27 December 2019
By Elaine Murphy
It’s not uncommon for people to become disinterested in their jobs as the years go by. At times, this can make you want to transition into an entirely new field. However, for many people, jumping careers midcourse might be tricky. So is there recourse? If you are in finance, you are in luck. In as far as careers go, accounting and finance professionals have a lot of room to manoeuvre.
If you are feeling stuck, here are some options to consider.
1. Financial Analyst
Financial analysts support investors, organizations and bankers identify suitable stocks, bonds, mergers, acquisitions and even restructuring strategies.
These professionals also get involved in making important financial decisions, such as choosing between leasing or buying equipment.
An important thing to note is that one of the tasks a financial analyst might need to perform is building a financial model to show how a business is performing. If you want to know more about financial modelling check out this guide by Wall Street Prep.
Overall, financial analysts are instrumental in making quantitative analyses and produce data-backed reports for their clients.
2. Investor Relations Professional
If you are good with complex concepts and have sound communication skills, this role might be suitable for you.
Once you get into investor relations, your role will, among other things include disseminating financial information regarding your clients or employer to business partners, analysts and investors.
In this regard, you have to be great at understanding and interpreting complex information.
3. Remote Working Accountant
At times, you need to change your mode of work, not necessarily your line of work.
If your weariness with your current position stems from the rigours of a commute and an office environment, remote working can be an excellent option.
As a freelance accountant, you get to pick your hours and virtually work from anywhere you like.
However, it is important to be cognizant of the fact that there is a lot of competition in the freelance space. To set yourself apart from the pack, be sure to have certifications that are in demand.
The good thing is that you can acquire many certifications without taking time off from the office. For example, you can take up Sage courses online.
The allure of such online courses is that you can take them, while still maintaining your day job, until such a point when you feel ready to make a move.
4. Credit Analyst
Credit analysts assess the viability of loan prospects, along with the risks involved in offering financing.
This role entails looking into, analysing and verifying financial information provided by prospective borrowers.
Aside from verifying financial information, credit analysts also have to study industry/market trends and make projections on the ability of a borrower to make loan repayments.
5. Financial Advisor to Legal Experts
Lawyers in different fields such as product liability, divorce, labour, civil litigation and security law rely heavily on finance professionals.
For example, a divorce lawyer would need to scrutinize and understand the financial standing of either spouse to make determinations on alimony, child support and such matters.
The same goes for a lawyer looking into fraud, tax evasion or other corporate financial irregularities.
Some legal training can go a long way here, but it is not mandatory.
If you have been in finance for years and take joy in mentoring and nurturing young professionals, teaching might be the next step for you.
If you have been working long enough, chances are that you have mastered your presentation and communication skills, both of which are essential in teaching.
With these, you can look into teaching in learning institutions, community mentoring programs as well as teaching business and investment skills in seminars and conferences.
The first thing to making a career transition is figuring out where you are and where you want to be. This objective evaluation will help you figure out if you need a transition or if your disquiet can be resolved by less drastic measures such as changing employers.
If it becomes clear that you require a transition, look into these options to identify one that would be a good fit for this next phase of your life.Follow TheCork.ie (The Online Newspaper for Cork, Ireland) on social media