Business
IN THIS LESSON
Introduction to the Field of Finance
Finance is the field of business that focuses on managing money. This includes how individuals, businesses, and governments earn, save, invest, and spend their money. Professionals who pursue careers in finance help others make smart decisions about budgeting, saving, investing, and managing risk. They play a key role in making sure companies and individuals stay financially healthy and that money is used wisely.
There are three main areas in finance:
1.Corporate Finance
Careers in corporate finance focus on managing a company’s financial resources to support its strategic goals. Professionals in this area ensure financial stability, optimize investments, and drive business growth. These include careers in Financial Planning & Analysis (FP&A), Transactions & Financing, and Business Intelligence (BI) & Data Science.
Corporate Finance Careers:
FP&A: FP&A professionals analyze financial data, create forecasts, and develop budgets to help the company’s leadership team make business and financial decisions.
Treasury: Those who work in treasury manage cash, ensure enough money for daily operations, maintain bank relationships, and make borrowing and investment decisions to keep finances stable.
Business Intelligence: BI professionals extract, analyze, and present data for reports or projects, creating metrics that help stakeholders answer important business specific questions.
Data Science: Data scientists analyze complex data sets using statistical methods, algorithms, and machine learning to uncover insights and support data-driven decision-making.
How to get Started and Advance in Corporate Finance:
Careers in corporate finance often require a well-rounded mix of education, experience, and professional skills. Most entry-level positions require a four-year post-secondary degree, a good GPA, and relevant internship or co-op experience. Employers also look for candidates who have a good foundation in relevant technical and soft skills.
Networking is a key part of building a successful career in corporate finance. Making connections and gaining referrals can help you stand out in a competitive job market. In many cases, who you know can be just as important, if not more important, than what you know when it comes to getting opportunities and advancing your career.
Here is a list of common bachelor’s degrees required for careers in corporate finance. Feel free to further explore these in detail on EducationPlannerBC:
01
Bachelor of Business Administration (BBA)
02
Bachelor of Commerce (BCom)
03
Bachelor of Accounting (BAcc)
Here is a short list of common technical and soft skills required for careers in corporate finance. Again, don’t worry if you don’t have some, or even any, of these skills yet. What really matters is asking yourself: “Am I willing to spend time and effort learning and improving these skills?” After all, these are the skills that will help you succeed in corporate finance.
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Financial modeling using Excel
Data analysis using Excel, Power BI, or Tableau
Budgeting & forecasting
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Attention to detail
Problem-solving
Time management
Communication
Adaptability
Leadership
Graduate Degrees & Certifications:
As individuals progress in their careers, it’s common to pursue graduate degrees and specialized certifications to support both career advancement and salary growth. We’ll talk about career advancement in finance shortly, but in the meantime, here are some relevant graduate degrees and certifications that one may consider to advance their career in corporate finance.
Graduate Degrees:
Master of Business Administration (MBA)
Master of Finance (MF)
Certifications:
Certified Public Accountant (CPA)
Chartered Financial Analyst (CFA)
2.Banking
The banking industry plays a vital role in the economy by managing deposits, providing loans, and facilitating investments. As a banking professional, you may work with businesses, governments, or individuals to provide financial services, manage risk, and offer strategic advice. These include careers in Investment Banking (IB), Capital Markets, Commercial Lending, and Risk management.
Banking Careers:
IB: Investment banking is a specialized division within banks that provides advisory and capital raising services to governments, corporations, and institutions.
Capital Markets: Capital markets refer to marketplaces where investors buy and sell debt and equity, allowing businesses to access the money they need to fund new products and services or grow their operations.
Commercial Lending: Commercial lending involves providing businesses with loans to fund operations, expansion, or capital projects, based on an evaluation of the company’s financial health.
Risk Management: Risk management professionals are responsible for identifying, assessing, monitoring, and mitigating various risks for their organization.
How to get Started and Advance in Banking:
Careers in banking are highly competitive and demand a strong combination of education, experience, and interpersonal skills. Entry-level roles typically require a four-year post-secondary degree, a strong GPA, and relevant internship or co-op experience. Employers expect candidates to have a solid foundation in both technical and soft skills.
Networking plays a critical role in launching and advancing a career in banking. Many roles are filled through referrals or internal recommendations, making it important to build connections and maintain relationships with professionals already in the field. In banking, who you know is just as important as what you know.
Here is a list of common bachelor’s degrees required for careers in banking. Feel free to further explore these in detail on EducationPlannerBC:
01
Bachelor of Business Administration (BBA)
02
Bachelor of Commerce (BCom)
Here is a short list of common technical and soft skills required for careers in banking. Again, don’t worry if you don’t have some, or even any, of these skills yet. What really matters is asking yourself: “Am I willing to spend time and effort learning and improving these skills?” After all, these are the skills that will help you succeed in banking.
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Knowledge of financial markets and valuation techniques
Analytical and quantitative skills
Financial modeling using Excel
Accounting & financial statement analysis
Familiarity with regulations and compliance standards
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Attention to detail
Communication
Problem-solving
Teamwork and Collaboration
Time management
Adaptability
Leadership
Graduate Degrees & Certifications:
As individuals progress in their careers, it’s common to pursue graduate degrees and specialized certifications to support both career advancement and salary growth. We’ll talk about career advancement in finance shortly, but in the meantime, here are some relevant graduate degrees and certifications that one may consider to advance their career in banking.
Graduate Degrees:
Master of Business Administration (MBA)
Master of Finance (MF)
Certifications:
Chartered Financial Analyst (CFA)
Financial Risk Manager (FRM)
Certified Public Accountant (CPA)
Canadian Securities Course (CSC)
3.Institutional Investing
The institutional investing industry focuses on managing large amounts of capital on behalf of organizations and high-net-worth individuals. As a professional in this field, you may work with pension funds, endowments, corporations, or wealthy clients to grow and protect their investments. These include careers in Asset Management (AM), Hedge Funds, Private Equity (PE), and Wealth Management.
Institutional Investing Careers:
Asset Management: Asset managers oversee investment portfolios on behalf of clients, including institutional investors, such as pension funds, endowments and corporations, and high-net-worth individuals.
Hedge Funds: Individuals working in hedge funds manage pooled investments, using advanced strategies like leveraging, short-selling, and derivatives to generate high returns for institutional and high-net-worth investors.
PE: Private equity is an investment strategy focused on investing in or acquiring privately-held companies and either managing or improving their value to generate investor returns.
Wealth Management: Wealth management professionals focus on preserving and growing their clients’ wealth through various services, such as investment management, tax planning, estate planning, financial advice, and more.
How to get Started and Advance in Institutional Investing:
Many careers in institutional investing are highly competitive and often require a combination of strong academics, relevant experience, and professional networking. Entry-level roles typically require a four-year post-secondary degree, a strong GPA, and relevant internship or co-op experience. Employers look for candidates who have a strong foundation in relevant technical and soft skills.
Networking is also crucial in institutional investing. Many opportunities, especially in areas like private equity or hedge funds, are not widely advertised. Building genuine relationships, seeking referrals, and staying connected with professionals in the industry can open doors and significantly boost your chances of landing a role and advancing in your career.
Here is a list of common bachelor’s degrees required for careers in institutional investing. Feel free to further explore these in detail on EducationPlannerBC:
01
Bachelor of Business Administration (BBA)
02
Bachelor of Science (BSc) - Mathematics, Statistics, Physics, or Actuarial Science
03
Bachelor of Commerce (BCom)
04
Bachelor of Applied Science (BASc) - Engineering
Here is a short list of common technical and soft skills required for careers in institutional investing. Again, don’t worry if you don’t have some, or even any, of these skills yet. What really matters is asking yourself: “Am I willing to spend time and effort learning and improving these skills?” After all, these are the skills that will help you succeed in institutional investing.
-
Knowledge of financial markets, portfolio management, and asset classes
Analytical and quantitative skills
Financial modeling using Excel
Accounting and financial statement analysis
-
Attention to detail
Communication
Problem-solving
Teamwork and Collaboration
Time management
Adaptability
Leadership
As individuals progress in their careers, it’s common to pursue graduate degrees and specialized certifications to support both career advancement and salary growth. We’ll talk about career advancement in finance shortly, but in the meantime, here are some relevant graduate degrees and certifications that one may consider to advance their career in institutional investing.
Graduate Degrees:
Master of Business Administration (MBA)
Master of Finance (MF)
Certifications:
Certified Financial Planner (CFP)
Chartered Investment Manager (CIM)
Chartered Financial Analyst (CFA)
Financial Risk Manager (FRM)
Certified Public Accountant (CPA)
Canadian Securities Course (CSC)
How Career Advancement Works in Finance
In the field of finance, work experience is the most important factor when it comes to moving up in your career. The more real-world experience you gain, through internships, co-op programs, and full-time roles, the more you learn, build your reputation, and prove your abilities to employers.
While graduate degrees and certifications can be helpful, they are not automatic tickets to career growth and promotions. Instead, think of them as tools, they can boost your career, open new opportunities, and make you more competitive if received from reputable universities and utilized correctly. So, as you think about your future in finance, remember that experience builds your foundation, and the appropriate graduate degrees and certifications support your growth.
Is This Field Right For You?
Finance is a fast-paced, challenging, and rewarding field. Each area of finance, whether it’s corporate finance, banking, or institutional investing, requires a mix of analytical thinking, strong communication, attention to detail, and comfort working with numbers and data. As we mentioned earlier, you don’t need to have all of these skills right now, but ask yourself: Does the idea of spending four years learning about finance, investing, and financial strategy excite me?
It's also important to think about the culture of this field. Finance is performance-driven, results matter, and your career growth often depends on how well you deliver. Promotions and opportunities come from hard work, discipline, and constantly learning. In the first 1-3 years, many roles involve doing the junior or "grunt” work, building reports, creating models, and supporting senior staff, but that’s part of the process. These tasks build your foundation and open the door to bigger responsibilities down the road.
Overall, if you're curious about financial markets, enjoy solving problems, and like working in a goal-oriented environment, finance could be a great fit for you!