If you’re looking for a career working with numbers, using your keen analytical skills, and making sharp, responsible decisions, then chances are a career in finance has caught your eye.
Luckily, not all finance roles need a degree, and opportunities like apprenticeships can help kick-start your career in the industry.
So, let’s take a look at what kind of career paths you could follow, and how much you could be bringing home.
Those with an interest in insurance often go into insurance underwriting roles. Your decision-making skills will be put to the test, as you’ll be weighing up complex information, and working out potential risks of insuring an individual, vehicle, or business.
Underwriters between the ages of 16 and 24 earn a cool average of £24,333 per year. The role also provides great scope for development, with a jump up to £34,965 per year on average for those aged between 25 and 34. And if you’re thinking about the future of your career, senior management roles earn between £75,000 and £80,000 annually… how does that sound?!
Others interested in insurance often become insurance brokers. If you have a flair for selling, negotiation, and persuading people with ideas, this could be your calling. Brokers act as a link between insurance companies and customers to find the best level of cover for the best price.
Brokers are also well paid for their financial expertise, earning an average of £25,643 between the ages of 16 and 24, and jumping up to an average of £33,506 per year over the next decade.
If these kinds of roles sound like you, insurance qualifications from the Chartered Insurance Institute (CII) are a great place to start. You can gain these through distance learning, or through an apprenticeship.
A 2014/2015 survey by CII found that an excellent 75% of those who work in insurance said that they felt their job was secure.
If you can explain complex situations with clarity, and enjoy helping with money-based decisions, then going into mortgage advice could be ideal. Becoming a mortgage advisor can be hugely rewarding, as you help people on their way to buying a new home.
Mortgage advice can also be rewarding for your wallet, with a basic starting salary of between £22,000 and £25,000. This doesn’t even include commission (a reward for pushing your skills to the limit and reaching your goals), which could bring you to a salary of between £45,000 and £70,000, depending on your employer and the property market.
If mortgage advice sounds right up your street, you can gain the necessary qualifications from the Institute of Financial Services (IFS). You can achieve the IFS CeMap qualification through a distance learning programme, or through an apprenticeship with a local employer.
Would an apprenticeship in finance be right for you?
Watch our webinar to find out!
You can also choose to go down a more admin focused route. This is perfect if you would enjoy supporting business activities by keeping financial documents in check, and showing off your brilliant organisational skills.
The average salary for finance support and administration roles is £28,019. From an administration focused role, you could develop in all kinds of directions, including into management roles.
If this sounds like your kind of role, the CII Award in Financial Administration is an ideal starting point. Through distance learning or an apprenticeship, you’ll learn about some important areas of finance, including life insurance and pensions, and how to support customers with their financial decisions.
Starting your finance career
To find your perfect finance role, you need to start by gaining the right qualifications. Whether you want to go into insurance, mortgage advice, or financial support, there are two main options open to you.
You might choose to go down the finance apprenticeship path. This allows you to learn on the job, and immerse yourself in the industry on a daily basis. Experienced finance professionals will help develop and nurture your understanding while you gain your qualifications. This means you will have both the practical experience and the technical knowledge, which will look great on your CV!
Others choose to do a distance learning course. This is a great option if you are already working, or would like to study from home. With distance learning, you can learn wherever and whenever suits you, with lots of support from an experienced tutor.