Last Updated on October 20, 2023 by Lori Pace
If you’re a single mother who has a strong head for numbers and money and you’re looking to return to the world of work, there might be many careers for you in the finance industry.
There are various opportunities available in the finance sector, and many could allow you to work flexibly so that you can manage your professional life alongside your motherly responsibilities.
Here are just six careers in finance that you should consider pursuing.
1. Careers In Finance As An Accountant
As an accountant, you can either work for an accounting firm or work independently. If you become an independent accountant, it will be easier to manage your time as a single mom. The heart of this job is about maintaining the financial health of a company or individual.
You could handle everyday financial matters like reviewing and updating clients’ financial records to ensure their accounts are correct and they are following legal obligations, or you could pursue a higher-level career in accountancy, such as becoming a Certified Public Accountant.
But first things first. You’ll need to acquire a Bachelor’s degree in accounting or a related field like finance or business.
Once you have your Bachelor’s degree, you can choose to continue your education. The more qualifications you have, the more opportunities you will have to earn big bucks; which would come in handy as a single mom.
Get started by checking out these USA-based schools with accounting programs.
2. A Financial Planner
With a Bachelor’s degree and other relevant certifications, you could start a career as a financial planner. In the role, you would assist individuals in developing financial plans by reviewing clients’ goals and coming up with appropriate strategies to ensure current and future financial stability.
Your plans could focus on things like investment growth, tax planning, or wealth preservation.
3. Careers In Finance As An Actuary For Single Moms
Actuaries work for organizations that need to manage risk. Insurance companies are the most common employers of actuaries. But you could also work for accounting firms, governments, consulting firms, and other entities.
With your expertise and input, you would help to manage assets, minimize risk, and maximize profits by gathering, assembling, and analyzing data. To become an actuary, you’ll need to complete a four-year degree in a subject like math, statistics, economics, or finance.
4. A Quantitative Analyst
Insurance firms, banks, hedge funds, private equity companies, and other entities employ quantitative analysts to assist them in managing risk and identifying investment opportunities.
Quantitative analysts are especially in high demand in the trading sector, in which they create algorithms to determine the most profitable trading opportunities.
And in general, working as a quantitative analyst would involve creating mathematical models to help organizations make sound financial decisions. To work in this role, you would need to complete a Master’s degree or PhD in a quantitative field like math, economics, finance, or statistics.
5. A Portfolio Manager
To become a portfolio manager, you’ll need to gain a four-year degree in a subject like finance, business, or economics. You’ll also need to acquire a license from the Financial Industry Regulatory Authority.
In the role of portfolio manager, you would oversee retail and institutional client investments.
You would recommend customized investment strategies, and you could work with specialized asset classes like fixed income or equities. You could also specialize in specific types of stocks, high-yield bonds, or blockchain startups.
6. Careers In Finance As An Economic Analyst
This role involves looking for major trends in broad areas of the economy and markets. You would analyze data, track trends, and come up with informed opinions regarding financial markets’ futures.
Typically, economic analysts work for money management firms, investment banks, and other financial institutions. To become an economic analyst, you will need to gain a Master’s degree. Many economic analysts also earn Ph.Ds.