Work-Life Balance for Finance Professionals (2024)

FAQs

Do finance jobs have a good work-life balance? ›

Finance Managers, tasked with the crucial role of overseeing an organization's financial health, often find themselves in a high-stress environment where maintaining a work-life balance can be particularly challenging.

The role, which demands acute attention to market trends, client needs, and financial planning, often extends beyond the typical nine-to-five schedule. This can lead to unpredictable work hours and the need for constant availability, which complicates the pursuit of work-life balance for these professionals.

‍Around 50 to 60 hours a week is normal for this job. Hours may increase when significant deadlines come up (quarterly and annual financial reports).

The median annual wage for business and financial occupations is $46,310 higher than the median annual wage for all occupations. Drawbacks of a career in finance can include high stress, long working hours, continuing education requirements, and, in some cases, limited job stability.

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

On average, financial managers rate the meaningfulness of their work a 2.6/5. While most financial managers aren't very fulfilled by their work, some people may still manage to find meaning in it.

According to the U.S. Bureau of Labor Statistics, the median annual wage for personal financial advisors was $94,170 in May 2021. It means half of the financial advisors earned more than that, and half earned less. One in ten earned less than $47,570, while one in ten made more than $208,000.

It's an investment. Failing to generate leads can lead to stagnant growth or a decline in business. 2. The Statistics: 80-90% of financial advisors fail and close their firm within the first three years of business.

Being a financial advisor can be highly stressful due to the responsibility of managing clients' financial futures, market volatility, and the need to make crucial decisions under pressure. Stress levels can vary based on individual clients and market conditions.

Do you know the Rule of 72? It's an easy way to calculate just how long it's going to take for your money to double. Just take the number 72 and divide it by the interest rate you hope to earn. That number gives you the approximate number of years it will take for your investment to double.

What is the hardest job in finance? ›

But Wall Street workers say that the nature of finance — the office politics and uniquely competitive cohort — can create a work culture that exacerbates feelings of loneliness.

The finance industry is famously hard-charging, especially at the junior levels, and you need to show you can handle it and more. Good references are valuable no matter what, but, more importantly, impressing your bosses during an internship can be a great way to open doors for a future full-time job with that company.

In general, recruiters like to see someone who has spent at least two years with a company. And ideally, it's about three to five years, said Matthew Warzel, a former recruiter who founded career counseling firm MJW Careers. For most industries, that range tends to be the sweet spot.