Is financial services stressful?
Finance companies often have high stakes and intense workloads due to the fast-paced nature of the industry. However, it ultimately depends on the specific role and company culture. It's important to consider your own preferences and strengths when deciding which industry may be more stressful for you.
Finance is not always a stressful career, but for the highest-earning jobs it can be. Long hours and an “always on call” mentality can be extremely stressful for finance professionals, especially those dealing with global markets.
Finance careers can be very lucrative for high-performing workers, with management roles commonly earning over $150,000 annually and executive salaries often reaching even higher.
Even though Financial Analysts work long hours and sometimes must handle a lot of stress in the workplace, these professionals are well-compensated for their efforts. In 2021, the average salary in the U.S. for a Financial Analyst was $96,000.
The role of a Bank Teller involves constant customer engagement and adherence to strict protocols, which can be stressful. A healthy work-life balance allows Tellers to decompress, preventing burnout and preserving the high level of customer service that is expected in the banking industry.
- Investment Banker (M&A or capital markets professional) ...
- Trader. ...
- Risk management & compliance. ...
- Wealth manager/private banker. ...
- Institutional sales. ...
- Management consulting. ...
- Long-only fund manager. ...
- Technology.
In a 2021 survey commissioned by Cigna, 79% of 18- to 24-year-olds reported feeling lonely, compared with 41% of people 66 and older. 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.
They can include high stress, big responsibility, long working hours, continuing education requirements, and, in some cases, a lack of job security—the finance industry is generally quite cyclical.
Working in the FS (financial services) sector is one of the most rewarding careers you could have. You'll learn how to act commercially, focus on the bottom line whilst making positive change and be exposed to global issues like global warming, wars, political decisions, and even pandemics.
Number 1 – Hedge Fund Investment Professionals
The average hedge fund investment professional can make as much or more as some of the other roles (i.e. CRO, CFO, etc.) combined.
Can an introvert be a financial analyst?
📈 According to a study by the Myers-Briggs Company, introverts make up 56.8% of financial professionals, while extroverts make up 43.2%. This means that there are plenty of introverted financial professionals out there who have achieved success in their field.
- Financial Consultant.
- Financial Analyst.
- Accounting.
- Portfolio Manager.
- Personal Financial Advisor.
- Internal Auditor.
- Financial Planning & Analysis Manager.
- Insurance Advisor (Risk Manager)
Financial Manager Positions
These financial management positions include controllers, treasurers, credit managers, cash managers, risk managers and insurance managers. Since each of these positions requires strong analytical skills along with the ability to work independently, introverts tend to make ideal candidates.
- Firefighter.
- Social worker.
- Broadcaster.
- Newspaper reporters.
- Emergency dispatcher.
- Mental health counselor.
- Anesthesiologist.
- ER nurse.
Rank | Industry |
---|---|
1 | Human Health and Social Work Activities |
2 | Public Defence |
3 | Education |
4 | Professional, Scientific, and Technical Activities |
- Physician. National average salary: $272,872 per year Primary duties: Physicians or doctors are medical professionals who treat various diseases and injuries. ...
- Nurse. ...
- Soldier. ...
- Patrol officer. ...
- Anesthesiologist. ...
- Chief executive officer. ...
- Lawyer. ...
- Police officer.
The short, simple answer is: Yes, finance is still a good career path, but it will probably not be as good relative to other careers as it has been over the past few decades. If you are at a top university or business school, have the qualifications, and start early, that's fine.
Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators.
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.
On average, financial analysts rate the meaningfulness of their work a 2.3/5. The majority of financial analysts struggle to find any sort of meaning in their work, likely resulting in less satisfaction with the career overall.
How many hours do people in finance work?
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).
One thing that's for sure is the high amount of math you will need to study. Finance is a mathematical discipline, so if you aren't as comfortable with math as with other ways of thinking, you may find it more challenging.
It's a bit counterintuitive to enter finance and then optimize for work / life balance, but there are some very comfortable finance jobs out there. It is entirely possible to earn >$300k and work <50 hours by your early 30s if you pick your spots right.
On average, Financial Analysts can expect to work between 40 to 70 hours per week, with the longer end typical for those in investment banking or during busy financial reporting periods. Workload can fluctuate with market conditions, fiscal year-ends, and the specific demands of their employer.
Salaries in the finance industry
According to the U.S. Bureau of Labor Statics (BLS), careers in finance pay a median salary of $76,850 — 66% higher than the median salary for all occupations in the nation ($46,310).
References
- https://www.taylormethod.com/blog/sales-practice/why-financial-advisors-are-quitting-the-industry
- https://deltawealthadvisors.com/blog/what-is-the-success-rate-of-a-financial-advisor
- https://www.tealhq.com/work-life-balance/bank-teller
- https://webupon.com/blog/do-financial-advisors-make-6-figures/
- https://www.careerexplorer.com/careers/financial-advisor/personality/
- https://saragrillo.com/2021/01/21/how-much-will-financial-advisors-and-planners-make-in-2021/
- https://www.forbes.com/sites/bryanrobinson/2023/12/10/6-ways-introverted-job-seekers-get-employed-in-2024/
- https://pomwealth.net/what-happens-to-my-money-if-something-happens-to-my-advisor/
- https://hbr.org/2021/01/can-introverts-thrive-in-extroverted-careers
- https://work.chron.com/financial-careers-introverts-15796.html
- https://edu.gcfglobal.org/en/moneybasics/financial-problem-solving-strategies/1/
- https://matrixmarketinggroup.com/2024-challenges-financial-services-industry/
- https://donconnelly.com/why-financial-advisors-quit/
- https://www.efinancialcareers.com/news/finance/the-most-and-least-stressful-jobs-in-banking-and-finance
- https://smartasset.com/advisor-resources/how-many-clients-does-a-financial-advisor-have
- https://money.usnews.com/investing/articles/things-your-financial-advisor-should-not-tell-you
- https://smartasset.com/financial-advisor/how-do-financial-advisors-make-money
- https://www.investopedia.com/articles/fa-profession/092416/5-traits-successful-financial-advisors-have.asp
- https://adapture.com/inside-the-mind-of-a-financial-wizard/
- https://www.nobledesktop.com/careers/financial-analyst/career-benefits
- https://www.investopedia.com/articles/financialcareers/08/five-undergrad-tips.asp
- https://www.webmd.com/balance/introvert-personality-overview
- https://www.bankrate.com/banking/savings/places-to-save-your-extra-money/
- https://quietrev.com/extroverts-sparkle-introverts-glow-dating-game/
- https://www.prosperitycoaching.biz/blog/how-much-do-experienced-financial-advisors-earn/
- https://www.linkedin.com/pulse/what-current-challenges-finance-industry-lendapi
- https://www.careerexplorer.com/careers/financial-advisor/satisfaction/
- https://medium.com/@dm.ebizfiling/what-are-the-ethical-issues-in-accounting-finance-faced-by-accountants-e6a41b517e17
- https://interactive-wealth.com/80-20-pareto-rule-for-retirement/
- https://www.nasdaq.com/articles/transforming-the-wealth-management-experience
- https://www.cnbc.com/2024/01/30/gen-z-gets-money-advice-from-tiktok-what-to-know-about-finfluencers.html
- https://www.wsj.com/buyside/personal-finance/is-a-financial-advisor-worth-it-242898e2
- https://www.linkedin.com/pulse/10-reasons-why-thousands-financial-advisors
- https://www.fenews.co.uk/work-leadership/education-one-of-the-most-stressful-jobs-new-study-reveals/
- https://www.linkedin.com/pulse/quietly-building-success-introverts-guide-financial-practice-torrey
- https://www.advisorpedia.com/growth/dont-let-burnout-get-the-best-of-your-financial-advisory-practice/
- https://www.lpl.com/join-lpl/why-choose-lpl/news-and-insights/how-advisors-manage-remote-work.html
- https://medium.com/@faheera89/are-rich-people-introverts-or-extroverts-who-wins-the-race-81d8a7e43f37
- https://www.joinleland.com/library/a/navigating-networking-challenges-as-an-introverted-investment-banking-analyst
- https://www.fool.com/investing/2023/11/26/want-to-outperform-92-of-professional-fund-manager/
- https://www.beafarmbureauwma.com/blog/tips-to-survive-the-financial-advising-busy-season
- https://www.investopedia.com/articles/professionals/071113/why-clients-fire-financial-advisors.asp
- https://www.careerprinciples.com/resources/top-five-finance-jobs
- https://www.indeed.com/career-advice/finding-a-job/business-degree-jobs-for-introverts
- https://www.thepensionsregulator.gov.uk/en/media-hub/speeches-and-speakers/helping-savers-to-assess-their-dc-pensions-savings-the-seven-challenges
- https://www.empaxis.com/blog/financial-advisor-stress-tips
- https://www.northwesternmutual.com/life-and-money/what-can-millionaires-teach-us-about-financial-planning/
- https://www.harriscashcoach.com/post/7-low-stress-jobs-in-finance-that-pay-well
- https://www.forbes.com/advisor/education/business-and-marketing/careers-in-finance/
- https://www.forbes.com/sites/impactpartners/2019/02/27/financial-advisors-the-good-the-bad-and-the-ugly/
- https://www.quora.com/What-kind-of-car-should-your-financial-advisor-drive
- https://www.schwab.com/wealth-management/wealth-advisor
- https://ca.indeed.com/career-advice/finding-a-job/most-stressful-jobs
- https://typeset.io/questions/what-is-financial-challenges-5bbkw5q1ws
- https://www.tealhq.com/work-life-balance/financial-representative
- https://www.investopedia.com/articles/financial-careers/08/financial-career-options-professionals.asp
- https://www.zippia.com/answers/do-finance-consultants-travel-a-lot/
- https://www.nerdwallet.com/article/investing/wealth-advisor
- https://www.nerdwallet.com/article/investing/change-financial-advisors
- https://www.onpointcu.com/blog/4-traits-of-a-great-financial-advisor-and-4-signs-you-may-need-a-new-one/
- https://smartasset.com/retirement/can-you-trust-your-financial-adviser
- https://www.peakframeworks.com/post/finance-work-life-balance
- https://smartasset.com/financial-advisor/financial-advisor-vs-self-investing
- https://www.sarsillc.com/financial-advisor-red-flags/
- https://moneysmart.gov.au/financial-advice/problems-with-a-financial-adviser
- https://300hours.com/is-finance-a-good-career-path/
- https://www.uopeople.edu/blog/is-a-finance-degree-worth-it-everything-you-need-to-know/
- https://www.investopedia.com/articles/personal-finance/021216/can-you-afford-financial-advisor.asp
- https://www.marketwatch.com/picks/is-this-a-fair-fee-im-talking-to-a-financial-adviser-who-wants-to-charge-1-6-for-accounts-with-less-than-250k-in-them-is-that-ok-9616e1b1
- https://www.cnbc.com/2024/03/20/the-best-jobs-for-introverts-according-to-new-researchsome-pay-over-100k.html
- https://www.tealhq.com/work-life-balance/financial-analyst
- https://www.nextmatter.com/blog/the-top-3-challenges-facing-financial-service-companies-in-2023-navigating-a-rapidly-changing-landscape
- https://www.fa-mag.com/news/financial-planning-is-top-of-mind-for-millionaires--study-says-74597.html
- https://www.quora.com/Is-financial-analyst-a-good-job-for-an-introvert
- https://www.linkedin.com/pulse/embracing-social-engagement-introverted-business-harry-eqhhc
- https://www.goodlifeco.com/pros-cons-financial-advisor-career/
- https://finance.yahoo.com/news/4-most-popular-banks-millionaires-150054420.html
- https://www.fidelity.com/viewpoints/investing-ideas/financial-advisor-cost
- https://www.herbersandcompany.com/trending/why-people-dont-hire-financial-advisors
- https://smartasset.com/financial-advisor/is-it-worth-paying-a-financial-advisor
- https://www.statista.com/statistics/1176393/financial-advisor-usa/
- https://www.indeed.com/career-advice/finding-a-job/highest-paying-finance-jobs
- https://www.beckershospitalreview.com/hospital-management-administration/introvert-ceos-poised-to-thrive.html
- https://www.fundyourretirement.com/benefits-and-disadvantages-of-a-financial-adviser/
- https://mergersandinquisitions.com/is-finance-a-good-career-path/
- https://www.goldmedalwaters.com/post/should-you-break-up-with-your-financial-advisor
- https://smartasset.com/advisor-resources/pros-and-cons-of-becoming-a-financial-advisor
- https://www.volopay.com/blog/challenges-faced-by-finance-manager/
- https://www.linkedin.com/pulse/why-you-should-choose-financial-services-career-adam-geary-aqv4e
- https://www.businessinsider.com/how-wall-streets-culture-is-contributing-to-the-loneliness-crisis-2023-11
- https://www.jasoncornes.co.uk/blog/the-strengths-and-weaknesses-of-being-an-introvert
- https://www.northcentralcollege.edu/news/2022/09/12/finance-degree-hard
- https://smartasset.com/advisor-resources/day-in-the-life-of-a-financial-advisor
- https://www.bankrate.com/investing/financial-advisors/best-financial-advisors/
- https://www.theadvisorcoach.com/pros-and-cons-of-being-a-financial-advisor.html
- https://www.unbiased.com/discover/financial-advice/best-financial-advisor
- https://smartasset.com/advisor-resources/average-number-of-clients-per-financial-advisor
- https://www.theadvisorcoach.com/financial-advisor-success-traits.html
- https://smartasset.com/financial-advisor/the-minimum-investment-for-a-financial-advisor
- https://www.oracle.com/erp/financials/financial-management-challenges/
- https://smartasset.com/advisor-resources/what-is-the-future-of-financial-advisors
- https://www.investmentnews.com/industry-news/news/why-millionaires-value-their-advisors-for-their-long-term-financial-planning-243447
- https://smartasset.com/financial-advisor/fiduciary-vs-financial-advisor
- https://www.theadvisorcoach.com/7-reasons-youll-fail-as-a-financial-advisor.html
- https://smartasset.com/advisor-resources/can-i-be-a-part-time-financial-advisor
- https://trustandwill.com/learn/fiduciary-vs-financial-advisor
- https://www.bankrate.com/investing/financial-advisors/when-to-get-a-financial-advisor/
- https://money.usnews.com/investing/best-brokers/fidelity
- https://www.careerexplorer.com/careers/financial-analyst/satisfaction/
- https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
- https://corporatefinanceinstitute.com/resources/career/six-highest-paying-jobs-financial-industry/
- https://www.taylormethod.com/blog/special-topics/how-much-do-financial-advisors-make
- https://www.marketwatch.com/picks/are-you-still-paying-1-to-your-financial-adviser-heres-what-might-make-a-lot-more-sense-and-save-you-tens-of-thousands-of-dollars-01659470645
- https://www.investopedia.com/articles/personal-finance/103013/how-do-i-know-i-can-trust-my-financial-advisor.asp
- https://www.businessnewsdaily.com/1875-stressful-careers.html
- https://www.investopedia.com/articles/professionals/080515/pros-cons-financial-advisor-career.asp
- https://www.investopedia.com/articles/financial-advisor/052516/top-challenges-financial-advisors.asp
- https://www.seedpg.com/blog/age-of-financial-advisor/