“The perfect job” means something different to everyone. And really, it can be effectively argued that the perfect job may not even really exist. But depending on your priorities and interests, it’s absolutely possible to hone in your search to focus on positions that truly suit your needs and bring you career-related fulfillment. If your needs include flexible scheduling, a strong sense of autonomy, economic security, and the feeling that you’re helping others, working as a financial advisor could be the perfect fit for you.
While businesses like insurance companies and financial institutions do hire financial advisors as salaried employees, 4 out of 10 financial advisors identify as self-employed. While working for yourself does come with some complications - filing taxes among them - being your own boss allows you a degree of independence that isn’t possible when you answer to an employer. Many women working in the field particularly value the control they have over their own schedules. By setting their own appointments and shaping their days in ways that make sense for their lifestyles, women working in financial advisement can achieve an enviable work-life balance.
Because financial advisement is a very results-oriented industry, those who select this field can often work from home (or from a coworking space... or from a coffee shop). Without a micromanaging boss looking over your shoulder, you can accomplish your work goals in your own time and in your own way.
As with any other career path, reaching a point of economic success as a financial advisor doesn’t happen overnight. Also, it does require some educational investment – you’ll need a bachelor’s degree, and some clients and companies prefer their advisors earn a Certified Financial Planner designation.
But once you’re up and running as a financial advisor, the benefits to your bank account can be significant. Financial advisors earn a median salary of $90,530, positioning them well above the national median of $44,564 per year.
Whether you work for a larger company or as a self-employed contract advisor, financial consulting relies on forging strong relationships with your clientele. You have access to sensitive and personal information about these individuals, and the ability to offer useful counsel can be massively rewarding. Because there’s such a social stigma around the idea of talking about money with your friends, a financial advisor provides a much-needed outlet for economic concerns. Approaching these issues with compassion and clear, actionable advice goes a long way.
Want to jumpstart your career in finance? Register today for the upcoming Fairygodboss Virtual Career Fair for Women in Finance!