Have you ever heard of the word- Cash Careers? The first thing that would come to your mind is careers that revolve around money. But this is just a loose definition of it. Don’t worry; we have your back and will tell you all about it. Cash Careers are jobs that involve cash, credit, and other economic resources. Let’s dive deeper into it.
What are Cash Careers?
Cash-related careers are those in which people work with and analyze credit, cash, and economic resources. In such kinds of jobs, people put their money management as well as mathematical skills into practice. These jobs require a high understanding of the monetary value, business transactions, keeping a track of numbers, managing several financial tasks, and performing calculations to name a few.
Educational Requirements and Salary of Cash related Careers-
Cash Careers are indeed a large field and involve a myriad of roles ranging from Accountant to Auditor to Financial Advisor, Loan Officer, Compensation and Benefits Manager, etc.
Although in this field there are different educational requirements for every role.
1. Accountant- Accountants are professionals who supervise and manage a series of accounts either private or public. They oversee assets, tax liability, profits as well as losses. They curate reports to make sure that organizations function smoothly.
Working on computer systems to enter data and process information is also a part of their job. The role asks you to put your great numerical sense to use.
So, if you are someone who loves to play around with numbers, this might be the right fit for you!
- In order to become an accountant, one needs to attain a Bachelor’s degree in accounting or a field similar to that.
- Although one needs to also keep in mind that many employers seek to hire those individuals who after their Bachelor’s degree in accounting, have acquired a Master’s Degree in Business Administration with a specification in accounting, as well.
Salary – The average base salary for accountants in the USA is $73,318.
2. Financial Advisors– Financial advisors work with numerous clients to aid them with their financial goals. They provide their expertise in several areas linked to finance such as tax and investment strategies, and insurance, to give answers to financial questions posed by clients. They even suggest financial plans and strategies to them.
- One can earn a Bachelor’s degree in any field. Yes, you read that right! There is no need for a major in a specified field.
- Although taking several courses in finance, investments, risk management as well as estate planning might be a great way to equip yourselves with the skills required in this role.
Salary range- The average annual salary in the United States is $66,684.
3. Financial Analyst– People in this role make use of and examine data to assist companies and institutions in making business decisions. In addition to this, they make use of data to make economic predictions about firms, industries, and sectors.
- One needs to acquire a Bachelor’s degree in any field such as finance, economics, statistics, mathematics, etc. With this, the person can earn any entry-level position in the financial sphere and operate under the supervision of a senior analyst.
- Even though one can have a Bachelor’s degree in any field, firms give preference to those who have studied finance and accounts.
- One key point to note here is that a person with a Master’s degree is preferred for senior-level positions.
Salary Range– The average salary of a financial analyst in the US is $86,958.
4. Loan Officer- A loan officer is a person who works in a bank, credit union, or any other lending institution. The job requires them to prepare and process loan applications.
They assist applicants through the whole process of getting a loan. They evaluate a person’s income history and several other aspects of their financial background to check their eligibility status for the loan.
- A degree is not a requirement to become a loan officer if you are looking to work with a small financial institution. A person needs to be of 18 years of age and should have a high school diploma.
- If a person chooses to acquire a degree, then one could consider majoring in fields such as accounting, business, economics, etc.
Salary– The average salary is $48, 625 in the USA.
5. Cash Manager- A cash manager supervises the cash flow going in and out of the company. They manage all aspects of the cash management function.
- The basic educational requirement is a Bachelor’s degree in a finance-related discipline.
- In addition to this, strong communicative skills are also required in this field and working experience is a major factor that companies take into consideration while hiring for this role.
Salary- The average salary of a cash manager is $93,363 per year.
- A few things need to be kept in mind while applying for the roles mentioned above-
- Mention your name, age, and educational qualifications.
- One needs to mention extra licensed certifications if acquired any- related to the specific area that they are applying for
- Mention your work experience if you have any and state your skills.
- Send the application online via email.
Benefits of Cash-related careers-
There are several employee-related benefits given which differ from company to company if one decides to make a career in this field. Some of them are-
- Health Insurance Coverage
- Paid Holidays
- Flexible Schedules
- Use of company car
- Bonuses and profit sharing
- Discounts are given on several company products and services
Thus, Cash Careers involve a myriad of roles to choose from, ranging from financial advisors to loan officers, financial analysts, cash managers, accountants, and several others.
Each role requires different educational qualifications and skill sets. One needs to focus on educational qualifications, work experience, and skills while sending the job application. In addition to this, the perks or benefits given to the employees differ from company to company.
So, if you are someone who is interested in finance, accounting, business, etc, then you have a range of options to choose from, regarding which role to take up, while thinking of your career and we wish you all the very best!