money management Financial planning is a career path with a promising future and many job perks. Financial planners enjoy job security, opportunities for career advancement, an above-average salary6 and — once you are in the field for a while — a personalized work schedule with long-term client partnerships. For many, this sounds about as close to heaven as you can get with work. But these are only some of the many benefits of becoming a financial planner.

If you have a knack for organizing and prioritizing funds, excellent money management skills and a desire to work with and help people or corporations – then this career could be a good fit for you. Grantham University wants you to succeed professionally, so here are some things you need to know to transform your interest in money management into a full-blown, rewarding career in the financial planning industry.

Foretelling the Future of a Financial Planner

Financial planners weren’t funded by employers or sought after by everyday people until recent years. As the U.S. economy bounces back from the 2008 recession, many people and companies are looking to plan for secure economic futures by making sound investments and developing smart saving habits. People are taking wealth much more seriously and weighing the future implications of their current financial decisions. For this reason, financial planning jobs are expected to grow 30% by 2024. That’s an additional 74,000 new jobs on top of the 250,000 jobs that existed in 2014.1

What Other Career Options Do I Have?

With a Bachelor of Business Administration degree from Grantham, you could go into many different jobs in the financial planning industry. Here are just a few career options that will allow you to use your money management skills and expertise:

– Financial Analyst: As the name suggests, financial analysts examine and evaluate corporate budgets and provide guidance to businesses for their expenditures. This role is for people with a business mind who enjoy handling large budget projects, have a keen eye to observe and track market trends, and are able to use their knowledge to provide advice and information to businesses when they need it. Financial analysts earn, on average, $80,000 per year and the number of jobs is expected to grow 12% by 2024.2

– Personal Financial Advisor or Planner: On the other end of the spectrum, if you prefer building intimate connections with clients and enjoy seeing the direct impact of your service on the lives of others, then you can earn an average salary of $89,000 per year as a personal financial advisor.3 In this position, you will teach individuals and families about money management to help them get out of debt, weigh insurance and retirement options, and financially prepare for their future. This role gives you the opportunity to implement practical budgeting skills while also using relationship and communication skills to develop long-term clients and build trust with them as their personal financial advisor.

– Payroll, Compensation and Benefits Specialist: Maybe you want to work directly with people but still spend a significant amount of time on the corporate, financial end of the spectrum. If this is the case, a payroll, compensation and benefits specialist could be the job for you. With an average salary of $60,000 per year, you can have an impact on a wide range of people, while also handling numbers, overseeing large budgets and managing paychecks. You’ll determine how to create a corporate budget that accommodates each individual employee and meets their personal payroll, compensation and benefits goals.4

How Do I Become a Financial Planner?

People and businesses seeking help for saving and investing want to feel confident in the advice their personal financial advisor gives them. They look for qualified advisors who have strong academic and professional experience and have a track record of creating budgets and financial plans that work in the long run. To become a successful financial planner, you need more than just personal money management skills – you also need a bachelor’s degree and, possibly, certification or licensing.

Unlike other industries, certifications are necessary to secure client trust and gain opportunities for professional advancement. Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), and Chartered Financial Consultant (ChFC) are three of the most sought-after certifications in the financial planning industry. Employers typically pay for these certifications and incorporate them into the on-the-job training they offer new employees. These certifications help solidify your accounting, economics, finance, statistics and mathematics knowledge.5

Although licensing is not required in this profession, as you advance in your career, being licensed will boost your credibility and broaden your skillset by allowing you to sell stocks, bonds, mutual funds and insurance.

Use Your Money Management Skills to Become a Financial Planner

With a Bachelor of Business Administration in Financial Planning from Grantham University, you could start your career in the financial planning industry making twice the salary of an average entry-level employee.6 It’s never too late to reach your goals. With the promising outlook for financial planners, there is no better time to get your degree from Grantham. Contact us today to take the first step toward your career!

Apply at Grantham

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