Women in Sport – Looking to the Future:
What Working In Finance Is Really Like
What Working In Finance Is Really Like
If you do decide to enter the world of finance, it’s important to know what your typical day will look like.
Most athletes are fearful of beginning a career in the corporate world because they know their day will look vastly different from what it did as an athlete. And while they’re right in many regards, there are some parts of the day that will be refreshingly similar.
In fact, many who have worked in finance for decades say the thing that new employees will love, or hate, is that no two days are ever the same.
Most people who work in finance have several responsibilities throughout the day, from attending internal meetings, engaging with clients through to running reports, there are always many hats that have to be worn. Additionally, the finance world moves quickly, which means that while at work there is very little down time, and the days can be long if there are reports to be drawn up or analyses to complete.
Mariana Agathangelou is an IT Manager at a large financial institution in Europe. Her top-flight badminton playing days might be over, but that doesn’t mean the action has stopped.
“My job is so varied and I never know whether a day will be quiet or super busy, which is great and keeps me on my toes. I can deal with incidents that vary from an account number being incorrectly printed on private client’s letter, to a huge fraud attack on the bank. Every day is different and I thrive off this environment.”
For many people, the answer is yes. Athletes in particular enjoy the challenges of succeeding in finance because it reminds them of the demands they faced training and performing. A corporate job that is slower paced can prove too boring for fast-moving athletes.
Shauna Mullin senior executive at one of Europe’s leading banks, and former GB Beach Volleyball player, “I love my role because I’m challenged every day, challenged to solve problems, find new solutions and push the boundaries through innovation to develop the best customer experience and outcome for our customers.”
Another benefit of persevering through the first years of a financial job is that, if you can prove yourself, there is room for exponential growth. In a matter of years, most entry-level analysts find themselves advancing into roles of managers and supervisors. A decade of work in the industry can have serious rewards
According to a 2017 business report released by Business Insider, a median salary in the world of finance is $150,000, a huge amount compared to the median salary of most industries. Furthermore, the report goes on to reveal that the top paying positions in finance are well over $200,000.
Of course, none of these positions happen overnight. They are the product of years of hard work, discipline, and dedication.
But who’s more prepared for that than an athlete?
As we already discussed, women are being looked at as future hires because of the industry’s desire to make positions, especially entry level, more equitable. In fact, not only are businesses looking for women to fill these roles, they are under enormous pressure by HR to achieve gains in gender and diversity equality.
Another reason women are in high demand in finance is because more and more clients are women. In fact, it is estimated that by 2030, two-thirds of the world’s wealth will be controlled by women. These high-powered women who are looking for financial advice feel more comfortable working with other women. Research done by State Street Global Advisors makes this clear, revealing that 55% of young women, between the ages of 25 and 34, find it preferable to work with female financial advisors. And this number is expected to grow significantly.
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Financial companies, aware of these trends, currently don’t have much to offer these women, as most of their advisors are male. The race is on to attract more women to their teams so that this demand can be met.
Head financial managers, like Brie Williams of State Street Global Advisors, say that “it’s going to be tough for the industry to stay on a forward foot if we don’t evolve.” And that evolution, or revolution, has to be female.