A career in finance is often seen as a gateway to high salaries, global mobility and professional prestige. But beyond the impressive job titles and corner offices, there’s a reality many newcomers aren’t told; finance is a demanding, fast-paced industry that rewards resilience, adaptability and a continuous hunger to learn.
Understanding both the pressures and the potential is key to building a fulfilling career in the field.
Behind the Prestige
Finance is not a typical 9-to-5 job, especially in early roles. Entry-level analysts at major investment banks routinely work long hours. In a 2021 internal survey leaked by Goldman Sachs analysts, junior staff reported working an average of 95 hours per week and sleeping just five hours a night during peak project cycles.
Still, that experience is not universal. “The hours can be intense, especially in banking,” said David Solomon, CEO of Goldman Sachs, in an interview with CNBC. “But for those who are passionate about the markets and problem solving, it can also be extremely rewarding.”
Other areas of finance, such as corporate finance, financial planning or fintech startups, offer more manageable hours with similar potential for career growth, often accompanied by greater flexibility and a better work-life balance.
Continuous Learning
Degrees in finance, accounting or economics provide a foundation, but the real learning begins on the job. Financial modeling, valuation, data analysis and presentation skills are core expectations in many roles, and many firms expect new hires to ramp up quickly.
For professionals who want to deepen their expertise, certifications such as the Chartered Financial Analyst (CFA) designation are highly respected. According to the CFA Institute, more than 170,000 professionals worldwide hold the designation, which is recognized for its rigor and relevance across various sectors.
“You have to be prepared to keep growing,” said Sallie Krawcheck, CEO of Ellevest and former CFO of Citigroup. “Finance is a lifelong learning industry. The moment you stop staying curious is the moment you fall behind.”
Connections Count
Technical skills are essential, but relationships often open doors. Internships, informational interviews and alumni connections can be as critical as a strong GPA.
“Networking isn’t optional in this field,” said Gorick Ng, Harvard career advisor and author of The Unspoken Rules. “Many top finance jobs are filled through referrals or insider knowledge. Building relationships early can make all the difference.”
Many firms offer outreach programs, mentorship initiatives and campus events designed to connect diverse talent with finance professionals. Showing up—and following up—can lead to surprising opportunities.
Competitive & Rewarding
Rejection is common, especially for competitive roles at investment banks, hedge funds or top consulting firms. It’s not unusual for students to apply to dozens of internships or analyst programs before landing a position.
But persistence often pays off. “You don’t have to be the smartest person in the room,” said BlackRock CEO Larry Fink in a Bloomberg interview. “You have to be the most prepared.”
Once inside, the growth potential is significant. Many entry-level analysts progress to senior roles in private equity, venture capital or corporate leadership. Others transition into tech, government or entrepreneurship with a strong financial foundation.
Looking Ahead
The finance industry continues to evolve, with rising demand for professionals in sustainable investing, fintech and data-driven decision-making. According to the U.S. Bureau of Labor Statistics, employment for financial analysts is projected to grow 8% from 2022 to 2032, which is faster than the average growth rate for all occupations.
For those ready to embrace its challenges, finance offers not just a job but a dynamic and influential career path.
“It’s not for everyone,” said Krawcheck. “But if you love solving complex problems and want to make an impact, finance is one of the most exciting places to be.”
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