By Colleen Kay Watson, Career Professionals®

Finance, the art of administering and managing money, is crucial to the success of every profit or nonprofit business enterprise.

People entering the field of finance, will find it challenging and exciting. The world of high finance is not only a world of numbers but also a world of human relations. Financial services have been growing faster than the rest of the job market. The fastest growth will be seen in banks, credit agencies, and financial services.

The best way to tap into the many job opportunities in finance is to get a good education. A variety of college majors may enter banking, consumer credit and securities. To gain an entry-level position in corporation finance, it is best to have a bachelor's degree in finance, accounting, math, statistics or economics.

Opportunities for advancement are good once you get into the mainstream of corporate financial operations. Competition gets tougher the higher you go, so it is wise to keep graduate school in mind. Credentials as well as experience will influence progress along your career path.

Banking

Generally, a college graduate enters banking as a trainee. After training they become an officer of the bank. Officers have two major areas of responsibility. The first is in making loans and the second is selling financial services. Banks offer a wide array of services. They range from simple transactions, such as transferring money from one location to another to highly sophisticated investment counseling. Specialization in areas of loans or services is quite common.

It is the American way to buy on credit and because of that, credit itself has become a field rich in job opportunities. Consumer finance and sales finance companies offer services similar to banks. They are more flexible in their lending policies making them assessable to a larger consumer market.

Positions in consumer credit are similar in most financial institutions. Financial counselors determine the credit worthiness of the loan requests. Other financial workers monitor payment and handle collections.

At the top of the ladder in corporate finance is the chief financial executive or CFO. Promotion to this position used to be through internal recruiting. Today, more corporations are hiring professional managers with strong credentials and experience in finance, outside the corporation.

Entry-level employees can find work as a financial analyst. An MBA and/or financial internships help to start a career here. Experience in banking or accounting are also useful in entering corporate finance.

The securities industry involves the total financial planning process for individuals or companies. Basic functional areas are sales, trading, underwriting, and research. Financial planners often start in sales and then move into portfolio management.

Finance uses both sides of one's brain, the analytical and the creative. This makes finance an opportunity with a challanging and fulfilling career path. Furthermore, there will always be a demand for people who understand the money side of business.