Many people are attracted to money. Not just to have more (who doesn’t?), but to really participate in the financial industry and make a career out of it.

Did you know that some of the most successful people in finance and investing never pursued finance in college? Did you know that many never even went to college? There are people who have built successful careers in investing or the financial industry who grew up and learned on the job.

Like I said, there are many branches on this tree. Accountants, CPAs, and analysts must go through significant educational requirements before finding finance jobs. While these careers are based on a strong education and commitment, there are other areas of finance that don’t require a strict or specialized education before entering the job market.

Stockbroker and Financial Advisor Jobs

Stockbrokers, registered representatives, and financial advisors are basically salespeople in the financial industry. That’s not to demean what they do, it’s actually true. Once you are a licensed stockbroker working for a company, you are a telephone stockbroker. Many major companies will require 2- or 4-year degrees before hiring you for a job, but a finance or investment-related degree is usually not required. Many smaller businesses do not require college at all. They are looking for runners with talent, drive and the ability to communicate and persuade. If you can convince the company that you can make money, you can get in. There are successful stockbrokers and consultants making $200,000 or more and many of them were car salesmen, insurance agents, collections salesmen, real estate agents, etc. Training is ongoing and most must decide after 6 months or a year if this is the financial career or job they want.

The downside of this career is the compensation you earn. It is based largely, if not exclusively, on commissions or fees. It’s a sink or swim finance career. It’s not for everyone, but the requirements are easier, so if you’re good at it, you’re all set!

Mortgage Broker Career

When Wall Street began losing jobs in late 2000 and for several years after, many brokers and advisers began their careers as mortgage processors or mortgage brokers. The mortgage financing industry was booming. With low interest rates and a slower economy, homeowners were looking to tap into their home equity or refinance. The people who had these jobs at mortgage companies made a lot of money. People had needs and the environment was ripe for big business.

The problem with mortgage financing jobs is that it is a very cyclical business and depends on constant new business and referrals for brokers to make money. If I had my general choice, getting a job in the mortgage broker business would be one of my last options. The good times are really good. Bad times are really bad.

Insurance Jobs and Retirement Finance Careers

With the nation’s population living longer and the trend of big companies to offer attractive retirement plans on the decline, insurance agents, retirement and estate planners are doing well. Developing a career in finance and landing jobs in these areas can be very rewarding, and the trends are on your side.

There are many areas of finance and investments. You may end up being a bond broker, a trader, a mutual fund broker, or something else. The fastest way to get a good job or career in investing or finance is to get a job as a financial advisor or broker. It takes time and effort, but the openings are out there and the experience you gain working with client investments will come in handy in the future. You either make a great career doing just that, or you place that job in another area that is a better fit for you.

The financial industry can be tough, it’s competitive, and you have to stand out, but it’s better than digging ditches, usually!

Good luck!