What is the difference between a career in Finance and a career in Accounting?
shysteepinoy01 asked:
I am thinking about going back to school to get a BS in Business Administration.
I am thinking about going back to school to get a BS in Business Administration.
I would like to know what the difference is in careers in Finance and Accounting. Has anyone had a career in either field? What I want to know is:
What did you think of your career?
What did you do all day in Finance or Accounting?
Did you find it exciting or really boring?
For a career as a Financial Planner or Financial Advisor, do you work off of commision only?
Any information would be very helpful. Thanks.
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The easiest way to distinguish the difference between finance and accounting is to think of accounting as backward looking (recording individual and company actual transactions) and finance as forward looking (pro forma planning debt and investment strategies).
A career in financial planning for individuals and small business is a very tough way to make a living. It is commission sales and more of a hustle than intellectual pursuit. A few really good hustlers make decent money, but most fail and go back to salary within one year.
I spent 17 years in Corporate Finance with a Fortune 100 tech firm. It was a very rewarding career that encompassed a wide range of activities from treasury investment strategies and corporate capital structure to mergers and acquisitions.
A career in Corporate Finance usually requires an MBA, usually from a top 20 school. However, the rewards and opportunities clearly justify the effort.