#FinanceJobs #ImpactOnWorld #PositiveChange #CareerChoices #MoneyVsImpact
“Why do people say finance jobs have zero impact on the world?”
Finance jobs have long been a topic of debate when it comes to their impact on the world. Many people perceive these roles as purely money-driven and lacking in substance when it comes to making a positive difference in society. But are these assumptions really fair? Let’s delve deeper into this issue and explore why some individuals believe finance jobs have zero impact on the world.
## Perceptions vs. Reality: Debunking the Myths
### Myth #1: Finance Jobs Are Solely Money-Driven
– While it’s true that finance professionals are often well-compensated for their work, this is not the sole motivator for individuals in these roles.
– Many finance professionals are passionate about the intricacies of the financial markets and enjoy the challenge of analyzing data, forecasting trends, and making strategic investment decisions.
– Finance jobs provide essential financial services that support businesses, individuals, and economies on a global scale.
### Myth #2: Finance Jobs Lack Social Impact
– Contrary to popular belief, finance professionals play a crucial role in driving economic growth, funding innovation, and supporting sustainable development initiatives.
– Finance professionals help allocate capital to businesses and projects that have the potential to create jobs, improve living standards, and address societal challenges.
– Through ethical investing, impact investing, and corporate social responsibility initiatives, finance professionals can contribute to positive social and environmental outcomes.
## The Real Impact of Finance Jobs: Making a Difference
### Economic Growth and Stability
– Finance professionals help facilitate the flow of capital within the economy, enabling businesses to grow, create jobs, and innovate.
– By providing access to funding through loans, investments, and financial services, finance professionals support entrepreneurship and economic development.
– Finance jobs contribute to overall economic stability by managing risks, ensuring compliance with regulations, and promoting financial literacy.
### Wealth Creation and Distribution
– Finance professionals help individuals and organizations manage their finances, build wealth, and achieve their financial goals.
– By offering financial advice, investment opportunities, and wealth management services, finance professionals empower people to take control of their financial futures.
– Finance jobs play a key role in wealth distribution by channeling resources to underserved communities, bridging the wealth gap, and promoting financial inclusion.
### Social and Environmental Impact
– Finance professionals have the opportunity to drive positive change through impact investing, sustainable finance, and responsible banking practices.
– By supporting socially responsible businesses, eco-friendly initiatives, and community-focused projects, finance professionals can make a meaningful impact on society and the environment.
– Finance jobs can contribute to the achievement of the United Nations Sustainable Development Goals by aligning financial activities with social, environmental, and governance objectives.
## Beyond Money: Finding Fulfillment and Purpose
### Career Choices That Make a Difference
– While finance jobs offer financial rewards and career stability, many individuals also choose these roles for the intellectual challenge, professional growth, and opportunities for impact.
– There are numerous career paths within finance that enable individuals to specialize in areas such as sustainable finance, impact investing, corporate social responsibility, and financial inclusion.
– Finance professionals can leverage their skills, expertise, and resources to address complex societal issues, drive innovation, and create positive change in the world.
### Pursuing Passion and Purpose
– Ultimately, the impact of a job is determined by the individual’s values, motivations, and goals.
– Some people may find fulfillment and purpose in finance jobs by using their financial expertise to support social causes, advocate for ethical practices, or drive sustainability initiatives.
– By aligning personal values with professional pursuits, individuals can create meaningful impact, foster positive change, and leave a lasting legacy in their chosen field.
## Conclusion: Redefining the Role of Finance Jobs
In conclusion, it’s important to challenge the perception that finance jobs have zero impact on the world. While financial services are often critiqued for being profit-driven, finance professionals have the power to leverage their skills and resources for the greater good. By embracing ethical principles, social responsibility, and sustainability practices, finance professionals can make a positive impact on society, the environment, and future generations.
So, the next time someone questions the impact of finance jobs, consider the diverse ways in which finance professionals can contribute to positive change, drive innovation, and shape a better world for all. Finance is not just about numbers and profits—it’s about people, purpose, and making a difference that goes beyond money. Let’s redefine the role of finance jobs and celebrate the transformative impact they can have on the world. 💼🌍 #MakeAnImpact #FinanceForGood #SustainableFinance #ChangeTheNarrative
People might not be able to see their individual impacts on the world, but even with his big ass flaws the financial system is crucial to the quality of life we have right now.
You can work as a developer and earn a good salary and still have an impact on something substantial. Such as working for a start up as an engineer to build an app that provides people with a humanitarian service.
There’s very little in finance that does anything of that nature unless you’re in like ESG which is a grey/fraudulent area
If you want meaning in life and to feel fulfilled, plenty of sectors or industries can provide that. I find it odd when people in finance feel empty as if they expected anything other than a paycheck.
But you can also feel fulfilled as a manager as you are involved in actual development of people which isn’t just a bottom line.
Financial Planning definitely helps people
They fail to realize that a barter economic system is super primitive and that fiat currency is a natural progression in almost all societies because it allows for other natural progressions like financing, equity, and insurance.
Cuz theyre small minded
Being a dominatrix. Definitely leaves a mark and people like it so much they do it for free.
And pays better than being a first year analyst…..
Because most people only have a surface level (if that) understanding of the industry and its role in the economy. There are much more BS, zero value add roles at your typical F1000 corporation.
IMO it’s because our work doesn’t typically produce something tangible. A plumber clearly installs / fixes plumbing stuff. A doctor fixes you. An engineer makes stuff. A factory worker creates widget, etc., etc,.
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We really just produce ideas, arguments, and data, all of which are really just abstract constructs that someone not familiar with the space might as well consider worthless and a waste of time / effort.
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IMO I think we as an industry add tons of value. Wealth planners help people retire, bankers help connect those with capital to those who need which will ultimately, over time, create jobs, wealth, innovation, etc. Corporate finance folks help allow companies this big to even exist, and to do so without excessive fraud. Try operating a company the scale of any Fortune 500 without a well established treasury / tax / accounting / FP&A etc. teams, and very quickly that company would run out of funds, fraud would occur, investors would lose all confidence, and operations would cease.
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We’re certainly not the most important actors in the workplace, nor are we generally altruistic, but we are a critical piece of the background that allows any country the safety and confidence to move forward.
Oh finance has an impact all right. Anyone need some adjustable rate mortgages ??
I believe the major reason behind it is that the financial industry in general, for everyday life, doesn’t create any tangible value like the bricklayer at a construction site creates, or a butcher, or the guy flipping patties at McD’s, or a truck driver, a cook, a plumber, a streetsweeper, a teacher, a nail salon worker, a nurse…etc. You can see, feel or taste the value those people create.
It creates an “intangible” value per se, that only the balance sheet, PR’s, shareholders, bosses and the likes care about (and the own workers of course). The world needs finances, absolutely; but the value created by it is not something people that don’t work in it, would ever even give a thought about until shit hits the fan.
Perhaps because nothing “tangible” is created, although that line of thinking is extremely short-sighted, and a bit weird tbh.
If you’re an equity research analyst and wonder what your impact on the world is, well I somewhat understand (even though equity research analysts are definitely useful).
If you’re in wealth management and you don’t know whether you are helping people then you’re either 1) smoking some strong stuff, 2) work for a shite firm, or 3) need to pursue another job, because this clearly isn’t for you.
Back when I was a retail banker people were so happy I helped them investing, getting a mortgage, or with some basic financial planning. If people aren’t even grateful or don’t seem to bother, and if you as a banker don’t see the impact you’re making, what the fuck are you doing?
You’re right it normally has a bad one
Look at the sterling world economies that don’t have a robust financial system
Sri Lanka, Bangladesh, Ghana
A well functioning financial market/debt market keep the tangible economy alive. Funds are applied to areas where they are needed for a fair and consistent rate of interest.
You may not feel like it but your job is a cog in a greater machine that enables the economy to move fluidly.
Finance is the behind the scenes of everything happening in the world. Google wouldn’t be google without start up funding from venture capital(finance), people arent able to buy houses and go to college without lending (finance), who revives a company when they go bankrupt? I saw someone posted here that there company invested in people trying to cure cancer, obviously they’re not the ones doing it but finance does assist on the impact.
You can make the argument that a hedge fund just makes money of buying and selling stocks has little impact or a pe firm buying a company firing staff and selling makes little impact. However how much impact on the world does a tech company like DoorDash have on the world? Where they charge the restaurant and customer a service fee so now my $5 milkshake is now $20? Majority of the world doesn’t have an impact but more recently ESG like who knows if those companies are helping the planet but that’s an attempt of a solution to the problem.
If we are talking about FP&A and accounting roles in a company, that’s a neutral to good thing…businesses need to know that.
High finance – M&A, trading, PE, VC, et al – could be easily argued to have a net negative impact.
Emergency Room Doctor
After reading Sapiens I learned that financial innovation is what really propelled economic growth and development. Because of the ability of banks to lend money that they don’t have, people able to pursue more entrepreurial ventures and build things that they otherwise wouldn’t.
You’ll encounter these people but it’s honestly a surface level, brain dead thought. Walk down any city street and everything was in some way influenced by a financial institution or someone that qualifies as having a “finance job”. They’re probably not considering there are finance jobs in corporations (that I’m sure they glorify) as well as in governments too.
How exactly do they think airports, highways, skyscrapers, drugs, technology advancements or really anything is developed? Just going to trust that a bunch of plumbers and truck drivers will one day decide they’re going to pool money for that? Are they planning to go door to door collecting cash to build refineries so our population has access to petroleum products at an affordable price (even this is disregarding that the presence of cash implies a “finance job” that controls currency)?
Just the fact that digital payments are even possible is a result of finance jobs. We wouldn’t be able to send money anywhere except by putting cash in envelopes. We wouldn’t have credit cards, loans for housing or cars, retirement accounts, bank accounts of any sort for safe storage for your money, etc.
Finance jobs play a critical role of propping up modern society by either directly impacting everyday individuals, helping steer institutions so they can continue to exist, or playing an intermediary between capital and professionals with ideas/expertise.
I’m sorry but finance jobs make the world go round. Like genuinely imagine what would happen if all jobs in the financial sector disappeared.
I’m just number crunching behind the scenes for a $2BN project but make more than most of these IT guys who seem to have a more difficult job than me (I see everyone’s salaries). I think my role is not full of glory but still critical for the rest of the team to operate daily.
Finance is only beneficial for society when it’s used to improve productivity for profitable companies, especially those that provide services to the public (construction, medicine, etc.). If it’s used purely for speculation, then there’s no benefit.
Finance is all what everybody needs and you also need a specific person to manage it. So obviously the person managing the thing you need the most will have a negative reputation. Just a funny way to look at it in my opinion but its also kind of true i guess.
Because people are idiots who don’t understand complex institutions and products.
If you explained how so much of the real economy runs on credit or funds raised from equity people would be either shocked or become bored when they can’t grasp the concepts.
Most people I know believe it has impact in the world but that this impact is mostly bad.
We are from the “let farmers sell call options so that their imcome is secured ” and close to : the volatility of commodities is artifically increased because there are 10 times more derivatives that are traded rather than actual commo
Because people dont understand the finance industry. A ton of value is provided in most aspects. Id say limited value in market making, HFT, and family office type things. But in general, a lot of value is created by understanding the value of alternative resource allocations and associated risks
People say that because we don’t produce anything tangible in the normal sense, but we can get paid alot for what we do. So people just assume it’s a cheat code. Once you realize how the economy works, you realize finance isn’t just necessary, it’s critical.
I’ve worked in finance (soft “i”) for over 20 years now and, although starting bright eyed with the best intentions, I have come to the realization that what we do is a net negative impact on the world. There are pockets of finance that does good (mostly not ESG), but on the whole, it’s a general suck on brainpower and effort that could be put to better use. It’s largely responsible for the massive and growing wealth inequalities that’s causing tension (and will eventually explode one way or the another), and it creates a constant cycle of upturn/downturn that causes a lot of general and acute suffering.
That said, it’s a necessary evil for societal growth — at least until we outgrow and evolve past our capitalistic chains. And what else am I going to do? I have highly specialized skills not applicable anywhere else, and certainly nowhere I’d make as much bank.
You want to change the world? Go to Apple or a non-profit.
If you’re working at a business, you’re there to make the business and you money.
They. Are. Dumb.
You’ll encounter these people but it’s honestly a surface level, brain dead thought. Walk down any city street and everything was in some way influenced by a financial institution or someone that qualifies as having a “finance job”. They’re probably not considering there are finance jobs in corporations (that I’m sure they glorify) as well as in governments too.
How exactly do they think airports, highways, skyscrapers, drugs, technology advancements or really anything is developed? Just going to trust that a bunch of plumbers and truck drivers will one day decide they’re going to pool money for that? Are they planning to go door to door collecting cash to build refineries so our population has access to petroleum products at an affordable price (even this is disregarding that the mere presence of cash implies a “finance job” that controls currency)?
Just the fact that digital payments are even possible is a result of finance jobs. We wouldn’t be able to send money anywhere except by putting cash in envelopes. We wouldn’t have credit cards, loans for housing or cars, retirement accounts, bank accounts of any sort for safe storage for your money, etc.
Finance jobs play a critical role of propping up modern society by either directly impacting everyday individuals, helping steer institutions so they can continue to exist, or playing an intermediary between capital and professionals with ideas/expertise.
Not in finance.
I wouldnt say you have no impact; you have a negative impact. Your industrys goal is to currently find out what people need & gatekeep it.
That being said I agree with your last point; but doesnt that make you a hypocrite? Its like you know its true & want excuses. Y’all aint no firefighters.
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Heres my advice to you: Take the money, lose the argument, and cry yourself to sleep at night in your BMW. Being right aint worth shit these days.
The state of this sub is appalling. Where are all the actually good content? Jesus.