What Jobs are Available in Behavioral Finance

Although its a relatively new area in the field of economics, there are several jobs available in behavioral finance. Behavior finance combines behavioral and cognitive psychological theory with traditional economic theory to determine why people make unwise financial decisions. In other words, it determines how certain behaviors play a role in how people spend their money. This field is also used to help determine certain market trends and what behaviors affect their value. Here are some jobs available in behavioral finance.

Financial Analyst

Financial analysts evaluate current and past financial data, research economic and market trends, examine financial statements, prepare written statements and examine an individual or company’s financial statements to determine growth and value. Based on these findings, the financial analyst will make recommendations regarding investments and portfolios. These professionals are expected to see a job growth of 11 percent between 2016 and 2026, according to the U.S. Bureau of Labor Statistics (BLS).

Investment Manager

Also referred to as a financial manager, an investment manager manages the investment portfolios of the organization in which he or she works. Investment managers generally work in large organizations or institutions such as banks, life insurance companies and similar financial institutions. Investment managers should see an employment growth of 19 percent from 2016-2026, according to a BLS report.

Behavioral Economics Researcher

A behavioral economics researcher may work in the fields of economics, finance, business or healthcare. This individual performs research, sifts through data, conducts field experiments and makes financial recommendations based on his or her research. A behavioral economics researcher must be good at problem-solving because this is a big part of the job. If there are financial concerns, the behavioral economics researcher will determine the best way to solve the problem based on his or her research and data as well as the company’s financial status.

Personal Financial Advisors

Personal financial advisors are professionals who help consumers and individuals make sound financial investments. After meeting with an individual and going over his or her financial statements, the financial advisor will monitor the client’s accounts, explain the various financial investments options, and make recommendations to the client. They may also run training programs and seminars to educate clients on wise investments. A personal advisor may also suggest ways an individual can save money for retirement or any other goal the individual may have. The BLS predicts that financial advisors could see a job growth of up to 15 percent.

Financial Associate

A financial associate generally works in a bank, financial institution or large corporation. They may also be found working in treasury or investment departments, as well as accounting and finance departments within an organization. This individual is usually very good with accounting and financial information and proficient at manipulating numbers. A financial associate oversees the financial statements, works closely with the company’s financial team, assist auditors, implements ways to improve financial processes and helps the company reach both long- and short-term goals.

Most people, at one time or another, have made a purchase that they could not understand. This happens with individuals as well as businesses. The American Society of Pension Professionals & Actuaries states that behavior-based finance has become very popular and will be key in the investment world. With the economy growing as it is, there are many jobs available in behavioral finance.