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Facts about working in finance

Facts about working in finance

Working in finance can sound like a dream come true, which gives you a great opportunity to make money. The...

Golden Rules to Follow When Taking a Loan

Golden Rules to Follow When Taking a Loan

There are many people who are struggling to meet their needs. This can make aspiring for things a bit difficult...

Finance and Economics

Finance and Economics

Finance and Economics are two subjects that interpret each other in different ways and methods. Although they are two different...

5 Creative Financing Ideas for Cash-Strapped Startups

5 Creative Financing Ideas for Cash-Strapped Startups

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Facts about working in finance


Working in finance can sound like a dream come true, which gives you a great opportunity to make money. The finance industry has seen many inspiring movies but is it all true. The lifestyle the passion the stress that is seen in these movies are more believable. Here are certain facts which can make working in finance a task.

It will take time

Most people think that one can get fancy cars and private jets when they get started in the finance industry. But the average starting salary for a person who is a finance major is $57,300, which can take a while to increase.

Investing in working hours

The work in investments are very long, and this can be seen that according to a report 75% of employees working at Goldman Sachs are reportedly working for more than 10 hours a day. The average work can increase with the day and time, which build a lot of stress.


The job market is very competitive

This is no secret that the finance industry is very competitive and finding the right acceptance rate for job applicants in the year 2015 is reported to be less than 2%. This can lead to a cut-throat battle between the people seeking a job in the field. It is also important that one understands the time and the efforts you invest will help you grow, or this can lead to you not being able to have a career fulfilling enough to stay in business.

The industry is male-heavy

A recent survey concludes that women make up 17-23% of the employee in venture capital, real estates, etc. This means that women have to work harder to reach their way onto the top, which can be a challenge but not impossible.

The industry is rapidly changing

The world of finance is constantly changing with the increase of digital payments and AI financial advisors. It is easier than ever to get started in the industry, but with the changes, it is difficult for humans to adapt to it. According to 32% millennials, the future if the world cashless and the implications are very unpredictable as well.

rapidly changing

People filing for bankruptcy

According to a survey, up to 13 million adults have been contacted to pay their debts, and they are considering filing for bankruptcy. Also, with 41% of people giving themselves a low grade when it comes to personal finance, one can be sure that they have no knowledge of how to save the right finances. Up to 93% of people actually admitted to the fact that they are dealing with their finances well enough to meet their needs.

Golden Rules to Follow When Taking a Loan


There are many people who are struggling to meet their needs. This can make aspiring for things a bit difficult that it already is. There are many financial institutions out there who can give you the right amount that you pay whenever there is an emergency situation. But, before you take up a loan, it is important that you understand the rules to follow before you can take a loan.

Do not borrow more than you can repay

The first rule of smart borrowing is to make sure to take money that you can easily repay. The thumb rule is to make sure that you do not exceed more than 15% of your net monthly income. Always try to make sure that your loan can match the income ratio is within the acceptable rates. Always make sure that they are in the acceptable rates to help you pay them off immediately.

short as possible

Keep the tenure as short as possible

The maximum that a home tenure is offered at is 30 years. Keep in mind the longer the tenure, the lower the EMI which can be tempting. But always make sure that you can take the best loan for the shortest tenure that you can afford. This makes sure that the interest stays the same and do not fluctuate more. The increase in the EMI can dramatically impact your loan tenure, which can raise up to 8-10% every year, which can be quite difficult to find the right proportion.

Ensure timely and regular payments

It is important you are disciplined when it comes to repayment of the dues. The short-debt term can be easily taken from your credit card, but you need to be sure that you can pay for the long term, which can only be done with the help of a loan. If you miss an EMI, you are severely impacting your credit profile which can hinder your chances when you are taking a loan for other needs. Also, make sure that you are up to date with your credit card payment as well.


Don’t borrow to splurge or invest

This is one of the most basic rules of never investing in borrowing money. Try to opt for a safe investment like fixed deposits which can match the rate of the interest that you can pay later. The investment that offers higher returns can make equities volatile. If the market declines, you will suffer losses and can become bankrupt. Real estate would have been a cost-effective investment which can be available for 7-8% and real estate prices which can easily rise to 15-20% when you are trying to buy a property. Try to find a home loan which can cost about 10% which even after the raise will be 4-5% extra.

Always borrow from a direct lender

As tempting as it is to borrow money from someone offering it to you are a highly reduced rate, this can actually get you into a lot of trouble. Loan sharks have been around for many years, they tend to offer you every benefit possible in order to get your attention. Not only are loan sharks illegal in the UK but they will more than likely always have a hidden clause that means you will always come off worse.

It is important to always take out a loan from reputable UK direct lenders such as paydaypixie.co.uk. Lenders that are fully authorised and regulated by the FCA have to still to strict guidelines and always need to ensure that they follow responsible lending criteria.

Finance and Economics


Finance and Economics are two subjects that interpret each other in different ways and methods. Although they are two different disciplines, they hold significant influence on each other and provide more meaning by doing so. When it comes to investments, people think about both these aspects and then make the right decision. But they cannot be called the same, as numerous points talk about their differences. So, to make matters simple, here are some of the major difference between finance and economics.


The Levels

The Levels

Finance is one subject that works everywhere. Be it a household or a company, finance matters to them at different stages of life. It leaves different impacts on each other and moves forward through different shapes. But when it comes to economics, it does not work everywhere. It matters at a macro level, like the country, state, industry or the region. This particular shape in character talks a lot about the needs and requirements at different levels. For a household, finance is a concern because it highlights the way forward, and for the country, the economy is a matter of concern because it accelerates parts of growth.

Decision Makers

The decision-maker for finance vary from place and depends on numerous elements. When it comes to a household, the decision-maker might be the one or the ones bringing financial resources to the house. This aspect revolves and changes, as we move from a firm to an organisation. But things are not the same for an economy. The decision-makers for the economy is the government and they solely control the process. They come up with policies that shape the economy. The aspect of growth depends upon the kind of policies that the government comes up with and how they influence the members of the economy.

Decision Makers

Type of Returns

Financial decisions bear different kinds of returns, and it is based on the nature of the decision. If they involve investments, then returns will revolve around the kind of platform like the stock market, bonds, mutual funds, and so on. At times, most of these decisions can be revoked to increase the extent of returns. But when it comes to economics, decisions bear a huge impact. Since they concern an entire country, you cannot change them as you feel like. The process of planning needs to come in, and things take shape based on the same.


These differences depict pictures that highlight why both these disciplines are not the same. They interconnect only at levels where they influence each other and does not seem to be the same otherwise. When you make economic policies that concerns a household, it influences their form of financial management. Hence, these are the type of connections that are highly visible.