How to have a purposeful career in Finance

In previous years, career conversations would typically centre around salary and any extra ‘perks’ that could be thrown in. These were the only things that employees really expected from their workplaces. Fast-forward to now and the pandemic has turned this upside down.

Employees now recognise that their life doesn't necessarily have to centre around their work but instead, their work can fit around them. They’ve also realised that they don’t have to put up with negative aspects, such as an unhealthy workplace culture, or high workload, they can instead go elsewhere. Look no further than the Great Resignation to see this mass-epiphany at play. 

Ultimately people want to feel valued but also that they are valuable to society. For the third year in a row, a whitepaper by Workhuman found that workers across all age groups ranked meaningful work as most important – beating out all other options, including positive company culture, compensation and perks, a supportive manager, and a fun team.

If this sounds familiar, you might find yourself wondering if you can have a purposeful career within finance. We happen to know this is perfectly possible – but where should you start?

‘Purposeful work’ can have different implications, depending on who you ask. Writing a list of factors that you are not willing to compromise on, and factors that you are happy to compromise on is a good place to start in determining what you care about most and where to prioritise.

Many of us aren’t sure how to make job decisions that lead to satisfaction, but The Harvard Business Review identifies four key categories to consider: 

Legacy – what do you want your work to achieve? 

Mastery – the strengths you want to use or improve in your work.

Freedom – the salary, benefits and flexibility you need to live the life you want.

Alignment – the culture and values of your workplace and whether you feel like you belong. 

Fortunately, there are many components already present within the financial sector that are constructive to a meaningful career. A survey of professionals from across 20 different sectors found that Finance & Banking offers the second most satisfying career.

So, if you’re not feeling fulfilled, what can you do to make a change?

It may be time to consider a role that better aligns with your values. This will likely motivate you and can lead to overall career progression and happiness. Your skillset makes you well suited to numerous sectors, so it is worth doing some research to see if a particular industry calls out to you. Don’t assume that because your experience so far has been in the private sector you can’t make a change.

Your values are completely personal to you of course, but there are a few factors to consider, such as company culture and employee relationships. It may also be valuable to ask yourself some questions to help you to understand your values.

• Why are you unhappy in your career right now?
• Where do you see yourself in five years?
• What gets you excited about getting up in the morning and going to work?
• What kind of relationships would you prefer to have with your co-workers?

The charity, public and third sectors are great options for adding meaning to your work and for giving your career a deeper purpose. Due to the importance of an effective finance department, you can make a real difference to their work and be essential to their growth. By working for a charity, third or public sector organisation you can play a vital role in helping them to achieve their mission, whether that be providing social housing, funding vital medical research or supporting vulnerable children.

While your day-to-day activities may be similar, the impact you have and the meaning you can derive from your work could make all the difference.

Robertson Bell places financial experts into meaningful roles in the charity, public and third sectors. For advice and support on finding your next role, please get in touch with one of our experts.