Financial tutors specialize in specific financial niches, providing study aids to individuals seeking a better understanding of financial concepts. They must stay up-to-date with changes in the industry and can work independently or through a tutoring company. The growth of technology in finance has increased demand for finance tutors.
A financial tutor is responsible for providing study aids to individuals who wish to gain a better understanding of financial concepts, methodologies, and equations. While the world of finance is vast, typically a financial tutor specializes in a specific financial niche. These specialties can range from basic accounting principles to more thorough financial analysis such as calculating net present value (NPV), internal rates of return (IRR) and earnings before interest and taxes (EBIT), just to name a few.
The financial sector presents a variety of concepts that can be extremely complex and confusing for students and inexperienced newcomers. Therefore, it is of the utmost importance that a financial tutor be versed in various financial specialties in order to best meet the student’s needs. A financial tutor will usually have a postgraduate degree such as a master’s in business administration or extensive experience in the financial industry. Many tutors will also hold a variety of financial certifications, with the CFA (Chartered Financial Analyst) certification being the most prestigious and recognized certification in the industry.
In addition to providing help to students, the financial tutor must also stay abreast of any changes in the financial industry that may affect current financial principles. As rules and regulations change, the methods by which financial data is organized, analyzed and reported may also change. A finance tutor must be able to adapt quickly to changes in the industry in order to ensure that students receive the most up-to-date financial concepts and practices.
A person looking to become a financial tutor can work independently as a sole proprietor or work through a tutoring company. The prospect of working independently can be very lucrative for successful tutors, but additional business duties such as marketing and operations would be the responsibility of the tutor. This added responsibility can be too much for a financial guardian simply looking to generate additional income; therefore, many tutors choose to start this career by working with a tutoring company.
The growth of technology in the financial sector has fueled a demand for finance tutors. Finance tutors familiar with these emerging technologies now specialize in areas ranging from online stock analysis and trading to quantitative programming. In addition, advances in technological communications, such as online video chatting, now make it possible for a financial tutor to offer guidance to students around the world.
Protect your devices with Threat Protection by NordVPN
