Finance is Going Freelance: Here’s What that Means for the Industry

Like so many industries, finance is slowly but surely opening itself up to more and more freelance workers. From personal accountants to financial advisors, the online labour market has made it easier than ever for people with financial expertise to set themselves up independently.

But how does this latest trend towards more independent work affect you? And can you go freelance in finance?

How To Go Freelance in Finance in 2024

The amazing thing about living in the age of social media is that there are all kinds of ways to make a living so long as you have knowledge and experience in your industry. For finance, this is particularly true.

To a greater or lesser extent, every company – and even many individuals – need someone with a strong finance background to advise them and help them make decisions. In essence, demand for financial expertise already outstrips supply and that’s before you even get into secondary methods of capitalising on your knowledge, such as professional mentoring.

Many people with a finance background choose to split their time between working in finance and mentoring those who are new to the industry. After all, given the lucrative opportunities provided, there are many people who’d like to get into finance, further driving up the value of being a financial Mentor.

Of course, the best thing about mentoring is that you get to set your own rate. You get to decide how much you feel your time is worth, allowing those who are willing to pay good money for your expertise to come to you. It’s an amazing way to maximise your potential as a Mentor.

Specialists and Generalists

It should also be noted that, along with a rise in freelance work, you often tend to see a rise in specialisation. This is because, as an individual freelancer, it’s often more effective to market towards one niche rather than attempting to cover a broad range.

That being said, one place where the generalists can really thrive is mentoring. As a Mentee looking to join the industry, one of the most useful people you can speak to is someone with first hand experience of a variety of finance-related jobs/disciplines. Not only can this help to give them a broader perspective on the industry as a whole but it can also really aid in informing them about the career they’re likely to want.

As a Mentor, it’s also useful because, in some ways, being a financial generalist is easier to market, especially for those getting into the industry. Keep in mind that, with any pursuit or aim in life, there are far more people who start their journey than there are who reach their destination. Most of the people asking how to go freelance in finance aren’t people with any major experience of that industry.

The practical upshot of this is that the real demand tends to be most dense among those who are just entering the industry and therefore probably have a much wider perspective on the direction they might like to go. All in all, if you’d like to maximise your chances of making money as an online Mentor, then presenting yourself as a generalist is probably the best way to go. After all, you can always save the specialist approach for your clients.

A New Way of Networking

Can you freelance finance without an outstanding network of contacts?

Yes!

Some of those who go into finance on a freelance basis – especially those who are newer to the industry – believe that they need a strong network of contacts before they can really start to bring in clients. While networking is very important, however, there’s more than one way to approach this problem.

Finding an online Mentor is an excellent way to gain access to someone else’s network while also getting their advice and assistance as you get started. Working with them you’ll get all the information up front from someone with first hand experience. Furthermore, once you’ve started to get to know their network, it’ll be far easier to build your own so that, further down the line, you can become a Mentor yourself.

Online mentoring truly is opening the doors for more people to enter the industry. Where, in years gone by, success was often dependant on who you knew, the combination of social media promotion and more effective networking methods is making it easier than ever for bright new minds to find their way into finance.

Still wondering how to go freelance in finance?

There are many ways to capitalise on your experience as a finance expert, but if you really want to make the most of your skills, then why not sign up today with Career Navig8r and become a Mentor. As a Mentor, you can share your skills at a rate of your own choosing. 

Maximise the potential of your experience with CareerNavig8r.com!