Your New Financial Career in FY2025: Mortgage Broker, Financial Planner or Accountant?

No doubt you've seen a mortgage broker bragging on their IG post about being on an overseas holiday while still making time to lodge loans applications. You certainly would have seen your friends circle around a financial planner who claims to know where to invest money to get 10% returns even in this economy. Or you may have an accountant in the family who is always reminding you to keep your receipts to claim it as a work expense and is proudly to state 'International Roast' is the best brew.

Jokes aside, whether you’re drawn to the real estate, enjoy helping people plan for retirement or have a passion for numbers here’s an inside scoop on three in-demand careers. I have been lucky enough to work closely with all three groups. I have been noticing them switching careers within this group too. Here is some real-world data to bring these roles to life.

1. Mortgage Brokers

• Average Salary: $88,000–$110,000 annually with experienced brokers hitting up to $200,000.
• Certification – A Certificate IV in Finance and Mortgage Broking as a minimum followed by a Diploma of Finance and Mortgage Broking Management.
• Stereotype - Talkative, high energy salesperson who loves networkings and winning awards.

There are about 19,000 mortgage brokers in Australia. This is a client-focused career where success builds with referrals. You need to love real estate and get to enjoy a flexible workday.

2. Financial Planners

• Average Salary: Around $125,000 per year with even greater performance based bonuses and asset based fees for those managing high net worth (HNW) client portfolios.
• Certification – A FASEA approved degree followed by a Master of Financial Planning
• Stereotype - Idealistic, constantly studying, pedantic over Statement of Advice (SOA) documents and constantly complain of how they have to unfairly bear the costs associated with the misconduct of unrelated firms.

There are about 11,000 financial advisers in Australia (dropping from 27,000 in 2018). This is a career where you have to keep studying and get well compensated for it. This role requires dedication to gaining your client's trust and always have regulatory standards front of mind.

3. Accountants

• Average Salary: About $66,100 with experienced accountants earning up to $102,000 or more
• Certification – A degree in accounting and a CPA/CA designation
• Stereotype - Introverted number crunchers, penny pinchers who can grow business but can't sell and lack colourful personalities.

There are over $100,000 circa accountants practicing in Australia. This career requires you to be detail-oriented and interested in specialization in either tax, auditing or corporate accounting. When at work, this role requires you to be bound to your desk and love spreadsheets.

Conclusion

To sum it up, these roles may look wildly different on the outside but at their core they all share a common theme: numbers and a commitment to helping people build a secure financial future.

Whether you're drawn to the fast-paced world of real estate, the satisfaction of helping someone plan for retirement or the precision of balancing ledgers each of these career paths offers a mix of challenges and rewards depending on your personality and what you are naturally inclined towards.

If you ask me directly, I'd say right now mortgage brokers have the best life. The flexibility, without the need for years of study and socializing being a big requirement in order to succeed. Not to mention the earning potential. Look closely and you'll read of stories of high level executives too quitting their day job to start their own mortgage brokerage.