A finance tutor is responsible for providing study help to individuals who are looking to gain a better understanding of financial concepts, methodologies, and equations. Although the world of finance is vast, typically a finance tutor will specialize in a specific financial niche. These specialties can range from basic accounting principles to more complete financial analysis such as calculating net present values (NPV), internal rates of return (IRR), and earnings before interest and taxes (EBIT), just to name a few.
The financial industry features 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 finance tutor be well versed in a variety of financial specialties in order to best serve the needs of the student. A finance tutor will generally have a graduate degree, such as a master's degree in business administration, or extensive experience in the financial industry. Many tutors will also have a variety of financial certifications as well, with the Chartered Financial Analyst (CFA) certification being the most prestigious and recognized certification in the industry.
In addition to providing study help to students, a 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 can change as well. A finance tutor must be able to quickly adapt to the changes in the industry in order to ensure that students are provided with the most up-to-date financial concepts and practices.
A person looking to become a finance tutor can either work independently as a sole proprietor, or can 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 additional responsibility may be too much to handle for a finance tutor who is simply looking to generate additional income; therefore, many tutors choose to begin this career by working with a tutoring company.
The growth of technology within the financial industry has fueled a demand for finance tutors. Finance tutors familiar with these emerging technologies now specialize in areas ranging from online stock trading and analysis to quantitative programming. In addition, technological communications advances, such as online video chatting, have now made it possible for a finance tutor to offer study guidance to students all over the world.
