If you are looking for a job that combines both the best of the rural life while also getting involved in the dynamic city markets, then a career within agricultural finance might just be perfect for you. Our experts at Agricultural Recruitment Specialists have created this brief guide detailing what agricultural finance is, and why you should consider getting into it.
What is agricultural finance?
For anyone who is looking for a career working with money, but is also interested in the rural life and farming jobs, then pursuing jobs within agricultural finance is well worth doing. Agricultural finance covers a whole range of different jobs, including working with first-time farmers and helping them to finance their start-up programmes, balancing the books of existing farms, or even researching patterns within the farming and produce markets, while also predicting future trends. Any job within agricultural finance will be similar to those jobs in finance outside of the agricultural sector, so it is easy for anyone interested in or who already has a career in finance can quickly and easily move into this area.
What are some of the specific jobs available?
As suggested, there are many different roles within agricultural finance, and this means that anyone who enjoys working with money can find a job that is exactly right for them. Here are some of the most common jobs:
Chief Financial Officer: Also known as a CFO, the main responsibilities here involve protecting company and farming assets, reporting on financial data and working on financial strategies based on current data and figures to help make the company more profitable.
Controller: Controllers are directly responsible for meeting the financial targets that have been set for the company. Within this, controllers manage policies, procedures, and strategies surrounding company budgets, other members of the finance team and payroll.
Accountant: Financial accounts take responsibility for all matters regarding the tax of farmers and their estates. In this position, you may work for a specific agricultural accountancy firm, be linked to a single farming estate, or could even work freelance, managing multiple clients at once as when you wish.
Credit Analyst: Credit Analysts are responsible for collecting debts from clients by creating payments plans. This job is usually more customer focused than other agricultural finance roles, so may suit someone who enjoys meeting new people and working face to face.
What skills are needed for agricultural finance jobs?
Whilst the specific skills needed for a job in agricultural finance will depend upon the specific role that you take, there are a number of skills that are universal to this sector:
Excellent understanding of figures, and fast mental arithmetic skills
Ability to explain facts, figures, and findings to people who may have less understanding than you
Multitasking, and prioritising tasks between different projects
Connecting data and costs to real-world events
Pattern recognition, especially within financial markets
Understanding the impact of global events on the farming sector
In addition, there are several other industry-specific skills that would be helpful should you wish to pursue a career in agricultural finance including:
Accountancy or financial training, including a degree
Some high-level roles may require a CPA or a CFA licence
Understanding of the farm credit system, and agricultural subsidies
Interest in global trade, especially within the EU
So why choose a career within agricultural finance?
There are a number of different reasons why people should seek a job in agricultural finance – we have spoken to our experts and these are the top reasons they listed:
1. Job security
The job market for the business side of the agricultural industry is often very secure, with very few jobs at risk, despite the move towards automation and digitalisation of many industries. As such, people are likely to have job security throughout their career, giving them peace of mind to focus on the job that they enjoy.
2. An ideal mix of city and countryside
Finance jobs are usually connected to the city, but agricultural finance allows people who prefer the rural lifestyle to still work with money and markets. Depending upon your position, you are likely to find yourself travelling between the city and the countryside too, allowing you to experience the best of both worlds, without tying yourself to one or the other.
3. Ability to move in and out of the sector
As the finance jobs that you do for agricultural finance are often likely to be similar to other finance jobs, it means that you will gain the skills and experience needed to take on a host of other work in the future outside of this sector. Therefore, for anyone looking to pursue a career in accounting or finance but is unsure of where they want to specialise, agricultural finance will provide them with a great opportunity to learn all of the skills necessary, while still keeping doors open for the future.
4. Ease of progression
While there are many agricultural finance jobs available, the vast majority of which are impervious to digitalisation, not too many people decide to pursue a career in this area. This has resulted in agricultural finance being far less competitive a field than other financial sectors. Not only does this mean that getting onto the first rung of the ladder can be less of a challenge than you may think, but it also means that career progression can be swift for those with the right amount of talent, skills, and dedication.
How do I find a career in agricultural finance?
Agricultural Recruitment Specialists pride themselves in taking the time to work closely with both candidates and clients to find out their exact needs. By approaching each person as an individual, it means we can work together to build up an exact picture of how we can help you find exactly what you are looking for. We recruit and headhunt across a wide range of ability and experience levels so can help you find your perfect career in agricultural finance, whether you are a recent graduate or a seasoned professional. For more information about how we can help you, please contact us at https://www.agrirs.co.uk/contact-us.
