For many young people coming of age in an uncertain world, finance offers what other industries can’t: stability, influence and the prospect of strong financial rewards.
But for Catholics considering the field, the attraction is often accompanied by a question: can you succeed in finance without compromising your values?
The industry’s reputation – shaped by high-profile scandals and portrayals such as The Wolf of Wall Street – can leave the impression that success comes at a moral cost.
Catholic Development Fund Sydney general manager Peter Bokeyar believes that tension is real, but not insurmountable.
“Catholic social teaching helps you within that,” he told The Catholic Weekly. “A lot of decision-making involves listening to others, respecting the person across the table from you, and working towards a common goal.”
The Catholic Development Fund lends to Catholic entities across the Archdiocese of Sydney and operates under both church oversight and financial regulation.
Bokeyar said young professionals should resist the pressure to accept roles that do not align with their values.
“Make sure you’re aligned with where you’re going, because you won’t be happy if you take a job just for the sake of getting a job,” he said.
“My advice would be to step back and think, ‘Perhaps this is not the place for me, and there’s another place that better fits my values.’”
He added that ambition itself is not the problem.
“There’s nothing wrong with aspiring to earn good money, but it should reflect your effort and skills,” he said. “You can absolutely have a successful and enjoyable career in finance without losing your Catholic identity.”
Adam Walk, a deacon and director of investment consulting firm Drew, Walk & Co, said the perception of finance as inherently unethical does not reflect the reality of most professionals.
“There are far more people just trying to earn an honest living,” he said.
He argued that finance plays an essential role in society, particularly through connecting capital with those who need it.
“There’s a belief that finance doesn’t add value, but intermediation – bringing together those with resources and those who need – them is vital,” he said.
At the same time, Walk acknowledged that ethical questions are unavoidable. Increasingly, investors are seeking to align their decisions with their values, avoiding industries such as tobacco or weapons and considering environmental, social and governance factors.
“There’s a whole debate about what you should invest in,” he said. “I’ve worked with Catholic clients, including religious orders, who have very clear guidelines about what they will and won’t invest in.”
But even here, the path is not always straightforward. Walk pointed to concerns such as “greenwashing,” where companies overstate their positive impact, highlighting the need for careful judgement.
For investment analyst Dalton Fogarty, the compatibility between faith and finance runs deeper than ethical safeguards – it is rooted in the church’s own tradition.
“In essence, expecting a return for money you provide to others is consistent with centuries of Catholic teaching, provided it is done justly,” he said.
He pointed to historical examples such as the ‘Mounts of Piety,’ church-supported institutions that provided low-interest loans to the poor, as evidence of a long-standing engagement with financial practice.
Fogarty said his work is shaped by a sense of vocation.
“I feel that God is asking me to participate in this industry,” he said. “It takes a lot of mental energy, so I try to balance that with prayer and reflection about why I’m doing this.”
“I see my work as helping my community by maintaining a high standard in what I do. That’s consistent with living out my faith.”
He added that finance is often misunderstood.
“It deserves greater appreciation for its contribution to human flourishing,” he said.
For students considering this path, Australian Catholic University and the University of Notre Dame Australia offer finance degrees grounded in ethics and Catholic Social Teaching, while universities such as Sydney, UNSW, UTS and Macquarie provide established pathways into the industry.
Sydney Bishop Tony Percy studied finance before entering the priesthood. He agreed business and finance can serve the common good when properly directed.
“Eliminating poverty requires the creation and responsible distribution of wealth,” he said.
“So for Catholics working in finance, the challenge is not whether the industry is perfect, but whether they can help shape it towards something better, guided by faith, integrity and a commitment to the common good.”
