A career in finance isn't all about money, but it's close. For the businessA career in finance isn't all about money, but it's close. For the business

graduate, obtaining a degree is just the beginning. What's left is to take a closergraduate, obtaining a degree is just the beginning. What's left is to take a closer

look at available career options, measuring which industry sectors have thelook at available career options, measuring which industry sectors have the

greatest need for new professionals. The finance industry is multifaceted,greatest need for new professionals. The finance industry is multifaceted,

offering a variety of positions catering to a number of different skills andoffering a variety of positions catering to a number of different skills and

interests. Financial services have multiple sub-industries encompassing nicheinterests. Financial services have multiple sub-industries encompassing niche

opportunities. The key to individual success is to research, locate and land theopportunities. The key to individual success is to research, locate and land the

financial job that has the greatest compatibility with your skills and interests.financial job that has the greatest compatibility with your skills and interests.

The same is true for professionals seeking a change in scenery and who want toThe same is true for professionals seeking a change in scenery and who want to

give a new sector a shot.give a new sector a shot.

Considering Career PathsConsidering Career Paths

Here are some common career paths in the financial-services industry:Here are some common career paths in the financial-services industry:

Corporate FinanceCorporate Finance

Corporate finance jobs involve working for a company in the capacity of findingCorporate finance jobs involve working for a company in the capacity of finding

and managing the and managing the capitalcapital necessary to run the enterprise. This is done while necessary to run the enterprise. This is done while

maximizing corporate value and reducing financial maximizing corporate value and reducing financial riskrisk..

The functions you may implement while in such a position include theThe functions you may implement while in such a position include the

following:following:

Setting up the company's overall financial strategySetting up the company's overall financial strategy

ForecastingForecasting profits and losses profits and losses

Negotiating Negotiating lines of creditlines of credit

Preparing financial statementsPreparing financial statements

Coordinating with Coordinating with outside auditorsoutside auditors

More sophisticated corporate finance jobs might involve mergers andMore sophisticated corporate finance jobs might involve mergers and

acquisitions activity, such as calculating the value of an acquisitions activity, such as calculating the value of an acquisition targetacquisition target or or

determining the value of a division for a spinoff. Corporate finance positions candetermining the value of a division for a spinoff. Corporate finance positions can

be found in companies of all sizes, from large, international entities to smallbe found in companies of all sizes, from large, international entities to small

startups. Additional corporate finance positions include startups. Additional corporate finance positions include financial analystsfinancial analysts,,

treasurers and treasurers and internal auditorsinternal auditors..

Commercial Banking Commercial Banking

Commercial banksCommercial banks, from large entities to local institutions, offer a range of, from large entities to local institutions, offer a range of

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financial services, from financial services, from checkingchecking and and savings accountssavings accounts to to IRAsIRAs and loans. Career and loans. Career

options available in this sector include bank tellers, options available in this sector include bank tellers, loan officersloan officers, operations,, operations,

marketingmarketing and branch managers. Talented professionals can advance from a and branch managers. Talented professionals can advance from a

local branch job to a position in corporate headquarters. Such a promotionlocal branch job to a position in corporate headquarters. Such a promotion

would expose you to a number of other areas, such as international finance.would expose you to a number of other areas, such as international finance.

Investment Banking Investment Banking

Some of the most glamorous - and intense - financial careers are jobs inSome of the most glamorous - and intense - financial careers are jobs in

investment bankinginvestment banking. . Investment-banking jobsInvestment-banking jobs deal with facilitating the issuance deal with facilitating the issuance

of corporate of corporate securitiessecurities and making these securities available for investors to and making these securities available for investors to

purchase, all while trading securities and providing financial advice to bothpurchase, all while trading securities and providing financial advice to both

corporations and wealthy individual investors.corporations and wealthy individual investors.

Typically, investment-banking firms have a number of different divisions andTypically, investment-banking firms have a number of different divisions and

groups with many different objectives and responsibilities. Working in agroups with many different objectives and responsibilities. Working in a

traditional investment-banking firm would allow you to interact with issuers oftraditional investment-banking firm would allow you to interact with issuers of

securities, securities, mergers and acquisitionsmergers and acquisitions professionals or the professionals or the trading desktrading desk, which, which

trades trades stocksstocks, , bondsbonds and other securities in the secondary market. and other securities in the secondary market.

Hedge FundsHedge Funds

Hedge fundsHedge funds are largely unregulated private investment funds whose managersare largely unregulated private investment funds whose managers

can buy or sell a wide array of assets and financial products. Because of thecan buy or sell a wide array of assets and financial products. Because of the

mystery that surrounds this type of entity, mystery that surrounds this type of entity, hedge-fund jobshedge-fund jobs are also considered are also considered

by many to be somewhat glamorous.by many to be somewhat glamorous.

Typical hedge-fund jobs include the following:Typical hedge-fund jobs include the following:

Financial analystFinancial analyst

TraderTrader

Regulatory compliance officerRegulatory compliance officer

Quantitative analystQuantitative analyst

Marketing managerMarketing manager

Portfolio managerPortfolio manager

Private Equity and Venture CapitalPrivate Equity and Venture Capital

Private-equityPrivate-equity professionals help businesses find capital for both expansion and professionals help businesses find capital for both expansion and

current operations. They also provide financing for a number of corporatecurrent operations. They also provide financing for a number of corporate

business transactions, such as managed business transactions, such as managed buyoutsbuyouts and and restructuringsrestructurings. At times, a. At times, a

private-equity job may involve working as an interim executive at a strugglingprivate-equity job may involve working as an interim executive at a struggling

company where your success helps determine the fate of the company.company where your success helps determine the fate of the company.

Venture-capitalVenture-capital professionals (VCs) professionals (VCs)

spend most of their time withspend most of their time with

startups or small, fast-growthstartups or small, fast-growth

companies. Venture-capital firmscompanies. Venture-capital firms

evaluate pitches by founders andevaluate pitches by founders and

small-company leaders to determinesmall-company leaders to determine

if the firm will make an investment.if the firm will make an investment.

Sometimes referred to as "Sometimes referred to as "vulturevulture

capitalistscapitalists,," VCs are known to" VCs are known to

structure deals that favor thestructure deals that favor the

investor, not the company receivinginvestor, not the company receiving

funding. The hope of the VC is that the funded company will some day funding. The hope of the VC is that the funded company will some day go publicgo public

– that is, make its stock available on the public – that is, make its stock available on the public stock marketstock market. . Venture capital is aVenture capital is a

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tough businesstough business where the failure rate is high and the rewards, when they are where the failure rate is high and the rewards, when they are

realized, are huge.realized, are huge.

Financial PlanningFinancial Planning

Financial planners Financial planners help individuals develop planshelp individuals develop plans that will ensure their present that will ensure their present

and future financial stability. Typically, they review a client's financial goals andand future financial stability. Typically, they review a client's financial goals and

generate an appropriate plan for saving and investing that fits the client'sgenerate an appropriate plan for saving and investing that fits the client's

individual needs. The plan may focus on wealth preservation or investmentindividual needs. The plan may focus on wealth preservation or investment

growth and may even include growth and may even include estateestate and tax planning. Most financial planners and tax planning. Most financial planners

work in either large, nationwide groups or smaller, locally based firms. Somework in either large, nationwide groups or smaller, locally based firms. Some

planners charge planners charge flatflat fees, others a percentage of assets under management, fees, others a percentage of assets under management,

receiving receiving commissionscommissions on the products they sell (such as on the products they sell (such as mutual fundsmutual funds).).

Generally, financial planners with the Generally, financial planners with the Certified Financial Planner®Certified Financial Planner® (CFP®) (CFP®)

designation are the most in-demand, as they must obtain three years ofdesignation are the most in-demand, as they must obtain three years of

financial-planning experience, pass several exams (including a two-day, 10-hourfinancial-planning experience, pass several exams (including a two-day, 10-hour

case-study exam) and meet continuing-education requirements.case-study exam) and meet continuing-education requirements.

InsuranceInsurance

Finance jobs in the Finance jobs in the insuranceinsurance industry involve helping businesses and industry involve helping businesses and

individuals anticipate potential risks and protect themselves from losses. Mostindividuals anticipate potential risks and protect themselves from losses. Most

insurance jobs are with large insurance companies. You could insurance jobs are with large insurance companies. You could begin a career inbegin a career in

this sectorthis sector working as a sales rep selling insurance policies, as a customer working as a sales rep selling insurance policies, as a customer

service rep working with existing clients or as an service rep working with existing clients or as an actuaryactuary computing risks and computing risks and

premiumpremium rates according to probabilities based on historical, quantitative data rates according to probabilities based on historical, quantitative data

sets.sets.

Public AccountingPublic Accounting

The field of public accounting is broad, with many opportunities. The field of public accounting is broad, with many opportunities. PublicPublic

accountantsaccountants help businesses and individuals keep track of their finances help businesses and individuals keep track of their finances

according to according to generally accepted accounting principlesgenerally accepted accounting principles (GAAP). Public (GAAP). Public

accountants record business transactions, help prepare financial statements,accountants record business transactions, help prepare financial statements,

audit financial records, prepare income audit financial records, prepare income tax returnstax returns and provide related and provide related

consulting services.consulting services.

Accountants Accountants generally work in partnershipsgenerally work in partnerships. The largest partnerships are known. The largest partnerships are known

as the as the Big FourBig Four (previously the Big Eight and the Big Six) and include Deloitte (previously the Big Eight and the Big Six) and include Deloitte

Touche Tohmatsu, PricewaterhouseCoopers, Ernst & Young and KPMG. ButTouche Tohmatsu, PricewaterhouseCoopers, Ernst & Young and KPMG. But

many jobs also exist at many smaller firms. Typically, new hires start as a staffmany jobs also exist at many smaller firms. Typically, new hires start as a staff

accountant, then advance to audit manager, then tax manager and eventually, ifaccountant, then advance to audit manager, then tax manager and eventually, if

they can maintain the tough working schedule for many years, a partner in thethey can maintain the tough working schedule for many years, a partner in the

firm.firm.

Finding Financial Job OpportunitiesFinding Financial Job Opportunities

Financial jobs exist at almost every company in almost every industry. There areFinancial jobs exist at almost every company in almost every industry. There are

two ways to find openings - online and offline - and it's a good idea to use bothtwo ways to find openings - online and offline - and it's a good idea to use both

methods. Keep in mind that financial jobs are highly specialized, so generic jobmethods. Keep in mind that financial jobs are highly specialized, so generic job

boards are not the best places to seek such positions. Instead, consider nicheboards are not the best places to seek such positions. Instead, consider niche

sites, such as sites, such as Job Search DigestJob Search Digest. When looking offline, specialized executive. When looking offline, specialized executive

recruiters (a.k.a. headhunters) can be excellent resources for both financial jobrecruiters (a.k.a. headhunters) can be excellent resources for both financial job

opportunities and career advice. Your university's alumni association can alsoopportunities and career advice. Your university's alumni association can also

be very helpful by putting you in touch with industry insiders who are willing tobe very helpful by putting you in touch with industry insiders who are willing to

provide some insight and sometimes job leads.provide some insight and sometimes job leads.

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Industry conferences and other networking events are also great places to lookIndustry conferences and other networking events are also great places to look

for financial jobs. Concerning networking, never forget the value of personalfor financial jobs. Concerning networking, never forget the value of personal

interaction - everyone you meet could know someone who knows of a jobinteraction - everyone you meet could know someone who knows of a job

opening. Keep your avenues of communication open by following up in aopening. Keep your avenues of communication open by following up in a

professional, yet personal way, such as a hand-written note or forwarding anprofessional, yet personal way, such as a hand-written note or forwarding an

article of common interest.article of common interest.

Choosing the Right Direction for YouChoosing the Right Direction for You

It is always wise to consider the direction of the market before seeking aIt is always wise to consider the direction of the market before seeking a

financial job. To effectively pursue jobs with the highest probability of success,financial job. To effectively pursue jobs with the highest probability of success,

you must measure the demand for the position. Different financial jobs requireyou must measure the demand for the position. Different financial jobs require

different skills and present vastly different work environments, so it's wise todifferent skills and present vastly different work environments, so it's wise to

select one that select one that aligns with your long-term interests and abilitiesaligns with your long-term interests and abilities. Someone with. Someone with

solid interpersonal skills, for example, might do well as a financial advisor, whilesolid interpersonal skills, for example, might do well as a financial advisor, while

someone who enjoys crunching numbers might do better in public accounting.someone who enjoys crunching numbers might do better in public accounting.

Do the research first to discover your options. The time spent uncovering theDo the research first to discover your options. The time spent uncovering the

most interesting possibilities to you can be time saved working in a job that justmost interesting possibilities to you can be time saved working in a job that just

doesn't fit.doesn't fit.

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