Area
Employer
Information/Strategies
Area:
Corporate and Public Finance
Sub-Area:
- Financial Analysis
- Cash Management
- Credit Management
- Budget Analysis
- Investment Management
- Investor Relations
- Financial Reporting
- Payroll
- Benefits
- Real Estate
- Risk Management
Employers:
- Private businesses of all sizes and types
- State and local government entities
- Federal agencies including:
- Internal Revenue Service
- Treasury Department
- Schools and universities
- Non-profit organizations
- Foundations
- Hospitals
Strategies & Information:
- Complete a related internship.
- Develop strong computer skills, including spreadsheets, databases, and presentation software.
- Sharp analytical skills are crucial in this industry.
- Earn an MBA to reach the highest levels of corporate finance.
Area:
Banking
Sub-Area:
- Corporate Credit Analysis
- Commercial Lending
- Trust Management
- Capital Services and Mergers & Acquisitions
- Mortgage Loans
- Originations and Packaging
- Branch Management
- Operations
- Cash Management
- Credit Scoring and Risk Management
- Private Banking
Employers:
- Commercial banks
- Credit unions
- Savings and loan associations
- Savings banks
- Mortgage banks
- Captive finance companies
- Regulatory agencies including:
- Federal Reserve, FDIC, OCC, OTS
Strategies & Information:
- Develop a solid background in business including marketing and accounting.
- Get experience through part-time, summer or internship positions in a financial service firm.
- Develop strong interpersonal and communication skills in order to work well with a diverse clientele.
Area:
Insurance
Sub-Area:
- Claims Analysis
- Underwriting
- Risk Management
- Sales
- Actuarial Science
- Loss Control
Employers:
- Life insurance firms
- Property and casualty insurance firms
- Commercial banks
- Savings banks
Strategies & Information:
- Complete an internship with an insurance agency.
- Talk to professionals in the industry to learn more about claims, underwriting, and risk management. Many good, entry-level positions exist in these areas.
- Initiative and sales ability are necessary to be a successful agent or broker.
- Develop strong communication skills, as many positions require interaction with others and the ability to explain information clearly and concisely.
- Take additional statistics classes to prepare for a career in actuary science. Prepare to take the first in a series of actuarial examinations.
Area:
Personal Financial Planning
Sub-Area:
- Sales
- Customer Service
- Operations
- Portfolio Management
Employers:
- Brokerage firms
- Trust companies
- Financial partnerships
- Multi-line insurance firms
- Sole practitioners
Strategies & Information:
- Gain experience in sales.
- Demonstrate a highly motivated and entrepreneurial personality.
- Research how one obtains the Certified Financial Planner (CFP) designation.
- Develop a solid personal network.
Area:
Real Estate
Sub-Area:
- Residential Brokerage
- Commercial Sales
- Appraisals
- Property Management
- Real Estate Portfolio Management
Employers:
- Real estate brokers
- Commercial banks
- Appraisal firms
- Apartment and condominium complexes
- Developers
- Large corporations: real estate departments
- Real estate investment trusts
- Mutual funds
Strategies & Information:
- Obtain sales experience through part-time, summer or internship positions.
- Research how to become a real estate broker through the National Association of Realtors.
- Develop an entrepreneurial spirit.
- Research apprenticeships in appraisal.
Area:
Investment Banking
Sub-Area:
- Corporate Financial Analysis
- Mergers and Acquisitions
- Equity and Debt
- Underwriting
- Institutional Bond and Equity Sales
- Retail Bond and Equity Sales
- Business Valuation
- Business Sale Transactions
- Currency Trading
- Derivatives, e.g. options
- Trading
- Venture Capital Fund Management
- New Venture Analysis
Employers:
- Investment banking firms
(Changes in laws have created a fluid situation in this industry; Mergers and acquisitions continue to take place.)
- Financial services firms
- Insurance firms
(The Gramm Leach Bliley Act of 1999 allowed financial services firms to acquire or build investment banking subsidiaries and vice versa.)
Strategies & Information:
- An M.B.A. is required to move beyond the entry-level analyst position in investment banking. Investment banking is highly competitive.
- Be prepared to work many hours of overtime per week, start at the bottom, and pay your dues.
- Develop strong analytical and communication skills.
- Cultivate personal ambitiousness.
- Obtain a Series 7 License for both institutional and retail broker sales positions.
- Work toward the CFA designation.
Area:
Money Management
Sub-Area:
- Research
- Trading
- Marketing
- Portfolio Management
Employers:
- Portfolio management firms
- Commercial banks
- Investment banks
- Federal Reserve banks
- Insurance firms
Strategies & Information:
- Most positions require an advanced degree in economics, finance or business and many years of financial experience.
Area:
Accounting
Sub-Area:
- Corporate or Government Including:
- Financial Management
- Financial Reporting
- Cost Accounting
- Tax Planning
- Research
Employers:
- Companies of various sizes, in all industries
- Federal agencies and departments including:
- Federal Bureau of Investigation
- Internal Revenue Service
- Department of the Treasury
- Office of Management and Budget
- Securities Exchange Commission
- State and local agencies
Strategies & Information:
- Sometimes opportunities in accounting exist in government and corporate settings for finance students.
- Take more than the required amount of accounting classes to supplement finance curriculum.
- Maintain a strong g.p.a.
- Complete an internship in a government agency and become familiar with the government application process to work in the public sector.
General Information and Strategies
- Quantitative skills are extremely important. Take additional courses in math, statistics, and accounting.
- Many positions in finance require the ability to analyze and interpret data.
- Develop strong interpersonal and communication skills. Cultivate an eye for detail.
- Gain experience through internships, summer and part-time positions.
- Read the Wall Street Journal and other financial news magazines to stay abreast of current events and to learn more about the industry.
- Join student professional associations in the field of finance.
- Several professional designations and licenses, e.g. Chartered Financial Analyst or Certified Financial Planner, are available to finance professionals working in a particular area. Earning these designations may help one obtain advanced positions.