Banking on Employment

When we think of jobs in finance the ones that come to mind first are usually the more glamorous fields: venture capital, corporate acquisition. “Merrill Lynch is bullish on America.” “Talk to Chuck.” In reality most financial jobs are in banking, probably because there are so many aspects to the banking business.You should go for a job that interest you, visit http://degreesanddebt.com/2014/02/01/discover-what-most-interests-you/ link to discover your interest.

Finance majors can use their skills not only in managing simple checking and savings accounts, but also in loan processing, credit cards, investments, leasing, international trade and credit, and much more. Banks welcome a talent for salesmanship as well, since they would certainly not prosper without aggressively touting bank services such as business and home loans, investments, lines of credit, and so forth.

Investment banks are the province of securities trading. They issue securities for companies and governments, trade and manage securities for investors and advise clients on asset management. Smaller “boutique” firms may specialize in the management of large investment blocks or portfolios (program trading), merger and acquisition, bond trading, and statistical analysis of trends.For Banking employment you may have a degree in accounting or MBA or if you want to increase your chances of higher paying job you may consider double majors.

Managing Someone Else’s Money

The next biggest market for financial skills is probably corporate finance, that is, helping a business to use their money to best advantage through wise management. This would include day to day decisions about spending and acquisitions, long term planning and forecasting, risk management and spreadsheet records. Usually corporate money managers work in teams to ward off financial problems and to solve those that do come up. At the top of the ladder in corporate money management is the senior analyst, who keeps track of where the money is going, who is managing it well and who is not, how to make more, what to do with it next, and communicating all this to those who need know. It is a challenging and generally well-paying field.

Banking on Employment

Money management for large financial concerns is usually done by a handful of well-known brokerage firms such as Merrill Lynch, Fidelity and Wachovia. These companies deal with a host of investment choices including stocks, commodities, municipal bonds, and insurance. They calculate three levels of risk, low, medium and high and with the client’s permission try to balance each portfolio among these risk levels. Low risk investments are safe, but may not yield much; medium risk will bear somewhat more interest; and high risk might double its value, or tank out in a matter of days. Only the most experienced brokers with the best track records work for these firms, so they may be hard to break into.

Little People Need Help, Too

Those who want to strike out on their own might try financial planning for individuals. Most people have savings that they would like to earn a little more just a small percentage of interest in a savings account. Like the larger institutions, financial planning advisors use a variety of investments and risk levels to maximize the yield of the client’s portfolio. If you start your own business or work for a smaller firm the money is not as good as it would be with a larger concern, but there is added satisfaction in helping people with whom you have personal contact.

Out on a Limb on the Money Tree

Recent listings for slightly more unusual jobs in finance have included credit card fraud analyst, casino financial manager, internal auditor and compliance manager. A compliance manager combines finance training with legal knowledge. It is his or her job to see to it that an organization is in compliance with state, federal and local laws, as well as industry and company standards in all their money dealings.

Then there is the lowly CPA. Accounting may not seem glamorous, but it does involve working with businesses other than financial institutions and, for the independent contractor, provides a variety of situations that other jobs may not see. Not only that, but there has been an upswing in demand for accountants, especially overseas. So, while CPAs may not make as much money as some others in the financial world, they will always be able to find jobs and may even travel to distant lands.

The job market for finance majors is varied and plentiful. You are fortunate enough to have many opportunities. Do some research on these jobs and take your choice.

Edgar @ Degrees and Debt

AuthorEdgar @ Degrees and Debt

Founder of Degrees and Debt. Edgar just wrapped up his MS in Project Management with a focus on Information Security Management. Battling back to even from student loans, mortgage and credit card debt is an art Edgar is learning to master. This is his journey.