The Finance Major
A career in commercial banking allows you to be involved in the life of your community. Commercial banks provide banking services to individuals, small business, and large companies. There are more people employed in commercial banking than in any other part of financial services industry. Jobs in banking offer excellent opportunities to help people with their personal and business plans, to interact with customers, and to build long-term community relationship. Commercial banking offers wild range of job opportunities, starting at the branch level where you might start out as a teller to a wide variety of other services such as leasing, credit card banking, commercial and retail lending, credit analysis, international finance, risk management, and trade credit.
Successful companies must have skilled people at all levels, including leaders who develop and articulate sound strategic visions; managers who make valued-added decisions, design efficient business processes, and train and motivate work forces; and, of course, capable work force willing to implement the company’s strategies and plans.
A career in corporate finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for it's financial future and manage any cash on hand. You might work for a large multinational company or a smaller player with high growth prospects. Responsibility can come fast and your problem-solving skills will get put to work quickly in corporate finance. The key to performing well in corporate finance is to work with a long view of what and how to make your company successful.
Financial planners help individuals plan their financial futures. How are you going to cover your retirement needs? What do you have to do today to put your children through college? This work can be personally and financially rewarding and requires excellent interpersonal skills. A good financial planner understands investments, taxes, estate planning issues and knows how to listen. This is an excellent career path to finance and accounting double majors, who are entrepreneurs. Your earnings potential is unlimited and the work is very rewarding if you like to help people. Increasingly, it pays to obtain the Certified Financial Planner (CFP) designation.
Do you like to "crunch" the numbers? Do you like to analyze market trends? Do you get an adrenaline rush when a stock takes off? If so, then money management may be the career for you. Money managers hold stocks and bonds for institutional clients and are on the buy side of Wall Street. Successful money managers use the latest sophisticated quantitative techniques and simple intuition – a hunch. Each money manager has their own unique style. The key to being successful is to have discipline, well developed analytical and writing skills, be broad-minded and be willing to admit defeat if an investment goes against you. Unfortunately, it is hard to get started in money management fresh out of college. Good places to begin are in bank trust departments, state and local pension funds and in insurance companies. If you have the social skills and intelligence required to market money management services, to get started today, study portfolio theory, learn equity and fixed income investments, take the CFA exam and, above all, learn the industry. Over a third of the world's wealth is tied up in real estate. Real estate is collateral for mortgages and a large amount of financial assets. There are more than five million people in the United States employed in real estate fields such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development. In addition, many finance graduates work in corporate real estate and in real estate lending in commercial banks, savings and loans, and insurance companies where their jobs are not included in the real estate sector.