Careers in Finance

Careers in finance vary as widely as the scope of finance itself. Some of these career paths require extensive, highly specialized knowledge and advanced degrees. Others begin with entry-level positions open to enthusiastic, hard­working individuals regardless of their undergraduate ma­jors.

The scope of finance has increased so much over the past decade that the field is generally subdivided into three parts. Financial markets and institutions, financial man­agement, and investments are commonly considered to be separate disciplines.

Careers in Institutions and Markets

Entry- level positions in financial institutions and mar­kets can include everything from bank teller to credit trainee. A person with a strong finance background would probably begin as an administrative assistant to a loan of­ficer, or as a junior financial analyst in either the credit department or the research department of a depository in­stitution. Positions such as a customer service representative or mortgage servicing specialist in an insurance company or a mortgage banking company, respectively, are generally staffed by people with limited finance backgrounds. More experienced individuals would be eligible for loan officer, branch manager, or senior analyst positions.

Careers in Financial Management

Entry- level positions for those with associate degrees and limited experience in finance include data processing clerks, investor relations specialists, and accounts payable staff positions. Finance majors find entry- level positions as junior accountants in cost or financial accounting depart­ments, budget analysts, or financial planners. Promotion opportunities generally lead to managerial positions such as cash manager, credit manager, or financial accounting manager. Senior financial management positions include CFO, corporate controller, and treasurer.

Careers in Investments

Generally it is the investment area that attracts people to finance. They see an appealing opportunity to control multimillion dollar investment portfolios, or to be part of an investment banking institution engaged in mergers and acquisitions. Most brokerage houses, however, provide entry level positions as registered representatives (for those who qualify by passing specific NASD (National Association of Securities Dealers) examinations), or as investment or industry analysts. Clerical and assistant positions are always available with the major brokerage houses for those with limited experience, but excellent self-motivational skills. Senior employment opportunities include portfolio manager, senior investment analyst, and investment counselor.

1. The scope of finance is generally subdivided into three parts. What are they?

2. What can entry- level positions in financial institutions include?

3. Where would a person with a strong finance background begin?

4. What can you say about entry- level positions and promotion opportunities in Financial

5. Management?

6. What are the appealing opportunities in the invest­ment area?

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