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Money and Capital 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 customer service representative 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.

Many finance majors go to work for financial institutions, including banks, insurance companies, mutual funds, and investment banking firms. For success here, one needs a knowledge of valuation techniques, the factors that cause interest rates to rise and fall, the regulations to which financial institutions are subject, and the various types of financial instruments (mortgages, auto loans, certificates of deposit, and so on). One also needs a general knowledge of all aspects of business administration, because the management of a financial institution involves accounting, marketing, personnel, and computer systems, as well as financial management. An ability to communicate, both orally and in writing, is important, and "people skills," or the ability to get others to do their jobs well, are critical.

Investment management

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.

Finance graduates who go into investments often work for a brokerage house, either in sales or as a security analyst. Others work for banks, mutual funds, or insurance companies in the management of their investment portfolios; for financial consulting firms advising individual investors or pension funds on how to invest their capital; for investment banks whose primary function is to help businesses raise new capital; or as financial planners whose job is to help individuals develop long-term financial goals and portfolios. The three main functions in the investments area are sales, analyzing individual securities, and determining the optimal mix of securities for a given investor.

Financial management

The staff employed in the Finance Department under the guidance of Finance Director are concerned with three principal tasks: monitoring when the money is coming in and going out; monitoring where it is coming from and going to; monitoring how much is following backwards and forwards.

These various tasks are carried out by Financial Accountants, Management Accountants, Financial Analysts, who are responsible for preparing the financial accounts of the business, budgeting and giving advice on the advisability of new investment proposals.

In order to undertake these functions effectively, accurate and up to-date financial information is needed. Therefore the collection, presentation and evaluation of financial data are central to the work of the department. Entry level positions in this department for those with associate degrees and limited experience in finance include data processing clerks, investor relations specialists, and accounts payable staff positions. Promotion opportunities generally lead to managerial positions such as credit manager, or financial accounting manager. Senior financial management positions include CFO, corporate comptroller, and treasurer. Financial management is the broadest of the three areas, and the one with the most job opportunities. Financial management is important in all types of businesses, including banks and other financial institutions, as well as industrial and retail firms. Financial management is also important in governmental operations, from schools to hospitals to highway departments. The job opportunities in financial management range from making decisions regarding plant expansions to choosing what types of securities to issue when financing expansion. Financial managers are responsible for the financial health of an organization. They produce financial reports and develop strategies and plans for the long-term financial goals of their organization. Regardless of which area a finance major enters, he or she will need a knowledge of all three areas. For example, a bank lending officer cannot do his or her job well without a good understanding of financial management, because he or she must be able to judge how well a business is being operated. In the financial services industry, one of the most coveted careers is that of the financial analyst. Financial analysts can work in both junior and senior capacities within a firm and it is a niche that often leads to other career opportunities. If you're interested in a career as a financial analyst, read on to find out what you can do to groom yourself for the job. Financial analysts gather information, assemble spreadsheets, write reports, and review all information about prospective deals. They examine the feasibility of a deal and prepare a plan of action based on financial analysis. Being an analyst requires an awareness of financial trends. Similarly, corporate financial managers need to know what their bankers are thinking about, and they also need to know how investors judge a firm's performance and thus determine its stock price. If you have an ambition to become a tax advisor then it’s important that you clearly understand all the duties of a tax consultant. The list of duties can be listed as follows:

-Act fairly and with a higher degree responsibility with Internal revenue service;

-Knowledge of all prevailing tax laws and advising the clients regarding the accuracy of their documents advice on the best practice when preparing and submission of documents to Internal Revenue Service;

-Evaluation of reasonableness of assumptions made in tax calculations.

So, if you decide to make finance your career, you will need to know something about all three areas. Since virtually all important business decisions have financial implications, important decisions are generally made by teams from the accounting, finance, legal, marketing, personnel, and production departments.