Career Options in Finance

Being a finance student, it becomes paramount to consider different options that can lead to a fulfilling career in the future. To do get a perspective of such careers, this paper will consider two careers; Financial Analyst and Investment Banker. The value of the two careers, as well as the necessary skills required to be in those careers, will be evaluated. Towards the end, this paper will recommend one of the two careers. 

Financial Career Options and Value of such Careers to Employers

Finance education is an opener to different pathways. In an article that appeared in Forbes Magazine, Kochanek (2008) explains that there are different niche opportunities in the financial services and sub-industries. Such careers include; a financial analyst, and investment banker, which will be focused on in this section. 

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A financial analyst is an individual who acts as the main actor in the financial show or any corporate organization. The position comes with the responsibility of finding and managing capital that the enterprise in question needs and wants. A financial analyst is required to be the mastermind of optimizing corporate value while at the same bringing financial risk of the business to the bare minimum. As such, the financial analyst will be tasked with setting the company’s overall financial strategy. Further forecasting revenues, profits, and losses for the purposes of future planning are also part of the job. A financial analyst will stand up to negotiate for credit lines for the organization and during mergers and acquisitions, it is the same position that is tasked with developing the best method that will guarantee the financial success of the organization even after such major events. 

An investment banker is a glamorous career in investment banks. The career comes with the responsibility of being there for corporate and heavy duty individuals. As such, an investment banker will facilitate and advise clients on the issuance of corporate securities and how to develop effectively portfolios with optimum returns. One is actively involved in advising clients on how to develop high-value solutions with regards to stocks, bonds, as well as other assets and securities in the secondary market. An investment banker will also find themselves working out solutions involving hedge funds.

Essential Skills for a Financial Analyst and an Investment Banker

A financial analyst is a respectable professional who needs to prove themselves through results. Montaño, Cardoso, and Joyce (2004) explain that a financial analyst is not only judged by their technical knowledge but also on communication skills. A financial analyst deals with a multitude of other professionals right from accountants, financial managers, to marketers, and economists. As such, there is a need for developing innovative communication and interpersonal skills to ensure smooth working. Other skills include impeccable accounting and financial reporting skills. A financial analyst is required to have an analytical eye, which will make them swift in problem-solving processes. Innovativeness, management experience, and a commercial acumen are critical in ensuring that the professional goes full cycle in their line of duty. 

An investment banker requires high-level interpersonal and professional skills. An investment banker interacts with people of different cadres who are interested in them at personal and at corporate levels. As such, the need for intellectual abilities cannot be overridden. The need for analytical skills is necessary since most of the times, investment bankers are required to draw conclusions from numbers and scenarios quickly. After analyzing information, an investment banker is required to have top of the range presentation and communication skills so that investors can get their message as well as accord them their trust. To articulate ideas completely, an investment banker needs to have management and leadership skills, and entrepreneurial skills. Investment bankers offer advice on how to invest and as such, they need to have an eye for good deals. 

Recommendation 

A career as an investment banker looks extremely rewarding both emotionally and financially. It is an exciting career that is highly pressured, demanding, and nerve wrecking at times. For those who operate on adrenaline and results, this is a perfect career, which requires the combination of the mastery of emotional, intellectual, and economic factors and pointers. It is a career that requires one to be knowledgeable in politics, economy, and investments. Finding a balance and opportunities between the three elements can be confusing but highly rewarding when one gets it right. The career does not reward one for doing or thinking the obvious, but from predicting and finding patterns in the economic world and devising means to exploit them. The profession comes with intense personal relationships between investment bankers and their clients. According to Chemmanur, Ertugrul, and Krishnan (2017), clients who develop relationships with investment bankers, often move with them even when they move to new investment banks. This means that there is the propensity of returns if one is diligent in their work. With such demand, one earns more. 

References

Chemmanur, T., Ertugrul, M., & Krishnan, K. (2017). Is it the investment bank or the investment banker? A study of the role of investment banker human capital in acquisitions. Journal of Financial and Quantitative Analysis (1) 1-79

Kochanek, D. (2008). Financial Career Options. Forbes. Retrieved from https://www.forbes.com/2008/12/10/career-finance-banking-pf-ii-in_dk_1210careers_inl.html#6026ab2439e4Montaño*, J. L. A., Cardoso, S. M. J., & Joyce, J. (2004). Skills development, motivation, and learning in financial statement analysis: an evaluation of alternative types of case studies. Accounting Education, 13(2), 191-212.

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