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A
finance career is often confused with accounting and banking, but it
involves a significantly different set of positions, skills, and
qualities. A finance school offers the training to become a decision
maker for organizations including government agencies, stockholders,
and other financial organizations. A finance career involves
understanding a client’s goals and finding resources to reach them.
Although the minimum level of education for a rewarding finance
career is a bachelor’s degree, many students pursue a finance MBA
program to increase their career opportunities. An online finance
degree is also becoming an attractive option for students who can
receive the necessary finance training from a distance.
Job Description
and Responsibilities of Finance School Graduates
A finance career
begins with formal training at a finance school, and there are many
opportunities available for graduates in the field. Most financial
managers and professionals in this industry are involved with:
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Understanding
various functions and applications of the market
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Learning how
to allocate funds for the public and private sector
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Working with
both domestic and international organizations
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Accessing
financial information online
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Applying
financial document information and developing strategies
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Working with
financial trade analysts and budget departments
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Researching a
client or organization’s financial status
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Making
recommendations based on financial goals
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Develop cash
management strategies and track investment activities
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Collaborate
with financial departments to grow and acquire financial strengths
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Help build
financial futures for business owners, homeowners, and companies
A finance class
or training program can be specialized in a particular field so that
the student. This allows the student to become trained in a specific
area such as personal financial management, corporate financial
management, or even banking.
Finance Career
Options After Graduation from Finance School
Attending
finance school enables students to gain a firm understanding of the
industry, as well as choose a specialization as they move ahead with
their finance career. A student may also take part in an internship
or work study program to increase their choices after graduation.
Common fields and positions after a finance course of study include:
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Financial
manager
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Securities
broker
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Commodity
contracts manager
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Insurance
sales
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Financial
analyst
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Controller
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Cash manager
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Risk or
insurance manager
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Bank branch
manager
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Personal
financial or asset manager
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Business
advisor
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Financial
planner
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Financial
consultant
A finance career
is commonly found in banking, financial institutions, and government
offices. Some financial managers choose to own and operate their own
businesses and work as independent contractors. Professional
certification is required for investment professionals who wish to
specialize in their field, and enrollment in a finance class
throughout the career track is another option to stay up to date
with the industry.
Finance
School Classes, Courses, and Finance Training Programs
The most common
finance training programs available at finance school include:
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Commercial
Banking
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Corporate
Finance
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Financial
Planning
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Insurance
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Investment
Banking
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Money
Management
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Real Estate
All of these
fields are considered specializations within a finance career, and
require varying skills and strengths. Enrollment in a finance course
program or finance class requires strong analytical, mathematical ,
and problem solving abilities. Finance training can also be
completed on the job, or through a work study or internship
program. In all of these positions, interpersonal and
problem-solving skills are very important.
A finance
education from an accredited school allows students a chance to
prove that they completed their degree at a credible institution. An
online finance degree offers an alternative for those interested in
pursuing a finance course program from a distance.
Experience can
sometimes be more important than a formal finance education, but
this depends on the nature of the specialized industry and the
demand for the financial manager at that time. Banks typically
promote from within for careers as a branch manager, while other
financial managers enter their field with a formal management
finance training program from the company itself.
Professional
certification is another opportunity to increase skills and
qualifications, and a variety of associations offer professional
certification programs. The CFA Institute provides Chartered
Financial Analyst designation to investment professionals. The
Association for Financial Professionals (AFP) provides the Certified
Cash Manager designation. The Institute of Management an Accounting
offers the Certified in Financial Management designation.
Online Finance
Degree Options
An online
finance degree is a valuable opportunity for students who need to
complete their finance education from a distance, or choose to work
full time and need to receive additional finance training. Although
finance training may be completed through a company, supplementing
an education with an online finance degree can open up new
opportunities for a finance career in the long term. Online finance
degree programs may offer a finance course and classes such as:
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Financial
Management
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International
Business
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Leadership in
Finance
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Management
Information Systems
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Corporate
Financial Management
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Organizational
Development
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Finance MBA
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Bachelor of
Business Administration - Finance
A finance MBA
program allows students to extend their education and focus on
research, corporate development, and industry statistics. A finance
MBA program can be completed in under two years, and is an
attractive opportunity for students who want to excel in their
finance career.
Finance School
Accreditation
The majority of
finance schools are accredited by the same party as the business
school that they are associated with. The Accrediting Commission on
Higher Education in each region is most often involved with the
accrediting business schools around the country. The Association to
Advance Collegiate Schools of Business has granted specialized
business school and finance school accreditation to over 500
degree-granting institutions around the world.
Earning
Potential and Employment Prospects with a Finance Career
The demand for experienced financial professionals and advisors is
steadily rising as more businesses, companies, and individuals are
confronted with a competitive economy. Financial managers can be
found in almost every industry, but the majority are employed by
finance and insurance establishments such as banks and insurance
carriers. With the ongoing rises and shifts in the economy, the need
for specialized financial managers and professionals is increasing;
employment for those who pursue a finance career is expected to grow
as fast as average through 2014, and those at the managerial level
will face the most competition. Financial managers in the securities
and commodities industry are expected to be most favorable.
Median annual earnings of financial managers were $81,880 in 2004,
while those that specialized in the local government sector had
annual earnings of $67,260 in the same year. Related occupations
include:
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Accountants
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Auditors
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Insurance sales agents
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Financial analysts
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Loan officers
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Real estate brokers
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Insurance underwriters
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