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Investment Banking
Investment bankers help companies raise money by creating securities—stocks, bonds and other financial entities—to be sold in capital markets.
They also structure the complex financial details that accompany a business's choice to buy and sell assets or to acquire or merge with other companies.
Not only does investment banking require the fortitude to navigate high-stakes sales, it also demands a highly accurate combination of analytical and numerical skills. Even with these abilities, however, it is difficult to advance without an MBA degree. Many people put in a few years in a junior analyst position, then return to school to get a graduate degree, and then come back to the investment banking firm to continue their career at a higher echelon and with far less rigorous time expectations.
Financial Analyst
Corporate financial analysts chart a company's financial course based on goals prescribed by management and use a variety of tools and techniques to keep the company on track.
It is the analyst's responsibility to prepare both internal financial reports for management and external reports for companies that are publicly owned.
They sift through incoming streams of financial data and use it, along with market data, to set expectations for future performance.
With this kind of major monetary responsibility, it is not surprising that corporate finance jobs require exacting precision; even small errors can cost a company a fortune. Those who do well have an impressively well-attuned attention to details and are able to accurately and efficiently analyse vast amounts of data.
Financial Planning
Financial planners work with individuals to set the plans that will allow them to achieve financial goals such as buying a home, sending kids to University and having a comfortable retirement.
More so than other finance careers, financial planning requires excellent communication and interpersonal skills; it is crucial that practitioners can understand their clients' needs and convey complicated tax, insurance, investment and estate-planning advice. Many in the field start out in large firms and eventually move into private practice, which affords a greater deal of independence.
Money Management
Excellent money managers are essential to success for any business. Money managers can work in small or large businesses, the legal field, insurance, government or as private consultants. They advise on investment activities, develop and oversee the preparation of financial reports, direct investment activities and implement cash management strategies. Money managers also develop strategies for implementing the long-term goals of their organization.
A career in money management can be quite demanding but also quite rewarding. Incomes are high, but hours can be long; many financial managers work within tight deadlines and under immense pressure. Whether you work for a large corporation overseeing long-term business planning, a small business managing investments, or as a consultant, your expertise and time will be in demand and you will be expected to rise to the responsibilities of managing important assets. As the world of international trade grows, a money manager must understand and comply with federal, state and international laws and regulations, as well as continue to develop new products and complex financial instruments.
Accounting
Accounting is the art of communicating financial information about a business entity to shareholders and managers of the company. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management.
Such financial information is primarily used by managers, lenders, investors, tax authorities, regulators and other decision makers to allocate resources between and within companies, organisations and public agencies.
It involves the process of recording, verifying and reporting the value of assets, liabilities, income and expenses in the books of accounts to which debit and credit entries are chronologically posted to record changes in value.
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