Careers In Finance

Nature Of Work of Finance Professionals

A career in finance involves a whole range of functions, such as determining the impact of decisions that are made in nearly all functional areas on the financial front. This includes administering portfolios and formulating personal financial plans for investors, supervising banking operations, evaluating and suggesting company’s capital budgets and strengthening bank relationships.

Professionals engaged in the finance industry deal with how individuals and institutions handle their financial resources, the methods they use to raise money, its allocation, and how they use it. They also assess the risks these activities involve, and recommend various ways of managing them.

Occupations in Finance

The finance sector has a wide range of occupations to choose from. You can become a portfolio or credit manager, security analyst, opt for the insurance sector, or become a corporate financial officer, financial consultant or lending officer. Below are some of the additional roles that you can pursue:

– Bank Manager

– Financial Analyst

– Accountant And Auditor

– Appraiser and Assessor of Real Estate

– Budget Analyst

– Claim Adjuster

– Examiner

– Investigator

– Cost Estimator

– Tax Examiner

– Revenue Agent

Job Opportunities in Finance

The job opportunities in the financial sector are equally vast and varied, a few of which are given here. All of them offer a highly rewarding and satisfying career.

Commercial Banking – The commercial banking sector employs a greater number of finance professionals than any other area of the financial services industry. Jobs in the banking industry have a direct client interface with people from all sections of the society, which offers opportunities for clientele development. The starting point would be as tellers, after which people shift to other areas of banking services like credit card banking, trade credit, leasing and international finance.

Corporate Finance – This would involve employment in a corporation, generally as a finance officer. The main job responsibilities would entail securing financial resources for developing the business of the company. The money can be utilized to make acquisitions to expand the company and secure its future.

Financial Planning Consultancy – You may set up a financial planning consultancy of your own or seek employment in an existing one. This work involves helping individuals in planning their finances for their children’s education, or their retirement needs. It requires answering questions and educating clients about risk factors, to help them to invest their money wisely. Being employed in a corporate setting is also an option, with a job profile related to future financial planning. It would require a firm understanding of investments, estate and tax planning.

Investment Banking – Investment banking pertains to helping investors in buying, trading and managing financial assets. This field offers opportunities to work in world-renowned investment banks like Salomon Smith Barney, Goldman Sachs and Merrill Lynch.

Insurance – The insurance industry has achieved revenues of over trillion dollars. It is one field that has tremendous scope of absorbing finance professionals. The work is mainly about managing risks and identifying problem areas. According to estimates, it employed nearly two and a half million people in the U.S. in the year 2005. One could work as an underwriter, customer service representative, actuary or an asset manager, in this sector.

A career in finance can be pursued in a wide variety of fields. The financial sector offers opportunities that are intellectually and financially rewarding.

The Different Types of Insurance Careers You Could Get Into

If you are looking to start a new career than you might be interested to know that the insurance industry can offer you a broad spectrum of career opportunities. If you have a strong background in math and great people skills than pursuing a job as an insurance service representative or an underwriter may just be the path you want to take. Though these positions usually require a college degree and some even require an insurance license both of which are fairly easily obtained if you have the drive to succeed.

There are generally 5 different fields that you may want to pursue as an insurance career, the first that will be talked about is agents and brokers. Agents or brokers may also be known as insurance producers who offer their clients insurance products and keep their policies up to date. They will usually solicit business over the telephone or web but may also have offices where possible clients may walk in to obtain a new policy. A producer must be licensed to perform their duties and sell and service insurance policies. On average an agent or broker will earn an annual income of about $34,322.

Another insurance based career you may want to pursue is an underwriter. Once a producer has taken an application from a prospective client they send the completed application to an underwriter. The underwriter will then review the application to ensure that the applicant is eligible for insurance from the company. They may then approve the application, contact the agent and ask for more information pertaining to the client or decline the application if the prospect is ineligible. An underwriter may also review current policies and if claims are excessive cancel it. The insurance underwriter usually earns about $47,955 annually.

The next career to be explained when looking for a job in insurance is actuaries. Actuaries determine what the premiums of an insurance policy will be, they analyze statistics and determine what the probability of a claim being received will be. They may also keep track of the company’s cash reserves to make sure there is enough cash on hand to pay out any future claims. Actuaries will also help write the actual policy and provisions. The average annual salary of an actuary may vary widely and range from $55,798 to $97,028 based on what the actuary is handling for the company.

A career path that you may be interested in is a claims adjuster. A claims adjuster is the person who will assess any claims and decide what the proper amount of money to be paid out is. As an example if a client is involved in a auto accident the claims adjuster will examine your vehicle and assess the damage done to the vehicle and give the client the necessary amount of money for the repairs. Adjusters are usually required to travel as they will often have to visit a policy holder’s home. An adjuster will generally earn about $44,741 per year.

The fifth and final insurance career that will be discussed is the service representative. If a client ever has a question or problem with their policy they may call the insurance companies headquarters, these clients will usually deal with a service representative. A service representative will answer a clients question about billing or make general changes to a client’s policy, such as adding a driver or changing your address. In some cases a representative is required to hold a valid insurance license. The average pay scale for a service representative is $32,328 annually.

So now that you know the different types of careers you can get into with an insurance job it may make it easier to decide if this is a field you want to get into. You may need to get some extra schooling or obtain your insurance license but if the field of insurance interests you it will not be that big of a deal to take the time to obtain either one of these simple pieces of paper.

Discover 3-Six Figure Jobs on a List of Salaries For Careers

In this article, you’ll easily discover six figure jobs which can be found on a list of salaries for careers. We are talking about the $100K a year range; which contains some of the highest paying occupations that undoubtedly call for hard work and consistency.

You get no free lunches on your road to wealth. Moreover, there are no get rich quick routes available to you either. As a matter of fact, you should plan and plot your pathway by learning each of the six figure jobs found on the list of salaries for careers.

Career moves are always an acceptable option. Increasing your education foundation adds favorable versatility to the skills you bring to the table. This angle can certainly enhance your ability to reach your six figure income goal. This article will consider salaries of six figure jobs.

Software Engineers

You’ll need a bachelor’s degree in computer programming in order to get yourself a decent start. Depending on where you obtained your degree, you could start right on the precipice of $100k per year.

That’s a solid start to any career. It will take some time for you to reach the magical $150k arena, but with experience and hard work, it can be achieved.

Actuaries

Do you have exceptional math and statistical skills? Are you comfortable in the financial or insurance sector? Consider becoming an Actuary.

Mind you, actuaries must go through so many rigorous certification exams; that by the time they become an Actuary they are in the $120K area anyway. Topping out at $160k is not unheard of.

Actuaries do a lot of number crunching, estimates, insurance and investment strategies. The vast majorities hold a bachelor’s degree in statistics, math or finance and sometimes they hold advanced degrees.

Marketing Managers

If you are worth your salt as a Marketing Manager, you’ve got it made. You can end up in a very demanding position, but you can also wind up raking $170k into the coffers.

Depending on your experience, advanced degrees, organizational skills and most of all your creativity, that $170k can end up being left in the dirt. The sky would be the limit.

Marketing Managers must be able to juggle, while always keeping their eye on the ball. They must be able to jell customers, with products and services. They lead complex marketing campaigns that involve not only customers, but also their competition.

When considering how each of these six figure jobs makes it onto a list of salaries for careers, two planks that seem to be necessary ingredients are experience and continuous education. These are some of the highest paying occupations, so hard work must also be figured into that mix.