Career Options For A Finance

Life, liberty, and the pursuit of happiness— these were the unalienable rights our forefathers bestowed upon our new nation when drafting the Declaration of Independence; what a far cry from independent our nation has become. Our forefathers guaranteed life and freedom, and the pursuit of happiness; happiness was not a guarantee, but set forth as a challenge for every individual to define and actively pursue for themselves. Surely, when our forefathers declared independence from an oppressive and overbearing king they did not intend for the American Government to become a maternal state that coddles its citizens. Sadly, we have become just that: a nation of citizens dependent upon our government for everything from putting food in our stomachs, to saving money for our retirement.

An organization that I admire and would like to work for in the future is Chase Bank. The most admirable quality of this financial institution has to be its leadership during the financial crises of 2008. Through great task delegation and resource management, this company was able to circumvent detrimental events which could have led to bankruptcy. Since, I am interested in working for a financial institution such as Chase Bank and I am following the educational steps that reflect this desire, it would only be appropriate that in the future a joining of interests from Chase Bank and myself would take place. With further education in finance, I see myself developing a strong foundation of knowledge

As a CEO or a member of the management team it is important to have a very clear understanding of all the financial documents that are available to them. It is not only their duty but their responsibility to know these documents and finances extremely well because

List and describe the three career opportunities in the field of finance. Finance has three main career paths: financial management, financial markets and institutions, and investments. Financial management involves managing the finances of a business. Financial managers—people who manage a business firm's finances—perform a number of tasks. They analyze and forecast a firm's finances; assess risk, evaluate investment opportunities, decide when and where to find money sources and how much money to raise, and decide how much money to return to the firm's investors. Bankers, stockbrokers, and others who work in financial markets and institutions focus on the flow of money through financial institutions and the markets in which financial assets are exchanged. They track the impact of interest rates on the flow of that money. People who work in the field of investments locate, select, and manage income-producing assets. For instance, security analysts and mutual fund managers both operate in the investment field.

A weak fiscal position can cause weak government ability to provide security for property rights, and makes it harder to borrow in the face of security crisis’s. Citizens receive value from government’s role in making and enforcing laws that give citizens the opportunity to freely pursue opportunities. The US is a developed economy but don’t mean its government doesn’t need to retake reform measures. Having an orderly governing body allows private citizens to make long term investment decisions about their personal resources. The government involvement is vital because it provides the best opportunity to accomplish its national investment and growth goals through entrepreneurial spirits of all citizens.

Public Finance is the role of government in the economy. Transparency and accountability in government financial management is crucial. The reading, “Understanding New York City’s Budget” references that due to government spending of taxpayer money to operate various services, several checks and balances such as Audits, City Council Oversight, Mayor’s Management Report (MMR), and Program Evaluation were put in place for accountability. The adherence to policy, procedures, rules, regulations and laws are important when compliance and integrity is the goal.

“The decision to study finance opens doors to perhaps some of the widest ranges of jobs available, as every type of organization needs financial assistance and oversight, no matter what they do. There is no question that the recent financial crisis has changed the landscape of careers in finance, but finance remains among the most competitive and attractive of all career fields (International student)”. The purpose of this paper is to describe two (2) financial career options that an individual with a finance education might pursue and explain the value that such a position adds to a company. The two financial career options that a person with finance education might pursue are financial specialists and finance analysts.

Many student’s expect to receive a salary of $60,000 a year or more, but Pecaut brought the attention to students that it not the norm for a recent graduate to receive a high paying salary. He recommended to apply to internships to gain experience in college to apply to positions that request it. Internships help students learn more about their career and gain the skills several jobs require for finance. Justin also mentioned during interviews it is best to negotiate salary after the job is offered.

One thing all economists do agree on is that income and revenues to spend on resources are scarce. Using particular economic resources for one purpose makes it so that they are not available for another. This may seem like a logical standpoint, but it is one aspect of having scarce resources effecting public policy. Businesses and individuals alike understand the danger o scarce resources and revenues. In terms of individuals, the choice is between consumption and investment whereas for a business it is between capital gains and labor. The public sector has to, for instance, choose between what is done with taxes and spending. Some revenues will need to be raised in order to finance the government, but the real question comes from where those funds come from. The way the government or public sector deals with this is through the type of decision-making that takes place though budgetary processes conducted by the CBO.

Schafer and Bell (2005) discuss some of the things a Chief Executive Officer must do in order to provide strong financial leadership. One thing a Chief Executive Officer must do is hire a financial staff that is knowledgeable about not only basic finance practices but those that are specific to nonprofit needs such as the ins and outs of restricted and non-restricted funds and the use of the Statement of Accounting Standard 117. The CEO must also hire an appropriate amount of staff to make sure everything is being done in the most efficient manner and allow for accountability. Schafer and Bell (2005) also talked about following a standardized set of financial practices that help keep the organization in line with everyone else so if new staff do come in they are able to come into a system that they are more than likely familiar with. The other thing that Schafer and Bell (2005) talk about is having a uniform accounting system. To do this an organization must have a chart of accounts which helps keep track of all financials and makes it easy for non-finance staff to interact with. Most of all, whether an organization’s CEO has a finance background or not it is their responsibility to develop that skill so they are able to successfully navigate that aspect of their organization and have a strong financial presence so they are able to lead in that

The Treasurer will prepare monthly and annual financial reports for distribution. The reports may include: balance sheet, statement of income and expenses, budget versus actual report for each program which has an established budget, a budget versus actual report for the organization, accounts receivable aging, accounts payable register and aging, cash flow projection, and any other requested reports.

It is the board's responsibility to consider and authorize a suitable remuneration package for the company's chief executive officer (CEO), make recommendations with respect to the attractiveness of dividends and dividends pay out, approve stock splits, form the audit committees, approve the company's financial statements, oversee management’s involvement in the shareholders and other stakeholders long-term interests and recommend or discourage major decisions such as acquisitions and mergers.

According to an online salary information website, a banker who just graduated and has their high school diploma will earn about twenty five dollars an hour at a bank. ( Earning Gap Between, 8) Take in mind this individual will have to go through a training program in order to be able to achieve the correct banking skills for the job. Although twenty five dollars an hour is a great pay for someone who didn 't have to stress out on college classes, financial aid, and etc. it is not equal to what you would obtain if you had a college degree. Having your college degree at a bank earns you a better chance on getting a higher position, resulting in a better pay! You can go from earning twenty five dollars an hour to earning forty dollars

From an early age I learned that our very best is often brought to action when we willingly take on challenges and persevere with grace through trying times. As a widowed, single mother, my mom strove for excellence in every area of her life in order to put food on the table for her children. She studied to be a nurse, quickly rose in to administration, became the first in our family to obtain a Masters in Business Administration (MBA), and earned a seat as a director for an international healthcare organization. Her determination and positive spirit served as a great example and sparked a passionate drive in my life to help others while striving for greatness.

Like most multinational corporations, the shareholders own the company and they may also be the board of directors. A Chief Executive Officer (CEO) will be appointed to nominate and manage the operation of the company as a whole. A Chief Operating Officer (COO) will be managing the company’s day-to-day operations and reports them to CEO. The Chief Financial Officer (CFO) will be managing the finance and account together with the