Finance - PDF by wendang

VIEWS: 381 PAGES: 9

finance

More Info
									Finance
“Finance is the art of passing currency from hand to hand until it finally disappears.” ~Robert W. Sarnoff The complex world of finance can be defined in a variety of ways ranging from the study of money and other assets, to the science of managing money, or even from profiling and managing project risks, to the management and control of assets, or to the delivering of financial services. With a finance major you can study topics such as commercial and investment banking, forecasting and budgeting, and asset and liability management. You will learn a lot about money, stocks and bonds, and how the market functions.

What Can I Do With This Major? Areas Employers
Corporate and Public Finance Financial Analysis Cash and Credit Management Budget Analysis Investment Management Banking Corporate Credit Analysis Commercial Lending Branch Management Insurance Claims Analysis Risk Management Sales Personal Financial Planning Sales Customer Service Portfolio Management Investment Banking Corporate Financial Analysis Venture Capital Fund Management Private businesses of all sizes and types State and local government entities Schools and universities Federal agencies

Commercial banks Credit unions Regulatory agencies

Life insurance firms Commercial banks Savings banks

Brokerage firms Trust companies Financial partnerships Sole practitioners Investment banking firms Financial services firms

*Please visit our website for a complete listing at: www.business.wayne.edu/majors
Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

Specialist Areas
The following list contains a representative sample of specialist areas and job titles of former graduates with a finance degree. Use this as an idea list, and remember that it represents some, but certainly not all, of the careers you might consider with a finance degree. For all of the positions listed, it is highly recommended that you obtain a finance internship while you are still enrolled as a student. Some specialist areas listed require education beyond a bachelor’s degree. • • • • Corporate Finance Financial Planning Investment Banking Money Management

Related Career Titles
Listed below are samples of career titles, descriptions, and average salaries that finance graduates may pursue. According to the latest National Association of Colleges and Employers (NACE) salary report, the average national salary for finance majors obtaining their undergraduate degree is $48,616**. Use the following list as a national representative sample when researching for your career. Job Title: Budget Analyst Job Description: Manages the inputs of budgets, various projects, data collection, and writing and editing reports. Develops, analyzes, and executes budgets that are used to assess future financial needs. Average Starting Salary*: Less than one year of experience: $41,290 1-4 years of experience: $47,055 Job Title: Credit Analyst Job Description: Conducts financial statement reviews for loan officers, as well as comprehensive statement spreading. Assists loan reviews and external auditors. Average Starting Salary*: Less than one year of experience: $36,308 1-4 years of experience: $40,593

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

Related Career Titles (cont.)
Job Title: Financial Analyst Job Description: Participates in and coordinates the design, testing, implementation, and evaluation of automated and manual financial accounting systems. Complies with accounting policies and procedures, and understands the operation of existing accounting systems. Average Starting Salary*: Less than one year of experience: $44,962 1-4 years of experience: $49,069 Job Title: Financial Planner Job Description: Develops and implements financial plans for individuals, businesses, and organizations by using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate Average Starting Salary*: Less than one year of experience: $40,374 1-4 years of experience: $43,711 Job Title: Stockbroker Job Description: Invests in securities, money and various financial products on behalf of institutional, corporate and private clients. Offers recommendations on buying and selling stocks based on analysts’ interpretations of financial market. Average Starting Salary*: Less than one year of experience: $31,185 1-4 years of experience: $40,048 Job Title: Securities Analyst Job Description: Conducts research on organizations within a specific industry in order to make investment strategy recommendations Average Starting Salary*: Less than one year of experience: $50,684 1-4 years of experience: $50,892 Job Title: Investment Banker Job Description: Advises clients on high level issues of financial organization. Manages the issuance of bonds, recommends and executes strategies for taking over and merging with other companies, and handles selling a company’s stock to the public. Average Starting Salary*: Less than one year or experience: $59,104 1-4 years of experience: $60,693
**Giordani, Pattie. NACE Salary Survey. NACE. Bethlehem, PA. 2008. *All average salaries are National Averages. 2008. The PayScale Report. Retrieved May, 20, 2008, from http://www.payscale.com/index/US/Job

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

Top Paying States for Financial Analysts
State Employment Hourly mean wage $48.24 $47.35 $43.32 $42.86 $42.85 Annual mean wage $100,350 $98,490 $90,110 $89,150 $89,120 Percent of State employment 0.431% 0.355% 0.162% 0.400% 0.224%

New York Connecticut California Massachusetts New Jersey

36,690 5,970 24,630 12,830 8,910

US Department of Labor: Occupational Outlook Handbook. Retrieved, May 23, 2008, from Related Web Sites www.data.bls.gov

Related Web Sites
Job Listings:
Wayne Biz www.waynebizcareers.com Wayne State University School of Business Administration (SBA) Career Planning and Placement Office online recruiting system, exclusive to business students and SBA alumni. To get access to our system, visit the Career Planning and Placement Office, or go directly to the WayneBizCareers website Financial Job Network www.financialjobs.com Financial Job Network provides a job search engine for job seekers in the field of finance and accounting Nation Job www.nationjob.com/financial Nation Job provides an online job search engine for job seekers. Allows job seekers to post their resume and apply for jobs online. MonsterTRAK www.monstertrak.com MonsterTRAK is a great way to post your resume on one of the internet’s most recognized websites Bank Jobs www.jobinthemoney.com Bank Jobs is a professional finance job search engine. Provides career information and recruits employees for financial institutions. Robert Half International Staffing www.roberthalf.com Robert Half recruits employees with backgrounds in accounting and finance. This site provides a free job search with online help from professionals who have knowledge in finance and accounting. Finance Professional Worldwide www.fjn.com Financial Job Network is an online source that provides job opportunities for finance professionals worldwide

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

Related Web Sites
Career Planning & Information: www.careers-in-finance.com Finance career information in commercial banking, corporate finance, financial planning, insurance, investment banking, money management, and real estate www.careermag.com Career Magazine provides industry specific career channels with information tailored to suit specific career goals www.saludos.com/cguide/bguide.html#finplanners Saludos specializes in joining the Spanish/English bilingual professional with companies looking for diversity in the workplace www.careerbank.com Career Bank is a career center for the accounting, finance, mortgage, insurance and banking community www.stats.bls.gov/oco/ocos003.htm Occupational Outlook Handbook: Budget Analysts

Organizations and Associations: American Association of Finance and Accounting www.aafa.com American Association of Finance and Accounting specializes in the recruiting and staffing of finance and accounting professionals Financial Managers Society www.fmsinc.org/ Financial Managers Society is devoted to the needs of finance & accounting professionals from financial institutions

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

Related Web Sites
National Employer Information: Merrill Lynch www.ml.com Merrill Lynch is a national investment bank. It offers capital market services, investment banking and advisory services, wealth management, investment management, insurance, banking, and related services on a global basis

Smith Barney www.smithbarney.com Smith Barney is a financial firm that provides brokerage, investment banking and assets management services to corporations, governments, and individuals

Goldman Sachs www2.goldmansachs.com Goldman Sachs is a global investment banking company that provides services in investment banking, trading and principal investments, assets management, and securities services

JP Morgan www.jpmorgan.com JP Morgan is a company that focuses on capital markets and investment in a variety of other fields such as equities, fixed income, real estate, hedge funds, and private equity and liquidity

Wachovia Corporation www.wachovia.com Wachovia provides personal financial services in investment, insurance, banking, lending, and retirement

For more information on finance careers please stop by the School of Business Administration Career Planning and Placement Office during business hours.

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

Major Banks, Thrifts and Credit Unions in Metro Detroit
Company Name
Bank of America

Address, Phone, Website
2600 W. Big Beaver Rd. Troy, MI 48084 (800)643-9600 www.lasallebank.com 900 Towers Drive, Suite 100, Flint, MI 48908 (248) 293-3050 www.citizensbanking.com 500 Woodward Ave., Detroit, MI 48226 (248) 371-5000 www.comerica.com 120 N. Main Mount Clemens, MI 48043 (586) 783-4500 www.communitycentralbank.com 1360 Porter St. Dearborn, MI 48304 (313) 565-5700 1000 Town Center Southfield, MI 48075 (877) 579-5353 www.53.com 16100 East Nine Mile Road Eastpointe, MI 48021 (586) 755-5000 www.thefsb.com 5151 Corporate Dr. Troy, MI 48098 (248)312-2000 www.flagstar.com

Citizens Republic Bancorp

Comerica Bank

Community Central Bank Corp.

Dearborn Bancorp Inc.

Fifth Third Bank- Eastern MI

First State Financial Corp.

Flagstar Bancorp Inc.

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

FNBH Bancorp Inc.

101 E. Grand River Ave. Howell, MI 48843 (517) 546-3150 www.fnbsite.com 24725 W. 12 Mile Road Southfield, MI 48034 (248) 358-5170 www.franklinbank.com 801 W. Big Beaver Road Troy, MI 48084 (248) 296-2307 www.huntington.com 201 W. Big Beaver Road, Suite 125 Troy, MI 48038 (248) 689-1200 www.independentbank.com 755 W. Big Beaver Road Troy, MI 48084 (888) 622-4932 www.nationalcity.com

Franklin Bank

Huntington National Bank

Independent Bank East Michigan

National City-Southeast MI

Northern Trust Bank

10 W. Long Lake Road Bloomfield Hills, MI 48304 (248) 593-9300 60 S. Washington St., Oxford, MI 48371 (248) 628-2533 www.oxfordbank.com 1800 E. 12 Mile Road Madison Heights, MI 48071 (248) 548-2900 www.psbnetbank.com 1 Towne Square, Suite 1700 Southfield, MI 48076 (248) 355-2400 www.sterlingbank.com

Oxford Bank Corp.

PSB Group Inc.

Sterling Bank & Trust

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu

TCF National Bank Michigan

17440 College Parkway Livonia, MI 48152 (734) 542-2900 www.tcfbank.com 38505 Woodward, Suite 1300 Bloomfield Hills, 48304 (248) 644-2301 38880 Garfield Road Clinton Township, 48084 (586) 416-1650 www.warrenbank.com

The Private Bank

Warren Bank

Wayne State University | School of Business Administration | Career Planning and Placement Office | 5201 Cass Avenue, 103 Prentis Building | Detroit, MI 48202 | 313-577-4781 | bizcareers@wayne.edu


								
To top