Undergraduate Students

Exploring Careers

Career Paths for Finance Majors

Career Description

Finance is much more than math and money. It incorporates such skills as math, economics, accounting, and analysis. Students majoring in finance have a wide variety of career opportunities (see examples below) ranging from financial planning for individuals and multinational corporations, to investment banking which focuses on helping corporations raise funds through various financial markets.

Sample Career Opportunities

Retail Banker/Bank Manager- More people are employed in Retail Banking than in any other area of the finance industry. Commercial banks provide a full range of financial services to individuals and businesses small and large.

Financial Advisor- Financial Advisors meet with individuals to help them create a personalized plan of saving, investing and spending to meet their long-term goals. They can be independent or part of a larger firm or corporation.

Financial Analyst/Trust Analyst- Financial Analysts must have a broad understanding of finance. Analysts often research the financial performance of their own company and competitors, create and implement budgets, evaluate potential acquisitions/mergers, are involved in financial reporting, etc.

Auditor- For accuracy and fairness, an auditor reviews a company’s financial reports and their method of gathering the data. Auditors frequently use a range of accounting and finance skills.

Investment Banker- Well known for long hours in the office, Investment bankers offer companies high-level financial advice and strategy. Frequent responsibilities include the issuance of bonds, financial strategy for mergers and acquisitions, and stock management. Thorough understanding of finance, economics and strategy are required daily.

Mortgage/Real Estate Banker- A mortgage banker helps individuals or businesses with financial real estate transactions by providing them with a loan. Though real estate bankers often operate as independent firms, most commercial banks have real estate banking departments.

Skills Needed

Following are some skill sets that Finance employers will commonly look for during interviews:

• Basic finance quantitative skills

• Ability to plan and administer budgets

• Strong presentation and writing skills

• Experience preparing financial reports

• Critical thinking capabilities

• Familiarity with technology, especially data processing tools

Resources for Further Research

Online Resources:

• Career in Finance http://www.careers-in-finance.com/: 
  Commercial Banking, Corporate Finance, Financial Planning, Insurance, Investment Banking, Money Management, Real Estate

• E-Financial Careers http://www.efinancialcareers.com/: 
  Jobs and career management in the financial markets, banking & finance; check out its Sectors link under News & Research on the left panel—provides concise introductions to different sectors within the finance field.

• Virtual Business Information Center http://www.vbic.umd.edu: 
  Finance/Investing link under “Specific Academic Areas”; this site offers variety of financial information; for help, go to “VBIC Help” on the left panel

• Wet Feet guides http://www.wetfeet.com/cb/schools/toc.asp?dpid=119:
  A variety of publications (Insider Guides) on various industries, specific careers, individual companies, and career search strategies

• Salary Expert- salary, bonus, cost-of-living, and benefits data for US, Canadian and international jobs: http://www.salaryexpert.com

Print Resources:

• Fast Track: The Insider's Guide to Winning Jobs in Management Consulting, Investment Banking, and Securities Trading by Miriam Naficy

• Finance 2001, Harvard Business School Career Guide

• Resumes for Banking and Financial Careers, VGM Career Horizons.

• Heard on the Street: Quantitative Questions from Wall Street Job Interviews, by Timothy Falcon Crack.

• Venture Capital and Private Equity: A Casebook by Josh Lerner.

• Job Seekers Guide to Wall Street Recruiters, by Christopher Hunt and Scott Scanlon

• Your Successful Real Estate Career by Kenneth E

Finance Employers at Smith

Following is a small sample of employers who recruit finance majors at Maryland. The positions are just an example. Always be sure to read the actual job description thoroughly. Sometimes assumptions from the job title may be misleading. You can find out more through SOURCE or the OCM.