Finance

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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?
Publié le : jeudi 21 juillet 2011
Lecture(s) : 260
Nombre de pages : 9
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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
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
Private businesses of all sizes and types
State and local government entities
Schools and universities
Federal agencies
Cash and Credit Management
Budget Analysis
Investment Management
Banking
Corporate Credit Analysis
Commercial banks
Credit unions
Regulatory agencies
Commercial Lending
Branch Management
Insurance
Claims Analysis
Life insurance firms
Commercial banks
Savings banks
Risk Management
Sales
Personal Financial Planning
Sales
Brokerage firms
Trust companies
Financial partnerships
Sole practitioners
Customer Service
Portfolio Management
Investment Banking
Corporate Financial Analysis
Investment banking firms
Financial services firms
Venture Capital Fund Management
*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
Related Web Sites
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
State
Employment
Hourly
mean
wage
Annual
mean
wage
Percent of
State
employment
New York
36,690
$48.24
$100,350
0.431%
Connecticut
5,970
$47.35
$98,490
0.355%
California
24,630
$43.32
$90,110
0.162%
Massachusetts
12,830
$42.86
$89,150
0.400%
New Jersey
8,910
$42.85
$89,120
0.224%
US Department of Labor: Occupational Outlook Handbook
. Retrieved, May 23, 2008, from
www.data.bls.gov
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
Address, Phone, Website
Bank of America
2600 W. Big Beaver Rd.
Troy, MI 48084
(800)643-9600
www.lasallebank.com
Citizens Republic Bancorp
900 Towers Drive, Suite 100,
Flint, MI 48908
(248) 293-3050
www.citizensbanking.com
Comerica Bank
500 Woodward Ave.,
Detroit, MI 48226
(248) 371-5000
www.comerica.com
Community Central Bank Corp.
120 N. Main
Mount Clemens, MI 48043
(586) 783-4500
www.communitycentralbank.com
Dearborn Bancorp Inc.
1360 Porter St.
Dearborn, MI 48304
(313) 565-5700
Fifth Third Bank- Eastern MI
1000 Town Center
Southfield, MI 48075
(877) 579-5353
www.53.com
First State Financial Corp.
16100 East Nine Mile Road
Eastpointe, MI 48021
(586) 755-5000
www.thefsb.com
Flagstar Bancorp Inc.
5151 Corporate Dr.
Troy, MI 48098
(248)312-2000
www.flagstar.com
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
Franklin Bank
24725 W. 12 Mile Road
Southfield, MI 48034
(248) 358-5170
www.franklinbank.com
Huntington National Bank
801 W. Big Beaver Road
Troy, MI 48084
(248) 296-2307
www.huntington.com
Independent Bank East Michigan
201 W. Big Beaver Road, Suite 125
Troy, MI 48038
(248) 689-1200
www.independentbank.com
National City-Southeast MI
755 W. Big Beaver Road
Troy, MI 48084
(888) 622-4932
www.nationalcity.com
Northern Trust Bank
10 W. Long Lake Road
Bloomfield Hills, MI 48304
(248) 593-9300
Oxford Bank Corp.
60 S. Washington St.,
Oxford, MI 48371
(248) 628-2533
www.oxfordbank.com
PSB Group Inc.
1800 E. 12 Mile Road
Madison Heights, MI 48071
(248) 548-2900
www.psbnetbank.com
Sterling Bank & Trust
1 Towne Square, Suite 1700
Southfield, MI 48076
(248) 355-2400
www.sterlingbank.com
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
The Private Bank
38505 Woodward, Suite 1300
Bloomfield Hills, 48304
(248) 644-2301
Warren Bank
38880 Garfield Road
Clinton Township, 48084
(586) 416-1650
www.warrenbank.com
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