JOBTALKSJOBTALKS

Career Optionsin Finance

Indiana UniversityKelley School of BusinessC. Randall Powell, Ph.D

Contents used in this presentation are adapted from Career Planning Strategies and used with the permission of the author.

CAREER OPTIONS INCAREER OPTIONS INFINANCEFINANCE

Business X420

Kelley School of Business

Indiana University

Consider credentials you have to offerEmployers

Your resume is an important part of understanding what you have to offer employers

Follow-up with a review of what your career options are

What do you really want to do?

Starting a Job SearchStarting a Job Search

To aid in exploring job options, try a functional management approach

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Multiple Options to ExploreMultiple Options to Explore

Management AssumptionManagement Assumption

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Because you hold a college degree, you might strive for a management or administrative opportunity

There are logical starting assignments for a management career

Senior Manager, Top Executive?... Where do you start?

Break management down. What will you be managing?

Three basicfunctions will be done in nearly all work environments

FINANCEFINANCE

MARKETINGMARKETING

OPERATIONSOPERATIONS

Functional ApproachFunctional Approach

The Operations function creates the product or serviceThe Finance function keeps the enterprise viableThe Marketing function delivers the product or service to the customers

The Three FunctionsThe Three Functions

ACCOUNTING AND FINANCEACCOUNTING AND FINANCE

• Controller

• Partner

• Auditor

• Accountant

• Financial Analyst

• Real Estate Manager

• Tax Specialist

• Credit Manager

Accounting and FinanceAccounting and Finance

Tax Preparation

Cost Studies Financial

AnalystTYPE

OFWORK

Auditing Pricing

Reporting

Accounting AdvancementAccounting Advancement

Accountant / Analyst

Senior / Manager

Manager / Controller

Sr. Manager / Director

Partner / VP

TYPICALPROMOTION PATH

• Highly Selective• Emphasize Grades• Outgoing Personality• High Pay

– Great Training

• Drawbacks– Travel

– Turnover

PUBLIC ACCOUNTINGPUBLIC ACCOUNTING

Public Acctg. Job SeekersPublic Acctg. Job Seekers

InterviewEarly

Feedback

SmallFirms

BeRealistic

INTERNAL AUDITORINTERNAL AUDITOR

• Accounts for funds• Conducts project analyses• Recommends actions• Internal consultant

Cuts across all

organizationalreporting lines

Industrial Accounting:Industrial Accounting:Fortune 500 FirmsFortune 500 Firms

• Highly Selective

• Top Salaries• Training

Accounting SalariesAccounting SalariesClass of 2005Class of 2005

Average Range Avg Signing Bonus

Corporate $41,802 $24,705 - $53,000 $2,000

Public Acctg $46,486 $39,000 – $55,000 $1,800

Overall $46,381 $24,705 – $55,000 $3,000

Accounting Employment by PositionAccounting Employment by PositionClass of 2005Class of 2005

Top Hiring CompaniesTop Hiring CompaniesClass of 2005Class of 2005

American ExpressBear, Stearns & Co.BKD LLPCinergy Corp.Crowe, Chizek & Co. LLCDauby O'Connor & ZaleskiDefense Finance & AccountingDeloitte & Touche LLPEli LillyErnst & Young US LLPFord Motor CompanyGeneral Electric CompanyGoldman Sachs & Co.Grant Thornton LLP

IBM CorporationJ.P. Morgan Chase & Co.Johnson & JohnsonKatz, Sapper & Miller, LLPKPMG LLPMcGladrey & Pullen, LLPMotorola, Inc.Ostrow, Reisin, Berk & Abrams LLP

Plante & MoranPricewaterhouseCoopersSherwin-Williams CompanyStandard & Poor'sUBS Investment BankZimmer, Inc.

PersonalPersonalQualitiesQualitiesSoughtSought

FINANCE:FINANCE:

• Analytical mind• Enjoy project

work• Presentation

skills• Attention to

detail• Organized• Attitude

BANKINGBANKING

• Bank of America• Bank One• Harris Bank• LaSalle Bank• National City Corp.• Wells Fargo

BANKINGBANKING

Installment Lending

Branch Management

Trust

CommercialLending

InternationalOperations

Credit Analysis

FUNCTIONSPersonal Banking

BANKINGBANKING

• Qualifications:• Degree Depends On Function• Preferred Majors:

– Finance

– Economics

– Systems

• Depends On Size

– Management

– Real Estate

– Marketing

Investment BankingInvestment Banking

• Top grades REQUIRED

• Prefer some experience (internship, workshop) in investment banking

• Long hours an industry standard

• Future MBAs strongly encouraged.

INSURANCEINSURANCE

• Allstate

• Anthem/Wellpoint

• CIGNA

• Mutual of Omaha

• Northwestern Mutual Financial Network

• Primerica

• State Farm

Management

TrainingAdjusters Actuarial

TYPES OFJOB

OPPORTUNITIES

Sales InvestmentData

Management

FINANCE SUMMARYFINANCE SUMMARY

• Overview

• Many Opportunities

• Further Interest?

• Explore In More Depth

Salary StatisticsSalary StatisticsClass of 2005Class of 2005

Average

Signing

Average Range Bonus

Financial Analyst $46,625 $31,200 - $65,000 $4,000

Banking $43,071 $33,000 – $47,000 $2,800

Corporate Finance $45,551 $36,500 –$53,000 $2,900

Insurance $31,667 $30,000 – $35,000 -

Investment Bking $54,500 $25,000 – $65,000 $10,000

Real Estate $40,750 $35,000 - $50,000 -

Overall $46,641 $25,000 – $65,000 $3,500

Employment by PositionEmployment by PositionClass of 2005Class of 2005

Top Hiring CompaniesTop Hiring CompaniesClass of 2005Class of 2005

Abbott Laboratories*AccentureAmerican ExpressBank of America*Baxter Healthcare Corp.*Bear, Stearns & Co.Central Intelligence AgencyCrowe, Chizek & Co. LLCCummins, Inc.*Defense Finance & Accounting*Deloitte & Touche LLPEaton Corporation*Eli Lilly

* Finance Rotation Programs

Epic Systems CorporationErnst & Young US LLPFedExFord Motor CompanyGeneral Electric Company*Goldman Sachs & Co.IBM CorporationJ.P. Morgan Chase & Co.Johnson & Johnson*Kohl's Department StoresKPMG LLPLaSalle BankLehman Brothers

International JobsInternational Jobs

Interest in Foreign Nationals Not Hired Directly Moved Later

International ExpertsInternational Experts

Recruit International Experts

18-24 Months Assignment

Language Helpful

Language and Cultural Training

Request Transfer to International

Types of Consulting: Compensation/Benefits Strategy only MIS Operations

ConsultingConsulting

Skills: Conceptual and analytical Interpersonal Quantitative Communication (oral & written) Organizational Technical

ConsultingConsulting

Associate or Consultant (2-3 years)

Senior Associate (1-2 years)

Manager or Principal (2-4 years)

Vice President or Partner

Typical Career PathTypical Career Path

Get a broad overview

Can't cover ALL aspects

Total Career Total Career ExplorationExploration

If you would like to If you would like to learn more, learn more, Career Career Planning StrategiesPlanning Strategies textbook will supply textbook will supply additional information additional information on this topic.on this topic.