Why Finance?
The
financial industry expanded at a fast pace for almost three decades. Currently,
the industry is a major employer. It ranks behind only construction and health
care in the number of jobs. The major banks alone employ more than 170,000 individuals.
There are no signs that this trend will change any time soon. Recent
developments suggest that the industry is expected to grow at a faster rate. As
the number of individuals who will be retiring per year over the next ten years
is increasing, the need for financial services is likely to increase.
The growth in the
financial services increased the complexity and sophistication of the industry
jobs. Financial experts are asked to perform highly technical tasks that
require knowledge of specialized management techniques designed for that
particular task.
Usually, salaries will
rise with the complexity and sophistication of the jobs. As the number of
individuals who will be able to perform a task decreases the salary that will
be demanded by the competent individuals will increase. The financial industry
pays relatively higher salaries compared to other industries.
The
Department of Finance and Management Science
The
department is well positioned to prepare students for future careers in
finance. The Faculty are experts in their fields of specialization, competent
and dedicated educators, and appreciate student needs and aspirations. They are
dynamic and active to keep up with changes in the market place and provide
their students with state of the art knowledge. The courses and the topics
within the courses are carefully selected to provide students with background
and management skills necessary to prepare competent financial managers.
Students enter the program with high expectations and they get more than what
they expect. They graduate well trained and ready to compete and succeed in the
market place.
Likely
Career Path of Students
The
typical finance graduate will secure a related job within one year after
graduation. Students who have prior experience, part or full time and not
necessarily related to the financial industry, will normally get a job soon
after graduation. After two to four years in the first job, our graduates
always managed to move upward quickly toward their goals. Feedback from our
students is encouraging.
There are many careers
in the financial industry. The attached table provides an extensive list of
potential jobs. Some of them are entry level while some others will require
extensive industry experience. The table divides these jobs between different
areas. Yet, the recent changes in the industry are making the divisions highly
irrelevant. Financial institutions are demanding from their employees more
specialization as well as broader knowledge.
Financial services
provide excellent opportunities for entrepreneurs and self motivated
individuals. The table points out several of these opportunities.
Programs of
Study
The
department offers advanced courses, which gives students a wide spectrum of
specialization choices within the finance area. These include corporate
finance, financial institutions and services, investments, insurance, financial
planning, and financial risk management. In addition, the Edwards School of
Business has a number of options available to students in which they can
prepare themselves for careers outside the focussed disciplinary areas. The
department provides students with the flexibility to engineer their own
programs to match their perceived career plans.
Depending
on a student's expected career, the courses can be selected to give the student
the desired knowledge. For example, it is essential for a student who is
planning to work in the banking service area to take Intermediate Corporate
Finance (COMM 363), Security Analysis and Evaluation (Comm 367), and Management
of Finance Institutions (COMM 469), and Derivative Securities (COMM 419).
The
first familiarizes the student with analytical techniques and theory of
corporate finance. Professionals such as loan officers, credit managers, and
investment bankers would need these skills. Also, employment in the banking
industry will require knowledge of the principles and techniques of investing
in securities.
Bankers
must be familiar with the sources of investment information and with the
techniques of evaluating the information. They must appreciate the risks and
returns associated with various investment instruments. COMM 367 is
specifically designed to satisfy this need. Finally, in COMM 469 students learn
and acquire the skills to be successful bank managers. This course exposes them
to the problems of some important financial institutions such as chartered
banks, insurance, trust and investment companies. Students learn the techniques
of managing the assets and liabilities of these institutions.
Conclusions :
Growth in financial
services employment increasing complexity and sophistication of the industry.
Because the number of individuals who will retire per year over the next ten
years to increase, demand for financial services is likely to increase.
Tidak ada komentar:
Posting Komentar