Financial Careers: Most Popular Articles
These articles are the most popular over the last month.
Financial Advisor
Essential facts about careers as a financial advisor or financial consultant, the contemporary titles for what commonly used to be called stockbroker, broker, account executive or registered representative. Includes info about educational requirements, certifications, duties, responsibilities and pay.
Essential facts about careers as a financial advisor or financial consultant, the contemporary titles for what commonly used to be called stockbroker, broker, account executive or registered representative. Includes info about educational requirements, certifications, duties, responsibilities and pay.
Sales Assistant
Essential information about entering a career as a sales assistant to a financial advisor.
Essential information about entering a career as a sales assistant to a financial advisor.
Big Four
The Big Four public accounting firms dominate the sector in terms of both size and prestige. These are the accounting firms that are used by the largest corporations and nonprofits. The Big Four also are leading players in the consulting field, especially in the realms of systems and operations.
The Big Four public accounting firms dominate the sector in terms of both size and prestige. These are the accounting firms that are used by the largest corporations and nonprofits. The Big Four also are leading players in the consulting field, especially in the realms of systems and operations.
Risk Management
Risk management involves assessing and quantifying business risks, then taking measures to control or reduce them. The risk management function is especially vital in periods of market instability and economic uncertainty.
Risk management involves assessing and quantifying business risks, then taking measures to control or reduce them. The risk management function is especially vital in periods of market instability and economic uncertainty.
Information Technology
Careers in information technology within financial services.
Careers in information technology within financial services.
Networking
Networking is important to career development, opening up opportunities for advancement and for finding new openings in the face of mergers and force reductions. Additionally, adept networking is a time-honored way to increase your knowledge and to get assistance when faced with job-related questions or problems that are beyond your expertise.
Networking is important to career development, opening up opportunities for advancement and for finding new openings in the face of mergers and force reductions. Additionally, adept networking is a time-honored way to increase your knowledge and to get assistance when faced with job-related questions or problems that are beyond your expertise.
Job Titles
Important facts about job titles in financial services.
Important facts about job titles in financial services.
Public Accounting Firms
Public accounting firms are vital cogs in the financial system and highly-regarded training grounds for professionals throughout the financial services industry, as well as in other industries.
Public accounting firms are vital cogs in the financial system and highly-regarded training grounds for professionals throughout the financial services industry, as well as in other industries.
Jon Corzine
Jon Corzine made a fortune as a trader and executive at Goldman Sachs, and rose to CEO. When he was forced out of this position, he turned to politics, self-financing extremely expensive but successful campaigns for the U.S. Senate and the governorship of New Jersey.
Jon Corzine made a fortune as a trader and executive at Goldman Sachs, and rose to CEO. When he was forced out of this position, he turned to politics, self-financing extremely expensive but successful campaigns for the U.S. Senate and the governorship of New Jersey.
Financial Advisor Pay
Financial advisor pay has evolved in recent years. Traditionally based on commissions, which provided an incentive to maximize clients' transactions (and conflicts of interest), today asset-based fees are increasingly common. Financial advisors who act more as passive order-takers (as in discount brokerage firms) tend to be paid straight salary plus bonus like other employees.
Financial advisor pay has evolved in recent years. Traditionally based on commissions, which provided an incentive to maximize clients' transactions (and conflicts of interest), today asset-based fees are increasingly common. Financial advisors who act more as passive order-takers (as in discount brokerage firms) tend to be paid straight salary plus bonus like other employees.
Producer
Definition of Producer.
Definition of Producer.
Coporate Treasury
Corporate treasury manages a company’s cash flows in the most efficient and profitable fashion possible. It also involves forecasting future needs for funding and seeking the best alternatives for obtaining it. It's a fast-paced, high-paying field with aspects of money management and investment banking.
Corporate treasury manages a company’s cash flows in the most efficient and profitable fashion possible. It also involves forecasting future needs for funding and seeking the best alternatives for obtaining it. It's a fast-paced, high-paying field with aspects of money management and investment banking.
Why Financial Services?
Leading reasons why financial services careers are an attractive option for ambitious people.
Leading reasons why financial services careers are an attractive option for ambitious people.
Goldman Sachs
Goldman Sachs is perhaps the most renowned firm on Wall Street. A powerhouse in investment banking, it also is a major player in asset management and in wealth management, or financial services for ultra-wealthy individuals. A spot in its internship program is a prized catch.
Goldman Sachs is perhaps the most renowned firm on Wall Street. A powerhouse in investment banking, it also is a major player in asset management and in wealth management, or financial services for ultra-wealthy individuals. A spot in its internship program is a prized catch.
FINRA
Exams and certifications administered by FINRA, the successor organization to the NASD.
Exams and certifications administered by FINRA, the successor organization to the NASD.
CPA
While a CPA (Certified Public Accountant) license is not required for the vast majority of career paths within financial services, holding one can open doors within the industry. The CPA designation will enhance your credibility as someone who has quantitative skills and a professional attitude.
While a CPA (Certified Public Accountant) license is not required for the vast majority of career paths within financial services, holding one can open doors within the industry. The CPA designation will enhance your credibility as someone who has quantitative skills and a professional attitude.
Book of Business
Definition of a book of business.
Definition of a book of business.
Financial Planner
Vital information about pursuing a career as a financial planner, assisting clients with budgeting, saving and other aspects of financial goal setting.
Vital information about pursuing a career as a financial planner, assisting clients with budgeting, saving and other aspects of financial goal setting.
Financial Services Overview
Overview of financial careers and the financial services industry.
Overview of financial careers and the financial services industry.
CFA
The Chartered Financial Analyst (CFA) certification.
The Chartered Financial Analyst (CFA) certification.
Best Places for FAs
The annual Financial Advisor Satisfaction Survey from J.D. Power and Associates offers useful insights into how financial advisors view their firms and where they prefer to work.
The annual Financial Advisor Satisfaction Survey from J.D. Power and Associates offers useful insights into how financial advisors view their firms and where they prefer to work.
Job Descriptions
Within the financial services industry, especially in administrative and support positions, employees are expected to be highly productive multitaskers, often performing duties far beyond those in their formal job descriptions.
Within the financial services industry, especially in administrative and support positions, employees are expected to be highly productive multitaskers, often performing duties far beyond those in their formal job descriptions.
Insurance Claims Adjusters
Insurance claims adjusters play the vital role of studying requests for payouts under insurance policies, then determining whether they should be honored or denied.
Insurance claims adjusters play the vital role of studying requests for payouts under insurance policies, then determining whether they should be honored or denied.
Institutional Client
Definition of institutional business and institutional clients, in the context of financial services.
Definition of institutional business and institutional clients, in the context of financial services.
Securities Trader
Careers in Securities Trading.
Careers in Securities Trading.
Financial Assets
The definition of financial assets, also known as investable assets.
The definition of financial assets, also known as investable assets.
The SEC
The Securities and Exchange Commission (the SEC), a department of the federal government, is the principal regulatory body for the securities markets in the U.S.
The Securities and Exchange Commission (the SEC), a department of the federal government, is the principal regulatory body for the securities markets in the U.S.
Loan Officer
Loan officers work for banks, credit unions and other financial institutions, assisting prospective borrowers in applying for loans and assessing their creditworthiness.
Loan officers work for banks, credit unions and other financial institutions, assisting prospective borrowers in applying for loans and assessing their creditworthiness.
Controller
Careers in the Controller function.
Careers in the Controller function.
Deloitte
Deloitte (full name Deloitte Touche Tohmatsu) is one of the Big 4 international public accounting and consulting firms.
Deloitte (full name Deloitte Touche Tohmatsu) is one of the Big 4 international public accounting and consulting firms.
KPMG
KPMG is one of the Big 4 international public accounting and consulting firms.
KPMG is one of the Big 4 international public accounting and consulting firms.
Legacy Systems
Legacy systems represent obsolete information technology. Nonetheless, many leading financial services firms still rely upon them for critical functions. IT professionals with outdated skills are, ironically, vital to their maintenance, but underappreciated.
Legacy systems represent obsolete information technology. Nonetheless, many leading financial services firms still rely upon them for critical functions. IT professionals with outdated skills are, ironically, vital to their maintenance, but underappreciated.
Branch Manager
A branch manager is in charge of a sales office affiliated with a securities firm, supervising financial advisors and other personnel. Branch managers typically are drawn from the ranks of financial advisors themselves.
A branch manager is in charge of a sales office affiliated with a securities firm, supervising financial advisors and other personnel. Branch managers typically are drawn from the ranks of financial advisors themselves.
Financial Internships
Financial internships are highly prized educational experiences and resume-enhancers. They also open doors to the best full-time entry-level positions in the industry.
Financial internships are highly prized educational experiences and resume-enhancers. They also open doors to the best full-time entry-level positions in the industry.
Ernst & Young
Ernst & Young is one of the Big 4 international public accounting and consulting firms.
Ernst & Young is one of the Big 4 international public accounting and consulting firms.
Loan Modification Companies
Loan modification companies mediate between borrowers and lenders, especially regarding mortgage loans, in cases where the borrower is unable to repay the loan on the prescribed timetable.
Loan modification companies mediate between borrowers and lenders, especially regarding mortgage loans, in cases where the borrower is unable to repay the loan on the prescribed timetable.
JPMorgan Chase
JPMorgan Chase is a major integrated financial services firm, a leader in both the banking and securities sectors. With the acquisition of assets from failed Washington Mutual (WaMu), JPMorgan Chase now rivals Bank of America for the title of largest bank in the U.S.
JPMorgan Chase is a major integrated financial services firm, a leader in both the banking and securities sectors. With the acquisition of assets from failed Washington Mutual (WaMu), JPMorgan Chase now rivals Bank of America for the title of largest bank in the U.S.
Retail Client
The definition of retail business and retail clients, in the context of financial services.
The definition of retail business and retail clients, in the context of financial services.
Private Equity Funds
Private equity is high risk, high reward category of investing that does not involve the public securities markets. Instead, private equity firms make capital available to private companies, and engineer special private placements of securities from public companies.
Private equity is high risk, high reward category of investing that does not involve the public securities markets. Instead, private equity firms make capital available to private companies, and engineer special private placements of securities from public companies.
Wayne Rogers
Wayne Rogers made the transition from actor to even more successful investor and investment manager.
Wayne Rogers made the transition from actor to even more successful investor and investment manager.
Insurance Claims Examiners
Insurance claims examiners perform a role similar to insurance claims adjusters, scrutinizing claims for insurance payouts and assessing what, if anything, the client should receive.
Insurance claims examiners perform a role similar to insurance claims adjusters, scrutinizing claims for insurance payouts and assessing what, if anything, the client should receive.
Insurance Underwriters
Insurance underwriters perform the essential analytic work of evaluating applications for insurance, determining whether policies should be issued (written) and setting premiums and other terms.
Insurance underwriters perform the essential analytic work of evaluating applications for insurance, determining whether policies should be issued (written) and setting premiums and other terms.
Payout Grid
Financial advisor pay can be a very complex calculation, with a variety of factors contributing to the final amount. Read here for a basic primer on the factors that drive financial advisor pay.
Financial advisor pay can be a very complex calculation, with a variety of factors contributing to the final amount. Read here for a basic primer on the factors that drive financial advisor pay.
CFA Review Courses
Obtaining a CFA designation includes passing a lengthy exam. While the CFA Institute believes that its self-study materials are adequate preparation, many candidates prefer to have supplemental classroom instruction and/or study guides. Here is a survey of the options.
Obtaining a CFA designation includes passing a lengthy exam. While the CFA Institute believes that its self-study materials are adequate preparation, many candidates prefer to have supplemental classroom instruction and/or study guides. Here is a survey of the options.
Investment Banker
Careers in Investment Banking.
Careers in Investment Banking.
Merrill Lynch
Overview of opportunities at Merrill Lynch, a leading integrated financial services now owned by Bank of America.
Overview of opportunities at Merrill Lynch, a leading integrated financial services now owned by Bank of America.
Production Credits
Definition of Production Credits, a metric for Financial Advisor compensation.
Definition of Production Credits, a metric for Financial Advisor compensation.
CFP
The Certified Financial Planner (CFP) certification.
The Certified Financial Planner (CFP) certification.
Wells Fargo
Wells Fargo is based in California and a market leader in many western states, including Texas. The acquisition of Wachovia makes Wells Fargo a major national banking presence, and gives it one of the leading national securities firms. Wells Fargo has remained strongly profitable through the credit crisis of 2007-08.
Wells Fargo is based in California and a market leader in many western states, including Texas. The acquisition of Wachovia makes Wells Fargo a major national banking presence, and gives it one of the leading national securities firms. Wells Fargo has remained strongly profitable through the credit crisis of 2007-08.
Regulation
Regulation of the financial services industry is highly complicated, involving a variety of federal and state agencies. In many cases, a particular financial services firm may be responsible to several of these agencies, which have independent agendas. Here is a summary of financial regulation.
Regulation of the financial services industry is highly complicated, involving a variety of federal and state agencies. In many cases, a particular financial services firm may be responsible to several of these agencies, which have independent agendas. Here is a summary of financial regulation.
Private Banking
A definition of private banking, also sometimes called high net worth banking. Also describes the role of a private banker.
A definition of private banking, also sometimes called high net worth banking. Also describes the role of a private banker.
Training for Financial Careers
Here is a handy summary and overview of the most important training needed for financial careers, including degrees, certifications and categories of experience.
Here is a handy summary and overview of the most important training needed for financial careers, including degrees, certifications and categories of experience.
Best Financial Companies
Here is a short list of financial services firms that get frequent mention in surveys of the best places to work.
Here is a short list of financial services firms that get frequent mention in surveys of the best places to work.
Bank of America
Overview of career opportunities at Bank of America, now also the parent company of Merrill Lynch.
Overview of career opportunities at Bank of America, now also the parent company of Merrill Lynch.
Live to Work
If you live to work, your job or career is a major focus of your life, and achievement therein is a principal source of satisfaction in life. By contrast, if you work to live, your job or career is pursued mainly as a means to acquire money, and your real interests lie elsewhere. Which type of person you are has huge implications for your career success in finance.
If you live to work, your job or career is a major focus of your life, and achievement therein is a principal source of satisfaction in life. By contrast, if you work to live, your job or career is pursued mainly as a means to acquire money, and your real interests lie elsewhere. Which type of person you are has huge implications for your career success in finance.
Insurance Agents
Insurance sales agents (insurance agents) sell one or more lines of insurance products, and may also engage in general financial planning or the sales of various investment products, similar to a financial advisor.
Insurance sales agents (insurance agents) sell one or more lines of insurance products, and may also engage in general financial planning or the sales of various investment products, similar to a financial advisor.
Public Relations
Public relations is a vital function, involved with getting the company's message out to the media, investors, clients and the general public. It is a fast-paced career, with high visibility and access to senior executives. It requires top-notch communications skills, interpersonal skills and powers of persuasion.
Public relations is a vital function, involved with getting the company's message out to the media, investors, clients and the general public. It is a fast-paced career, with high visibility and access to senior executives. It requires top-notch communications skills, interpersonal skills and powers of persuasion.
CFP Review Courses
The requirements for becoming a CFP (Certified Financial Planner) include passing a lengthy exam. While some applicants choose to prepare through self-study, others prefer entering review courses in classroom settings.
The requirements for becoming a CFP (Certified Financial Planner) include passing a lengthy exam. While some applicants choose to prepare through self-study, others prefer entering review courses in classroom settings.
Securities Underwriting
Securities underwriting is one of the primary functions and principal career paths within investment banking. If you are considering a career as an investment banker, here is some important background information on this special field.
Securities underwriting is one of the primary functions and principal career paths within investment banking. If you are considering a career as an investment banker, here is some important background information on this special field.
Hudson City Savings Bank
Hudson City Savings Bank is the largest thrift in the U.S. by market capitalization and among the top 50 banks by assets. Conservative lending policies have allowed it to ride out the 2007-08 credit crisis while posting record profits.
Hudson City Savings Bank is the largest thrift in the U.S. by market capitalization and among the top 50 banks by assets. Conservative lending policies have allowed it to ride out the 2007-08 credit crisis while posting record profits.
Insurance
Here's an overview of career opportunities in insurance.
Here's an overview of career opportunities in insurance.
Venture Capital Funds
Venture capital is a particularly exciting and glamorous sector of the financial services industry. It involves seeking out and funding innovative startup companies with the promise to become highly profitable in the future.
Venture capital is a particularly exciting and glamorous sector of the financial services industry. It involves seeking out and funding innovative startup companies with the promise to become highly profitable in the future.
Martha Stewart
While Martha Stewart is best known as an arbiter of taste in the domestic arts, as a self-made media mogul, and as someone who fell afoul of the law, she had an early career in financial services that helped set the stage for her later ventures.
While Martha Stewart is best known as an arbiter of taste in the domestic arts, as a self-made media mogul, and as someone who fell afoul of the law, she had an early career in financial services that helped set the stage for her later ventures.
Compensation
Compensation in financial services tends to follow different norms than elsewhere in the economy. Here are some key facts to know.
Compensation in financial services tends to follow different norms than elsewhere in the economy. Here are some key facts to know.
Financial Advisor Credentials
In addition to the minimum certifications required by regulations, financial advisors can find it advantageous to hold other credentials. Some of these are required by certain employers, either for all their financial advisors or for those who deal with certain types of clients.
In addition to the minimum certifications required by regulations, financial advisors can find it advantageous to hold other credentials. Some of these are required by certain employers, either for all their financial advisors or for those who deal with certain types of clients.
PricewaterhouseCoopers
PricewaterhouseCoopers is one of the Big 4 international public accounting and consulting firms.
PricewaterhouseCoopers is one of the Big 4 international public accounting and consulting firms.
NASDAQ
NASDAQ and the New York Stock Exchange are the two principal trading venues for equity securities (stocks) in the U.S.
NASDAQ and the New York Stock Exchange are the two principal trading venues for equity securities (stocks) in the U.S.
Banking
Overview of careers in retail and commercial banking.
Overview of careers in retail and commercial banking.
Brokerage Operations
Brokerage operations involves the tasks that ensure the proper movement of cash and securities positions pursuant to trades, plus the associated record keeping for clients' accounts, and for the accounts of the financial services firms themselves.
Brokerage operations involves the tasks that ensure the proper movement of cash and securities positions pursuant to trades, plus the associated record keeping for clients' accounts, and for the accounts of the financial services firms themselves.
Actuary
An actuary is a highly trained statistician with expertise in evaluating risks. A majority of actuaries are employed by the insurance industry.
An actuary is a highly trained statistician with expertise in evaluating risks. A majority of actuaries are employed by the insurance industry.
Job Titles Matter
Job titles are badges of authority. Not getting the title appropriate to the position can undermine your standing both inside your company and with outsiders such as clients
Job titles are badges of authority. Not getting the title appropriate to the position can undermine your standing both inside your company and with outsiders such as clients
Northwestern Mutual
Northwest Mutual is a leading life insurance company headquartered in Milwaukee. It is renowned for high satisfaction among clients and salespeople alike, including a highly-regarded sales internship program.
Northwest Mutual is a leading life insurance company headquartered in Milwaukee. It is renowned for high satisfaction among clients and salespeople alike, including a highly-regarded sales internship program.
Insurance Appraisers
Insurance appraisers are experts in the valuation of property, such as automobiles, and give key expert input in the settling of insurance claims.
Insurance appraisers are experts in the valuation of property, such as automobiles, and give key expert input in the settling of insurance claims.
Restructuring Firms
Restructuring firms specialize in taking charge of severely troubled or bankrupt companies. Depending on the situation, their task may range from reorganization to liquidation. Some restructuring firms focus on the financial services industry, while others have more boradly-based practices.
Restructuring firms specialize in taking charge of severely troubled or bankrupt companies. Depending on the situation, their task may range from reorganization to liquidation. Some restructuring firms focus on the financial services industry, while others have more boradly-based practices.
Take Advantage of Layoffs
Surprisingly, periods of layoffs can offer great opportunities. Read here about how to take advantage of layoffs in your career management strategy.
Surprisingly, periods of layoffs can offer great opportunities. Read here about how to take advantage of layoffs in your career management strategy.
Morgan Stanley
Morgan Stanley is a major integrated financial services firm, including financial advisory services, asset management, investment banking and securities trading. It is the result of a 1997 merger between investment bankers Morgan Stanley and retail brokers Dean Witter.
Morgan Stanley is a major integrated financial services firm, including financial advisory services, asset management, investment banking and securities trading. It is the result of a 1997 merger between investment bankers Morgan Stanley and retail brokers Dean Witter.
Compliance
Careers in the Compliance function.
Careers in the Compliance function.
Edward Jones
An overview of career opportunities at Edward Jones. Though not a full service firm itself, Edward Jones has a large number of financial advisors that place it among the industry leaders along this dimension.
An overview of career opportunities at Edward Jones. Though not a full service firm itself, Edward Jones has a large number of financial advisors that place it among the industry leaders along this dimension.
Credit Unions
Credit unions are non-profit cooperative financial institutions owned by and operated for the sole benefit of their members. Credit unions fill a role similar to that of banks, taking in deposits and making loans.
Credit unions are non-profit cooperative financial institutions owned by and operated for the sole benefit of their members. Credit unions fill a role similar to that of banks, taking in deposits and making loans.
Wachovia
Overview of career opportunities at Wachovia. Includes Wachovia Securities, a joint venture of Wachovia (62% owner) and Prudential Financial (38% owner) and augmented in 2008 with the acquisition of A.G. Edwards. Also includes Evergreen Investments, a leading investment management firm. On October 3, 2008 Wells Fargo acquired Wachovia in its entirety.
Overview of career opportunities at Wachovia. Includes Wachovia Securities, a joint venture of Wachovia (62% owner) and Prudential Financial (38% owner) and augmented in 2008 with the acquisition of A.G. Edwards. Also includes Evergreen Investments, a leading investment management firm. On October 3, 2008 Wells Fargo acquired Wachovia in its entirety.
Lawyers
The financial services industry, as a highly regulated sector of the economy, has a great need for legal expertise. Lawyers have a ticket to advancement, even in job categories that do not specifically require law degrees.
The financial services industry, as a highly regulated sector of the economy, has a great need for legal expertise. Lawyers have a ticket to advancement, even in job categories that do not specifically require law degrees.
FTSE
The FTSE indexes track the price movements of the largest companies (by market value) on the London Stock Exchange.
The FTSE indexes track the price movements of the largest companies (by market value) on the London Stock Exchange.
Money Manager
Money managers, or investment managers, are highly-compensated financial professionals, with a fast-paced and stimulating work environment.
Money managers, or investment managers, are highly-compensated financial professionals, with a fast-paced and stimulating work environment.
Insurance Investigators
Insurance investigators are in-house private detectives whose special skills are utilized in processing claims where fraud or criminal conduct is suspected.
Insurance investigators are in-house private detectives whose special skills are utilized in processing claims where fraud or criminal conduct is suspected.
Stock Research
Stock research and securities analysis involves the study of companies and their securities, producing recommendations on the desirability of investing in them.
Stock research and securities analysis involves the study of companies and their securities, producing recommendations on the desirability of investing in them.
GMAC
GMAC is a major lending institution that has expanded beyond its original market in automotive finance to include also real estate financing, insurance, commercial financing and online banking.
GMAC is a major lending institution that has expanded beyond its original market in automotive finance to include also real estate financing, insurance, commercial financing and online banking.
New York Stock Exchange
The New York Stock Exchange (NYSE) is the oldest and most prestigious securities market in the U.S., traditionally the trading venue of choice for the largest U.S. corporations, as well as for growing numbers of leading foreign companies.
The New York Stock Exchange (NYSE) is the oldest and most prestigious securities market in the U.S., traditionally the trading venue of choice for the largest U.S. corporations, as well as for growing numbers of leading foreign companies.
Rating Agencies
Credit rating agencies are key players in the financial markets, assessing the ability of corporate and governmental borrowers to incur and service debt, and the interest rate cost that they face. They are major employers and trainers of people in the field of securities research and securities analysis.
Credit rating agencies are key players in the financial markets, assessing the ability of corporate and governmental borrowers to incur and service debt, and the interest rate cost that they face. They are major employers and trainers of people in the field of securities research and securities analysis.
Branch Operations Manager
Branch operations managers are responsible for all the behind-the-scenes work that keeps a brokerage office running, such as building maintenance, communications and technology.
Branch operations managers are responsible for all the behind-the-scenes work that keeps a brokerage office running, such as building maintenance, communications and technology.
Jobs With Flexible Hours
Finding a job with flexible hours, limited hours and/or telecommuting options is an important consideration for increasing numbers of people. The reasons can be many: childcare, eldercare, personal health reasons, personal lifestyle preferences, and length of commute. There are increasing opportunities in financial services for such flexibility.
Finding a job with flexible hours, limited hours and/or telecommuting options is an important consideration for increasing numbers of people. The reasons can be many: childcare, eldercare, personal health reasons, personal lifestyle preferences, and length of commute. There are increasing opportunities in financial services for such flexibility.
AIESEC
AIESEC is an international student organization best known for its work abroad program.
AIESEC is an international student organization best known for its work abroad program.
Credit Suisse
Credit Suisse is a major international banking firm headquartered in Zurich, Switzerland and founded in 1856. Its major lines of business in the U.S. include private banking, asset management and investment banking. Much of its investment banking operations are the legacy of a business combination with First Boston.
Credit Suisse is a major international banking firm headquartered in Zurich, Switzerland and founded in 1856. Its major lines of business in the U.S. include private banking, asset management and investment banking. Much of its investment banking operations are the legacy of a business combination with First Boston.
Branch Sales Manager
Branch sales managers are typically drawn from the ranks of financial advisors and are responsible for guiding an office towards targets set for revenues, clients, assets and other metrics.
Branch sales managers are typically drawn from the ranks of financial advisors and are responsible for guiding an office towards targets set for revenues, clients, assets and other metrics.
MBA
Importance of the MBA degree in Financial Services careers.
Importance of the MBA degree in Financial Services careers.
Jim Cramer
Jim Cramer is a high profile financial commentator, the host of "Mad Money" on CNBC. Starting as a journalist, he briefly tried the law, then Wall Street. Soon he was back into media, in a big way.
Jim Cramer is a high profile financial commentator, the host of "Mad Money" on CNBC. Starting as a journalist, he briefly tried the law, then Wall Street. Soon he was back into media, in a big way.
Margin Loans
The definition of margin loans.
The definition of margin loans.
D&B
D&B, or Dun & Bradstreet, is a leading vendor of business and financial information, and is heavily relied upon by companies in all industries. Hoover's is among the trademarked information services owned by D&B.
D&B, or Dun & Bradstreet, is a leading vendor of business and financial information, and is heavily relied upon by companies in all industries. Hoover's is among the trademarked information services owned by D&B.
Fidelity
Fidelity Investments is a giant of the mutual fund and discount brokerage fields. Many financial services professionals elsewhere in the industry began their careers at Fidelity.
Fidelity Investments is a giant of the mutual fund and discount brokerage fields. Many financial services professionals elsewhere in the industry began their careers at Fidelity.
Choosing Employers
Key considerations in choosing employers.
Key considerations in choosing employers.
Bloomberg
Bloomberg L.P. is a leading financial data and news services company founded by Michael Bloomberg, later mayor of New York City, in 1981. In addition to market news and analysis delivered through proprietary terminals, Bloomberg has branched out into radio, TV and publishing.
Bloomberg L.P. is a leading financial data and news services company founded by Michael Bloomberg, later mayor of New York City, in 1981. In addition to market news and analysis delivered through proprietary terminals, Bloomberg has branched out into radio, TV and publishing.
Management Science
Careers in Management Science.
Careers in Management Science.
Fair Isaac
Fair Isaac is a leader in credit scoring and risk management analytics, developer of the proprietary FICO scores that are a financial services industry standard. Its clients include leading financial institutions and retailers worldwide.
Fair Isaac is a leader in credit scoring and risk management analytics, developer of the proprietary FICO scores that are a financial services industry standard. Its clients include leading financial institutions and retailers worldwide.
Mark McCormack
Mark McCormack (1930-2003) was the first truly modern sports agent. Mark McCormack founded International Management Group (IMG) to manage commercial endorsements for golf great Arnold Palmer, and set the pattern whereby top athletes would earn considerably more from endorsements than from salaries or prize money. McCormack also expanded into financial services, and beat a Wall Street giant at its own game.
Mark McCormack (1930-2003) was the first truly modern sports agent. Mark McCormack founded International Management Group (IMG) to manage commercial endorsements for golf great Arnold Palmer, and set the pattern whereby top athletes would earn considerably more from endorsements than from salaries or prize money. McCormack also expanded into financial services, and beat a Wall Street giant at its own game.
American Express
American Express is a leading credit card and travel services company. Decades of aggressive advertising have made it one of the leading international brand names across all industries. American Express also regularly appears on surveys of the best companies to work for.
American Express is a leading credit card and travel services company. Decades of aggressive advertising have made it one of the leading international brand names across all industries. American Express also regularly appears on surveys of the best companies to work for.
Random Walk
A book review of A Random Walk Down Wall Street by Burton G. Malkiel.
A book review of A Random Walk Down Wall Street by Burton G. Malkiel.
Raymond James
Raymond James is a full-service brokerage firm notable for a highly flexible approach to hiring financial advisors, ranging from traditional employee to independent contractor relationships.
Raymond James is a full-service brokerage firm notable for a highly flexible approach to hiring financial advisors, ranging from traditional employee to independent contractor relationships.
HSBC
HSBC (formerly the Hong Kong and Shanghai Banking Corporation) is a leading international banking and securities firm, with one of the most recognized brand names in banking around the world.
HSBC (formerly the Hong Kong and Shanghai Banking Corporation) is a leading international banking and securities firm, with one of the most recognized brand names in banking around the world.
Best Firms for Working Moms
Our Guide to Working Moms has compiled a list of the best companies for working moms, according to a survey released in Septmeber 2009. Many of them are in the financial services industry.
Our Guide to Working Moms has compiled a list of the best companies for working moms, according to a survey released in Septmeber 2009. Many of them are in the financial services industry.
Financial Industry Mergers
The financial industry mergers have created greater consolidation and concentration, both within specific lines of business and across them. The creation and expansion of one-stop-shopping financial supermarkets is a trend that has yet to run its course.
The financial industry mergers have created greater consolidation and concentration, both within specific lines of business and across them. The creation and expansion of one-stop-shopping financial supermarkets is a trend that has yet to run its course.
RBC Wealth Management
RBC Wealth Management is a full-service securities firm headquartered in Minneapolis that is among the largest in the U.S. A fully-owned subsidiary of Royal Bank of Canada (RBC), RBC Wealth Management formerly was known as RBC Dain Rauscher.
RBC Wealth Management is a full-service securities firm headquartered in Minneapolis that is among the largest in the U.S. A fully-owned subsidiary of Royal Bank of Canada (RBC), RBC Wealth Management formerly was known as RBC Dain Rauscher.
HighTower Advisors
HighTower Advisors is a new financial services firm targeting high net worth clients. Launched on December 10, 2008, HighTower is recruiting experienced financial advisors who would like to run their own firms, but who would prefer to have their infrastructure and support needs handled by a central organization.
HighTower Advisors is a new financial services firm targeting high net worth clients. Launched on December 10, 2008, HighTower is recruiting experienced financial advisors who would like to run their own firms, but who would prefer to have their infrastructure and support needs handled by a central organization.
Liberty Tax
Liberty Tax is a leading national tax preparation firm, offering its services exclusively through franchised offices.
Liberty Tax is a leading national tax preparation firm, offering its services exclusively through franchised offices.
Ginnie Mae
Ginnie Mae is a corporation wholly owned by the federal government. Its role is to insure timely payment of principal and interest on federally insured or guaranteed mortgages that have been bundled into mortgage backed securities by approved financial firms.
Ginnie Mae is a corporation wholly owned by the federal government. Its role is to insure timely payment of principal and interest on federally insured or guaranteed mortgages that have been bundled into mortgage backed securities by approved financial firms.
The 80-20 Rule
The 80-20 rule is a much-used maxim in business and finance. It is a popularization of the law of diminishing returns in economics. That is, as you put increasing effort, resources or inputs into a given task or production process, you usually receive proportionately less output or returns. Applying the 80-20 to personal time management is a key to working efficiently and to personal advancement.
The 80-20 rule is a much-used maxim in business and finance. It is a popularization of the law of diminishing returns in economics. That is, as you put increasing effort, resources or inputs into a given task or production process, you usually receive proportionately less output or returns. Applying the 80-20 to personal time management is a key to working efficiently and to personal advancement.
Mike Bloomberg
Mike Bloomberg is a case study in using a successful career in financial services as a springboard to high achievement in other fields. After losing his job at Salomon Brothers, he formed his own firm, Bloomberg LP, that became an information services and news media giant, making him a multi-billionaire in the process. This allowed him to turn to politics, becoming a successful mayor of New York.
Mike Bloomberg is a case study in using a successful career in financial services as a springboard to high achievement in other fields. After losing his job at Salomon Brothers, he formed his own firm, Bloomberg LP, that became an information services and news media giant, making him a multi-billionaire in the process. This allowed him to turn to politics, becoming a successful mayor of New York.
Changing Jobs
Important advice about advancing your career through changing jobs.
Important advice about advancing your career through changing jobs.
Are Top Employees Assets?
How firms treat their staff, particularly their best performers, in difficult times tells a lot about the value that they place upon them. Are top employees treated as important assets to be retained in anticipation of the next business upturn? Or, are they liabilities to be cut as a short-term cost-reduction measure? The answer also will indicate whether the firm is managed with a focus on long-term strategy or on short-term tactics.
How firms treat their staff, particularly their best performers, in difficult times tells a lot about the value that they place upon them. Are top employees treated as important assets to be retained in anticipation of the next business upturn? Or, are they liabilities to be cut as a short-term cost-reduction measure? The answer also will indicate whether the firm is managed with a focus on long-term strategy or on short-term tactics.
Telecommuting
As telecommuting becomes a more important option within the general economy, its significance is bound to grow in the financial services industry. Because of the growing costs of traditional commuting in both time and money, more employees are seeking to telecommute.
As telecommuting becomes a more important option within the general economy, its significance is bound to grow in the financial services industry. Because of the growing costs of traditional commuting in both time and money, more employees are seeking to telecommute.
Sell Side Analyst
Definition of sell side analyst, a position within the field of securities research.
Definition of sell side analyst, a position within the field of securities research.
Debt Collection Agencies
Debt collection agencies are hired by banks and other lending institutions to recoup payments on loans that have gone in arrears. They also are hired by various other providers of expensive goods and services (notably hospitals) to collect on large bills that have gone unpaid. Debt collection tends to be a counter-cyclical business that thrives in recessionary times when the number of debtors in arrears on their payment surges.
Debt collection agencies are hired by banks and other lending institutions to recoup payments on loans that have gone in arrears. They also are hired by various other providers of expensive goods and services (notably hospitals) to collect on large bills that have gone unpaid. Debt collection tends to be a counter-cyclical business that thrives in recessionary times when the number of debtors in arrears on their payment surges.
Jackson Hewitt
Jackson Hewitt is the second-largest tax preparation firm in the U.S., based on the number of returns prepared. Jackson Hewitt operates mainly through franchised locations.
Jackson Hewitt is the second-largest tax preparation firm in the U.S., based on the number of returns prepared. Jackson Hewitt operates mainly through franchised locations.
Vanguard
Vanguard is one of the leading mutual fund companies. Vanguard also offers discount brokerage services.
Vanguard is one of the leading mutual fund companies. Vanguard also offers discount brokerage services.
Standard & Poor's
Standard & Poor's (also Standard and Poor's, or simply S&P) is the leading international ratings agency, covering both debt and equities issues. It is a major training ground for professionals in securities research.
Standard & Poor's (also Standard and Poor's, or simply S&P) is the leading international ratings agency, covering both debt and equities issues. It is a major training ground for professionals in securities research.
Private Client
What constitutes a Private Client.
What constitutes a Private Client.
OneWire.com
OneWire.com is a new job placement website specializing in finance. It claims to take a different approach than most of its more established competitors, and to be of more value to typical job seekers and hiring firms alike. This is an interview conducted with its chairman.
OneWire.com is a new job placement website specializing in finance. It claims to take a different approach than most of its more established competitors, and to be of more value to typical job seekers and hiring firms alike. This is an interview conducted with its chairman.
Producer and Support
Considerations in choosing between, and moving between, producer and support job categories.
Considerations in choosing between, and moving between, producer and support job categories.
H&R Block
H&R Block is the world's leading tax preparation company, located mainly in the U.S., but also in Canada, the U.K. and Australia. A significant number of H&R Block's U.S. offices are franchises.
H&R Block is the world's leading tax preparation company, located mainly in the U.S., but also in Canada, the U.K. and Australia. A significant number of H&R Block's U.S. offices are franchises.
Pseudo-Requirements
As a screening device, an increasing number of companies are listing excessive and unnecessary qualifications in job postings. Called pseudo-requirements, these are merely devices to reduce the pool of applicants. Savvy job hunters should not be deterred by them.
As a screening device, an increasing number of companies are listing excessive and unnecessary qualifications in job postings. Called pseudo-requirements, these are merely devices to reduce the pool of applicants. Savvy job hunters should not be deterred by them.
BB&T
BB&T, the Branch Banking and Trust Company, is a leading regional bank based in Winston-Salem, NC. Through an aggressive acquisition campaign launched in 1989, BB&T has grown from a small local institution to the 14th largest financial holding company in the U.S. (at one point it was 9th). BB&T has remained strongly profitable through the credit crisis of 2007-08.
BB&T, the Branch Banking and Trust Company, is a leading regional bank based in Winston-Salem, NC. Through an aggressive acquisition campaign launched in 1989, BB&T has grown from a small local institution to the 14th largest financial holding company in the U.S. (at one point it was 9th). BB&T has remained strongly profitable through the credit crisis of 2007-08.
GMAT and GRE
For admission to MBA programs, the GMAT (Graduate Management Admissions Test) is getting increasing competition from the GRE (Graduate Record Exam) as an application requirement.
For admission to MBA programs, the GMAT (Graduate Management Admissions Test) is getting increasing competition from the GRE (Graduate Record Exam) as an application requirement.
T. Rowe Price
T. Rowe Price is one of the leading mutual fund companies. It also offers discount brokerage services.
T. Rowe Price is one of the leading mutual fund companies. It also offers discount brokerage services.
Mastering Financial Jargon
Mastering financial jargon is an important way to make it immediately clear to other people in the field that you are an expert. This is especially critical when you need to make favorable impressions in a hurry. On the other hand, having just a superficial knowledge of what the terms mean, without a plain-English grasp of the underlying concepts can prove disastrous in the long term.
Mastering financial jargon is an important way to make it immediately clear to other people in the field that you are an expert. This is especially critical when you need to make favorable impressions in a hurry. On the other hand, having just a superficial knowledge of what the terms mean, without a plain-English grasp of the underlying concepts can prove disastrous in the long term.
Risk Aversion
Risk aversion is a manifestation of people's general preference for certainty over uncertainty, and for minimizing the magnitude of the worst possible outcomes to which they are exposed.
Risk aversion is a manifestation of people's general preference for certainty over uncertainty, and for minimizing the magnitude of the worst possible outcomes to which they are exposed.
Family Offices
Family offices are specialized financial services firms that cater to the needs of extremely wealthy clients.
Family offices are specialized financial services firms that cater to the needs of extremely wealthy clients.
Prudential
Prudential Financial is the parent company of Prudential Insurance, one of the leading life insurers well-known for its Rock of Gibraltar logo. It also is minority (38%) owner of Wachovia Securities, and it has a real estate brokerage division.
Prudential Financial is the parent company of Prudential Insurance, one of the leading life insurers well-known for its Rock of Gibraltar logo. It also is minority (38%) owner of Wachovia Securities, and it has a real estate brokerage division.
Survive Layoffs
Being prepared to survive layoffs, force reductions and restructurings is vital in the financial services industry, which has highly cyclical levels of employment. Additionally, mergers and consolidation also are exerting downward pressure on headcount in the field.
Being prepared to survive layoffs, force reductions and restructurings is vital in the financial services industry, which has highly cyclical levels of employment. Additionally, mergers and consolidation also are exerting downward pressure on headcount in the field.
CMO
A CMO (collateralized mortgage obligation) is a debt security backed by home mortgages.
A CMO (collateralized mortgage obligation) is a debt security backed by home mortgages.
Peer to Peer Lending
Peer to peer lending (or P2P) involves online platforms for matching borrowers and lenders, circumventing the banks. Crowd funding is a related phenomenon discussed here.
Peer to peer lending (or P2P) involves online platforms for matching borrowers and lenders, circumventing the banks. Crowd funding is a related phenomenon discussed here.
Accelerated MBA Programs
Accelerated MBA programs offer a degree after one year of study, rather than the traditional two. These may be worthwhile for students who are concerned about the time and expense associated with a traditional MBA. This article includes a ranking of the top accelerated MBA programs.
Accelerated MBA programs offer a degree after one year of study, rather than the traditional two. These may be worthwhile for students who are concerned about the time and expense associated with a traditional MBA. This article includes a ranking of the top accelerated MBA programs.
How to Dress For Interviews
Today many people, especially young people, show up for job interviews dressed in a highly unprofessional fashion. Here a fashion expert and an executive interview coach offer important advice on dressing properly.
Today many people, especially young people, show up for job interviews dressed in a highly unprofessional fashion. Here a fashion expert and an executive interview coach offer important advice on dressing properly.
Citigroup
Citigroup is a large integrated financial services firm that combines a major bank with a leading securities firm, Smith Barney.
Citigroup is a large integrated financial services firm that combines a major bank with a leading securities firm, Smith Barney.
Support
Definition of Support.
Definition of Support.
GE
General Electric, or GE, is a major player in the financial industry through its GE Commercial Finance and GE Money business lines, which often are referred to collectively as GE Capital in the press.
General Electric, or GE, is a major player in the financial industry through its GE Commercial Finance and GE Money business lines, which often are referred to collectively as GE Capital in the press.
MetLife
MetLife (The Metropolitan Life Insurance Company) is one of the major life insurers, with a number of other lines of business.
MetLife (The Metropolitan Life Insurance Company) is one of the major life insurers, with a number of other lines of business.
TIAA-CREF
TIAA-CREF is the leading provider of retirement accounts and products to employees in academic, research, medical and cultural institutions.
TIAA-CREF is the leading provider of retirement accounts and products to employees in academic, research, medical and cultural institutions.
CDO
A CDO (collateralized debt obligation) is a bond created from a pool of other bonds.
A CDO (collateralized debt obligation) is a bond created from a pool of other bonds.
Tranche
A tranche is one in a series of debt instruments with slightly different terms, but which are backed by the same underlying pool of assets.
A tranche is one in a series of debt instruments with slightly different terms, but which are backed by the same underlying pool of assets.
Ford Credit
Ford Credit (also known as Ford Motor Credit) is the financing arm of the Ford Motor Company. Its sole business is making loans to facilitate the purchase of vehicles produced by Ford and its subsidiaries.
Ford Credit (also known as Ford Motor Credit) is the financing arm of the Ford Motor Company. Its sole business is making loans to facilitate the purchase of vehicles produced by Ford and its subsidiaries.
FDIC
The Federal Deposit Insurance Corporation, or FDIC, is the principal banking regulator in the U.S., and has varied employment opportunities, including internships, for those with expertise in finance, accounting, economics, law or information technology.
The Federal Deposit Insurance Corporation, or FDIC, is the principal banking regulator in the U.S., and has varied employment opportunities, including internships, for those with expertise in finance, accounting, economics, law or information technology.
Barclays
Barclays is a leading global bank, based in the UK and with over 300 years of history. It significantly increased its footprint in the North American securities business with a bargain priced acquisition of several core lines of business from bankrupt Lehman Brothers.
Barclays is a leading global bank, based in the UK and with over 300 years of history. It significantly increased its footprint in the North American securities business with a bargain priced acquisition of several core lines of business from bankrupt Lehman Brothers.