Presentation on theme: "E XECUTIVE B OARD President-Anna Mayr Exec VP- Sam Pulitzer VP of Finance- Jeff Williamowsky VP of Administration- Matt Captline VP of Marketing- Matt."— Presentation transcript:
E XECUTIVE B OARD President-Anna Mayr Exec VP- Sam Pulitzer VP of Finance- Jeff Williamowsky VP of Administration- Matt Captline VP of Marketing- Matt Bromiley Corporate Liaison- Josh Pupkin SUSA Rep- Paul Abel FMA Rep- Webster Hughes Webmaster- Eric Kuang
F INANCIAL C ONSULTING Advise corporations on financial issues Review business plans and decisions Suggest methods to improve valuation Assess business and capital structure Provide useful advice for Risk management Government regulations Industry trends Provide independent evaluation of potential options
F INANCIAL C ONSULTING Profitable industry Intense travel schedules Team-oriented environment Major firms McKinsey Bain Boston Consulting Group Deloitte
F INANCIAL A DVISORY AKA financial planning; help clients select appropriate assets Education: Pass the Series 7 broker/dealer exam; possibly obtain CFP designation and/or MBA Responsibilities: Find clients and help them understand investment opportunities; monitor markets and make quick decisions; have strong people skills and be able to sell your ideas; initially work long hours to find clients Pay: According to BLS, as of May 2009, median compensation was $68,200; top 10% earned over $160,000; financial advisory is very strongly commission based
W EALTH M ANAGEMENT Combines financial/investment advice, tax services, and legal/estate planning; financial advisory for clients with higher net worth; often employed by banks and investment firms Education: Pass Series 7 exam; possibly obtain CFP designation, law degree, or an MBA Responsibilities: Find clients and provide them with personalized advice; sustain and increase clients’ wealth over time and help them plan for the future; after clients have been acquired, work as long as it takes to meet their needs Pay: Typically between $65,000 and $85,000; once again, strongly based on commission
T HE “B IG F OUR ” All firms offer areas specializing in finance PwC – Financial Consulting IPO readiness, risk & capital management, finance function systems & applications Financial Instruments & Credit Group (FICG) Deloitte – Financial Advisory Services Business valuation, forensic center, capital projects consulting Ernst & Young – Advisory for Financial Services Performance improvement, risk management, capital & transaction management KPMG Private equity consulting, banking & finance restructuring
Internship : 10 weeks, 40-50 hrs. per week. Limited responsibilities, but very informative Full Time : 50-60+ hrs. per week, specific responsibilities. Travel may be involved. Work Load Internship : $23+ per hour Full Time : Many factors influence, but median starting salary is $59,000 (2010) Salaries Pre-defined track in each company. Analyst – Consultant – Senior Consultant – Manager – Senior Manager - Director/Partner/Principal Career Paths T HE “B IG F OUR ” Culture is important aspect in all companies Intra-company clubs, community service activities Important work/life balance through telecommuting, on-site options Continuing education – Tuition/Certification options for all employees Culture
T HE “B IG F OUR ” Pros Company focus on culture and employee development Great starting salary Continuing education options Career path is laid out Cons Long work week Not as much responsibility as smaller firms – client restriction High internal and external competition Geographic restrictions due to clients
Is Sales & Trading Right for You? Skills/Traits Needed: Highly focused Excellent quantitative skills Thrive in fast-paced, stressful environment Ability to multitask & prioritize.
S ALES AND T RADING Exit Opportunities Few Exit Ops outside trading Can move up the ladder Trading at Hedge Funds Professional Areas Sales long term client relationships Present investment ideas Sell and cross sell firms products Trading Develop and execute trading ideas and analysis Market Making trade execution process
I NVESTMENT B ANKING Help companies raise debt or equity Advise companies Mergers & Acquisitions Restructuring Analyst, Associate, Director, Managing Director Analyst Responsibilities: Presentations, Pitch books Valuation & Financial Modeling Industry/Company Research *Investment Banking Interview Prep http://investmentbankinginterviewprep.blogspot.com/2008/02/citigroup-profile.html
I NVESTMENT B ANKING C ONT. Pros Deep understanding of financial statements and valuation Great exit opportunities (Private Equity, Hedge Fund, etc) Experience Salary (entry level: $90K- $150K) Cons 80-100 hrs/week Hours vary Stressful *Investment Banking Interview Prep http://investmentbankinginterviewprep.blogspot.com/2008/02/citigroup-profile.html *http://www.careers-in-finance.com/ibsal.htm
I NTRODUCTION TO C ORPORATE F INANCE Responsibility - Corporate Finance addresses the following three questions: o What short and long-term investments should the firm engage in? o How can the firm raise money for the required investments? o How much short-term cash flow does a company need to pay its bills? Early Career Path - Many firms hire undergraduates and MBAs for training programs in corporate finance; some programs are finance and accounting-specific, and others rotate trainees throughout the company. Education - To advance through your career, you will eventually need an advanced degree or certification (MBA, CFA, CPA, etc.) in addition to an undergraduate degree. Compensation - Corporate finance compensation will vary by seniority, region, size of company, and industry. o The median expected salary for a typical Entry Level Corporate Finance Analyst in the US is $55,970, according to vault.com
C ORPORATE F INANCE ( CONT.) Life Style: Hours Per Week depends on seniority, region, size of company, and industry. o Generally can be demanding for entry level positions (anywhere from 60 to 65 hours per week) o Jobs in corporate finance are relatively stable. o Benefits of working in the field include: You generally work in teams which help you work with people Responsibility is to tackle business problems that make a difference Opportunities to travel and meet senior people in different industries Pay is generally quite good relative to entry level positions in other industries
T HE MBA What: 2 year program Admissions based on resume, GPA, GMAT scores, work experience & essay responses When: 3-5+ years after Undergrad Why: Exit Opportunities & alumni network “Reset Button” Top schools: Harvard, University of Chicago, Wharton, Stanford, Northwestern, Columbia, Michigan, NYU, etc.
T HE B UY S IDE : P RIVATE E QUITY & H EDGE F UNDS The Buy Side: No clients = less “fire drills” Mostly only experienced hires & MBAs Better pay & hours (sometimes) than investment banking Private Equity: Firm buys part or all of a company and later resells for a profit Top firms: KKR, Blackstone, Apollo, TPG (more hours here) Hedge Funds: Comparable to Mutual Funds but more advanced strategies & exclusive Thousands of HFs in the US Positions: trading, risk management, quant analyst, fundamental analyst
U PPER F INANCE C OURSES BMGT443 Equity Analysis & Portfolio Management BMGT 444 Futures & Options Contracts BMGT 445 Banking and Financial Institutions BMGT 446 International Finance Lemma Senbet Fund
W HAT S HOULD I B E D OING N OW ? Get some sort of experience (business preferred) the summers following your freshman and sophomore year Start reading + become familiar with the terms! Learn about the industries…the vault guides are a good place to start Fellows Programs
R ESOURCES Available on HireSmith (for free) Vault Guides WetFeet Mergers & Inquisitions (also have courses) Wall St. Journal Economist Investor’s Business Daily
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