BY: VALERIA CALDERA HOUR: 3 SMITH CAREER EXPLORATIONS Career Cluster Report: Finance

Finance Career Cluster Definition Finance: n. the management of revenues; the conduct or transaction of money matters generally, especially those affecting the public, as in the fields of banking and investment.

Vocabulary Accounting: the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. (distinguished from bookkeeping ). Invest(ing/ment): v. to put (money) to use, by purchase or expenditure, in something offering potential profitable returns, as interest, income, or appreciation in value. Economics: n. the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. Inductive reasoning: n. reasoning from detailed facts to general principles Marketing: n. the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.

Career Pathways Securities and Investments Business Finance Accounting Insurance Banking Services

Securities and Investments Business Finance The securities and investments industry consists of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions. Related services include financial planning, asset management, hedge fund management, and custody services. Jobs: analyst, associate, investor The business finance function in a company is to manage policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation. Jobs: personal finance advisor, financial analyst, loan offices, management analyst, tax examiners and collectors.

Accounting Insurance Accountants prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. They assess financial operations and work to help ensure that organizations run efficiently. Jobs: financial accountant, auditor, budget analyst, financial manager, Tax accountant, public accountant, payroll manager, management accountant, etc. Jobs in insurance involve helping individuals and business manage risk to protect themselves from catastrophic losses and to anticipate potential problems. Work in this area is not only personally rewarding, but can be financially rewarding as well. Jobs: sales representative, asset manager, actuary, customer service rep, underwriter, product manager.

Banking Services Assist customers with routine account-related requests and resolve customer problems, acting as the customer liaison between other bank departments when necessary. Research customer questions regarding electronic funds transfers and initiate “Reg E” disputes when appropriate, including the completion of all necessary documents and affidavits. Jobs: bank teller, account manager, credit clerk, banking officer, bank examiner, banking supervisor.

Accountants and Auditors There are a wide range of career opportunities for accounting graduates and understanding your interests and strengths can help you choose a good fit for you. You can pursue work as an accountant at a corporation or non-profit, accounting firm, the government, or start your own practice.

Accountants and Auditors They are under career cluster of accounting. Most accountants and auditors work full time. About 1 in 5 worked more than 40 hours a week in Longer hours are typically seasonal (at certain times of the year) such as end of budget year or tax season especially. You only need a bachelor’s degree. Job Outlook: projected to grow 13% from , also expected to be closely tied to the health of overall economy.

Accountants and Auditors Currently there are about 1,275,400 people employed in this occupation Wages/salary: $63,550 annually and $30.55 an hour. Tools and technology used: desktop computer, laser fax machine, accounting software, and compliance software. Knowledge: mathematics, economics, and accounting. Skills and abilities: active listening, reading comprehension, number facility, and inductive reasoning, Work Values: achievement and independence.

Personal Financial Advisor Responsible for providing financial guidance and investment to individuals regarding investment strategies. Look at someone's overall financial picture and attempt to help them improve upon it by recommending savings, stock, or other investment decisions.

Personal Financial Advisor This occupation goes under career pathway of business finance. They mainly work for financial and insurance companies. Typically work in offices also and some even travel to attend conferences or teach finance classes to bring in more clients. It tends to be less stressful than financial occupations. They also work full time; 40 hours a week. You just need a bachelor’s degree

Personal Financial Advisor Job Outlook: 27% (faster than average) from , due to aging population. There are currently 223,400 people working under this occupation. Wages/salary: $32.46 an hour while making $67,520 a year!

Personal Financial Advisor Tools and technology used: desktop computers, notebook computers, document management software, and spreadsheet software. Knowledge: sales and marketing, law and government. Skills and abilities needed: oral comprehension and speech clarity. Work Values: independence and achievement.

Fastest growing jobs:  Management analyst: $78, 600  Financial analyst: $76,950  Financial examiners: 75, 800  Budget analyst: $69, 280  Personal financial advisors: $67, 520  Accountants and auditors: $63, 550  Insurance Underwriters: 62, 870  Purchasing Managers, Buyers: 60, 550  Market Research Analyst: 60, 330

Skills, Training, and Experience  Budgeting skills  Evaluation and monitoring skills  Financial management  Legal awareness  Active listening  Mathematics usage  Reading comprehension  Public speaking  Time management  Independence. Normally you just need a bachelor’s degree but for higher positions a masters degree can be asked of (Master of Business Administration).

Job Training and Experience Jobs that require just high school degree:  Business operation specialist  Accounting assistant  Collections agent  Account clerk  Quality auditor Jobs that require a college-degree (4 years):  Accountant  Auditor  Budget analyst  Cost estimator  Financial analyst

Job Training and Experience Jobs requiring an advanced college degree:  Advanced internal auditor  Financial Services solution consultant  Loan Administrator  Compensation Administration Director  Senior accountant  Executive recruiter

Interview Q: What is your job? (location/company) A:I’m the CFO for Pinnacle Venture Investments, LLC located in Overland Park, KS. We are a family-owned business with approximately 175 employees. We own and manage several different companies with our main business being in the career college industry. Q: What are some of your responsibilities? A:: I am responsible for the overall financial aspects of the business with primary responsibility for monthly financial statement preparation, financial reporting and providing management with financial data. Q: When did you discover that this was what you wanted to do with your life? A:I took an interest in Accounting when I took an introductory Accounting course in high school and enjoyed it. From that point on I pursued Accounting throughout my college career. My father was an accountant as well so that probably had an influence on my career choice as well.

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