Finance CAREER CLUSTER

Overview Careers in this cluster deal with making strategic decisions to obtain, save, protect, and grow the financial assets of businesses and individuals. Manufacturers and shopkeepers would use loans to pay their suppliers and workers until they could sell the goods to customers. In the second half of the 19th century, the board of trades were set up at different locations, mainly around the Mississippi river. Emerging trends such as digitization, greater security and mobile technology continue to push the finance career cluster. The finance industry is a vital part of the United States economy with over six million people employed in finance-related occupations. Finance careers require specific skills in organization, time management, customer service and communication.

Pathways Accounting Professionals in the accounting pathway record, classify, summarize, analyze, and communicate a business’s financial information for use in management decision-making. Banking Services Employees in this field are employed by banks, credit unions and savings and loan organizations which offer savings, credit and loans to businesses and consumers. Business Finance Individuals working in this pathway design and implement financial and accounting systems for businesses. Insurance Professionals working in the insurance pathway strive to protect individuals and businesses from financial loss associated with death, natural disaster, accident and other occurrences. Securities & Investments Securities include many kinds of investments, including stocks, bonds and mutual funds.

Career Plan A popular profession in this career cluster is investment consulting. Students can gain knowledge and experience by participating in summer jobs or internships. Most advanced positions in investment consulting require a master’s degree; so many consultants continue their education to the graduate level in order to advance in the field. If you have a passion for working with money, these careers may be for you.

Vocabulary Terms Finance management of large amounts of money or means of providing money or credit for something Insurance policies which eliminate risks associated with business transactions, serious hazards, accidents and more Commodity Markets market where producers can go to sell and trade raw goods Securities Markets component of the financial market where investments can be made Industrial Loans loans made specifically to a business or corporation Mutual Funds pooling money into one professionally managed investment

Vocabulary Terms Investments taking ownership or part ownership of an asset with the hopes of generating income Credit Ratings evaluations of the ability of an individual or organization to fulfill their financial obligations Digitization process of converting information into a digital format Subsidiary company which assists or supplements another company Claimant person making a claim in order to gain something, such as government aid Securities investments such as stocks, bonds and mutual funds

Cluster Skills Using computers Collecting information Analyzing data or information Compiling, calculating, tabulating, or otherwise processing information Communicating with supervisors, co-workers, or people that work under you Organizing, planning, and prioritizing work Making decisions or solving problems Creating and maintaining interpersonal relationships

Websites for Students to Access Be your own boss http://pbskids.org/itsmylife/games/boss/ Tycoon games http://www.itexpressions.com/freeonlinetycoongames.shtml Run a business http://igrezadecu.com/hot-shot-business/