JOBTALKS Career Options in Finance Indiana University Kelley School of Business C. Randall Powell, Ph.D Contents used in this presentation are adapted from Career Planning Strategies and used with the permission of the author.

CAREER OPTIONS IN FINANCE Business X420 Kelley School of Business Indiana University

Consider credentials you have to offer Employers nYour resume is an important part of understanding what you have to offer employers nFollow-up with a review of what your career options are What do you really want to do? Starting a Job Search

To aid in exploring job options, try a functional management approach JOB Multiple Options to Explore

Management Assumption JOB Because you hold a college degree, you might strive for a management or administrative opportunity There are logical starting assignments for a management career

Senior Manager, Top Executive?... Where do you start?  Break management down. What will you be managing?  Three basic functions will be done in nearly all work environments FINANCE MARKETING OPERATIONS Functional Approach

The Operations function creates the product or service The Finance function keeps the enterprise viable The Marketing function delivers the product or service to the customers The Three Functions

ACCOUNTING AND FINANCE Controller Partner Auditor Accountant Financial Analyst Real Estate Manager Tax Specialist Credit Manager

Accounting and Finance Tax Preparation Cost Studies Financial Analyst TYPE OF WORK AuditingPricing Reporting

Accounting Advancement Accountant / Analyst Senior / Manager Manager / Controller Sr. Manager / Director Partner / VP TYPICAL PROMOTION PATH

Highly Selective Emphasize Grades Outgoing Personality High Pay –Great Training Drawbacks –Travel –Turnover PUBLIC ACCOUNTING

Public Acctg. Job Seekers Interview Early Feedback Small Firms Be Realistic

INTERNAL AUDITOR Accounts for funds Conducts project analyses Recommends actions Internal consultant Cuts across all organizational reporting lines

Industrial Accounting: Fortune 500 Firms Highly Selective Top Salaries Training

Accounting Salaries Class of 2005 AverageRangeAvg Signing Bonus Corporate $41,802 $24,705 - $53,000$2,000 Public Acctg $46,486 $39,000 – $55,000$1,800 Overall $46,381 $24,705 – $55,000$3,000

Accounting Employment by Position Class of 2005

Top Hiring Companies Class of 2005 American Express Bear, Stearns & Co. BKD LLP Cinergy Corp. Crowe, Chizek & Co. LLC Dauby O'Connor & Zaleski Defense Finance & Accounting Deloitte & Touche LLP Eli Lilly Ernst & Young US LLP Ford Motor Company General Electric Company Goldman Sachs & Co. Grant Thornton LLP IBM Corporation J.P. Morgan Chase & Co. Johnson & Johnson Katz, Sapper & Miller, LLP KPMG LLP McGladrey & Pullen, LLP Motorola, Inc. Ostrow, Reisin, Berk & Abrams LLP Plante & Moran PricewaterhouseCoopers Sherwin-Williams Company Standard & Poor's UBS Investment Bank Zimmer, Inc.

Personal Qualities Sought FINANCE: Analytical mind Enjoy project work Presentation skills Attention to detail Organized Attitude

BANKING Bank of America Bank One Harris Bank LaSalle Bank National City Corp. Wells Fargo

BANKING Installment Lending Branch Management Trust Commercial Lending International Operations Credit Analysis FUNCTIONS Personal Banking

BANKING Qualifications: Degree Depends On Function Preferred Majors: –Finance –Economics –Systems Depends On Size –Management –Real Estate –Marketing

Investment Banking Top grades REQUIRED Prefer some experience (internship, workshop) in investment banking Long hours an industry standard Future MBAs strongly encouraged.

INSURANCE Allstate Anthem/Wellpoint CIGNA Mutual of Omaha Northwestern Mutual Financial Network Primerica State Farm

Management Training AdjustersActuarial TYPES OF JOB OPPORTUNITIES SalesInvestment Data Management

FINANCE SUMMARY Overview Many Opportunities Further Interest? Explore In More Depth

Salary Statistics Class of 2005 Average Signing AverageRange Bonus Financial Analyst $46,625 $31,200 - $65,000 $4,000 Banking $43,071 $33,000 – $47,000 $2,800 Corporate Finance $45,551 $36,500 –$53,000 $2,900 Insurance $31,667 $30,000 – $35,000 - Investment Bking $54,500 $25,000 – $65,000$10,000 Real Estate $40,750 $35,000 - $50,000 - Overall $46,641 $25,000 – $65,000 $3,500

Employment by Position Class of 2005

Top Hiring Companies Class of 2005 Abbott Laboratories* Accenture American Express Bank of America* Baxter Healthcare Corp.* Bear, Stearns & Co. Central Intelligence Agency Crowe, Chizek & Co. LLC Cummins, Inc.* Defense Finance & Accounting* Deloitte & Touche LLP Eaton Corporation* Eli Lilly * Finance Rotation Programs Epic Systems Corporation Ernst & Young US LLP FedEx Ford Motor Company General Electric Company* Goldman Sachs & Co. IBM Corporation J.P. Morgan Chase & Co. Johnson & Johnson* Kohl's Department Stores KPMG LLP LaSalle Bank Lehman Brothers

International Jobs Interest in Foreign Nationals Not Hired Directly Moved Later

International Experts Recruit International Experts Months Assignment Language Helpful Language and Cultural Training Request Transfer to International

Types of Consulting: n Compensation/Benefits n Strategy only n MIS n Operations Consulting

Skills: nConceptual and analytical nInterpersonal nQuantitative nCommunication (oral & written) nOrganizational nTechnical Consulting

Associate or Consultant (2-3 years) Senior Associate (1-2 years) Manager or Principal (2-4 years) Vice President or Partner Typical Career Path

Get a broad overview Can't cover ALL aspects Total Career Exploration

If you would like to learn more, Career Planning Strategies textbook will supply additional information on this topic.