Transcript Document
Careers and progression in the finance industry
Your name Date of presentation
Introduction
• • • About me My background and progression to date inc school and uni My career plan
Opportunities in the finance industry?
• • My Reasons You could talk about the Key words of reward for responsibility and managing risk
Who goes into finance ?
Contemporary issues
Types of companies
Accountancy Banking Investments Pensions Finance Insurance Financial Planning
What and who is at risk in this picture ?
Risks and opportunities
What could we assume the opportunities are here for the finance industry ?
Roles and responsibilities
Client facing Client Supporting
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Client facing roles
Direct interaction with clients Sometimes known as Origination roles as this is where new business and deals originate Examples are dealers, traders, commodity brokers, wealth management, private equity, corporate investment banking What would employers look for in these roles?
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Client supporting roles
Supporting , technical and operational functions of the company.
They make sure that the company can collect the money they are owed, pay the staff and investors, train and recruit staff, provide the technical support e.g. IT, HR, Payroll, Operations What kind of people do employers look for these roles?
A bit of both
• • Sometimes known as middle office These roles can be either client facing or supporting depending on the company and its business • Treasury • Research
Skills
• • What skills do employers need for entry to finance sector ? For some roles being numerate and good with numbers ranks highly but never as highly as ……………….
Skills
• • People skills Communication skills
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Skills
• Passion and enthusiasm Energy and stamina • Initiative • Problem solving • Analytical • Multi tasking • Precise • Self aware
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Examples of problem solving activities
Group one : What questions would you have to ask if you were inventing a new financial product?
Group two: Your client is interested in buying another company. What do you need to find out for them and why? Group three: Your client is a premier league football club. What risks do they face and how could finance and accountancy companies be used to help them manage their risk?
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Professional Qualifications
Once you are in the industry there are professional qualifications you will need to gain to continue in the sector. You cannot do these qualifications at university or college as you need to be working to gain them . Examples Accountancy: ACCA, ACA or CIMA Insurance: CII certificate Financial planning: FPSB UK Diploma
Routes in
As a school leaver with A levels or BTEC As a graduate with a university degree
At age 18 - school leaver with A levels or BTEC Apprenticeship scheme
• • • • YOU GET Paid approx. 14- 20 k per year No university fees Employer pays for your qualifications and training costs You have three years experience of sector by age 21 • EMPLOYER WANTS bright enthusiastic people Grade expectations from GCSE often include B in maths GCSE and usually more than 240 UCAS points but see employers’ websites for details e.g. whether specific subjects at A Level / BTEC are required
At age 21+ - university graduate with BA or BSC degree Graduate scheme
• • YOU GET Paid approx. 20- 30 k per year, rising quickly once qualifications secured- this takes approx. three years . Taking some degrees e.g. accountancy will exempt you from some of the exams Employer pays for your qualifications and training costs • • • EMPLOYER WANTS bright enthusiastic people and are often interested in A Levels as well as degree results Which subject do employers prefer you to have studied? Some prefer a numerate degree – broadly classified as maths, accountancy, engineering, economics but most employers consider most degrees including business, history, geography, politics and languages.
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At age 21+ - university graduate with BA or BSC degree
Of all the graduates that became graduate-level finance professionals six months after leaving university in 2011, 21% had studied accounting and finance degrees The rest came from a variety of degree backgrounds, such as business studies, economics, English, geography, history, law, maths and politics Research by the Higher Education Statistics Agency (HESA).
18 or 21?
• Discuss the pros and cons of entering the industry at 18+ and 21+
http://www.directions.org.uk/getting-in
/
Getting experience
Whilst the total number of graduate vacancies is set to increase in 2013, recruiters expect that over a third of this year’s entry-level positions will be filled by graduates who have already worked for their organisations – either through internships, industrial placements or vacation work.
Getting experience
• • Give examples of your personal work experience , where and when and what you gained from it Give some advice on how to get work experience
Get in Get on
• http://www.directions.org.uk/getingeton/wha t-get-get/
Get in Get on
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Join me to tackle future challenges
Increased regulation Emerging markets Ageing populations Increasing middle class and disposable income Environmental concerns Globalisation New Technologies