Learn how to avoid being a gofer and rise to the top
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By Porter B. Hall
Making a plan for your finance career
can help avoid years of busy work
and thankless errands.
While most of us love the things that money can buy, it's not easy to manage the stuff, much less make a career out of it. Those up for the challenge, however, will find that a finance career can be incredibly lucrative and exciting.
Unfortunately, it's also very competitive, and, especially at the beginning, it can be easy to find yourself simply fetching coffee and crunching numbers. In order to avoid spending years as a thankless gofer and get into that corner office and pinstripe power suit, you will need to make a few strategic moves.
When embarking on your career path, it's crucial to choose a direction. Finance careers can lead any number of places, so before diving in, research a variety of types of jobs and think about what aspect of the industry most appeals to you. Some of the major subfields of finance include corporate finance, financial planning, investment banking, private equity, investment management, commercial lending, and sales and trading. Having a sense of where you want to go will allow you to choose what kind of work and knowledge to pursue. This foresight and direction will help you develop targeted skills and thus create a niche for yourself in the fast-paced and widespread finance industry. Additionally, actively pursuing a specific career goal will let your superiors see that you have a heightened level of dedication and motivation.
Given the complexity of financial processes and instruments, the government's frequently changing regulation of the finance industry, and emerging worldwide markets, education is absolutely essential for a finance career. While, according to the Bureau of Labor Statistics, a bachelor's in business from an accredited school is a minimum requirement for the field, success in the finance world is easiest to be had with a specific finance degree. While many people work their way up from the entry level job they attained with only a bachelor's, many top finance professionals got a head start in the field by earning an MBA.
To get a real rocket boost up the corporate ladder and out of the copy room, you'll need to continue educating yourself. Specialists who keep up on the latest laws and methods through journals, conferences and professional organizations have a clear leg up when it comes to getting a big promotion.
While the cliché may claim that in Hollywood "it's not what you know, but who you know," in finance it's both. Employers want to know both who you are and what you can do, and they're not likely to rely solely on your resume for that information. Networking will not only allow you to meet people in the field and learn more about finance in general, but it will also help you create the invaluable personal connections that often drive vertical career movement.
It is a good idea to join one or more professional organizations, such as the American Bankers Association or the Association for Financial Professionals. Attending sponsored events will help you meet people at all levels of finance careers and stay abreast of current trends and news in the industry. Alumni networks are also excellent vehicles for making connections within the field. Jon Howell of the Harvard Business School Association of Orange County, CA says, "All you need to do is just show up [to an alumni event] to have access to senior management in your community."
To really get ahead, however, you may want to think beyond the routine meet-and-greet social mixers. Try, for example, volunteering to serve on a committee that will show off your professional working style, strategic vision and, most of all, your energy and enthusiasm. By making yourself visible in the larger finance community, you demonstrate your commitment to the field, give yourself the opportunity to learn from a range of potential mentors and make connections beyond your workplace.
American InterContinental University Online
AIU Online offers convenient, flexible alternatives that enable you to fit a career-focused education into your current lifestyle. This is the perfect format for students looking to pursue opportunities in a competitive job market.
Walden University - School of Management
Walden University has unique and flexible online delivery models, world-class faculty and customizable programs which are all geared to help adult learners achieve their career goals.
University of Phoenix
University of Phoenix makes quality higher education highly accessible for working students through convenient campus locations and flexible online classes. Get a real-world education with real value.
