Finance as a Diverse and Intriguing Field
Finance is one of the most diverse and intriguing fields in the commercial world. It pervades all other areas, including investment, insurance, real estate, and even the health care industry. Finance is an intriguing career that requires intelligence and rigorous skill development. Despite the fact that the financial business is vast, finance students have the opportunity to build and specialize in certain areas. Despite this, certain job choices in finance stand out. Financial management and investment banking are two of these vocations. A detailed examination of these careers is, therefore, prudent taking into account values that individuals in such positions add to any particular organization. In addition to the values that these posts add, it is of equal importance to understand the skills that are demanded, for one to hold the positions.
Financial Management: Adding Value to Organizations
The financial manager is one of the most lucrative careers that any finance student can pursue. As a financial manager, one adds value to an organization through stewardship in achieving profit maximization (Hope 54). To accomplish these goals, data analysis, developing investment strategies and even regulation of risks is some of the duties that any financial manager will undertake. Apart from financial management, Investment Banker is another lucrative career path that any learner in the finance field should pursue. Any person in the position of an Investment Banker adds value to their institution through raising funds for their clients. Raising funds for clients involve either issuance of debt such as the sale of bonds or sale of equity. Investment banking is thus one of the most appealing careers.
Skill Development for Financial Managers and Investment Bankers
For one to succeed as a financial manager, articulate skills are required. In addition to intellect, organizational, leadership and teamwork skills enable any individual to achieve success and maximum profits. Moreover, communication skills are paramount in ensuring that they can explain and expound on complex financial transactions. To develop investment strategies, financial managers also need to develop entrepreneurial skills to ensure maximum profits. In the investment banking field, creativity and innovation reign supreme as one of the most coveted skills in an investment banker. The ability to come up with new ways to solve problems is cherished. In addition to being innovative, discipline, intellect, and broad-mindedness are other skills that any individual should harness to ensure success in their careers. Communication and teamwork also play a significant role in ensuring success.
Why Investment Banking Stands Out
Between the two career paths, the investment banker appears better for any ambitious students in the finance sector. Finance is a risky field, and returns and remunerations are much higher compared to other industries(Ellul.1). The global aspect of investment presents opportunities for growth to the investment banker. There is also the longevity of careers in the investment banking sector as 73% of people who begin careers in investment banking will still be there in a later year (Oyer 2616). Investment banking is, therefore, the crème de la crème of careers in finance.
Conclusion
In summary, finance is a risky but exciting field. Financial managers and investment bankers are some of the career options available for any finance student. Financial managers add value to their companies through stewardship in achieving maximum profits while investment bankers raise funds for clients through various means. Multiple skill sets are crucial for success in both areas of finance. However, Investment banking is better suited for any students looking to grow their careers to great heights.
Works cited
.Ellul, Andrew, Marco Pagano, and Annalisa Scognamiglio. "Careers in Finance."
Hope, Jeremy. Reinventing the CFO: how financial managers can transform their roles and add greater value. Harvard Business Press, 2006.
Oyer, Paul. "The making of an investment banker: Stock market shocks, career choice, and lifetime income." The Journal of Finance 63.6 (2008): 2601-2628.
