I. Objectives
At the end of my professional career, I want to be recognized as someone who made a positive difference in the lives of the people and in organizations that I was associated with. I know I have to work hard to get this recognition, and I am willing to put forth the necessary effort. I intend to approach everything I do with a positive attitude, lots of enthusiasm, and a desire to ‘make the difference'.
I also realize that to accomplish all that I want to, I will have to continue to learn new skills as I progress. I am majoring in finance and marketing. My immediate objective is to find a job where I can learn as much as possible. I want exposure to a broad range of business areas. In this phase of my career, I want to build a strong base of knowledge and experience. I also want to gain some specialized knowledge in finance, but I do not want to become so specialized that I am no longer flexible. Achieving my short -term goals will prepare me for my long-term career aspirations. My short-term goals doesn't geographic or salary constraints. I will relocate anywhere regardless of salary in order to put myself in a position to gain experience and knowledge.
In the medium term, I'd like to obtain a secure yet challenging job. By this time, I expect to know more specifics about the career path I want to take. Hopefully, as a result of achieving my short-term goals, I will have an impressive combination of knowledge, skills, and experience to move ahead. I consider getting the Certified Financial Analyst (CFA) designation from a nationally ranked university.
My long-term goal would be on the top of the corporate ladder. It would be nice to do this by climbing straight up one ladder, but most likely I'll need to jump laterally from ladder to ladder to continue my assent. Ideally, I would like to end my professional career as a CEO of a corporation. I would get enjoyment out of knowing that I make an impact on the day-to-day lives of everyone my company influences. If I can achieve each of my goals to their fullest extent I should be able to accumulate a good deal of wealth by time I retire. I hope to live a long and comfortable retired life, giving back to the community and financially supporting my fraternity, making a lasting impression on each.
II. Career Path
Job 1: Business Analyst with a Consulting Company (Age 23-30)
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Job 2: Corporate Financial Analyst (Age 30-45)
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Job 3: Financial Manager for a corporation (Age 45-51)
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Job 4: Vice President of Finance for a major corporation (Age 45-51)
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Job 5: President or CEO of a major corporation (Age 55-62)
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Fall Back Plan:
In the event that I am unable to get a consulting job, I will need to find another career. I would still like to stay in the field of corporate finance. There are many companies that hire entry-level people for their finance departments. This is the type of job I would be qualified for. This would still allow me to advance in the corporate world although perhaps not as quickly.
On such option would be to work in the treasury department of a large corporation. Here, I would be responsible for the daily cash management functions. Since cash flow is the lifeblood of a company, this position would put me at the center of the firm's activities.
III. Analysis
The primary career I have chosen is corporate financial analysis. This career requires hard work, patience and perseverance. I will start out on the bottom floor and prove myself. Through this career I will advance from junior analyst to senior analyst to manager up to CFO status. There are many intermediary positions in between.
An important characteristic of a financial analyst is to be analytical. Financial analysts must use various quantitative techniques to address issues involving when and where to obtain financing when and if to accept projects. They must be able to sift through numbers and obtain the useful information. Financial analysts make frequent use of spreadsheets and financial models.
A certain degree of organization and communication skill is needed to be a financial analyst. A financial analyst must be able to organize information in a manner so that it is easy for superiors to understand and use. A financial analyst must be able to understand the context in which information is useful and present it that way. This will drive the analysts' choice of methodology. If effective communication with superiors is not established then the work of a financial analyst will not be recognized or rewarded properly.
A financial analyst needs to be knowledgeable and comfortable with all aspects of the corporations operations. The actions of the finance department will affect the actions of all other department in the business. An analyst needs to understand the broad implications of his actions with respect to the rest of the company. In addition, a financial analyst needs to understand the implications of his actions from an outside the company point of view.
It seems the stress level in corporate finance is not as high as say, in trading. However, the hours are typically long. During certain times, such as when a new project must be undertaken, the level of stress and the time commitment will increase. The activities and assignments for a financial analyst can vary and possibilities for lateral movements into other types of financial analysis usually exist. Generally, financial analyst can continue on their career path for many years without burnout. My commitment to hard work, my desire to ‘make the difference', my willingness to keep learning to constantly expand and improve my skill set are all characteristics that I believe will take me down the road to success.
