Career Strategy Research Proposal

Pages: 9 (2665 words)  ·  Bibliography Sources: 0  ·  File: .docx  ·  Level: College Senior  ·  Topic: Economics

Career Report

Individual Report: The Financial Industry

The need for expertise in corporate finance is required within almost every organization, in every industry. Financial careers tend to fall into three general categories of practice: that of corporate finance, financial planning and investment banking. A financial manager oversees the preparation of financial reports to provide advice about strategy, cash management, and investment activities to an organization. In contrast, financial planners guide individuals rather than organizations about making wise investment decisions and help their clients meet specific financial goals over the short or long-term. They may work independently or for financial service firms.

Buy full Download Microsoft Word File paper
for $19.77
Investment bankers also provide advice about investing capital to meet financial goals, only on a much grander scale than financial planners. Rather than individuals, they offer their expertise and advice to organizations or very wealthy philanthropists. It is this field, based upon my research experience and my own personality profile that would seem to be my ideal future career path. I like the one-on-one and informative, goal-driven daily life of a financial advisor, but investment banking would enable me to have an impact on a much wider scale in terms of what I could accomplish in my field. Investment banking plays a critical role in generating funds for major industry endeavors of expansion, research and development, and innovation. Ethical yet effective investment banking will be even more critical in the future, given the current liquidity crisis. Investment banking demands a wide knowledge base and future-oriented thinking, as well as a competitive drive to generate revenue for a client while still managing risk.

Likes and dislikes:

Research Proposal on Career Strategy Assignment

One of the most appealing aspects of finance is its near universal applicability to any industry. Investment bankers work with the profit and the non-profit sector on a variety of projects over the course of their careers. The future-oriented focus of investment banking requires the investment banker to engage in a strategy of risk management, project a variety of financial scenarios for a client, and analyze future trends on a global scale on a daily basis. Over a given year, an investment banker may work on project than spans a far-reaching gamut of goals and clients, and over the course of his or her career an investment banker may work with wealthy individuals, endowments, government agencies, for-profit corporations, and not-for-profit corporations. It is intensely mathematical and analytical yet also requires sensitivity to individual's and organization's risk tolerance and personal and psychological makeup.

While the educational demands to enter the field are considerable, as are the responsibilities and pressures for the job, I welcome these challenges. I think my high-energy, goal-oriented, and ambitious personality would be well-suited to the career. I envision myself becoming a CFO (Chief Financial Officer), Vice-President, or member of a Board of Directors someday. These jobs would combine both a managerial as well as an analytical capacity. In terms of detriments, the most obvious challenge for future investment bankers is the current credit crunch, and the cutbacks that the industry is facing in terms of jobs and salaries. However, I think that having a chance to be a part of the reconstruction of an industry will be exciting, and I would look forward to exercising leadership in an innovative, ethical, and remunerative fashion. Striking a work-life balance that is livable can be a challenge for investment bankers and of the potential 'dislikes' this is the most common complaint of individuals involved in the field.

Strengths:

have the necessary quantitative and qualitative background required to succeed in this field. My mathematical background would give me the ability to quickly analyze raw data, evaluate that data in terms of the appropriate financial models and determine the best possible course of action. My background in management would enable me to use my findings to realize and prioritize individual and organizational goals. The industry requires an individual who is intensely sociable and extroverted enough to deal well with clients yet can also be fueled by individualistic drive. A client wants to deal with a banker who is competitive and tough when realizing his or her financial interests yet will also be loyal, above-board and communicate clearly the state of the market in an objective fashion to the client. A high degree of self-monitoring and personal responsibility is required.

The nature of my intended workplace at an investment bank would demand that I know how to work individually and on a team. To make my work as interesting and remunerative as possible I would have to fight hard to become part of the most exciting projects at the firm, yet once on a team to realize a goal I would have to channel my personal drive into a common goal. Being on a team in a highly competitive environment would fuel my desire to sharpen my skills to ensure that my knowledge base rose to the 'next level.' I would have to be able to compete with as well as work harmoniously with talented colleagues. Investment banking is highly competitive because it rewards a drive for such recognition and the firm's structure of promotion and bonuses are based upon employee performance, yet employees also have to work side-by-side their competitors on projects. This demands a high level of personablity and the ability to focus and 'multitask,' which I believe I have shown I have the ability to do.

My current occupation as an LMS implementation assistant highlights the need to possess the capabilities to balance introversion and extroversion, and quantitative and qualitative skills. I was hired to handle the technical aspect of a project but the stated barriers regarding the specific duties of my occupation soon began to collapse. I discovered that I could play a critical role in interacting with the clients regarding my technical work. I was proud at the bonds of trust I was able to establish with the faculty and instructors and that they felt free to contact me directly for help. The fact that I am able to generate such a sense of comfort and personal accessibility speaks well of my ability to succeed in a financial field. Particularly today, clients seek a level of comfort and trust when dealing with someone managing issues as delicate as their financial health or their organization's financial health. My success at my current occupation satisfies my desire to show competence, exhibit technical mastery at an intellectual pursuit, yet use my skills to generate satisfaction in others.

That my chosen field will satisfy my desire to work for a personal 'best' in the service of a common goal seemed confirmed by one of the interviews I conducted with WellSpring. In that workplace environment, everyone has independent job tasks and then the individuals meet collectively to pool their unique contribution to a team's collective analysis of a financial statement. For example, the employee in charge of accounts payable and receivable and the employee in charge of inventory and overhead have independent responsibilities but eventually they must mesh their two outputs analysis to produce a final product of analysis and series of recommendations. Team work is thus vital at an investment banking firm, where holistic analysis is the lifeblood of the discipline. Everyone must make a contribution, and the different members making contributions to the team must be organized like finely-tuned machine.

I am proud that my co-workers and clients praise my organizational ability as well as my conscientiousness to detail and deadlines. I have an intense sense of personal responsibility and a love of producing a quality product, and providing a quality service. I am internally driven in terms of being motivated to generate a high level of job performance, but I am also strongly extroverted and love pleasing people and meeting their expectations. Strong interpersonal and communication skills are some of the most important success factors in the career of finance. Experts in investment banking must constantly work to attract, manage, and cultivate new clients. The aptitude for creating a new client base is a primary measure of an investment banker's success. Socializing and sales are intertwined and often investment bankers are always 'on the job,' working to spread the word about their excellence and the excellence of their firms.

Financial firms are frequently characterized as possessing either performance-based culture that rewards high-performing employees or a responsive culture to constant changes in the market environment. According to my score in corporate culture preference scale, I scored highest in an affinity for thriving in a responsive culture, reflecting my competitive nature and desire to explore new opportunities, and third in a performance-based culture. My personality seems to fits the cultures of investment banking organizations and working in an environment that the culture aligns with my personality would lead to better job performance and higher levels of personal satisfaction.

Ethical conflicts frequently arise in investment banking and investment bankers currently in the field state that these conflicts are endemic to the field. One of our interviewees claimed that a successful job candidate is the one who knows… [END OF PREVIEW] . . . READ MORE

Two Ordering Options:

?
Which Option Should I Choose?
1.  Buy full paper (9 pages)Download Microsoft Word File

Download the perfectly formatted MS Word file!

- or -

2.  Write a NEW paper for me!✍🏻

We'll follow your exact instructions!
Chat with the writer 24/7.

Career Development Career Counseling Is Thought Case Study


Career Counseling This Analysis Term Paper


Setting and Achieving Career Goals Research Paper


Networking and Career Fairs Term Paper


Alignment of HRM and Business Strategies Article Review


View 200+ other related papers  >>

How to Cite "Career Strategy" Research Proposal in a Bibliography:

APA Style

Career Strategy.  (2008, November 20).  Retrieved February 27, 2020, from https://www.essaytown.com/subjects/paper/career-strategy/665707

MLA Format

"Career Strategy."  20 November 2008.  Web.  27 February 2020. <https://www.essaytown.com/subjects/paper/career-strategy/665707>.

Chicago Style

"Career Strategy."  Essaytown.com.  November 20, 2008.  Accessed February 27, 2020.
https://www.essaytown.com/subjects/paper/career-strategy/665707.