Finance Career Information

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1 CAREER PLANNING AND PLACEMENT OFFICE Finance Career Information Wayne State University School of Business Administration Career Planning and Placement Office 5229 Cass Avenue 240 Rands Detroit, MI

2 Finance The complex world of finance can be defined in a variety of ways ranging from the study of money and other assets, to the science of managing money, or even from profiling and managing project risks, to the management and control of assets, or to the delivering of financial services. While majoring in finance you can study topics such as commercial and investment banking, forecasting and budgeting, and asset and liability management. You will learn about money, stocks and bonds, and how the market functions. Areas Corporate and Public Finance Financial Analysis Cash and Credit Management Budget Analysis Investment Management Investor Relations Financial Reporting Treasury Risk Management What Can I Do With This Major? Employers Private businesses of all sizes and types State and local government entities Schools and universities Federal agencies Non-Profit organizations/foundations Hospitals Banking Corporate Credit Analysis Commercial Lending Branch Management Mortgage Loans Private Banking Commercial banks Credit unions Regulatory agencies Insurance Claims Analysis Risk Management Sales Life insurance firms Commercial banks Savings banks Personal Financial Planning Sales Customer Service Portfolio Management Financial Planning Brokerage firms Trust companies Financial partnerships Sole practitioners Page2

3 Investment Banking Corporate Financial Analysis Mergers and Acquisitions Trading Investment banking and financial services firms According to the latest MWACE Trends in Recruiting data, the average Midwest salary for finance majors obtaining their undergraduate degree is $42,811 Finance Career Titles Use this as an idea list, and remember that it represents some, but certainly not all of the careers you might consider with a finance degree. Some positions listed require education beyond a bachelor s degree. For all of the positions listed, it is highly recommended that you obtain a finance internship while you are still enrolled as a student. Budget Analyst Manages the input of budgets, various projects, data collection, and writing and editing reports. Develops, analyzes, and executes budgets that are used to assess future financial needs. Credit Analyst Conducts financial statement reviews for loan officers, as well as comprehensive statement spreading. Assists with loan reviews and external auditors. Financial Analyst Provides guidance to businesses and individuals making investment decisions. Financial analysts assess the performance of stocks, bonds, commodities, and other types of investments. Uses spreadsheet and statistical software packages to analyze financial data, spot trends, create portfolios, and develop forecasts. Analysts also use the data they find to measure the financial risks associated with making a particular investment decision. Financial Planner Develops and implements financial plans for individuals, businesses, and organizations by using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate Investment Banker Page3

4 Advises clients on high level issues of financial organization. Manages the issuance of bonds, recommends and executes strategies for taking over and merging with other companies, and handles selling a company s stock to the public. Stockbroker Invests in securities, money and various financial products on behalf of institutional, corporate and private clients. Offers recommendations on buying and selling stocks based on analysts interpretations of financial market. Career Planning & Information: Related Web Sites Finance career information in commercial banking, corporate finance, financial planning, insurance, investment banking, money management, and real estate Career Bank is a career center for the accounting, finance, mortgage, insurance and banking community United States Department of Labor Occupational Outlook Handbook Job and Internship Listings: WayneBizCareers Exclusive to WSU School of Business students and alumni Bank Jobs Provides career information and recruits employees for financial institutions Intern in Michigan Offers internship opportunities in organizations throughout Michigan OneWire Candidate and employer matching job search site specifically for financial industry positions across the nation efinancial Careers Specialized career site focused on finance, banking and accounting positions Robert Half International Staffing Staffing firm focused on placing finance and accounting professionals in leading organizations Page4

5 Finance Professional Worldwide Provides job opportunities for finance professionals worldwide How to Get Involved on Campus Consider joining a WSU School of Business Administration Student organization. Benefits of joining include: Leadership opportunities- employers love to hire candidates with demonstrated leadership experience Social/networking opportunities Volunteer/service events Relevant Student Organizations in the Business School include: FMA-Financial Management Association- fma@wayne.edu for membership information BAP-Beta Alpha Psi- bap@wayne.edu for membership information Partial List of Employers that Recruit Finance Majors on Campus General Motors Ford Chrysler Meritor Ally Financial Prudential Michigan First Credit Union Thomson Reuters Northwestern Mutual Kellogg Comerica Bank Quicken Loans DTE Energy PNC Bank Wells Fargo Advisors Page5

6 Recruiting Calendar AUGUST SEPTEMBER OCTOBER S M T W T F S S M T W T F S S M T W T F S -Majority of on-campus -Annual Career Day Career interviews held 1 (positions Fair expire 1-2 weeks before Prep for Fall Recruiting -Companies present on interview date) -Meet with advisor for 6 campus almost daily! Attend 7 company resume review -Set up a mock interview presentations/workshops -Update your -APPLY for jobs/internships waynebizcareers.com by deadline profile NOVEMBER DECEMBER JANUARY S M T W T F S S M T W T F S S M T W T F S -Second round interviews at Keep in mind that the Prep for Winter Recruiting company site majority 2 of campus Meet with advisor for REPORT any job/internship recruiting for the YEAR is resume review offers to Career Planning over by November. Don't -Update 10 Office miss out 16 on Fall 17 recruiting for waynebizcareers.com summer jobs/internship offers profile FEBRUARY MARCH APRIL S M T W T F S S M T W T F S S M T W T F S The Career Planning Majority of oncampus interviews job/internship offers Report any office 2 often 3 hosts 4 a smaller winter and recruiting to Career Planning career fair this 3 events 4 kick 5 off 6 this Office 5 month month Page6

7 Finance Organizations and Associations: The Association for Financial Professionals Provides certification, products, education and training for treasury and corporate finance CFA Institute The Global Association of Investment Professionals Global, not-for-profit association of investment professionals that awards the CFA and CIPM designations Society of Financial Service Professionals Investment Management Consultants Association Provides investment consulting and wealth management credentials and educational and professional development resources Financial Management Association International Promotes knowledge about financial understanding and education. Members include academicians and practitioners worldwide. Michigan Venture Capital Association Members are credentialed financial service professionals who provide financial planning, estate planning, retirement counseling, asset management and other services and products to their clients. Page7

8 Major Banks, Thrifts and Credit Unions in Metro Detroit Company Ann Arbor State Bank Arbor Bancorp Inc. Bank of Michigan Citizens Republic Bancorp Inc. Clarkston Financial Corp. Comerica Bank Community Central Bank Corp. Crestmark Bancorp Inc. CSB Bancorp/Chelsea State Bank Dearborn Bancorp Inc. Dearborn Federal Savings Bank Fifth Third Bank Eastern Michigan First Independence Corp. First Michigan Bancorp Inc. First State Financial Corp. Flagstar Bancorp Inc. Huntington National Bank Level One Bancorp Inc. Lotus Bancorp Inc. Michigan Commerce Bank Northern Trust Bank Paramount Bancorp Inc. PSB Group Inc. Sterling Bank & Trust FSB University Bancorp Inc. 11/2011 Website No Website Page8

9 Major Money Managers in Metro Detroit Company Advance Capital Management Ambassador Capital Management Bloom Asset Management Inc. Comerica Asset Management Group DeRoy & Devereaux Private Investment Counsel Inc. Flexible Plan Investments Ltd. Freedom One Financial Group J.P. Morgan Private Wealth Management LS Investment Advisors LLC Mainstay Capital Management LLC MBT Wealth Management Group Munder Capital Management NorthPointe Capital LLC Plante Moran Financial Advisors Portfolio Solutions LLC Retirement Income Solutions Inc. Schwartz Investment Counsel Inc. Seizert Capital Partners Sigma Planning Corp. Telemus Capital Partners LLC 11/2011 Website Risadvisory.com Page9

10 Investment Banking Firms in Metro Detroit Company Website Amherst Partners Angle Advisors Investment Banking, LLC Comerica Bank Donnelly Penman & Partners P & M Corporate Finance/Plante & Moran Quarton Partners/Leonard & Co. Inc Page10

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