|Financial Planning- Hottest Job in a Cool Economy |
It might seem counter intuitive that financial planners do well at a time when so many people's finances are in a shambles, but it's true. Millions of baby boomers are hitting retirement age, and many need help managing their money to ensure their financial assets will carry them through their golden years. Many have seen the value of their investments fall substantially due to the slumping economy, making financial planning more important than ever.
Career Profile: What do Financial Analyst & Personal Accountants do?
Financial analysts and personal accountants work to interpret complicated financial information, providing guidance to individuals and businesses that need a solid financial plan. Analysts generally specialize in a particular area of expertise, such as a region, specific industry, or product. Personal accountants scale down their expertise to the individual level. Estate planning, college education funding, and tax advice are all within the scope of a personal financial advisor.
Financial analysts and personal accountants should be able to work well in teams, be a critical thinker, and have a facility with numbers and the financial insight to interpret data in ways that can be easily understood.
A Day in the Life of Financial Analysts & Personal Accountants
An ordinary work day for financial analysts and personal accountants can include working in a standard office or branching out to work from home, traveling to meet investors and potential clients, or scheduling weekend meetings.
Personal accountants often teach evening classes or seminars in the hopes of bringing in more business and broadening their client base. Personal accountants working in financial institutions are more likely to work a traditional 40-hour week, although they can provide off-hour and weekend access to high-profile clients.
Financial Analysts & Personal Accountants Training and Education
Education is an important component for financial analysts and personal financial accountants. A bachelor's degree in finance, business administration, accounting, economics, or statistics is recommended, and some competitive careers can require a master's degree or certification. Typical coursework for financial analysts and personal accountants includes accounting fundamentals, business valuation, international financial management, and concepts of financial reporting. However after speaking with many of the top financial planning companies they say a willingness to help people, the ability to effectively communicate & solid work ethic are actually the qualities possessed by the top performers.
Financial analyst can apply for the Chartered Financial Analyst (CFA) certification, personal financial advisors can apply for the Certified Financial Planner (CFP) credential, and personal accountants can seek a Certified Public Accountant (CPA) certification.
Employment & Outlook for Financial Analysts & Personal Accountants
A growing retired population with increased investment potential is expected to create substantial growth for financial analysts and personal financial accountants. The Bureau of Labor Statistics (BLS) predicts a 37 percent increase in overall employment through 2016 for these specialized financial workers, or 544,000 new jobs total.
Despite rosy growth projections, competition for these positions is expected to be keen and limited to those with formal training. A strong education background is essential and an MBA or formal certification is recommended. Strong selling and communication skills are also important, particularly for those considering self-employment.
Financial Analysts & Personal Accountants Salary
Financial analysts saw mean annual earnings of $81,700 in 2007, according to the BLS. That same year, personal financial advisors earned $89,220. Financial investment and management industries had high levels of employment for both occupations, as did securities and commodity contracts intermediation, and brokerages. New York was the top-paying state for both occupations, with workers earning mean wages over six figures.
Check out these great Financial Planning Opportunities to get you started:
Northwestern Mutual http://www.thecorporateplaybook.com/employer.php?id=28359
Ameriprise Financial http://www.thecorporateplaybook.com/employer.php?id=13819
Western & Southern http://www.thecorporateplaybook.com/employer.php?id=25687
Bureau of Labor Statistics, Financial Analysts and Personal Financial Advisors
NC State College of Management
Brett Freeman http://collegegrad.com/articles/five-hot-jobs.shtml
Video Is Where Its At, Tell Us Your Story!!
The Corporate Playbook wants to make sure that you are aware of some of the newest tools and trends in the industry that are available to you on our networkÖ COMPANY VIDEOS and VIDEO RESUMES!!!
According to a recent article provided by Kevin Wheeler, President of Global Learning Resources, Inc**, research shows there are no legal issues in using video resumes; they are no more discriminatory than a face-to-face interview and may actually help to showcase your communication skills and other positive traits. They can speed up the pre-screening process for our companies and recruiters and may even eliminate the need for the number of interviews you will be subject to during the career search process.
If you are a recent grad, just entering the job market, you may prefer to create a video resume as it reflects the media with which you are most comfortable. We can also easily imagine a time, in the near future, when the face-to-face interview will be replaced with a live, virtual interview, perhaps with the hiring manager and several others present virtually. The use of video lowers costs, expands the number of people who can participate in an interview, allows asynchronous viewing and makes it more convenient for you as the candidate.
Letís face it: YouTube has changed the way we view movies, videos and more importantly, it has changed the way we use the internet. YouTube averages about 71 million viewers monthly, just in the U.S., and its rivals are also doing well and growing. This indicates a decisive trend: more and more of us are getting information and education from video, rather than just from words ñ whether in print or online.
We have already seen video gaining in popularity and importance in recruiting. All top-tier career sites incorporate both pictures and video. Usually the videos are of employees talking about their jobs, but some include campus tours or chats with the CEO or a hiring manager.
Here are two ways The Corporate Playbook is using video to help with your search:
1. Branding and position promotion. Many of our organizations are including videos that showcase their organization or promote a specific job or group of jobs to you as a prospective candidate. For example: ADP, Guardian, Enterprise, Velocity Sports Peformance and many others all incorporate at least one video on their careersí homepage. Many other organizations include clips of chats with employees or even take you on a guided tour of the company. Just as the internet allowed sites such as Amazon to provide more product information and user ratings, you are now starting to expect the same from career sites. The practice of incorporating videos about the organization and about available positions will expand over the next few years as we expect a much higher level of information and awareness than we did even two years ago.
2. Resumes. The practice of you submitting your resumes as video clips is just beginning. From as far back as the first CD/ROMS, candidates have been intrigued by the idea of submitting their resume in a video format. Video has advantages ñ it allows you to show your communication skills and it is often easier for you to be expressive about past achievements when telling a story to a camera. Although these are not a substitute for an interview, they are a way to pre-screen candidates and develop a more complete picture than one gets from a written resume. Take advantage of this new tool on The Corporate Playbook profile page under "Video Studio", the video resume may be a good way to differentiate yourself and provide you an advantage when you apply. If you are a current athlete or recent grad who lacks in-depth experience but feel you have other great qualities, you might rather put together a short video than write a resume.
Over the next few years, all recruiters will come to embrace and more effectively use video to brand, inform candidates, receive resumes, provide information to candidates and hiring managers and provide on boarding for new employees.
Are you ready to join in the revolution, start by adding your video today!
**Kevin Wheeler, President of Global Learning Resources, Inc is a globally-known speaker, author and consultant in human capital acquisition and development. His extensive career, global client base and research affiliations make GLR a leading provider of both strategy and process. GLR focuses on assisting firms architect human capital strategies, guiding them through comprehensive talent acquisition processes and procedures. GLRís clients include organizations of all sizes including Sun Microsystems, Eli Lilly, PricewaterhouseCoopers and many others.