Education is one of the fastest growing ‘industries’ in the world. Parents want heir children to be well-educated and well-placed. The number of degree and post-graduates courses in any particular branch, have multiplied over the years. Finance and accounting is directly related to commercial activities. With the growth of industrial establishments, commercial activities and the banking institutions, the scope of jobs for finance scholars has increased. An expert in financial matters is in demand everywhere. The real one can dictate terms to his prospective employers and can write his own salary cheque. If you are a graduate in any one of the innumerable courses available on the subject of finance that does not mean that your knowledge is exclusive. Many subjects are magnetically interlinked to each other, that you are expected to have a working knowledge about them also. Without such understanding, your productivity will not be perfect and up to he mark. Economics, Human Resources Management and International Business, interact with each other in tandem.
“The curriculum of the B.B.A. in Finance degree program exposes students to the theory of finance and its application to decision making, financial management, investments and financial institutions. Financial tools are introduced and applied to problem solving in a variety of areas including financial markets and institutions, financial management, capital budgeting, international financial management, portfolio theory, derivatives and risk. management.”(www.sba.luc.edu)
The Department of Finance at Loyola University of Chicago is one of the finest in the area of finance. It has maintained excellent standards both in teaching and research, theory and practical. What is theory after all? It is other man’s experience. Even when we say, that it is the product of research, the research procedure, products and results relate to actual experience of an individual or groups. That is the reason, why the universities invite guest speakers, from consulting firms, non-profit organizations, public and private enterprises, so that the students can derive benefit from their practical experience. The faculty also keeps track of the current developments, and they avail benefit of in-service training program arranged for updating their knowledge. Academic-wise, all of them hold doctorate, in specialized streams.
This innocent-looking word Finance has many course-offerings. To name a few, Personal Finance, Futures, Business Finance, Investments, Banking, Money and Capital Markets, Emerging Markets, Advanced Business Finance, Security Analysis, Real Estate Investment & Finance, Portfolio Management, Financial Institutions, Working Capital Management, Applied Portfolio Management, International Finance Management, Cases in Corporate Finance, Principals of Insurance and Risk Management.
When you armed with a specialized degree in finance, good jobs are there for the asking. For a really outstanding candidate, upper bracket offerings are made in the campus interview. Top organizations conduct interviews during the last semester of the final year, when the students are ready to take potshots at their career goals. Even for those who have their own business ambitions, it is better to have employment experience for a couple of years. As for your future, something will go according to your plans, sometimes your destiny has some other plans, but it is certain that your hard work will be appreciated everywhere and you are bound to get rewards for your labor.
There is a prescribed procedure to reach the threshold of the World Bank. The World Bank Group’s Careers site provides details about submitting the resume on-line. All the particulars relating to a particular post such as job description and selection criteria is given at the site. You receive proper acknowledgement for your application. Since the selection procedure is very competitive, and the vacancies limited, The World Bank authorities, as a rule, do not enter into correspondence with individual applicants, unless you have been short listed.
If you an expert in a particular area, you can also join the World Bank Organization as a consultant. The Bank uses a number of consulting services from both individuals and consulting firms. In the consulting area, the offer may be at both the places—at bank headquarters in Washington, DC, or in country offices. The consultancy services may include project identification, appraisal, evaluation, analytical and advisory activities, research and training etc.
Whereas working in Organizations like World Bank is a perfect idea, from the long range point of view, it is better to have the experience of working in Commercial Banks. Here you are exposed to all types of situations, you deal with hundreds of customers daily, do small and big projects related to financing industries, you actively interact with businessmen, learn about the latest opportunities in the industries, the flop areas etc. Working in a commercial bank gives you the versatile experience of banking transactions. The Central Bank of any country and organizations like the World Bank are the ivory towers, jobs there have prestige, high salaries and perquisites, but in the commercial banking area you evolve as a tough financial expert.
The best part of the finance education at University of Chicago, is that you don’t need to worry from the point of view of financing the study. There are scholarship/loan schemes that suit one and all. In the loan schemes, repayment will start after you are gainfully employed on completing your scholastic pursuit and the rate of interest is very moderate.
Another important aspect which you need to know while applying financial studies to your career is, in the initial stages of the career, you can hop from one job to another. But it mainly depends upon the type of organization you are working. Job satisfaction, good working conditions, amiable colleagues and seniors—if you get all these in any organization, you need to think deep, before you decide to the switch-over. Finance is the subject, though very good from the point of view of pay-packet, it intensely taxes your brain-power. So, your career goals need to take all these factors into consideration, for good finance career must mean good lifestyle also viewed from all angles.
www.sba.luc.edu/Loyola University Chicago, article: Academics, Finance, Retrieved on 10-3-2007.