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Finance

Finance. Fisher College of Business Undergraduate Specialization. Overview. What is Finance? Preparation Finance at Fisher Finance Job Titles and Companies Finance Internships Professional Certifications Graduate School and Professional Options Finance Salaries and Outlook

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Finance

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  1. Finance Fisher College of Business Undergraduate Specialization

  2. Overview • What is Finance? • Preparation • Finance at Fisher • Finance Job Titles and Companies • Finance Internships • Professional Certifications • Graduate School and Professional Options • Finance Salaries and Outlook • Student and Professional Organizations • Study Abroad • Finance Department Contact Information Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  3. What is Finance? • Finance is the study of how to allocate scarce resources over time, so as to satisfy people’s ‘consumption preferences’ • Finance careers can be organized in three broad categories: • Banking • Insurance • Securities and Commodities Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  4. More On Finance… • In addition to receiving broad training in general business management, students specializing in Finance are especially prepared for the increasingly important area of financial management in all types of business including financial institutions • The financial officer has responsibility in such activities as funds and cost analysis, investments, the formulating of credit, and other financial operating policies Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  5. Five Reasons to Study Finance • To manage your personal resources • To deal with the world of Business • To pursue interesting and rewarding career opportunities • To make informed public choices as a citizen • To expand your mind Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  6. Other Finance-Related Specializations Offered • Real Estate & Urban Analysis • Opportunities for employment include commercial banks, savings and loan companies, insurance companies, mortgage bankers, and private appraisal and consulting firms. Real estate building and subdividing organizations, property management firms, and brokerage offices also offer employment. Many graduates eventually organize their own business in one of these fields. • Risk Management & Insurance • Specific career opportunities within the insurance industry include underwriters, claims administrators, information systems experts, investment managers, brokers, and sales agents. Outside the insurance industry, knowledge from the fields of Risk Management and Insurance is needed by Employee Benefit Managers, Financial Planners, Consultants, and Risk Managers. • Business Law Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  7. General Preparation • A good high school background recommended in: • Mathematics • Oral/written communication • Computer experience • A bachelor’s degree is considered essential for entry into the field of finance in positions of promise • Moreover, college graduates can usually expect additional training by the employer to familiarize them with the firm’s operating policies • Those entering the field of finance should have a deep interest in understanding financial structures and financial analysis, and patience with detail • In addition, many positions in this field require an ability for working with people, both subordinates and customers, in discharging the responsibilities of banking and other financial institutions Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  8. Finance at Fisher • Undergraduate Ranking • 9th Nationally - U.S. News and World Report (2004) Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  9. Finance Curriculum • Specific information about the Finance Specialization can be found on the Fisher website under: • Current Undergraduates • Academics and Advising • Courses and Specializations • There you will find a complete list of GEC, core, and specialization requirements as a downloadable pdf Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  10. Competitive Admissions • Information concerning application to the Finance specialization is also available on the web under: • Admission to Specialization • Admission to the Finance Specialization largely depends on space availability Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  11. Honors Options • Honors Program • Business Administration Honors Cohort Program • Individualized Business Administration Honors Contract Program • More information go to fisher.osu.edu/honors/ Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  12. Finance Careers • Specific career opportunities include financial management in manufacturing and distributing firms, commercial bank management, savings and loan management, stock brokerage, insurance, security analysis, and trust management • This specialization serves as an excellent foundation for graduate study in business and for the study of law. In addition to career opportunities, the finance curriculum is designed to aid the student in the proper handling of his own financial and investment problems • Students may find career opportunities in financial management in manufacturing and distributing firms, commercial banks, savings and loan associations, stock brokerage firms, investment banks, and insurance and trust companies Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  13. Banking Careers • Focus on providing loans, credit, and payment services to both individual and large institutional customers Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  14. Banking Job Titles • Loan Officers, Financial Managers, and Trust Officers usually have at least a college degree if not a professional or graduate degree • Bank Tellers and Clerks are not required to have a college degree but need special training Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  15. Banking Training • Most banks have internal training programs on procedures & regulations • Tellers and Clerks often attend specialized training on banking regulations through 3 organizations: • The American Institute of Banking • American Bankers Association • The Institute of Financial Education Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  16. The Outlook for Banking • 3% employment growth, slower than the overall economy (15%) • Banks will become more automated and rely more on ATMs and Internet Banking – directly effecting customer service positions • Areas of growth – customer call centers, trust officers to assist an aging population Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  17. Insurance Careers • Risk Managers - develop policies the insurance company follows when making decisions regarding claims • Sales Managers - sell insurance products, assist clients with policy questions, supervise sales staff • Underwriters - review applications for insurance and the level of risk involved in agreeing to issue a policy and what premiums should be paid Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  18. Insurance Training • Most positions require a bachelors degree • Actuaries must pass a series of exams over a period of 5 to 10 years to become fully qualified • Special training is provided by the insurance company • People are typically promoted from within the organization Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  19. The Outlook for Insurance Careers • Overall slow growth due to downsizing of large companies, computerization, and a trend of more direct mail and telephone sales campaigns • Bright spot – financial services and products sales Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  20. Securities Careers • Brokerage Clerks – daily operations and processing of paperwork related to tracking performance of investments • Financial Services Sales (Broker) – buy and sell investments, spend a lot of their time marketing their services in order to establish a client base • Financial Planners – advise clients on investments, investing for retirement, tax planning, and employee benefits; also buy and sell stock, mutual funds, bonds, annuities Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  21. Securities Careers • Investment Banker – make recommendations about potential profits from investments in specific companies by reviewing financial records and evaluating market trends; also determine market value for stocks • Portfolio Manager – manage investments for mutual funds, pension funds, trust funds, and investments for individuals with large amounts of money Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  22. Securities Training • Overall, workers are well educated and highly trained • A Series 7 license is required to sell securities • The National Assoc. of Securities Dealers conducts the testing and licensing • Financial Planners earn a Certified Financial Planning (CFP) designation • Most higher level positions (investment banking) required MBA degrees most often from the best business schools Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  23. The Outlook for Securities • Growth projection of 40% • Growth fueled by: • More people investing in the stock market • More people seeking investment advice • More knowledgeable analysts focused on the complex global market Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  24. Specific Types of Finance Jobs • Financial Management in manufacturing and distribution firms • Commercial Bank Management • Savings and Loan Management • Stoke Brokerage • Insurance • Security Analysis • Trust Management Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  25. Abbott Laboratories American Express American Enterprise Institute Arthur Anderson Ernst and Young Frito – Lay Genentech Hallmark cards Hewlette - Packard Inroads Intel J.P.Morgan &Co John Wiley & Sons Kraft Foods Inc. Liz Claiborne Lucas Digital Merrill Lynch Microsoft National Aeronautics & Space Administration Finance Hiring Companies Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  26. Sony Music Entertainment 3M Volkswagen The wall street Journal Weyerhaeuser The White House NIKE QVC Procter & Gamble Raychem Reebok Sony Music Entertainment 3M Volkswagen The wall street Journal Weyerhaeuser The White House Finance Hiring Companies Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  27. Abbott Laboratories Agora, Inc. AIESEC Andy Warhol Museum Anheuser- Busch Arthur Anderson Baltimore Zoo Bechtel Bertelsmann Music Group Boston University CARE Carter Center Central Intelligence Agency Chicago Children’s Museum Citizen’s Network for foreign Affairs City of New York/Parks & Recreation Congressional Research Service Coro Foundation Companies Offering Internships Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  28. Crown Capital Dublin Internships, Ireland Edelman Worldwide Public Relations Exxon Mobile Ford Motor company Gesher Summer Internship program Habitat for Humanity International Hallmark Cards Home Box Office IMG Inroads Jim Henson Company Kennedy Center Mattel Toys MetLife Miller Brewing Company United States Securities Walt Disney World Companies Offering Internships Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  29. Financial Certifications • Certified Cash Manager (CCM) • Certified in Financial Management (CFM) • Chartered Financial Analyst Designation (CFA) • Certified Financial Planner (CFP) Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  30. Graduate and Professional School Options • Master of Business Administration with a Major in Finance • Master of Arts in Finance • Doctorate of Philosophy Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  31. Finance Salaries • Fisher College of Business (2002-2003) • Full-time $38,872 • Intern $2,199/month • NACE Salary Survey (Spring 2004) • Full-time $40,718 Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  32. Finance Salaries by Field • Accounting (Private) $ 42,392 • Accounting (Public) $ 41,399 • Auditing (Private) $ 41,528 • Auditing (Public) $ 43,591 • Commercial Banking (Consumer) $ 33,092 • Commercial Banking (Lending) $ 34,423 • Financial /Treasury Analysis $ 43,395 • Insurance Claims $ 30,741 • Insurance Underwriting $ 31,714 • Investment Banking (Corporate Finance) $ 47,824 • Investment Banking (Mergers & Acquis.) $ 55,000 • Investment Banking (Real Estate) $ 41,417 • Investment Banking (Sales & Trading) $ 49,364 • Portfolio Management/Brokerage $ 30,000 • (From the Spring 2004 NACE Salary Survey) Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  33. General Finance Outlook • The employment outlook in this field is good • Increasing competition has forced firms to rely increasingly on efficiency in financial matters to insure an adequate profit • The opportunities in the management of banks and other financial institutions are many, and are expected to increase Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  34. Student Organizations • Undergraduate Finance Association (UFA) • http://student.cob.ohio-state.edu/ufa/index.htm • Buckeye Capital Investors • http://student.cob.ohio-state.edu/bci/index.htm • Undergraduate Business Student Forum • http://student.cob.ohio-state.edu/ubsf/ Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  35. What Does the Undergraduate Finance Association Do? • Helps students in learning about job opportunities in the field of finance • Students can meet professionals in a casual and relaxed environment • Provide the opportunity to post resumes • Get the recruiters and other speakers talk to the students at various occasions Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  36. Professional Organizations • American Finance Association • www.blackwellpub.com • Association of Finance & Insurance Professionals • www.afip.com • Financial Management Association • www.fma.org Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  37. Study Abroad & Exchange Contacts • CIBER (Center for International Business and Research) • http://fisher.osu.edu/international/ciber/index.html • Office of International Education (OSU) • http://oie.osu.edu/ • OIE has many other opportunities for business and non-business opportunities to supplement the Fisher curriculum Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  38. Study Abroad & Exchange Programs (CIBER) • Copenhagen Business School, Denmark • Technische Universitat Dresden, Germany • Nantes Summer School, France • Trinity College, Dublin, Ireland • Quinn School of Business, Dublin, Ireland • London School of Economics, England • Instituto Technologico y de Estudios Superiores de Monterrey, Mexico • Hong Kong University of Science and Technology • Singapore Management University • Curtin School of Business, Perth, Australia Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  39. Max M. Fisher College of Business • Academic Department: Finance • Ohio State University • 700 Fisher Hall • 2100 Neil Ave • Columbus, OH 43210-1144 • (614) 292-5026 • http://fisher.osu.edu/fin/finance.html Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

  40. fisher.osu.edu Fisher logo http://fisher.osu.edu Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-8616 fisher.osu.edu/career

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