Related Career Categories

• Credit Counselor
• Finance Manager
• Financial Advisor
• Financial Analyst
• Financial Planner
• Pension Analyst

School and Career Surprises: Tips From People on the Job

School: "I was surprised that because I was at such a small school that I received such individual attention. The faculty knew the students and had a much closer relationship with them than in high school."

Career: "Starting with the mid-eighties the changes in technology happened so rapidly that continuing education was a must. The college graduates entering the job market had many skills that the existing staff did not have."

Best & Worst Things About This Career

"I really enjoy traveling to different places throughout the country to visit the properties in my portfolio as well as devising problem-solving strategies to improve performance. There is nothing better in business than turning a non-performing asset into a success story. Unfortunately, my job also requires that I review tax returns generated by my properties on an annual basis. I find this rather tedious since I'm not really interested in taxes, but it's truly a critical part of my job to ensure my portfolio is providing the necessary returns to our investors."

"Best part of the job is knowing I'm making a positive contribution to the company when I see the opportunity to save money or help in improving the employees benefits such as switching from simple retirement plan to a 401k plan. Worst part of the job is dealing with payroll problems which happens every so often since we call in payroll to an outside service. I have to depend on someone else to get it right and then sometimes have to tell them why it is wrong and direct them on how to correct it. It can take a few tries to correct the problem which is frustrating to me. Another negative part of my job is that I work pretty much alone; in fact I can do a lot of my work right from home. This can be appealing to one staying home with children but you tend to be isolated from the rest of the office happenings."

"The best part of my job is the constant changes in health care reimbursement for nursing care centers. These changes represent constant challenges in my position and keep my job from being boring and dull. Sometimes, I have to implement these changes into our financial and clinical software and then train the staff members. The worst part of my job is the long hours preparing for the year-end audit. Sometimes, I have to work weekends to complete all my work."

"I am detailed-oriented so I enjoy it when debits equal credits. It is very satisfying at the end of the day to realize that you have helped your company function in a clear and precise way. Making sure that cash flow is able to support your business and ensure that your employees are paid correctly and on time is a vital concern. We have a fantastic staff and working as a team with all the agents and other managers is a constant source of satisfaction. Calling clients who are behind with their payments is the duty that's most distasteful to me."

"The best part is working with my business partners - by working with them, you learn more about the business and can take your skills and apply them with real relevance. Anyone can read a financial report - but what is important is what does it mean for our business. Where are the areas we can improve, what is the overlying strategy. Sometimes financially a decision doesn't seem to make sense from a pure profit perspective - but if you understand the business and the strategy, you can make a better decision. Worst part - getting non-financial people to understand the what it means in the big picture and not just their small subsection of the world."

"The best parts of my job are seeing clients meet their goals. In other words we make them money so they can send their kids to college or so they can afford to retire and no longer have to work. It is fulfilling to see that we have selected the right stocks for clients and that our hard work in analyzing the areas to invest have paid off. The worst part of my job is the stress that is involved when the stock market is going down and temporarily clients may be losing money."

"I love being able to help my consultants. I am a career coach to them, talking to them about what their short- and long-term goals are, how to achieve those goals, and what training or classes they need to take to get to their goals. My company helps people prepare for retirement, which is a very fulfilling goal to help people understand and learn how to meet. By helping my consultants be more effective at their jobs, I feel that I help educate more people about this sometimes confusing, and always important, aspect of their future. What I don't like is the paperwork. There are lots of legal formalities and documentation that needs to get done, and much of it is tedious and boring. Some managers like the structure and detail of the paperwork, but I am much more of a people-oriented manager. I really enjoy working directly with the consultants, and I don't like all the paperwork that is involved."

"One of the best parts is that my work is very intellectually stimulating. I enjoy trying to understand the world economy and having to think about what is causing things to get better or worse in different parts of the world. I also get to do a fair amount of travel to meet with clients and to do research. The worst part is that sometimes I make wrong decisions that look poorly on me. For example, suppose I invest heavily in stocks because I thought the economy was going to do very well, but then there was a recession and stocks lost value. It feels bad to know that my decision cost people money, and it can also be tough having to explain my poor decisions to clients after the fact."

Tips for Succeeding in This Career

"The great thing about the real estate business is that there are so many areas you can focus on. Whether it be sales, development, management, or the financial side of things, there are careers for every interest. The main advice I would give to someone interested in real estate would be to learn as much as possible about accounting, finance and law, which play a role in every aspect of real estate. Someone coming out of college with a strong understanding of these disciplines will make himself very marketable to real estate firms."

"Don't be afraid to ask questions and let the person in charge know this is the first time you are doing something and may need a little direction. Then do it to the best of your ability and don't be afraid to make mistakes. No one is perfect. Learn from your mistakes and try to be involved in as many different areas as possible. I learned the inside operations of a company through internal auditting, and then learned the reporting side from my public accounting experience. Some of my odd jobs allowed me to learn about computers since I left the work force when computers were just coming into play in the office setting. Then when I reentered the work force as the chief accountant, after seeking some help from the company's outside accountant I was fairly confident I could do it. But I am always learning along the way as I have done in changing from the simple retirement plan to the 401K plan. I was told by our outside accountant that it was much more involved, and it certainly is, but the rewards to the employees and the owners, I have found to outweigh the negatives."

"1. You have to be able to multi-task on a regular basis. On a any given day, for example, you must be able to manage staff problems, attend various meetings and prepare numerous accounting schedules. 2. You have to be organized to function in this position. You have to keep track of various deadlines and commitments which are important to the finance committee and the auditors. 3. You must be able to work independently, since you will be responsible for the overall financial condition of the organization. And you be able to delegate duties and follow through on various projects."

"Finance is a very large and varied field. I was able to begin as a part-time cashier in a grocery store and was soon asked to work as a cash office assistant when I attended college. This gave me hands-on experience in dealing with the public and working with figures. An accounting degree will lead to many opportunities and, depending on your interests, you can go in many different directions. Travel has always been a passion of mine so that is where I decided to concentrate."

"Strong computer skills are essential. You learn many tricks and tips from others, but if you don't know the basics - you are starting behind the curve. Excel & Access are critical tools to to data mine and provide the best support to the business. Don't wait for someone to teach you the business - take the initiative to study the company's products, mission, marketing campaign. Who are the competitors and what are they doing. Learn to write in bullet points - get to the key concept without burying it in many words. Lots of words aren't always better - be concise. People don't have the time to decipher through paragraphs upon paragraphs to get the point of what you are asking or stating. Also, stop yourself from the writing emails in "texting" language. Text shorthand is not appropriate and undermines your credibility in a business environment. Make the most of internships - ask questions, take notes and study them."

"If I were to give any advice as to someone pursuing my career, I would strongly suggest reading the newspapers such as the Boston Globe and the Wall Street Journal every day. I strongly suggest that they become very familiar with what is going on in the world. In addition, I would suggest doing an internship at a local investment firm which would be very helpful in getting some real world background experience. Further, while in college I would suggest studying business area such as economics, and finance as areas of focus."

"1) Take lots of courses on how to effectively manage and motivate people. It is not an easy task to be able to motivate a team of different individuals with different personalities, needs, goals, etc. 2) Get as many financial certifications as you can. The more you know about financial planning, the better you will be able to answer the many questions that come up. 3) Set aside time to do the paperwork. Much of it is due at specific times, and it's easy to procrastinate and wait until the last day. This will only make it harder to get done and it makes you look sloppy."

"To do well in this business, you clearly need to have studied economics and finance. But it's just as important to understand something about human psychology. Markets are not machines -- they consist of people trading with each other. And though people are pretty rational most of the time when it comes to making decisions about money (that's where the knowledge of economics and finance comes in), they are also driven by a host of emotional traits that they may not even be aware of. This is what the field of "behavioral finance" is all about, and understanding what some of those other factors are that drive people's behavior is crucial to successful investing. Finally, you need to be able to communicate clearly, both verbally and in writing. When you start out in the business, you will usually be an analyst, and you will need to prepare written reports about companies. You will also likely need to make presentations to portfolio managers or to clients, so the ability to speak articulately is important."