Careers in Finance

When we talk about careers in finance options to choose from simply become unlimited. The best part about studying finance is that you can get a job in any part of the world so you will not be geographically restricted in any way.

out of several options in finance career available the best one yet is none other than banking. Annually most of the finance graduates get into banks to peruse a challenging career. The reason why banking is such a popular place for finance graduates is because the variety of positions available you can get into commercial banking, investment banking, financial planning, corporate financing or simple money management. Each one of these positions offers you great chance to climb the ladder of success smoothly.

Finance is one field that never goes out of demand in fact the need of employers in finance department just keeps on growing every year by a large number. The reason being as long as the money making process will be on going in the world, financiers will be required to handle the cash flow of the companies. To be successful financier you need to have the power of thinking strategically. The better you are able to understand complicated matters quickly the better financial decisions you will be able to make. You also need to have certain amount of leadership qualities, have proper knowledge of risk management and possess firm problem solving skills.

Since we have already talked about how finance can take you to all corners of the world it will greatly add to your benefit if you know two to three languages. You should be careful about the degree you choose because it will define your career path. With an Associates Degree you will very lucky if you end up at a good job. Where as Bachelor’s Degree can get you jobs in accounting firms or banking sector. If you wish to earn above $ 30,000 annually then you should go for Masters Degree as it will take you to heights. With a Bachelors Degree you can earn somewhere below $ 40,000 and above $ 25,000.

Every degree comes with certain courses that are mandatory for you to choose. Some of the courses that you will studying nearly in all the degrees are Management and Leadership, Human Resource Management, Finance and Accounting, Investment Management, Public Finance, Non Profit Finance, Risk Management and Marketing and Sales. It is not necessary that every degree offers these courses it will largely depend upon which university and degree you opt for.

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The Importance of Making Work Personal for Finance Graduates

The cold numbers and profit-first logic of the finance world can make finance graduates feel like robots. Financial firms place a premium on dispassionate advising and an adherence to regulations to protect the investments of clients big and small. While it is important to maintain an impeccable standard of performance, finance graduates need to make some aspects of their jobs personal to provide the best service possible.

Finance graduates need to take a micro level approach to their job on occasion to stay grounded. The temptation for many graduates is to look at commission numbers and the portfolios of larger clients to increase efficiency on the job. An occasional review of stock holdings, investments and the financial overview for a young family or a small-scale investor can bring the importance of doing a good job home for overwhelmed graduates.

There is a way for finance graduates to make work personal with each document completed and each trade managed. Finance graduates can think about each action in terms of its reflectivity of their own values. A financial advisor with knowledge of a risky new venture can ask if a more conservative trade would be appropriate for a client. Quarterly and annual adjustments of financial portfolios can be viewed in light of the potential benefits for the account holder.

A graduate also needs to look at the practices and missions of his employer during an evaluation of daily practices. It is impossible for a finance graduate to follow self-imposed ethics and best practices guidelines when an employer is not providing adequate resources. Finance graduates need to take advantage of every opportunity to express their opinion in order to shape the direction of their employer. A combination of advisory positions, informal comments in meetings and official comments through internal documents ensures professional comfort for finance graduates.

The most important way for finance graduates to make work personal is to look at long term goals. Graduates need to think about their desired destination in five, ten and twenty years as they help clients find the best investments. A financial graduate is best served to treat customers with respect and show an unimpeachable work ethic to employers in order to build a strong reputation. Finance graduates need to work for the job they want while they work in their present job to meet their professional goals.

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Current Real Estate News and Highlights

Some current real estate issues coming across my desk. First, as we all are probably aware, credit has been extremely tight the pasts few years, especially for borrowers in the jumbo arena. Most creditworthy borrowers have struggled to secure home loans of more than $729,750. This is the cutoff for conventional conforming loans backed by Fannie Mae and Freddie Mac.

As of July, the number of lenders offering jumbo loans has jumped, and the typical rate as decreased from almost 7 percent a year ago to about 5.5 percent. Stats as of this summer have sales of existing homes priced at $750,000 and above jumping 30 percent.

Obviously this is good news for buyers of Fairfax real estate and homes throughout Northern Virginia which have a higher average sales price than most of the country.

In other news, those homeowners who are underwater, who owe more than their home is worth, are engaging in strategic defaults. These are defaults by buyers who have the capacity to pay but don’t, or who don’t complete a workout alternative in good faith.

Violators will be ineligible for another Fannie Mae-backed loan for seven years, and will also seek deficiency judgments against borrowers if allowed by state law. This applies to borrowers of Fannie Mae-backed mortgages who engage in this practice.

Finally, there’s been increased talk among ‘experts’ about the need to eliminate or trim the mortgage interest deduction. Let me just give you a few stats in the hopes that you’re prepared to yell at your representatives at how stupid this idea is should it gain more momentum.

First, homeowners already pay 80 to 90 percent of the income tax in our country, and among those who claim the mortgage interest deduction, almost two-thirds are middle-income earners. This move would hurt households who are the pillars of the federal income tax revenue. Home values would also drop 15 percent as buyers discount the value of the deduction in their purchase offers.

The government takes enough of our money. Don’t let them take away the few tax deductions we are afforded.

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How to Read Between the Lines of Real Estate News

We all need to stop, think and let our emotions subside. Real Estate articles and headlines continually press the housing bottom issue with catch phrases, buzz words and faulty property data from public records that stimulate irrational responses. But along with Real Estate being Emotional, it is Cyclical and Seasonal as well. As the public, it is our job to filter through the news that is being presented to us. But sometimes it gets tricky. Here are some tips on how to read between the lines of real estate.

Read the Entire Article: I know it sounds like common sense,  but  most readers fail to read an entire article and are only left with the impression of the headline and the first two paragraphs. Article headlines are deliberately written in a way to draw readers in, despite whether the headline makes any sense or not.  Since most real estate articles are written like feature stories in a narrative manner, the real value of the story - or the nut graph - doesn’t appear until 3 or 4 paragraphs down. Usually, this is where the headline is either proven to be false, exaggerated or irrelevant.

Watch For Buzz Words: When words like “soar”  ”plunge” and “boom” are used, watch out. Look at the data being presented (if there is any) and determine if these words hold any merit. If home sales had an uptick of 1% month-over-month,  in a seasonal cycle with an $8,000 tax credit incentive, is “soar” the word to be using? The same goes with economists “forecast” “predictions” and “projections”. If construction was projected to drop 17% and it only dropped 15%, we are not doing “better than expected.” All of these cases are subjective. Don’t get overwhelmed with emotional expressions and confusing jargon. If the validity of the writing is in question, then the validity of the data can be questioned as well.

Use More Than One Source: If an article is making claims without multiple accurate and sufficient sources of data to support it, counter the report with another of the same topic. Usually you will find two different spins on the same data reports  everyday. Our recent article on the Real Estate Mania of the Case-Shiller Index touched on this situation. As the old saying goes, there are three sides to a story; one side and the opposing side, with the Truth lying somewhere nestled in the middle.

Do Your Own Research: What good is it to receive information if we don’t bother to determine our own interpretation? People share stories to get another viewpoint. If you spit out verbatim to a person sharing a story or experience, you haven’t added any value to their perspective. After viewing two opposing viewpoints, search the web for the direct source of data. See how they spin it, look closely at that data and ask yourself questions for clarity. If the clarity you’re looking for can’t be achieved, then something is wrong.

See What Others Think: Individuals are smart, it’s only People who suffer from lack of reasoning and understanding. With the surge of Social Media, it is easier than ever to see what other people think on a particular situation. Many times, a bogus article is flagged right in the comment section following it. Gather the opinions of your peers in the comments and scour the social media networks for recent conversations.

As we head into the fall and winter seasons of Real Estate, it is important to decipher the news being fed to us everyday. Even prominent news sources can’t be taken for face value. Stop, think and let the emotions subside.

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