Finance Career Options - Career Planning and Placement (2024)

Office of Career Planning and Placement

What is finance?

Finance is the management of money which includes investing, borrowing, lending, budgeting, saving and forecasting. There are four main areas of finance: banks, institutions, public accounting and corporate.

Courses within the finance major provide a solid background in many subjects including:

  • Financial markets and intermediaries
  • Measuring the risk and return of investments
  • Financial management in international money and capital markets
  • Functional areas of bank management and related financial institutions
  • Recent developments in futures and options

Review the finance program page.

Traditional career titles

Entry-level titles in finance

Top industries in finance

  • Stockbroker
  • Budget analyst
  • Credit analyst
  • Financial analyst
  • Financial planner
  • Investment banker
  • Financial auditor
  • Financial analyst
  • Personal financial advisor
  • Investment banking analyst
  • Junior tax associate/accountant

What can I do with this major?

Industries

Suggested employers

Corporate and public finance

  • Treasury
  • Budget analysis
  • Financial analysis
  • Investor relations
  • Risk management
  • Financial reporting
  • Investment management
  • Cash and Credit management
  • DOW
  • DTE Energy
  • General Motors
  • Owens Corning
  • Ford Motor Company
  • Stellantis

Banking

  • Mortgage loans
  • Private banking
  • Branch management
  • Commercial lending
  • Corporate credit analysis
  • Ally
  • Comerica Bank
  • Chemical/TDF Bank
  • Huntington National Bank
  • Rocket Mortgage by Quicken Loans

Insurance

  • Sales
  • Claims analysis
  • Risk management
  • Travelers
  • Comerica Bank
  • Northwestern Mutual

Personal Financial Planning

  • Sales
  • Customer service
  • Financial planning
  • Portfolio management
  • AXA Advisors
  • Prudential
  • Raymond James Financial

Investment Banking

  • Trading
  • Mergers and acquisitions
  • Corporate financial analysis
  • JP Morgan
  • AYCO, a Goldman Sachs Co.

Areas of Finance

Banks

Institutions

Public accounting

Corporates

  • Sales and trading
  • Equity research
  • Investment banking
  • Commercial banking
  • Research
  • Private equity
  • Portfolio management
  • Valuations
  • Due diligence
  • Transaction advisory
  • FP & A
  • Treasury
  • Investor relations
  • Corporate development

Career fairs

  • Annual career fairs for Ilitch School students and alumni to meet with employers in various functions for co-ops and internshipsand full-time employment
  • Check Handshake for details

Meet the Accounting Firms career fair

  • Annual career fair held for accounting and finance students and alumni interested in pursuing a CPA or other related certification
  • Engage with employers recruiting for co-ops andinternships and full-time positions in public and private industries
  • Check Handshake for details

Internships and full-time employment

  • Internships occur anytime during the academic year
  • Full-time recruiting occurs during the first three months of the Fall and Winter semester
  • Check Handshake for details

Quick prep tips

  • Apply for jobs, register for Career, Planning and Placementevents, research employers on Handshake
  • Attend meet andgreets, company presentations, career fair prep and mock interviews
  • Attend Ilitch School career fairs
  • Submit resume for review and approval on Handshake or schedule an appointment with a Career, Planning and Placement advisor
  • Prepare for upcoming interviews by meetingwith Career, Planning and Placement staff for one-on-one guidance
  • Research finance companies
  • Purchase business professional attire or borrow attire from theMary Ann Goldsberry Professional Dress Closet located in the Career, Planning and Placement, Suite 229

Get involved

Consider joining one or more of the following student organizations:

Job resources

Finance Career Options - Career Planning and Placement (2024)

FAQs

How to answer why finance question? ›

Tips to answer "Why do you want to pursue a career in finance?"
  1. Showcase your passion. ...
  2. Highlight your analytical skills. ...
  3. Discuss the impact. ...
  4. Emphasize the challenge. ...
  5. Show your understanding of the industry. ...
  6. Link it to your skills. ...
  7. Highlight the potential for continuous learning. ...
  8. Discuss the potential for growth.
Jul 6, 2023

What are the three main areas of career opportunities in finance? ›

In the field of finance, there are three main categories of the industry: public, corporate, and personal. From financial planning to investment banking to insurance, people who pursue careers in finance power the world.

What are the 4 basic areas of finance? ›

Finance is the management of money which includes investing, borrowing, lending, budgeting, saving and forecasting. There are four main areas of finance: banks, institutions, public accounting and corporate.

What are your career goals in finance? ›

For example, you might develop a goal to become a certified financial planner , and you can measure your progress by tracking short-term goals, such as studying for the certification exam. Creating and accomplishing goals can also provide satisfaction that helps retain your interest in your financial career.

Why would you want a career in finance? ›

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

What is the best answer to why finance in an interview? ›

Here's an example of how to highlight your educational background in your answer:"I chose to study finance because I realized I was passionate about investing and excellent at investment strategies. I took capital markets, financial accounting, corporate finance, financial modelling, and portfolio management courses.

Is finance a hard major? ›

Finance degrees are generally considered to be challenging. In a program like this, students gain exposure to new concepts, from financial lingo to mathematical problems, so there can be a learning curve.

What is the most common job in finance? ›

Top 10 entry-level jobs in finance
  • Financial analyst. A financial analyst — sometimes called a business analyst — uses financial data to guide business decisions. ...
  • Personal financial adviser. ...
  • Accountant. ...
  • Loan officer. ...
  • Insurance sales agent. ...
  • Budget analyst. ...
  • Auditor. ...
  • Tax specialist.

What is a career field in finance? ›

The finance industry offers a variety of job opportunities, both on and off Wall Street. Careers include financial planner, financial analyst, actuary, securities trader, portfolio manager, and quantitative analyst (quant).

What are the five F's of finance? ›

To be truly wealthy, you've got to find a way to convert those figures into experiences and memories. A smart way of doing this is to split your life into five categories: Family, freedom, fitness, fun and fortune. These are known as the Five Fs.

What are the 5 key areas of financial planning? ›

In this blog, we explore the five key components of a financial plan and how they work together.
  • Investments. Investments are a vital part of a well-rounded financial plan. ...
  • Insurance. Protecting your assets—including yourself—is as important as growing your finances. ...
  • Retirement Strategy. ...
  • Trust and Estate Planning. ...
  • Taxes.
Feb 9, 2024

What are the 5 areas of financial planning? ›

When conducting your financial analysis, we take a look at the five main areas of financial planning:
  • Protection. ...
  • Estate Planning Strategies. ...
  • Retirement Planning. ...
  • Investment Planning. ...
  • Tax Planning.

How to write a career plan? ›

8 Steps to an Effective Career Plan
  1. Identify Your Career Options. Develop a refined list of career options by examining your interests, skills, and values through self-assessment. ...
  2. Prioritize. It's not enough to list options. ...
  3. Make Comparisons. ...
  4. Consider Other Factors. ...
  5. Make a Choice. ...
  6. Set “SMART” Goals.

What is your #1 financial goal? ›

Long-Term Financial Goals. The biggest long-term financial goal for most people is saving enough money to retire. The common rule of thumb is that you should save 10% to 15% of every paycheck in a tax-advantaged retirement account like a 401(k) or 403(b), if you have access to one, or a traditional IRA or Roth IRA.

What is your career path? ›

A career path is defined as a long-term plan that includes specific steps or tasks that help you advance to a desirable occupation or new role. It typically involves a series of related jobs or roles that provide increasing levels of responsibility, skill development, and possibly higher levels of compensation.

What are the major areas of finance? ›

The four fundamental pillars of finance are Corporate finance, Investments, Financial institutions and International finance. Let's briefly explore each of these areas to better understand their significance and how they contribute to the broader financial landscape.

What are the three largest or most important professional organizations in finance? ›

In the financial services industry, there are several national and regional associations that advisors may consider joining. The FPA, FSP, NAPFA, and FMA are just four of the most well-respected associations, which we discuss in turn.

What are the four career pathways in the finance career cluster? ›

The Finance Career Cluster is divided into four pathways: Securities & Investments; Business Finance; Insurance; and Banking Services.

What do all finance careers have in common? ›

Which task do all finance careers have in common, and which task is designed mainly for insurance careers? All finance careers advise customers on finances, and insurance careers handle risk management.

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