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The Complete Guide To Business and Finance Careers
The Complete Guide To Business and Finance Careers
The Complete Guide To Business and Finance Careers
Reputation ranking
Salary estimates
Contents
Intro 2
Contents 3
Asset Management 4
Consulting 6
Financial Advisory 8
Private Equity 10
Investment Banking 12
Auditing 14
Risk Management 16
In-house M&A 18
Financial Analyst 20
Tax Analyst 22
Retail & Corporate Banking 24
Sales 26
Business Development 28
Brand Management 30
Trading 32
Internal Audit 34
Hedge Fund Analyst 36
Project Management 38
3
Asset Management
Short Description
Use money to make money
Asset Management is about managing clients’ in- classes, namely stocks, bonds, commodities, real es-
vestments and providing them with strategies and tate, private equity, etc. Large firms have branches all
expertise that allow them to achieve their goals and over the world and can offer geographical expertise
secure their financial future. In other words, asset as well. Given that asset managers follow these mar-
managers are in the business of using money to make kets closely, they can offer high-quality advice and
more money. superior risk-return investments.
An individual or an institution is likely to approach Clients receive a comprehensive service. Asset
an asset management firm when their investment in- managers study their needs, create an actionable
come is substantial. In such cases, asset managers in-vestment strategy, implement the strategy, and
can offer expertise across a wide spectrum of asset over-see its development over time.
4
The Complete Guide to Careers in Business & Finance / Asset Management
Entry-level $60k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
5
Consulting
Short Description
Solving managerial, financial, or operational issues
Consultants are hired by companies to help them tangible fixes that must be made in the company’s
resolve a specific issue they are facing. The fact that operations and technology. Often, consultants’ fees
they bring expertise, a set of heterogeneous experi- depend on the extent of operational efficiency they
ences, and an outer perspective, makes their services achieve.
popular. Financial consulting is about the way companies
Management consulting is the practice of helping spend and manage cash, along with the efficient use
firms improve their performance through corrections of capital throughout the whole value chain, as well
in their organizational structure, strategy, marketing, as project financing, such as Mergers & Acquisitions
and so on. (M&A) and organic expansion.
Operational consulting, on the other hand, is about
6
The Complete Guide to Careers in Business & Finance / Consulting
• How many light bulbs are there in Manhattan? Interviewing client employees
Entry-level $75k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
7
Financial Advisory
Short Description
Preventing small leaks that sink great ships
Financial advisory is a sub-segment of the Con- These activities occur rarely in a company’s life
sulting industry. Firms operating in this market niche and require skills that regular companies do not have.
offer highly specialized services. Financial advisors can contribute with their expert
According to EY’s CEO, “Consulting is a very broad knowledge and ability to adapt to a challenging envi-
and no longer particularly helpful term.” He prefers ronment. This is a great school for entry-level finance
using the word “advisory”, instead of “consulting”, practitioners, as it provides them with constantly
when his firm provides services, like financial due dil- changing environment and access to different client
igence, financial forensics, valuation of equity stakes, realities.
risk management, drafting of IPO prospectuses, cal-
culating of transfer prices, and others.
8
The Complete Guide to Careers in Business & Finance / Financial Advisory
• How many light bulbs are there in Manhattan? Accounting & Financial
Statement Analysis
• Would you say you are a detail-oriented person?
MS PowerPoint
Entry-level $51k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
9
Private Equity
Short Description
Investing in “the companies of tomorrow”
Searching for interesting businesses. Valuation of banks, and high-net-worth individuals invest their
companies. Interviewing management and founders. money in private equity funds. The main idea is to use
Managing due diligence advisors. Deal structuring. the money to acquire private or public companies,
Monitoring of the business after it has been ac- develop and improve their business, and then resell it
quired… at a considerable profit, given the typical investment
Does it sound like an enticing career? horizon ranges between 5 and 10 years. Private equi-
If the answer is “Yes”, you are reading the right ty investments are risky and very illiquid, and inves-
page! The Private Equity industry as we know it to- tors expect a significantly higher return, compared to
day, is significantly larger, compared to what it was some of the other asset classes.
20 years ago. Nowadays, pension funds, investment
10
The Complete Guide to Careers in Business & Finance / Private Equity
Entry-level $62k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
11
Investment Banking
Short Description
Becoming the Wolf of Wall Street
Investment banks are notorious for their highly with investors, enabling them to raise equity or debt.
competitive working environment and long working Several decades later, when many companies were
hours for junior employees. Nevertheless, they con- tempted to grow in size by acquiring some of their
tinue to be one of the prime destinations for talented peers, investment bankers started offering M&A ad-
Business and Finance graduates, given the excite- visory services.
ment of working on “big deals” and the high pay scale At present, they are structured in a more sophisti-
that comes with the job. cated manner and facilitate various businesses. The
At first, investment bankers operated as agents four main areas of operation are Capital Markets, M&A,
for companies and institutions that required debt or Sales & Trading, and Asset Management.
equity financing. They could connect these entities
#corporate finance #m&a #ipo #trading #brokerage #money #long hours #tight deadlines
12
The Complete Guide to Careers in Business & Finance / Investment Banking
Entry-level $63k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
13
Auditing
Short Description
Making sure that companies report their finances properly
Every company has employees responsible for pendent external auditor has been a cornerstone of
gathering its financial information and using it to pro- confidence in the world’s financial systems.
duce useful financial statements. The benefit of an audit is that it provides assurance
A question then arises, “Who oversees whether that management has presented a “true and fair” view
companies comply with financial regulation guide- of a company’s financial performance and position.
lines and ensure they do not manipulate their finan- All financial statements include a note from their
cial statements?” auditor, which certifies (or doesn’t) the credibility of
This is the task of auditing firms. the figures within the report.
Since its introduction, the need for certain compa-
nies’ financial statements to be audited by an inde-
14
The Complete Guide to Careers in Business & Finance / Auditing
Entry-level $45k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
15
Risk Management
Short Description
Life is more risk management, rather than exclusion of risks
The financial crisis of 2008 increased the as the number of opportunities in Risk Management
emphasis on risk, as financial and industri- continues to grow and its function becomes closer
al organizations became more and more in- than ever to the decision-making bodies in organiza-
terested in the type of risks they were facing. tions. This is especially true for financial institutions.
To increase employee awareness and improve deci- Depending on a firm’s business, it may face some of
sion-making processes, many firms invest heavily in the following risks: market, credit, liquidity, insurance,
risk management. The goal of Risk Management is to fraud, operational or health, and safety risks. Typically,
spot, prevent, and mitigate significant risks to which large corporations hire professionals, who specialize
an organization could be exposed in the future. Can- in one of these categories of risks.
didates’ interest in this profession gradually increases,
16
The Complete Guide to Careers in Business & Finance / Risk Management
Entry-level $58k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
17
In-house M&A
Short Description
Being a part of a dedicated M&A team within a large corporation
There are several reasons M&A deals play an im- Besides, those working in the M&A department
portant role in a company’s life. Top managers under- have the required expertise to support technical as-
stand that, sometimes, it is cheaper to acquire some- pects of these deals, including the process of finding
thing that has already been created, rather than and communicating with bidders or targets, acqui-
building it from scratch. In addition, businesses are sition of financial information as well as negotiations
so complimentary that their joined forces can unlock with legal, technical, and financial advisors.
a great deal of savings, efficiency, and opportunities.
Thus, a significant number of today’s corporations
have a dedicated M&A department which generates
valuable insights and monitors competitors.
18
The Complete Guide to Careers in Business & Finance / In-house M&A
Entry-level $63k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
19
Financial Analyst
Short Description
Corporate Finance is not just debits and credits
The world of Corporate Finance undoubtedly ap- The wide range of activities allows for proficiency
peals to a big part of those interested in Business or and constant challenges. Plus, this career path offers
Finance careers. It offers good learning opportunities a healthy work-life balance, as tight deadlines and
for entry-level candidates and a rather structured pro- long working hours are highly unlikely.
fession path. The abundance of roles and strong competition for
Large industrial companies, like P&G, General Finance Manager positions mean that you will need
Electric, and Nestlé, need young people employed to continue learning while on the job and obtain cer-
in functions, like Supply Chain, Commercial Finance, tifications like ACCA, CIMA, CPA, or CFA to progress
Brand Finance, Financial Planning & Analysis, Trea- your career.
sury, Controllership, and Accounting.
20
The Complete Guide to Careers in Business & Finance / Financial Analyst
Entry-level $40k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
21
Tax Analyst
Short Description
One of the two things you can’t avoid - paying taxes
Tax advisors are financial experts, specifically Foreign tax, etc.) and can offer value-added services
trained in tax law. to their clients.
Every jurisdiction functions according to its own The Big Four audit firms are an important player
rules and mechanisms; therefore, a highly competent in this market segment. Often, they can cross-sell tax
person is needed to optimize a company or an indi- and some of their other services to the same client.
vidual’s taxes. Tax analysts can expect a structured, stable, and rela-
The tax field can be so complex that many indi- tively well-paid career as the demand for tax services
viduals specialize in a specific niche (M&A tax, Trans- is not likely to decline.
fer Pricing tax, Payroll tax, Sales tax, Value-added tax,
22
The Complete Guide to Careers in Business & Finance / Tax Analyst
Entry-level $53k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
23
Retail & Corporate Banking
Short Description
Deposit-taking and Credit giving
The two main divisions of modern commercial and resembles wholesalers, trying to reach the needs
banks are called Retail and Corporate Banking. Both of the majority of individual customers with their prod-
are in the business of collecting money in the form ucts. Corporate banking is the provision of services to
of client deposits and lending money to borrowers. corporations. These surely include transactional ac-
Retail Banking provides services to individual clients counts, FX, bank guarantees, and loans. Corporate
and, sometimes, small and medium enterprises. We banking products are usually tailored to the needs
all use these services daily: transactional accounts, of each client, and larger firms communicate with a
cards, mortgages, other loans, and facilities for peo- dedicated Relationship Manager.
ple and small companies. Retail banking usually has
a large client base and highly standardized products,
24
The Complete Guide to Careers in Business & Finance / Retail & Corporate Banking
Entry-level $40k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
25
Sales
Short Description
The amateur sells products; the professional sells solutions
Sales is a very broad and generic term, we realize sess a unique set of personality attributes that enable
that. What we want to point out is that all businesses them to succeed. Average sales performance cannot
need bright salespeople, who are not afraid to pick up be covered up, as a salesperson’s success or failure
the phone and talk to a stranger, explaining why his inevitably reflects the top-line figures. To flourish in
company must acquire a specific product or a solu- sales, one needs a specialized skill set and extraordi-
tion. In the world of Business & Finance, a wide range nary personality.
of sales jobs are available. Investment Banks need Sales are a field that offers no structured career
salespeople for their asset management and broker- path. Compared to other roles, top sales performers
age services. Industrial companies need people, who need less time to grow in an organization.
can sell their products. Successful salespeople pos-
26
The Complete Guide to Careers in Business & Finance / Sales
Depends on
Entry-level performance
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
27
Business Development
Short Description
Finding growth opportunities and working on their implementation
A company’s Business Development department Therefore, a person with great ideas can grab their
is mainly concerned with preparing potential growth attention quicker than the one in other Business & Fi-
opportunities. The process starts with industry screen- nance roles.
ing and then continues with analytical preparation, What’s more, it feels exciting to explore new mar-
support, and implementation of the growth opportu- kets and wear the hat of an entrepreneur within the
nities found in the first place. scope of a large organization.
This is a rather important function in every com-
pany’s business. Top managers pay a great deal of
attention to the firm’s revenues and are always inter-
ested in finding new ways to increase top-line results.
28
The Complete Guide to Careers in Business & Finance / Business Development
Entry-level $50k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
29
Brand Management
Short Description
Want to work for brands that millions of customers use?
World-class brands need world-class brand man- ship with them, once they have decided to try your
agers who develop marketing plans and build strate- product. Good marketers base their decisions on cus-
gies to gain customer insights. tomer feedback and quantitative input from market-
You will spend most of your time with represen- ing research.
tatives of other business functions (sales, market re- Overall, a very structured and interesting career, in
search, product development, finance, etc.). In these which you can work on products that make a differ-
meetings, you will have to make sure everybody is ence for millions of customers. Pretty cool, right?
aligned with the brand’s strategy and vision.
It is your job to figure out a way to reach to your
customer’s hearts and build a long-lasting relation-
#brand #brand recognition #product positioning #on the shelf #brand communication
30
The Complete Guide to Careers in Business & Finance / Brand Management
Entry-level $56k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
31
Trading
Short Description
Rule No 1. “Never lose money”. Rule No 2. “Never forget Rule No 1.”
This is one of the core activities carried out at mod- A career in trading has its pros and cons. On the
ern investment banks. Trading is critical for the profit- positive, when markets are doing well, most traders
ability of investment banks, as very few costs can be make a huge amount of money. They earn strato-
associated with the revenues it generates. Nowadays, spheric bonuses and can afford a high life standard.
investment banks trade all kinds of financial instru- On the contrary, trading profession is associated with
ments. Besides traditional asset classes - equities and low job security and constant stress. It is very difficult
fixed income - they tend to incorporate other financial to keep calm when tens of mil¬lions depend on your
instruments, called derivatives. call.
#stocks #bonds #derivatives #bid ask #bulls and bears #trend #resistance
32
The Complete Guide to Careers in Business & Finance / Trading
• High resistance to stress and ability to adapt to • Decision Making & Negotiation
a changing environment
Entry-level $65k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
33
Internal Audit
Short Description
Examining issues related to company’s business practices
A company’s internal auditors provide assurance management and management controls over the ef-
that business practices and operations comply with fectiveness of operations (including safeguarding of
set standards. Their job differs greatly from the one of assets), the reliability of financial and management
external auditors. reporting, and compliance with laws and regulations.
The top managers of the company cannot be ev- It is the internal auditor’s job to advise top man-
erywhere and need assurance that the whole orga- agement and the Board of Directors on how effective
nization respects their policies and guidelines. The the current process structure is, as well as the way the
scope of internal auditing within an organization is latter can be enhanced.
broad and may involve topics like governance, risk
34
The Complete Guide to Careers in Business & Finance / Internal Audit
Entry-level $45k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
35
Hedge Fund Analyst
Short Description
Figure out what will happen rather than what should happen
Hedge funds fall into the category of alternative ing discrepancies that allow them to profit by trading
investments. These are vehicles that offer high rates at no risk. Such betting is called arbitrage.
of return at the expense of considerable risk. People working in Hedge Funds have a great intu-
There can be different types of hedge funds, based ition about markets and rely heavily on their excellent
on the strategy they follow. We can have Global, Di- quantitative skills to verify if a certain trade is an arbi-
rectional, Event-driven, Relative value, and Miscella- trage opportunity. The salaries in the Hedge Fund in-
neous funds. All of these entities have a precise idea dustry are among the highest in the world of Business
on how they expect to beat the market. Hedge funds and Finance.
are known for their ability to try and find market pric-
36
The Complete Guide to Careers in Business & Finance / Hedge Fund Analyst
Entry-level $85k
compensation (*) Gross annual salary
Reputation (*)
*(1) The indicated entry-level compensations are before tax and exclude bonuses. *(2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. *(3) We have assigned a reputation ranking based on our own research and perception.
37
Project Management
Short Description
Don’t find a fault, find a remedy
Most people perceive Project Managers as readily stand your organization’s business scope and goals.
prepared and good at getting things done. What they This helps you better understand where your project
don’t know is that Project Managers use a wide vari- fits in, as you can act to ensure it is a success story in
ety of technical skills and knowledge. To begin with, itself, but also company-wide.
Project Managers learn practical skills specific to proj- Project Managers must refine their skills and many
ect management, such as project plan structuring, take the PMP examinations and obtain a Project Man-
scheduling, and performance tracking. agement Professional Certification.
In fact, they need an extensive level of business
expertise. As a Project Manager, it’s up to you to make
sure your project delivers value. You need to under-
38
The Complete Guide to Careers in Business & Finance / Project Management
Entry-level $52k
compensation (*) Gross annual salary
Reputation (*)
* (1) The indicated entry level compensations are before tax and excluding bonuses. (2) Working hours estimation has been carried out by considering the
input of people working in the respective industry. However, these can vary significantly from Country to Country, Company to Company, and Manager to
Manager. (3) We have assigned a reputation ranking based on our own research and perception.
39