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

Finance Career Options - Career Planning and Placement? ›

Most finance jobs require four-year or advanced degrees, especially in business, math, economics, and statistics. Finance jobs differ and include roles as diverse as investment banker, actuary, portfolio manager, quantitative analyst, securities trader, and financial planner.

What is the path to a career in finance? ›

Most finance jobs require four-year or advanced degrees, especially in business, math, economics, and statistics. Finance jobs differ and include roles as diverse as investment banker, actuary, portfolio manager, quantitative analyst, securities trader, and financial planner.

What is a career in financial planning like? ›

In terms of day-to-day activities, financial planners will also perform duties including: Keeping clients up to date with their investment portfolios. Providing assistance with tax management, investment advice and new opportunities. Setting targeted goals in accordance with the needs of individual customers.

What is the best career in finance? ›

This blog lists the 15 highest-paying jobs in finance to help aspiring professionals understand industry trends better.
  1. Chief Financial Officer. ...
  2. Investment Banker. ...
  3. Budget Analyst. ...
  4. Budget Director. ...
  5. Tax Director. ...
  6. Tax Director. ...
  7. Hedge Fund Manager. ...
  8. Investment Portfolio Manager.

What are the 5 main areas of personal finance? ›

What Are the Five Areas of Personal Finance? Though there are several aspects to personal finance, they easily fit into one of five categories: income, spending, savings, investing and protection. These five areas are critical to shaping your personal financial planning.

What are the four major career 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.

Is finance a good career path? ›

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.

Is a financial planning degree worth it? ›

Financial planning offers relatively high pay, strong job growth and the chance to make a positive difference in other people's lives. In this article, we'll explore how to become a financial planner, including education, experience and certification.

What to expect from a career in finance? ›

Job Description: These analysts evaluate financial data for individuals and businesses. They research business and economic trends, assess financial statements and make investment recommendations to maximize profits. Investment banking analysts typically work as either buy-side analysts or sell-side analysts.

What is the highest paid job in finance? ›

Top 5 Highest Paying Jobs in Finance
  • Chief financial officer (CFO)
  • Investment banking.
  • Hedge fund manager.
  • Private equity associate.
  • Actuary.
Feb 6, 2024

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.

Does finance make a lot of money? ›

Salaries in the finance industry

According to the U.S. Bureau of Labor Statics (BLS), careers in finance pay a median salary of $76,850 — 66% higher than the median salary for all occupations in the nation ($46,310).

What are the 5 C's of personal finance? ›

The five Cs of credit are important because lenders use these factors to determine whether to approve you for a financial product. Lenders also use these five Cs—character, capacity, capital, collateral, and conditions—to set your loan rates and loan terms.

What is the #1 rule of personal finance? ›

#1 Don't Spend More Than You Make

When your bank balance is looking healthy after payday, it's easy to overspend and not be as careful. However, there are several issues at play that result in people relying on borrowing money, racking up debt and living way beyond their means.

What are the 4 areas of finance? ›

The four fundamental pillars of finance are Corporate finance, Investments, Financial institutions and International finance.

How do I break into a career in finance? ›

How to start a career in finance
  1. Earn a bachelor's degree. ...
  2. Pursue an internship. ...
  3. Ask for referrals. ...
  4. Take relevant courses. ...
  5. Pair up with a mentor. ...
  6. Attend career fairs. ...
  7. Start in an entry-level position.
Apr 18, 2024

What's the highest paying job in finance? ›

What are the top 5 highest paying jobs? The top 5 highest paying jobs in finance are investment banking, hedge fund management, CFO roles, private equity, and actuarial positions. These careers typically offer substantial salaries and the potential for significant bonuses.

Is finance a well paying career? ›

According to the U.S. Bureau of Labor Statics (BLS), careers in finance pay a median salary of $76,850 — 66% higher than the median salary for all occupations in the nation ($46,310).

Is it hard to get a job in finance? ›

You don't need an MBA to work in finance, but the field is highly competitive, especially at the entry-level. Internships offer experience, exposure, and a tryout for a full-time gig.

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