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Arun philip's career plan

发布时间:2017-04-23
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I. Objectives

At the end of my professional career, I want to be recognized as someone who made a positive difference in the lives of the people and in organizations that I was associated with. I know I have to work hard to get this recognition, and I am willing to put forth the necessary effort. I intend to approach everything I do with a positive attitude, lots of enthusiasm, and a desire to ‘make the difference'.

I also realize that to accomplish all that I want to, I will have to continue to learn new skills as I progress. I am majoring in finance and marketing. My immediate objective is to find a job where I can learn as much as possible. I want exposure to a broad range of business areas. In this phase of my career, I want to build a strong base of knowledge and experience. I also want to gain some specialized knowledge in finance, but I do not want to become so specialized that I am no longer flexible. Achieving my short -term goals will prepare me for my long-term career aspirations. My short-term goals doesn't geographic or salary constraints. I will relocate anywhere regardless of salary in order to put myself in a position to gain experience and knowledge.

In the medium term, I'd like to obtain a secure yet challenging job. By this time, I expect to know more specifics about the career path I want to take. Hopefully, as a result of achieving my short-term goals, I will have an impressive combination of knowledge, skills, and experience to move ahead. I consider getting the Certified Financial Analyst (CFA) designation from a nationally ranked university.

My long-term goal would be on the top of the corporate ladder. It would be nice to do this by climbing straight up one ladder, but most likely I'll need to jump laterally from ladder to ladder to continue my assent. Ideally, I would like to end my professional career as a CEO of a corporation. I would get enjoyment out of knowing that I make an impact on the day-to-day lives of everyone my company influences. If I can achieve each of my goals to their fullest extent I should be able to accumulate a good deal of wealth by time I retire. I hope to live a long and comfortable retired life, giving back to the community and financially supporting my fraternity, making a lasting impression on each.

II. Career Path

Job 1: Business Analyst with a Consulting Company (Age 23-30)

Starting skills and knowledge:

  • Master of Business Administration with a major in finance and marketing.
  • Strong academic performance, analytical and problem-solving skills
  • Excellent oral and written communication skills
  • Effective interpersonal, leadership, and team-work abilities

Basic Functions:

  • Act as a member of a consulting team.
  • Learn as much as possible about the each segment of business that the team is consulting on.

Primary Duties and Responsibilities:

  • Utilize existing business knowledge to help clients meet their objectives.
  • Identifying business areas that need improvement.
  • Communicating solution strategies to clients.
  • Build on business knowledge by independently studying and by attending classes and seminars.

Types of Decisions:

  • Recommending specific solution strategies
  • Assist in implementing these strategies.

Consequences of Error:

  • Ineffective solutions and strategies for the customer.
  • Loss of business for company.
  • Loss of personal and company reputation.

Organizational Relationships:

  • Nearly all work in done in teams.
  • Business Analysts report to a senior consultants.
  • Interaction with management and other employees of the customer.
  • Communication with the "experts" at the consulting company, when the collective knowledge of the team is not sufficient.

Representative Skills and Knowledge:

  • Must have a broad understanding of business.
  • Must be able to use technology.
  • Must be able to continually learn new segments of business and new processes.
  • Must have good communication skills both within a team and with the customers.

Evaluation, Advancement, and Promotion

  • Advancement is based on experience and knowledge.
  • Next level includes senior consultant or manager positions.

Job 2: Corporate Financial Analyst (Age 30-45)

Starting skills and experiences:

  • Broad knowledge of business processes.
  • Expert knowledge in some segments of business.
  • Business related written and oral communication skills.

Basic Functions:

  • Help analyze the financial position of the company.
  • Help determine the financial needs of the company.
  • Help establish and carry policies to fulfill the financial needs of the company.

Primary Duties and Responsibilities:

  • Forecast revenues and cash flows from existing business segments.
  • Generate cash flow forecasts for new capital budgeting projects.
  • Provide reports to management to assist in long-term planning.
  • Identify ways of improving cash flows.

Types of Decisions:

  • Mostly concerned with data analysis.

Consequences of Error:

  • Inability for the company to take advantage of opportunities due to insufficient cash.
  • Loss of company revenue from accepting poor performing projects.

Organizational Relationships:

  • Analysts often work in teams and consultation is frequent.
  • Junior analysts are usually the responsibility of senior analysts.
  • The CFO is ultimately in charge of the financial decisions.

Representative Skills and Knowledge:

  • Must understand the business of the company, capital markets, risk, and competitors.
  • Must be able to use technology to solve problems and plan.
  • Must have theoretical and practical knowledge of finance and accounting.
  • Must have good communication skills both with other analysts and management.

Evaluation, Advancement, and Promotion

  • Advancement is based on experience, knowledge, and performance.
  • Performance reviews are usually yearly or biyearly.
  • Movements from department to department or company to company may be needed to accelerate promotion.

Job 3: Financial Manager for a corporation (Age 45-51)

Starting skills and experiences:

  • Extensive knowledge of the financial aspects of the business.
  • Knowledge of advanced quantitative techniques.

Basic Function:

  • Obtain financing as requested by upper management and to satisfy corporate policy.

Primary Duties and Responsibilities:

  • Assist with corporate debt and equity issues.
  • Generally head up new financing activities.
  • Organize and lead teams to work on projects as needed.

Types of Decisions:

  • Identify forms and sources of financing.
  • Negotiate terms of financing.

Consequences of Error:

  • Inability for the company to take advantage of opportunities due to insufficient financial resources, ultimately reducing shareholder value.
  • Company pays more for financing than it needs to.

Organizational Relationships:

  • Must interact with and take responsibility for subordinate errors.
  • Must report to the Vice President of Finance.

Representative Skills and Knowledge:

  • Must understand the business of the company, capital markets, risk, and competitors.
  • Must have theoretical and practical knowledge of finance and accounting.
  • Must have interpersonal skills in dealing with analysts, superiors, and outside agents.
  • Must be able to use technology to assist in decision making.

Evaluation, Advancement, and Promotion

  • Could move up to Vice President of Finance with good performance.
  • Lateral movements may have to be made in order to advance.

Job 4: Vice President of Finance for a major corporation (Age 45-51)

Starting skills and experiences:

  • Masters of Business Administration.
  • Extensive knowledge of the financial aspects of the business.
  • Knowledge of advanced quantitative techniques.
  • Managerial Experience

Basic Function:

  • To be the leader of the finance department.
  • To assure CEO or President that the company's finances are in order.
  • Preside over & plan the long term financial structure of the company.
  • Primary Duties and Responsibilities.
  • Direct and lead capital budgeting projects.
  • Implement financing plans.
  • Contact and maintain relationships with lenders.
  • Oversee risk exposure and risk management activities for the firm.
  • Oversee pension fund assets and other projects.

Types of Decisions:

  • Selection of underwriters for issuing securities.
  • Decide timing and riskiness of financing.

Consequences of Error:

  • Inability for the company to take advantage of opportunities due to insufficient cash.
  • Loss of company revenue from accepting poor performing projects.
  • Losses due to unneeded exposure to risk.

Organizational Relationships:

  • Generally reports to the CEO or CFO of the firm.
  • The CFO is ultimately in charge of the financial decisions under his jurisdiction.
  • Must interact with lower level managers.

Representative Skills and Knowledge:

  • Must understand the business of the company, capital markets, risk, and competitors.
  • Must be able to use technology to solve problems and plan.
  • Must have theoretical and practical knowledge of finance and accounting.
  • Must have good communication skills both with managers and the CEO or President.
  • Must have complete understanding of the intricacies of the various departments within the company.

Evaluation, Advancement, and Promotion

  • Possible advancement to President, CFO, or CEO.
  • Lateral movements may have to be made in order to advance.

Job 5: President or CEO of a major corporation (Age 55-62)

Starting skills and experiences:

  • Extensive knowledge of the financial aspects of the business.
  • Knowledge of advanced quantitative techniques.
  • Managerial Experience
  • Executive experience.

Basic Function:

  • To be the leader of the corporation.
  • To be the primary liaison between the corporation and the stockholders.

Primary Duties and Responsibilities:

  • Have the final say on the decisions of the company.
  • Review the overall financial position of the company.
  • Approve proposals of the various departments of the corporation.
  • Take responsibility when the corporation has problems.

Types of Decisions:

  • Decisions on the long-term direction of the company.
  • Final approval or disapproval of projects.

Consequences of Error:

  • Loss of competitive advantage of the firm.
  • Reduced shareholder value.
  • Poor public relations.

Organizational Relationships:

  • The CEO has the final say in all company decisions.
  • Must interact with other company executives.
  • Must interact with the board of directors.
  • Must interact with the public and provide a positive corporate image.

Representative Skills and Knowledge:

  • Must have complete understanding of the company, competitors, and stockholders.
  • Must have excellent business sense.
  • Must have a clear vision of the company.
  • Must be a leader.
  • Must be able to instill confidence.

Evaluation, Advancement, and Promotion

  • This is the top job.
  • The only possible positive movements are lateral.
  • Must be a star performer to get this far.

Fall Back Plan:

In the event that I am unable to get a consulting job, I will need to find another career. I would still like to stay in the field of corporate finance. There are many companies that hire entry-level people for their finance departments. This is the type of job I would be qualified for. This would still allow me to advance in the corporate world although perhaps not as quickly.

On such option would be to work in the treasury department of a large corporation. Here, I would be responsible for the daily cash management functions. Since cash flow is the lifeblood of a company, this position would put me at the center of the firm's activities.

III. Analysis

The primary career I have chosen is corporate financial analysis. This career requires hard work, patience and perseverance. I will start out on the bottom floor and prove myself. Through this career I will advance from junior analyst to senior analyst to manager up to CFO status. There are many intermediary positions in between.

An important characteristic of a financial analyst is to be analytical. Financial analysts must use various quantitative techniques to address issues involving when and where to obtain financing when and if to accept projects. They must be able to sift through numbers and obtain the useful information. Financial analysts make frequent use of spreadsheets and financial models.

A certain degree of organization and communication skill is needed to be a financial analyst. A financial analyst must be able to organize information in a manner so that it is easy for superiors to understand and use. A financial analyst must be able to understand the context in which information is useful and present it that way. This will drive the analysts' choice of methodology. If effective communication with superiors is not established then the work of a financial analyst will not be recognized or rewarded properly.

A financial analyst needs to be knowledgeable and comfortable with all aspects of the corporations operations. The actions of the finance department will affect the actions of all other department in the business. An analyst needs to understand the broad implications of his actions with respect to the rest of the company. In addition, a financial analyst needs to understand the implications of his actions from an outside the company point of view.

It seems the stress level in corporate finance is not as high as say, in trading. However, the hours are typically long. During certain times, such as when a new project must be undertaken, the level of stress and the time commitment will increase. The activities and assignments for a financial analyst can vary and possibilities for lateral movements into other types of financial analysis usually exist. Generally, financial analyst can continue on their career path for many years without burnout. My commitment to hard work, my desire to ‘make the difference', my willingness to keep learning to constantly expand and improve my skill set are all characteristics that I believe will take me down the road to success.

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