Jobs in Financial Services in 2008 and 2009
With today's economy it might seem that jobs in financial services will be harder to find in 2008 and 2009. But employment opportunities for finance professionals will likely be good, and the current business problems are part of the reason why. While banks and investment firms will be laying off employees during the remainder of 2008 and into 2009, others firms and government agencies are in need of skilled finance people to help them deal with today's complex problems. Finance professionals with specific technical skills are already in demand.Every organization that handles cash, extends credit, or prepares a budget needs finance professionals, and some employers are struggling to find people with the necessary skills. Employers need finance professionals knowledgeable in tax accounting and Sarbanes-Oxley to handle their rapidly evolving business needs. Cost accountants are sought after simply because the labor market has not produced enough experienced cost accountants to replace those leaving the field. Business changes are also creating job opportunities for those with general finance experience and for new graduates.Employers are looking for finance professionals with degrees and certifications. A bachelor's degree is the minimum educational requirement for most finance positions, but jobs are easier to get for those with advanced degrees. All things being equal, employers favor a job candidate with an MBA over one holding a bachelor's degree. For managerial positions a graduate degree is sometimes required.Employers also want Certified Public Accountants, or CPAs, which are in short supply. The number of people applying for CPA licenses has dropped sharply since most states instituted a 150 hour education rule, and now many areas are experiencing a shortage of CPAs. Certified Management Accountants, or CMAs, are becoming increasingly popular with employers. Unlike a CPA, a CMA focuses on management accounting, cost accounting, and decision support. Both certifications adhere to a strict code of ethics, which is attractive to employers. Relevant experience is important for those seeking jobs in financial services. Employers are looking for candidates who have demonstrated the ability to analyze financial information, answer management's questions, and make recommendations about the future value of alternate choices. They seek people who can show how they have cut costs, raised productivity, and improved the bottom line. Employment opportunities always exist for those who can demonstrate how they have made a significant positive impact on a firm.Employment opportunities in finance should remain favorable in these tough economic times. The current unemployment rate reflects a poor job market for unskilled and semi-skilled workers, but not so for professional workers. Finance professionals in particular enjoy an unemployment rate that is about half of the official average, and those with the right skills and experience are currently in demand.
Wednesday, 31 December 2008
Thursday, 4 December 2008
How to sell
How to sell anything, to anybody, anywhere at any price was the title of a talk given to me to deliver at the National Achievers conference in Kuala Lumpur and Singapore in 2001 in front of over 5,000 participants in each city.Although I was fortunate to share the stage with inspiring speakers like Robert Kiyosaki, I was the only speaker on sales.How to sell is one thing, but to how to sell anything, to anybody anywhere at any price is another. At least that is what I thought when the title was first given to me. However, the more I thought about it, the more I realized this topic, "ABC, 123 Sales Results System" covered all the bases.Let's first build a solid foundation for how to sell. How to sell starts with Attitude - a desire to want to sell, with a belief in yourself, that you can sell. How to sell requires you to believe in your organization, it value proposition, it's products and services and the supporting team players.When you believe, others will too. However, If you do not believe in yourself, your organization, it's products and services, the supporting team players, or the market, nor will the prospect. How to sell is based first on beliefs.Your beliefs is your foundation to how to sell successfully or not. Your beliefs determine your attitude. It is our attitude that determines how you feel. How we feel determines the actions you take. The actions you take determine your results.When it comes to how to sell, your beliefs lead the way. Your beliefs are under your control and only you can change them. As an adult you should be able to distinguish between what is real and what is not in your beliefs and clean them up. You need to get your beliefs up to a 10 if you want to succeed in life, not only in sales.The next step in how to sell is to ensure you demonstrate appropriate results oriented Behaviors. Behaviors are your daily habits. First do you have personal goals? If so, great as they are your guiding motivators when it comes to how to sell.If not, how can you ever achieve goals for others, if you first cannot achieve them for yourself. You cannot give something to somebody else if you do not have it to give away in the first place.When it comes to how to sell, our personal goals keep us focused, disciplined and motivated. Our corporate goals also keep us employed, focused, disciplines and motivated when it comes to how to sell.However, when it comes how to sell to the market place, our behavior for results has to be targeted. Targeted to markets and prospects that will give us the quickest market positioning, reputation and results, in the shortest time frame.In others words, how to sell requires you to do some homework and consider your return on time invested (R.O.T.I.). How, when and where can you maximize your R.O.T.I.?How to sell requires the right foundation as we have learned in Attitude and Behavior. How to sell also requires that you follow a sales results system, or sales process. This is referred to having the appropriate Competencies when you are face to face with a client.The Competencies that we are referring to here when it comes to how to sell are communication skills. The art of asking in depth questions and listening, while taking notes is fundamental when it comes to how to sell.With competent communication skills we can build rapport, develop trust and start a relationship. The first competency step in how to sell. How to sell requires that you also qualify the prospect. With trust you can proceed to set parameters, uncover buying motivators, financial ability, and decision making processes, qualifying the prospect.It is at the summary stage that you will know if you can help them with a solution or not. If not, let them know you cannot. If you can, proceed to prescribe them a solution. How to sell up until this point is all about building trust qualifying the prospect. That is the job of a real sales professional.Now take note that you are asking all the questions up until this point putting you in control of the sales process. That is how to sell. How to sell is not about telling - it is not about you, your company, products, services or solutions.How to sell professionally is about engaging the prospect into buying- it is all about them, their needs, their budget and their decision.
Wednesday, 3 December 2008
Marketing Manager in Financial Services
Marketing plays an important role in almost every industry sector. In its simplest form, it is about ensuring that customers' needs are met whilst maximising the profits of a company. A marketing manager's responsibilities can vary enormously, but will always have this as a central objective.
Daily tasks and duties will depend on the company size, structure and industry sector but may include:
monitoring and analysing market trends
studying competitors' products and services
exploring ways of improving existing products and services, and increasing profitability
identifying target markets and developing strategies to communicate with them.
Most marketing managers work 37 hours a week, between the hours of 9am and 6pm. As with many jobs with tight deadlines, they may be expected to work additional hours at certain times to ensure that targets are met. Some positions may require a lot of travel, particularly when working for an international company.
Salaries can range from around £25,000 a year for someone new to the role, to £40,000 or more for a senior manager.
A marketing manager should:
have knowledge of a wide range of marketing techniques and concepts
be an excellent communicator
be able to respond well to pressure
think creatively
be interested in what motivates people
All industry sectors employ marketing managers. Jobs are generally concentrated around major cities such as London, Edinburgh, Birmingham and Liverpool. This is a popular area of work so competition can be intense.
There are no set entry routes, but marketing managers often progress into the role after gaining several years of marketing experience, possibly as an executive or assistant, or in a specialist role such as advertising or brand manager. Typically, employers look for graduates.
On-the-job training is complemented by professional marketing qualifications. These range from introductory certificates to advanced level qualifications.
A successful marketing manager may be able to progress to more senior posts such as marketing director or even managing director. It may be possible to work abroad.
Daily tasks and duties will depend on the company size, structure and industry sector but may include:
monitoring and analysing market trends
studying competitors' products and services
exploring ways of improving existing products and services, and increasing profitability
identifying target markets and developing strategies to communicate with them.
Most marketing managers work 37 hours a week, between the hours of 9am and 6pm. As with many jobs with tight deadlines, they may be expected to work additional hours at certain times to ensure that targets are met. Some positions may require a lot of travel, particularly when working for an international company.
Salaries can range from around £25,000 a year for someone new to the role, to £40,000 or more for a senior manager.
A marketing manager should:
have knowledge of a wide range of marketing techniques and concepts
be an excellent communicator
be able to respond well to pressure
think creatively
be interested in what motivates people
All industry sectors employ marketing managers. Jobs are generally concentrated around major cities such as London, Edinburgh, Birmingham and Liverpool. This is a popular area of work so competition can be intense.
There are no set entry routes, but marketing managers often progress into the role after gaining several years of marketing experience, possibly as an executive or assistant, or in a specialist role such as advertising or brand manager. Typically, employers look for graduates.
On-the-job training is complemented by professional marketing qualifications. These range from introductory certificates to advanced level qualifications.
A successful marketing manager may be able to progress to more senior posts such as marketing director or even managing director. It may be possible to work abroad.
Tuesday, 2 December 2008
Pensions Sales Advisor
Pensions advisers and managers work with individuals and businesses on choosing and running pension schemes. They help people to make financial plans for their retirement. They also advise businesses on pension schemes for their employees.
Personal pensions advisers help individuals to choose the most appropriate scheme. They carry out financial forecasts, advise on pensions and adjust existing schemes.
Pension scheme advisers help businesses find the best scheme for their employees. They liaise with employers about the performance of company schemes, negotiate with other professionals, calculate the value of pension funds and issue statements.
Pensions managers oversee and train a team of advisers, ensuring that pension schemes operate effectively and correctly.
Pensions advisers and managers usually work 40 hours a week, Monday to Friday, but personal pension advisers may work evenings and weekends to fit in with clients. They are generally office-based but travel to see clients.
Salaries may range from £15,000 to over £65,000 a year, generally with performance-related bonuses on top.
A pensions adviser or manager should:
have good communication and numerical skills
enjoy working with people
be able to give impartial, unbiased advice
understand the relevant law
be interested in finance.
There are opportunities throughout the UK. Employers include banks, building societies, insurance companies and pension consultancies. There is keen competition for jobs.
While there are no set qualifications, degrees, HNCs/HNDs or BTEC qualifications in subjects like finance, accountancy or business management may be useful. Most pensions managers are graduates.
All pensions advisers and managers must gain professional qualifications before they can give advice. Entry requirements vary - some do not require academic qualifications. Pensions advice is often a second career.
Training is usually a combination of practical experience and professional qualifications, available from a range of professional bodies. They also do ongoing training to keep up with changes in the financial sector.
There are good opportunities for progression to more senior roles. Many advisers and managers become self-employed. Some people diversify into other areas of financial advice.
Personal pensions advisers help individuals to choose the most appropriate scheme. They carry out financial forecasts, advise on pensions and adjust existing schemes.
Pension scheme advisers help businesses find the best scheme for their employees. They liaise with employers about the performance of company schemes, negotiate with other professionals, calculate the value of pension funds and issue statements.
Pensions managers oversee and train a team of advisers, ensuring that pension schemes operate effectively and correctly.
Pensions advisers and managers usually work 40 hours a week, Monday to Friday, but personal pension advisers may work evenings and weekends to fit in with clients. They are generally office-based but travel to see clients.
Salaries may range from £15,000 to over £65,000 a year, generally with performance-related bonuses on top.
A pensions adviser or manager should:
have good communication and numerical skills
enjoy working with people
be able to give impartial, unbiased advice
understand the relevant law
be interested in finance.
There are opportunities throughout the UK. Employers include banks, building societies, insurance companies and pension consultancies. There is keen competition for jobs.
While there are no set qualifications, degrees, HNCs/HNDs or BTEC qualifications in subjects like finance, accountancy or business management may be useful. Most pensions managers are graduates.
All pensions advisers and managers must gain professional qualifications before they can give advice. Entry requirements vary - some do not require academic qualifications. Pensions advice is often a second career.
Training is usually a combination of practical experience and professional qualifications, available from a range of professional bodies. They also do ongoing training to keep up with changes in the financial sector.
There are good opportunities for progression to more senior roles. Many advisers and managers become self-employed. Some people diversify into other areas of financial advice.
Insurance Sales
Insurance business development managers are employed by insurance companies to build up business accounts through other agents. Their job is to promote their company's insurance products and key features, and encourage the agents to sell insurance to their customers or employees.
They try to attract new business, sometimes on a very large scale. A business development manager's work includes:
identifying new business opportunities
setting up meetings and preparing sales presentations to potential clients
telling agents about changes to products
setting up call centre support teams
tracking sales performance and profitability of accounts.
They usually work office hours, Monday to Friday. Although they generally have an office base, travel to visit clients is a big part of the job. Some cover a regional area. It is possible to work from home or work part time.
Salaries start from approximately £18,000, rising to £40,000 or more for senior business development managers.
Insurance business development managers need:
to know about insurance products and the industry
excellent communication skills
good organisational and negotiation skills
honesty and discretion
to be enterprising and show initiative
to enjoy meeting new people.
Most insurance companies, large and small, employ business development managers. There are job opportunities nationwide, giving insurers access to regional and national brokers. They are also employed by larger brokers to develop business accounts with corporate clients.
There are no formal entry requirements, but employers generally prefer some sales and insurance experience. Many people gain some experience in insurance before managing accounts, often as technicians or in marketing or sales support. Some large insurance companies take on graduates each year on a management programme.
Training is mainly on the job, though there may be in-house courses. Trainees also study for insurance qualifications. Mature applicants are welcome, and their previous experience may be useful.
Progress in their career often depends on how well their accounts do. They may move on to become a sales manager or area manager, or into senior management. Others move into related roles, such as marketing or training.
They try to attract new business, sometimes on a very large scale. A business development manager's work includes:
identifying new business opportunities
setting up meetings and preparing sales presentations to potential clients
telling agents about changes to products
setting up call centre support teams
tracking sales performance and profitability of accounts.
They usually work office hours, Monday to Friday. Although they generally have an office base, travel to visit clients is a big part of the job. Some cover a regional area. It is possible to work from home or work part time.
Salaries start from approximately £18,000, rising to £40,000 or more for senior business development managers.
Insurance business development managers need:
to know about insurance products and the industry
excellent communication skills
good organisational and negotiation skills
honesty and discretion
to be enterprising and show initiative
to enjoy meeting new people.
Most insurance companies, large and small, employ business development managers. There are job opportunities nationwide, giving insurers access to regional and national brokers. They are also employed by larger brokers to develop business accounts with corporate clients.
There are no formal entry requirements, but employers generally prefer some sales and insurance experience. Many people gain some experience in insurance before managing accounts, often as technicians or in marketing or sales support. Some large insurance companies take on graduates each year on a management programme.
Training is mainly on the job, though there may be in-house courses. Trainees also study for insurance qualifications. Mature applicants are welcome, and their previous experience may be useful.
Progress in their career often depends on how well their accounts do. They may move on to become a sales manager or area manager, or into senior management. Others move into related roles, such as marketing or training.
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