Entry-level financial analysts regularly crunch numbers to determine business trends.
Although the master's in business administration (MBA) has become a standard degree for many entry-level business positions, a bachelor's degree is still sufficient in many others. Entry-level positions in the business vary across a wide variety of possible career fields. Duties of entry-level business professions also tend to differ according to the needs of the business.
Financial Services Representatives
Financial services representatives are sales professionals who have received licensing in the financial services industry to sell products like stocks, bonds and mutual funds. They are sometimes referred to as stock brokers or financial advisers. Required education for this field is usually a bachelor's degree. Although a business degree is not required by all financial firms, most hire applicants with bachelor's degrees in business, economics, finance or marketing. Although a business degree can be helpful, employers sometimes look for other qualities indicative of a good salesperson. For example, applicants must be able to withstand a high amount rejection in order to be successful in the field. Applicants in this field must be able to pass the Series 7 and either the Series 66 or 63 exam for licensing by the Financial Industry Regulatory Authority, or FINRA.
Management Analysts
One entry-level business career possibility is in the field of management analysis. Management analysts are consultants who help businesses assess their efficiency and profitability. They often suggest ways to improve these by recommending changes in the structure, organization or practices of the business. The U.S. Bureau of Labor Statistics expects higher-than-average job growth in this sector of the business field through 2018. Employment requirements in the field vary among the different hiring firms and businesses. Most require a bachelor's degree in the field of business, while others require an MBA. Certification in the field is not necessary, but it is offered by the Institute of Management Consultants USA, Inc. The median annual salary of analysts and consultants in this field was $73,570 as of May 2008.
Financial Analysts
Financial analysts also serve as consultants to businesses. Financial analysts examine both long- and short-term financial trends and advise businesses on their implications so that the decision makers in the company can make an informed decision about which direction the company should go. Like financial services sales representatives, financial analysts must be familiar with a wide variety of financial service products like bonds, mutual funds and stocks. The Bureau of Labor Statistics expects job growth in this field to increase by 20 percent through 2018. A bachelor's degree is the minimum education required for entry-level positions as a financial analyst, but many larger corporations require an MBA with a concentration in finance. Like financial advisers, financial analysts are heavily regulated by FINRA because the projections they make can affect large-scale financial decisions. Entry-level employment in the field can eventually lead to certification as a chartered financial analyst, the highest position in the field. The average salary of financial analysts in the U.S. as of May 2008 was $73,150.
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