14 answers
Jovina
Student
Spokane Valley, Washington
3
Questions
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What does success look like in this position, and how do you measure it?
#career #finance #money
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14 answers
Meggan Zabel
Business Management
5
Answers
Chicago, Illinois
Updated
Meggan’s Answer
Success can be defined in many ways but should be based on achievement of the specific goals that you have set in your role. In most organizations, this is a collaboration between you and your manager with regular check-ins to gain valuable feedback and assess your performance. A goal may be to pass a necessary licensing exam required in certain finance jobs (like the Series 7). Another goal may be to gain experience and advance your career whereby a promotion can be a great measure of success. Another goal may be to earn more than you did the year before by taking on more responsibilities and exceeding expectations on your assignments. In all cases, the power rests with you to define and achieve continuous success through hard work and focus!
Pooja Sharma
Executive Director @ UBS
4
Answers
Nashville, Tennessee
Updated
Pooja’s Answer
Success and its measure is a relative term. It depends on who is gauging and measuring a success. For a student - success would be get good grades and its measure is to have a great GPA and got in a good college. For a professional, getting on with the professional goals, achieving them is a success.
Jim Poucher
Operations Management
4
Answers
Updated
Jim’s Answer
Hello Jovina - I agree with many of the previous responses you received in that the definition of success varies by person. I believe in transparency and honesty so the first thing to do is have a direct conversation with your employer / boss / interviewer / etc on what they define as success for the role you are in and then work together on merging the additional goals that are also important to you. I always found the following to be true - Take on challenging roles, not always the ones you initially have the exact skills for, surround yourself with good people, and have fun doing it. Success.
Andrew Kwon
Trader
4
Answers
New York, New York
Updated
Andrew’s Answer
Success is purely subjective but most jobs in finance have a step-like learning curve to them so setting incremental goals is best for getting a good gauge of your personal progress. Consistent conversations with managers/colleagues whose feedback is important on a day-to-day basis is also valuable and can help recalibrate your goals/expectations as needed
Joseph Dillon
Financial Advisor
6
Answers
Jersey City, New Jersey
Updated
Joseph’s Answer
Success should be a combination of your personal goals and your company's goals. As an employee of your company, you are working on a team that has a defined goal in which every employee should apply the same amount of effort to accomplish. However, your personal goals should exceed that. Each individual has his/her own personal goals and opinion of "success." The only person that can achieve that desired success is yourself, and no one else can set that bar for you.
Calvin Saboorian
Director - Real Estate
34
Answers
New Orleans, Louisiana
Updated
Calvin’s Answer
I agree with everything that has been said in previous answers. Success is measured differently, based on your situation. In business world individual success is tied to the collective team success. You may be successful if you met your individual goals, but not if you did not achieve the team objectives.
Success to me is when you are done with the day, you can look back at say, wow, I made someone else's life better today!
Success to me is when you are done with the day, you can look back at say, wow, I made someone else's life better today!
RESHMI ARAVIND
2
Answers
Updated
RESHMI’s Answer
Financial success means very different things to different people.To some,it means freedom from debt and others it means full financial independence. Measuring the finacial success also depends on what your individual goals are:example networth of every year,for an institution it can be net revenue etc.
Fabian Gong
Finance Professional
5
Answers
New York, New York
Updated
Fabian’s Answer
Success can be defined in many way. Even financial success has multiple meanings. While some people define financial success as financial freedom, financial success can also simply be putting forth consistent financial effort so that you're in a better financial place than you would have been without that consistent effort.
Jordan Baron
Wealth Management
7
Answers
Miami, Florida
Updated
Jordan’s Answer
People often define success differently, and in my experience measuring success is often a personal decision that everyone looks at differently. Everyone is motivated by different things (salary, job title, passion, helping others) which can often impact how one looks at success.
My best recommendation would be to try and remember that how you view and measure success will likely change over the course of your career. In the beginning years, success might be tied to how much knowledge you gain and what areas you are exposed to. As you progress further into your career, success can for some can be more closely tied to job titles and salaries, while others may judge their success based on how passionate they are about the work they're doing, or how close they are to accomplishing a larger goal they have.
Regardless of how you decide to define success, I would encourage you to be open minded and not let other people's definition impact your own.
My best recommendation would be to try and remember that how you view and measure success will likely change over the course of your career. In the beginning years, success might be tied to how much knowledge you gain and what areas you are exposed to. As you progress further into your career, success can for some can be more closely tied to job titles and salaries, while others may judge their success based on how passionate they are about the work they're doing, or how close they are to accomplishing a larger goal they have.
Regardless of how you decide to define success, I would encourage you to be open minded and not let other people's definition impact your own.
william dougherty
Assistant Market Head on management Team
1
Answer
Philadelphia, Pennsylvania
Updated
william’s Answer
Hello, much like the previous inputs, success is measured in so many ways. There are externals, such as, your organization or immediate team leader that will more or less lay out what measure of success is optimal or expected and enlist your efforts to accomplish. Then, there are internal measures of success, what gives you great pride and satisfaction in achieving a self imposed goal. One can be financially rewarding and the other emotionally rewarding. But both rewarding. Once you place yourself in a career find a mentor in the organization or industry that will help you understand and build pathways to success. Their experience is call wisdom, take advantage. On a personal level, we all answer to a higher mentor and the best measure is how you feel you could state proudly how you bettered some persons day.
Be kind and patient to yourself and authentic to others.
Be kind and patient to yourself and authentic to others.
Gloria Ortiz
Instructional Designer
845
Answers
Irving, Texas
Updated
Gloria’s Answer
Hi Jovina,
Success is often in the eye of the beholder and based on the situation. The best kind of success metric is one that you create for yourself. I have teammates at work who measure success in a variety of ways: the ability to be promoted quickly to a desired role, salary, wining awards, getting assigned high profile projects, and being considered an expert that others should go to. Success metrics will vary over time as well. When I was younger, salary was a primary factor. It is an easy way to keep "score". For me, salary allowed me to have the living situation that I wanted. Once I was able to meet that goal regularly, an increase in salary became less important. After a while, working for a well known company became a success metric for me. I was proud to work for large, well-respected organizations. I am still there in many way. Now I feel successful as a person by the amount of time that I volunteer to help others. My company facilitates that as well.
Gloria
Success is often in the eye of the beholder and based on the situation. The best kind of success metric is one that you create for yourself. I have teammates at work who measure success in a variety of ways: the ability to be promoted quickly to a desired role, salary, wining awards, getting assigned high profile projects, and being considered an expert that others should go to. Success metrics will vary over time as well. When I was younger, salary was a primary factor. It is an easy way to keep "score". For me, salary allowed me to have the living situation that I wanted. Once I was able to meet that goal regularly, an increase in salary became less important. After a while, working for a well known company became a success metric for me. I was proud to work for large, well-respected organizations. I am still there in many way. Now I feel successful as a person by the amount of time that I volunteer to help others. My company facilitates that as well.
Gloria
Chiranjib Mazumdar
IT Architect
32
Answers
Kolkata, West Bengal, India
Updated
Chiranjib’s Answer
I wish you would provide some clarity on how you measure success. Is it just about the money? Or is it more?
Measuring success through money could mean you have achieved financial independence, which every individual should ideally achieve.
Again, if you are in a job, then success could mean being able to deliver as per commitments, going above and beyond to not only satisfy but delight your clients.
If you ask me, I measure success by how much difference I am able to make to someone's life, who can provide me no return whatsoever.
Measuring success through money could mean you have achieved financial independence, which every individual should ideally achieve.
Again, if you are in a job, then success could mean being able to deliver as per commitments, going above and beyond to not only satisfy but delight your clients.
If you ask me, I measure success by how much difference I am able to make to someone's life, who can provide me no return whatsoever.
Praveen Reddy Kethireddy
IT- AD
1
Answer
Weehawken, New Jersey
Updated
Praveen Reddy’s Answer
Success is different for different people and at different stages. For Students the success to get into a good colleges and for the early birds in career - Success is achieving new heights in career, good earning, daily learning, collaboration, team bonding and finally work life balance.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
5265
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Jovina!
Success in the Position and How to Measure It
Success in a position can be defined in various ways, depending on the specific role and organization. In the context of a finance-related position, success typically involves achieving key performance indicators (KPIs) that align with the goals and objectives of the role. Here are some common metrics used to measure success in finance positions:
Financial Performance: One of the primary ways to measure success in a finance position is through financial performance metrics. This includes factors such as revenue growth, profitability, cost reduction, and return on investment (ROI). Meeting or exceeding financial targets set by the organization is a clear indicator of success.
Accuracy and Timeliness: Another important aspect of success in a finance role is the accuracy and timeliness of financial reporting and analysis. Ensuring that financial statements are prepared accurately and delivered on time is crucial for decision-making within the organization.
Compliance: Compliance with regulatory requirements and internal policies is essential for success in a finance position. Adhering to accounting standards, tax regulations, and internal controls demonstrates professionalism and integrity in financial management.
Strategic Contribution: Success in a finance role also involves making strategic contributions to the organization’s overall goals. This may include providing insights based on financial analysis, participating in strategic planning processes, and supporting business growth initiatives.
Stakeholder Satisfaction: Building strong relationships with stakeholders such as investors, clients, and internal departments is another measure of success in a finance position. Effective communication and collaboration can lead to positive outcomes for the organization.
Professional Development: Continuous learning and professional development are key indicators of success in any position, including finance roles. Pursuing certifications, attending training programs, and staying updated on industry trends demonstrate a commitment to personal growth and excellence.
Team Collaboration: For leadership roles or positions that involve managing teams, success can also be measured by how well you foster teamwork, mentor team members, and drive collective achievements towards common goals.
In conclusion, success in a finance position is multifaceted and can be measured through financial performance, accuracy of reporting, compliance with regulations, strategic contributions, stakeholder satisfaction, professional development, and team collaboration.
Top 3 Authoritative Sources Used:
Harvard Business Review: The Harvard Business Review provides insights into best practices for measuring success in various business functions, including finance roles.
Deloitte Insights: Deloitte Insights offers research reports and articles on key performance indicators (KPIs) for measuring success in finance positions.
Investopedia: Investopedia is a reputable source for information on financial metrics and performance measurement techniques commonly used in the finance industry.
God Bless,
JC.
Success in the Position and How to Measure It
Success in a position can be defined in various ways, depending on the specific role and organization. In the context of a finance-related position, success typically involves achieving key performance indicators (KPIs) that align with the goals and objectives of the role. Here are some common metrics used to measure success in finance positions:
Financial Performance: One of the primary ways to measure success in a finance position is through financial performance metrics. This includes factors such as revenue growth, profitability, cost reduction, and return on investment (ROI). Meeting or exceeding financial targets set by the organization is a clear indicator of success.
Accuracy and Timeliness: Another important aspect of success in a finance role is the accuracy and timeliness of financial reporting and analysis. Ensuring that financial statements are prepared accurately and delivered on time is crucial for decision-making within the organization.
Compliance: Compliance with regulatory requirements and internal policies is essential for success in a finance position. Adhering to accounting standards, tax regulations, and internal controls demonstrates professionalism and integrity in financial management.
Strategic Contribution: Success in a finance role also involves making strategic contributions to the organization’s overall goals. This may include providing insights based on financial analysis, participating in strategic planning processes, and supporting business growth initiatives.
Stakeholder Satisfaction: Building strong relationships with stakeholders such as investors, clients, and internal departments is another measure of success in a finance position. Effective communication and collaboration can lead to positive outcomes for the organization.
Professional Development: Continuous learning and professional development are key indicators of success in any position, including finance roles. Pursuing certifications, attending training programs, and staying updated on industry trends demonstrate a commitment to personal growth and excellence.
Team Collaboration: For leadership roles or positions that involve managing teams, success can also be measured by how well you foster teamwork, mentor team members, and drive collective achievements towards common goals.
In conclusion, success in a finance position is multifaceted and can be measured through financial performance, accuracy of reporting, compliance with regulations, strategic contributions, stakeholder satisfaction, professional development, and team collaboration.
Top 3 Authoritative Sources Used:
Harvard Business Review: The Harvard Business Review provides insights into best practices for measuring success in various business functions, including finance roles.
Deloitte Insights: Deloitte Insights offers research reports and articles on key performance indicators (KPIs) for measuring success in finance positions.
Investopedia: Investopedia is a reputable source for information on financial metrics and performance measurement techniques commonly used in the finance industry.
God Bless,
JC.