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Business Finance?

What are some careers I can be involved in under the Business Finance category and some tips for the long run?

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Nicholas’s Answer

Business Finance can span a variety of different careers. Each has their own flavor, income levels and work demands. Some of the career options include (but are not limited to):

- Corporate finance - there are many roles that fall within this category though in general this career path includes working within the finance department at a company and conducting work such as financial analysis, modeling, budgeting, etc.

- Investment Banking, Private Equity, Venture Capital - these types of careers revolve around analyzing and identifying business opportunities for investments, purchases, mergers and sales.

- Financial advisor/personal finance - you'll work with clients to help them organize and plan their financial lives and create plans to help them achieve financial goals.

- Stock broker - the most visible example of this are the individuals who work on Wall Street, though you don't need to work on Wall Street to be a stock broker.
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Kylyn’s Answer

Hi,

I have a Bachelors degree in Finance and I joined an internship program during college that gave me 2 summer internships during college, and then after college I rotated throughout 4 different finance related roles. These were all corporate finance roles.

-My first internship was an analytics role to support the internal audit team
-My second internship was in inventory accounting
-My first full time role was on a team that supports the Financial Planning and Analysis team
-My second rotation was in Miscellaneous Billing
-My third rotation was in revenue account
-My final rotation was in Financial Planning and Analysis
-My current role is in internal audit

I think this shows that there is a broad range of roles you can have with a finance degree, especially in a larger corporation.

My tips for the long run are:
-Learn about data analytics because this can help you support your team and support your career
-Take ownership of your roles, take the extra step to be a subject matter expert in your space
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Polina’s Answer

Hi Heni,
Here are some different areas of Business Finance that you can specialize in:
- FP&A (financial planning and analysis) - delivering reporting solutions to the Finance and Business community that are accurate and timely.
- Regional/Country Finance - responsible for the P&L (profit and loss statement also known as the income statement) of a certain geographical region. This includes predicting future trends like sales and costs and making sure accounting books are properly recorded at the end of each month.
- Finance related to a specific business unit - focused on a specific product or group of products or services. Usually includes several geographical areas where this product/service is sold.
- Expense management (also known as OPEX management) - responsible for management of expenses like employees' salaries, travel, and others.
- Credit and Collections - determine financial conditions of customers; recognize trends of non-paying customers; analyze risks of customers.

All these areas require knowledge of the financial statements like income statement and balance sheet. Knowledge in accounting is also important and the degree of it varies based on the specific position.
Some tools used are Microsoft Excel, Power BI and SAP accounting products.
Usually, professionals hold a degree in business or finance and/or a financial certification like CPA, CMA, CFA or other.
I'd like to recommend the website "Investopedia" if you'd like to learn more.
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Susan’s Answer

Business Finance can lead to Banking Careers : Retail, Commerical ,Investment, but there is also risk management , insurance and compliance aspects. This could also lead into CPA job if that is were your area of interest leads to.

Additional areas are in Corporations that include product and services , or working in the CFO office.

Skills include analytical, excel or newer tools such as smartsheet .

Intership could be many to see where you would like to proceed or eliminate.

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Veselinka’s Answer

you can be specialized in OPEX or in CAPEX or be responsible for the entire P&L (profit and loss) of the company, or specific business line.
You will analyze the actual results, prepare reports to management which will help them steer the business. Actuals and trend analyses are also input in the planning processes. You will identify risks and opportunities and propose measures for improvement.
It is pretty broad field very interesting...you can also be responsible for contract management (harmonization of financial terms and conditions and evaluation of fin. impact)
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