Job Responsibilities
My role as Financial Analyst is more Accounting than Finance. I
help support the month end accounting processes,
reconciliations, and manage the capital budgeting process,
include monthly reporting for all capital spending.
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Job Requirements
Basic business education - mine is undergrad in Accounting and
Information systems. Professional certifications help. To
further augment my knowledge, skills, and abilities, my graduate
degree is honing in on the Finance aspects of business. Quality
of classes is good - a lot is what you (the student) makes of
it. So far, no difficulties in getting the classes I want - I
always make sure I register on the first day of registration.
Grading varies by professor. Workload varies by course - the
Finance courses are the toughest and require the most time /
effort.
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Uppers
Constant challenge, new issues surfacing regularly, but within the same
environment, so when attempting to solve a particularly challenging technical
issue, that has not been addressed within your current industry, you look for the
parallels in other industries - this not only enhances your skills and abilities
with current employer, but also makes your skills transferable, should that event
ever arise.
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Downers
Having to explain the technical issues to managers in order to
get their buy-off. Many have been promoted (or kissed their way
to their current positions and don't have the technical
competence to 1) determine their position, much less 2) defend a
technical position
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Lifestyle
Work hours can occasionally be lengthy; the company used to have regular (two or
three times a year) social events, which have declined in recent years, much like
morale; the company is very big on diversity, perhaps overly focused on it,
rather than skills - A big plus for minorities with solid experience; Dress codes
are still somewhat relaxed in the Pacific Northwest.
Most important recommendation - know your own personality type. Do you like
working in big offices or small? This can be key to building success.
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Compensation
Started position during a down employment cycle - base
compensation was adequate (commensurate with market), and target
bonus was set at approx 2-3% of base compensation. Stock options
were adequate, but nothing special, benefits were also adequate
but nothing special.
Over the past several years, compensation (as compared with
market has slipped. Due to the up (employee's) market,
compensation has slipped quite substantially (20-30% below
market) - target bonus continues to be 3-4% of base
compensation; stock options continue to be adequate; benefits
have slipped - fortunately, as a relatively healthy person, it
is not as significant for me as for some others (not a
characteristic that will determine whether I stay or seek new
employment...yet)
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Advice to Jobseekers
For those considering this field, I would try to look for some
contract work while still in school. This can give you a flavor
of the variety of accounting and finance work that is available
in the market, and help you get in touch with what motivates and
challenges you.
I think the job outlook for accounting and finance professionals
has increased tremendously. Current students should have no
problems finding work - the challenge will be in making the
right match with work that they will love for the long term.
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