Education is Everything in the International World of Finance Management
by Joe Cooper
Career School Directory Columnist
June 20, 2006
Quarterly reports, forecasting, the general ledger--these are the responsibilities of those in finance, a distinct breed of educated and ambitious professionals who care not only about the bottom line, but also the people it serves. Jobs in finance come with high degrees of competition as well as accountability, and a bachelor's is required for upwardly mobile careers.
Hope Wright is a Finance Manager for Stryker Spine in Allendale, NJ, the medical device company where she has been working for two years. Previously she was a Senior Financial Analyst for Reckitt Benckiser (based in London) for two years, and a Financial Analyst at Cendant Corp. (a Fortune 500 company), both in Parsipanny, NJ. During school, she interned at Wall Street firms such as LJ Altfest.
Over coffee at her New Jersey office (and after 6:00pm, when her string of meetings ended), Hope talked about her professional life in finance and why she chose it.
CSD: How busy are you right now?
HW: Busy. Very busy. Extremely busy.
CSD: What made you choose Finance?
HW: I like numbers, but I also like to interact with people. Finance provides you the opportunity to do both, whereas with accounting, you are more numbers-focused. You don't get as much opportunity for analysis.
CSD: What degree(s) do you hold?
HW: I have a Bachelor's of Science in Accounting and Information Systems from Lee University in Cleveland, TN. I also have an MBA in Finance and International Economics from Pace University in downtown Manhattan.
CSD: Did you earn your degree full-time or part-time?
HW: Full-time for both.
CSD: Did you consider distance learning when getting your master's?
HW: No, but if I pursued further education now, I would.
Only 3 out of every 10 finance managers work in the finance industry; the rest work in other industries, and in almost every location in the world. Find schools.
CSD: So why the emphasis in International Economics?
HW: That was more of a personal interest to me. I'm fascinated by other cultures and how their balances and payments work. It's very rare that you'd go to a company now that doesn't have offshore offices.
CSD: So do you look for jobs with travel?
HW: Not specifically, but I would love to go overseas and work for a couple of years.
CSD: Anywhere in specific?
HW: London or Paris... a place that is comparable to New York, where I am used to, but has a different cultural flavor. Baby steps toward exploring other, more contrasting areas.
CSD: How did you find your first job in finance?
HW: Through a headhunter, actually. I told her I was looking for a place where I could gain great exposure to across-the-board analysis. Someplace where I could work with marketing, product development, etc. Someplace where I could gain well-rounded experience and exposure.
In the finance industry, the ratio of male to female managers is almost equal. Over 48% of managers in finance are women. Find schools.
CSD: How does a typical day go in your job?
HW: You know, it's chaotic. A lot of ad-hoc requests, a lot of meetings, a lot of team exercises, cross-functional stuff. A lot of problem solving, because we're short-staffed, so you have to find a lot of creative ways to solve problems. You have to dig deep sometimes, I think. There's also an international aspect here. We work a lot with the people in Bordeaux, on a daily basis.
CSD: What else do you want to accomplish in your career?
HW: I definitely want to do an international stint for a few years. Ultimately, I would like to be the CFO of a global consumer products company.
CSD: What other education would you pursue?
HW: I really need to get my CPA. Because, you know what, it's really difficult to move up in finance without it. It's kind of the backbone of any CFO. It may even be more important than an MBA.
CSD: How has being educated helped you succeed in your job role?
HW: You just have more exposure, you've been through case studies that simulate real life, and you have opportunities (from a book sense) to see situations beforehand. The best things for me were the international programs my education offered me. I did a NAFTA program where I worked for the consulate for a summer, with Canadian students and Mexican students, to facilitate trade. It really helped me understand finance on a global scale. Huge help in that way.
Bachelor's degrees go without saying. Master's degrees are more and more common. For career-oriented financial managers like Hope, more education will be needed in the future. Earning your CPA (Certified Public Accountant) or CFP (Certified Financial Planner) certifications are popular ways to increase job prospects and move upward. With degree and certification programs offered just about anywhere, even online, education is more accessible than ever.
Sources
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About the Author
Joe Cooper is a freelance education and technology writer and edits medical literature. He holds a bachelor's in American Literature from UCLA.
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