Notably, people can learn better money management skills through financial literacy training. Therefore, studying finance is a fundamental academic obligation for people interested in acquiring financial management skills. It agreed that managing money is critical for accomplishing development activities. These are some of the issues, which influenced my decision to pursue a profession in finance. I have always been interested in developing skills that can help me undertake financial analysis as well as make sound investment decisions (Megginson, Smart & Lucey, 2008). Financial literacy is critical because of the concrete investment skills it provides. (Megginson, Smart & Lucey, 2008). The training is also critical for gaining employment in a key financial institution.
The first degree I ever received in my life was in banking and accounts. I joined the college immediately after completing high school studies to develop a strong foundation for my profession. The undergraduate training provided me with diverse skills, which have become my strengths (Megginson, Smart & Lucey, 2008). I also took up a part-time job in a nearby dispensary where I worked as an accounts assistant. Upon my graduation, I was employed in the same dispensary working as the finance assistant. The training together with the work experience has become my strength to further my studies in finance. I am confident that my background prepared me for similar training at a higher level (Howard, 2008).
I got the inspiration to study finance from personal experiences and individuals I interacted with as I grew up. In the first instance, I drew my inspiration from observing my parent’s financial management skills. My father earned a lot of money more than my mother did. However, my mother who is trained in finance and business management utilized her earnings better than my father did. Indeed, my father normally lamented that he did not understand where his money went. Furthermore, I had a friend in the neighborhood whose father worked as a finance director in a bank. The family was highly successful than ours. These experiences were my inspirations to study finance to enhance my financial management skills as well as find an opportunity to work in a large financial institution.
The salary statistics in the field of financial services have shifted repeatedly because of its dynamic nature. The average yearly salary for people working at the level of financial directors and financial managers is approximately $102,000. This is based on an analysis of the market statistics (Howard, 2008). Furthermore, some institutions have paid their directors the highest salary in the marketplace. The highest recorded salary statistics is $170,000. At the same time, some institutions have offered their financial director’s low salaries such as $60,000. The determination of salary scales normally depends on the nature of work and the size of the institution (Howard, 2008).
Financial managers are normally in charge of providing financial recommendations to their companies or in private practice. They aspire to see that people are capable of making sound investment decisions. The finance managers also offer their clients advice on budgeting to ensure that available resources support business decisions (Shim & Siegel, 2008). They also grant and infer financial information, monitor financial flows, and predict future scenarios. The finance managers are also in charge of undertaking diverse activities to protect their clients against the risks in the marketplace.
References
Howard, K. (2008). CFA 100 success secrets – 100 most asked questions: The missing CFA exam, course, preparation and review introduction guide. Dayboro, QLD: Emereo Pty Ltd.
Megginson, W. L., Smart, S. B., & Lucey, B. M. (2008). Introduction to Corporate finance. London: Cengage Learning EMEA.
Shim, J. K., & Siegel, J. G. (2008). Financial management. Hauppauge, N.Y: Barron’s Educational Series.