Within the past decade the economy has fallen and arouse dramatically. Many large corporations and businesses such as Ford, Chrysler, and G.M. plants have closed, while new companies building pipes and drills have sprang up and retailers have expanded. With all of this occurring in today’s society; businesses are on the hunt for good financial managers. Financial managers are the owls of a companies finances and everything in between them and their agencies. With a variety of other fields present, I personally feel financial management is the perfect fitting for me because I am a scholar in math, who loves dealing with money, and works well with others. There have been a bouquet of jobs that have interest me, but financial management has always been a statue because of its dependability and rapid growth. Within this paper I will key on the history and requirements of this career, description of job, and a reflection of a career in the financial management field.
Financial management has been in the United States for centuries now, on Sept 2, 1789 the U.S. Department of the Treasury was established but powers were limited. In 1974 a newer one of the Treasury’s major Bureau was created, Financial Management Service or (FMS). This job was established to manage the U.S. collection system and financial reporting, and guide federal programs in debt collection, investment management, and credit administration. During the month of September 2001 terrorist attacked and caused the New York stock exchange to shutdown for a short period of time. In estimation there was over $60 billion in insurance loss alone. In the year of 2005, Hurricane Katrina and Rita hit the U.S. and caused more than $200 billion in damage. The government financed millions of people through government regulated programs in which called on a great number of financial managers. Gregory Vaughan a Managing Director, and Private Wealth Advisor for the Morgan Stanley Private Office in Menlo Park, California. Originally from San Francisco, Vaughan received his bachelor’s degree in Business and Finance. To obtain a career in financial management one must obtain a bachelor’s degree. One must also have 5 or more years of experience in another business or finance occupation. Occupations such as an auditor, loan officer, accountant, financial analyst or securities sale agent are a plus.
Degree in economics, accounting, finance, or administration in business is the least required degrees need for a financial manager. In most cases now a lot of employers now look for people with a master’s degree in economics, finance, or business administration. These types of programs will assist a student in developing analytical skills and learn software and methods for a financial analysis.
During my research I have found that Jackson State University, Belhaven University, and Alcorn State University are just a few to name of local colleges located near me in the state of Mississippi that of the financial...