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Northeastern University’s Online Master of Science in Finance

Do You Pay a Retainer Fee Up Front With a Bankruptcy Lawyer?

Paying a retainer fee upfront for a bankruptcy lawyer is standard practice. Generally, lawyers will not begin any work for the client or consider themselves the client’s legal representative without receiving some form of payment. Bankruptcy lawyers are particularly careful about the payment fee structure because their fees must be disclosed to the court. The upfront fee payment varies depending on the lawyer and the amount of work required to successfully handle the case

Carefully review the bankruptcy lawyer's retainer agreement before paying retainer fees.

Consultation

  • Set up initial consultations with different bankruptcy lawyers. Many bankruptcy lawyers provide free initial consultations with potential clients. Find out if there is any paperwork that should be brought to the meeting or any forms you need to fill out beforehand. The more information the attorney has regarding your financial situation, the easier it will be for him to provide an estimate of the legal fees he will charge.

Retainer Fees

  • Ask the lawyer to explain the difference between the retainer fee and total amount of attorney fees for the case. Discuss the amount of the retainer fee, the type of work the attorney will start to perform once he receives the fee, and acceptable methods of payment. Some attorneys may require a small retainer fee upfront to start fielding calls from creditors and start collecting documents needed for the bankruptcy case. Attorneys may not begin working on the case until they receive a substantial portion of the total fee. Find out the attorney’s refund policy before giving him any money. It is advisable to know how much money you will get back if you decide not to file for bankruptcy or if you decide to change attorneys.

Payment Plan

  • Bankruptcy lawyers know that many people interested in bankruptcy do not have enough money immediately available to pay for legal services. Talk about the possibility of setting up a payment plan to cover the retainer fees and any additional fees associated with the case. Provide full disclosure to the attorney regarding any pending lawsuits, wage garnishments or foreclosure proceedings that may occur. Those facts could affect how soon payment must be received to file the case and start bankruptcy proceedings.

Retainer Agreement

  • Carefully review the retainer agreement after choosing a particular lawyer. The retainer agreement should provide a breakdown of each fee amount, what it covers and the legal services the lawyer will provide during the case. Make sure the payment terms included in the retainer agreement directly reflect the arrangements discussed with the lawyer. Maintaining clear communication with the lawyer will help prevent any future misunderstandings.

How to Change Attorneys in Bankruptcy

Deciding to change attorneys in the middle of a bankruptcy is a serious decision. You should try to address and resolve your concerns with your current attorney before you start looking for a new one.However, if your current attorney doesn’t return phone calls or respond to emails, if she makes important decisions regarding the case without consulting you, if she loses documents previously submitted or doesn’t meet court deadlines, you may have no other choice but to find a replacement.

Instructions

  1. Interview attorneys to find the right replacement. Set up appointments where you explain your current situation and the problems you have with your current attorney. Respond to the questions the attorney asks regarding the status of your bankruptcy case. The new attorney will want to get as much information as possible to ascertain if he can provide you with the help you need. Choose a bankruptcy attorney who is patient and willing to respond to any questions or concerns you may have.
  2. Discuss the attorney’s fees for taking on your case. Find out how soon the new attorney can begin working on the case, and work out payment arrangements. You want to ensure the new attorney will have the time and resources to properly handle your case at its current stage within the bankruptcy process. Sign the retainer agreement, which should state exactly how much the attorney will charge and include an explanation of the legal services the attorney will provide.
  3. Inform the old bankruptcy attorney in writing via email and a mailed letter that you will no longer need his services. Let him know that you have retained new counsel to handle your bankruptcy case. Request that the attorney forward all of the paperwork you provided to him and any documents he received from creditors, the trustee or bankruptcy court to either you or your new attorney. Provide the mailing address where the paperwork should be sent. You can speak with the old attorney about your decision to terminate the attorney-client relationship, but you should also notify him of your decision in writing.
  4. Contact the newly hired attorney and inform him that the old attorney has received written notification of the termination. The new attorney can draft a motion to substitute attorney or draft a stipulation to substitute attorney. The old attorney also has the option of filing a motion to withdraw as legal counsel with the bankruptcy court. The requirements for the information and signatures that need to be included in a motion to substitute attorney or a motion to withdraw may vary for each district. Speak with your new attorney to find out which documents need to be submitted to the court, and which documents you need to sign to notify the bankruptcy court of the attorney change.
  5. Check with the new attorney about if or when the bankruptcy court will approve the attorney change. If the bankruptcy court approves the substitution, the court docket will be updated with the name and contact information of the new attorney. Any documents or notices from the bankruptcy court, bankruptcy trustee and creditors will be forwarded to your new attorney from that point on.

How to Choose a Bankruptcy Attorney

Bankruptcy is a huge step and it’s probably going to have some effect on your life for years to come. It’s definitely not the kind of legal proceeding you might try to handle on your own. But if you’re considering filing for bankruptcy, you probably don’t have a lot of cash on hand to waste on the wrong lawyer. This makes finding the right one critical

An attorney and two prospective clients.

He Specializes in Bankruptcy

  • There’s an old saying that you wouldn’t hire a dentist to remove a brain tumor, and the same idea applies to different areas of the law. Some lawyers dabble in all sorts of cases, but true expertise usually requires specializing in a certain area. An attorney who works mainly — or only — in bankruptcy law will be familiar with your state’s laws; more importantly, he’ll have a track record with your area’s bankruptcy trustees. He’ll know their quirks and how they’re likely to react in certain situations, and this can be invaluable. An attorney who handles mostly Chapter 7 bankruptcies might not be the best choice if you want to file a far more complicated Chapter 13. Likewise, it makes no sense to pay a Chapter 13 lawyer — who will usually charge more — to handle a simple Chapter 7 proceeding.
    • As your bankruptcy case progresses, you’re going to have a lot of questions. Some attorneys are more available to their clients than others. It’s normal that you’ll probably spend a lot of time with your lawyer’s paralegal, but sometimes you’ll really need to speak with the attorney himself. When you call his office the first time, ask to speak with him so he can answer a question or two. You probably won’t be put through to him because if he’s as good as you need him to be, he’s most likely in court or with another client. The key is whether he calls you back, and, if so, how long it takes him to do so. The norm he exhibits with a potential new client speaks volumes about how accessible he’ll be after you’ve paid him and your case is underway.

    You’re Comfortable with Him

    • Filing for bankruptcy involves disclosing intimate, personal details of your life and finances. On top of that, you may be scared and stressed. If you’re the type who needs a lot of hand-holding, retaining a bankruptcy lawyer who is gruff and all business probably won’t suit your needs. Even if he’s the perfect choice in all other areas, your selection might turn an already difficult situation into an ordeal.

    Cheapest Isn’t Always Best

    • Because you’re already low on funds, the cost of hiring an attorney is of paramount importance. Here’s the good news — the bankruptcy laws in most states cap the amount a lawyer can charge you for bankruptcy proceedings. Be wary of super low fees — this might indicate that the lawyer has so little experience, he doesn’t realize he’s entitled to more. He may be desperate for a client — any client, in any area of the law. By the same token, if your bankruptcy is very simple and you have few assets to protect, you should expect a lawyer to charge you less than he would for a more complicated case. Bankruptcy attorneys usually charge a flat fee, but if a creditor objects to some aspect of your case and you end up in court, you’ll probably have to pay more for this service. It doesn’t happen in most run-of-the-mill bankruptcy proceedings, so it can’t be anticipated when the lawyer first quotes you a fee.

What Is the Job of a Currency Analyst?

A currency analyst performs basically the same jobs as a financial analyst. However, these individuals specialize in making predictions about the value of foreign currencies compared to the U.S. dollar

Currency analysts must work with many foreign currencies.

Education

  • To be a competitive candidate for a currency analyst position, you must first possess a bachelor’s degree. Typically this degree should be in international markets, finance, statistics, business, accounting, economics or another relevant field. Other recommended areas of study include risk management, options pricing and bond valuation.

Skills

  • Currency analysts must be able to think analytically. Additionally, they must have thorough computer and problem-solving skills. These professionals need to be able to work well alone but also need to have strong communication skills and be confident making presentations to large groups. They must pay strong attention to detail, be interested in foreign economies and be research-driven.

Duties

  • Currency analysts often work with other financial officers to predict the prosperity of foreign markets and the value of foreign currencies compared to the dollar. This can help determine risk management for a company, potential investments or merely aid them in making business decisions that involve overseas production. Based on their research, currency analysts will typically make presentations about their findings and then make suggestions for action. Often they help lead these initiatives if the company or client takes their suggested plan of action.

Work Environment

  • Most currency analysts work in comfortable office settings. Typically they have access to information services and high-tech computer systems. At times they are required to travel to financial meetings to speak or simply attend. According to the U.S. Bureau of Labor, people holding this position often work long weeks of 50 to 60 hours.

Salary

  • According to Payscale.com, the average currency analyst brings in between $44,120 and $63,100 per year. This equates to an hourly income that ranges between $12.21 and $36.32 per hour. As with all salary information, however, these figures can vary based on geographic location, employer and years of experience.

 

 

Finance Job Interview Questions & Answers

Careers in finance span a large number of positions, in commercial banking, financial planning, private equity and more. As you prepare for your job interviews, practice possible questions and answers to help you compose yourself. You'll formulate the best answers before your finance job interview so you can get the career you want.

Finance careers work with money and mathematics to help corporations, small businesses and individuals.

Biography

  • “Tell me about yourself.” This is often one of the first questions a hiring manager will ask during an interview. Although it may seem personal, a potential employer doesn't want to hear your life story. Instead, tell him about yourself as it relates to a career in finance. Briefly list your college education and the positions you've held recently.

Experience

  • “How has your education prepared you for this career?” Employers want to know that you are proficient in the various math principles involved in financial careers. List the classes that you took that can help you with the job position. Spend time discussing the subjects that you excelled in over all others. If you had a 4.0 grade point average in advanced accounting, mention this to the hiring manager.

Objective

  • “Why have you chosen a career in finance?” Avoid answering this question with a personal anecdote. Show your enthusiasm for the career with your answer. Even if you got into finance because your parents made you, it's best to leave this out. Example: “My love for numbers and organization led me to an education in investment banking. I've wanted this as my career ever since.”

Positive Attributes

  • “What are your strengths?” Limit your answer to one or two examples for this classic interview question. Explain your strengths in finance, such as attention to detail or multitasking. Tell a brief story of how you used it in previous finance positions. Don't list more than two strengths as this may be perceived as over-confidence by the hiring manager.

Negative Attributes

  • “What are your weaknesses?” Never say that you have no weaknesses in answer to this question. Instead, tell the hiring manager of one weakness. Pick a weakness that could be acceptable to a potential employer. Also list how you're working to improve that weakness. Example: “I sometimes find it hard to concentrate toward the end of a long day working on client financial accounts. I've since started going for a five-minute walk outside during my lunchtime and that helps to keep me focused.”

Goals

  • “Where do you see yourself in 10 years?” Although you may want to retire or work for a different company in 10 years, leave this out of your answer. You should also avoid saying that you want the interviewer's career. Instead, mention how you still want a career in finance. Example: “I'd like to hold a high position in corporate finance in 10 years, using my skills with math and corporate accounts.”

 

 

How to Build and Maintain a High Credit Score

Your credit rating makes a big impact on your financial future – what are you doing about it? A lot of youngsters make the mistake of ignoring their credit scores, or worse, doing things that can damage their credit rating. Your credit history is like a criminal record, it travels with you for many years and can prevent you from doing things many others have the privilege of doing, such as buying a home or vehicle.

There are many ways you can tarnish your credit score, just as there are many ways to improve it. It’s very important to build up and maintain a high credit score if you want to partake in the luxuries of the American dream.

Does Paying Bills Build Credit?

You bet! This only goes for the bills paid to companies that report to the credit bureau. So this doesn’t count for rent. However, if you have loans taken out for a house, business, car or credit cards, then paying these off will help to boost your credit score.

Here’s what else you can do to help a boost and maintain a good credit rating.

Keep an Eye On Your Credit Card Balances

Having credit cards that you actively use is good for building up your credit history. However, you don’t want to have too much revolving credit. You want to keep this percentage pretty low. As a rule of thumb, your revolving credit should be at or below 30 percent. This holds true even if you are paying off all your credit cards – if you have too many, you will still be above the recommended utilization ratio. Make sure to keep your balances down on all of the credit cards you have open at once.

Pay Off Your Credit Cards

It’s alright to make monthly payments on your credit cards sometimes, but it’s even better to pay them off completely. Creditors and other financial institutions you apply with will be looking at how many balances you owe and how big they are. If you think that small balances get the green light, think again. Having a bunch of small balances makes it appear like you are either irresponsible or broke – two types of people lenders are wary of.

Don’t Remove Old Debts

It’s not bad to have your old debts appear on your credit history. After seven years, these debts will disappear on their own anyway, so no need to try and get them removed. If anything, it shows creditors that you had debts that you actually took care of. This will make you look better. It’s worse to have old debts that have yet to be paid off or that were extremely delinquent.

Pay Your Bills On Time

Each time you pay a bill late, it shows up on your credit report. If you have too many late payments, it will make it harder for you to get loans and other financing from creditors and lenders. If you have a hard time remembering, set up auto bill pay or make a schedule on your smartphone to notify you when bills are due.

How to Avoid Spending Money Recklessly in College

Just because you don’t have many expenses when you’re in college doesn’t mean that it isn’t easy to spend what little money you have in full. Sometimes when you’re working with a very small budget, it can be hard to pay for everything you need and still have a little bit leftover for emergencies. But that doesn’t mean you shouldn’t be trying. Here is how to avoid spending money recklessly in college.

Budget Everything

You don’t have a huge amount of expenses when you’re a college student, but the ones you do have need to be budgeted. Based on the total amount of money you have to spend each month, you want to break that number down into the amount of money that you think is suitable for food, transportation, entertainment, and any other miscellaneous expenses. You will want to divide this number by four for each budget so that you can track it week by week.

Always Spend Cash

Another great way to really keep track of the amount of money you’re spending is by withdrawing either a week to half a week’s cash at a time. That way you always have cash and you can always pay for everything with cash. This will make it very easy to track how much you are spending on a daily basis. If you count your cash every time you spend money, you will always know exactly how deep you’re digging into the well.

Carry Snacks

One of the easiest ways to spend a lot of money is by buying a lot of expensive snacks around campus. Brandeis University, Maryville University, and basically all of the major American universities have food carts and kiosks placed all over their campuses. These kiosks serve very tasty snacks that are extremely tempting when you are in between classes or on a break in lecture and just need a little pick me up. As tempting as it may be, it can start to add up quickly, which is why you want to always have some kind of snacks in your backpack.

Track Your Savings

Each semester, you should have one major event that you try to save for. You are going to have long winter and summer breaks, which will be perfect for fun adventures with your friends. The only trouble is that you’re going to have to save up some money throughout the semester, so that you can afford to take some time off of work during your breaks. Once you have something exciting to save up for, you can get yourself excited enough to start putting some money aside for it each week.

Cut Costs Where You Can

If you want to avoid spending money carelessly, then you have to start becoming very conscientious about the way that you spend money. Firstly, you shouldn’t ever buy anything that you don’t need to buy. You should always compare prices when you can. Borrow things that you only need to use once or twice. Buy used when you can. And if you’re going to fashion design school, you want to try and buy a lot of your tools and supplies from recent graduates.

How to Land an Entry-Level Finance Job After College

Finding a job in finance is harder for some than it is for others, but it all depends on what type of job you’re looking for and what kind of education you have. For example, you will probably find higher paying jobs if you earn your degree from Stanford University, rather than NEC Online, but in either situation, you could open a lot of doors for yourself. Here is how to land an entry-level finance job after college.

Find an Internship

The first thing you should be doing when you start studying finance is looking for internships. There are all kinds of businesses that will be looking for college students majoring in finance to intern for them. That said, a lot of them prefer to have third and fourth year students who already have a strong foundation in all of their lower division courses. However, the earlier you can find an internship, the better. And the longer you keep that internship, the more likely you will be hired for a paid position once you graduate.

Work for Professors

There’s nothing better than finding a professor who is willing to take you under their wing. You will be working for free, but in most cases you will be earning course credit, and you will be learning a lot more than the rest of your cohorts. Not only that, but your professors will have a lot of connections outside of academia, so the harder you work for that professor now, the easier it will be to find a paying job with one of their contemporaries once you graduate.

Get Your Resumes Out Early

When it comes to the finance world, no expression could be more true than “the early bird gets the worm.” That’s because expediency is the name of the game in the world of finance and no one wants to hire the stragglers at the back of the rat race. The earlier you get your resumes out there, complete with letters of recommendation and an impressive list of references, the more likely you will be to get hired right away. If you wait too long, your resume will be at the bottom of a large stack, and it’s likely that it will never get read.

Practice Your Interviews

Once you get your resumes out you should start hearing back from companies and start getting invitations to interview. This is an exciting time because you have absolutely no idea what the future holds for you, but you have the opportunity to make sure it is very bright. That’s why you want to do a lot of research on all the companies that you interview for, and you want to practice those interviews with a friend. You can take some guesses on the main questions that you will be asked and role play the entire thing from beginning to end as many times as you need to get comfortable.

Go to Career Fairs

Career Fairs are a really great way to start shaking hands and getting both your name and your face known by potential employers. These will usually take place before you are ready to send your resumes out, so anything you can do to make your CV more recognizable when it shows up in their mailbox will really make a difference.

How to Manage and Reduce Your Credit Card Debt  

If you are reading this post, then it’s likely you have at least one credit card with an outstanding balance. You’re not alone. The vast majority of adults are finding it difficult to not only manage their ongoing credit card obligations but to reduce them. If this sounds a little too familiar, below are three ideas for your consideration.

Stop the Cycle

If you own more than one credit card and are only making the minimum or slightly above the minimum payments towards each, you aren’t paying off much more than the interest being charged. Identify which of your credit cards is accruing the highest level of ongoing interest and focus your available funds on reducing its balance first while only making the minimum payments on your remaining cards. Once this balance is paid off, destroy the card and continue down the line.

Use Your Rewards

Stop saving your rewards points for something large and use them each month against your regular expenses. If your monthly budget involves a membership to one of Chicago’s many gyms, their membership costs can often be offset entirely by using your accumulated rewards points. When it comes to rewards points, it’s important to remember that they expire. So as you continue your attempt to grow the balance, it’s being reduced each month as points expire.

Reduce Your Fees

Watch out for fees as these are often large and attract interest. Unless you are seeing real benefits of paying a yearly ownership fee, it’s time to swap to another credit card. Additionally, many credit card companies provide a small overdraft facility in the event you purchase an item which will take your balance slightly over the limit. Instances like these result in enormous overdraft fees, so be careful when you spend.

Reducing your credit card debt isn’t always the easiest challenge, but just like any challenge, it is achievable. Along with these tips, read the fine print in your credit card booklets and look for other ways you can adjust your spending or repayment habits to reduce your outstanding balances faster.

DMP or IVA: what are the key differences?

If you are struggling to deal with debts, it is likely that you have looked at various options and have become confused by what each has to offer. If you are talking to someone about a plan to manage your debts, it is vital that you understand what you are getting into.

what are the key differences

Image Credit

Here we look at two of the most common terms you will come across, what exactly they are and the difference between them.

Debt management plan

You may have been offered a debt management plan (DMP), which is an informal agreement between you and the people to whom you owe money. DMPs are used when you are able to pay back a small sum each month or when you have a temporary problem that means you will be able to pay at a later date.

The debt still needs to be repaid in full and the agreement will last until all the money is paid off. While interest rates and repayment rates may be frozen for the term of the agreement, this is not guaranteed.

Individual voluntary arrangement

An individual voluntary arrangement is similar to a DMP; however, there are some key differences, which can make it a better choice for many people. Firstly, it is a legally binding agreement and ensures that all charges and interest rates are frozen.

Rather than dealing directly with the people to whom you owe money, you use a third party called an insolvency practitioner. The big difference here is that once the agreement is in place, it stops your creditors – the people you owe money to – taking legal action against you to recover the debt.

For this type of agreement, an advisor from a company such as https://www.carringtondean.com/individual-voluntary-arrangement-iva/ will sit down with you and work out how much you can afford to pay. You will have to provide details of all your debts and income.

The practitioner will then contact all your creditors and propose a payment scheme. If 75 per cent of the creditors agree to this, it will come into force and will also apply to any that did not agree. The agreement will usually last for 60 monthly payments, although this can be different in some circumstances. Once you have completed the payments, any remaining debt is written off.

Different Types of Mortgage Financing For Bad-Credit

The bad credit mortgage, loans with 100% financing provide the borrowers total financing at their property buy. Those people who are keen to gain zero down payments have much other option than 100 % financing option. 80/20 will be a good mortgage option for the people with bad credit mortgage London . In this type of bad credit financing, two lenders share the whole amount that requires being financed.  The total loan amount may be provided by the single lender or the property seller act as another lender that bear the 20% of the total mortgage amount.

Some feature of Zero down Payment Mortgage Loan

A large amount of the people prefers 100%fianacing, the zero down payment mortgage loans, but they do not know that 80/20 loan is also easy to get. As only single lender involves in 100% financing loan so it is more trouble-free to deal with, these types of loans are generally preferred by the consumers. However the 80/20 financing is more ordinary as compared to the 100% but most of the people negotiate this especially when the property seller involves in this.

Loan requirements of Bad-Credit Zero down Payment Mortgage Loan

The loan requirements vary from lender to lender, however, the common thing that most of the lenders asked are the foreclosures and bankruptcies accursed one year before the loan request. If you have the credit score equal to six hundred or more than this with the huge amount of cash reserve, there will be the chance to get approved more speedily. The lenders of 80/20 financing packages demand that their customers keep their credit score of about 560.

There are many sites on the internet that provide the complete guide to a credit report, bad credit, an online mortgage and debt consolidation. We recommend you to deeply go through the provided information as this can help you in getting the right assistance in the whole process. You can also find out a right lender for you, most of the sites provide the profile of their lenders, so you will have an opportunity not to go anywhere and select a lender by remaining at home. It will be good for you if you can find out the best lender as he can provide you more benefits such as he can offer nice bonus options. The bad credit mortgages Barrie Lenders are easy to work with, they do have large interest rate but still this will be the small amount to pay as you will get the loan. This will be the nice way to get the money that you require now and also an experience of recovery on your credit score. So there you should not fear if you have bad credit status, there are many agencies that can fulfill bad credit loan requirements. You just have the need to find out the best one for you. You should also get the complete information about the agency such as it is registered or not. You should also read the review page of their site as this can provide the tight information about the agency.

The most excellent ways for financing your house upgrading project

Until recently borrowing money for new windows, a new kitchen, second-story addition or other home upgrading signified going to the bank, consulting a loan officer and be in suspense for the best. These days, on the other hand, you have a lot of more options. A mortgage broker, for instance, can present more than 200 various loan programs for your windows replacement. And brokers are simply one of the lots of lenders keen to put together a loan that is the most excellent for your situation, even though your credit history is less than ideal.

That denotes you might be capable to borrow even more money than you suppose. However with a lot of challenging lenders, loan preferences and terms, it as well signifies loan shopping can be as difficult as house hunting.

You can miss out all the uncertainty and choose the right financing program by:

  1. Knowing how much money you need, for example, for windows replacement and approximately how much you can obtain from the start;
  2. Narrowing the countless loan preferences down to the ones that fit your needs and finances
  3. Focusing on the lenders that are likely to offer the type of loan you want.

In addition, take into account whether you are going to hire a contractor or undertake the work yourself, start with an precise estimate of what the project will cost. All lenders will require a definite figure before they start working with you.

Follow the steps to get the financial aid for your improvement project.

  1. Set your budget

This will stop the cost of your reconstructions spiraling out of control by staying away from the ‘extras’ you hadn’t considered.

As a result, list all the things you want done and ask for quotes instead of estimates. Be sure you get no less than three quotes, measure them up in details and try to discover reviews from previous clients.

  1. Decide on the most excellent way to finance your improvements

Taking the time to decide about the full cost of any borrowing is a great way to guarantee you can actually afford it. For that reason you need:

  • Use savings rather than borrowing
  • Make out the cheapest method of borrowing over the shortest period and measure up the total cost of borrowing, not only the interest rate.
  1. Select the right type of financial support

Selecting the wrong way to finance home improvements can be expensive, however select the right type and you could discover yourself with an interest-free loan or even credit card. In this case try to:

  • Discover more information about secured and unsecured borrowing.
  • For small home improvements such as new windows for your house, think about a credit card.

Iris Francis is a reviewer for a big array of online publications, who covers a variety of best financial solutions for home renovation exemplified by installing Eco-friendly Calgary windows  and whatever else is related. A tireless vagabond of Internet space and an opinion maker in anything of significance to the best financial solutions for home renovation.

The Benefit of Financial Advice in Dubai

 Cash Advice Organizations is working with different government and private parts, together with the top advice offices on the planet to enhance the productivity and adequacy of the conveyance of advice of financial matter. Enhance its general quality and accessibility to however many individuals as could reasonably be expected.

They work under their vision to individuals over the World to manage their obligations and figure out how to deal with their finances astutely. Their central goal is to offer backing to smaller scale organizations and people over the WORLD to be free from their obligations and into accomplishing a solid financial future.

The Benefit of having a Financial Advice:

The financial business sector is a mind boggling place, with a colossal scope of items accessible whatever sort of administration you are searching for. From home loans and speculations to investment funds and annuities, the inconceivable cluster of items in each of these territories can be stupefying when attempting to discover the choice that will best suit your future financial needs and this is the place taking proficient financial advice in Dubai could help you.

You can get real advices with respect to life affirmation and basic sickness cover so you can secure you and your family as well as your business. You can get suitable spread in the most financially savvy way.

The Utility of Transfers:

This is one of the significant zones for which people and organizations are deciding on financial arranging benefits firm. These organizations help in observing the accessibility of expense moderation plans in the commercial center and breaking down the related hazard and compensates.

The Cash Advice Trust, as a major aspect of their national system for advice benefits additionally offers obligation advice to the overall population and also gives cash guides proficient quality preparing. The organization likewise raises reserves through their different patrons to ensure a long haul and secured subsidizing for their expert International pension transfers.

The Job of an Advisor:

In the course of recent years, the financial advice industry has dependably been exceedingly separated. Be that as it may, by cooperating with the other top organizations in the advice segment, the Cash Advice Offices can encourage expand the accessibility of advice in the most sparing and effective way, making it a considerable measure simpler for the general population to access advice. There are three primary sorts of financial advisor accessible.

In case you’re searching for financial advice that will help you to understand the full scope of items accessible available, it is a smart thought to search out a solid free advisor. It is a free financial advisors job to have an amazing comprehension of the business sector and to tailor their support of your needs. With new items going onto the business sector consistently this can spare you a ton of inconvenience and guarantee that the financial advice that you get is originating from a learned source. In this manner, on the off chance that you require helpful advices with respect to any significant financial issue then settle on the financial arranging benefits firm to get it.

3 Tips for the Proper Use of Payday Loans

First of all you need to understand the basic definition of payday loans: these are short-term financial arrangements that are specifically designed in order to assist you in emergency cases or any unexpected occurrences. The primary purpose of these loans is to ensure that you can get spare cash even in case of the event of an unexpected expenditure.

In this article we pay attention to three main points of the issue of payday loans.

Consider the Problem:

Why do I need a payday loan?First of all payday loans experts in Coquitlam advise to set the purpose of getting this type of loan, just like with any other type. You know that payday loans is undoubtedly a great possibility for people who need fast cash in small or medium amounts, but you should also remember that as you get cash very fast you are likely to have higher interest rates.

This is exactly why payday loans experts advise to set up the idea of getting these loans. Consider all for and against for your precise situation without checking similar situations in the Internet so that you will make the decision right for your case.

Paying Attention to Details: Can you repay the interest?

This is the second very important issue about payday loans. You already know that the interest rates are likely to be higher so before signing the documents make sure that you do the math and check whether you will actually be able to repay the loan. This is a very important step with payday loans because it is absolutely not in your interest to end up in even worse situation.

Another tip that payday loans experts give to the probable clients is to always calculate how much money you take, then how much you will have to give back and if it is possible with your current income.

Avoid multiple lenders at all costs

And this is our last tip for you. Unfortunately, a lot of articles in the Internet say that getting several lenders can be a perfect option for you, but in the real world no one would advise you doing so. First of all, these actions can actually be illegal and secondly they are in general entirely inappropriate. Having several lenders means that you will have o pay back the interest rate at every place so earn much more money eventually. It is much better to deal with only one lender when it comes to payday loans because in this way you will be able to negotiate the re-paying process in case of any difficulties much easier, and secondly it is easier to repay one loan instead of multiple.

And the bottom line of this article. Any personal loan expects in Toronto would agree that payday loans is a perfect option for people who need fast money and in not very big amount, but they all advise to carefully consider this idea before making the final decision.

What Are the Steps That Can Make Your Trucking Company Successful?

Making your trucking business successful is really a difficult task. It requires lots of dedication and hard work. Above all, you need to have a correct approach in order to take right decision and the right actions. The trucking business is very profitable, but at the same time it is very competitive.

As per the survey, many truckers start their own business, but often end up failing. The reason behind this problem is that these people are the best truckers, but not the good business owners. Becoming a good business owner requires the perfect knowledge about each aspect of business and this knowledge is far more than of choosing a route or driving a truck.

Growing your business involves many problems and the major one is of cash in hand because on the basis of this you need to find semi truck financing or have to make other financial decision.

Steps that can promote growth of your business

Actually, there are four steps, which will help you to become a perfect business owner, so that you can accomplish your goal.

  • Have the right type of equipment

Having the correct type of equipment is the necessary thing for your business. Buying it for your company is a more difficult process, as the owners have to decide whether they want to lease or buy the equipment.

These are the only two alternatives, which are available to owners. The salesperson will never give the clear advice on which situation which alternative is more useful. There is not any perfect answer as it depends on many situations. Meeting with a CPA is the best way.

  • Find the best customers

Mostly all truck owners find their first shipping from the load board. Load board is very competitive, so you need to reduce your bid in order to get more loads but this can decrease your profit percent. It also does not promote client relationship. Moreover, it is said that an owner with good client relationships earns double the amount from that person who do not have its own customer list.

  • Bid well after knowing your expenses

You must bid in the efficient manner, which means it is low enough for competition and high enough for profitability. Your bid must not be less than your expenses, which includes fuel, repair, maintenance, etc.

  • Cash flow problems

Many trucking companies experienced such type of problem and the reason behind is that many shippers do not pay immediately, they require 40-60 days of time for making the payment of the load.

Fuel and repairs are some of the problems, which happen on the regular basis, so in this situation your expenses are more than revenues. Therefore, your work will cease.

You can prevent this case flow problem using freight factoring. It is a type of financing which gives you advance regarding your slow paying bills. Now, you don’t have to wait for two months, as you can directly get your payment from the freight company.

Therefore, after reading this article you will definitely be able to make your trucking business run successfully.

A Short Guide On Online Trading

Online trading has revolutionized the way trading is done and has made the trading in all the markets faster and easier. Whether it is stock trading, Forex trading or trading of derivatives, each and every financial market is ready with the fast and easy process of trading online. Before the advent of online trading, small and intermediate traders were kept at the mercy of the intermediaries and brokers to conduct trade but now it is possible easily through an online account for trading. Online mode of trading has made things easier for the traders who took time to learn forex trading, whether they are interested in trading locally or internationally.

Using smartphones for online trading

It is not just an internet connection and a computer than helps in online trading with https://www.xtrade.com/ but now it has expanded to smartphones and hand held devices.  A person having a smartphone or a tablet with an internet connection can easily trade online. The various online brokers and companies have created their mobile trading apps as well as they have made their websites and trading platforms mobile friendly. Now there is no way you can stop anyone to trade from anywhere. Things are very easy now for a trader who invested some time to learn forex trading, even if he is constantly moving from one place to another, whether inside a city or anywhere in the world. All which is needed for online trading is a fast and reliable internet connection and a device supporting good access.

Lets discover what you get when you learn forex trading

Most of the trading in various financial markets today happens online. The instruments are held in an online form instead of holding them in physical form. You can compare this with an online saving account. You can see the amount online but you are not seeing it physically. You can transfer the money and receive but all you is doing in an online mode and not physically. The same thing happens with trading online. You do it electronically and all account information and transactions you can see online. If this still sounds too complicated, don’t worry, you will understand everything once you start to learn forex trading seriously.

An online trading account consists of 3 components which are savings account; demat account and actual trading account. Savings account is linked to your trading account and the transactions use the money from your savings account. Demat account reflects the balance of all the trading instruments you hold in the electronic form. Even if you have any physical share or instrument, you can convert them to electronic form. A trading account is the actual account you open with a broker platform online. This platform provides you the platform for trading online and you can chose the platform of your choice and learn forex trading via this platform. You can search for a good online broker and create an account with him to trade electronically. A good reputed broker is required in this case and also it is important that the platform he provides is of a good quality with all the facilities for trading online effectively.

THE MODERN WORLD OF ECOMMERCE – U.S. VS CHINA

“You should learn from your competitor, but never copy. Copy and you die.”- Jack Ma

Ecommerce has incredibly matured in recent years and is still on a roll. According to the China Internet Network Information Center or CNNIC,China has surpassed the U.S. ecommerce sales as a percentage of GDP for the first time ever. GDP or Gross domestic product refers to the monetary value of all the finished goods and services produced within the given country in a specific period of time.

China’s Ascendancy In Ecommerce

Recent statistics showthat China’s $439 billion in ecommerce sales as of 2014 made up7% of the country’s GDP. As for American ecommerce companies, they provided $300 billion in 2014 and accounted for 6% percent of the United States’ GDP, according to CNNIC. In terms of dollar,China exceeded the U.S. in ecommerce sales for the first time in 2013.

China’s superiority in ecommercewas illustrated by 2 separate studies.The first study wascarried out byChina’s Development and Research Center of the State Post Bureau and Deloitte. According to it, online retail sales increased by 70% annually, and the number of Chinese online shoppers grew from 70 million to 300 million over the past 5 years.Moreover, ecommercejumped from 1.3% of total retail sales to nearly 7.5% during the same period.

On the other hand, according toThe People’s Bank of China(PBC or PBOC), mobile payments through bank transactions processed in the first quarter of 2014 rose 255% as compared to the first quarter last year. Overall, online payment value rose 33.8% in the first quarter this year as compared to 2013.As for transactions, they rose 25.9%, as The People’s Bank of China stated.

Numbers Speak Louder

According toCNNIC, in 2014, about 56% of Chinese consumers shopped online. This makes up 361 million. Now, 328 Internet companies in China account for 785 trillion yuan or $123.8 trillion. This is more thanone-quarter of the total market capitalization in China.

With this in mind, choosingThe High Risk Guys, one of the U.S. leading companies specializingin payment processing, even merchants labelled as “high risk” can operate their business safely and efficiently. Do not hesitate to visit highrisk-merchantaccount.com to consider whatThe High Risk Guyscould offer for your High-Risk Credit Card Processing.

The former prime minister of Australia, Kevin Rudd gave an impressive talk, asking whether China’s growing ambition would lead to conflict with other major powers. He mentioned that Napoleon hadalready made an extraordinary projection: “China is a sleeping lion, and when she awakes, the world will shake.”

According to Kevin Rudd, in China, people now talk about the Chinese Dream, and Americans are familiar with the term “the American Dream.” He believes people all over the worldare able to think of a dream for all humankind. This will help people change the way they think about each other.

The Question Of Unlimited Disk Storage And Bandwidth

In the event that you go online in quest for a facilitating arrangement today, you will likely see a great deal of arrangements expressing that they offer boundless plate space and transfer speed. Before you get excessively amped up for these arrangements, you must be mindful that this is really a promoting system called overselling. It is an exceptionally normal thing in today’s Web Hosting Mumbai facilitating industry. Organizations are battling straight on with a specific end goal to win the hearts of clients.

Give us a chance to comprehend what overselling really implies. Overselling is a term that depicts something that somebody is offering something which he or she can’t in any way, shape or form offer. As a case, a train organization that has a prepare that can fit 300 travellers however the train organization is offering 350 seats. Presently, that is an unmistakable approach to comprehend what overselling is. The organization sets out to do this in light of the fact that they realize that there are certain to have some ticket purchasers that won’t swing up to take the train. In this manner, they will have enough seats for everybody that comes.

Truly, this is not deceiving but rather simply a promoting strategy. On the off chance that it is done in the right way, it can bring a great deal of benefits. On the other hand, in the event that it is utilized as a part of the wrong way, it will destroy the organization. Along these lines, it truly relies on upon how moral an organization is when working their business.

In web facilitating, this methodology is being utilized as a part of a major way. It is extremely basic to see organizations offering boundless facilitating arrangements on the grounds that there is for all intents and purposes a great many SEO Company in Mumbai organization out there rivaling each other. Littler organizations need to utilize this strategy keeping in mind the end goal to contrast and greater suppliers. Adding to the way that clients might want to get however much circle space and data transfer capacity as could be expected yet pay as less cash as could reasonably be expected.

To see how overselling functions in the web facilitating industry, here is a situation that can make you get it. Say that there is an organization called organization X that has 20000GB of transfer speed and 2000GB of circle space. On the off chance that they concoct bundles that furnish the client with 2000GB of data transfer capacity and 200GB of storage room, they can just suit 10 clients. This is the reality hypothetically and scientifically. On the other hand, measurements have demonstrated that 90 % of their clients will just go through 10% of the assets that they are given. Along these lines, organization X can acknowledge more clients. When they do this, they are overselling.

This will doubtlessly inspire you to consider reality about boundless transmission capacity. Is it truly genuine that boundless transfer speed is conceivable? NO, it is most certainly not. Regardless of how enormous a server is, there is still a size to it. This is the same with the measure of information that can be exchanged. In the event that any client surpasses the measure of data transfer capacity that they were assigned, their record will be suspended. On the off chance that a client spent either the CPU use, RAM use or the database association, Data Hosting they will hit their transmission capacity limit.

Along these lines, don’t get all astonished on the off chance that you keep running into this issue with your site. Facilitating suppliers express this obviously in their terms of administration archive. The sentence in the TOS more often than not peruses like this, “If a client is cornering a server asset, XYZ Hosting Company has the privilege to quickly suspend the record for asset misuse. No discount will be advertised.”

What You Need to Know About Mortgage Brokers

If there’s one thing that many people in the Western World can agree on, it’s that mortgages are a pain. Many people have them and wish they didn’t, or they wish their mortgages were lower. If nothing else, they wish their mortgages were simpler to pay. The mortgage market tends to be very confusing at times due to the number of choices you have when it comes to mortgages and financing. There are open mortgages, closed, equity take-out mortgages, cashback, flex down, and so on. Many people tend to take out second mortgages or refinance in order to make alterations to their home through professional contractors like Orlando Group Roofing. While these changes might be beneficial in the short- and long-term, they certainly do not make the mortgage situation any easier to navigate. The strange thing is that so many people know the insurance markets are incredibly complex, and they would never go it alone. The same is true for something as simple as buying cable television. However, they do choose to try and go it alone when it comes to their mortgages. It’s a very strange phenomenon that makes little sense.

The Basics

Mortgage brokers are individuals who represent brokerage firms and assist you in securing the best mortgage you can afford. This is ideal because brokerage firms tend to have access to dozens of banks. Many brokers actually know bankers at the banks in the area, so you can get the best deal; it’s like being a market insider. They also have access to insurance companies and other non-bank lenders. They know many of the people working at these places and even have business relationships with some of them. Also, brokers have access to software that allows them to track mortgage rates across dozens of lenders so that you can find the best rate in a matter of seconds.

The most important thing to remember is that the broker does not work for the lender, but instead, works for the borrower. In this case, the borrower would be you. The banker, no matter how nice she might seem, still works for the lender. That means bankers will be trying to secure the most money for their banks. You want exactly the opposite, so it’s going to be a natural push and pull. Getting a brokerage firm on your side helps to even the playing field. You wouldn’t want to take on the bank alone, would you?

Costs

The cost is normally the prohibitive factor when someone is looking to hire a firm. Depending on your circumstances, the cost is negotiable. For many people, the mortgage can be arranged at no cost to you. The lender actually pays a fee to the firm, because the firm found and arranged the mortgage. The lenders see the mortgage as money they would have otherwise not earned so they treat the firm as an entity that brought them extra business. If you have a credit history that requires slightly more work on the part of the firm, then a set fee would probably be assessed before you ever start the applications. So, if you don’t like the rate, you wouldn’t be stuck with a firm. In many circumstances, the amount you pay for the broker will be much lower than the amount you would have spent if you’d tried to negotiate the mortgage yourself.

 

Can I File a Legal Malpractice Lawsuit Against My Bankruptcy Attorney?

Bankruptcy is a very serious, and complicated, legal matter that affects the person filing the bankruptcy for years to come. If an individual retained the services of a bankruptcy attorney and believes that the attorney did not perform his job according to the standards required by the legal profession, then the client may have the basis for a legal malpractice lawsuit against the attorney.

What Is Legal Malpractice?

  • Legal malpractice is a negligent tort claim. Torts is the area of the law that deals with injuries — physical, financial or emotional — to a plaintiff, or victim. All negligent tort claims are based on four basic elements — duty of care, breach of the duty of care, causation and damages. In a legal malpractice case, the plaintiff must show that the attorney breached her duty of care to the plaintiff. In an underlying bankruptcy case, the plaintiff will need to establish the standard of care required and then prove that the attorney breached that standard, or duty, of care.

Causation

  • The plaintiff in a legal malpractice case must show that the damages she suffered are actually a direct result of something the attorney did, or failed to do, while representing her. In a bankruptcy case, for example, let’s say the plaintiff was required to relinquish her home to the court to pay her debts. If she would have lost her home regardless of anything the attorney did, then a minor mistake made by the attorney will not qualify as malpractice. On the other hand, if an attorney failed to claim an exemption on behalf of the plaintiff that would have allowed her to retain her home, then that might be considered causation for the purpose of a legal malpractice lawsuit.

Damages

  • “Damages” is the legal term used to refer to monetary injuries sustained by the plaintiff. In a legal malpractice action against a bankruptcy attorney, the plaintiff will need to prove that he suffered an actual financial loss as a result of the attorney’s negligence, or malpractice. Simply showing negligence without any real financial loss will not work.

Procedure

  • In order to initiate a legal malpractice lawsuit against a bankruptcy attorney, a plaintiff should first be aware of the statute of limitations in the jurisdiction where the alleged malpractice occurred. Statutes of limitation will vary by state but may be as short as one year from the date of occurrence. A potential plaintiff who believes she has a viable malpractice claim should consult an attorney as soon as possible. A legal malpractice lawsuit is filed in the same manner as other civil lawsuit by filing a complaint against the attorney. If the plaintiff wins, he will be awarded a monetary judgment against the attorney.

How to File Bankruptcy for Low Income Individuals

According to the website Debt.org, 936,795 Americans filed for bankruptcy in 2014. This represents a 12.5 percent drop from 2013, but many are still seeking relief from crushing loads of debt. Bankruptcy filings are particularly problematic for low-income individuals, as they have far fewer resources to pay, but there are ways to lower the cost.

Hiring a Lawyer

The first decision in a low-income bankruptcy is whether or not to use a lawyer. Depending on where you live, a non-profit legal aid association may be able to help. Special circumstances, such as being a veteran or dealing with a disability, may lessen the income requirements or make you more likely to qualify for assistance. Some lawyers also perform a certain amount of casework pro-bono. Your state bar association may have information on both of these programs. Some lawyers will allow you to complete some filing paperwork on your own, saving you money.

Warning

  • Do not charge the lawyer’s fee on a credit card. Credit card companies review charges in the time before bankruptcy carefully, and any charges in that time period may be excluded from the bankruptcy –and perhaps the entire balance on that card along with it.

Filing Fees

Bankruptcy requires a $300 fee just for filing the paperwork. However, you can ask the court for a waiver of that filing fee. To qualify for that waiver, you must have income of less than 150 percent of the federal poverty level, and be unable to pay the fee in installments. According to the Department of Health and Human Services, a family’s income must be less than $36,375 per year to qualify for the fee waiver. Even then, approval of the waiver is up to the judge.

Tip

  • Even if you do not qualify for a fee waiver, you can ask to pay the fee in installments. This can make a bankruptcy filing more affordable.

Chapter 7 or 13

Many people with low incomes qualify for a Chapter 7 bankruptcy, because they cannot make installment payments that Chapter 13 requires. Because of this, low-income filers usually do not have to deal with the increased costs of a Chapter 13 bankruptcy. However, if you do file for a Chapter 13, you’ll pay monthly debt payments to the trustee to send to your creditors. The trustee keeps a percentage of these payments as a fee for handling the bankruptcy.

Pro Se Filing

A pro se filing means that you file for bankruptcy without a lawyer. You may choose to do this if your case is very simple. A paralegal may be able help you complete the forms and do the calculations needed for the filing for much less than a lawyer would charge.

Warning

  • Be careful when completing bankruptcy forms yourself. The complicated calculations make mistakes common, and with an error, you could have your bankruptcy dismissed.

How to Discharge Attorney Fees in a Bankruptcy

As you prepare to file for bankruptcy you may wonder if you can include attorney fees in your case. If you owe attorney fees for services not associated with the particular bankruptcy case you intend to pursue, these charges appropriately can be included as a debt to be discharged through bankruptcy. An attorney to whom you owe money is treated as any other general creditor during the course of your bankruptcy case

Instructions

  1. Prepare a petition for bankruptcy. If you are proceeding without legal representation, obtain a bankruptcy petition form from the clerk of the bankruptcy court. Alternatively, you should be able to download the petition form (and related documents) from the bankruptcy court’s website.
  2. Fill out the matrix or index of creditors form. The matrix of creditors is a directory of all of the people or businesses you owe money. Include the attorney (or attorneys) that have open accounts for fees you did not pay. In addition to the name and address of the attorney, include the fee balance as well as any file, case or account number.
  3. File the petition, matrix of creditors and related documents with the clerk of the bankruptcy court. Shortly after filing your petition, the clerk will send to your creditors (including the lawyer or lawyers you owe fees) what is known as a proof of claim form. If the attorney wants to attempt to recover fees owed through your bankruptcy case, she submits the proof of claim form to the bankruptcy court.
  4. Attend the creditor’s meeting scheduled for your case. The creditor’s meeting is held before the bankruptcy trustee. At this session, the bankruptcy trustee questions you about your assets, debts and income. Creditors have the right to appear at the hearing to question you as well. Creditors are also able to lodge an initial objection to the bankruptcy itself if they have some facts to support that you are not entitled to bankruptcy relief. As a practical matter, creditors do not often appear at these proceedings.
  5. Develop a payment plan in conjunction with the bankruptcy trustee if you file a Chapter 13 bankruptcy. Pursuant to a Chapter 13 plan, an attorney will receive a payment of at least some of the fees due and owing over the course of the lifetime of the payment plan (which normally is two to five years). A final discharge occurs at the conclusion of the payment plan.
  6. Appear in court for a Chapter 7 discharge hearing. The discharge hearing occurs approximately 120 to 180 days after the initial filing of the bankruptcy petition. Through a Chapter 7 case, you pay none of the fees previously due to the attorney who filed a claim. The discharge order permanently relieves you of this financial obligation.

What Salary Does a Bankruptcy Lawyer Earn?

The career outlook for attorneys specializing in bankruptcy appears promising, particularly given the economic troubles encountered by so many in recent years. Bankruptcy lawyers provide protection from potential ruin for individuals and businesses in financial distress, and their services continue to be of great value to many as the nation slowly emerges from the economic struggles that began around 2007.

Bankruptcy lawyers speaking to each other in library

Location and Experience

  • The national median salary for bankruptcy lawyers in 2014 was $110,000, according to SimplyHired.com. That figure is prone to fluctuation, of course, depending on the attorney’s experience and practice location. For instance, the average salary for a bankruptcy attorney in New York City is $129,000, while in Butte, Montana, that figure comes in at $88,000. Career prospects appear strong for lawyers practicing bankruptcy don’t appear likely to diminish anytime soon.

Job Outlook

  • The Bureau of Labor Statistics projects that opportunities for lawyers in general were expected to increase 10 percent from 2008 through 2018.

What Can You Do With an MBA in Finance?

A master’s of business administration in finance provides a rigorous academic approach to business and finance disciplines. A finance degree can lead you to finance-oriented employment in investment banking or corporate finance. However, MBA programs typically have a broader focus with an emphasis on management and leadership potential. Additionally, MBA programs commonly include team-building coursework and real world project analysis. According to the book “Finding Your Way with an MBA: Insights From Those Landing Their Ideal Jobs,” typically MBA graduates enjoy higher compensation than graduates with college-level business degrees.

What is an MBA Degree?

  • The MBA in finance is a postgraduate degree in business studies with an emphasis in finance. Students wanting to earn an MBA study the theory and practical application of business and management principles. Coursework specifically covers the basic principles of managing a business and developing organizational leadership and business strategies.

Why Get an MBA Degree?

  • Increasing your career opportunities and salary potential are two primary reasons to consider getting an MBA in finance. Many companies require an MBA degree for executive and senior management positions. According to the book “Finding Your Way with an MBA: Insights From Those Landing Their Ideal Job,” more than 100,000 Americans graduate each year with an MBA degree, making the MBA the single most popular master’s degree program. Many employers recognize that an MBA degree in finance indicates a job applicant has a solid understanding of business practices and management techniques.

Coursework

  • An MBA in finance teaches you skills you can apply to numerous fields. Besides coursework in finance, MBA finance programs require you to take courses in marketing, operations management, money management, human resources, business strategy, business leadership and business ethics. MBA programs with an emphasis in finance also require additional advanced coursework in financial planning, economics and accounting. An MBA in finance affords you the opportunity to choose from a number of careers upon graduation, and virtually work in any field or industry. MBA finance graduates enter many industries, including health care, government, engineering, music and retail.

MBA Degree in Finance

  • An MBA with a specialization in finance gives you many professional options, especially within the financial field. This degree will benefit individuals seeking employment in corporate finance, commercial banking, financial planning, investment banking and other business sectors. Specific job titles commonly held by graduates of MBA finance programs include financial officer, credit manager, finance manager, management consultant or senior financial analyst.

 

The Salary of a Corporate Finance Lawyer

At some time during its business operations, every company is going to need a lawyer. Many companies, realizing this, keep lawyers on staff to verify that the business’ practices are legal. These corporate finance lawyers keep a close watch on a company’s transactions, contracts and other agreements to ensure that they stick to the law.

Corporate finance lawyers can make good money helping companies stick to the law.

Corporate Lawyer Identification
A corporate finance lawyer handles the legal aspects of a company’s transactions and contracts. It is the duty of a corporate finance lawyer to ensure that none of a company’s transactions conflict with laws on the local, state or federal level. To do this, a corporate finance lawyer must be expert in a variety of laws, including tax laws, contract laws and the laws governing intellectual property rights.

Corporate Lawyer Salaries
According to the Bureau of Labor Statistics, lawyers across all disciplines receive an average salary of $110,590 each year as of 2008. Lawyers who specialize in corporate law, including the management of companies and enterprises, earn considerably more. Corporate lawyers earn an average of $145,770 a year. For recent graduates entering the field, the average salary is $68,500 for all law disciplines. For the same graduates entering the corporate law profession, the average salary is $69,100.

Top Paying States
A lawyer’s salary can vary significantly from the mean depending on where he or she practices. The top five highest paying states (or areas) for lawyers, according to the BLS, are Washington, D.C., California, Delaware, New York and Connecticut. On average, D.C. lawyers are paid $162,830 annually and California lawyers are paid $155,740 annually. Delaware, New York and Connecticut lawyers are paid on average $151,750, $150,510 and $138,420, respectively.

Other Considerations
While the demand for lawyers and the growth of the profession are good, the nature of the work is changing somewhat. With a glut of law school graduates, many newly-minted lawyers are finding themselves early on working temporarily as attorneys on a need-based basis. This can affect salary in the short term. Specializing in corporate finance law may see a lawyer pull down better salaries, but that only applies to full-time work.

 

 

Financial Executive Job Description

A financial executive is a member of a corporation’s top leadership team who typically reports to the chief financial officer (CFO) or the chief executive officer (CEO). She coordinates all finance-related activities in a company, and she ensures that corporate financial statements are accurate, complete and prepared in accordance with accounting principles.
A chief financial officer ensures that corporate financial statements are accurate.

Responsibilities

  • A finance chief is in charge of all accounting and financial reporting duties within a firm. He supervises staff and ensures that the organization’s financial statements adhere to generally accepted accounting principles (GAAP), Securities and Exchange Commission (SEC) guidelines, industry practices and top management’s directives. A financial executive also oversees tax reporting activities, and she ensures that employees abide by Internal Revenue Service (IRS) requirements when calculating corporate fiscal liabilities (debt).

Education and Training

  • A finance chief typically holds an advanced degree, such as a master’s or doctorate, in accounting, finance, auditing or taxation. A liberal arts major or a finance executive with a bachelor’s degree is not uncommon in the field, but employers generally require that job seekers have significant business acumen and practical experience (more than 10 years). A financial executive who has prior public accounting experience usually has a certified public accountant (CPA) or certified internal auditor (CIA) license.

Salary

  • A financial executive’s total compensation depends on his seniority, length of service, academic credentials and professional certifications. Other factors, such as shareholders’ or corporate directors’ decisions, also may affect his pay. A finance chief’s remuneration includes wages as well as stock and cash bonuses. According to the U.S. Bureau of Labor Statistics, as of 2008, finance chief executives earned a median annual wage of $158,560, excluding cash and stock bonuses, with some top executives of large companies earning hundreds of thousands of dollars to more than $1 million annually.

Career Development

  • Career growth opportunities for financial executives generally depend on the firm’s performance, economic trends and shareholders’ actions. A chief of finance also may be promoted if a company engages in a corporate reorganization initiative such as a merger or an acquisition. A competent and skilled finance chief typically moves to a senior role within five to 10 years. He may become senior finance president, chief financial officer, chief accounting officer or corporate president.

Working Conditions

  • A financial executive does not have a typical 8:30 a.m. to 5:30 p.m. work shift. Business conditions may require her to work long hours. She may be at the office early in the morning, late at night or on weekends. Occasionally, she may travel to meet with domestic or international clients. The end of the quarter is the busiest time period for a finance chief because she must coordinate regulatory filings with the SEC and IRS.

 

What Is Job Description of the Corporate Controller?

Corporate controllers (sometimes referred to as “chief financial officers” or CFOs) are top executives responsible for the financial activities of the organizations in which they work. Controllers establish financial policies, track income and expenses, oversee budgets, and make recommendations regarding investment decisions. The job market for controllers is competitive. Industry experience is a must.

What Is Job Description of the Corporate Controller?

Education

  • Most controllers have bachelor’s or master’s degrees in business administration, finance, or accounting. In addition, controllers often earn professional certifications, including Certified Public Accountant (CPA) or Certified Management Accountant (CMA). Earning these certifications improves an individual’s chance of becoming a controller.

Areas of Responsibility

  • Controllers manage investments, oversee cash management activities, deal with mergers and acquisitions, and supervise financial reporting. They often manage several employees or entire accounting departments. Controllers report directly to the president or board of directors of their organizations.

Salary

  • Controllers, like other top corporate executives, are highly paid. Median annual salaries of corporate executives, including controllers, were $158,560 in 2008. Controller salaries vary widely, however. Top executives in large companies can earn more than $1 million annually, depending on their level of responsibility and industry. In addition to salaries, compensation for controllers often includes stock options and performance bonuses.

Technology

  • Controllers must be comfortable with technology. They use calculators and computers with specialized financial software programs to compile reports. They use spreadsheets to analyze data and frequently file reports via electronic submission.

Areas of Interest

  • Controllers must like working with numbers. They need to be knowledgeable about economic and accounting principles and financial markets. They should also have an interest in general business administration, including strategic planning, human resources, and corporate governance.

 

Corporate Finance Analyst Job Description

A corporate finance analyst, or associate, uses business acumen and investment knowledge to review a firm's financial statements and recommend investment strategies to senior leadership. A corporate finance associate also reviews a company's liquidity (cash) levels and aids a company in selling shares of bonds and equity on securities exchanges.
A corporate finance analyst helps a firm make investment decisions.

Responsibilities

  • A corporate financial analyst evaluates a firm's operating data, compares current versus historical information and provides investment selection strategies to senior management. He also may detect liquidity trends by appraising a company's “working capital” ratio. This ratio measures a corporation's short-term cash availability and equals current assets minus current liabilities. A corporate finance associate also partners with investment bankers to help a firm raise cash on securities exchanges.

Education and Training

  • Jobs in the corporate finance field typically require a business or finance background and a bachelor's degree at a minimum. A corporate finance analyst who has supervisory responsibilities or works for a large, multinational company may hold a master's of business administration (MBA) in finance or investment analysis. A corporate finance professional with prior public accounting experience may have a certified public accountant (CPA) license.

Salary

  • A corporate finance analyst who holds an advanced degree, such as a master's or doctorate, in economics or investment analysis earns more than a colleague with a bachelor's degree. The company's size, industry and location also affect compensation levels. A corporate finance analyst's pay package may include wages as well as cash or stock bonuses. The U.S. Bureau of Labor Statistics indicates that median annual wages for corporate financial analysts were $73,150 in 2008, excluding cash and stock bonuses, with the lowest 10 percent of the occupation earning less than $43,440 and the highest 10 percent earning more than $141,070. The same research shows that median annual wages for corporate financial managers were $99,330 in 2008, excluding cash and stock bonuses, with the middle 50 percent of the profession earning from $72,030 to $135,070.

Career Development

  • A corporate finance associate's chances of promotion depend on staffing needs and economic trends. However, she can improve her career growth opportunities by seeking a master's degree in investment analysis or a chartered financial analyst (CFA) certification. A corporate finance analyst who performs adequately may be promoted to a senior role, such as corporate finance manager, senior investment strategist or financial accounting supervisor, after three to five years.

Working Conditions

  • A corporate finance analyst works a standard 8.30 a.m. to 5.30 p.m. shift. If business conditions require a longer presence at the office, he may work late nights or early mornings. He also may telecommute and perform his tasks remotely from home on weekends. A senior corporate finance analyst travels periodically to meet domestic or international clients.

 

Corporate Banker Job Description

The control and ownership of incorporated companies is distributed to many joint owners called shareholders. While this structure allows certain advantages, it also introduces much complexity. Specialized bankers deal with the complicated and unique needs of corporate finance. Also called “investment bankers,” corporate bankers also perform tasks similar to personal bankers.

Corporate bankers, or investment bankers, attend to the special needs of corporations.

Saving and Lending

  • Like individuals, corporations use credit and money. Companies need to keep cash on hand to meet immediate needs like payroll; thus, they maintain accounts that function much like any other savings or checking account, though on a much larger scale than most individuals. For some projects, loans are needed and the government recognizes corporations as “legal persons,” able to obtain credit. Corporate bankers operate much like personal bankers or loan officers in these capacities.

Investments

  • Because corporations often hold large amounts of money, for which they have no immediate need, they often seek to put this money to work for them and yield more interest. To this end, investment bankers advise or act as brokers for various financial instruments. The bankers may recommend stocks, bonds, futures or many other investment vehicles. It depends upon such factors as the return the corporation desires, when it will need the money back and the degree of risk it is willing to accept.

Stocks and Bonds

  • One of the most advantageous aspects of the corporate structure is the ability to raise funds by issuing bonds (debt instruments) and common stock (equity instruments). Conceptually, these activities are simple. The company sells bonds to investors, then issues a regular payment to the bondholders until the bond matures. Upon maturity, the original sale price of the bond is refunded to the bondholder. Stock is sold to the public, which gives buyers partial company ownership and control. Each share of stock entitles the holder to an equal share of company profits and one vote to be used in each issue the board of directors puts up for a vote. While these may not seem terribly complicated, the laws and regulations surrounding the issue and trading of securities requires extensive specialized knowledge.

Education

  • Investment banks vary in size; thus, there is some variation in the education standards of applicants. The largest and most prestigious institutions may demand an MBA from an elite university; the financial sector employs workers with terminal degrees in their disciplines, paying a premium for their credentials and experience. However, smaller establishments, or the more junior positions within the larger ones, may only require a bachelor’s degree. Finance and economics are the most desirable majors.

Conditions and Salary

  • Bankers almost invariably work indoors, in comfortable conditions. Most time is spent either on the telephone; in meetings; or on a computer, doing research or analysis. The more prestigious and well-paid positions have comparably less mundane activities. An investment banker’s salary is ill-spent on filing or making coffee, when support staff can do these tasks for a fraction of the cost to the firm. Despite the physical ease and status of the position, the banker does have the challenges of long, irregular hours and considerable stress. Pay is generally commensurate with the size of the company and the affluence of its clients.

 

 

Director of Finance Job Description

Directors of finance are responsible for the finance activities of their assigned division or divisions. Finance directors work for corporations, consulting firms and nonprofit agencies. The Bureau of Labor Statistics says, “Employment growth for financial managers is expected is to be about as fast as the average for all occupations. However, applicants will likely face strong competition for jobs. Those with a masters degree and a certification will have the best opportunities.”

Compliance

  • Finance director titles are used in both accounting and finance departments. However, they are responsible for compliance and regulatory issues pertaining to the financing activities of their organizations. The director of finance is involved with all financing sources for his assigned divisions. This includes activities related to stock and corporate bond activity, equity investors and all non-traditional financing sources.

Subject Matter Expert

  • The director of finance is the expert on compliance and regulatory issues related to finance. She will consult with counsel and executive leadership on proper financing activities and all necessary and required disclosures. The director of finance is responsible for adherence to the corporate finance policies, and reports any deviation to her direct supervisor. Most directors of finance report to the chief financial officer or the chief accounting officer.

Forecasting

  • Finance directors are responsible for all corporate forecasting. This includes sales and revenue forecasts as well as competitor forecasts. Finance directors build forecast models and metrics to accurately predict the outcome of a potential or proposed business transaction. These transactions may include expansions, mergers, acquisitions, capital projects or divestitures. These forecasts are usually developed for executive level leadership.

Strategic Planning

  • Strategic planning is a critical responsibility of directors of finance. Many capital expenditures, mergers and acquisitions and major expansions take months or years to plan. Strategic planning is vital in making these projects successful. Pro forma financial statements, projections and success metrics are all required for project approval. Planning for projects of this magnitude requires financial professionals with extensive education and work experience.

Investment Activities

  • Directors of finance are responsible for some or all investment activities. Financing activity varies greatly depending on the size of a company, but all companies have some degree of investment activity. These investments could be as simple as a money market account or simple interest-bearing account. However, in large companies, investments may include corporate securities, annuities and taking stakes directly in other companies.

Management and Mentoring

  • The finance director manages the finance department employees. This includes the analysts, clerks and statisticians. The director of finance is responsible for directing the staff’s activity and for assigning workload. The director of finance assists the recruiting department with finance staffing issues. Directors of finance must be solid managers and leaders. They are responsible for developing and mentoring their subordinates.

 

Financial Planning & Analysis Job Description

The financial planning and analysis department within a corporation is responsible for preparing the annual plan and long-range or five-year plan. Financial planning and analysis professionals also prepare monthly, quarterly and annual management reports that compare actual results to forecasts. This department is a segment of the finance division of a company, and usually reports to the chief financial officer. The financial planning and analysis team also assists with the monthly accounting close, making certain journal entries are prepared correctly and on time.

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Education and Training

  • Financial analysts are expected to have, at minimum, a Bachelor of Science degree in finance or accounting. Having a Master of Business Administration degree is highly desirable, particularly for career advancement. Some companies require that analysts have a Certified Public Aaccountant designation to ensure they understand “Generally Accepted Accounting Principles” and apply these principles to the reports they prepare.

Skills

  • Financial planning and analysis professionals must have a thorough understanding of advanced financial analysis techniques using spreadsheet software, as well as any specialized financial forecasting software their company may have. They must be able to design reports that present both actual and budget data in a concise manner for use by top management in decision making. They are required to communicate well, both orally and in writing, as they are asked to make presentations to upper management.

Responsibilities

  • Senior management depends on information and recommendations provided by the financial planning and analysis department to make critical decisions such as those regarding multimillion dollar capital expenditures and mergers and acquisitions. If the information the analysts supply is flawed, there can be significant negative financial consequences for the company as a whole. Success in this career depends on being able to interpret data and draw conclusions, not just to compile numbers.

Challenges

  • Finance planning and analysis can be a high-pressure career because, during the planning cycle, there are tight deadlines that must be met. The financial reports that analysts prepare can involve presenting negative news to senior executives, who may challenge the accuracy of their reports. They are often given special analysis projects, such as mergers and acquisitions, that must be completed under extremely tight time frames and often with insufficient or limited data.

Rewards

  • Because the financial planning and analysis expert interfaces with all departments of the company during the planning process, this career can be a learning experience to gain an understanding of how other departments, such as marketing or purchasing, are managed. This knowledge can help financial analysts advance into a senior management role later in their careers. It can also be a stepping stone to becoming chief financial officer of the company, because the financial planning and analysis department is heavily involved with the day-to-day operations of the accounting department. Financial planning and analysis professionals, even junior analysts, are asked to prepare reports or make presentation to top executives, so this career can help young professionals develop poise and self-confidence.

 

How to Write a First Job Resume for a Bank Job

It’s possible to get an entry-level job in a bank, even if you have no previous job experience. Most banks will hire novices as tellers. All such a job requires is some basic math skills, on-the-job training and the ability to talk to a wide variety of people. Banks also typically pay a little more than most other entry-level positions. This makes them attractive places for college students and others looking for their first jobs. Read on to learn how to write an excellent resume that can give you an edge over the other job candidates

Instructions

  1. Write an “Objective” section. This section of your resume should briefly discuss your career goals, what sort of bank job you hope to get and what you want to accomplish in your job. You’ll stand the best chance of getting hired if you indicate you’re interested in a career in financial services in this section.
  2. List your experience first. Even if this is your first job, you probably still have some experience that would be useful in a bank. Any experience handling cash, competition on math teams, proficiency with computers or experience dealing with a wide variety of people would be helpful and should be included in your list.
  3. Talk about your education next. Write down the schools you’ve attended from high school on, as well as the dates attended and degrees obtained. If you’re still in school, make mention of that, and indicate when you expect to graduate.
  4. Write about your bank-specific skills and classes you’ve taken that will help you perform your job. Customer service skills, business classes, accounting classes and organizational skills are all examples of assets that would benefit you in a bank job. Banks are becoming more and more dependent on computer technology, too, so you’d better have (or get) solid computer fundamentals.
  5. Create a list of organizations you belong to and extra-curricular activities you’re involved in. This will show that you’re a well-rounded person (always a desirable quality in a bank employee), that you’re ambitious and that you know how to handle responsibility.

 

Job Description of Investment Bankers

Investment banks arrange financing for private companies. Investment bankers are responsible for matching businesses that require financing with investors who are willing to provide capital in exchange for bonds or stock. Generally all investment bankers pursue advanced education and receive specialized training in the field. There is stiff competition for investment banking jobs, but those who are successful tend to enjoy high salaries and comprehensive benefits.

Investment bankers connect companies that need financing with investors.

Duties

  • Depending on the client’s situation, an investment banker’s duties vary. They sometimes act as sales agents for their clients. They advise companies on their financing options, such as issuing stock or bonds, and find buyers for the securities. When clients wish to arrange large financial transactions, such as a merger, acquisition or sale of a subsidy, an investment banker may negotiate the deal. Investment bankers also consult when companies are experiencing financial difficulties, and attempt to find solutions. If clients decide to offer new stock, investment bankers may arrange for their bank to underwrite the stock, so the client will not have to assume financial liability. In addition, investment bankers may oversee their clients’ investments.

Training

  • Most investment bankers earn a master’s degree in business administration (MBA). Those who enter the field without an MBA generally have a bachelor’s degree in finance, business, economics or accounting, and begin as analysts with an investment bank. They receive training on the job, during which they have limited interaction with clients and instead focus their efforts on creating information books that are used to sell products to clients. Training also includes instruction in the specific products and services that the bank offers, effective sales techniques and securities analysis. Most analysts work toward an MBA while employed if they plan to stay in the field. After several years, analysts either receive a promotion to associate or are let go. Candidates who already have MBAs usually begin as associates.

Working Conditions

  • Most investment bankers work in comfortable offices, though the environment is often quite stressful. They usually work long hours, including nights and weekends, and face extreme pressure as they try to negotiate mergers, acquisitions and corporate financing. Many investment banks have a large number of international clients, so investment bankers are often required to travel around the world. Bankers at the junior level usually face the greatest pressure as the job tends to become more manageable with experience.

Salary

  • According to the Pay Scale, a salary information website, the median salary for associate investment bankers with less than a year of experience ranged from $47,778 to $96,102 as of May 2010. Those with one to four years of experience were paid between $57,617 and $96,682, while those with five to nine years earned between $69,855 and $101,636. Associate investment bankers with 10 to 19 years of experience earned as much as $106,283.

Employment Outlook

  • The Bureau of Labor Statistics estimates that employment for securities, commodities and financial services sales agents, including investment bankers, will increase by nine percent between 2008 and 2018, which is the same rate as the average for all occupations.Recent global financial problems coupled with industry consolidation will be the most significant factors in limiting job growth. Investment bankers may face sharp competition as jobs dwindle, so those with MBAs will enjoy the best prospects.

 

 

How to Start a Career in Banking

You can begin a career in banking without experience or a degree and choose from a variety of specialties after you pay your dues in an entry-level position. Here’s how to start in this exciting field
Start a Career in Banking

Instructions

  1. Determine your compatibility with a banking career. Do you pay attention to detail, have a drive for perfection, like to achieve goals, enjoy constantly learning new information and skills, present a dependable image, like to work with people (some of whom can be very demanding) and have a clean criminal record? If so, go on to Step 2.
  2. Apply for any job with a bank. Some bank executives have started out as tellers, a job that requires neither experience nor a degree. Bring a professional resume.
  3. Reveal any legal problems you’ve had. Banking employees must be bonded, so your background will be investigated. Laws and policies vary by state and bank.
  4. Be flexible when discussing work schedules. Banks feel tremendous pressure to offer extended hours.
  5. Groom and dress carefully. Much about banking depends on image. Conservative appearance says you’re trustworthy.
  6. Arrive at work promptly. Banks must open on time with enough personnel available to meet customers’ needs. Inconsistency is a no-no in the financial industry.
  7. Conduct yourself with the utmost honesty and integrity. Follow every law and policy to the letter. Banks use state-of-the-art security systems that keep track of employees carefully.
  8. Cultivate perfectionism. Every penny must be accounted for, every signature must be included, and every supporting document must be verified. If you don’t balance at the end of the day, you don’t go home until you do. If you don’t dot every “i” and cross every “t,” you’ll do the paperwork over and over until you get it right.
  9. Take advantage of every training session possible. Ask your supervisor for more training, and make it known that you’re interested in advancement.

 

 

How to locate banking jobs vacancies in Saudi Arabia

If you are seeking a banking job in Saudi Arabia banks, there are many ways can help you to land your dream job either you are living inside or outside Saudi Arabia. The main thing you need to do is to locate the vacancies.

Saudi Arabia

Instructions

  1. Start your search at Riyad Bank, the bank is considered one of the biggest banks in Saudi Arabia that provide various kinds of services such as corporate banking, business finance and business banking. Go to the bank website , where you can find a career page that lists all the openings.
  2. Contact Bank Al Jazira to inquire about their vacancies, the bank provides banking services in many cities in Saudi Arabia. Go to the head office in Khalid Bin Al Walid st., Jeddah to get more information about job opportunities.
  3. Check Al Rajhi Bank for the current vacancies, the bank always has up coming openings for fresh graduates, middle managers and experience professionals. You may not be able to locate posted or announced vacancies on the bank but you can submit your resume to their recruitment team and you might be considered for the related work opportunity.
  4. Research the banks that specialized in financing, if you have work experience in the investment and finance field. Try Saudi Investment Bank and Arab National Bank, which have many branches across Saudi Arabia. Write a presentable resume, that reflect your specialty in the finance operation and send it to the head of the department that relevant to your experience.

 

List of Finance Jobs

If you have a natural love for math and an analytical mind you may want to consider a career in finance. To obtain a high-paying finance job like accounting you’ll need to obtain a bachelor’s degree. Other finance jobs like working as a bank teller only require a high school diploma. However, having a degree in a finance-related discipline is always an advantage when looking for a job in this field.

Finance jobs include bank tellers, auditors, loan officers and financial advisors.

Bank Teller

  • Responsibilities of a bank teller include cashing payroll checks, exchanging foreign currency, receiving loan payments, issuing traveler’s checks and keeping track of their daily transactions. Banks usually hire employees with a minimum of a high school diploma. Taking business math courses in high school and having clerical experience can also help individuals obtain a job. Some banks provide on-the-job training for new tellers which teaches them about financial transactions within the bank. The median salary for bank tellers is approximately $21,120 per year, according to Stateuniversity.

Auditor

  • The median salary for an auditor, which is one type of accountant, is approximately $50,000, according to Stateuniversity. Auditors are responsible for checking the financial records of companies and determining their accuracy. If numbers don’t add up auditors are responsible for determining why. External auditors are self-employed and work for many companies as freelancers while internal auditors are employed by specific companies.

Loan Officer

  • Loan officers earn a median salary of $51,760 per year, according to Stateuniversity. Loan officers are responsible for working with individuals and businesses to help them acquire loans. They’re also responsible for evaluating loans, approving loans and authorizing loans based on credit. Loan officers work for financial institutions such as banks, credit unions and savings institutions. Loan officers interact with other people as they prepare paperwork for specific loans.

Financial Advisor

  • Financial advisers work with individuals, companies and charitable organizations, providing them with financial advice on investing and savings, according to Prospects. Financial advisors must be good at math. They often review an individual’s entire financial portfolio and provide recommendations. Financial advisors earn between $34,000 and $94,000 a year, according to Payscale.

 

Types of Banking Jobs

According to the Bureau of Labor Statistics (bls.gov), in 2006 the banking industry employed more than 1.8 million. Out of these job, 7 out of 10 were in commercial banks. The banking industry has a wide range of jobs and positions available. Tellers still make up a vast majority of the employees, but other bank positions take up a large sector in the job industry in general.

Types of Banking Jobs

ManagementWithin the Management field of bank jobs there are: financial managers, who oversee the bank branches and departments as well as maintain bank standards and resolve customer issues; loan officers, who go over loan applications and make recommendations on whether to approve or deny a loan; and trust officers, who handle pension funds, profit sharing and even school endowments. Occasionally, trust officers also act as the bank lawyer or accountant as well.

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Financial ServicesFinancial services is a sales orientated position that handles the selling of the bank’s services. The bank agents handle everything from deposit accounts and lines of credit to certificates of deposit and investment services. Financial service agents handle the marketing of the bank, especially when it comes to consumer credit cards and services. This has become a large part of the industry that sales agents dedicate much of their time to.

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AdministrationOffice and Administration jobs take up the largest portion of banking jobs available. These include tellers who handle account transactions and services for customers whether they come into the bank or go through the drive-through. Also included in this classification are customer service and new account clerks who answer customer questions and concerns and most thoroughly know the bank’s products and services. These positions are also in call centers, where the representatives are answering phone calls and responding to customers’ emails.

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OfficeOffice staff within a bank include many positions. These are general office jobs such as secretaries, data entry clerks and receptionists. There are also bookkeepers, accountants and audit clerks who process deposit slips and checks, enter data and maintain additional financial records and documents. Of course there are also supervisors and managers that oversee training and the day to day tasks of the office support.

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Miscellaneous SupportMiscellaneous support includes lawyers, accountants, auditors and computer specialists. This is the smallest portion of the employment within the banking sector, but it is vital to the running and operations of any bank. These positions ensure that the bank is compliant with all federal regulations and codes as well as maintaining the corporate financial records. The computer specialists positions maintain all computers and software, as well as computer upgrades and electronic banking technologies.

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Read more : http://www.ehow.com/facts_5390469_types-banking-jobs.html

How to Prepare for a Banking Job

Years ago bankers were stodgy old men in black suits that sat behind their desks all day reviewing loan applications. But times have changed and so has the banking industry. Today’s bankers can no longer afford to stay behind their desks waiting for customers to come to them, because the competition is fierce. In their job, they need to proactively go after business and offer customers products and services that are a cut above the rest. If you want to start a career in banking, you need to prepare yourself to show your perspective employer why you are a cut above the rest.

Instructions

  1. Complete at least two years of college with an emphasis on business-related classes. Though you will stand a better chance at a higher paying job with a four year degree, many banks have internship programs you can start while still going to school. They also have tuition reimbursement programs for full time employees that will help you pay for college. It may take you longer to get your degree, but it’s a great way to pay for your education.
  2. Invest in a few choice pieces of business attire, including a nice suit. It’s not necessary to buy a whole wardrobe at once, but you do need several pieces you can mix and match so that it appears you have a huge selection of clothing.
  3. Update your resume ensuring it is concise and easy to read. The human resource areas of most banks receive numerous resumes every day so yours needs to stand out. Print it on a light colored paper like cream or grey and include a cover letter with a brief description of your overall skills and assets.
  4. Talk to different employees where you do your banking and ask them about their jobs and what they do. Working at a bank today is more than being a teller or loan officer. Banks hire people to do everything from statistical modeling to selling and managing investment portfolios. The more you learn about the types of jobs available, the better prepared you will be to choose the area of banking that’s right for you.
  5. Be flexible when being offered your first job, even though it may not be exactly what you wanted. Banks are notorious for promoting from within so you need to get your foot in the door first. Once you do, it will be easier to apply for other jobs as an employee within the bank as opposed to being an outsider.

 

What Kind of Job Can I Get With an Associate’s Degree in Banking?

An associate’s degree in banking is a great stepping stone into a career in finance. Entry-level positions are available for those who have completed their associate’s degree, with the opportunity to advance with experience or go back for your bachelor’s degree.

An associate's degree in banking can lead to an entry-level position at a financial institution.

Associate’s Degree in Banking

  • When you earn your associate’s degree in banking, you’ll learn valuable skills that will help you get a job, such as accounting principles, economics principles, banking laws and how to use spreadsheets.

Teller Jobs

  • Many graduates of an associate’s degree in banking go on to work in a bank branch as an entry-level, vault or head teller. The head teller position, which involves supervising other tellers and balancing the cash draw, has the highest average teller salary of about $27,000.

Client Services

  • An associate’s degree in banking can lead to a career as a client services representative at a bank or lending institution. This position involves customer service for basic transactions and yields an average annual salary of about $28,000.

Processing Clerk

  • Graduates of an associate’s degree program can earn a position as a processing clerk at bank branches. The clerk may work with commercial clients or loans. The average salary for this position is about $26,000.

Advancement

  • Many graduates with an associate’s degree go back to school to earn their bachelor’s in finance or accounting. The credits they earned for their associate’s degree should enable them to complete a bachelor’s degree in just two or three years, rather than four.

 

Entry-level Banking Jobs

There are a number of entry-level positions for employment in the banking industry. These positions range from bank teller to collections representative to safe deposit clerk, and most have annual compensation in the $15,000 to $30,000 range. While the number of management positions in the banking industry is shrinking due to the economy and a number of recent large mergers, the number of entry-level positions is expected to continue to grow over the next few years.
While some of these positions require some college or specialized training, most just require a high school diploma, good math skills, and a friendly personality and people skills. However, in today’s world, advancement to a management position in the banking industry almost always requires a college degree.

Senior tellers frequently move up to salaried positions.

Teller Jobs

  • A bank teller is the most common entry-level job at a bank, and generally only requires a high school education, basic computer skills, and a friendly attitude (especially as teller positions today are becoming more and more sales- and marketing-oriented). Teller positions are often relatively easy to get as the turnover rate tends to be high. With some exceptions, teller positions are usually paid hourly, with most tellers making $20,000 to $30,000 annually.

Other Customer-service Jobs

  • A number of other specialized customer service positions are found in banks, such as personal and mortgage loan representatives, new account representatives and safe deposit clerks. These jobs are mainly customer service-oriented and usually do not require a college degree. Some of these positions do require a little more education or training, but there are often entry-level positions paying $20,000 to $40,000 are available.

Support Jobs

  • In most banks, there are almost as many support positions as there are customer-facing positions, which means that there are usually quite a few jobs like mortgage loan servicing clerks, collections representatives, accountants, information technology specialists, operations clerks, wire transfer clerks and fraud detection associates available. Many of these positions do require a college degree or specialized training, but the pay is commensurately higher in most cases, from $25,000 to $60,000.

Employment Prospects in the Banking Industry

  • While banking industry jobs grew rapidly for several years up until 2008, and declined in 2009-2010, the industry is expected to begin a gradual recovery, and hiring (especially for entry-level positions) is predicted to increase over the next few years.

 

Trade Finance Job Description for Banking

Technology is allowing businesses to grow exponentially as trade increases nationally and globally. In an effort to assist business clients in financial trade transactions, many banks offer trade finance services. These services allow companies to import and export with ease and without a long wait for fund transfers. Jobs in trade finance involve a high degree of client interaction as well as an understanding of financial transactions. Trade jobs are typically found in banks and other financial institutions.

Large cargo ship on water

Facilitating Trade

  • In a banking institution, the trade financing department is responsible for a number of activities to facilitate business trade. An individual in this position would help importers with letters of credit that are sent to exporters. These letters show the exporter that payment will be made upon delivery. Some banks also issue invoice financing, import financing and shipping guarantees. An individual working in the trade finance department is responsible for reviewing the credit worthiness of a business before extending loan terms. Trade financing covers both importers and exporters of goods.

Trade Experience Necessary

  • A knowledge of the various types of trade transactions is a requirement for this side of banking. Familiarity with financial terminology such as banker acceptance, cash in advance, and documentary collections is necessary. A mathematical aptitude and attention to detail are other skills of a successful candidate. Analytical skills to properly assess credit worthiness is a requirement for these positions. Working in trade finance requires not only interpersonal skills but a high level of confidentiality and tact. In some instances a customer’s request cannot be honored. In these cases an associate needs to handle the situation in a respectful manner without alienating the customer or losing business for the bank.

Education and On-the-Job Training

  • While there is no specific college degree for a trade finance position, most banks require at least a bachelor’s degree. Taking courses in accounting, business or economics gives candidates a competitive edge in addition to giving them a financial background. On-the-job training constitutes the majority of an employee’s education. Employees may start in entry-level jobs within a financial institution before moving into a trade finance position.

The Future of Trade

  • Companies continue to look for faster ways to transact business, and banks are working harder to fulfill their needs. Businesses want to minimize the risk of not receiving an import or being cash poor while waiting for payment of an export. Trade finance departments across financial institutions work with new technologies to reduce that risk. Although letters of credit have long been the standard of trade finance, other types of guaranteed payments are emerging. Banks now offer document collections as payments for imports. Document collecting is a bank-to-bank transaction occurring within the trade finance department. All of these enhancements mean continued growth and education for the right candidate taking this on as a career.

 

 

 

Financial Adviser’s Job Description

Financial advisers, also known as financial planners, advise individuals, couples and organizations on financial matters, such as spending income, saving for retirement and making sound investments. Although most financial advisers practice as generalists, others specialize in investments, savings or insurance. Individuals looking to become financial advisers must have the relevant professional qualifications and be able to follow industry regulations. Top employers include investment firms, consultancies, insurance carriers and brokerage firms.

Financial advisers can meet with clients in their homes or offices.

Doing the Job

  • To study a client’s financial information, evaluate his financial goals and create a good investment portfolio, a financial adviser needs strong analytical skills. Math skills are also essential, because an effective adviser must convert currencies, determine percentages and derive financial ratios. Financial advisers also need strong speaking and active listening skills to interact and share information with clients effectively.

Advising Clients

  • Personal financial advisers help clients make sound financial decisions by providing all the relevant information. For example, when a client wants to buy education insurance for her children, the financial adviser analyzes the client’s financial position to ensure she can afford the policy, and researches the insurance market to identify the best providers and advises accordingly. These financial advisers also help clients improve credit ratings and secure bank loans.

Maintaining Contact

  • After helping clients implement financial plans, such as investing in securities, investment financial advisers often keep in touch with them to discuss the progress of the investment. When a client wants to change his investment options, the adviser furnishes him with new information on potential investment options. These financial advisers also liaise with financial services providers to ensure the interests of their clients are being met.

Maintaining Compliance

  • Financial advisers must update their knowledge on industry regulations. For example, investment advisers who manage $110 million or more in client assets keep tabs on the US Securities and Exchange Commission to monitor changes in relevant regulations. Other financial advisers or planners usually are regulated by state agencies, such as boards of accountancy.

Getting In

  • To become a financial adviser, you must earn at least a bachelor’s degree in economics, finance, mathematics or business. You also need to obtain a license or registration with a state regulator. Investment financial advisers running large firms must be registered with the Securities and Exchange Commission. To improve your ability to attract more clients, pursue a master’s degree in business administration or earn the certified financial planner certification from the Certified Planner Board of Standards.

Getting Compensated

  • In 2013, the mean annual wage for personal financial advisers was $99,920, according to the US Bureau of Labor Statistics. In the same period financial advisers offering investment services was $117,460, while those working as resident advisers in companies made $92,700. Between 2012 and 2022, the bureau also estimates a job growth of 27 percent for personal financial advisers, greater than the estimated 11 percent average for all jobs.

 

Jobs for Finance Majors

If you are thinking about a degree in finance for your undergraduate degree major, you might be in for a rewarding and lucrative career. While it might be tempting to assume that a major in finance will lead only to a career of numbers-crunching, in reality, various careers in other aspects of finance and financial management are possible with a finance degree.

Financial Analyst
Financial analysts, like economists, analyze financial trends and how a business is performing so they can offer advice and guidance on major financial decisions. Financial analysts may make recommendations about investment strategies and long-term financial goals. These recommendations are typically based on how they perceive the financial data with which they are working. Financial analysts typically analyze various types of investments, such as mutual funds, stocks and bonds to evaluate their performance and potential for economic gain. Analysts work for corporations, banks, financial services firms and even for the government. In addition to obtaining a bachelor’s degree, financial analysts typically obtain licensing through the Financial Industry Regulatory Authority (FINRA). According to the Bureau of Labor Statistics (BLS), financial analysts made a median salary of $73,150 in May 2008.

Financial Manager
Financial managers are responsible for the long-term economic growth of their company or firm. They are responsible for planning and implementing plans that ensure this growth. Financial managers review and analyze financial reports produced by individuals, like financial analysts. They also utilize cash management strategies and help make investment decisions on behalf of a company. The BLS notes that financial managers’ job titles can vary by the function they perform. Some serve as cash managers, others as credit managers and yet others as branch managers for financial firms. The bachelor’s degree in finance can open up careers in this field, but the BLS notes that the master’s degree is becoming increasingly important for management positions. The median annual salary of financial managers was $99,330 in May 2008.

Stockbroker
Stockbrokers and other financial services providers are individuals who work on behalf of clients to help them with both long- and short-term financial goals. A stockbroker is a financial services sales representative who may advise clients to buy stocks in certain companies or other securities like bonds and mutual funds. Some financial services representatives are referred to as financial advisers or financial planners. A degree in finance can provide suitable preparation for individuals wanting to work in this field. Like financial analysts, stockbrokers have to be licensed by passing an exam regulated by FINRA. The median annual salary for financial services representatives, according to the BLS, was $68,680 in May 2008.

 

 

Careers With Degrees in Finance

College graduates with a degree in finance are qualified to work in a variety of settings including businesses, consulting firms, investment firms and other financial institutions. A finance degree provides the accounting, economics and business skills that professionals need to begin their careers in some of the most popular finance jobs.

Budget Analysts

  • Budget analysts play an important role in helping businesses, government agencies and nonprofit organizations put together, review, implement and monitor their budgets. They compile data to create annual budget reports that help managers find ways to reduce expenses and increase earnings.

    Candidates must have good math, communication and computer skills. Entry-level positions are available for candidates with a bachelor’s degree, but a master’s degree is often preferred.

Personal Financial Advisers

  • Also known as financial consultants or planners, financial advisers help clients make investment decisions, plan their retirements and minimize their tax liability. Based on their client’s financial information and goals, they put together a plan to help them accomplish their objectives. They may also sell insurance policies, real estate, mutual funds or other types of investments if they obtain the proper licenses.

    Financial advisers promote their services in a variety of ways in order to get clients. They must have good communication and sales skills to be successful.

Auditors

  • Auditors are responsible for checking the accuracy of a company’s financial records. They give organizations feedback about their bookkeeping policies and make suggestions about improving the efficiency of their accounting systems. They are employed as internal auditors that review the accounting records of their company or external auditors that provide their services to companies or government agencies as independent contractors.

    A degree in finance with an emphasis in accounting will prepare graduates to work in this field. Meeting the education and experience requirements to become a certified public accountant (CPA) may also be required by some accounting firms.

Insurance Underwriters

  • Insurance companies rely on underwriters to evaluate insurance applications in order to determine the risk of loss associated with issuing a life, health or property insurance policy. They are trained to use computer systems, databases and various reports to analyze insurance applications and establish an insurance premium for the policies they issue.

    Good computer skills, judgment and some insurance experience are important in this field. Most insurance companies offer entry-level positions and training for qualified candidates. The Insurance Institute of America also offers continuing education courses and professional designations for underwriters.

Salaries

  • According to the U.S. Bureau of Labor Statistics, the 2009 salaries for these jobs vary depending on several factors including location, employer, experience level and additional training. Experienced budget analysts can make $93,080 or more per year. Personal financial advisers can make more than $114,260 a year not including the bonuses or sales commissions they may earn. Salaries for auditors can range from less than $34,470 to more than $94,050 a year. The average salary for insurance underwriters can range from $40,000 to $71,070 a year.

 

How to Get Environmental Jobs

More and more people are interested in careers that reflect their personal commitment to preserving the environment, but finding the right environmental job can be difficult. Knowing where to start looking, having green experience and focusing your resume will all get you off to a good start on a green job search.

Search for green jobs

Instructions

  1. Check out job boards of leading environmental groups or websites. Green companies and organizations are especially likely to have helpful websites with opportunities listed.
  2. If you’re a student, visit your college or university career center for more information. Even if you’ve already graduated, many schools will still offer help for alumni, so call and find out what resources they have to offer.
  3. Begin your search locally and broaden from there. Look up local environmental service organizations to see what work is available in your community. You may need more experience for state or federal-level jobs.
  4. Focus your resume on your environmental experience. If you have enough green experience, divide up your experience section into “Environmental Experience” and “Additional Experience.” Environmental experience might also include environmental work you have done as part of another job or experience, so highlight the green aspects of all your work.
  5. If you don’t have a lot of experience in environmental service, look for ways to volunteer in your community to build up a base of experience. You’ll also meet people who can assist you in your job search.
  6. Ask for jobs or internships even if they aren’t explicitly offered. Many organizations, especially non-profits, will not post internships but will still be happy to set one up for you if you express interest.

 

Finance Job Skills

To find a job in finance, you will need to use your math, statistics, budgeting, bookkeeping and business skills. Finance jobs relate to managing money for different purposes. If you work at a car dealership, as the finance manager you would oversee the representatives who get customers approved for new and used vehicle loans.

Finance jobs require knowledge of financial principles.

Cash Flow

  • A finance job requires skill in tracking cash flow around a business. In some businesses, you collect and handle cash, prepare reports documenting cash receipts and make deposits to the bank. In other businesses, cash flow management begins with handling cash receipts or records, verifying revenues collected and posting revenues to the right accounts. The other side of cash flow involves disbursing cash from the right accounts to the right invoices, such as paying the company’s expenses.

Asset Management

  • Another skill set applies to managing the assets of a business. You might ensure that a company has enough assets to cover its financial commitments at any time. Your skills might apply to a career in corporate banking or finance, or you might consider investment consulting, helping businesses and consumers to grow their assets by investing and getting a higher financial yield than they would by depositing money in a bank savings account.

Quantitative Skills

  • You need educational preparation and strong skills in quantitative disciplines, including statistics, math, economics and computer modeling. These skills work well with analytical skills to help you understand financial problems from different angles. To work for a corporation, you will have to use quantitative skills to help your employer achieve goals and objectives. Number-crunching helps you to make financial recommendations to managers and executives.

Information and People Skills

  • Utilize your skills in problem-solving, information-gathering and customer service in a financial services career. You might find work in your own small business or in companies that provide services to consumers. People consume financial products, such as loans and investments, to use money for different goals. You might work in commercial or residential real estate lending, banking services or other financial services such as selling insurance policies and annuities.

 

Jobs That Fall Under Financial Service Careers

To be successful in financial services careers, individuals must be analytical, with a passion for breaking down figures and explaining them to their clients, colleagues and oftentimes, investors. Financial service careers can range from a customer service agent calling to collect on a past due bill to a chief financial officer who oversees spending and manages the profit center of a business.

Personal Financial Advisor
This type of career revolves around helping individuals create a financially sound future by offering tax, insurance and investment advice. This job requires the ability to network and market your services effectively to gain a larger clientele, since in many cases personal financial advisers have to find their own business leads.

Investment Broker
Investment brokers work with buyers and sellers. They act as the middle man, as they help with the buying and selling of commodities among parties. They often work with private and public organizations. Their pay primarily comes from the commission they make on their deals.

Auditor
Auditors work to assure that companies are adhering to compliance laws and regulations regarding the financial dealings of their company. They review everything from financial statements to client files, checking them thoroughly for accuracy.

Insurance Agent
Insurance agents offer protection options to consumers and businesses. They offer casualty, life, health, disability and long-term care insurance that provides coverage if an accident or emergency occurs. They work to advise their clients on way to reduce risks in their homes and at their businesses, which may help reduce insurance costs.

Accountant
Using generally accepted accounting practices, accountants work with businesses and families to keep track of money spent and money earned. They ensure that financial documents are up-to-date and accurate. They are responsible for tax records and preparation.

Financial Consultant
Most financial consultants operate independently and run their own businesses. They are responsible for securing their clientele. They work with businesses and individuals in a combination of capacities. They may play the role of a financial adviser, insurance agent, auditor or analyst depending on the businesses’ needs, the consultant’s skill set and licensing.

Retail or Commercial Banker
Bankers work with businesses and individuals at small and large banks. They are responsible for building a relationship of trust with clients, handling financial transactions, reviewing accounts and suggesting new financial products to customers when applicable.

Financial Analyst
Financial analysts review and analyze financial statements for businesses so that they can make effective recommendations regarding investment decisions, investigate industry trends that can hurt and help the business, and project future earnings. They review sales, expenses and tax information to advise both large and small business owners.

Bill and Account Collector
Collectors contact customers to let them know a payment is past due and make payment arrangements where necessary. They work for organizations to collect receivables and update accounts.

 

How to Land an Entry-Level Financial Analyst Job

A financial analyst is a professional who gives investment advice to both individuals and businesses. Due to the high salaries earned in the profession, landing an entry-level financial analyst position can be challenging, as competition is fierce. However, by carefully mapping out your educational path and networking your way through the industry, you can give yourself a competitive edge for landing a position.

Instructions

  1. Obtain the necessary education. You will need a bachelor’s degree at the very least, preferably in finance or a finance-related field such as statistics, accounting, international business or management. Some universities require good scores in high school mathematics for entry, while others are a little more relaxed about entry standards.
  2. Further your education by taking a postgraduate degree in finance. While some employers will accept a high-standard bachelor’s degree for an entry-level financial analyst position, many require a master’s degree. Thus, a master’s degree will only increase your chances for acceptance into a trainee program. If you have the financial resources, an MBA that specializes in the financial markets may help your chances even more.
  3. Begin preparation for the chartered financial analyst (CFA) certification, a necessary requirement for a career as a financial analyst. The designation is achieved after passing three examinations that require self-study. The whole process takes two to five years, and will overlap with the experience gained as an entry-level financial analyst.
  4. Network. The financial markets field is highly competitive, and thus becoming familiar with those who already work in the industry will give you an edge over other job candidates. This also applies for internship opportunities. When you eventually land an entry-level position, you will need at least four years of experience before you can obtain your CFA designation.

 

How Does Outsourcing Help Create New Jobs?

While outsourcing might cost some jobs in the American economy, it might not be the catastrophe some people believe. Outsourcing can help American businesses by reducing costs, as well as providing services to small businesses that might not otherwise afford them. Outsourcing can also enrich the overall global economy and generate enough profit for overseas countries to invest in American businesses.

Outsourcing can potentially benefit both domestic and international workers.

Costs

  • One way that outsourcing can help create new jobs is by lowering the costs the business spends on certain areas. For example, if a business can reduce manufacturing costs by 25% when it outsources manufacturing, it can use the money that it’s saved in costs to expand its sales force.

Small Businesses

  • Outsourcing creates jobs in small businesses. A small business might need a new computer programming system put into place, but can’t afford the cost of having a domestic programmer perform the task. The business outsources the job to an overseas provider, who is able to supply the business what is needed at a fraction of the cost. In turn, this new program enables the small business to operate more efficiently, which in turn allows it to reduce some of its operating costs. The reduction in operating costs gives the business enough extra money to hire some part-time help, thereby creating a new job within its infrastructure.

Overseas Economy

  • One area that is sometimes overlooked in the debate over the merits of outsourcing is the job creation taking place overseas. When jobs are created by outsourcing to another country, those jobs impact the global economy. People who work outsourced overseas jobs are provided with a higher income than those who aren’t working. In turn, this allows them to buy products, including products exported from America. The more products exported, the more likely it is that American businesses will have to expand in order to keep up with increased global demand. The way that American businesses expand is by building new factories and hiring new employees, thereby creating new jobs.

Investments

  • Jobs are also created from outsourcing when overseas companies invest in American businesses. Many of the jobs that are outsourced are customer service or tech support jobs. Countries like India are not manufacturing-heavy. This can lead to actually working cooperatively with American manufacturing in order to expand. Even countries like China, which has a strong manufacturing base, uses the money it makes from its outsourcing in order to buy and invest in American businesses and products.