Question

How can you obtain work experience in the finance field while you are still a student?

The video(s) mention several skills one needs in order to be successful in the field of finance. Which of these skills are most important to you and why?

How do job prospects in the field of finance look over the next 10 years?

One of the roles of a Chief Financial Officer (CFO) is that of a fiduciary. What does this mean?

Answer 1

Work experience in the field of finance can be obtained in several different ways while still being a student. One can apply for internship and work on a part time basis as interns in finance department of a company. Many companies provide internship opportunities and while these positions do not always pay they can be a great source of learning and gathering practical experience in the field of finance. Working as an intern in the finance department of a company will enable you to put your theoretical learning in practice and understand the inner workings of the finance department of a company.

The skills that are important to me in order to be successful in the field of finance are skills like analytical skills, problem solving skills, quantitative aptitude, communication skills and interpersonal skills. The first three skills (analytical skills, problem solving skills, quantitative aptitude) are important to me as it is on the basis of these skills that I will be able to think laterally, analyze different financial scenarios and tackle complex problems. The next two skills (communication skills and interpersonal skills) are soft skills and this will help me to better deal with other people and perform my role in a more effective manner.

The job prospect in the field of finance over the next 10 years looks very promising. The world is becoming flatter and with increasing globalization companies will expand aggressively. This will entail companies raising capital through IPOs, bond issues, etc. Thus investment banking will be an attractive career option and will grow manifold in the next 10 years. Companies will also look at investing in capital projects as they expand and hence the field of corporate finance will also increase manifold in future. Lastly companies will have funds and extra cash that needs to be managed in an optimal manner and this will expand the treasury functions of companies substantially in future.

CFO has a fiduciary role as the role of a CFO involves trust. A CFO acts on behalf of the company and its stakeholders when managing its money and financial resources. CFO has to manage the money and financial resources of the company in a manner that is in the best interest of the company, its investors and stockholders and other stakeholders as well. Hence there is a financial responsibility on the shoulders of CFO.