Industry Profile -- by Mike Kimmel

Our society deals with monetary issues every single day; therefore financial services and its careers possibilities are crucial. Because finance is so critical in our daily regimens it is important to be aware of these many career opportunities. Positions in the finance industry range from being a teller in a small bank, to a financial planner working out of the house, to being a chartered accountant in a large, multi-national company.

Above average math skills and the ability to work long hours are key in this industry. People skills are also extremely important. The educational requirements vary greatly depending on the career pursuit. Projected job openings vary as well. For example, the provincial government predicts job growth for financial and investment analysts will grow at a pace well above average to 2005 while forecasting limited job growth for financial services tellers. The following is an overview of positions available in the financial industry (keeping in mind many careers listed here have a number of alternate names as well):

Accountants oversee accounting information systems that often include records of assets, liabilities and business transactions. Preparing budgets, tax returns and financial statements are also common duties. Regardless of designation (there are three), accountants usually work in an office setting and often work overtime at month-end, year-end or tax season. A combination of post-secondary and practical experience is required.

• Pay will range from about $20,000 to $70,000 a year

Banking and Investment Managers promote their company's products and services, as well as plan and budget for their establishment. Long days are common and some travel may be required. Usually a university degree or a college diploma is required.

• Pay will range from about $20,000 to $90,000 a year

Financial Analysts assess risks and returns from investments before making recommendations to clients. Financial analysts work long, intense hours in an office environment daily facing multiple deadlines. Most employers prefer analysts to have a degree and experience, along with requisite industry training.

• Pay will range from $30,000 to $80,000 a year

Bank Tellers handle cash, keep records and help customers with savings accounts, personal accounts, and chequing accounts. Full-time bank tellers work 35-40 hours a week which may include evenings and Saturdays, although many tellers work part-time. Paydays can be very busy and stressful. Tellers must have at least a high school diploma.

• Pay will range from about $20,000 to $35,000 a year

Accounting Clerks prepare customer statements, make up cheques, and enter data into computers. Accounting clerks typically work Monday to Friday, but some overtime may be required. Educational requirements vary depending on the company and clerk responsibilities.

• Wide range of pay, from $15,000 to $50,000 a year

Credit/Loan Managers offer loans and credit to qualified individuals and businesses. One-on-one personal interaction is constant while working long hours in an office environment. Employers prefer managers with post-secondary education in economics, commerce or finance.

• Pay can range from $20,000 to over $80,000 a year

Financial Planners help clients set financial goals and deal with bank account, income tax, life and disability insurance, pension plans and wills. Planners may work out of their homes or in an office environment, and most meet clients at their homes' or businesses'. Post-secondary education is recommended but there are no standard educational requirements.

• Pay varies widely and typically depends on the size of the client base but can go over $100,000 a year

Collection Clerks work in financial institutions, governments and collection agencies to collect payment from those who have not met their financial obligations. Collection clerks typically work in an office. A computer and a phone are the key tools. A minimum of a high school diploma is preferred.

• Pay can range from under $20,000 to around $40,000 a year