If you are an innate problem-solver and an exceptional leader, you may want to become a financial manager. Since every company is in business to make a profit, there will always be a need for finance professionals and executives to keep the company’s financial affairs in order. A manager is in charge of all of the functions involving money within an organization. They also work closely with other teams and executives to deal with legal issues that can affect financial health. If this is a career that you are interested in, here are the steps that you must take to become a financial manager:
Enroll in an Undergraduate Program
The very first step to becoming a financial manager is to enroll in a 4-year bachelor’s degree program majoring in business administration, finance, accounting, management or another related area. The program will focus on financial planning, portfolio assessment, the principles of economics, and securities so that you’re ready for a graduate program and a professional certification.
Complete an Internship
One way to get your name known in the field before you really have professional experience is to complete an internship. In fact, future finance professionals can benefit substantially from spending their breaks and summers as an intern with one of the larger finance companies. Not only do about 67% of internships get a full-time job offer, you can also find an employer that will help pay for your graduate degree, according to Internships.com.
Enroll in a Master’s Degree Program
A majority of companies prefer to hire a financial manager who has a master’s degree. In fact, you must have a graduate degree in a relevant area of study to sit for most of the certification exams that you need to pass to become a credentialed professional who holds a professional certification.
It is best to plan to earn your graduate degree before you even pursue a management position. Since there are so many candidates for the executive-level positions, having your graduate degree will really help you compete. Consider majoring in areas like finance, business administration or accounting to cover global finance and financial modeling.
Get Work Experience in Finance
If you decided not to complete an internship or you did not get a job offer, you might have to get professional experience after you earn your master’s degree. Most high-level personnel in an area like finance are hired from within. This means that you have to work your way up from entry-level positions and analyst positions to positions where you are in charge of a team or a department.
Test for a Professional Certification
Professional certifications show that you are a competent finance professional who is dedicated to the field. There are a few different certifications that can be helpful to add to your resume. Decide if you want to sit for the Chartered Financial Analyst exam, or the Certified Public Accountant exam if you want more job opportunities, according to the CFA Institute.
Related Resource: What is an Early-Career MBA?
It is very important that you build relationships as you earn your degree and as you gain professional experience. As long as you are skilled and educated, you should find that new opportunities will open up as you gain experience. Now that you know what to do to become a financial manager, you can get started.
