Financial Analyst Jobs: Duties and Responsibilities

Financial Analyst Jobs: Duties and Responsibilities

Recent college graduates who are looking for entry-level finance jobs often seek out financial analyst positions to kick off their finance careers. If you think a career in finance is in your future and a position as a financial analyst might be right for you, make sure you’re up for the duties and responsibilities involved first.

Financial analysts work long hours, are often required to travel at a moment’s notice and must be willing to immerse themselves in extensive research to succeed. They must also be able to grasp and communicate (verbally and in writing) complicated economic and financial insights and data in order to make financially sound recommendations to the companies they support.

This takes a lot of courage, especially if you are making recommendations that involve millions or even billions of dollars.

Another thing to consider when looking for an entry-level finance position is the type of company you would like to work for starting out. The experience you gain now may dictate where you end up working later on. A variety of types of companies hire financial analysts, such as:

- Private banks.

- Investment banks (buy-side or sell-side).

- Brokerage firms.

- Insurance companies.

- Private corporations.

- Government agencies.

Think you have the passion, stomach and work ethic to make it as a financial analyst? Here’s a breakdown of the duties you’ll be required to perform.

Research, Research and More Research

In general, the role of a financial analyst is to cultivate and review large volumes of data then formulate a recommendation based on what you have learned. You will need to examine national and global trends in economics and finance and make predictions based on this research.

Financial analysts also spend time researching the strengths, weaknesses and risks associated with different companies based on the type of firm for which they are working. They are often required to make lengthy, onsite visits to the companies in question during this research phase.

You may be wondering how an analyst’s duties vary based on the type of firm. While the core responsibilities are very similar, there are some differences, because goals vary from one type of firm to the next.

A financial analyst working at an investment bank will research and evaluate companies to determine risks and the potential benefits and profits pertaining to mergers, acquisitions and IPOs (initial public offerings). They will need to closely evaluate financial and economic conditions and often utilize forecasting tools and models.

A financial analyst at a buy-side investment firm will research companies to determine which businesses their organization should or should not purchase stock in for an in-house fund that the firm manages. They also need to closely evaluate financial and economic conditions and often utilize forecasting tools and models.

A financial analyst at a sell-side investment firm prepares research reports for buy-side firms that are looking to purchase stocks to add to an investment fund. These analysts often focus on a specific industry sector and will spend time comparing the quality of securities in that sector. Ultimately they will recommend whether to buy, sell or hold specific stocks.

A financial analyst at an insurance company or private corporation will research a variety of economic and financial data pertaining to the specific industry at hand. In addition, they will look closely at the financial health of the company itself or other companies that it may have an interest in presently or in the future.

Financial Presentations and Reports

Once the analyst has wracked up hours of research and analyzed untold amounts of data, they need to present their recommendations to a department head or team, depending on the firm.

This is where it helps to have solid technical writing skills as well as experience with preparing spreadsheets, charts and graphs. A good analyst will be able to prepare a technical financial report that clearly supports the recommendations they are making – with both numbers and words.

Staying Abreast of Current Economic and Finance Trends

Along with the company and industry sector specific research that analysts perform, they also need to read general financial and economic industry reports, research, journals, newspapers and the like to stay on top of trends in the finance industry as a whole. Seeking out webinars, media reports and industry events also help top financial analysts stay informed.

So if you still think you’re up for the hard work and long hours that come with a career as a financial analyst, Doostang is here to help. Visit our website to search jobs, today. It only takes 30 seconds to sign up.

Photo Source: Shutterstock

Sources:

“Career: Financial Analyst.” Princeton Review website. Available at http://www.princetonreview.com/careers.aspx?cid=68. Accessed Nov. 15, 2013.

“Becoming a Financial Analyst.” Investopedia website. Nov. 4, 2012. Available at http://www.investopedia.com/articles/financialcareers/06/financialanalyst.asp. Accessed Nov. 15, 2013.

“Best Business Jobs: Financial Analyst.” U.S. News and World Report website. Available at http://money.usnews.com/careers/best-jobs/financial-analyst. Accessed Nov. 15, 2013.

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How To Land the Highest Paying Finance Jobs on Wall Street

How to Land the HIghest Paying Jobs on Wall Street

If you plan to climb your way up the corporate ladder and secure one of the top paying finance jobs on Wall Street, be prepared to pay your dues. The most coveted Wall Street jobs typically require an MBA and several years of toiling away in the trenches.

There is no question that finance jobs can pay well, which is one of the main reasons people choose to pursue careers in finance. Even entry-level financial analysts can expect to start out well. According to the Bureau of Labor and Statistics (BLS), the 2010 median annual income for a financial analyst was close to $75,000.

For finance pros who hope to earn the big bucks – millions of dollars in salary and bonuses – the opportunities are better in finance than in many other fields. It still isn’t a piece of cake to land the highest paying finance jobs on Wall Street or elsewhere. If you do want to aim high, here are a few jobs you might consider along with some insight on what it takes to get hired.

Stockbroker

If you have a 4-year degree, competitive spirit, thick skin and excel at networking, a career as a stockbroker might be a good option for you. Your degree might get you in the door, but you’ll have to work hard and compete with hundreds of other brokers to get the most desirable, high-net-worth clients to utilize your services. Long-term success in the brokerage world relies on referrals, so you need to deliver great results for your clients in order for them to recommend people from their circle to you.

Head of Investment Banking Firm

Have you set your sights on the investment banking world and the big paychecks that come with it? Getting to the top of an I-bank isn’t a walk in the park. While entry-level investment banking jobs pay a decent wage to start – you can expect to make about $75,000 per year – you will need to have a top-tier MBA, do your time as a financial analyst (80 to 100 hours a week) and be a great networker to become a head of an I-bank. You will also need to be a stand out contributor in big-money deals, have strong accounting skills and be able to deal with egos and office politics to get the top investment banking jobs.

Chief Risk Officer

If you have a passion for risk management, actuarial work and your MBA in hand, the role of Chief Risk Officer could be your ticket to a big payday. The demand for experts in risk management has grown in recent years due to the economic collapse. Expect to spend your early finance career years doing actuary work (the median income level for actuaries was close to $90,000 in 2010 according to the BLS) and accumulate a decade or so of managerial experience before qualifying for this position. Excellent communication skills – verbal and written – are a must for Chief Risk Officers.

Mutual Fund Manager

Are you a team player who is willing to spend time in the trenches researching companies and fetching coffee? A career in mutual funds might be a good fit for you. Entry-level mutual fund analysts can expect to make a decent starting wage similar to other entry-level finance positions. Once you make your way on to a mutual fund management team, salaries in the low to mid six figures are common. Managing multi-billion dollar funds comes with a great deal of pressure, because a lot of people are relying on your decisions, so you’ll need to handle stress well. Mutual fund companies also prefer to promote from within, so you’ll want to avoid job-hopping to land the top-paying mutual fund jobs.

Finance Media Superstar

If you’re looking to see your name in lights – or on the TV screen – you could expect to make a good chunk of change in the finance world. According to Forbes, big names like Suze Orman and Jim Kramer can pull in $10 million to $20 million or more annually. In order to work your way up the media ranks, you’ll need to start with a journalism degree, and an MBA will help get you in the door at the top media networks – Bloomberg, ABC, NBC, CBS or Fox. Expect to spend several years working behind the scenes doing research and supporting other players before you get your chance in front of the camera and a book on the New York Times bestseller list.

Head of Mergers and Acquisitions

Like other finance careers, you’ll need to do your time as a financial analyst and have an MBA to be a top M&A earner. Expect to do the legwork, research and number-punching for a managing director then set your sites on an associate position at one of the top banks. You’ll need to advance your career from associate to VP to managing teams and hone your relationship building skills along the way if you hope to land a top job in mergers and acquisitions.

Big Money Means Hard Work and Time Invested

All of these finance jobs have several things in common, aside from the multi-million dollar paydays. If you want to secure a top job on Wall Street, you will need a great education, an MBA, years of experience working through the ranks and a strong network. If you hope to make your way to the top, expect to invest many years getting that top degree and working hard.

Photo Source: Shutterstock

Resources:

“Occupational Outlook Handbook; Financial Occupations.” U.S. Department of Labor, Bureau of Labor and Statistics. 2012. Available at http://www.bls.gov/ooh/business-and-financial/home.htm. Accessed Nov. 11, 2013.

“Making It Big on Wall Street.” Forbes website; May 18, 2013. Available at http://www.forbes.com/sites/investopedia/2013/05/18/making-it-big-on-wall-street/. Accessed Nov. 11, 2013.

LaRoche, J. “Can’t be a CEO? Here are 9 Other Super High Paying Wall Street Jobs and What You Need to Do to Get Them.” Business Insider website; July 20, 2012. Available at  http://www.businessinsider.com/9-high-paying-wall-street-jobs-2012-7?op=1. Accessed Nov. 11, 2013.

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Chairman & CEO of Goldman Sachs Gives Advice to Summer Interns

Chairman & CEO of Goldman Sachs Gives Advice to Summer Interns

“Ambition is your inner voice that tells you, you can, and should, strive to go beyond your circumstances or situation in life.”

- Quote from Lloyd Blankfein, Chairman & CEO, Goldman Sachs, during his commencement speech at LaGuardia Community College.

Every year, some of the biggest accounting and finance firms engage the best college students on the planet to gain experience in the business through summer finance internships or accounting internships. Goldman Sachs carries on this tradition annually and offers internships at its many locations worldwide.

This leading global investment banking, securities and investment management firm employs 30,000 people, was founded in 1869 and is based in New York. At the helm is Chairman & CEO Lloyd Blankfein, a graduate of Harvard Law School who eventually made his way into the world of finance and Goldman Sachs.

During the final week of the 2013 summer internship program at Goldman Sachs, Blankfein was invited to sit down with Edith Cooper, Global Head of Human Capital Management at the firm, and answer a few questions from Cooper and a number of interns as well.

From Law to Finance

Cooper started off with Blankfein’s quote above, then inquired about the CEO’s early days in law and how his days are different in the finance world. He remarked that in the finance world, things and priorities could change every day, making it a more interesting lifestyle than his life as a lawyer.

Blankfein went on to talk about his work life today. “There’s aspects of what I do that are a lot of fun, and even some things that I do that are fun can carry a lot of anxiety with it … I have times that I really enjoy and times that I am really stretched … but we are all stretched.” He went on to acknowledge, “Not everything I do has the potential for being fun.”

The CEO also talked about the cooperative atmosphere at Goldman Sachs, and how important the individual players are at the firm. Cooper concurred, “people are our biggest asset.”

“Be Interesting”

Both Blankfein and Cooper stressed the importance of diverse backgrounds at the firm, and how most leaders that young people aspire to be like didn’t necessarily take a straight line to success. “Those people who you want to emulate in the world … what did they do?” asked Blankfein.

Cooper pointed out that she and Blankfein are very different personally and professionally, and their clients are very different and that these different backgrounds and interests are important to the success of the firm. To which the CEO added, “Be a more interesting person.”

One of the interns from Salt Lake City was curious how Blankfein’s upbringing in Brooklyn shaped his view of the world. The CEO seemed to downplay this, saying “Whoever you are, whatever your station in life, you play the cards you’ve had.”

As for his life today, Blankfein is grounded by the circumstances and enormous responsibilities of his role, saying “the goal is to be successful in the job and be thought of well and produce a good legacy and leave the place stronger than when you found it.”

Relax

Cooper asked the CEO to close with one piece of advice for the interns as they look forward to careers in finance and beyond. Blankfein said, “people at the age of people in the room can relax a little, too.” He urged them to be less concerned about where they needed to be career wise, adding that they should “try to get it right, but it’s very unlikely that you will, and not highly consequential right away … Work hard, try to get it right, and be a little less anxious.”

His final words? “Lighten up.”

You can view the interview in its entirety at the Goldman Sachs website. Go to:

Lloyd Blankfein Edith Cooper Interview

Photo Source: Shutterstock

 

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Why are Millennials Prone to Job Hopping?

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Millennials Breaking the Mold

In a recent survey by Beyond.com, statistics show how costly it is to retain and fire a Millennial employee. This has become an issue for employers because more and more Millennials are focusing on dream careers, rather than the opportunities they currently have.

The mold created by Millennials is causing them to have a hard time committing to a single job. Generation Y is all over the place with regard to their careers because they continue to search for opportunities to get one step closer to their dream job. However, it’s time for Generation Y to break the mold and start focusing on what’s truly important in their careers.

Search for jobs that aren’t necessarily your dream job. 

Hopefully, this doesn’t sound crazy to you GenY professionals. A lot of Millennials are anxious to begin their careers, hoping they’ll land their dream job after college. However, it’s important to remember you can’t find your dream job overnight. This is why you need to search for jobs based on what you want to gain from your career, not the type of company or position that would feel like a dream come true. Sure, everyone wants the opportunity to work for Google or Apple; however, when you build up your dream job in your mind, it’s easy to overlook amazing opportunities that come your way each day.

Find companies that fit your career path.

If you’re looking to advance in your career, then you should definitely look for jobs with companies that allow room for growth. You don’t want to find yourself switching jobs every other year because you’re working for companies where you cannot advance your career. It’s very important to be thoughtful when accepting job offers. You want to make sure you find a position where you can develop your career and continue to learn new skills. Generation Y often falls into the trap of searching for the next best thing, often overlooking opportunities with great companies. However, when you focus more on your career goals rather than your dream career, you can find a company that offers you a very rewarding experience.

Be flexible and open to new opportunities. 

You never know when a door will open for you to advance in your career. This is why it’s very important for you to have a flexible attitude with your current job. Generation Y tends to focus heavily on their path to a dream job, which causes them to miss out on opportunities that fall into their hands. If you happen to be offered to take on a new project or even move to a new department in your company, have an open mind. Try to embrace this type of change because you never know where the opportunity could take you down the road in your career.

Know your value before you act quickly. 

Generation Y often gets a bad reputation because some Millennials have the tendency to think highly of themselves and their talents. Whether you are fresh out of college or you’ve been in the workforce for five years, it’s important to know your value as a professional. Your value depends greatly on the experience you have and the strength of your skills. So, before you jump the gun by thinking you deserve an amazing position at any company, make sure you have the credentials to support your expertise.

Employers definitely benefit from the knowledge and experience of Generation Y. However, as a Millennial, it’s important for you to not feel overly-confident because of this. Break the Millennial mold by being open-minded and flexible in your career path. It’s okay to not always have a strong emphasis on finding your dream job. If you are currently employed, see what opportunities are available within your company before moving on. Sometimes, all you need is a positive attitude and an open mind to lead you down a successful career path.

What ways do you think Millennials are breaking the mold in their careers? 

For this post, Doostang thanks our friends at Come Recommended.

 

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What Skills Are Employers Looking For?

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As a job seeker, you need to know that employers look for a set of skills that stretch beyond your qualifications and experience. The highly competitive job market makes it necessary for you to enhance your employability and stay at the winning edge of the job seeking process to be able to land on your dream job. Though education, knowledge and technical skills needed for a given job role are important, they will only take you till the interview hall. While there are hundred others who have applied for a particular role, you can impress your employers only with a set of soft skills that can give them a testimony to your performance and suitability to the job. The set of soft skills we are talking about are also called transferable skills that can be applied over all the job sectors in general. These are necessary to discharge any of your job roles effectively and will be highly useful to you while shifting between jobs or applying for better jobs. This article focuses on three most important job skills needed for job seekers namely communication skills, creativity skills and organizational skills.

Communication skills

Communication skills refers to your ability to communicate correctly, effectively and precisely to a variety of audience in written, spoken and visual modes through a wide range of media. Communication skills also overlap interpersonal skills that include verbal and non-verbal communication (body language and mannerisms) and the art of listening, persuading, influencing and exhibiting sensitivity and diplomacy. These are essential for negotiation, conflict management, team building and consensus building the set of skills that are common to most job roles. Communication is a comprehensive topic and stretches across communication, interpersonal skills, computer or technical literacy skills and teamwork skills. Some of the ways in which your employer can judge you with respect to these skills include the language and presentation skills you use during the interview process, the way you tackle the questions asked by the interview board and the resume and the material you submit during the interview. Communicational skills can not only help you with your work but also can protect your rights given in the state and federal labor law posters, since smooth communications between you and your employers can get your rights well respected and protected if you think your employer is acting against the law.

Creative skills

Creative skills can be thought of as comprising critical and creative thinking. This set of skills generally includes the ability to gather information from various sources including oral, written, artistic and scientific content; the power of expression, reflection, observation, experience and reasoning. Creative skills also mean the ability to analyse and solve problems of different natures across disciplinary, professionals, social and personal realms. Creative thinking includes thinking out of the box to apply a situation across various possibilities and devising strategies and solutions to move forward successfully. The other dimensions of creativity skills are innovation, originality, risk taking and evolving good ideas and practices. Creativity skills also imply the ability to apply the knowledge and skills across newer platforms and newer possibilities.

Organizational skills

Organizational skills are crucially important to accomplish any job related assignment. One of the most important dimensions of organizational skills is leadership qualities including the ability to influence, motivate, mentor, guide and enable the members of the organization contribute their lot for the success of the organization. Organizational skills also mean the ability to acquire and apply other set of skills like communication, critical thinking and problems solving in a working atmosphere or while arranging for an event or program. People with good organizational skills should be able to identify problems and solutions, working with challenging environments, empower the members under them, and facilitating teamwork.

In addition to acquiring the qualification and skills required for their field, people seeking for jobs must also develop the above said set of soft skills in order to climb up the ladder of professional success.

For this post, Doostang thanks our friends at Under30Careers.

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Doostang Employer Spotlight: Janes Capital Partners

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Janes Capital Partners (Irvine, CA) is a boutique investment bank, specializing in the aerospace and defense industry.  Their clients are middle market firms, and their primary product is Mergers & Acquisitions.

Interested in learning more about Janes Capital? Visit their website, and connect on LinkedIn.

Interview with Rick Phillips, Managing Director at Janes Capital Partners

What is the work culture like at Janes Capital?

The work culture is team based.  We are a small business, so everybody has to work together in a team.  We are collegial, but success driven because we are bankers.  We are very focused on achieving success for our clients.

What are the common attributes of your top performers?

Everybody at our firm is intelligent and capable.  The number one thing that sets people apart is attitude.  You have to really want to succeed as an investment banker.  You should be willing to do whatever it takes to achieve success for your client.  Also, raw intelligence to figure out problems and the financial skills to do the work counts.  Our top performers have great people skills: the skills to get along with the client, the people in the firm, and the other organizations that are on the other side of the deal.

You also have to be very good at handling and juggling multiple priorities.  The ability to meet commitments makes a good performer.  Work migrates to the people you can count on to do the work right, on time, with minimal errors.

What are you looking for in a new hire?

Attitude, skills, and intelligence, with some amount of experience.  One of the things that sets our hiring process apart is that we have a skills-based project as an integral part of our hiring process.  All of our candidates submit a project that demonstrates basic investment banking skills including quantitative, qualitative and writing aspects.

We’re also looking for people that we think will be fun to work with and who enjoy the industry, which is required to succeed in investment banking.

3 reasons to work here:

-Opportunity to contribute to a growing firm.

-Learn a ton.

-It’s a place that wants everybody in the organization to succeed.

Any advice for job seekers interested in Janes Capital?

You really need to understand both the job you’re applying for and the company you’re applying to when you send in the application and cover letter.  You can tell who actually knows what they are getting into.  We’re a growing boutique investment bank and we’re always looking for people who have the capability to succeed in a small, client focused bank, and who are interested in aerospace and defense.

 

 

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Doostang Employer Spotlight: China First Capital

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Interview with Peter Fuhrman, Chairman and Chief Executive Officer of China First Capital.

CEO

What sets China First Capital apart from other financial services employers?

We are an internationally-owned China-focused investment bank and advisory firm. Our belief is an investment bank can, and should, be a force for good. This is especially true in China. The purpose and goal of our work each day is to assist in the positive transformation of China. We do this by working selectively, and at the highest level of professionalism and integrity,  with some of China’s most important and successful companies, both private sector and state-owned. We measure our success not by the fees we earn or the bonuses we pay, but by helping our clients achieve their business goals. We choose our clients and transactions carefully, working only on those that promise to deliver wider benefits to China, by increasing wealth, consumer choice, China’s international competitiveness, the efficiency and transparency of the country’s financial sector.

We are in business to make a positive, lasting difference.

We enjoy both a leading position and a strong reputation in China investment banking.  Along with our investment banking and advisory work for clients, we are also a “thought leader” in the industry. Our research reports and commentaries, both in English and Chinese, circulate widely among business leaders, and are published in China’s leading newspapers and magazines. An example, our research into the developing crisis in China’s capital markets and private equity has had significant impacts on large capital flows as well as opening new and productive opportunities for M&A deals across the country.

What is the work culture like at China First Capital?

We are highly collaborative. But, in the end, the source of our strength and success is the strong commitment and very high standards of each individual at our firm. In other words, our company aims to be a place where high achievers with strong self-direction can flourish, their goals nurtured by the chairman and backed by the collective intelligence and experience of the entire team.  We are straight-talkers, both with one another and with clients. Bureaucracy, BS and hierarchy are not tolerated.

We try to combine positive aspects of both East and West. We draw heavily on the Confucian traditions of humility, conscientiousness, simplicity and honesty. Equally, we strive to be path-breakers in the investment banking and advisory industry in China, by making available for China’s private sector entrepreneurs the best practices, deal structures, financial innovation and rigorous analysis of large Wall Street institutions.

Though based in the southern city of Shenzhen, where the private sector first took root in modern China, we have a business that as broad and diversified as China itself. We have clients from every region as well as most industries in China.  (For a look at some of China First Capital’s recent clients and transactions, click here. )

We have more and better opportunities than most firms our size. So, we try continually to expand the range of our skills and the real-world value of our knowledge and experience. This is the fuel we use as an investment bank to help propel China’s long-term growth and prosperity.

What are you looking for in a new hire?

Above all, a person with a “higher calling”, a deep and unchangeable desire to devote one’s energy, talents, education and intellect towards a useful and positive purpose — not purely towards accumulating higher sums in one’s bank account.

We build relationships of deep trust with entrepreneurs and business leaders who are far more accomplished than we are. And yet, they seek to rely on our judgment, professionalism, honesty and strong morals. As a result, we look for people who, though often younger than the Chinese CEOs we work with,  can inspire and earn such levels of trust and respect.

3 Reasons to work here:

Each day you will leave the office knowing that you are engaged in work that will help change China for the better. You will learn more about more than you could just about anywhere else. China is a country undergoing history’s most successful sustained economic transformation. You will both witness and participate constructively in that process of positive change. It’s our belief there is no better work, anywhere, than jobs that allow you do this.

Any advice for job seekers interested in China First Capital?

Take the time to read closely and evaluate the materials and introduction on our website, www.chinafirstcapital.com.

If we seem to be articulating goals and a world view that is in harmony with yours, then please send us your resume, along with an explanation (not a canned cover letter) about why you think our company, and the work we do, are the best place for you to learn, grow and flourish in a long-term career.

We are committed first to our clients’ success, not to our own glory, status or wealth. This is our greatest competitive advantage as a company and a reason so many of China’s best companies seek us out and seek our help to achieve their ambitious goals.

Interested in learning more about China First Capital?  Visit their blog for information about key trends in China’s private equity industry, M&A and capital markets. You can also view China First Capital’s recent research reports here.

 

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How To Ask For a Promotion

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June is one of the top three months for professionals in the U.S. to get promoted within their company, according to a study conducted by LinkedIn. The other two months are January and July. Take advantage of the next two months and get ready to ask for a promotion.

Even though these are the best months, asking for promotions always requires a good amount of prep work. Here are a few ways to ask for a promotion in June and July:

Emphasize your accomplishments. If you’re asking for a promotion, you must have quite a few accomplishments in your current role to make you believe you’re read to be promoted. Just like when applying for any other job, it’s important to highlight these achievements by talking about the results. Specifically, have solid data or numbers to show measurable ways your work has helped the company. You should keep track of your accomplishments and data throughout your career so they’re handy when it’s time to prove your worth.

Build your network. Get to know the higher-ups in your company. Reach out to these professionals for advice and build strong relationships with them. Look for people in the positions you want to be promoted to in the future. Set up meetings or lunches with these professionals and ask about their jobs. Learning right from the source will help you better understand their role, plus they’ll know you’re determined. Today’s mentor can become tomorrow’s peer.

Learn new skills. Your skills are just as important now as they were when you got your current job. Demonstrate your dedication to moving up in your company by continuing to develop new skills. You can do this by attending workshops, webinars, or taking classes. Look for scholarships or reimbursement programs in your company or professional organizations. Learn the skills that are currently lacking in the position you want and show your boss why you can do the job.

Volunteer for more work. Start taking on more commitments now to show you’re ready to be promoted. Volunteer for extra projects and put lots of care into their completion. By taking on more work in your current position, you will demonstrate your ability to handle the responsibilities of a promotion. This works really well if the extra projects are related to the position you want in your promotion.

Create a new position. One way for professionals to get promoted is to create a new position entirely. Look for a need not being filled within your company and determine a way to fix it. Develop a game plan and present your ideas to your boss. While this might not be a normal promotion, the extra responsibilities might turn into a new title or pay raise.

Once you’ve given your pitch to your boss, all you can do is to wait for the powers that be to make a decision. Patience is an essential quality to develop in any career, and this is definitely an opportunity to test it. Promotions require a lot of balancing on your boss’s end. Just continue to develop your accomplishments, skills, and network. It might take time, but stay determined to reach your goals.

What advice do you have for professionals asking for promotions this month?

For this post, Doostang thanks our friends at ComeRecommended.

 

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Can I Work While I Get My MBA?

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5 Tips to Balance School and Work for MBA Students

In many ways working while pursuing an MBA is a great idea.  There are the obvious benefits of earning an income while attending graduate school or getting your company to pay for part of your tuition, but perhaps most importantly, working while pursuing an MBA helps you examine business theory through real world application which may result in a more robust learning environment for you, your classmates and your professors.

So, how do you enjoy the benefits of working as your pursue your MBA, while keeping other aspects of your life in balance?

1. Strategize and Plan

Buy a planner or install a mobile app to keep track of your life.  You have to be constantly aware of your many commitments.  Don’t agree to a meeting time, family event, or business engagement without first checking your calendar.

It is entirely possible to manage all of the responsibilities of your life, but you must accept that your schedule will lose its flexibility; keep a close eye on your obligations to avoid double booking.

2. Make Time for Yourself

Be sure to set aside time every week to “do you” – go to the gym, catch up with friends over dinner, or watch your favorite programs on DVR.  If you don’t recharge your batteries you won’t have enough energy to focus on achieving your goals.

3. Communicate

Discuss your upcoming schedule with your family, professors and employer to address any anticipated conflicts in the coming in the months like a business trip that will cause you to miss class, or needing time off from work to study for finals.

4. Be Realistic

Be realistic about needing help from others.  If your mother offers to watch your children over the weekend, or co-worker offers help with a project – say thank you.  Also, don’t be afraid to ask for help when you need it.

Be realistic about your academic expectations – a B is not a bad grade!  Think about how many times people have actually asked you about your undergraduate GPA.  If you struggle in a class and wind up with a lower grade than you had hoped for don’t get stressed – if you’re learning you’re accomplishing your goals.  Try your best, but don’t kill yourself in the pursuit of absolute perfection

5. Take Assignments with You

Keep your schoolwork with you so you can complete a reading assignment while you wait for a meeting to start, work on a paper during your lunch hour, or respond to emails while you watch TV.  Take advantage of opportunities to get small tasks done throughout the day. If you keep your coursework readily accessible you may be surprised by the amount of work you get done while you are waiting for other things to happen.

Working while earning your MBA will be a challenge, but with careful planning and good communication you may be able to balance your life and get the most out of your academic experience.

About the Author:  Mandy Fricke is a community builder for Gradschools.com online masters programs. In her free time she enjoys biking, traveling, and reading in coffee shops.

 

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