Career Choice: Financial Planner

What do Financial Planner do?

Financial planners help people decide how to invest their money. They work for banks, insurance companies, mutual funds, and securities firms. They often meet with company officials to learn more about the firms in which they want to invest. After the meeting, they write reports and give talks about what they found out. Then they suggest buying or selling that firm's stock.

Financial planners may specialise. Those in investment banking study the companies that want to sell stock to the public for the first time. They also might study the pros and cons of a merger or takeover. Financial planners who are called ratings analysts find out if companies that issue bonds can repay their debt.

Financial Planner usually work in offices. They may work long hours. Some may have to travel to visit clients or talk to investors, sometimes on evenings or weekends. Many also face the pressure of deadlines. They may do research on various firms after office hours, because their day is filled with telephone calls and meetings.

How do I prepare to become a Financial Planner ?

Most financial analysts have a university degree in business, accounting, statistics, or finance. A master's degree in business administration (MBA) is desirable.

Math, computer, and problem-solving skills are vital. Working with clients requires good people skills. Confidence, maturity, and the ability to work on your own also are important. They need good communication skills to present complex financial concepts in simple language.

Financial analysts must like to seek out obscure facts and details. They also should know how the economy, tax laws, and money markets work.

What are the earning potentials?

Weekly Earnings (full time and before tax)

• $1000 - All Ages
• $691 - Ages 20-24

Source: ABS Employee Earnings, Benefits and Trade Union Membership, August 2003.

What are the Job prospects for Financial Planner ?

• Very Good < Financial Planner
• Good
• Average
• Below Average
• Limited