The Department of Accounting, Finance, Insurance, and Risk Management (AFIRM) has produced its Fall 2020 Newsletter. In this issue we welcome Blake Reed who will be teaching Business Law. There's advice for coping in these unprecedented times of uncertainty, and a spotlight on Tyra Dowell, an accounting major and graduating senior. Everyone at Indiana State would like to echo the newsletter's final words, "We are here for you. We also know that if we work together as a Sycamore Family, we can rise to any crisis."
As a business student you may ask: Why should I choose finance for my major or minor? Choosing finance as your major or minor provides you with many benefits. First, finance is used not only in everyday life but also day-to-day business. Without proper financial management no business can provide better products to its customers at lower prices, pay higher salaries to its employees, and still provide greater returns to its stockholders who provide the funds needed to form and operate the business. Second, finance is a large and growing field, which offers many career opportunities with good salaries and potential for professional growth. In addition to corporate finance, there are growing opportunities in personal financial planning and wealth management.
There are three interrelated areas in finance where you can find such rewards:
- Financial Institutions, which includes businesses that deal primarily in financial matters, such as Commercial Banks, Credit Unions, Savings & Loans, Insurance Companies, and Investment Bankers. Job opportunities in these institutions may be in areas such as, among others, Consumer Lending, Corporate Banking, Branch Manager, Credit Policy, and Underwriting;
- Investments, which includes Businesses Sales, Analysis and the optimal mix of Financial Assets, such as Stocks, Bonds and Others, for a given investor or corporation. These offer various careers opportunities such as Stockbroker, Financial Adviser, Wealth Manager, Personal Financial Planner, Security Analyst, Money Manager, etc.
- Business or Managerial Finance, which is the broadest of all areas, since business finance is important for all types of business, whether they are public or private, financial institution, or manufacturing company. Finance jobs in this area may range from tasks that require making decisions with respect to plant expansions, to choosing what types of securities need to be issued, to financing the expansion. Deciding credit terms, inventory analysis, cash inflows and outflows, dividends and portfolio analysis are other business finance related tasks.
Students interested in financial careers receive an excellent professional financial education through the College of Business’ Finance Program. In the Finance Program, students select a concentration in either Business Financial Analysis and Investments or Personal Financial Planning. You will find highly qualified faculty members, well defined jobs in the field, and other resources, which if properly used will lead to excellent career prospects. Come to see us, if you have not done so. Our faculty members are looking forward to having the opportunity to see you and explain any question you may have.
Dr. Jin Park