The financial industry is a broad one. Its members include a wide range of professional services firms, and within those firms, many different jobs require financial experience and expertise. Whether you are considering a career in finance or honing your career goals in the field, knowing where the job openings are in finance – and what they require – can be key to executing your career plans.
Common categories of financial industry employers include:
- Investment banks. Investment banks provide strategic advice and financing to corporations, government bodies, and other large organizations. They also engage in buying and selling various securities, including stocks and bonds. Investment banks regularly hire investment bankers, security salespeople, and traders.
- Commercial banks. Commercial banks hold deposits and make loans. Some large commercial banks also perform some investment banking tasks, like capital raising and trading. Commercial banks hire a wide range of financial professionals, including tellers, investment bankers, security salespeople, and traders.
- Money management firms. Money management firms specialize in managing investments, whether for individual investors or for institutions. Money management firms range in size; larger firms may manage a wide range of investments, while smaller ones may specialize in particular types of investments, like high-yield bonds. Portfolio managers and security analysts are often in demand at money management firms.
- Hedge funds. Like a money management firm, a hedge fun manages money for institutions and wealthy individuals. Hedge funds, however, typically take more risks than money management firms, since their focus is typically upon providing higher returns than money management firms average. Hedge funds may have more leeway in choosing investment tools and strategies. Like money management firms, they often hire portfolio managers and security analysts.
- Private equity firms. Private equity firms serve the same customer base as money management firms and hedge funds, but they usually purchase entire corporations, often turning public corporations into private ones and attempting to turn a profit by improving the financial health of the companies they purchase or by increasing the return on owners’ equity by other means. Private equity firms typically hire investment bankers with experience in a wide range of tasks.
- Real estate firms. Real estate firms work with real property: land and buildings. They develop new real estate projects or purchase existing projects and attempt to turn a profit, often by using similar techniques to those used by private equity firms. Financing specialists, analysts, and deal managers are often key positions in real estate firms. The same firm may work in both real estate and private equity, and in fact many firms invest in both fields.
- “Real money” firms. Investors who specialize in “real money” typically work with pension funds, sovereign wealth funds, or insurance companies to generate returns over time. Investment analysts, portfolio managers, and traders commonly work with real money.
The experienced recruiters at Daley and Associates have the expertise and professional relationships we need to help you find a great position within the financial industry. If you are looking for executive recruiters in Boston, contact us today to learn more.