CHARTERED FINANCIAL ECONOMISTS

A financial economist compiles information while analyzing businesses and financial environments to explain various economic phenomena and predict trends within the market. Daily duties can consist of writing reports for testimony, developing recommendations or plans to solve identified economic issues, and providing advice to businesses and public or private agencies. An entry-level job as a financial economist often includes economic or statistical data collection. Qualifications require knowledge of advanced mathematics, specifically statistics, including econometric methods and sampling techniques. A career working as a financial economist can lead to a position assisting an administration in responding effectively to economic success or crises. Having a financial background can help you establish a successful career in this field.

Employment opportunities for professionals in financial economics are very good. Whether you are looking to work as an economist, portfolio manager, risk management consultant, or financial analyst, this course will expose you to quantitative techniques that are highly useful in the financial industry.

The high reputation of Chartered Economist Association, and especially its Financial economics division having rich historical traditions, will serve as an excellent recommendation for job applicants. 

The high-quality training obtained within the Chartered Financial Economics course will facilitate your future career.

Top Career Paths: Financial Economics 

Here are some of the top career paths for financial economists:

• Asset Management.
• Budget Analysts.
• Commercial Banking.
• Corporate Financial Management.
• Financial Analysts.
• Financial Engineering.
• Investment Banking.
• Investment or Portfolio Management.

Investment banking

Investment banking is a high pressure, high reward sort of job. It requires quick thinking, the ability to remain calm under pressure, and the ability to predict outcomes of complex systems. If this sounds appealing to you, then you could be suited to investment banking work. Such jobs are generally available in the financial centers of big cities like London or Frankfurt and tend to be in organizations which are quite formal and rigid in their structures – for example, you'd be expected to wear a suit, and there can be a rather competitive attitude between employees. It is also typical to work long hours and sometimes on the weekends. Some people will find this atmosphere stressful and off-putting, but people who thrive in a fast-paced environment may find it highly stimulating. You could look for work at an investment bank such as J.P. Morgan, Goldman Sachs, or Citigroup.

 Commercial banking

In contrast to an investment bank, which generally provides services for the financial needs of large corporations, commercial banking is the sector which provides financial services such as deposits, loans, and basic investments for corporations or individuals. Possible jobs in commercial banking cover a wide range of specialties, such as relationship management, strategy, business development, and businesses analysis. These roles require strong people skills and the ability to manage employees or customers, so they are suited to people who know how to motivate others. You could find a role in commercial banking at a company such as HSBC, Merill Lynch, or Bank of America.

Financial management

Financial management refers to the planning, monitoring, and controlling of an organization's monetary resources. Many organizations require financial management, from big businesses to small non-profits. As a job, it requires the ability to plan ahead and to stay on top of the many incoming and outgoing streams of revenue, meaning that it is suited to people who are highly organized and who can keep track of many things at once. Financial managers generally work with other high-level managers, but not necessarily with other economists or money people. So if you want to work as a financial manager in a smaller organization, you'll need to be able to communicate clearly with non-experts who may not have much knowledge or experience in financial matters.

You could be employed as a financial manager at a charity like Oxfam, at a manufacturing company such as Kraft Heinz Company, or even for a governmental organization such as Britain's National Health Service.

 Asset Management

Asset management is a growing field which is potentially very lucrative. It is the making of investments on behalf of an individual or a company, in order to increase their total assets over time. Working in asset management requires you to make smart investments on behalf of your clients, and so built up their funds without risking too much. As well as the extensive knowledge of finance which you should gain from your financial economics degree, to be an asset manager you will also need strong quantitative skills as you will be digging through a large amount of data and possibly doing tasks like modelling which require statistical knowledge. As it is essentially a job proving a service, you will also need to be communicative and capable of managing clients and your staff. This work is suited to someone with a good head for numbers and a reasonable approach to risk, who isn't scared of moving around large amounts of money. You could find a job in a specialized asset management firm like Optimum or Talanx, or at a general financial services firm like J.P. Morgan.

Commercial Banking and Management of Financial Institutions 

Historically, the primary focus of a commercial bank in deposit-taking and loan-making. Commercial banks generally accept the deposits of individuals (such as in a savings or checking account) and lend the money to others, in the forms of mortgages, business loans, etc while the commercial bank makes a profit by charging a higher interest rate to its lenders than it gives to depositors; it is also accepting the risk if a lender defaults. Commercial Banking: Salaries Banking is not known for high salaries (it's a margin business which puts downward pressure on pay)

A good portfolio manager can get hired at a bank with a salary in excess of $500,000. Chief financial officers at money center banks can command $300,000 to $500,000 with a hefty bonus added in chief technology officers only make slightly less. 

Corporate Financial Management 

The application of financial principles within a corporation to create and maintain value through decision-making and proper resource management. The act or practice of developing strategies and plans and making investment decisions that positively affect the operations of a corporation Corporate financial management involves setting goals, planning how to achieve them, and perhaps must importantly decide the best way to pay for them. It deals with managing the working capital of the company. It includes issues such as cash management, inventory management, debtor's management and short term financing. Careers in corporate financial management 

i. Treasurer: As manager of a corporate treasury department, you are responsible for capital raising, financial planning, cash and asset management. Impeccable analytical abilities as well as management and motivation skills are essential in the upper level administrative position. 

ii. Financial Analyst: Responsibilities consist of analyzing budget projects, establishing financing needs, long-term financial planning, considering asset acquisition and disbursement, developing budgets, evaluating competitors, representing a firm before credit agencies, managing a firm's investments, considering lease agreements, and establishing derivative strategies. Analysts generally specialize in one area like planning, budgeting, revenue or project finance. Analysts should be comfortable behind a computer and should understand the financial big picture.

iii. Credit Manager: Responsibilities consist of establishing rules for credit collection as well as for the securitization of receivables. Credit managers must be able to analyze accounting data and they must know a lot about their customers.

iv. Cash Manager: Responsibilities are managing short-term credit needs, guarantying the availability of adequate funds to accomplish day-to-day business, creating good relationships with banks, reserving excess cash in interest bearing accounts, and handling fund transfers locally and globally. Cash managers must have excellent negotiation skills and impeccable attention to detail.

v. Benefits Officer: This human resource position is responsible for establishing employee 401 (K) investment accounts, monitoring pension funds, and establishing cost-efficient healthcare and other employee benefits. Benefits officers must combine financial understanding, human resource management skills, and knowledge of organizational behavior to be successful. 

vi. Real Estate Officer: Among the duties of a corporate real estate officer is to locate real estate for companies, negotiate leasing and purchasing, and appraise and acquire properties. Officers must understand real estate and finance as well.

vii. Investor Relations Officer: Responsibilities include publishing corporate financial information and events through press releases, coordinating with investors, replying to investor inquiries, and setting up investor teleconferences and meetings. This upper level position puts you in close contact with top management officials and demands you understand both finance as well as public relations. Often investor relations officers have prior advertising or public relations experience. 

viii. controller: Responsibilities including accounting, cost analysis, and financial planning and reporting. in addition, work will center on derivatives, lease and joint interest accounts, property, revenue and benefits. Duties sometimes include creating and using multifaceted costing systems, as well as financial re engineering, author coordination and transfer pricing issues. Controllers usually work for one of the few national accounting firms and must have lots of experience in the field.

ix. Asset Management / Money Management / Investment Management.  An Asset Management Company (AMC) is an investment management firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the investment company provides more diversification, liquidity, and professional management consulting service than is normally available to individual investors. The diversification of portfolio is done by investing in such securities which are inversely correlated to each other. They collect money from investors by way of floating various mutual fund schemes. Examples of Asset Management Companies are the following: AIG Investment, Prudential Financial, Barclays Global Investors, Fidelity Investments, First Republic Bank, Barclays Offshore Banking (Ghana), Medu Capital (South Africa). 

Compensation in Asset Management

Salaries in money management or asset management are likely to be mainly a result of performance. Starting analyst positions for undergraduates at leading mutual funds, pension funds, and bank trust departures have salaries in the neighborhood of $60,000 to $80,000.

In the world of equity portfolio managers, there is high dispersion of pay. A job at a state pension fund or a bank trust department will pay in the $90,000 to $180,000 range.

x. Private Equity

Equity capital that is not quoted on a public exchange; Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity. Capital for private equity is raised from retail and institutional investors, and can be used to fund new technologies, expand working capital within an owned company, make acquisitions, or to strengthen a balance sheet. Examples are: Fidelity Capital Partners, Accra; Data bank; Hamilton Lane, USA

Investment Banking 

An investment bank is a financial institution that assists corporations and governments to raise capital by underwriting and acting as the agent in the issuance of securities. An investment bank also assists companies involved in mergers and acquisitions and derivatives and provides ancillary services such as market making and the trading of derivatives, fixed income instruments, foreign exchange, commodity, and equity securities. Unlike commercial banks and retail banks, investment banks do not take deposits. There are two (2) main lines of business in investment banking. Trading securities for cash or for other securities (i.e. facilitating transactions, market-making), or the promotion of securities (i.e. underwriting, research etc) is the “sell side” while dealing with pension funds, mutual funds, hedge funds and the investing public (who consume the products and services of the sell-side in order to maximize their return on investment) constitutes the “buy-side”

Examples, HFC Bank (Ghana) Limited, HFC Investment Services Limited.

Investment banks perform the following major functions for their customers:

a. Serve as trading intermediaries for clients

b. Lend and invest banks' assets

c. Provide advice on mergers, acquisitions, and other financial transactions

d. Research and develop opinions on securities, markets, and economics

e. Issue, buy, sell and trade stocks and bonds

f. Manage investment portfolios.

Financial Economist Salary Range

The median annual salary of a financial economist is about $99,000. The salary of a financial economist generally depends upon the field the economist is working in.
...
Salary Prospect of Financial Economist.

As of Oct 14, 2020, the average annual pay for a Chartered Financial Economist in Philadelphia, PA is $72,899 a year.

While Zip Recruiter is seeing annual salaries as high as $130,680 and as low as $31,922, the majority of Chartered Financial Economist salaries currently range between $51,872 (25th percentile) to $87,784 (75th percentile) in Philadelphia, PA. The average pay range for a Chartered Financial Economist varies modestly (up to $35,912), which suggests there may be fewer opportunities for advancement based on skill level, but increased pay based on location and years of experience is still possible.

Based on recent job postings on Zip Recruiter, the Chartered Financial Economist job market in both Philadelphia, PA and the surrounding area is very active. 

To estimate the most accurate annual salary range for Chartered Financial Economist jobs, Zip Recruiter continuously scans its database of millions of active jobs published locally throughout America and the rest of the World.

As of Oct 8, 2020, the average annual pay for a Financial Economist in the United States is $93,267 a year.

While Zip Recruiter is seeing annual salaries as high as $152,500 and as low as $26,000, the majority of Financial Economist salaries currently range between $48,000 (25th percentile) to $131,000 (75th percentile) across the United States. The average pay range for a Financial Economist varies modestly (up to $83,000), which suggests there may be fewer opportunities for advancement based on skill level, but increased pay based on location and years of experience is still possible.

Based on recent job postings on Zip Recruiter, the Financial Economist job market in both Accra, GH and the surrounding area is very active. People working as a Financial Economist in your area are making on average $93,267 per year or the same as the national average annual salary of $93,267. ranks number 1 out of 50 states nationwide for Financial Economist salaries.

To estimate the most accurate annual salary range for Financial Economist jobs, Zip Recruiter continuously scans its database of millions of active jobs published locally throughout America.

Find your next high paying job as a Financial Economist on Zip Recruiter today.

Financial Economist in Washington, DC

Develop, or provide guidance to the development of computer applications that perform or produce various pricing, capital requirements, risk management or hedging analyses. 

Demonstrates analytical and research skills as well as the ability to conceptualize more complex issues and develop complex processes, procedures or solutions. 

How much does a Financial Economist make in the United States? The average Financial Economist salary in the United States is $106,935 as of September 25, 2020, but the salary range typically falls between $97,009 and $118,317. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.