Financial Planning career
Here are some commonly cited hurdles and some possible solution ideas to attract mass top talent:
Problem: “I wasn’t aware of the financial planning major at my school and then when I was, it was too late to change.”
Solution: In an ideal world, students would be aware of the Financial Planning career prior to beginning their college career. Financial Planning programs should have a consistent location and title within educational institutions contrary to the current assortment of programs housed in the business school and others in various other non-business related schools. The Finance and Financial Planning degrees should be grouped together in all promotional materials. Additionally, educate university career advisors about the benefits of the Financial Planning major and who would likely be a good match. As of August 2013, there were 166 undergraduate, graduate and PhD degree programs registered with the CFP Board.1 As of the 2009-2010 school year, there were almost four thousand four– year public and private degree– granting institutions, according to the Institute of Educations Sciences.2 I realize it is unrealistic to expect that a financial planning major be offered at each of these degree granting institutions, but even increasing the current 4% to a simple 51% majority is a big hill to climb. Bear in mind that current practitioners donating to their alma maters – tied to the establishment or support of a Financial Planning program – can go a long way to change the mentality of administrators about the opportunities in offering Financial Planning curriculum!
Problem: “I can get a higher paying job right out of college ”
Solution: National salary data for entry level accountants was $46, 641 as of March 2014.3 Based on the 2013 Investment News Compensation study, the median compensation for a Support Adviser (Level 3) is $50k/yr.4 In our recruiting business, we see the majority of new college graduates entering entry– level advisor positions in the $40-50k range, depending on geographic location. Realize that accounting is only one example, but one that I encounter frequently and, based on this data, financial planning is competitively positioned, at least at the moment.
Problem: “There seems to be a lack of quality career opportunities, and I do not know what my career trajectory looks like, anyway”
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Albany Mayor Dorothy Hubbard weighs her political future — The Albany Herald
##Hubbard did not win the election, and her financial planning career was pushed to the side when her brother's wife was diagnosed with cancer.
Is financial planning a wise career choice?
tomorrow i am registering for bcom financial planning at my university. I'm wondering if it is a wise choice with plenty of career oppertunities, good pay etc..
yes its a good career choice because you could work in many different areas; the pay is good especially with experience