Careers in Global Finance
Decades of globalization in the business world not only afford companies with much wider markets, but it also presents many career opportunities in global finance. Corporations and banking institutions conducting business worldwide rely on these professionals familiar with international challenges in planning and financing strategies, controlling securities and other investment activities, protecting the company’s financial structure, and preparing the various required financial reports. The following job types seem to be the most prevalent in finance on job hunters’ common websites.
Finance manager is a broad title. This manager is usually responsible for identifying investment opportunities or creating financial strategies. This professional is generally responsible for such duties as financing arrangements for the company, forecasting global market changes plus analyzing their effects, and hedging international transactions against loss.
The average salary for a finance manager is around $112,000. However, this average does not specifically identify international finance managers.
Controller or Financial Controller
The controller is most readily identified as the head of accounting. However, additional controllers may be needed outside of the accounting department to oversee and manage particular areas in larger organizations, such as asset and wealth, corporate treasury, risk management, regulatory compliance, and international financial reporting.
A controller safeguards and tracks the organization’s assets and liabilities, in general, making sure all transactions are properly recorded and reported. He or she oversees and manages the accounting functions, including accounts payable, accounts receivable, and payroll in the accounting cycle. Internal controls are developed and put into place by a controller for prevention of errors, misstatements, and fraud. A controller writes and implements various policies, along with providing financial analysis. And, the controller is responsible for proper financial reporting to senior management, investors, regulatory bodies, and the public, as well as ensuring tax/regulatory compliance.
The average salary for a controller is about $132,000. Again, the average does not specifically identify an average salary for a controller involved in only international activity.
Investment Managers/Securities Traders
Many jobs for global finance professionals focus only on buying and selling the many financial instruments for clients. These positions include hedge fund managers and securities traders.
Hedge fund managers advise, invest, and sell various financial instruments, such as commodities, derivatives, currencies, and securities. These managers are typically overseeing portfolios of wealthy individuals and not companies. A base salary for these managers is around $70,000. In addition, these professionals typically earn bonuses for performance.
Securities traders typically work for firms with clients that include pension funds, insurance companies, and mutual funds. The securities these traders work with include commodities, derivatives, stock, and bonds. Security traders’ salaries are usually a package of bonuses, profit sharing, and commissions. They average about $60,000.
Many opportunities are out there for professionals wanting to work in the global finance field. The demand for global finance professionals varies with the different types of jobs in that sector. Overall, the finance industry is expected to grow in the next few years. The exact percentage of the forecasted growth, however, varies widely.