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Finance
Finance
teaches the techniques that managers use to make and
evaluate all types of organizational decisions.
Majors in Finance take introductory course
work in business finance, investments, insurance,
and real estate; students then have the flexibility
to choose electives from any of the above areas.
Majors often enter careers in real estate, insurance,
banking, corporate finance, financial services, or
general management positions. In
addition to careers in corporate finance, investments,
and banking, this major allows students to prepare
for a wide range of organizational activities.
The
Finance student is also able to prepare for a specialized
job in the rapidly growing financial services industry:
insurance, real estate, brokerage, financial planning,
and portfolio management.
To
achieve these goals the student chooses one of two
concentrations: Financial Analysis or Financial Services.
Current articles on Finance careers are listed below
following Economics.
(Current
Catalog Curricula*)
| (Financial
Analysis Curriculm Sheet*)
| (Financial
Services Curriculum Sheet*)| (Finance and Accounting Curriculum Sheet)
Financial
Analysis
The
Financial Analysis concentration has a greater emphasis
upon quantitative skills and helps students to prepare
for careers in areas such as securities analysis, financial
research, banking, corporate finance and in addition
provides a solid background for further studies at the
graduate level. Required courses include:
Intermediate Accounting (ACCT 309)
Aggregate Economic Analysis (ECON 301)
Intermediate Economics (ECON 302)
Money and Banking (ECON 310)
Investments (FIN 400)
Advanced Business Finance (FIN 410) and
International Finance (FIN 440)
as well as three 300 or 400 level finance electives.
Students
interested in banking, corporate finance, investment
analysis, or other traditional finance careers should
consult Dr.
Hsieh or Dr.
Vines regarding the three finance electives.
Students interested in Real Estate should consult
Dr. Bible
concerning the three electives. Students
interested in Insurance should contact Dr.
Rubin regarding the electives.
Financial
Services
Financial
Services is designed to introduce the student to financial
planning, insurance sales and underwriting, commercial
and residential real estate sales and development, real
estate lending, real estate appraisal, and real estate
counseling. Required courses include:
Money
and Banking (ECON 310)
Risk and Insurance (FIN 320)
Introduction to Investments (FIN 331)
Principles of Real Estate (FIN 340).
Students should select electives based on their interests.
Students interested in Insurance should take:
Property & Casualty Insurance (FIN 322)
Life and Health Insurance (FIN 326) and
Personal Sales (MKT 330).
Students
interested in Real Estate should complete:
Real Estate Appraisal (FIN 442)
Real Estate Finance and Investments (FIN 450) and
Geographic Information Systems (GEOG 420).
Students interested in real estate sales or brokerage should consult the Louisiana Real Estate Commission for further information on education requirements.
For additional information on real estate appraisal certification requirements please contact the Louisiana Appraisal Board.
General
Business Administration
Many
students in the College choose General Business Administration
as a major because it provides the maximum flexibility
to acquire knowledge from all fields of business, including
accounting, business law, management and marketing. Many
of these majors are preparing for multipurpose management
roles in small organizations or as entrepreneurs. Course
scheduling provides the opportunity to complete all requirements
in evening.
(Current
Catalog Curricula*)
| (GBA
Curriculm Sheet 2006-07*)
Economics
The student interested in an Economics minor
should complete ECON 201 and ECON 202 plus 15 additional
hours of economics or other courses approved by the
department chair at the junior or senior level.
Current
Career Articles
Start
a Diverse Career in Property Management
By
Hillary Jeffries, Advertorial Writer
The
Times - Careerbuilder
11/9/03
Property
and community association managers often act as the
middleman between a building's tenants and the owner
and investor. They handle the day to day operations
of a community or complex and may handle disputes
between tenants or homeowners as well as the financial
responsibilities.
Property
managers can work for apartment complexes, shopping
centers and office buildings. Community association
managers may work for new home developments and manage
community owned properties and services.
Property
managers work out contracts for maintenance, trash
removal, groundskeeping and other services. They
resolve tenant complaints, schedule needed repairs
and order equipment for property. Those that work
at apartment complexes may also show the property
to prospective tenants, write up rental contracts
and handle late payments. On-site managers are sometimes
required to live on the premises in order to be on
call 24 hours a day if needed. Many on-site managers
spend a majority of their time on the property and
may use golf carts or other vehicles to travel the
property quickly.
Community
association managers do not handle rental payments
or insurance typically because homeowners usually
cover that for themselves. However, they may manage
the pool and clubhouse areas as well as enforce neighborhood
regulations. They often work for a volunteer board
of directors and help them adhere to association and
governmental regulations.
Skills
Property
managers need to have good writing and communications
skills. They should also have solid financial and
math skills in order to handle payments, receipts,
taxes and profit spreadsheets. An ability to analyze
data can come in handy and creativity and resourcefulness
may be necessary to handle angry tenants or solve
unexpected problems.
Education
Many property
management firms prefer to hire college graduates
with degrees in management, business administration,
finance or real estate. However, several accept
liberal arts degrees or degrees in related subjects.
Most new
hires begin working under a property manager as either
an assistant or other support role. As their experience
widens, they may move into management roles, or begin
to work with more or larger properties.
Those with
a background in real estate may have a heads up when
applying for positions with apartment complexes, as
they usually have experience showing properties.
People with
building maintenance experience may also be a step
ahead since they already have knowledge about a building's
mechanical systems. Managers may attend workshops
and seminars put on by professional management organizations,
and may earn certifications or professional designations
by the sponsoring organization.
Those who
work for public housing subsidized by the Federal
Government are required to be certified.
Job
Outlook
According
to the Bureau of Labor Statistics (BLS), job opportunities
for property and community association managers are
expected to grow faster than the average of all occupations
through 2010. This is due to the increasing population
and increasing number of apartment and office complexes.
Also, the growing elderly population is expected
to result in an increase in retirement and assisted
living facilities which will also require more property
managers. Many new home developments are also incorporating
community associations which utilize professional
management services as well.
The median
annual earnings of a community association or property
manager was $36,020 in 2000 according to the BLS.
To learn
more about a career as a property or community association
manager, check out these websites:
Institute
of Real Estate Management
Building
Owners and Managers Institute
Community
Associations Institute
National
Board of Certification for Community Association Managers
Employment
in Financial Sector
Despite
Rough Economic Times, Employment to Increase in Financial
Sector , "The Times",
August 2003, Shreveport , Louisiana by
Hillary Jeffries, Advertorial Writer
Although
many investors have been discouraged regarding the
stock market recently, employment within the industry
is expected to remain high.
Securities
and commodities sales agents, also known as stockbrokers,
account executives, registered representatives and
financial consultants all play essential roles in
helping investors purchase and sell stocks, bonds,
shares in mutual funds and other financial products.
They counsel and provide advice to investors regarding
their financial decisions to help them get the most
out of their investments. They may also develop
financial portfolios for clients which include a total
financial plan for all their investments.
Commodities
and sales agents might also communicate directly with
floor brokers, who negotiate trades on the New York
Stock Exchange floor, or they may work with dealers
on negotiating selling and buying over-the-counter
stocks and bonds.
As
the financial services industry becomes more deregulated,
the responsibilities of commodity and securities sales
agents are expanding to include more financial services
such as estate planning and advice on other financial
concerns.
Securities
and commodities sales agents can work for commodities
brokers, exchanges and investment companies, banks,
credit unions and other financial institutions.
Skills
Many
employers look for candidates with an out-going personality
and strong sales skills. High ethical standards
and good communication skills are important as well.
Job seekers need to be motivated and be able to
work independently. Self confidence and maturity
also play key roles.
Education
Most
employees in the securities industry are college graduates.
Although most firms do not require specialized academic
training, a degree in business administration, finance
or economics is recommended.
All
securities and commodities sales agents are required
to be licensed in the state in which they work.
This usually involves passing a written examination.
All agents must also register with the National
Association of Securities Dealers (NASD) as representatives
of their firm. In order to do so they must be employed
by their firm for at least four months and then pass
the General Securities Registered Representative Examination
(Series 7 exam), administered by the NASD. Some
states also require that agents pass the Uniform Securities
Agents State Law Examination as well.
Many
securities and commodities sales agents take correspondence
courses and other study courses before passing these
exams. Exams cover everything from basic securities
information to client protection requirements and
other procedures.
Job
Outlook
Despite
the poor economy and declining stock market recently,
job opportunities are still expected to grow faster
than the average for all occupations through the next
seven years, according to the Bureau of Labor Statistics.
This is attributed to higher salaries, and people
continually seeking better returns on their investments.
The majority of investors do seek financial advice
from professionals and securities and commodities
agents will be needed to complete several of these
transactions. Increases in employment are also linked
to the Baby Boomer generation reaching retirement
age and the increased globalization of the stock market.
As more investors start dealing with foreign markets,
more agents will be needed.
Employment
of brokers is still susceptible to downturns in the
stock market. Positions as brokers are usually more
competitive and harder to keep. According to the
Bureau of Labor Statistics, the median annual earnings
of securities, commodities, and financial services
sales agents were $56,080 in 2000.
To
find our more information about a career in the securities
industry, check out these websites:
Securities
Industry Association
Securities
and Exchange Commission
National
Association of Securities Dealers
Loan
Officers Teach, Guide and Support Their Clients
Careerbuilder,
"The Shreveport Times",
October 12, 2003, Shreveport , Louisiana, by Hillary
Jeffries, Advertorial Writer
At some
point in life we are all going to come across a loan
officer, whether for a home, college education or
a new car. One day we're all going to need a whole
lot of money that we just don't have. They match
customers up with lenders and find the ideal loan
program for each individual.
Loan officers
often specialize in a particular type of loan, either
commercial, mortgage or consumer. Commercial loans
are used by businesses to purchase new equipment or
expand their business. Consumer loans are for individuals
seeking home equity, automobile and personal loans.
Mortgage loans are for those buying a new home or
wanting to refinance their existing home.
Loan officers
have a variety of responsibilities throughout the
loan process. At first they must find clients.
If they are a commercial loan officer they may call
on businesses to ask about their loan needs and inform
them about their loan options. Mortgage loan officers
often work hard to create strong professional relationships
with real estate agents, so when a realtor sells a
home, they recommend a loan officer to their client.
After finding
a client the loan officer spends some time explaining
the loan process and the loan programs available to
them. They also investigate the client's personal
information including credit history to see if they
can be approved for a loan. The process of checking
a client's credit history has become increasingly
quicker and easier with the use of computer software.
Software can now do the majority of analyzing for
the loan officer and comes up with a credit score
for the client. After considering the score and
other financial information, the loan officer discusses
the client with their manager and they decide whether
to grant the loan. Once a loan has been granted,
the loan officer develops a repayment schedule for
the client.
Loan counselors
work with clients who are having problems repaying
their loans and help them develop a system to get
back on track.
Loan officers
and counselors can work for banks, credit unions,
and mortgage banking and brokerage firms.
Skills
Loan officers
and counselors need to be good with numbers and have
a solid grasp of mathematics. They also need to have
excellent interpersonal communication skills and be
able to work with a diverse array of clients.
Education
Positions
as loan officers and counselors usually require a
bachelor's degree in finance, economics or a related
field. This isn't always required though. Some
loan officers have worked their way up through a business
as a teller or customer service representative.
Several
banking institutions and private schools offer classes
in lending for those interested in pursuing the profession,
or for those already in the industry who want to continue
their education.
Job
Outlook
Job opportunities
for loan officers are expected to grow slower than
the average occupation over the next several years
according to the Bureau of Labor Statistics. This
is attributed to the growing number of online mortgage
brokerage companies that are making loan programs
more accessible and takes out the need for the middle
man. However, employment for loan counselors is
expected to remain steady as the rules for filing
bankruptcy tighten by requiring more people to obtain
loan counseling before they can file.
Also the
use of credit scoring and other automated tasks have
allowed loan officers to handle more loans at one
time, decreasing the number of officers needed at
any given time.
Loan officer
employment is very dependent on the economy. When
the economy is good and interest rates are low, more
people will buy homes creating a larger demand for
loan officers. But when the economy is suffering
and the real estate industry becomes more stagnant,
several loan officers can find their earnings may
become lower or they may be laid off. Most loan
officers earn a commission on the loans that they
place based on the loan's value.
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