Career Planning

Introduction

I want to be a professional Financial Market Analyst. I am inspired to pursue this career because my dad is also a retired and successful financial market analyst who was attached to blue-chip financial firms during his heydays. As a financial market analyst, I will be responsible for providing analysis of financial markets, such as analysis of market trends, researching companies, and making recommendations to clients for profitable investment decisions. Upon graduation, I want to be hired by a blue-chip financial company, working for leading banks, investment firms, or insurance companies that provide a wide range of financial analysis services to clients. To achieve this, I must harness my skills in financial analysis, financial management, financial reporting, accounting and bookkeeping, taxation, and management accounting (Broscio & Scherer, 2003). I also have to sharpen my personal skills including communication, problem-solving, leadership and management, critical thinking, and other people skills. The following self-assessment report reflects on my personality, character, and values as crucial aspects of career planning, as they shape the career path that fits into my professional values, aspirations in life, personality, and skills.

Self-Assessment

a)      Professional Values

My professional values are integrity, accountability, autonomy, and competence. I observe high standards of integrity in my practice as a Financial Markets Analyst, as an honest professional, and always showing a consistent and uncompromising adherence to strong moral and ethical principles and values. I ensure that I observe honesty, truthfulness, and accuracy in all my actions and decisions. These values have made me more reliable and trustworthy. I also observe high standards of accountability, which is key to handling and managing financial reports and markets analysis. As an accountable professional, I take responsibility for my actions and conduct at the workplace (Jackson & Tomlinson, 2020). I also exude in autonomy, meaning that I have the capacity to make an informed, uncoerced decision, thus upholding my independence and self-governance. Lastly, I ensure high standards of competence in my work output, showcasing high levels of efficiency and effectiveness in delivering on my tasks and responsibilities.

b)     Interests

I want to work in the finance sector because I enjoy the challenging nature of the industry, and how fast-paced it is. Since I thrive under pressure, I enjoy problem solving, and analysing data, and using the findings to make informed business decisions. I like studying the trends and patterns in market performance and outcomes, which are crucial in making informed investment decisions and economic plans. I find this field very effective in developing my analytical thinking and decision-making skills, plus affording me th opportunity to demonstrate my proficiency in accounting, critical thinking, mathematics, and budgeting (Peng, Lin & Lin, 2017). I also want to be a financial analyst because I am a detail-oriented person with a curious mind, and the career choice will enable me apply my analytical skills in resolving problems.

c)      Personality

According to the results of the Big Five Personality trait scores, I have high levels of emotional stability (93%), high levels of agreeableness (71%), and moderate levels of conscientiousness (57%), intellect/imagination (52%), and extroversion (50%). The results of the test scores are shown in Table 1 below.

Table 1: Big Five Personality Trait Scores

As an extrovert person, I exude positive emotionality, with the tendency of seeking out social interactions and simulation, and exercising high levels of assertiveness and enthusiasm in social situations. As such, I am very outgoing, sociable, and talkative. I have high levels of emotional stability, meaning that I am resilient, even-tempered, and calm when clouded by conflicting emotions. I experience fewer negative emotions and I am in a position to cope with adversity and stress easily, always exhibiting positive emotions like happiness, contentment, and enthusiasm (Dasgupta & Prat, 2004). I am an agreeable person, characterized as being warm, kind, and considerate, with the tendency to cooperate with others, and motivated to maintain harmonious social relationships. I am a conscientious person, characterized as being reliable, hardworking, efficient. I also well-organized, responsible, and motivated to achieve my goals and objectives, guided by a strong sense of perseverance and self-discipline. Lastly, I have high levels of intellect or imagination, equated to openness to experience. This is characterized by being imaginative, curious, and open to new ideas and experiences. Being intellectually curious, I enjoy exploring new concepts and ideas, with a high preference for creativity and aesthetics.

d)     Skills

As a prospective financial analysist, I must harness my skills in technical finance and non-technical behavioral skills. The technical skills that I must have include economic modelling, equity research, merger and acquisitions, credit risk modelling, accounting software skills, GAAP, IFRS, and knowledge of accounting processes and regulations.

Career Path

To become a certified Financial Markets Analyst, I must have the requisite educational background to chart my career path, and shape my professional growth and development. In this regard, I will pursue an undergraduate degree in commerce (Bachelor of Commerce, specializing in Finance and Accounting). I will later upgrade my bachelors’ degree with a masters’ degree (Masters in Business Administration – MBA), also further consolidating my skills, knowledge, and experience in finance and accounting, which will position me appropriate to venture into the field of Financial Market Analyst. The starting career for a Financial Markets Analyst is Investment Banking or Investment Management, whereby upon gaining experience, one can rise to become a portfolio manager, fund managers, and investment analysts. The career is very rewarding in terms of pay, as the median salary for Financial Analysts is $81,760 annually, or $39.31 hourly (Broscio & Scherer, 2003). To practice, I must get licensed by the relevant professional regulatory bodies, in this case, the Financial Industry Regulatory Authority (FINRA). As a Financial Analyst, I will provide guidance to businesses and individuals making investment decisions by assessing the performance of stocks, bonds, and other types of derivatives.

Conclusion

I consider the process of career planning as integral in charting the way forwards to a successful career and profession, as it identifies the career path that an individual follows, evaluates their professional values, interests, personality and skills aligned to the selected or preferred career path, thereby determining the successes or possible failures of engaging in the career choice. I found the entire process of career planning very intriguing as it gave me a clear insight of what my career as a Financial Markets Analyst is likely to manifest, and what I must do, or the path that I must follow to achieve my desired goals and objectives professionally.