Jobs and Careers Spring 2020 - 61

FINANCE

Management accountant
As well as looking after a company's accounts, management accountants
advise on the financial implications of business decisions, and prepare
reports, budgets, commentaries and financial statements. Similar roles
are available in the public and not-for-profit sectors.
What qualifications do I need? Any degree is acceptable when it comes
to applying for such roles, although qualifications in accountancy or
mathematical, management or business subjects are useful. Professional
accountancy bodies you can train with include the Chartered Institute of
Management Accounting.
How much can I earn? Salaries for graduates start around £25,000.
Salaries can increase substantially after you pass the relevant professional
examinations. An average basic salary of over £33,600 is usual for someone
studying for a professional qualification with CIMA, and CIMA-qualified
professionals earn on average just over £64,000 including bonuses.

The future of finance

Thinking about starting out in financial services? Here's
what you need to know about the state of the industry
Many experts are optimistic
that leaving the EU could create
opportunities for the UK's financial
services. The sector is attempting
to attract a new generation into
the fold, increasing wages and
offering more benefits. Many
financial services firms are also
offering in-work training.
With uncertainty over the
future of the UK's relationship
with the EU, there are some fears
about job stability. We have
already seen Bank of America,
UBS, Barclays and HSBC moving
operations, staff and assets out

of the UK. The Independent
reported that City financial firms
had committed to moving around
7,000 jobs from the UK to the
EU - but with over a million
people employed in finance
here, there are still opportunities
and rewards on offer.
Some firms are increasing
wages to retain staff, and experts
expect this trend to continue as
companies offer more attractive
employee benefits like flexible
hours and health insurance.
Many financial services firms are
also offering in-work training.

"The best lessons
are those learned
on the job"
Marina Leacock
is a director and
portfolio manager/
research analyst
for Lazard Asset
Management
"I studied civil engineering at university,
so I had limited academic financial
training before I joined the City in 2001.
I wanted to work for a global firm where
research was at the core of investing, and
I was fascinated by the opportunity to
understand and invest in the best global
businesses so I joined Lazard in 2004.
"During my 16 years here I've had
a mix of formal and informal training,
ranging from banking exams to media
training and negotiating skills as well
as behavioural psychology. The best
lessons have been learned on the job.
"As research analysts, we make long-term
investment decisions by analysing industry
drivers globally. It is intellectually stimulating,
allowing us to have a global perspective and
an in-depth understanding of many different
industries. No two days are the same and
there are often market movements that can
be unexpected. Assessing the impact of
Covid-19 on different business models has been
challenging. However, this is where it's also
exciting, providing opportunities to instil our
strong Environmental, Social and Governance
framework and invest in sustainable business
models that may be at depressed valuations.
"My role has recently evolved as the
company has launched the Lazard Minerva
Gender Diversity Strategy, which invests
in companies that empower women
within their organisations. I have enjoyed
impressing on companies the importance
of gender diversity to us as investors
but also to society as a whole."

Find out more
* Association of Chartered Certified
Accountants accaglobal.com/uk
* Chartered Institute of Management
Accounting cimaglobal.com
* Financial Conduct Authority fca.org.uk
* Pensions Management Institute
pensions-pmi.org.uk

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http://www.accaglobal.com/uk http://www.cimaglobal.com http://fca.org.uk http://pensions-pmi.org.uk
Jobs and Careers Spring 2020

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