red to attend meetings of financial and economic associations and may travel to visit subsidiary firms or meet customers. Employment [About this section] Top Financial managers held about 693,000 jobs in 1998. Although these managers are found in virtually every industry, more than a third were employed by services industries, including business, health, social, and management services. Nearly 3 out of 10 were employed by financial institutions, such as banks, savings institutions, finance companies, credit unions, insurance companies, securities dealers, and real estate firms. Training, Other Qualifications, and Advancement [About this section] Top A bachelor’s degree in finance, accounting, economics, or business administration is the minimum academic preparation for financial managers. However, many employers increasingly seek graduates with a master’s degree, preferably in business administration, economics, finance, or risk management. These academic programs develop analytical skills and provide knowledge of the latest financial analysis methods and technology. Experience may be more important than formal education for some financial manager positions—notably branch managers in banks. Banks typically fill branch manager positions by promoting experienced loan officers and other professionals who excel at their jobs. Other financial managers may enter the profession through formal management trainee programs offered by the company. Continuing education is vital for financial managers, reflecting the growing complexity of global trade, shifting Federal and State laws and regulations, and a proliferation of new, complex financial instruments. Firms often provide opportunities for workers to broaden their knowledge and skills by encouraging employees to take graduate courses at colleges and universities or attending conferences related to their specialty. Financial management, banking, and credit union ass...
