The short term and long term career goals
|✅ Paper Type: Free Essay||✅ Subject: Business|
|✅ Wordcount: 1532 words||✅ Published: 1st Jan 2015|
This report talks about the short term and long term career goals and steps of career strategies used to achieve the career goals. It also specifies the key skills necessary for an employer to work in competitive environment. This report helps to identify my strengths and weakness and a proper Action plan is prepared to grab success in my career. Self-marketing tools like CV, Speculative letter and Internship Application are also enclosed with this report.
Investment Banking :
Investment Bank is a financial institution that assists individual, corporation and governments in raising capital by underwriting and acting as the client’s agent in the issuance of securities.
A career goal involves setting a career pathway and identifying a career strategy with the strengths and skills acquired by the person. An individual’s career goals should be specific and goal setting is a major composite of Personal development. My keen interest and would like to start my career as an Analyst in Investment bank. Career Goal setting could be either short term or long term.
Career goals ought to be SMART:
My short term goal is to procure an Internship program in J P Morgan Investment bank and study the company culture and values and experience the work environment with other employees.
Medium term goals can be achieved only if short term goals are achieved. Medium goals are dependent on the success of short term goals. To become an associate business analyst in J P Morgan, with the strengths and skills attained and learned by me.
My long term goal is to place in a top position in any of the Multi-National Companies and lead the company in a successful and profitable way.
Corporates follow lots of strategies and theories to achieve to achieve their goals & objectives. Likewise, Cameron developed five key strategies to attain success in career life. They are,
1) Know your skills and strengths
2) Contact potential Employer
3) Present yourself professionally
4) Present yourself successfully
To fulfill the long and medium term goals, I would like to follow these career strategies;
- To study and understand the competitive environment appearing in the Industry.
- To promote right ideas and gain good returns for the Investors.
- To work dedicatedly and loyally;
- To blend with the team members.
STRENGTHS AND SKILLS:
Cameron communicated that Identification of skills and strengths are the first step to career success. The below stated points are my strengths and skills I possess;
- It is pretty easy to understand the job nature since I already have an experience in handling the Investment sector.
- Ability to research, evaluate and analyse
- I have maintained a good customer relationship while I was working in HDFC and SELVAM LEATHERS.
- Ability to make right decision and articulate the ideas;
Time management skill:- It is vital for an analyst to complete his assigned project before deadline .For instance, I had an experience of attaining a huge amount target in short period of time, say one month. I was supposed to collect an Investment of 50000INR (Indian Rupees) in one month’s time under Life Insurance and Health Insurance. I was awarded with an certificate of achievement in short span of time.
Team working skill:-An organization success can be achieved only when there is unity among employers of the organization. I was working among a group of three in HDFC as a team leader and I managed to lead the team successfully for a eight months. I had a good experience of handling them and solving the misunderstanding rising among them.
Multi-tasking:-An analyst should be able to handle more than one task simultaneously. I got an hold of multi- tasking by attending seminars, Presentations and to preparing for assignments and debates, etc.
Learning skills:- I am learning new concepts and techniques to calculate rate of returns. And also be aware of the current affairs in the Investment Industry about the latest merger &acquisitions like Groupon, etc.
Motivational skills:- According to Maslow’s Hierarchy of motivational theory ,Lower needs plays an important role in customer needs. I am highly motivated person and I encourage my colleagues to take part in activities conducted in organization and to interact with multi-cultural people to gain confidence.
Example: I motivated my friend to participate in cultural events in college days whilst he won the best music composer award in the college.
Investments banks are basically different from commercial banks and do not have any retail outlets. They generally concentrate on IPOs, equity trading and providing credit to MNC’s and major customers. Global Investment Banking Revenue raised to a record US$84.3 billion which is more than twice the level of 2003.They also act as an advisory council and gives ideas to mergers and acquisitions. Many Investments banks operate themselves by issuing and selling shares and earn additional revenues from this transaction. The IBD assist its customers to increase funds through debt and equity offering. It composites IPOs issuing credit proficiency and selling equities to investors or bonds. The IBD is generally divided into:
- Industry coverage
- Product coverage
First one focuses on Specific industries say retail, Oil, Steel and so on. Product coverage includes equities, financial products, leveraging finance and bonds. The banks also provide advises to M & A which includes researching and evaluating the terms and agreement of the contract.
J.P. Morgan was successful in this field since Investment Banking was invented. Their competitors are
Goldman sachs, Ernest and young .
The sole intention of analyst is to have a conversation with customers and indulge them to offer an Investment. Investment analyst basically assesses the competencies of the organisations or governments that issue IPO’s, bonds, securities, etc. Analysts have to work in groups and present the future predictions and expectations of the companies that need to issue new shares or want to merge or acquire a company in the future. They need to present equity reports to prospective customer’s weather to Invest in this particular company or not. He/she should be having adequate knowledge on spreadsheet and financial ratios to calculate the returns for the money invested. The primary role of analyst is to persuade broad field of securities and commodities. An analyst has to hold frequent meeting with the customer and organization to discuss about the problems rising from the issues, issuing dividends, etc.One should be updated with the financial news and current affairs happening in the Industry everyday through liable resources.
- Identify right choice of Investment.
- Meet Investors.
- Support IPO
- Produce Company reports.
- Estimates rate of return to be gained.
Based on Cameron career strategy and goals I need to develop certain skills in accordance to get an Internship in J.P. Morgan Investment bank. I should be concentrating on the better understanding of the Industry to procure and show good results among the teams in the organization. I have good cognitive and research skills to analyse the data available and to calculate the returns using mathematical formulae. I should also be getting into persons and ask for References using social networking sites like Facebook, LinkedIn, etc.
If I had to get a promotion and to increase the position of the job, I should be having a good relationship among the team members. If the short term goals are achieved successfully Long term goals are easy to attain.A action plan is prepared in order to produce the results
SHORT TERM GOAL:
To GET INTERNSHIP IN J.P.MORGAN COMPANY.
a) Networking through social networking sites and apply online.
b) Understand the Industry and nature of work .
c) Apply for Internship as many as possible
d) Attend meeting and get to know anyone has contacts.
e) Make ready resumes, Business cards.
LONG TERM GOALS:
TO GET PROMOTION AS AN ASSOCIATE.
a) Maintain good relation with the team members and client.
b) Produce high returns for the client.
c) Develop communication skills and analytical skills.
d) Gain Global exposure
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