Finance Major Toolkit
Investment Management is a career where you are selecting investments to put into a portfolio. Investments can include stocks, bonds, real estate, commodities and other assets.
The structure of the investment can also vary. It can be in a mutual fund, an institutional account, an Exchange traded fund, or even a hedge fund.
Regardless of what type of investment asset class or the type of investment vehicle, understanding the valuations of markets and individual investments is paramount. So what is an investment worth and am I paying too much for it given the risk.
Skills you need: Intellectual curiosity, modeling skills, ability to make decisions with incomplete information and an ability to communicate your ideas.
Pluses of this career:
- You get paid to learn – the more you know, the better you can be – intellectual curiosity is necessary
- Depending on the firm, there is an opportunity for work/life balance
- For those that like to work individually, this is probably less team-oriented
Minuses
- Fair amount of pressure to do well
- If you can’t make decisions with incomplete information, it can be frustrating
- Markets can create stress.
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CFA Guide for Future Investment ProfessionalsThe CFA Institute recognizes that employees and employers will change dramatically in the upcoming years with the advent of AI, as well as the evolution of workplace environments. The CFA Institue has the information you need to prepare yourself for a future in this field.
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CFA Institute Career GuideLearn more about what it take to be in this field as well as many profiles. Tips at the back.
All Finance Majors need to take 3 Finance electives.The best fit for this career:
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FIN:4250 Applied Equity ValuationIn this course you will actually be managing a portfolio and will develop strong modeling skills to select stocks for the portfolio
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FIN:4220 Fixed Income SecuritiesThis course will cover a variety of fixed income investments analysis and valuation.
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FIN:4210 Futures and OptionsUse of options, futures, and other derivative securities in financial management; understanding types of derivative securities, markets, trading technology; applications of risk management and speculation; pricing relations with underlying securities.
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FIN:4230 Real Estate ProcessFundamentals of real estate finance and investments; economic base analysis, asset analysis, market analysis, mortgage markets, underwriting, alternative mortgages, mortgage-backed securities, real estate securitization, land development, valuation principles, investment analysis, tax consideration, portfolio management.
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FIN:4330 Investment BankingHow investment banks fill critical roles in maintaining well-functioning financial markets and provide access to capital and strategic advice to companies and governments; recent global financial crisis; how banker's role as intermediary between companies and markets adds value and creates conflicts and risk.
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CFA Content covered in classesIf you are thinking about taking the CFA exam, here is a file that shows you what courses cover specific content found in the CFA study materials
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Principal Global InvestorsPrincipal Global Investors is the investment division of the Principal Financial Group. Although they are headquartered in Des Moines, their investment activities are found around the globe.
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Wells FargoWells Fargo has options in many areas of the bank, including the commercial banking, mortgage and personal banking areas.
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Edward Jones HQ InternshipThese internships relate to the investment side and support of financial services
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VanguardVanguard has a leadership rotation for their investment roles.
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PGIM InvestmentsWant investments out East? Prudential Global Investment Management has an excellent internship and full-time program.
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PIMCOPIMCO is a leading bond investment house that touches many asset classes and has offices around the country.
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AEGONAEGON is the Asset Management division of Transamerica. They have position in their Cedar Rapids business.
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Cambridge Investment ResearchA chance to learn about investment operations in a Fairfield Iowa internship.
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InvescoThey have operations and investment postiions.
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Alliance BernsteinYou take a value shop - Bernstein, and merge it with a growth shop - Alliance - and you have many career opportunities.
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American Century InvestmentsThe biggest investment firm in Kansas City metro
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BairdBaird is another regional firm with Iowa ties.
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Fisher InvestmentsFull time entry level positions
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Lincoln Financial GroupThis company has roles in a variety of categories, as well as internships
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Financial Management AssociationJoining this group on campus will help you network and learn more about the field and where you might fit.
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HawktradeJoin this group for a conversation about markets and research.
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InvestHerInvestHer is a community of students committed to building knowledge and networks in finance, exploring careers, developing leadership, and investing in women. Encouraging women to interact with finance, InvestHer provides opportunities for workshops, discussions of financial topics, and hearing speakers who can help members navigate the large field of finance and their options within it.
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CME CoursesThe CME Group (the former Chicago Mercantile Exchange) has a great library of courses to take that can go on a resume and maybe help get a job.
Become a student member of a CFA Society
As a student member of a CFA Society, you have access to content, events and job boards. This is an excellent way to network with professionals in the field and learn from them directly.
The links below are to student membership information from some of our Midwest Societies.
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CFA Society of IowaThe Iowa Society is $50 for a student membership, and you need a faculty to sponsor. Catherine Zaharis, Todd Houge or Todd Nelson can be a sponsor.
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CFA Society of ChicagoSTUDENT MEMBER APPLICATION PROCESS To be accepted for membership, an applicant is required to (i) submit the Student Membership Application, which must be signed by a Professor of finance, business or economics at the college/university at which the student is enrolled or by a CFA Chicago Charterholder member, (ii) prepare and submit a typewritten, original 200-500 word essay on the importance of ethics in the conduct of business in the global economy, (iii) enclose a copy of the applicant’s current class schedule or unofficial transcript, (iv) enclose $60 membership dues, payable by check (made out to CFA Society Chicago), money order, or credit card, and (v) agree to be bound by CFA Society Chicago’s Code of Ethics.
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Bloomberg Markets Concepts CertificationBloomberg Markets Concepts- 4 modules that cover stocks, fixed income, commodities and economic data. It also teaches you how to work with the Bloomberg terminal, one of the most commonly used in the field. And it finishes with a section on portfolio management. Free on U of Iowa Bloomberg terminals with your HawkID
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CME CoursesThe CME Group (the former Chicago Mercantile Exchange) has a great library of courses to take that can go on a resume and maybe help get a job.
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CFA ExamsThe CFA Exam is the Gold Standard of the Investment Community. Although you can't take this until your final year of school, studying for this would be helpful in securing a position. However, it takes a lot of studying, so don't commit the Finances unless you are dedicated to preparation. It is usually not more than a 50% pass rate!
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CFA Scholarship ApplicationThe CFA exams have changed! Level I is online and offered four times per year. And we have scholarships that are available. Read more about them here.
For those of you who don't know, Carl Schweser was a member of the Tippie faculty who created what is now known as the Kaplan Schweser study materials for the CFA Exam. Some of the resources are free, and these links are courtesy of the Iowa CFA Society.
Free Kaplan Schweser Study Materials
Kaplan Schweser also offers free resources to those interested in earning the CFA charter, including:
Free Question of the Day - Sign up to receive a level-specific CFA practice question delivered directly to your inbox each day!
Free eBook: Before You Decide to Sit for the CFA Exam - Get advice from CFA charterholders who have successfully gone through the program. Learn what it takes to earn the charter and ultimately succeed in the investment industry.
Free eBook: CFA® Program Fundamentals - Kaplan Schweser has developed this exclusive eBook for new and aspiring CFA® Program candidates. Review this introduction to the main topic areas of the Level I CFA exam. Each chapter concludes with a sample of multiple-choice questions, complete with answers and explanations.
Schweser’s Monthly Candidate Guide - Schweser is here to help you on the journey to exam day. Each month, our Candidate Guide will offer you our free resources that we think will best enhance your study plan.
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The Intelligent Investor
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ISBN: 0060555661Publication Date: 2006More than one million hardcovers sold Now available for the first time in paperback! The Classic Text Annotated to Update Graham's Timeless Wisdom for Today's Market Conditions The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles. Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. -
Berkshire Hathaway Letters to Shareholders 1965 - 2013
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ISBN: 0615975070Publication Date: 2014-04-27This is a compilation of some of the best Annual Sharehholder's letters ever written. Honest, thorough and easy to read.
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Aswath Damodaran's Web Site - All things financeAswath is a professor at NYU and has a great blog as well as free courses on valuation.
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S&P Credit Ratings GuideThis is critical to understand if you are interested in Fixed Income investments.
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Northern Trust Investment InsightsGet the latest thoughts from the Northern Trust Investment Team.
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Northern Trust - in-depth white papersWhat to dig more into a specific topic? This link might have some interesting information for you.
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The Little Book that Beats the Market by
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Stocks for the Long Run by
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JP Morgan PodcastsJP Morgan Center for Investment Excellence has podcasts on a variety of Investment topics.
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Goldman Sachs InsightsA wealth of information about business and investing from Goldman Sachs.
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Brewin DolphinGreat Podcasts on the Investment landscape from the UK.
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Meb FaberMeb's shares insights about the "craft of investing."