Career Report Individual Report: The Research Proposal

• Length: 9 pages
• Subject: Economics
• Type: Research Proposal
• Paper: #17400120
• Related Topics: Career Research, Career Goals, Career Planning, Careers

Excerpt from Research Proposal :

The "Dutch Test for Conflict-Handling," indentified my personality to have medium 'yielding' conflict style. This is consistent with my articulated belief that agreeability when handling conflicts is required, but not to the point that ethics are ignored. My test results on the "Big Five Personality" test thus support the notion that when handling ethical conflicts solving problems on a personal level and achieving a mutually beneficial solution is ideal. The need to do this in the financial industry today is evident in how many banks must renegotiate mortgages -- no one wants a foreclosure, as this benefits neither the home owner or the bank. Rather, resetting an interest rate so the home owner can stay in the homes but still make payments is the best solution, and this requires a compromise on both sides, ideally without a settlement in court.

A think, given what I have learned about the financial industry during this project that I need to work on my communication skills. Although I am proud of my ability to effectively interface with clients in my current job, I have become further cognizant of the verbal delicacy involved in interpersonal problem-solving and negotiating ethical quandaries. Also, the future of the industry will require a high level of transparency on the part of the investment banker and client and a great deal of clear communication and effective personal interactions. I would also like greater knowledge of my own managerial style, as others see it consistent with the idea that "the bigger the open area of the Johari Window is, the better" -- in other words, the better understand how you are perceived by the world, as well as how you see yourself, the more effective a communicator you can become. One deficit of individuals with an extroverted personality style is that of self-knowledge, but I think that performance reviews in the place where I work, and a consistently open attitude towards criticism will help bring to light areas of my psyche as yet unknown and open the Johari Window a bit wider.

Weaknesses:

My "Big Five Personality Test" results suggest that I need to be more flexible to new ideas and less change-resistant, given the creative and ever-shifting financial climate of today. I was pleased to discover that I was rated as having a cool and clear approach to crisis, given that my perfectionism can cause me to feel anxious at times, when I feel that I will fall short in meeting my high standards. Staying calm during highly pressured times is essential during 'crunch time' in the financial field, when a project reaches a critical deadline, and I will strive to keep my anxiety management consistent with the results of the test.

Still interested in pursuing the career?

Despite the current setbacks in the market environment, yes, given the level of my ambition and drive. I would be unsatisfied in an occupation that did not demand a high level of intensity from me, on a daily basis. At the end of every workday, I like to feel as if I have just had a hard mental 'workout' -- I should feel exhausted, but as if I have worked hard and pushed myself to the next level. This is what makes me a good fit for the world of investment banking, and the challenges that face the financial industry in the future that I must grapple with make me more, rather than less inclined to embark upon the career. I think the changing nature of the industry will also give me an opportunity to work on some of my weaknesses, such as my need to be less change-resistant and more creative.

Steps to get into the career:

An MBA is essential for career in investment banking to be promoted to the level of an associate level. I could continue working full-time as an analyst while pursuing my MBA part-time. Eventually obtaining the credentials of a Certified Financial Analyst (CFA) while working as an associate would also be necessary for me to fully keep abreast of developments in the industry and the higher levels of credential requirements for the top jobs at most investment banking firms. Further study while still employed at a firm would enable me to study the theory of the financial industry while practicing what I had learned in a hands-on fashion -- an ideal workplace arrangement for myself. To further expand my exposure to different facets of the industry, I would also hope to able to move to different areas laterally as well as vertically within an organization. In terms of how many firms I will work for over the course of my career, is difficult to say, but job mobility is endemic to the industry.

My ultimate career goal is to become a Chief Executive Officer (CFO) or Chief Financial Officer (CFO) of an investment bank. This will require discipline, a strong locus of control, and high levels of motivation, all of which I believe I can achieve if I hone these qualities of mine through hard work and determination. I will strive to motivate others better, as well as motivate myself, through cultivating better leadership and listening skills. My active listening test indicated I communicate accurately and I hope that my listening skills can be improved upon by asking questions, repeating and rewording what I hear and understand. I also will try to work on communicating in a fashion that makes people 'want' to listen to me, regardless of what I say.

Alternative career:

would hope someday to be able to teach at a business school, as well as obtain my MBA. This will hone my leadership and communication skills. Also, more people are seeking higher-level degrees over the course of their working lives. Many business professionals have enjoyed teaching students through the case study method while still working in the 'real world.'

I am looking forward experiencing more than one career in my life. I am planning to teach part-time at college or university while working fulltime. Apart from enjoy teaching, this is because as a leader, I need understand the demographic changes in the labor market and also I can keep my knowledge and study fresh and up-to-date. Teaching would also enable me to learn more about different field of financial specialization. As mentioned in the group report, in finance workers tend to be generalists or specialists, and while I would see myself more as a manager or generalist, my interest in financial computerized systems and technical skills is something I would like to build upon. Also, working in the technical side of financial operations is another possible career opportunity, if I do not become an investment banker. With my background in computer science, for example, I could analyze information system algorithms and use my background in finance to contextualize the data in terms of a business' needs.