Meet the Expert: Jenny Zhao, a Corporate Financial Analyst
Jenny Zhao is a Corporate Financial Analyst at High Rise Financial LLC in Los Angeles, California, a leading financial institution specializing in pre-settlement legal funding. Jenny has also worked in other financial consulting firms specializing in financial restructuring, mergers and acquisitions, and strategy advisory services. Her extensive mix of passion and expertise in finance lays a perfect backdrop for her to provide a wealth of knowledge to this discussion.
Jenny Zhao – Corporate Financial Analyst
Takeaways from the Interview on How to Establish a Solid Foundation for a Finance Career
Q: Which is the most beneficial educational background for an aspiring finance professional?
Jenny Zhao: “To pursue a career in finance, it’s important to have a strong foundation in economics, accounting, or finance. Most finance professionals start their career journey with a bachelor’s degree in any of these fields. However, pursuing a Master’s in Finance or MBA can provide a cutting edge for advanced roles. Additionally, aspiring professionals should have a good understanding of financial modeling and quantitative analysis.”
Q: What is your take on gaining practical experience in finance?
Jenny Zhao: “Gaining practical experience is invaluable for finance professionals. This experience is available through part-time jobs, internships, or project work during studies. Such ventures provide the real-world experience that the classroom can’t provide. For instance, finance internships provide a glimpse of the daily operations of finance roles. This helps aspiring professionals build networks. Additionally, seek opportunities to apply the acquired skills in a real-world setting.”
Q: What skills and competencies do aspiring finance professionals need?
Jenny Zhao: “Professionals need diverse skills to succeed in finance. These skills include data analytics, data proficiency, stakeholder engagement and communication, budgeting and forecasting, business acumen, cash flow management and accounting, leadership, and organizational skills. Analytical skills and mathematical aptitude also come in handy for anyone pursuing a career in finance. I often interpret complex data and make strategic recommendations. Analyzing market trends helps me identify trends, patterns, and potential risks while making informed finance decisions.”
Q: What career paths and specializations can one pursue in finance, and how do you choose a specialization?
Jenny Zhao: “The finance industry offers opportunities for numerous career paths. Aspiring professionals can kick-start their careers as financial analysts and gradually evolve into roles like investment banking, portfolio management, or financial consulting. For those looking to specialize, there are many options, such as corporate finance, risk management, or financial planning. I advise aspiring professionals to explore different career paths through entry-level or internship positions to determine where their strengths and interests align.”
Q: How important is networking in the finance industry?
Jenny Zhao: “Aspiring professionals should not underestimate the important role that networking plays. First, it helps build relationships with professionals in the industry who can provide guidance, insights, and open opportunities that might not be available publicly. The other way to build relationships is by joining professional organizations, attending industry conferences, and participating in social media groups. The idea is to build relationships early so that one can impact prospects.”
Q: What advice do you have for aspiring professionals and students looking to venture into finance?
Jenny Zhao: “The finance industry is an ever-evolving field that requires curiosity and proactiveness. One needs to learn continuously and stay informed on the latest developments and trends. Mentors are important in providing guidance and feedback as one pursues their career. The career journey is challenging and demanding. One has to maintain a positive attitude and remain resilient. I encourage all aspiring finance professionals and students alike. If they pursue relevant education, gain hands-on experience, and develop key skills, they’ll be on the right track to advance their finance careers. To remain competitive it’s important to build and maintain relationships while staying informed on the industry changes.”
Q: What are some of the benefits of working in finance from your experience?
Jenny Zhao: “A finance career provides opportunities for advancement, relatively high pay, flexibility, and stability. According to the U.S. Bureau of Labor Statistics (BLS), finance jobs will increase by an average of 911,400 yearly over the next eight years. Specific job roles such as financial examiners will increase six times over compared to other professions. So the prospects are looking good.”
Q: What are some of the most lucrative careers in finance with a strong earning potential?
Jenny Zhao: “Finance salaries depend on company size, responsibilities, experience, and geographical location. However, finance careers are very lucrative for management, executives, and high-performing workers. In my case, I work as a corporate financial analyst. This is a broad term that caters to three positions in finance. They include business development analysts, treasury analysts, and budget analysts. The other careers include underwriters and loan officers, investment banking analyst, financial examiner, advisor or personal financial planner, and financial auditor.”
Conclusion
As Jenny has aptly pointed out, there are exciting and rewarding opportunities in finance for any aspiring professional, student, or entry-level employee. By acquiring essential qualifications and skills, understanding the role of finance professionals, taking the right career path, and staying informed on regulatory changes and industry trends, one can successfully develop a career in finance. Master crucial concepts in financial analysis and planning, understand the responsibilities of profit and ethics, and employ effective risk and investment management strategies. These are some of the tips for success in finance. However, since finance is an evolving field, one has to stay informed on technological advancements and regulatory changes.
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