The Discussion on Why Finance Major Experiences Certain Challenges
Difference between academic writing and workplace writing is the style and the content in which the matter needs to be conveyed. Academic writing focuses on explaining the topic and enables you to further your topic. It can be concise, but it can often be stretched out to fit specific guidelines of the paper itself. It focuses around a topic given or topic already discussed while trying to improve knowledge or gaining information about it. It is more formal, using third person and focus on facts. While professional writing is concise, and you are trying to achieve a specific goal through that writing. It is based on opinions and is less formal with a point of view. Workplace writing is an important aspect for all business majors as it measures your competency in the field. It is notable important to professionals in finance as it ensures effective business communications and demonstrates your knowledge. As a finance major writing is an important skill that has to be continuously worked on. According to an article, “HR pros ranked writing second, behind only computer aptitude, among skills applicants most often lacked” (Bortz, D., & Poppick, S., 2015). A skill that should be known as a graduate is still lacked, knowing how to use computer skills and writing skills is an asset to finance graduates because it is what you learned.
Workplace writing for finance consists of making reports and writing memorandum in a business professional manner. Reports are the end products of a client’s portfolio making. After a portfolio has been examined to the clients liking it gets sent to upper management as a report stating the details. A client lists its requirements or special key point in choosing a stock, bonds, etc. Which is also written out in small key points as a financial advisor for future references. As a financial advisor to the client it is my job to make sure the clients have their chosen assets that will help them with future investments and returns. Working in an investment firm it is a key asset to know how to write in a workplace setting to understand the language.
Another workplace writing is having to write a memorandum, which is an internal type of communication used by many firms. A type of memorandum writing is keeping track of meeting minutes, since it requires you to make small but crucial sentences regarding the meeting. Knowing what to write and how to write it in a way people can refer back to it is a type of writing that requires you to be straight and to the point. Many graduates face challenges about how to use other skills that also help with writing. Getting used to writing short and concise is used in everyday terms as a financial analyst, or an advisor.
A challenge most finance graduates face would be in applying their knowledge in the real world. As a finance graduate knowing stocks and investments is key since you will be helping clients put together their portfolio. Sometimes it is also used during interviews for jobs. Many know how to find desired assets that suits a client’s portfolio, but cannot put it into writing terms that is readable to other individuals or clients in general. A strategy that can be used to manage this gap is to take classes that help with the writing aspect as a finance major. Taking a portfolio class helps you put together it in terms of numbers but also in writing. Being able to carry over the knowledge to workplace.
Another challenge is time management, as many students tend to do assignment the last minute it is a bad habit. In a college setting most assignments are due around the evening and are given time to complete. While in a professional setting some tasks and projects can be pushed ahead which can affect your time management if not properly handled. In a business professional setting not, many graduates can keep up with their time management. Since many tasks require them to be done at a certain time, as many clients could be in a different time zone. Knowing how to manage time is key as a financial advisor to any firm as it is a benefit to the company as well as you. A strategy that can be used to help with time management is to have a schedule. Having to multitask is an efficient way to help with managing time and keeping track of your day. Planning is also key because in finance as a financial advisor to your clients is key to meet deadlines because the client could prove to be a huge gain or loss for the company if not handled properly.
I plan to apply these challenges and strategies during my academic training by using the time I have to polish them to the best of my abilities. As a senior in finance some of my classes are requiring me to write papers that help me understand the overall view of that class. It also prepares me to use the skills gained and polish them as I graduate. While working at a company can help me polish them even more, but working in internships will help me even more as it is designed to get you into the field while still preparing for it.
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