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Managing Money

Are you the next Donald Trump? Managing money is about more than getting rich — it's about understanding the economy and the value of a dollar. If you're convinced you have the Midas touch, you might want to consider a career as a stockbroker, an investment manager or a real estate developer. But these are just a few of the jobs available if you're interested in working with dollars and cents.

ACCOUNTANT

In a Nutshell

Accountants keep track of money and report to company managers and people outside the company. If you are good at math, well organized and have good analytical skills, then accounting could be a career option for you.

There are four kinds of accountants:

  • Certified Public Accountants - CPAs do accounting, auditing, tax, and consulting work at accounting firms for clients.
  • Management Accountants - they keep track of the money spent and made by the companies they work for.
  • Internal Auditors - they make sure a company's accounting records are right and that no one in the company is stealing.
  • Government Accountants and Auditors - they ensure that government accounting records are right. They also check the records of people doing business with the government.

Get Ahead

  • Get a college degree in accounting.
  • Public accountants must get certified as a Certified Public Accountant.
  • Some employers want you to have a master's degree in business or accounting.

Earning Power (2008)

  • Nationally, the middle half of all accountants and auditors earned between $44,230 and $75,020 per year.
  • In Texas, they earned between $41,910 and $73,220.

They Did It

  • J. P. Morgan — financier and banker began his early career as an accountant on Wall Street.
  • Josiah Wedgewood — potter and inventor of cost accounting.
  • Walter L. Morgan — a CPA, considered the father of the mutual fund industry.

FINANCIAL ANALYST

In a Nutshell

Financial analysts help people decide how to invest their money. To do this, you need good math, computer and problem-solving skills. You also need good people skills, which include confidence, maturity and the ability to explain complex concepts in simple terms.

Get Ahead

  • Financial analysts should have a college degree in business, accounting, statistics or finance.
  • A master's degree in business administration (MBA) is desirable.
  • Classes on how to make presentations and write reports are helpful.
  • Read about business news.

Earning Power (2008)

  • Nationally, the middle half of all financial analysts earned between $53,150 and $95,580 per year.
  • In Texas, they earned between $52,120 and $89,790.

They Did It

  • Abby Joseph Cohen, senior U.S. investment strategist at Goldman Sachs

LOAN OFFICER

In a Nutshell

Loan officers help people apply for loans. This could mean personal loans for a house, a car or college or a business loan for equipment and supplies. This involves a bit of sales, so an outgoing personality and problem-solving skills would go a long way.

There are three kinds of loan officers:

  • Commercial Loan Officers - find loans for businesses.
  • Mortgage Loan Officers - help people who want to buy houses or other real estate or get new real estate loans for property they already own.
  • Consumer Loan Officers - assist people in getting loans for items, such as a car.

Get Ahead

  • You should get a four-year degree in finance, economics, or a similar field.
  • Take plenty of math and computer classes to prepare for this job.

Earning Power (2008)

  • Nationally, the middle half of all loan officers earned between $38,740 and $74,750 per year.
  • In Texas, they earned between $42,280 and $79,590.

BOOKKEEPER

In a Nutshell

If you like tracking numbers, are good at math and problem-solving and well-organized, you could have what it takes to be a bookkeeper. Bookkeeping clerks add, subtract, multiply and divide many numbers each day. They must be able to use computers to calculate and record data. Certain clerks handle only specific accounts. Some bookkeepers maintain books for an entire company.

Get Ahead

  • Entry-level financial clerks must have at least a high school diploma.
  • Bookkeepers should have an associate degree in accounting or business.
  • Get experience working in an office setting. Bookkeepers may have to answer phones and meet with customers.

Earning Power (2008)

  • Nationally, the middle half of all bookkeeping, accounting and auditing clerks made between $25,473 and $39,070 per year.
  • In Texas, they made between $23,660 and $36,830.

REAL ESTATE AGENT

In a Nutshell

Real estate agents help people buy and sell houses and commercial property. It involves doing a lot of research on different neighborhoods so you can help people find a good buy or make a sale. This job involves spending time with people, listening to their requests and solving problems that may arise. Agents tend to work more than 40 hours a week and their schedule can be erratic.

Get Ahead

  • You must take an examination to be licensed to sell real estate in Texas.
  • To take the exam, you must be a high school graduate and at least 18 years old.

Earning Power (2008)

  • Real estate agents rely on commissions.
  • Nationally, the middle half of all real estate agents earned between $27,700 and $65,040 per year.
  • In Texas, they earned between $23,250 and $65,540 a year.

Based on material developed by the U.S. Bureau of Labor Statistics.