Timothy Talmage

BUS-1010-407
Engh
April 19, 2015

E-Portfolio Signature Assignment: Financial Analyst

When I graduated high school in 2009 I did not have a tangible idea of what
career I thought I should enter. As I researched various schools across the country, I
chose a demographic that catered more toward location than actual educational integrity.
Growing up in the modest city of Portland, Maine, I was intrigued by Salt Lake Citys
natural accessibility to multiple surround mountain ranges. After applying to a handful of
schools, I decided to follow my dreams of being a professional skier and attend the
University of Utah in the latter half of 2009, instead of a reputable private school, Bates,
in Central Maine. With that being said, I attended the U of U for one semester before
trying to live the life of a ski bum. Since 2009, I have had various part-time and full-time
jobs, primarily in the service industry. As I gained more responsibility and began
understanding the complications of every day life, I started to focus my attention on the
creation and flow of money. I began to wonder why homelessness existed if people could
simply grasp their own will power, obtain a job and work to pay for desired comforts. I
started to question everything, including concepts of happiness and success. I worked
vigorously to climb my way to a successful, high-end service industry job that allowed
me to make over fifty thousand dollars a year. Despite my financial freedom as a young
adult, I felt as though my own mental strength was being wasted on overpriced cuisine
and fine wine. I began to research potential career goals and opportunities, and finally
realized that I belonged in business school. With my mathematical proficiency, I leaned
toward a career in accounting but finalized my goal of graduating from the University of
Utah with a degree in Finance.
Although accounting can provide a solid career, I looked into finance because it
represents a huge portion of the GDP in the United States (SelectUSA). Although the two
degrees are very similar in content, I would like to focus my education on the constantly
changing financial realm and less on the physical recording of it. Money management has
been a concept my brain has focused on since I wanted the newest video game in grade
school. Finance caters to worldwide corporations, governments, financial institutions,
stockholders and businesses in general, providing various services from sales and trading
to investment banking. Of course, my dream job would be a CFO of a financial brand,
perhaps in the realm of reinsurance. The journey toward that goal is long, beyond the
years of school ahead of me. For the time being, my desired occupation would be that of

a financial analyst, learning basic level department transactions and overall effects of
those transactions. In order to reach the level of a CFO of a successful corporation, I
would assume both a CFA and or an MBA would be necessary. In most cases, years of
experience within the field would attribute to most of an individuals resume, however,
starting with an MBA or CFA would only give propelled leverage toward a career goal.
As an entry-level analyst for a financial institution, I would be essentially at the bottom of
the financial food chain, creating models of spreadsheets for more senior analysts,
helping research potential investments and providing the manpower for the mass amounts
of documentation. If I were to pursue a CFA or an MBA immediately, I could hopefully
have a leg-up on some competing junior analysts; however, a resume is nothing without
experience. I had the opportunity to briefly interview a good friends father back in my
home state of Maine. Currently the Senior Vice President at Gen Re in Portland, Maine,
Drew King explained that experience within the industry is absolutely integral to being
successful in finance. King attended school at Bowdoin, College in Maine and worked in
various positions in multiple companies throughout the 80s and 90s. After obtaining his
MBA and with most of a decade of experience on his resume, he accepted a Second VP
position at Unum eventually leading him to a VP position at Aetna. Working in insurance
gave him a strong perspective of the fluctuation of money and advised me to look into
Actuarial Sciences. Currently working in reinsurance, Drew King has an impressive
salary and represents success through work ethic.
According to Financial Times, the leaders in Investment Banking include
Goldman Sachs, JP Morgan, Merrill Lynch, and Morgan Stanley. These massive
organizations provide financial services to a vast demographic. From corporations in
need of liquid assets to governments needing securities and capital. Since financial
markets have grown over the decades, investment banking has broadened its services due
to the nature of competition. Goldman Sachs, JP Morgan and Merrill Lynch all have
branches in downtown Salt Lake City, allowing for many internship opportunities to
graduates emerging from local Universities. A good friend of mine is in his first year at
Goldman Sachs as a junior analyst and currently spends 40-60 hours mining through
paperwork and statements. A majority of his job is to provide assistance to his superiors
in creating reports and providing simple analysis. Austen Guth graduated with an
Economics degree and after completing an internship with Goldman, was offered a full
time position. His starting salary is set at $45,000 based on his education and limited
experience. Not a terrible starting salary, although his work hours are standard and he has
plenty of room to move up in the company and increase his benefits. Drew King, on the
other hand, has a six-figure salary of $750,000, not including his yearly six-figure bonus.
The potential income in the entire financial industry is seemingly infinite.
Considering money is the root of investment banking, market trends greatly affect
the entire career outlook. When the housing bubble burst and our economy was
devastated by the Subprime Mortgage Crisis, the entire economy experienced the
Financial Crisis of 2008 (The Great Recession). When the housing market was hit, all the
financial institutions experienced massive loss leading to the infamous government
bailout. Since then, America has been recovering steadily. Financial careers will always
be subject to change based on our economic state. As the economy continues to grow,

flaws within the system will cause new regulations and variables to be perpetually
implemented.
One individual who clearly stands out in the world of money is Warren Buffett.
The only son of a Congressman in Omaha, Nebraska, Buffett has an eye for money. At
the early age of 13 he was selling horseracing tip sheets and newspapers, using his
bicycle as a tax deduction. After attending the University of Nebraska, Buffett made a
series of purchases of companies whose stock rose shortly after his initial investment.
After making significant monetary gains, his nickname the Oracle of Omaha was
coined. Working as an investment salesman during the 1950s, Buffett gained enough
experience to co-partner at Buffett Partnership, LTD. In 1970, Warren Buffett took the
place of Chairman and CEO of the well-known Berkshire Hathaway Incorporated. Since
then, Buffett has been noted as making the single largest charitable donation in the
history of the United States of America. With his success at Berkshire Hathaway, Buffett
donated 10 million Class B Berkshire Hathaway stocks to the Melinda and Bill Gates
foundation in 2006. The equivalent value of these shares at the time equated to roughly
30 billion dollars. In 2008 Buffett was named Forbes Wealthiest Man, primarily from his
success at Berkshire Hathaway. Although in his eighties, Buffett still continues to
maintain his corporate and financial power, even overcoming prostate cancer in recent
news (Bio.com).
I believe all the examples I have come across in my research show me that
investment banking does allow for a solid family life. Despite hard work and long hours,
most employees are able to sit down to dinner with their family at night. Obviously the
American business model is typically a nine-to-five type agenda and the standard Utah
social climate emphasizes strong family values in general. Drew King, for example, has 4
children, all of which who have attended college and are pursuing their own careers. My
close friend Austen Guth lives happily with his girlfriend and does not complain about
having long weeks as long as he can enjoy his nights with friends and family. The only
disadvantage of the financial industry is the reliance on the power of the economy. The
flow of money is a powerful and important concept and the people of the United States
hold much of the power in their allocated hands.
I believe the world of money is where I belong. I have always had an interest in
the creation of money and the various ways in which money can be utilized as more than
just a simple tool of transaction. I am confident in my understanding of business and
economics so far in my educational career and am eager to learn more. I have a much
more mature impression of my career and life goals than in my prior adolescence. I am
ready to remove myself from the dismal service industry now that I have enjoyed the ski
bum lifestyle to the fullest. For the past five years I have enjoyed the natural aspect of
Utah, but now is the time to enjoy the financial aspect.

Works Cited
Bio.com. A&E Networks Television, n.d. Web. 30 Apr. 2015.
<http://www.biography.com/people/warren-buffett-9230729#record-breaking-donation>.
"The Great Recession." State of Working America. N.p., n.d. Web. 30 Apr. 2015.
<http://stateofworkingamerica.org/great-recession/>.
"League Tables." Investment Banking Review FT.com. N.p., n.d. Web. 30 Apr. 2015.
<http://markets.ft.com/investmentBanking/tablesAndTrends.asp>.
"SelectUSA." The Financial Services Industry in the United States. N.p., n.d. Web. 30 Apr.
2015. <http://selectusa.commerce.gov/industry-snapshots/financial-services-industryunited-states>.