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Money Management:
Skills & Talents

The money management industry is booming and offers a variety of career options. This field deals with the largest markets of any kind in the world and call on the following skills:

Key Skill Area Requirement
People skills: Medium
Sales skills: Medium
Communication skills: Medium
Analytical skills: High
Ability to synthesize: High
Creative ability: Medium
Initiative: Medium
Work hours: 55-75/week

On the Buy Side
The field of money management involves working on the opposite side of the fence from the investment banks. That is why this field is known as the "buy side."

More Humane than Investment Banking
Many investment bankers are "Type A" personalities whereas money managers aren't as hard-charging. The job calls for a mix of Type A and Type B.

Must be Able to Take Risk
Money managers get to face the challenges of investing. If you like the excitement of selecting investments and can deal with the uncertainty of waiting for the payoff this field is for you.

It's Important to Have a Broad Understanding of Business
One of the exciting things about investing is that you get rewarded for knowing how business works. People who understand and enjoy business are among the most likely to succeed in this arena.

You Gotta Hang In There
You need to be a tenacious person to succeed in money management. It's tough to break into the business but once you have experience, the rewards can be high. Be prepared to hang in there through some tough times.

Approaches are Diverse
There are many styles and approaches to investing. You can approach the field in a very technical way with heavy reliance on computers or, instead, resort to a common sense, low-tech approach. One of the leading investors of our time, Warren Buffett, employs a small staff and spends little time with quantitative models when making investment decisions.

Think About How You Are Going to Get Started
Because it is so hard to break into money management it is advisable to think carefully about your entry strategy. You have to bring something to the table in an interview that others can't. This will either be superior knowledge and understanding or experience. A good place to start is to get experience in investing by working for a public pension fund, a bank trust department or for a mutual fund.

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