Decision-making for Finance Execs

by Christine C. Bitoon


Decisions are made on a daily basis -- where you will eat lunch, who to hire and how much should you allot for a new project. For top executives in finance jobs, everyday decisions may have life-changing, turning-table effects. If you are working as a financial advisor, for instance, your market analyses and conclusions would affect your clients' resolutions about their wealth and finance matters.
As you gain ground in your industry, as you establish your reputation and credibility, you should be more cautious about snares in decision-making. They may not be related to how you play the finance game. Instead, it may be about how you are handling your career and how you conduct yourself in the company of clients and partners.    

Career direction

New trends in finance and banking jobs may affect your career in a lot of ways. Today, a lot of financial advisors are finding new fulfilment in being consultants for wealthy individuals managing millions of dollars worth of assets. As more people become more aware of the need for being educated, the demand for well-versed experts also rise.

Be wise in deciding about career movements, though. Even if you see potential in the new trends in finance and banking, you should weigh up well your current position and how much you can benefit if you make the shift. Are you already an established broker or top executive, or are you still in the stage of gaining ground in your trade? If there is nothing to lose and everything to gain by shifting, go ahead and steer your ship to the new direction. Consider shifting not only as a way to make more money, but to create a learning platform you can be in for a lifetime.  

Career reputation

If you have long been an industry authority, you may already be well aware of the ins and outs to success. But no matter how far you have already sailed in the banking and finance sea, you are still very much prone to wrong decisions. Everyone is, from new talents to seasoned professionals. But wrong decisions on finance strategies can be considered as lessons learned. Wrong decisions on relating with others, however, can become a demerit to you and your reputation.

The next time you are placed in a situation where you have to make a tough decision in the office, give yourself ample time to think through the situation. Let the better part of you take over. From there, you will come to the decision that will benefit many.

This also applies to office conflicts. How do you react to negative things said about you? Do you lash out and hate back? Or do you maintain dignity, acting right and showing understanding no matter what? Being a noble executive may lose you some dollars, but you will certainly be a hero in your company. And at the end of the day, the decisions you make out of concern and consideration will be the ones you will be proud of.