Name: Amy Frechette

Hometown: West Orange, NJ

Degree Major: Finance
Classification: Junior
Academic Plans and Career Planning:
1. Why are you in this class?
I am currently enrolled in the LSU CFP program that provides a path for students to follow so they can
eventually become certified financial planners. Financial planning has always been interesting to me and
it has just recently become my desired career path. I am interested to discover what is involved with
financial planning and excited to be introduced to the fundamentals of creating a successful financial
plan.

2. What would you like to learn from this class?
The main component I am interested in learning about is the different policies and what they mean. This
will be the first time I will be introduced to this material so I plan on getting all I can out of it. I mostly
just want to learn what is involved in a financial planning career and developing skills that I can use in
my every day life.

3. What are your intentions for the remainder of your academic career?
I am a junior right now and I have three semesters left of college. I plan to excel in each of my courses,
prepare to take the financial planning exam and develop skills that will make me more marketable in the
future. I also hope to obtain internships and create connections that will benefit me when I start to look
for a more permanent job.

4. Do you plan to get an advanced degree? From where? In what area?
My immediate plan after college is to try and get a job in the New Jersey/New York area. I dont plan on
enrolling in a graduate program until I have gone out and gained some work experience first. I hope by
following this path I will be able to save up the money to go into a little debt as possible or have my
company pay a portion of the tuition. While would prefer to be in New Jersey/New York I will have to
wait and see where my job takes me and make a decision about where to get an advanced degree from
based on that.
5. Type of jobs for your major. What would you like for your career?
My major is Finance with a concentration in the Certified Financial Planning Program. I hope to
complete the program, pass the Financial Planning exam and then go on to get the experience required to
be a certified financial planner. Other jobs that I could get with a finance degree that catch my interest
are a financial analyst, and a financial manager.

6. What is the range of incomes for these jobs? Entry level? Experienced?
The range of income for a financial planner is $32,280-$187,200 per year with an average income of
$67,520 (in 2012). In order to become a financial planner you need a bachelors degree and you need to
pass the Certified Financial Planning test offered by the Certified Financial Planner Board of Standards.
Once this is achieved you can go on to get real work experience in the field. The range of income for a
financial analyst is $47,130-$148,430 per year with an average income of $76,940 (in 2012). This job
requires a bachelors degree with coursework specializing in accounting, finance, statistics and
economics. The range of income for a financial manager is $59,630-$187,200 per year with an average
income of $109,740 (in 2012). This is not an entry-level position. A bachelors degree is required as
well as at least five years of experience in the field and an advanced degree is preferred in most
positions.

7. What is the employment outlook for these jobs? Current unemployment rate?
The employment of personal financial planners is projected to grow 27% from 2012-2022, which is
much faster than average. The employment of financial analysts is projected to grow 16% from 2012-
2022, which is also much faster than the average and finally, employment of financial managers is
projected to grow 9% from 2012-2022, which is compliant with the average rate for all occupations. The
current unemployment rate for a financial planner is 2%, for financial analysts it is 2.3% and for
financial managers it is 3%. Each of these jobs has a positive projected outlook for employment and
very low unemployment rates; this will be beneficial for me when I begin to search for jobs.

8. What are the educational requirements?
A bachelors degree is required to pursue a career in financial planning. Also, one needs to complete the
CFP Boards coursework component that requires the completion of courses specifically in the study of
personal financial planning. An advanced degree is not required but it can help your chances of moving
into a higher position and can attract new clients. The educational path to become a financial analyst is
to obtain a bachelors degree in a related field, and then work towards an advanced degree that can help
you to achieve a higher position. A bachelors degree is the minimum education needed to be a financial
manager. Many positions require a masters degree in either business administration or finance.

9. Any certifications, designations, or advanced degrees do you need? What are the requirements to
achieve these and the cost?
The main certification you need to become a financial planner is the CFP certification offered by the
Certified Financial Planner Board of Standards. In order to obtain this certification one needs to
complete the required coursework, have a bachelors degree, have at least three years of relevant work
experience, pass the CFP exam and agree to adhere to the code of ethics. This exam costs around $500.
The Chartered Financial Analyst certification from the CFA Institute is recommended for financial
analysts and financial managers. You can achieve this by having a bachelors degree, four years of
experience and pass a series of three exams. The exams would cost close to $2,000 to take but would be
a valuable investment.

10. What is the value of having a bachelor or graduate degree?
In the fields that I intend to enter, a bachelors degree is an essential tool. I need this in order to pursue
any of the jobs that interest me. The need for a graduate degree is also important if I ever plan on
achieving a higher paid, more prestigious position. I intend on obtaining both of these degrees because
they are extremely valuable for my future.

11. Is there a difference in pay for a male vs. female?
There is a difference in pay in each of these jobs. In all of these situations a woman gets paid
significantly less, however, there is an initiative for this to be changed in the CFP area. More women are
encouraged to enter this field.
Networking and Career Placement:
1. At this point, what clubs and organizations have you joined to help network?
I have been a part of my sorority, Kappa Alpha Theta for two years already. I have attended a national
convention where I was able to connect with women around the country that are already in the finance
field. I have also joined the Student Finance Association at LSU that provides several networking
opportunities. I am also planning on joining Pi Sigma Epsilon, a business fraternity focused on
marketing, management and sales skills, in order to broaden my marketability. This organization offers
business lectures and several networking opportunities.

2. Have you registered or used LSUs career services?
I have been on LSU Careers2geaux several times to look at different internships that are available. I
havent been as proactive about this as I should be, but now that I am a junior I plan to use these
resources more often.

3. Have you developed a resume and model cover letter? How often have you revised it?
I have had a resume since I was in high school trying to get my first job. I frequently update it as I have
gained more experiences. I would say that I revise my resume every 3-4 months or as needed. I have
also been in different instances where a cover letter would be beneficial so I have had some experience
writing this as well.
Job Search:
1. What do you want to do after graduation?
After graduation I intend on moving back to New Jersey and working in New York City. This is where
the most opportunity is for the area I am trying to work in. I hope to be proactive enough while still in
school so that I have an internship or job lined up for me once I graduate. I will work and grow as much
as I can with a company and see what opportunities are available to me within that company. Also, once
I graduate I plan on taking the CFP exam and start the process of becoming a certified financial planner.

2. What are your 5 year and 10 year career plans?
If I choose to pursue a career as a financial planner my five-year plan is to complete the requirements in
order to be completely certified as a financial planner and grow with a company that will allow me to
learn as much as possible and start to create a solid client list. In ten years I hope to have achieved a
higher-ranking position in whichever firm or company I am part of and have a strong client list. I may
also look into teaching classes about financial planning in order to interact with more people and build
my reputation in the financial world. If I choose to go on the financial analyst route, I hope that in five
years I will have completed the certification requirements and be part of a company that I can work my
way up in. In ten years I plan to have my advanced degree completed and hold a higher position in the
company. In this scenario I would ideally work my way up to a financial manager.

3. Who are the primary employers for your desired career
There are several different routes one can take as a financial planner. Some of the primary employers for
my desired career are finance and insurance companies such as securities and commodity brokers,
banks, insurance carries and financial investment firms. Also, many financial advisors are self-
employed.

4. Pick two (2) potential employers in the field you desire to obtain employment. Write up a brief
overview of the company. Please explain why you think that would be a good company for you to begin
you career. Use your answer to this question to evaluate the questions below.

Goldman Sachs: This company is one of the top global investment banking, securities and investment
management firms that provide services to individuals as well as corporations. They cover a variety of
services such as advising, financing, supporting, managing and investing for their clients. I think this
would be a good company for me to begin my career with because there is a lot of opportunity to grow.
They have several different internship opportunities and plenty of programs that help you build your
career from whatever level you are at. I would be able to begin my career with all of the top resources
and would be learning from the very best. I feel that if I were part of this company I could be introduced
to so many different positions and find what I excel at and pursue it while also moving up in the
company.

Merrill Lynch: This is one of the top providers of wealth management, securities and trades and sales,
corporate finance and investment banking services. This company has a heavy focus on creating
meaningful and trusted client relationship, which has made it one of the best-known resources for
financial advising. I believe that I could also start my career here because they have a very beneficial
program for becoming a financial advisor. They have a set curriculum, offer mentorships and coach you
into the proper ways of financial advising. They are very well known and respected so getting to work
with this company would really help my reputation in the finance world. Again, there is much room for
growth within this company and the resources that I would have access to would be incomparable.

5. What is the cost of living where you are now? What is the cost of living in the area you would like to
live in the future?
The cost of living in Louisiana is cheaper than the US average. I plan on moving back to New Jersey
where the cost of living is well above the US average. Everything tends to be more expensive in New
Jersey.

6. How much with you spend on housing in the desired area you would like to live?
Luckily in my situation I will be able to move back home after graduation. I will be able to live with
paying little to no rent until I am able to sufficiently support myself in an apartment that I am
comfortable with.