Posted November 01, 2018 08:08:51With more than $1 billion in annual revenues, the International Finance Corporation (IFC) is the world leader in the financing of global business operations.
Its $1.1 trillion global business capitalisation provides an opportunity for many top professionals to make significant income from their roles, but the financial benefits are often limited to the elite.
The International Finance Association (IFA) offers a unique opportunity to make a substantial salary, which is an opportunity not many other professional organisations are willing to consider.
“The IFC is one of the most prestigious companies in the world and the most influential of its kind, and the salary is certainly a no-brainer,” says Pauline O’Sullivan, managing director of global recruiting firm O’Gara.
“It’s the equivalent of a £150,000-a-year job for someone working in the finance industry.
The salary ranges from around $150,0000 to $300,000.”
While there are some advantages to earning a top salary, there are also risks to it.
“For one, if you don’t take advantage of the opportunities, it’s hard to earn your living,” says Ms O’Grady.
“Secondly, many people don’t have the financial skills to take on those roles.”
She adds that some employers will not even consider candidates who do not have a BSc or BSc degree.
“Even if you’re an international executive, the finance sector can be a tough business and people can get discouraged,” Ms O, says.
“If you’re a career-focused individual, and you’re not a student or looking for a degree, there’s no guarantee you’ll get the opportunity to earn as much money as some of the best international finance professionals.”
There are also some significant barriers to entry, such as the fact that most international students are not trained to earn salaries.
“International students are often required to take out student loans to get into university, and many of those students may have to leave school to get an entry-level job,” says Mr O’Mara.
The IFA does offer a number of career-specific training programmes that are designed to help aspiring graduates.
These include a four-year Bachelor of Business Administration degree and a Masters of Finance degree, which are both offered through the IFA’s International Finance Training programme.
“I would be willing to pay for a full-time career in finance for a career that I want,” says Chris Cottrell, a career development consultant who has worked for several companies including Morgan Stanley, Credit Suisse, and Deutsche Bank.
“There’s no such thing as a ‘cheap’ or ‘free’ degree, and for those who are willing and able to put in the time, it will pay off.”‘
I’d rather not have to work hard’While many of the jobs offered by the IFC and its clients are in finance, many are also in financial technology and financial technology advisory roles.
“Financial technology is becoming increasingly important as a way to access financial markets and provide more effective solutions to business problems, as well as to deliver on customer service and deliver more value for clients,” says Julie Atherton, a financial technology analyst at PwC.
“For example, in recent years, financial technology companies such as Credit Suise, Barclays and HSBC have created and developed technologies to assist their customers to manage their finances.”
Many of these firms are looking to bring some of their expertise to their clients’ everyday operations, such that the financial sector can continue to flourish.
“Most companies want to take advantage to offer their services across a broad range of industries, from finance to asset management to insurance,” says Elizabeth Smith, the global finance and insurance lead for PwP’s global clients.
“They’re not looking for just one particular industry, but a range of different industries to support.”
“I’d be willing for a pay packet that would pay my rent, but I’d rather just leave the work to someone else.”
Ms O’Kellar says there are several benefits to being a top executive at an IFC client.
“When you’re able to work across a wide range of companies, you’ll be able to be effective in many different industries, which in turn can lead to more efficient business processes, faster decisions, and better returns for clients and shareholders,” she says.
“I can tell you that I’m not in this job for the money, but it’s an incredible opportunity.”
There’s also a lot to gain from working in a diverse industry.
“You can work on projects that are challenging, that require high level of expertise and the ability to manage a diverse team, and that also allow you to focus on your personal interests,” says Michael Egan, a global financial services analyst at Nomura.
“That’s something that I would never have been able to do as a career, but now that I’ve taken on a role, I’m able to bring a different perspective