Running Head: FINANCIAL ECONOMIST

Financial Economist
Juliana Ivanova
Salt Lake Community College

FINANCIAL ECONOMIST

One of the biggest decisions we get to make in our life is deciding what career path to
follow until the age of retirement. Growing up, we were asked the common question: What do
you want to be when you grow up? where we listed off brilliant ideas without realizing how
much work was put into achieving the future career, like the amount of time, money and
resources involved in contributing to our final choice. To find this out, I interviewed a cousin of
mine through Skype and Facebook Messenger, Gergana Georgieva on her financial economic
career, something I very well may plan to pursue soon.
Economics and finance go hand in hand most times and are easy to differentiate.
Economics is aimed towards consumers and producers and how they react towards changing
conditions, while finance has a wide range and covers a variety of specializations. Both
economics and finance use similar information to project future growth. Finance is more about
helping other businesses and organizations with the way they manage their money. You need to
plan for the long term and look ahead at how financially stable the company will be in the future
before you know how much to spend on different projects (Major). Finance opens you up to
the opportunity of working with money, stocks, bonds and markets. This information then allows
you to determine how well the institution is financially and from there you can do the managing
and improvements the company may need as a financial economist.
What I find the most intriguing about economics are the analytics involved. In my current
microeconomics class at Salt Lake Community College, you analyze graphs and learn about
where companies are at maximizing profits/ losses, how much better off they currently are
compared to the long-run, revenues, costs, etc. and you chart these through excel yourself based
off limited data to learn the process for yourself. I like being able to look back at the graphs and
see exactly what they represent in the real world and how all the economic terms relate as well
(Economics).

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To attain this job, you will need to have a bachelors, masters degree and even a Ph.D.
depending on where you plan to work, work experience and an optional professional
certification. Most companies like appropriate work experience and references to find suitable
applicants for the hiring position. Voluntary certification exists if you are wanting to teach at the
state level in public schools. Certification can essentially lead you to greater job opportunities
and career advancements. The job outlook is great if candidates are willing to earn a masters or
Ph.D. and have strong analytical skills, particularly with large data sets and have relative work
experience (Miller).
A typical day in the life of a financial economist consists of arriving to the office early to
go through paperwork, emails and interact with the different companies on the other side of the
globe. Since my cousin works in Postbank in Bulgaria (Eastern Europe) the countries in Europe
are a lot easier to connect and discuss any improvements and/or issues. Often, traveling is
required to attend conventions, corporation meetings or visiting other firms, and are a fun work
vacation to get away from the office and learn a few things from a different perspective. Most
financial economists work in federal, state, and local governments and are paid a median salary
of $113,000 (Financial) in the United States. Since financial economists work extensive hours,
they have a flexible schedule and can take time off a couple times a year for personal vacations,
sick days and/or bereavement leave.
According to US News, financial economists rank #4 in Best Business Jobs, #22 in Best
Paying Jobs and #31 in Best Jobs. Theres a strong market and a constant upward mobility on
promotion within the career (The). Although thats the case, getting to this place isnt easy.
Applying to business school may cost you anywhere from $40,000 to $70,000 a year, based on
the top schools for pursuing The Master of Business Administration (MBA) (How).
Georgieva, attended Sofia University in Sofia, Bulgaria. Her most relevant classes were

FINANCIAL ECONOMIST

economics, management, computer, math, finance and accounting- which to me are the most
obvious classes and the makeup of the major itself. During her Undergraduate in Business she
was able to go on an all-expense paid summer internship with Telenor, the second largest
Bulgarian GSM provider, located throughout the country. The internship with Telenor was
related towards a marketing field and although I had no intention of pursuing marketing, it was a
life changing experience being able to visit Germany, France, and the United Kingdom to see
how billion dollar companies functioned (Georgieva). She goes on to mention how beneficial
this trip was in seeing the reality of large businesses and how important a degree in business was
for her.
After completing school, Georgieva initially wanted to move out of Bulgaria and was
offered a few jobs in Poland, Greece, and the Czech Republic but decided to stay in Bulgaria
essentially for the higher pay and a hope for a better life. She currently works for Postbank, a
banking firm with headquarters located in Sofia, Bulgaria, as a financial economist and couldnt
be more thrilled with the place shes in. As you may know, a degree in business is a lot of hard
work, yet completely worth it if you are willing to motivate yourself and take precautionary steps
to guarantee a victory (Georgieva). Her advice for someone who may want something similar is
to be passionate towards what you love, work hard and find clubs or internships to set your foot
in the door for future opportunities.
One of her favorite quotes from Rita Mae Brown is, Never hope for it more than you
work for it. She uses this quote in her piece of advice for students like myself who are currently
going into business and want to further their careers. You can dream big, but to accomplish those
big dreams you need to work incredibly hard and never give up. This advice honestly applies to
anyone, even those people trying to convince their parents of buying a new family dog. She
recommends attempting to be a part of your university groups and programs and if possible to be

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considered for scholarships and internships offered through the programs. It is highly selective
and building an impressive resume helps both you and the committee.
I have a plan to finish my Associate of Science in Business Degree at Salt Lake
Community College by the Spring of 2017 and transfer to the University of Utah for my
Undergraduate degree. From there forward, I would like to move out of Utah and attend the
University of California and get accepted into UC San Diego to finish up my Graduate degree in
Finance, although I have been considering a double major in Economics. I have a great interest
to get as much schooling as possible before settling down, but as far as planning my future goes
this is as far as Ive gotten.
My biggest misconception is seeing how economics transfers in the real world.
How much will I be earning once Ive conquered my schooling? Is there a broad field of jobs
available to people looking to approach this field? Is it a job people enjoy? Do people who
pursue this career end in a handful of student debt? What are the benefits and drawbacks towards
Georgievas company? A lot of my curiosities are towards simple questions that dont involve
too much of an explanation.
One of my curiosities was what Georgievas considered pros and cons of her work
environment. Some advantages are location, flexibility, work atmosphere, cleanness,
friendliness, and getting paid by the hour- as silly as that may sound, you arent working without
getting paid as many salaried positions are. Some disadvantages are communication skills,
diplomacy, and the role politics plays into the career. As mentioned before, they are
international companies and they tend to work different and want whats best for their company
instead of whats best for everyone. You always should be cautious with the information you are
handling and make sure you are following all principles.
With the information, I learned from my interview and extensive research, I would like to

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believe financial economics is something I could see myself being a part of. Of course, there are
many more years to come and different opportunities that may pop-up and influence my
decision towards a different field. I love the idea of being in charge and helping others succeed
and hope to find something in economics even if it doesnt turn out to specifically be financial
economics. I need to believe in myself and strive for scholarships, internships and volunteering
opportunity for any small thing to make my resume more impressive. Ive even looked at Human
Resource, Store Directors, Assistant Managers, (even Real Estate) and quite frankly all those
jobs are of my liking as a backup. My hope for myself is to find something Im passionate
towards, pays well, is reliable, and isnt too chaotic.

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7
Sources

Georgieva, Gergana. Personal Interview. 15 Nov. 2016.

Miller, Rodger. Economics Today: The Miro View 18th Edition. Institute for University Studies.
2014. Print.
n.p. Economists. Bureau of Labor Statistics. United States Department of Labor. 17 December
2015. Web. 20 November 2016.
n.p. Financial Economist Salary. Glassdoor. Glassdoor, Inc. 3 Oct. 2016. Web. 20 November
2016.
n.p. How Much Does it Cost to go to Business School? Careerigniter. Careerigniter.com. n.d.
Web. 20 Nov. 2016.
n.p. Major: Finance. BigFuture. The College Board. n.d. Web. 20 Nov. 2016.
n.p. The 100 Best Jobs. Money. US News. 2014. Web. 20 Nov. 2016.