Writing Is Important in Finance?
"I once asked this literary agent what writing paid the best, and he said, 'ransom notes.'" Harry Zimm, Character in the Movie Get Shorty. This is a common question asked by individuals in search of an academic major, and there are two ways to view Zimm’s response. He states that the meaning of letter reveals the “true value” of the material, while also incorporating the sarcastic stance in which payment notes receive the most money. Financial income is usually a prime factor in one’s determining their future profession, but many have neglected to realize that you do not receive money based on a title, but instead are rewarded for your ability to complete tasks better than your competitors. Regardless of your major, success tends to parallel one’s writing ability.
In an interview with Daniel Hildebrandt, an Economics major with a focus in Finance, I discovered a variety of insights about writing in the finance major. Hildebrandt recently completed a cost benefit analysis of a company, which showed a past decision made by a company, and the effect and future effects the decision may have on the company. His goal is to determine if the company should continue their operations or make revisions. Areas of concern for Economists include: how much the company will save financially and materially, the possibility of the decision producing job opportunities, and how the decision may affect society as a whole. The conclusions of economists are rarely completely accurate, or in the words of Hildebrandt, “people tend to think economists are useless because they are required to make too many assumptions.” Many are not realizing economists form logical, researched hypotheses about the decisions of companies. These analyses derived from others’ and the economists’ research may not be totally accurate, but will give a company a general idea on the efficiency of their operations.
Writing is incorporated in the field of Finance from the hiring process through the retirement stage. The ability of an individual to write academic papers and analyze a company’s financial status directly correlates to being hired for internships and eventually full-time jobs, not to mention will enhance an individuals ability to do well academically. An individual must be able to contact future employers or clients through strategies ranging from news pamphlets to detailed analyses of one’s accomplishments (resumes). These tactics are generally learned during undergraduate years, where one will become well acquainted with a variety of styles and resources involved in communication skills. If an individual’s actions (i.e. communication skills, resume) attract positive attention, he or she will develop a network of clients who will be eager to invest.
Although writing may not seem valuable in Finance, it is arguably the most essential tactic in the field. The essential tactics of communication and writing are basic, but with the aid of higher education and experience, an individual can substantially increase their financing abilities. Without the ability to write, one is unable to prove their talents to fellow clients or employers, and may be unable to perform their job effectively.
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