« My CFA Exam Study Strategy | Main | European Safe Bonds (ESBies) »

11/30/2011

Cash Rich Non-Financial Firms Are Luring Financial Pros


Click to Print This Page

EfinancialCareers

Have you ever considered looking beyond the financial markets to find a finance job? No? Well, you may want to think about this. While the financial sector is shrinking in the wake of the economic meltdown, continuing shocks to the financial system from the European sovereign crises, and a complete inability of Washington politicians to agree on anything, cash is piling up on Main Street.

Treasury Strategies, a Washington-based treasury consulting firm, says at the end of the third quarter corporate cash balances grew to $2.05 trillion—a 4.5 percent increase over last quarter. That is $648 billion more than the first quarter of 2009.

“Historically, corporations have not been comfortable holding so much cash. However, changes such as unlimited federal deposit insurance for noninterest bearing accounts are making treasurers much more comfortable holding onto large sums of cash—particularly when placed in the U.S. banking system,” Anthony J. Carfang, a partner of Treasury Strategies, tells eFinancialCareers.

This cash accumulation is across the board. Many companies are using the cash to buy-back stock or raise dividends. But some are hiring.

Follow the Money

Just remember, companies that make something also have finance jobs. Just follow the money. That is, check the websites of publicly traded manufacturers with large piles of cash on their balance sheet. This information for publicly traded companies can be easily found on Yahoo or Google. Just go to the finance sites of those search engines, type in the name of the company and look at its financials. On Yahoo, it can be found under key statistics, which are the numbers used in this article.

Start with Microsoft, which has nearly $56 billion on its balance sheet and is looking for financial professionals in Kansas City, M.O., Bellevue and Redmond, W.A. Microsoft was also recently advertising for a chief of staff for the president of Microsoft Business Solutions, which it describes as the next multi-billion dollar business delivering dynamics CRM, ERP, and Healthcare Solutions products. An MBA or advanced technology degree with business management experience is required.

Google is sitting on a $42 billion stash. Google was recently trying to fill a number of finance positions in its Mountain View, C.A. headquarters, including financial analysts for the emerging products team, a finance operations project and process analysts, and a renewable energy associate for its corporate finance department. It also needs a due diligence manager and a global finance lead for its small business solutions.

Toyota Motor Corporation (TN) needs tax and financial analysts in Los Angeles, as well as accountants. It has accumulated $39 billion in cash.

Apple Inc. (AAPL), which is sitting on $26 billion, has posted a job for an “Order-to-Cash (“O2C”) Subject Matter Expert to join the Global Finance Shared Services team based in Austin, Texas.” It also has analyst positions in Cork and Singapore.

Gilead Sciences Inc. (GILD), has about $2.2 billion on its balance sheet. The biopharmaceutical company discovers, develops, and commercializes therapeutics for the treatment of life threatening diseases, such as HIV/AIDS. It was recently looking for analysts and a manager for clinical contracts and finance in Foster City, Ca. and an associate director of finance in Stockley Park, KS.

Related Posts Plugin for WordPress, Blogger...

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

UConn-ad

NYSSA Job Center Search Results

To sign up for the jobs feed, click here.


UPCOMING EVENT
MF16

NYSSA Market Forecast™: Investing In Turbulent Times
January 7, 2016

Join NYSSA to enjoy free member events and other benefits. You don't need to be a CFA charterholder to join!


CFA® EXAM PREP

CFA® Level I 4-Day Boot Camp
Midtown

Thursday November 12, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level II Weekly Review - Session A Monday
Midtown

Monday January 11, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level III Weekly Review - Session A Wednesday
Midtown

Wednesday January 13, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level III Weekly Review - Session B Thursday
Thursday January 21, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level II Weekly Review - Session B Tuesday
Thursday January 26, 2016
Instructor: O. Nathan Ronen, CFA