Factors and Barriers in Training Financial Management Professionals
The problems of training financial managers in Russian universities appear due to several reasons. Firstly, continuous changes in the business environment and complications of financial management in organizations. Secondly, the demand for creating new requirements for training financial managers under new educational standards. Thirdly, the uncertainty of employer approaches to assessment of key characteristics of a financial manager. Fourthly, differences in ideas about the competencies of a financial manager among employer and universities.
In the last years, the demand for the profession of a financial manager around the world has fallen in comparison with the early 2000s. In regard to this, we decided to analyze the training of bachelor and master degree students in financial management, and demand for them in the labor market. Despite the existing trend of a falling popularity of degree programs in economics and management, the market demand for the graduates is high.
The research goal was to find socially significant factors to influence the demand for financial managers. We used one of the Russian universities as a research environment. In total, 497 students participated in the survey, including graduate bachelor degree students and second year master degree students in management degree programs.
The survey gave the following factors to influence the demand for financial managers in the labor market: university prestige, individual perception of the educational process, student interest for the professional activities, and a degree in management for employment.
At the same time, the survey distinguished a number of barriers for personal fulfillment of the students, including: insufficient attention for non-major courses of the curriculum, absence of on-site practice to get a real life professional experience, and too much theory in major courses.
KeywordsFinancial management Manager Administrator
- 1.Abramov, R.A., Zabaznova, N.M.: Evaluation of the vocational relevance of graduates in higher education. Sociol. Educ. 11, 79–87 (2016)Google Scholar
- 2.Melnikova, T.I.: Competence approach to the training of financial managers. Education, 123–128 (2015)Google Scholar
- 3.Spencer, L.M: Competences at work [Text]. In: Hippo, M. (ed.) Models for maximum performance. Per. with English, p. 384 (2005)Google Scholar
- 4.Osipov, P.N., Ziyatdinova, J.N.: Pedagogical enhancement of students’ personal development in the course of engineering pedagogy. In: Proceedings of the 2014 International Conference on Interactive Collaborative Learning (ICL2014), Dubai, UAE, pp. 307–310 (2014)Google Scholar
- 5.Yakimova, Z.V., Nikolaeva, V.I.: Assessment of competencies: professional environment and university. Mod. Pract. 13–18 (2015)Google Scholar
- 7.Kolchina, V.V.: The state of the problem and the conditions for the formation of innovative entrepreneurial skills in pedagogical theory and practice. In: Herzen, A.I. (ed.) News of the Russian State Pedagogical University, 12(91), pp. 196–201 (2009)Google Scholar
- 8.Ho John, J.: Financial Director of the New Era. Per. with English, p. 304. Vershina (2007)Google Scholar
- 9.Kolchina, V.V.: Intensification of the process of formation of innovation-entrepreneurial competence among university students - future managers. Sci. Sch. 3, 78–82 (2013)Google Scholar
- 10.Kolchina, V.V., Sergeeva, M.G.: Modeling the process of formation of innovation-entrepreneurial competence of future managers. Sci. Rev. Humanit. Res. 9, 6–12 (2016)Google Scholar
- 11.Yashkova, E.V., Lavrentieva, L.V.: Professional skills and abilities of a modern manager. Prospect. Sci. Educ. 6, 37–40 (2017)Google Scholar