While most of us love the things that money can buy, it’s not easy to manage the stuff, much less make a career out of it. Those up for the challenge, however, will find that a career in finance can be incredibly lucrative and exciting.
Rapid growth in the industry definitelycalls for a huge workforce throughout the nation.Indian financial market is one among the oldest ones in the world and with a faster rate of growth it has also entered among the best markets emerging economies.
Currently, the financial market in India is growing at a much faster pace than any other sector. It has widened itself and also organized from the 19th century with the securities exchanges in Mumbai, Ahmedabad, and Kolkata. Many Companies and organizations in today’s life are looking for specialized and expert marketers to get higher profit in a smarter way. This is because the most savvy young financial services professionals can see what’s coming.
When embarking on your career path, it’s crucial to choose a direction. Making a career in finance can lead any number of places, so before diving in, research a variety of types of jobs and think about what aspect of the industry most appeals to you.
Given the complexity of financial processes and instruments, the government’s frequently changing regulation of the finance industry, and emerging worldwide markets, education is absolutely essential for a career in finance. While many people work their way up from the entry level job they attained with only a bachelor’s, many top finance professionals got a head start in the field by earning an MBA.
To get a real rocket boost up the corporate ladder and out of the copy room, you’ll need to continue educating yourself. Specialists who keep up on the latest laws and methods through journals, conferences and professional organizations have a clear leg up when it comes to getting promoted.
Also, networking will allow you to meet people in the field and learn more about finance in general, but it will also help you create the invaluable personal connections that often drive vertical career movement.
Attending sponsored events will help you meet people at all levels of finance careers and stay abreast of current trends and news in the industry. Alumni networks are also excellent vehicles for making connections within the field.
Some popular Career in Finance include:
• MBA in Finance
• Financial Analyst
• Financial controller or director
• Manager of a finance department
• Chief Financial Officer
• Commercial or Investment Banker
• Real estate or insurance finance manager
Here is a brief of the most common opportunities to look out for a Career in Finance;
MBA in Finance: Probably the most obvious and safe selection for anybody who needs to jumpstart a career in financial services is to go for MBA. The advantage that MBA has over the other format is that it permits you a decent all-round exposure to numerous aspects of finance, accounting, cost accounting, financial modelling, and statistics and so on.
Financial Advisor: Financial advisors undergo rigorous education and training to attain the certifications and skills necessary to succeed in this career. Financial advisors help individuals make wise decisions regarding money management. They assess a person’s financial position, understand their needs and goals, and then make recommendations on how to best achieve them. Some financial advisors have diverse backgrounds and provide an array of general services, while others focus on a particular area such as retirement or tax law.Financial advisors work in a variety of settings. Many are employed by large companies focusing on investments, finance or insurance, while others choose to work at a small firm or independently.
Money Management: Money managers are an integral part of the finance industry. They typically buy and carry corporate bonds and other fixed-income investment products. Their specialization lies in small stocks, and large-cap funds. Some of the common job options include Portfolio Manager, Mutual Fund Analyst, and Hedge Fund Traders.
Financial Planning:With more and more people becoming rich and going to the millionaire club, the demand of financial planners is increasing by the day. These financial planners assist people with disposable wealth to make advance provision for financial needs that may arise in future. Just like a family doctor takes care of the biological health of the family, a financial planner ensures good financial health for a sustained period of time in present and future. To become a financial planner one has to undergo the strict training of Chartered Financial Planner (CFP) course which is currently offered in India by the Financial Planning Standards Board (FPSB) of India.
Risk Management and Insurance Planning: A person who works in this capacity is called Risk and Insurance Manager. The minimum educational qualification to be a risk manager is certificate in actuarial science or a degree in business finance.
Chartered Accountant: These are professionals who provide valuable information about financial records of a company. A chartered account is called ‘watch dog’ of a company who always tries best to save the organization from possible financial hazards if crisis occurs. These professionals also helps in financial and budget and taxation planning in a great way. To start career as chartered accountant in India one needs qualification from Institute of Chartered Accountant of India (ICAI). The institute offers course Chartered Accountancy (CA) to under graduate and graduate students. CA is professional qualification as well as post graduate qualification.
Cost & Work Accountant:These professionals are specialists in production management, service management, budgeting and financial decision making. To be a cost account in India needs certification from Institute of Cost and Work Accountants of India.
Stock Broker: A stock broker is a certified professional who buys and sells shares on behalf of investors. To be a stock broker needs sound understanding of money, market and finance. A stock broker gets work opportunities with brokerage firms.
Company Secretary: Company secretary deals with company laws. To be a company secretary needs certificate in Company Secretary ship from Institute of Company Secretaries of India (ICSI).
The financial service sector is going through the golden phase where it is experiencing astounding growth in all spheres. In the past, the sector has lagged behind, but that was in the pre-reform era, and now it has evolved and matured into a consistently growing industry with a number of high paying new financial jobs for qualified professionals. As this sector continues to expand, deserving young candidates holding appropriate knowledge and looking for a career in finance will have a diverse range of new job opportunities coming their way.
