Numbers related to the income statement, balance sheets, investment, etc. Analysing the statistical data of a company’s growth and assessing its value. Finance is an exciting place to be. It’s one of the fastest growing sectors in India with more and people entering it for the dynamic work environment and high-pay scale. Earlier when it came to the finance sector, people only related it to the safe and secure government banking jobs or an MBA graduate getting placed in an MNC.
But there is much more to it. It is providing an energetic and vigorous environment to work in with new avenues opening up. It’s offering a broad scope to individuals along with a handsome pay.
Let’s take a look at some of the trending career profiles in finance.
1) Financial Analyst- An exciting job profile which requires you to examine economic data and help you to take better decisions. These people thoroughly analyse every factor such as macroeconomic and microeconomic stages of the economy to chalk out the trend in the industry.
These analysts are often placed in consultancy firms advising their clients which consist of big corporate houses or wealthy individuals. They tell them about how to take care of their finances. They analyse their client’s goal and help them build a financial set-up on those lines to give them smart saving and investment decisions to achieve their goal.
To become a Financial Analyst, the primary requirement is to hold a graduate degree in business administration, finance, accounting or statistics. The pay scale of these analyst ranges from 4-5 lakh p.a. in the initial stages. However, doing additional courses on SAAS, Financial Modelling, etc. will increase your value in the industry.
2) Investment Banking Analyst- The most productive and exciting job profile when it comes to the finance industry. A highly demanding and strenuous task where you have to be on your toes every time. This segment of banking comes under the cap of investment and securities wherein these analyst act as a bridge between an investor and a securities issuer.
An analyst is also responsible for the merger and acquisitions of firms.
It’s a high-pressure highly-competitive work environment. Getting new clients, preparing your sales pitch, analysing the markets and taking correct investment decisions. It’s a strenuous job. You got to hold a bachelor’s degree for entering into this profession with an initial pay scale as high as 8 lakh p.a. Courses such as the CFA charter and other diploma courses in investment banking if done will boost up your career.
3) Chartered Accountants – Undoubtedly the most respected positions in the finance industry. These people are at the helm of any organisation with their strategic plans, financial models, financial budget, etc. They also indulge in audit and also act as a tax and business consultant by setting up their firms.
To become a chartered accountant, you have to pass the chartered accountancy exams which are divided into 2 phases which are sub-divided into two groups. It’s one of the harshest reviews in the world with an initial pay scale as high as 8-9 lakhs p.a.
4) Financial Services Sales Representative – It’s an exciting job profile wherein you have to provide financial advice according to customer goals and needs. You got to monitor market trends, identify and pursue potential customer leads, and meet sales goals for the various financial services.
These people have mostly placed banks or credit unions. They are sometimes placed in insurance companies and other institutions. They hold a customer-facing and should be well-versed in the various financial services which the company has got to offer. The pay scale starts with an initial offering of 8-9 lakhs. This job requires you to have excellent communication skills as you are the face of your company.
5) Tax Consultants- This is an exciting job profile in which you have to educate your clients on the various tax provisions and laws in the country. Commonly known as tax advisors or tax consultants. These people are well-versed in the different tax law, compliance, and planning. They help their clients to prepare tax returns and consult businesses and individuals with tax law strategies and its understandings.
A bachelor degree is a must to enter into this profession. People holding a Master’s Degree or a professional degree like CA etc. can also step into this. It attracts a minimum pay scale of around 4-5 lakhs p.a. Doing specialisation courses in taxation can undoubtedly help you in this field.
So, here we saw the many lucrative career options in the field of finance. So go for anyone and make a mark in this fast-growing vertical of the industrial world.