Last updated on April 4th, 2024 at 10:26 am
Accounting and banking are two of the most popular professions among finance graduates. A banking or accounting career is lucrative, with great potential for growth.
Finance, however, has numerous opportunities that finance graduates are unaware of. With competition for banking jobs increasing, the number of finance professionals seeking careers off the beaten path is rising. Read about alternate career paths that finance professionals can pursue in this article.
9 alternate career options for finance graduates
From financial journalism to trading, here are nine alternate sectors where professionals can build a career in finance in India.
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Management Consulting
This career is made for you if you have an MBA in finance. Management consultants create solutions to business problems and oversee the overall management of the different departments of a company. Their insights help make strategic decisions and improve the company’s performance.
Management consultants need the know-how to navigate a company’s financial decisions. They create forecasting models, analyse financial data and communicate their inferences to their colleagues and employees.
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Finance Journalism
Becoming a financial journalist is a unique career path for finance graduates. A financial journalist’s role is to research events in economy and commerce and relay this information to his/her audience.
It is a great career for individuals who have an interest in the field of media and journalism. Financial journalists require verbal and written skills, along with a deep understanding of finance and commerce.
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Investment Banking
Investment banking is another career option for finance professionals. The primary role of investment bankers is to secure funding for businesses and agencies and act as financial advisors. They also oversee mergers and acquisitions on behalf of their company.
To become an investment banker, a finance professional needs to have financial modelling and analytical skills. They also require strong people skills and the ability to work well under pressure.
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Entrepreneurship
Business-minded finance professionals can choose the entrepreneurial route. They may offer their financial services on a contractual or freelance basis to multiple companies.
Finance graduates can enrol in courses such as financial analytics, big data or taxation to specialise in a specific niche. Besides financial know-how, this career path requires a go-getter mindset with excellent interpersonal skills.
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Stockbroking
A career as a stockbroker or stock trader is best for the people who like to be their own boss. They trade in bonds, shares and precious metals like gold and may work as freelancers for companies.
Being a broker is a high-risk job with the potential to have high pay-offs when done right. One has to be highly disciplined and determined to become a successful stock trader.
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Risk Management
Risk management is one of the most lucrative careers for finance and accounting graduates on this list. A risk manager formulates policies to eliminate risk and losses for his/her company and modifies existing risk management policies.
They work in various industries, including real estate, SCM, education and human resources. To become a risk manager, an individual must have a background in accounting and knowledge of the latest analytics and forecasting technologies.
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Finance Educator
If you have a knack for simplifying complex finance concepts and teaching them to others, then being an educator in the finance domain might be the job for you. As a finance professor, an individual is responsible for moulding the next generation of finance professionals.
To become a finance professor, individuals need a finance degree (master’s degree or higher) and communication and interpersonal skills. They need to be compassionate with a desire to provide the best possible education to their students.
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Actuary
Being an actuary is another alternate career option for accounting graduates. They utilise financial statistics and mathematics to gauge the impact of decisions and unforeseen events on the company. They are also crucial to the operation of insurance companies.
Actuaries require strong mathematical and analytical skills with a keen sense of business and finance. They also need communication and soft skills to interact with their clients.
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Production Management
Production management is a unique career for finance and accounting professionals passionate about the entertainment industry. Production managers look after the financial side of theatre, TV and film production. They manage payroll, create production budgets and track regular expenses.
Versatility and multi-tasking skills are a must for this fast-paced job. Some finance professionals may choose to become freelance production managers on a contractual basis.
Conclusion
Gone are the days when banking and accounting were your only options for a career in finance in India. From investment banking to production management, there is an abundance of opportunities for finance graduates.
Are you looking to pursue an exciting career in finance? If yes, then check out the Certified Investment Banking Operations Professional (CIBOP) programme by Imarticus Learning. This investment banker course covers the derivatives market, trading, and foreign exchange, helping you kickstart your dream career.
