The global demand for professionals in finance is on the rise. Specifically, as the global economy is rising from the downtime. As it continues to recover, there are gaps being discovered by the human resource development teams, in skills requirements and expertise. Now there are finance jobs that can be found in most cities around the world, but there is a huge difference in the skill set and sector where the opportunity arises. A career in finances in most cases is considered very lucrative. A move to a new city will only be worthwhile for a financial professional if the place they plan to shift to has good opportunities, and to simply put it, you are able to increase your take-home considerably after paying off all the taxes and housing expenses.
London, Germany, Canada, Hong Kong, Japan are the most competitive countries, ideal if you are looking for a stable career in finance. The financial sectors in these cities are best, where plenty of jobs exist in the financial sector almost across all levels. For example, London has the largest financial sector in the world, Germany represents the economy in the Eurozone, as a result, it has the financial sector to set policy for the massive union of economic interest. Canada is a viable option because of the geographical advantage it presents, by being closest to the world’s largest economy. Hong Kong hires the highest number of financial professionals because of the central position in the Asian financial sector. Also, Japan’s stock market and financial sector offer a significant area of employment. The US is also the most sought-after destination for financial professionals.
For professionals, seeking a job overseas, in the financial sector, Dubai is turning out to be a lucrative option offering similar career opportunities like in the countries mentioned above. It gets you the feel of working in a truly cosmopolitan environment, with job opportunities that pay well for experienced and fresher’s equally. In Dubai’s International Financial Centre, one will find the best financial and banking services jobs.
Some common titles sought after in Dubai are Account Manager, Finance Associate, Finance Officer, Financial Analyst, Research Analyst, Relationship Manager, Financial Advisor and so on. The financial sector in Dubai will also see a rise, because of the introduction of a VAT. And the availability of employment is across verticals in the financial sector, from Asset Management, Treasury Sales, Transaction Services, Loans and so on.
Imarticus Learning in association with EY, a global leader in advisory and consultancy have together designed a comprehensive course, which is industry-aligned, called ‘The Financial Analysis Prodegree in Dubai’
With EY as its knowledge provider, the course offers an online training mode, using a practical hands-on training methodology. The Financial Analysis Prodegree covers a wide range of Financial Accounting and Statement Analysis, Financial Modelling and Valuation, Equity Research in Corporate Finance Strategy and Transaction Execution. The program also focuses on building technical and soft skills expertise in Microsoft Office, Aptitude Training, Resume Building and Interview Preparation, making an applicant Job Ready at the end of completion.
The program equips you with skills and knowledge essential for a successful career in Investment Banking, Equity Research, Corporate Finance and in Consulting and overall Financial Management.
The course is designed to match the growing demand in the Global Markets. So if you are interested in building your career overseas, specifically in Dubai, and are interested in learning Accounting, Financial Modelling, Valuation or/and Equity Research, enquire now with Imarticus Learning and build your skill set.
Many choices make decision making that more complicated. Today unlike a decade ago, there are many opportunities an individual has after college. Take a look at LinkedIn or any other networking or job placement site, and a trend is obvious where individuals move their career graphs, not only from one organisation to another but also a shift in industry, vertical and profession is very evident. Gone are the days when you had to pick a profession and stick with it for the next 30 or 40 odd years of your professional life.
A positive to this trend is that there are many opportunities available in the market for young professionals to accurately tap their talent, by taking a wise decision. The downside is, if you have a clouded vision, or if you are unable to identify the right opportunity, you might limit your growth.
One way to avoid the quandary is to understand the career options available, and closest to you and your demographic.
In India with the current scenario, Finance and Analytics are two streams that hold a lot of promise in the coming years, due to various influencing factors.
There are a few questions you can consider getting clarity on before you embark on the selection process.
Know your calling
First and foremost a young individual needs to get clarity on their own skill sets, what are you good at, what do you like, what are you passionate about, that will give you working pleasure? Don’t have broad aspirations, narrow it down by asking yourself questions until you get a definite answer. Passion cannot be the only point of consideration.
Your passion could be singing, but do you have a good voice? Or any formal training?
A skill inventory needs to be done to analyse the prerequisites and gauge the training required.
For example, do you like numbers, do you have the working flexibility with numbers? If the answer is yes then that is a starting point.
To pursue a career in finance you don’t need to be an expert in numbers, the process can be trained skills can be acquired, in fact, you can do law and still be a legal advisor in the field of finance.
Similarly, if your answer is no to numbers, but you have a keen sense of observation, and a fair understanding or flexibility in working with data, then becoming a data analyst with some fair amount of training can also be considered as a career option.
Mental Stock Taking:
There are two types of professional personalities.
Promotion-focused individuals, they are the creative types, entrepreneurs, quick working, opportunist.
Prevention Focused Individuals, opposite of the above, basically people who prefer to maintain their status quo.
One needs both the qualities to succeed, but it is important to realise which direction your personality sways mostly towards.
Say you are looking to pursue a career in the field of finance, and after watching movies like Wallstreet you want to be an investment banker. But your personality is more like that of a prevention-focused individual, then maybe pursuing your career as a Financial Analyst is recommended. Similarly, the field of analytics also offers a variety of titles based on your efficiency, either as an innovator or an individual contributor.
It is believed that you need to invest 10,000 hours into a profession to succeed or become an expert in it. Hence taking a decision based on what others think about your capabilities is not the best advice. After all, you will need to invest about 3.5 years to hit the target of 10,000 hours, so if your interest is elsewhere, then it will be an impossible and excruciating task.
Consider factors like:
What lifestyle do you prefer, what is a success according to you, what atmosphere you think you will strive in, what kind of money will make you happy at each phase of your work lifecycle. Where do you want to live? after all your choice is also highly dependent on the demography.
To seek accurate answers, or to develop skill sets consider associating with a facility which offers both finance and analytics career options to get unbiased advice and training and recruitment support. Such facilities have expert career counselors who know the market trends and are networked to offer you advice and help survive in the industry of your choice.
In the modern scenario, your work and personal life are inseparable. You will see people from finance enter the analytics world and vice versa. Hence you are never stuck, but it becomes very important to start right. Therefore, in the field of finance and Accounts there are many options, become self-aware and take the right guidance and choose the right path.
The Financial Services industry is without a doubt seeing the effect of innovation driven change either straightforwardly to their plans of action (for both customer and business customers) or even as an optional or tertiary effect, given it’s at the center of all different ventures. While these organizations have made a tolerable showing with regards to by and large of receiving more current and propelled advancements, they clearly need to get a move on of appropriation or hazard losing piece of the overall industry to the freshest participants – or more terrible, getting to be noticeably out of date.
The most recent influx of development and technology is about versatility. The web based keeping money and financier encounter has now moved onto your telephone which upgrades accommodation on many levels.
Banking and Investment applications would now be able to connect into your telephone’s GPS to give you area based data, for example, closest ABMs and branches.
Versatile and remote advances are a greater amount of a development in my psyche as they haven’t radically changed the market as much as past developments.
Remote installment innovation over RFID (Visa Pay Wave, MasterCard Pay Pass) is up to twice as quick as utilizing money or check cards. Charges won’t be dropping but rather buyers are getting back another extremely significant ware, time.
The normal retail Investment Banker or Financial Analyst won’t think excessively about how quick their exchanges are executed however dealers, institutional speculators and mutual funds do.
Executing exchanges a couple of milliseconds quicker on a trade can have a major effect when you are doing thousands or even a huge number of exchanges a day.
Getting the most ideal cost for your customers encourages them spare cash while it will also facilitate those who are putting the exchanges, they will get more business. There are different contentions that fast exchanging can prompt higher expenses for speculators nonetheless.
Fiber optic interchanges, quick figuring force and reason manufactured applications all add to executing exchanges rapidly.
While the pace of innovation change in the budgetary division may be ease back in respect to different regions, despite everything it has an extremely critical effect.
Regardless of whether we understand it or not, advancements in innovation for the managing an account segment influence us consistently.
To stay in the lead, money related and finance administrations associations must acknowledge and adjust to the way that the client base they serve is experiencing a noteworthy move as far as purchasing practices and inclinations, a lot of which is being driven by the computerized innovation transformation, especially online networking and portable. Era Y, for instance, needs more decision and control by the way they interface with a bank or insurance agency, regardless of whether it act naturally coordinated, web drove, individual to-individual, on the telephone or in an office. Accordingly, organizations must change their customary models and items to benefit this developing and evolving client
Becoming a Doctor, Lawyer or an Engineer requires hours of dedicated approach and clarity of thought for application. The effort is very similar to what it takes to become a professional in foreign exchange. Just like to work in any professional capacity, you need to dedicate time in honing the skills, it is the same prerequisite for becoming a Foreign Exchange broker. It requires the same amount of dedication and skills to ensure you not only understand trading but also are tremendously successful in it. If thoughts are applied correctly it is guaranteed that you will rise and perhaps be equally profitable.
Since you will become an individual contributor in this setup, you need to have a strong sense of determination and discipline, along with another array of personal and professional attributes, and technical skill sets. Not taking a stalk of your current strengths, and areas of improvement, and hastily jumping into the profession, with a grandeur sense of success, will guarantee failure and loss of capital.
Here are some broadly classified steps to consider before you plan to become a Foreign Exchange Professional:
Be true to oneself and practice and Learn the Trade
Becoming a successful trader will take a lot of effort, courage and time from your end and there is also a considerable amount of risk that you will need to take from time to time. Drive, passion and ambition is the true essence of trading. Trading will not make you a millionaire overnight, initial profits as a mark of success is not the right vision to have. You need to exercise risk control and have a keen observation to spot trends. As a trader, you need to accept that there will be losses, and you cannot make back all the losses on one single trade.
Using a demo account, that is trading in live markets with monopoly money, will help you develop your own style and trading ideas. It is a good idea to become an apprentice to a professional trader or research on the subject. It is a daunting task until you get a hang of it, so take all the support that you can.
Learn the Basics of Trading – Then Develop a Trading Strategy
It is important that you have a clear vision. And that is only possible when you have a strong foundation, the basic introductory concepts of trading. Once you have understood how the forex market functions, it is time to develop your style of trading, a strategy. Now there are many ways you can trade in the market, however, if you need to be an expert in reading raw and natural price dynamics of a market, forex price action strategy is recommended. It will help you develop chart reading skills that will go a long way. It is basically you, who will choose how to proceed with the strategy of your comfort.
Become a Successful Trader
Once you start trading life, points to remember…
• To avoid failure set stop losses on every trade
• Always stick to your trading strategy
• Have a risk margin of not more that 2% on every trade
• Do not get emotionally influenced on a trade
• Trading with the mindset to recover losses is a vicious circle stay away from it
• Trust your instincts
• Don’t be vary of losses, the most successful traders also face it
• Have a target to achieve more profitable trades, than the one with losses
The above are but a few tips that might help you trade successfully. Be aware that this is a very daunting path, and one cannot confirm success or failure until you invest years of hard work, face loads of stress, but stay determined. With effort and passion, drive and patience you will cross over to greener pastures.
There is a certain glamour attached to the job of a Financial Analyst, it is a vital part of strategizing within any organisation. They are the ones who guard the secrets of the given organisation, and with all the data and analysis, they are able to guide establishments in making the right decisions.
Any profile of a financial analyst will have to be relevant in three areas, Education, Experience and Professional Credentials. Education could be either from finance or any other field with related certifications like CFA. Experience depends on what the organisation is looking for I.e., a junior or senior analyst. And lastly, Professional Credentials will be the knowledge you have in the given field or role.
Here are the tips for cracking Financial Analyst Interview
Understand the position
Before one gets into what to expect, you, as a candidate need to be clear about the position you are applying for, financial analyst could mean different things in different organisations hence you need to read the job description of the organisation you are applying into, and understand the role responsibilities in detail before you face the interview.
Prepare for the Interview
Every organisation which is hiring, after the initial screening will like to understand if an applicant has the right skills to excel in the given role.
To assess the same, an interview will most often revolve around three stages,
(I) Experiential Situation (II) Specific Role Based Questions & (III) Behavioural Questions.
An interviewer could start the interview in any format, from behavioural to technical or vice versa. Your handy tool will be to prepare and anticipate the questions.
A detailed research on the interviewer and the organisation that they represent will be one factor that might or will differentiate you from the pack.
There are specific answers and feelers that the HR and the process owners need to get from an applicant while considering to fill the position.
Behind every stage of an interview, the questions are asked to get an insight of a candidate’s ability and overall talent that they promise to bring to the role.
Read on to understand….
- An interviewer is trying to gauge your reaction in a given situation. Today, an expectation from a financial analyst is to be good at marketing, along with other technical skills, yes! That is right, building a great strategy is wonderful, however, if you are unable to communicate the benefits to the non–technical audience, the battle is only half won.
- Not only communication skills but, persuasion and passion for your job are what is being examined here. Efficiency in thought, ability to come up with valid approaches is what the interviewer is looking for. Remember, there are no right or wrong answers here, it is how you are able to convey what you are saying is right, that matters.
- The more you marry your answers to, financial, logic and technical skills, the more your theory will have an impact.
Specific Role Based Questions
- This is the part of the interview where you need to throw some serious financial jargons and explain the relevant financial methods, into explaining how and why certain reports need to be generated.
- Brush up your financial skills, review all the application areas, and try to make a case study of whatever information you can gather about the organisation, through research. There is nothing more impressive than you are linking the company’s situation as an example in answering questions
- Certain interviews would also give case studies, hence ensure that you know the technology you apply to your financial analysis. Practice concepts of actual financial statements.
- You need to be clear on the headers you should look at while explaining a report. Clarity in financial fundamentals and ratios should be maintained while answering questions.
- Also linking your answers with similar projects you have done in the past or read up about would be great.
- Lastly, an interviewer is also looking at the excel and technical proficiency in generating appropriate reports. After all, a major portion of your time will be spent doing repeated procedures.
- The question here is generally based on understanding if your practical knowledge matches what is mentioned in the CV. maintain congruence in what you say.
- Questions in this category are basically to understand your personality. Speak about your career goals and personally how do you see yourself grow in the role while working for this particular company.
- Focus on your positivity, on how you handle failures or missed deadlines, flexibility in working as an individual contributor or with a team, commitment to putting in long hours etc…,
- Speak about your success, from failures in particular, which shows patience, maturity and resilience.
Look Sharp, Confident, and let your skills speak for themselves!
It seems that the sector of financial technology, which was touted as many as the new kid on the block, has had a fair share of failures. Some of the big guns in this field including OnDeck and Lending Club have reportedly experienced some mighty losses and organisations like CAN Capital stopped lending altogether. There seem to be a lot of experts and industry pundits, who are all of the collective opinion that “the bloom is finally coming off the rose.” This happens to be a figurative telling of the certain bumps and losses incurred by this field. But a majority are still siding with the silver lining and it may seem that this sector might really be thriving. The recent events are not news for the FinTech industry, which is because every single industry undergoes them. Regardless of whichever sector it is, the market leaders usually happen to jump to an advantage.
But a majority are still siding with the silver lining and it may seem that this sector might really be thriving. The recent events are not news for the FinTech industry, which is because every single industry undergoes them. Regardless of whichever sector it is, the market leaders usually happen to jump to an advantage, thus leading to the growth of the industry. Now, that the industry grows, it also multiplies the number of players entering into
the market space. Some players happen to participate in the distinct competition as their ventures grow and as is the case, some players cannot really make it. It’s the most basic rules of capitalism, where although all entrepreneurs take risks, some may succeed while other may miss the mark.
FinTech is most likely thriving mainly because it happened to extend its capital access, to almost everyone. Per say, there were no discriminations whatsoever as minorities, women, immigrants and all the others who were under served, were provided with a level playing field by technology. This could not have been a plausible scenario a few decades ago when one could meet a venture capitalist at a cocktail party and get themselves a six figure financing deal. While people who were natives and higher up on the societal runs totally got to benefit from this, those of lesser economic means always struck out.
But today with technology advancing, lenders are able to have accurate data about their potential borrowers. This way the risk factor goes really down and efficiency increases. Similarly, FinTech has begun to take India by storm, by revolutionizing the electronics payment industry. It cannot be denied that banks are slow when adapting to change which is why it takes a while for FinTech companies to break into the market. But another thing working in favour of this sector is that the investors have short-term goals, thereby they’d want to quicken the process of things while expecting quarterly results.
But most important of all, we cannot overlook the fact that technology has transformed the banking sector thoroughly. Today it is actually possible for a person to never step inside a bank to carry on their personal transactions. We happen to live in a time where you can actually accomplish everything at the click of a button. With large banking corporations investing in technology to make most of their application processes to go online, there is a sure chance of FinTech not only thriving, but becoming a flourishing business. Many finance aspirants have noticed this and have begun to learn the ropes by taking up training programs, offered by professional training institutes like Imarticus Learning.
Imarticus Learning teams up with leading Global FinTech players to bring to you a first-of-its-kind Global FinTech Symposium. FinTech, or simply put, Financial Technology, is an industry composed of start-ups and established companies trying to replace or disrupt traditional financial processes with the use of technology.
This is an upcoming industry and has the potential to impact every single person and therefore makes it one of the fastest growing areas for venture capitalists. We welcome you to join this FinTech consortium where our panelists from global organizations will share their journey and experience on what it takes to excel in the world of FinTech.
by Reshma Krishnan
One of the most common questions we get asked by MBA students is, ‘Why should I do this course? I have learnt everything I need to in my MBA.’ This is when I tell them about Amal Kothari. Amal did his MBA at Kellogg Business School, currently ranked number three in America and the best part time MBA school in the world. Yet, he still came to us to learn how to model. But he went to Kellogg you say! Why did he need a short-term course in Financial Modelling?. Because they don’t teach you how to do something at MBA school. They teach you the theory and cases where you apply the theory, but they expect you to solve most of the problems by yourself. So if you’re doing something like Financial Analysis or Corporate Strategy, they expect you to learn how to model out a problem and support your analysis. But they don’t teach you HOW to do it. Why? Because there is no time. An MBA, as it’s name suggests is a general study in administration. While they do let you specialize in something and some schools have focus areas they are known for, like Wharton for Finance and Kellogg for Marketing, the first half of your study is a general introduction to Economics, Accounting, Marketing, Business, Corporate Finance, logistics and Strategy. The second half is specialization, where you hone your understanding and get a deeper understanding of your subject. So why does a short course after help? Here are some reasons-
• Curriculum focused on concepts not skills – if you check every elective or course list of an MBA school, you will see Corporate Finance and Portfolio Management. You will not see Financial Modelling or Excel for Financial modeling. Why? Because Financial Modelling is a skill set they either expect you to have, or develop when you do the assignments. No one in MBA school is going to teach you how to use V look up or create spinners in a model. That’s because.
• Time: For most part each one lecture is devoted to a concept like Time Value of money or Relative Valuation. In fact, it’s not even as specific as that. I don’t even recall studying valuation the way I teach it at our FMVC course because again, MBA’s are not specific. They are general and focus on conceptual understanding and applying concepts to real life. They focus on analysis, not on skill building, because there is no time.
• Hand holding- Short Term courses, while short are intense in that they focus on specific skills. For instance, in MBA school you will spend half an hour on Forecasting. In a short term course, you will spend 5 hours learning how to forecast, then be shown how to do it in an excel document, and then have someone supervise you As you do it. This ensures learning and makes you attractive in the job market.
MBA’s and Short Term courses are not mutually exclusive. In fact, if anything, they work well together. The first ensures you have a broad knowledge of everything related to business administration while the latter ensures you have a thorough understanding of your specialization, be it SAS or Financial Modelling. Both add value to the resume and the combination makes you stand out from the crowd because the short term course makes you Job Ready.
The 21st century has witnessed a great many revolutionary changes in every sphere of the humankind’s existence. Education is one field, which has experienced quite a few changes in terms of how people perceive it, especially in the professional sphere of things. There has been a subtle move from classic courses to the more advanced and specialized courses, offering a candidate with a specific set of skills. The importance of more general educational programs, which dealt with a more holistic development has been ebbing away gradually. These are rapidly being replaced with more specific, specialization finance courses, which are bound to give you the proper foundation, which a lot of HR Managers are looking for in today’s day and age. With a lot of importance being laid upon the soft skills and industry relevant, technical skills, the importance of these courses is multiplied.
This applies to every single field out there. When it comes to the uber-challenging field of Finance, general programs like the management programs are very holistic in nature, which basically results in them being very general. On the other hand, there are various specialization programs in finance offered by institutes, which are very intensive in nature as well as highly focused on imparting specific knowledge.
Imarticus Learning is a pioneers in offering such industry endorsed specialization courses, which are backed with experimental learning as well driver by experts from the industry. One thing is certain, that these courses especially in the field of Finance are definitely here to stay and will only grow in popularity soon. Corporate Finance, Investment Banking, Wealth Management, Portfolio Management, Financial Modelling, Chartered Accountants and various other branches have their own set of specialization courses, all of which are a mandate for any financial professional out there.
There are two courses in Finance, which show full potential of becoming the most demanded ones in the near future.
These are as follows:
1. Chartered Financial Analyst
The CFA is considered to be the most prestigious credential, offered by the CFA Institute for professionals, working in the fields of Investment and Finance. Any candidate who successfully completes this program, is then awarded the CFA Charter and is known as a Charter Holder then on. This designation has become the most respected and recognised one in the field of Investment Banking mainly because of its curriculum, which deals with all the concepts and skills, which one would need at various stages of their career. With employers and firms everyone beginning to recognize this designation, as a yardstick to measure the competence and integrity of a professional, this course is definitely going to be in great demand in the near future. A lot of institutes including Imarticus Learning offer great courses to crack the CFA exam.
2. Corporate Finance Courses
The Corporate Finance Courses are slowly becoming the most sought after ones, by all the finance aspirants. This is one field which constitutes of various techniques, decisions and activities that deal with the numerous aspects of firm’s financial standing. If we speak in broad terms, everything related to the operations in a business, falls under the category of corporate finance. The challenging nature of the field and the many benefits offered here, have begun to attract a lot of finance aspirants
Both these designations have just about begun to get their deserved recognition and would only increase in demand in the near future, for all the finance aspirants.
To know more about finance courses call us on 02261419595/9181086 00055
By Reshma Krishnan
Many aspiring candidates ask us what is so special about the FMVC program at Imarticus Learning. After all, shouldn’t an MBA suffice? The problem with MBA’s, regardless of which school you go to, is that they don’t teach you role specific issues. For instance, they don’t have specific modeling modules. They will have a forecasting module but they won’t teach you how to model or how to forecast step by step. In the Financial Modelling and Valuation Course (FMVC), India’s leading Forecasting and Financial Modeling program, we teach you the minutae and we go into specifics. One such specific is modeling and forecasting hygiene.
Hard Coding- the model users bane.
This is the first thing I teach in modeling class. Hard Coding is essentially a stand alone number in a cell, which has no back up. It says nothing about the number. You must never hard code a forecasted number because the forecast is always done on the back of an assumption, which has to be modeled in. Hard coded numbers are usually past data, actual data that has been verified and been the result of auditing. A forecasted number should always be a linked number from an assumption.
Staying with hard coded numbers, it always helps to colour code. In fact, in my class, I mark an assignment zero if it is not colour coded. Red hardcoded number tells me that the forecaster had no option but to hard code. All actuals should be in a different colour to forecasts and all delta numbers, that is the variable you are using to arrive at a forecast needs to also be in a different number.
Give the delta its own cell
Let’s say you want to increase the sale of pencils in 2017 by 10% from 2016. You have two ways to do it.
=(2016 revenue cell) x 10% +(2016 revenue cell) = 2017 revenue.
You create a special cell for 10%
= ((2016 revenue cell) x (10% cell) )+(2016 revenue cell) = 2017 revenue.
Here I am assuming that revenue is growing by 10% . This helps me change the delta as I see fit which then changes my model. The delta is the rational for my model. If you hide it within a formula, I have to constantly look at formulas to find my assumptions.
Learn more about Forecasting by joining our course, FMVC,Financial Modeling and Valuation Course, India’s leading program in Financial Modeling and Valuation and focused on improving your chances on having a career in Investment Banking or Equity Research.
Follow Us On Social Media