Careers in Finance

What is Finance?

The real meaning of Finance may be money but in actual Study of Finance and the different manner where an individuals or a company distribute, raise and utilize the resources of capital for a longer period of time, keep in mind the risks involved in any particular project.

Thus, in brief Finance incorporates:

  • Majorly, the Study of money and other assets.
  • Secondly, the managing and controlling of those capitals involved in any

particular project, along with managing and profiling project risks

  • Lastly, the science of managing money

Importance of Finance Management:

  • A finance activity is the application of a group of systems that an individual and companies use to manage their money, specifically the differences between income and expenditure and the risks of their investments and this is the backbone of growth.
  • Over the years finance has become a booming career resource throughout the globe. Financial Management capitulate a number of job options.

So, let's consider the various careers in finance available for an individual

Career options in Finance

Corporate Finance

A career option in corporate finance would need you to assist the flow of money for a company in order to

  • Run the company
  • Nurture the business
  • Make acquisitions
  • Plan for its future etc.
  • You may work in a large MNC or a small sized growing player.
  • In Corporate Finance, your analytical skills will be put to test although job options in this field are found to be more stable, though in this area of job performance matters a lot.
  • The jobs in corporate sector are a bit advantageous as you generally work in teams and thus a lot of fun to tackle business problems that really matter.
  • There would be opportunities to travel and also pay is extremely good.

Financial Planning:

  • Financial planning is fields wherein you help individuals map their futures of finance.
  • On their retirement needs, for studies of the children. This Job is can be professionally and personally rewarding but needs brilliant interpersonal skills and should be a good listener.
  • A expert financial-planner would be having understanding about investments, estate planning issues, taxes.
  • Many Finance planners try for individual work or practices within smaller sphere.
  • Increasingly, you need to have designation of Certified Financial Planner or shortly (CFP).

Commercial Banking

  • Banking services to individuals, small businesses and large organizations is generally the scope of Commercial Bankers.
  • A lot of people are engaged in the commercial banking sector in comparison to other finance sectors.
  • Jobs in banking can be exciting and provide outstanding prospect to learn.
  • You may start at the branch level then would turn to a wide variety of other services such as leasing, credit card banking, international finance and trade credit.

Investment Banking

  • Governments issue as well as companies,
  • Different types of securities
  • Gives aids for securities of investors purchase
  • Help to manage financial assets as well as trade securities
  • Give consultation for finance
  • In many firms related to this, there is trading and sales

Money Management

  • If you are interested in looking beyond numbers or analyzing market trends, or like knowing about the ups and downs of stock then choose money management as your best suited career.
  • Money manager is the person who holds bonds and stocks in order to satisfy the need of institutional clients
  • You must be accommodating to conceive beat even if at times an investment does not go with you.
  • It is difficult be employed for the topmost mutual fund company or renowned money managers , It is better to start with state and local pension funds, bank trust department, and in insurance companies.
  • Before you start searching jobs in the area, it is necessary to
    • gather knowledge about investments on fixed income,
    • take the CFA exam

Real Estate

  • Nowadays, Over 1/3 of the wealth of the globe is engaged in real estate.
  • Real estate is guarantee for a large amount of financial assets as well as mortgages.
  • As important this field might be but one needs to have the real interest. Remember that Real estate experts are assembled to the expansion of the society directly and systematically and they also play a big hand in those problem-solving which will figure the manner we should live in future.
  • Working with real estate is generally ever-changing rewarding and challenging.

Insurance

  • The hottest jobs these days through out are of Insurance which is nowadays a trillion dollar business.
  • As the ages and wealth is increasing in people, the requirement for insurance professionals is also increasing noticeably.
  • Insurance jobs engage work of helping an individual and companies to administer risk to guard themselves from any kind of devastating losses
  • It also helps to look forward to latent risk problems.
  • There can be numerous opportunities in variety of areas in insurance like:
    • Underwriter
    • A sales representative
    • An asset manager
    • A customer service representative
    • An actuary.
  • Insurance agents are often termed as the middlemen who stand for their insurance company and come within reach of potential clients to sell the insurance policies.
  • This is again a very lucrative field and needs good interpersonal skills.

Eligibility

We have spoken about different Sectors of Finance. In the end we are giving the education qualification that is required for different Careers options in Finance (depend upon the career option)

  • MBA / PG/PGD in Finance
  • Chartered Accountant (C.A)
  • CFA
  • B.Com

To have a successful career in finance just a financial degree will not work wonders although that would help you creating a base but a good analytical mind, understanding of the economy and markets, a proclivity for numbers and financial trends etc would be the most vital assets to be a good finance professional.