Finance Industry-Careers

Options in Finance in India: Top Careers that Play With Numbers

If the finance industry intrigues you, and terms such as stocks, securities, and investment mediums ignite a fire in you, then a career in finance is worth considering!

The finance industry offers a diverse range of career options to professionals as well as beginners who possess the right skill sets. The financial services are multifaceted with various sub-categories. The key to an individual’s success is to discover a career that provides them with the perfect blend of pursuing a career that they are passionate about and one that utilises their skills.

It’s important to assess the requirements for a particular job in the industry. With this in mind, let’s take a look at the different finance careers that you can opt for. 

Top Career Options in Finance in India

1. Investment Banking

If you wish to follow in the footsteps of one of the most successful and thriving investors such as Mr. Warren Buffet, investment banking may be the right career option for you.

Investment banking is recognized as one of the most prestigious career options you can find in the finance industry, particularly from a salary perspective. So, if you choose this as a career, you’re definitely going to rake in some cash!

In this position, you’ll be working on the financial remodelling of various business operations in an organization. It is an apt role for someone who enjoys challenges and spotting trends in data and numbers, to make calculated decisions. However, be prepared to work for long hours because the job of an investment banker may prove to be pretty exhausting, especially for entry-level positions.

If you want to land a position as an investment banker, then you must focus on networking. Big investment banks hire prospective associates from top business institutions and appoint interns who have previously served with them.

How to become an Investment Banker in India:

At the entry-level, an analyst requires a bachelor’s degree in finance. However, a degree in Master of Business Administration (MBA) with a specialisation in Finance is the most common among investment bankers. Other graduate degrees such as Law can also be beneficial.

2. Corporate Finance

If you’ve got a knack for numbers and enjoy budgeting to maximize the use of your money, then corporate finance could possibly be the best-fit option for you!

In the field of corporate finance, there are several roles that you can take depending on your interests, education qualifications, and also the company with which you would be working.

Usually, companies hire corporate finance professionals to include them in the company’s internal operations to allocate, invest, and save their money. The hired candidates are expected to offer guidance and advice on increasing or decreasing the number of employees and device a comprehensive plan as to how to strategically reduce the company’s total operational expenses.

Instances for the company’s ROI (Return On Investment) are also studied and analyzed with the aim of maximizing on returns and minimizing on investments. The job profile of a corporate financer is suitable for you if handling money and coming up with smart solutions to manage the money is a challenge you enjoy.

How to Build a Career in Corporate Finance in India:

Corporate Finance advisors expedite the mergers and acquisitions of businesses and generally work under big corporate advisory firms or investment banks. To pursue a career in corporate finance, aspirants can get a bachelor’s degree in Finance or related fields, and get a post-graduate MBA degree in Finance. 

3. Public Accounting

Accounting comprises of a variety of services for businesses as well as private entities. Similar to people with careers in corporate finance, a public accountant maintains and records the outgoing and incoming money flow for a company. You are also responsible for delivering suggestions and reports to decrease spending and boost revenue.

Accountants operate as auditors and work in-house to help companies obtain an overview of how sound their investments and finances are in order to make projections to reach long-term goals.

For a public accountant, there will never be a lack of clients from commercial as well as the private sector. However, people favouring finance careers in accounting usually end up serving with giant accounting firms or get employed by a corporation to work in-house.

How to become a Public Accountant in India:

A bachelor’s degree in Commerce or in Business Administration with a specialisation in Accounting is a good starting point after which aspirants can complete their Certified Public Accountant (CPA) qualification, which is recognised internationally to become a licenced accountant. One can also couple their CPA certification with an MBA in Finance or a master’s degree in Commerce.

4. Portfolio Management

Portfolio management is a beautiful amalgamation of commerce and science. So if you’re someone who favours both the subjects, you’re in for some luck!

A portfolio is an overall look at the status of the investments made by a client or company, without going into depth over each individual investment. A career in portfolio management will let you make decisions about the investment policies of an organization, while simultaneously allocating assets for institutions and individuals to match their needs.

Management of a company’s portfolio is all about discovering their opportunities, strengths, weaknesses, and threats in the domestic and international markets across diverse areas such as debt vs. equity and growth vs. safety to maximize profits at a negotiated risk.

How to become a Portfolio Manager in India:

You can start a career in portfolio management with a bachelor’s degree in finance-related disciplines such as Economics, Accounting or Business Administration. Education in high-level Mathematics and Statistics are also recommended. A master’s degree in Economics or an MBA may also be required in some companies to pursue the job role of a portfolio manager.

5. Financial Planning

Are you a perfectionist when it comes to planning your finances? You may love going for a career in financial planning as well! Planners help companies and individuals formulate strategies that will secure their future as well as ensure current financial stability.

In financial planning, you will get to review a customer’s financial plans and create a suitable method for investing and saving that suits their individual needs. The plan can concentrate on various aspects such as investment growth, wealth preservation or tax planning. Most financial planners work in either comprehensive organizations or privately-held firms.

How to become a Financial Planner in India:

A bachelor’s degree in Commerce, Finance, Business Administration or Economics is the minimum education requirement for financial managers, which can be followed up with a master’s degree in the same subjects. The Certified Financial Planner (CFP) qualification is important to build a career in financial planning, and is recognised internationally.

6. Stock Broking

Similar to investment banking, stock broking is a highly respected and lucrative career option after studying finance. Stocks, or small shares in companies sold by the corporation, are a popular (albeit slightly risky) investment option with a potential to earn hefty sums.

To mitigate the risks involved, a stockbroker carefully studies the stocks and stock market conditions to advise clients on which stocks they should buy to suit their needs. The work of a stockbroker involves careful analytical skills, statistical capability and general knowledge of the functioning of a stock market.

How to become a Stockbroker in India:

To become a stockbroker, you can pursue a bachelor’s degree in Commerce, Economics, Statistics or Maths, after which you can pursue a master’s degree in Finance. For stock market-specific training, there are several short-term and diploma courses on stock broking, stock analysis, and stock market research. The National Stock Exchange (NSE) of India also offers several courses that will help you get an edge into the field.

7. Risk Management

Firms must minimize their risk by strategically maximizing returns through increased investment. This is where a competent skill to manage risk plays a vital role. Risk management professionals are perfectly-skilled to give consultations based on the overview of market risk and the likelihood of recognising a bad investment outcome.

They further use mathematical reasoning to advise their clients to ensure their business model are defined within the mission and vision of the company. The risk management profession is tailor-made for you if you find interest in mathematics and statistics.

  

How to Build a Career in Risk Management in India:

Aspiring risk management professionals are advised to pursue a bachelor’s degree in Risk Management. It is widely considered and observed that those who hold an additional MBA as their master’s degree enjoy preference from recruiters. Aspirants can take various business courses alongside specialized training in risk management courses.

Summing Up

Many financial positions require different abilities and present complex work conditions, thus, it is vital to choose one that aligns with your long-term goals and aspirations. For instance, if you have substantial interpersonal skills, you may do well as a financial advisor, and if you enjoy working with numbers, then you may do exceptional work in public accounting.

So, research your options and discover the best way to take it forward. The time you spend on choosing the right career path for yourself can help you save time and work in a position that truly fits you well.

With courtesy to Sarvpreet KaurFebruary 11, 2019