Career in Finance Management
Today, when corporate finance has moved from domestic funding, the nature of financial control has changed from simple accounting to integrated control systems. This control system is based on enterprise resource planning. To manage such financial transactions a new category of financial whiz kids have sprung up, popularly known as Fund Managers and Equity Analysts.
The scope for growth in the financial service sector is enormous, because this section is directly linked to the growth of the country’s Economy. And India’s Economy is stated to grow by about 8% in the next decade. It’s not only about India but international trade sector also offers considerable opportunities.
The areas include International Financing, Multi – Currency – Trading, Arranging Swaps, International Lease Financing etc. Job in corporate finance essentially entails helping a company find more money to run business and grow, plan for its financial future manage, all liquidity at hand may be make a few acquisitions. It also involves working for a large multinational company or a smaller player with high growth prospects. If you have the requisite skills and are able to prove your worth in problem solving, you can grow very fast in the organization.
You can also work as a financial planner, where you can help individuals plan their financial futures. Though this kind of work calls for greater inter – personal skills, many people believe that it is more rewarding both personally and financially. A good financial planner must be a good listener. Generally most planners work independently or work within smaller practices.
To start with in this career, a bachelor’s degree in Economics or commerce is required. But if you want to progress faster than you should have a higher – level finance degree. The most advisable course is to take a postgraduate degree in Charted Financial Analysis combined with an MBA degree, specializing in finance and marketing. Or you could pursue a course from professional institutes like the institute of Chartered Financial Analysts of Indian (ICFAI), Indian Institute of Finance and often who offer Courses in Chartered Accountancy, Cost and Management Accountancy or Company Secretryship.
Majority of the institutes conduct courses like Management of Business, Finance, Certified Public Accountant, Certified Treasury Manager, Certeified Inventory Manager, Certified Risk and Insurance Manager, Fellow Programmer in Finance, Basic Business Finance and Short – Term Management Development Programs. From an entry level position one can rise to become the Chief Financial Officer ( CFO ) / Director ( Finance ) in a very Short Time, Depending, of Course, on Organizational Culture and Structure.
However,to sustain this growth there is a need to keep updating the knowledge through keeping track of the laws and byelaws, apart from the new financial products that are added almost daily. Simultaneous brushing up of your marketing abilities will take you places. Since this is a relatively new field, the opportunities in this field are tremendous.
A student trained in financial management can draw anything between 10,000 – 40,000 per month. Senior professionals can even draw 1.5 lakh per month.