The Indian Financial market is one of the oldest in the world. It had come a long way from the 19th century, when the first securities exchanges were established in Mumbai, Ahmedabad, and Kolkata. Today, there are 23 regional securities exchanges throughout the country. Additionally, rising income is driving the demand for financial services across all income brackets. The penetration of credit, insurance, and investment is increasing in rural areas as well. According to PwC India, the finance sector will grow rapidly through 2035, driven by the government’s focus on financial inclusion and digital adoption.
In the present-day job market, there is a massive demand for skilled professionals in Finance. After all, the economy’s growth is typified by the growth of the financial sector, as it also enables the development of other sectors. In this blog, we will talk about a few promising finance jobs in India and also tell you how you can bag these roles.
Keep reading to know all about the different career options and their skill requirements.
7 Leading Jobs in Finance
Training in Financial Management is relevant for almost every type of professional. From IT practitioners and bank employees to managers and entrepreneurs, everyone can gain industry-specific skills and qualify for lucrative finance roles.
Here’s a summary of different jobs in Finance and what the employers expect in terms of educational qualification and practical competencies.
1. Financial Analyst
Financial analysts are adept in performing financial forecasting, reporting, and creating financial models. Their everyday tasks include gathering and analyzing data, organizing relevant information, and making projections and recommendations to facilitate decision-making.
Additionally, financial analysts plan the annual budgeting process, manage cash flow forecast models, conduct variance analysis, and work with other financial performance tools. Sometimes, they may be required to assist with corporate development, such as merger and acquisition opportunities. As a result, banks, financial institutions, and corporations hire for such Financial Planning & Analysis roles.
Typically, you need an academic background in a finance-related subject to pursue this career track. Entry-level positions are open to graduates from Economics, Accounting, and Statistics. However, students and professionals from other fields can also become eligible for this job with an advanced degree in Finance.
2. Treasury Manager
This job involves the management of liquidity and financial risk. The treasury department of a business focuses on optimizing the cash inflows and outflows so that adequate cash is available for day-to-day operations. They keep a close check on the long-term strategy, serving as a valuable part of in-house corporate Finance.
If you want to become a treasury professional, you should work on your quantitative and analytical skills. Postgraduate study can help refine your conceptual knowledge of technical Finance, macroeconomics, and accounting. These topics make up a majority of the questions asked during job interviews.
3. Investment Banker
Investment bankers play an advisory role in raising capital for corporations. They handle stock and bond issues, evaluate the worth of mergers and acquisitions, and arrive at the market-feasible prices for different alternatives. In some cases, they may work with the government as their client, but the responsibilities largely remain the same, i.e., to maximize the money invested and achieve the predetermined financial goals.
Investment bankers must have impeccable backgrounds in research and quantitative analysis. They should know how to calculate fundamental financial ratios and explain market events based on their client’s profitability and financial position. Over time, they build a working knowledge of deal structuring and corporate communication and advance to even higher-paying positions.
4. Credit Risk Manager
As a credit risk manager, your primary responsibility is to calculate the potential losses incurred by a financial institution in case of loan failures. This entails measuring applicable metrics and ratios, preparing risk modeling frameworks, managing data, and setting up debt payment plans. Credit risk managers and loan officers are mostly hired by mortgage companies, commercial banks, and credit unions.
5. Chief Risk Officer
These senior-level professionals work in financial firms to look out for any events that may threaten the company’s profitability or solvency. They monitor the investments, interact with the compliance department, and assess risks by applying their superior analytical skills. A good grasp of financial statements, company ratios, and long-term investment decisions comes in handy while solving day-to-day problems.
6. Financial Advisor
Financial advisors come up with short-term and long-term financial goals for their clients. They also recommend the most suitable products and services to achieve those goals. For instance, insurance advisors research insurance offerings and suggest appropriate options to individual customers related to buying life, housing, and other types of insurance. Personal finance advisors track their clients’ income and expenses, providing their services in retirement and estate planning, investments, taxes, and budgeting assistance.
Prior background in accounting or Finance is ideal for discharging duties as a financial advisor or starting a consulting firm.
7. Chief Financial Officer
The Chief Financial Officer (CFO) of a company manages the capital structure, cash flow, and future growth planning. CFOs must have in-depth knowledge of cash flow statements, cost of capital, capital budgeting techniques, measures of budgetary control, etc. These senior-level executives also manage financial teams, review the work of analysts, and make decisions about costing and technology infrastructure.
Almost every type of organization requires CFOs for streamlining the finance function. It is particularly common in the retail and commercial banking sectors.
With this, we have given you an overview of some top jobs in Finance. You can use these insights to chart out a career plan that aligns with your learning needs.
Q. How can I become an investment banker?
A. Investment banking is a highly sought-after field today and there is a lot of scope for investment bankers in today’s financial market. The bare minimum education requirement for entering into investment banking is a graduation degree. But it will only give an entry-level job in the field. The preferred education requirements are that of a Chartered Accountant (CA), a Chartered Financial Analyst (CFA), or an MBA in Finance. Other than this, there are some basic skills that are expected from an investment banker like analytical skills, mathematical skills, basic knowledge of finance and business banking, and computer skills.
Q. What are the highest paying finance jobs in India?
A. The scope of the finance sector has indeed with time and careers in the financial sector offer great opportunity for growth and higher salary. In India, there are a number of jobs in finance that pay good salaries and allow individuals to have their professional goals met. The role of a Chartered Accountant bags an average salary of INR 7-8 LPA. The job of an Investment Banker can help one earn around INR 9 LPA. Paralelly, Chief Financial Officers can earn higher packages, touching approximately INR 16 LPA on an average. There are other jobs which one can explore according to their salary expectations and their qualifications. Plus, this monetary compensation can vary according to where you are based, what organisation you work with, and how many years of experience you have.
Q. What is the benefit of doing financial management?
A. Financial management courses equip you with the core technical skills to analyse financial records, forecast economic trends, maximise profits while minimising risks, and other significant skills that boost your expertise in the area. Once you complete the course, you have the confidence to apply for your dream job in the finance sector, you have the expertise required in finance jobs, which helps you negotiate for better salary and achieve professional goals.