Career in Finance- Scope, Jobs, Salary, Skills Required

Career in Finance- Finance is a wide term of policy. It is the management of a huge amount of money. Finance tells us how and where they should invest money. It acts as a commercial activity which provides funds, credit, and extra activity to the government, company and person. The main purpose of finance is to save and put forward the money, it also manages the risk in companies and individuals life as well. Finance is not all about accounting and taxation, it is beyond the breadth of finance.

Commonly, the finance section is divided into three categories- First is Personal Finance, second is Corporate Finance and third is Public Finance. Some of the main functions of the above class are the same such as – banking, investing, getting loans and funds. Every company has to need a financial expert who maintains the balance of the capital. Students who want to make a career in this field, they need to take admission in an academy to adequate financial services in the company. 

What is Finance?

Finance is defined as financial protection of the risks of the companies, government and a self. It is a large spectrum of commercial activity. Finance plays the same role in every field but in a different way. Lending, borrowing, saving, budgeting and forecasting are the major aspects of finance. 

Future Scope in Finance

Finance is an exponentially spread system. There are several opportunities to make a career in finance. Several specialised fields have made growth in itself within a few years. Candidates can make a career in certain areas of finance which is mentioned below. 

  • Financial Advisor
  • Private Equity 
  • Investment Banking
  • Credit Risk Management
  • Treasury
  • Chief Financial Officer
  • Cash Manager
  • Derivatives Structuring 
  • Fund Management
  • Risk Managers 
  • Public Accounting
  • Corporate Finance 
  • Portfolio Management
  • Stock Broking 

Career in Finance- Eligibility Criteria

Candidates who passed higher secondary can choose bachelor’s finance course and those who are graduate or Masters in M.Com. They can also apply for several jobs such as stock market and finance-related private or government companies. The MBA course is the best way to get prominent jobs in the finance fields. You would also be able to set up your own business. Before taking admission in MBA colleges candidates will have to qualify the entrance exam such as CA, MAT, SNAP and so on. In MBA it also requires the knowledge of Maths which can be your saving grace. 

Finance- MBA Institutes in India

Some of India’s prime MBA colleges to take up finance courses. Candidates can excel in their careers in finance. After completing MBA from these below-listed colleges you can get placement in prime companies with a handsome salary. 

  • Narsee Monjee Institute of Management Studies, Mumbai 
  • SP Jain Institute of Management & Research,  Mumbai 
  • KJ Somaiya Institute of Management Studies & Research, Mumbai 
  • Lal Bahadur Shastri Institute of Management, Delhi/NCR 
  • Xavier Institute of Social Service (XISS), Ranchi 
  • International School of Business & Media (ISB&M), Pune
  • National Institute of Bank Management, Pune 
  • Institute of Public Enterprise (IPE),  Hyderabad 
  • SCMS School of Business, Kochi 
  • MIT School of Business,  Pune 

Finance: MBA Course Fees

We have shared fees configuration of some of the prime institutes with their entrance exams. Candidates can go for these MBA colleges for their better future.

      Institutes name  Course Fee  MBA Entrance Exams 
Woxsen University, Hyderabad  Rs. 10.6 – 12.9 lakh  CAT, CMAT, MAT, XAT, NMAT 
Indian Institute of Management (IIM), Lucknow  Rs. 19.25 lakh  CAT 
Indian Institute of Management  (IIM), Kozhikode  Rs. 20.77 lakh  CAT 
VGSOM IIT Kharagpur – Vinod Gupta School of Management  Rs. 10.3 lakh  CAT 
Jagan Institute of Management Studies,  Rohini, Delhi  Rs. 8.00 lakh  CAT, CMAT, XAT, MAT, ATMA
Department of Management Studies, Delhi  Rs. 9.6 lakh  CAT 
Symbiosis School of Banking & Finance, Pune  Rs. 12.6 lakh  SNAP 

Job Profiles in Finance

There are several opportunities for jobs such as banks, mutual fund companies and so on. We have mentioned below some instances of jobs which MBA finance graduates can opt for ahead.

  • Financial Analyst
  • Loan Officer 
  • Treasury Manager
  • Financial Risk Manager
  • Accounting Professionals
  • Credit Appraisal Officer 
  • Investment Bankers
  • Investment & Insurance Advisor
  • Financial & Investment Consultant 
  • Investment & Banking Associate 
  • Research Executive for Debt & Equity

A career in finance is thrilling and the highest-paid fields. Candidates need to show their skills in the finance field to succeed in above-mentioned positions.  

Salary in Finance Career

The following range of salary in finance increases according to it’s the position. We have shared an average salary of some respected positions in finance. 

Positions of Finance  Average Starting Range of Salary 
Investment Banker  7-8 lakhs
Financial Analyst  4-5 lakhs
Compliance Officer  5-6 lakhs
Financial Advisor  5-6 lakhs
Loan Officer  4-5 lakhs
Management Analyst  7-8 lakhs
Private Equity Associate  5-6 lakhs

Career in Finance- Top Recruiters

Here are the top companies hiring graduates having MBA in finance and who are specialised in the field of finance are mentioned below.

  • Barclays
  • E & Y 
  • KPMG 
  • Morgan Stanley 
  • Goldman Sachs 
  • Merrill Lynch 
  • Boston Consulting Group
  • Lehman Brothers
  • Deloitte 
  • JP Morgan 
  • McKinsey 
  • Deutsche Bank 

Career in Finance- Skills Required

Without learning you can not get a fruitful result in any sector. Finance is not an easy course, candidates have to sharpen their skills and knowledge, and need to bloom themselves too. These are some skills which help you to boost and build your proficiency in finance. 

  • Analytical skills
  • Teamwork
  • Communication skills
  • Leadership skills
  • Quantitative skills
  • Ability to deal with a large number of task
  • Team player
  • Ability to work under pressure
  • Basic knowledge of financial and accounting management
  • To take criticism lightly 

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Also Read,  Career in Journalism in India

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