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Best Career Options for Financial Management Students in India

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Read on to learn all about the career options available for financial management students in India, including the roles of financial analyst, investment banker, and more! Plus, you’ll also find advice for seeking professional mentors!

Read on to learn all about the career options available for financial management students in India, including the roles of financial analyst, investment banker, and more! Plus, you’ll also find advice for seeking professional mentors!

What Is Financial Management?

Financial management is a process that includes planning, organizing, directing, and controlling an organization's financial activities. It is responsible for acquiring and utilizing financial resources to enable the organization to achieve its objectives.

Financial management can also be described as a process of planning, directing, and controlling financial activities such as procurement and investment. It includes the development and implementation of policies and procedures that ensure financial health. Financial management is a critical function in all businesses, but it is crucial in small businesses because they often have limited resources.

What Is Procurement?

The term procurement covers a wide variety of activities involved in the purchase or obtainment of goods and services. The use of the term differs from business to business, some using a broader than others.

For example, some businesses use procurement as an umbrella term for every stage involved in acquiring goods and services, including procuring legal business requirements, finding suppliers, and tracking payment for goods and services. Others may only use the term to describe furnishing purchase orders and completing payments.

What Is Investment?

Investment is a bit narrower of a term than procurement, and generally refers to the practice of allocating resources (most often money) to generate profits. There are many types of investments, including investing in endeavors and assets. An example of an endeavor might be a new business venture, while an asset can be anything from purchasing real estate to buying stocks.

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Career Options in Financial Management

Financial management is a critical function in any organization, and comprehensively grasping the field's many aspects is essential for students who are interested in pursuing a career in this field.

There are many different career options available in financial management for students in India. Some possible career paths include working as a financial analyst, financial planner, or investment banker. Financial managers typically complete at least a bachelor's degree in business administration or economics. However, there are many different financial management jobs, so students should explore all their options before deciding on a career path.

Each available career path in financial management offers its own unique set of challenges and rewards. While it's true that each of these careers generally requires the completion of a bachelor's degree in business administration or economics, there are many possible specializations to look over carefully. Students interested in pursuing any career in financial management should research the following options before deciding which one is right for them.

What Is a Financial Analyst?

A financial analyst is responsible for analyzing financial data and making recommendations to management about using that data to improve the organization's financial health. More specifically, financial analysts focus much of their time on helping their organization or investors locate profitable investments.

This requires expertise in creating understandable financial models, as well as an ability to assess the performance of stocks, bonds, and various other kinds of investments.

That said, there are many different variations within financial analyst jobs, so students should be sure to explore a wide swath of options before deciding on a career path.

What Is an Investment Banker?

An investment banker is responsible for providing financial advice to clients and helping them raise capital. They may raise capital in many different ways, including issuing bonds, selling bonds and stocks, underwriting, and even negotiating the acquisition and sales of companies.

What exactly is underwriting? This involves evaluating and assuming risk for clients at a negotiated fee or rate. Underwriting is a vital skill for investment bankers to have if they work in the mortgage or insurance industries.

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It’s worth noting that investment banking has a reputation for being a high-stress occupation. However, it is also known as a very high-paying profession as well.

Many different types of investment banking jobs exist, so students should explore various options and speak with working professionals before deciding on a career path.

What Is a Financial Planner?

A financial planner is responsible for helping individuals and families plan for their futures by creating a budget and investing in specific goals. The client goals a financial planner often deals with include buying new homes, paying off debts, allocating for retirement, and guiding investments in stocks and bonds.

There are fiduciary and certified financial planners. Both are legally obligated to act in their client’s best interests, but the real difference is that certified financial planners often work on a fee-only basis, which means they’re only compensated by you and not any of the products they offer. Certified financial planners also undergo more rigorous educational and ethical training than basic fiduciary planners.

As always, there is heavy diversification within the financial planning industry, so students need to thoroughly explore all their options before deciding on a career path.

What Is a Stockbroker?

A stockbroker is responsible for buying and selling stocks on behalf of clients. They are regulated by the Securities and Exchange Commission, and generally, work on a commission basis, receiving a percentage of their trades. A stockbroker’s compensation is often tied directly to their overall performance. They can earn as high as 40% of the value of their trades and as low as 25%.

There are also different types of stockbroking firms. Full-service firms typically pay a lot of attention to client accounts and offer a good deal of advice. On the other hand, discount firms often simply execute the trades their clients propose without too much oversight or intervention.

Seeking Professional Mentors as a Student

While trying to decide on the best career path for yourself, it is important that you talk to working professionals in the fields you’re interested in. They will be able to provide you with a great deal of insight into the day-to-day realities of their work.

Often, your professors will have some professional contacts who might be willing to speak with you. Be sure to speak with them during their office hours (and don’t be shy—most professors are quite thrilled when students show genuine interest and initiative).

There are also student associations you might join and/or professional gatherings you might attend where you will be given greater access to a variety of potential professional mentors. Resources exist to help connect you with valuable mentors and help you make well-informed choices about your future.

For further information and help on seeking mentors, check out the following articles:

There are specific eligibility criteria in India for pursuing financial management courses. Read on to learn these criteria so you are well-prepared.

There are specific eligibility criteria in India for pursuing financial management courses. Read on to learn these criteria so you are well-prepared.

Eligibility Criteria in India for Financial Management Courses

Financial management courses are, of course, designed for students who wish to pursue a career in finance. These courses provide an overview of financial concepts and tools and their applications in different areas of finance. Students who complete financial management courses should be able to understand and analyze financial statements, identify and manage financial risks, and make sound investment decisions.

To be eligible for a financial management course, students must have completed their higher secondary education (10+2) with a minimum aggregate score of 50%. They must also have studied mathematics at the +2 level. Admission to most financial management courses is based on the student's performance in an entrance examination, which an interview or group discussion may follow.

Top Institutes Offering Financial Management Courses in India

Many top institutes in India offer financial management courses to students. Some of the best institutes that offer these courses include the Indian Institutes of Management (IIMs), Xavier Labour Research Institute (XLRI), National Institute of Financial Management (NIFM) and the Institute of Cost and Works Accountants of India (ICWAI).

These institutes offer a variety of courses in financial management to students. The courses offered by these institutes include topics such as investment banking, financial analysis, portfolio management, corporate finance, risk management and insurance.

The courses offered by these institutes are designed to provide students with the skills and knowledge necessary to pursue a career in financial management. These courses will help students understand the different aspects of financial management and how to apply them in real-world situations.

Students who complete a course in financial management from one of these top institutes will likely be able to find employment in a variety of industries. Remember that professional mentors and internships are also highly important, as they will open doors to you while you are still studying. As a graduate of these programs, you will have the option to work in banks, insurance companies, investment firms, accounting firms, and even in the government.

A career in financial management is an excellent option for students who want to help organizations manage their finances effectively. If you are looking for a challenging career with tangible effects, one of the above-mentioned financial management careers might be right for you!

Job Prospects for Financial Managers in India

With the ever-growing economy in India, the demand for financial managers is also on the rise. If you are a student looking to pursue a career in financial management, then there are plenty of options available to you in India. Here is a look at some of the most popular career options for financial managers in India:

  1. Commercial Banking: Commercial banks always need talented financial managers to help them run their operations smoothly. If you have a keen interest in finance and banking, then a career in commercial banking could be the perfect option for you.
  2. Investment Banking: Another popular option for financial managers in India is investment banking. Investment banks are responsible for providing capital to businesses and also help them with financial planning and advice. If you want to work in an exciting and challenging environment, investment banking could be the right career choice.
  3. Financial Planning: Another area where financial managers can find good job prospects is in financial planning. Financial planners help individuals and businesses set up long-term financial goals and strategies. If you have good analytical and problem-solving skills, then a career in financial planning could be perfect for you.
  4. Insurance: Insurance companies are always in need of financial managers to help them manage their operations. If you are interested in the insurance industry, then an insurance career could be the right option for you.
  5. Stock Market: The stock market is another popular career option for financial managers in India. If you have a good understanding of the stock market and its workings, then a career in it could be the perfect choice for you.

Salary Structure for Financial Managers in India

There is no one-size-fits-all answer regarding the salary structure for financial managers in India. However, some general trends can be observed. Financial managers in India tend to earn more than their counterparts in other countries. This is due to the high demand for financial management skills in India. Financial managers in India also tend to earn more than other professionals with similar qualifications and experience levels.

Top Recruiting Organizations for Finance Managers in India

The Indian finance sector is growing at a rapid pace and offers many career opportunities for finance students. Some of the top recruiting organizations for finance managers in India are listed below.

  1. Reserve Bank of India: The Reserve Bank of India is the central bank of the country and regulates the monetary policy. It is one of the largest employers of finance managers in India.
  2. Securities and Exchange Board of India: The Securities and Exchange Board of India is the regulator of the securities market in India. It offers many career opportunities for finance managers with experience in financial regulation.
  3. National Stock Exchange: The National Stock Exchange is the leading stock exchange in India. It offers many career opportunities for finance managers with experience in stock market operations.
  4. Bombay Stock Exchange: The Bombay Stock Exchange is another leading stock exchange in India. It also offers many career opportunities for finance managers with experience in stock market operations.
  5. State Bank of India: State Bank of India is the largest commercial bank in India. It offers many career opportunities for finance managers with experience in banking and financial services.

Conclusion

In conclusion, there are many career options in financial management for students in India. Some of the most popular options include working as a financial analyst, accountant, or investment banker. Each of these careers offers its own set of challenges and rewards. Students interested in pursuing a career in financial management should carefully consider their goals and interests before choosing a specific path.

References and Further Reading

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2021 Aaysha Mansuri

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