“The only way to do great things is to love what you do. If you still can’t find it, keep looking. Don’t settle.” – Steve Jobs
Mr. Steve Jobs’ advice is very important for everyone to find a job that they like so that great work can be done. Career choice is an important decision and this decision is made at a young age where there is relatively less experience in the real world. For students, deciding on their field of specialization in their studies and subsequent careers is having a lasting impact on their lives.
Finance is one of the specialization and career fields that many students prefer. It is especially important for them to know the career opportunities available in the financial field in the current changing business environment, both domestically and globally. The financial sector is a preferred career because the work here is professional level. Anyone can build a finance career by acquiring specialized knowledge about money and practicing that knowledge. Growth opportunities in this sector are many and career growth is based on performance. Even compensation is good and one can have a career balance and social respect.
The broad field of career building in the financial sector domain is as follows.
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All corporate organizations, big or small, have large finance departments. There are career opportunities in accounting, auditing, budgeting, financial control, taxation and compliance. Corporate treasury management skills give a good career to manage all investments in various assets and securities created by the company.
Banking sector and NBFC
Technology has taken over the entire financial sector, especially the banking sector. There is ample use of technology in every aspect of modern banking. The areas in which careers can be built are business development. Financial analyst, bank treasury operations, bank risk management, marketing of banking services and finally relationship banking. Traditional fields have good career opportunities such as corporate loans, SME loans, agricultural loans, microfinance and foreign exchange.
Insurance is another fast growing sector that offers many career opportunities. In addition to the traditional career of insurance marketing, the sector offers careers in the insurance actuarial department, compliance department, regulatory department and micro and rural insurance. Health, automotive, catastrophic and reinsurance also offer good career opportunities.
This sector offers ample opportunities especially for MBA Finance students. The major fields of career are trading and broking in the capital market, equity and other security analysts, mutual funds, credit ratings, investment and merchant banking, research and advisory services such as consolidation and acquisition, commodity trading, financial market risk management and portfolio. Management
The growth of financial services in India and globally is remarkable. Indeed, the financial services sector has played an important role in the growth and development of financial markets. Students can get good careers in areas such as investment banking and merchant banking, housing finance, credit card business, factoring services in the domestic and international markets, and personal asset advisory services.
The whole financial sector has been overwhelmed by technology and a new sector called Fintech has emerged which is making extensive use of modern technology for all financial functions. Students with knowledge of modern technology and knowledge of its application in the finance area called ‘Fintech’ have ample career opportunities. The broad fields here are cognitive technology, artificial intelligence, blockchain technology, robotic process automation, payment gateways, digital wallets and cyber security.
Necessary traits among students to build a good career in the financial sector
A degree with an excellent track record of academics is important for a good career in finance, and an awareness of the basics of business and finance with good communication and interpersonal skills as well as good numerical and analytical ability. It is essential to take a position of responsibility and leadership. Knowledge of modern technology and its application is required to get a good job. These knowledge and qualities are important for success even for starting your own venture. The last but not the least quality is required here honesty because it is a sector where one has to deal with a lot of money directly or indirectly, so honesty is a prerequisite for success in the financial sector.
Education and training
KJ Somaiya Institute of Management offers MBA in Finance specialization and postgraduate program in Financial Services Specialization along with all the courses mentioned above and trains students to develop the features required for a career in finance. Industry interfaces, live projects and various student clubs and associations lead to the overall development of students and they are ready for the industry. The industry likes our students because they are trained to be fit for the job.
Dr. Pankaj Trivedi
Priest; Faculty of Commerce and Business Studies
Somaiya Vidyavihar University
Area chairperson; Department of Finance and Law
KJ Somaiya Institute of Management
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