All you need to know about finance jobs
Introduction to finance
Finance as a department in a company is primarily responsible for ensuring the costs are in control, there is adequate cash flow, established and controlled profitability levels. They also prepare financial documents and final accounts for reports.
The science and art of managing funds is called finance. This term covers various functions under its umbrella that are aimed towards the upliftment of financial health of a company. Analyzing credit application, risk management and collections; are some of the primary objectives of finance as a function. Finance executive jobs make you responsible for costs control, managing the cash flow, and maintain the required profitability levels. Also, to report the financial health of an organization, finance executives also need to create reports of accounts and send them to the higher management.
Daily job role
Finance jobs as a function in an organization perform diversified set of tasks. Depending upon your profile and work experience, you shall be given responsibilities accordingly. Some of the major profiles offered under finance jobs are; financial analyst, auditor, trader, tax associate and financial advisor. The responsibilities and challenges of your daily job are profile specific.Primarily, your daily job may or may not include any of the tasks; like number crunching for forecasting profit, losses, and budgeting.
Road map for finance jobs
To start your career in finance you would need essential qualifications, which are a pre-requisite for landing with a finance job. Graduate in commerce or any of the allied subjects shall give you an early start in this job domain, allowing you to start from the bottom of the hierarchical pyramid of finance jobs. Otherwise, if you wish to pursue a post graduate degree in financial management, then you can start your career from the mid-level positions such as that of an assistant manager.
Also if you have deep interest in getting into the core of finance then you can opt for certain courses like CA, CWA, CFA or CPA, all these certifications are globally accepted and the future scope that these courses bring to the table are unmatchable. Companies which hire for finance jobs in the senior management or the top management, ask for any one of these certifications, as the knowledge that these certifications impart, help you to take decisions which will be highly beneficial for the financial health of your organization.
There are certain ERP softwares that help organizations to enhance their revenues. So getting a certification in ERP softwares from finance shall exponentially boost your job prospects.
Distribution of Jobs
Finance jobs are spread out to all across major job destinations in India. Depending upon your preferences you can search for these jobs in any geographic location, however, you would need to put certain thought before you start looking for jobs. Consider the career path that the organizations in that particular city offer along with the brand value and the reputation of the employers present in the city. This shall help you align your career goals depending upon the career path that you will tread.
To give you an overall idea of the job landscape of the major metros, in terms of finance jobs, Mumbai, the financial capital of India has promising growth prospects. If you wish to establish your career in core finance, then this is the place to be. Major investment banking firms, stock and equity traders and even the Bombay stock exchange can be your playground to exploit your potential.
Freshers who want to dip their feet in this career domain, must look for finance jobs in Bangalore, which is the IT hot-spot in India. Retail banking, business analysis, sales and wealth management; are some of the profiles that are open for freshers, and provide them with a platform to explore their potential and find their grounds to further develop their specialization on.
Finally, Chennai which serves as a home to various banks and financial institutions of international repute, like; Credit Suisse, World Bank and Goldman Sachs are present here. Finance jobs with these employers would require a consistent academic track record and expert level of skills in finance. The banking sector here is also quite strong, with maximum transactions happening from this city makes it a viable option for finance professionals to seek for jobs as the volume of business here is large, which requires large segment of finance professionals.
Finance jobs for those with technical skills
Finance jobs have always been considered as the highest paying jobs, however, to avail rewarding pay packages one needs to put in a lot of effort and hard work towards earning a hefty pay package. Finance jobs in banks are the highest paying ones, as you are deeply involved in selling financial products and services. So the salary that you would get in the month end, shall include your commission on sales or performance based incentives.
Other than the banking domain, your earning potential shall largely depend upon your level of education and experience. If you posses any of the certifications in chartered accountancy, cost and work accounts, financial planner or financial analyst, then in the initial stages of your career your earning potential would be way higher than any other professional. And over the years, once you reach to the top level management, then along with your annual compensation, you shall be entitled for; equity, loyalty bonuses, shares from profits and paid holidays.