The finance industry stands ahead in the fast-paced, growing landscape of advancing technology, wherein a career in finance is considered lucrative and has always been in great demand.
From shaping global economies to gripping a fundamental role in driving employment and innovation, the finance industry has been at the core of economic growth and development.
Finance is a dynamic field with distinguished career options that require expertise in specific skills, qualifications and knowledge.
When we decide to build a career in finance, knowing our inclination towards a particular role must be a prime requisite.
This helps us understand our interests and grow better, explore skill sets and develop new ones for career growth and advancement.
However, when deciding upon a career in finance, one must understand how every job requirement varies from the other. You must be highly competitive and always uphold an attitude of constant learning and upskilling to keep pace with the changing market trends.
Hence, today in this blog, we will explore the top 6 career options in finance in the diverse BFSI industry and understand how one can prepare themselves to secure a remarkable career in finance.
In-demand Jobs in the Finance Sector
A career in finance comes with various opportunities and diversity in job roles and functions.
Although there must be a firm grasp of the fundamentals of financial management to shine in this domain, we have listed the top 6 career options that offer a promising compensation package and help you understand the various career options in finance that best interest you!
Financial analysts examine financial information to understand how well an organisation is performing, its potential risks and profitability. Their role involves evaluating revenue and expenses and identifying the scope for improvement through strategic planning. They utilise data-driven insights to prepare financial reports and perform financial modelling.
Average Annual Salary: 3.5-4 lakhs, ranges up to 10.9 lakhs annually with significant experience.
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The investment banking job encompasses providing strategic guidance to corporations to help them raise funds. This facilitates mergers and acquisitions and underwriting services. Their primary role is to assist clients with complex transactions and help them make investment decisions.
Average Annual Salary: 8.7 lakhs, goes up to 18 lakhs per annum with significant experience in the field.
Financial Advisors conduct thorough research and provide financial suggestions to clients. Their primary duty involves identifying the clients’ long-term or short-term goals and recommending appropriate services or directions. They also assist in allocating financial investments and savings for retirement or future planning.
Average Annual Salary: 3.72 lakhs, goes up to 8 lakhs with due experience in the role.
Compliance officers regulate that activities carried out by the organisation follow all the guidelines set by the authorising body. They are responsible for eliminating non-compliance fees incurred by the firm. Since organisations aim to avoid any trouble with regulatory factors, compliance officers work at the edge of the finance industry, taking care of financial growth by monitoring policies and reviewing every activity.
Average Annual Salary: 4.8 lakhs, may go up to 15.5 lakhs per annum with experience and expertise.
Financial Risk Managers:
Risk management aims at identifying and assessing potential risks that could be potential threats to the welfare of an organisation. Their role involves analysing internal and external threats, evaluating their impact, and effectively reinforcing measures to navigate challenges.
Average Annual Salary: 6-7 lakhs; senior-level salaries go up to 24 lakhs annually.
Private Equity & Venture Capital:
Private equity is among the most high-paying careers with undying earning potential. It involves investing and identifying companies that have strong growth potential. They assess investment opportunities, manage investments, and negotiate and crack profitable deals. The funding takes place in exchange for an equity stake or profit sharing.
Average Annual Salary: 8 lakhs, can go up to 22 lakhs per annum (senior level).
Future of the Finance Industry
As per market forecast, the Finance market is expected to show an annual growth rate of 14.97% between 2022 and 2027, which projects a market volume of $18.75m by 2027. This testifies to how rapidly the finance industry continues to flourish.
With the latest financial developments in place, we see a metamorphic change in the financial model of the country.
The newest technologies like blockchain, AI and Machine learning have majorly modified and improved the potential of financial services, creating more room for job opportunities.
As digitalisation forms a vital testament for the future, the finance sector has witnessed all-round growth and advancement in the transformative global economy. This growth is continually fuelled by taking active strides towards improving financial services and upgrades in the economic framework.
This again calls for skilled professionals with due diligence in financial literacy, business acumen and a keen interest in technology. Rigorous learning and upskilling can also be a notable step towards building a promising career in finance and proving your dedication and determination towards the field.
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Amid the rapidly changing economy, there is an absolute pool of opportunity for finance enthusiasts that promises a bright, ambitious career in finance.
Cultivating essential skills that bridge the skill gap and help grasp the nuances of the financial industry is vital. Acquiring valuable certifications through continuous training and learning can prepare professionals with top-tier skills that today’s tech-enabled companies seek.
Adding as a necessary aid, a graduate diploma in finance online offers numerous benefits for people looking to advance their careers in finance.
A specialised program can provide a flexible way to gain in-depth knowledge and skills without disrupting existing routines.
It could be an ideal step towards demonstrating your commitment towards professional growth and aligning yourself with the financial sector’s demands.
So, if you were looking for an online PGDM in finance, your search shall end here as Expertrons PG Diploma in banking and financial management can be the right measure to a rewarding career.
It introduces them to new concepts and readies them for the financial world, equipping them with top industry-demanded skills. You also gain access to a vast online library, expert guidance and 100% placement in India’s leading financial companies!
Frequently Asked Questions
Today, the most in-demand finance jobs include financial analysts, financial advisors, investment banking, risk managers, quantitative analysts and portfolio managers.
A career in finance requires aspiring professionals to have a background education in economics, commerce or business. However, gaining practical experience through workshops, internships or pursuing professional training courses and certifications can also enhance your eligibility and improve your chances.
A career in finance demands professionals to hold a firm grasp on specific skills to perform their jobs and complex financial tasks smoothly. These essential skills include analytical, problem-solving, critical thinking, communication, financial literacy and tech proficiency.
Technology and data analytics form an integral facet of the Finance Industry. Using automated robo advisors, AI-driven risk assessment, blockchain and big data analytics facilities for swifter work operations ensures efficiency and accuracy in decision-making.
Finance careers offer decent compensation packages ranging from moderate to high. However, high-demand job profiles like investment banking, quantitative finance and private equity come with enticing salary packages. Earning potential in financial careers depends upon factors like the job type, years of experience, and location.