If money makes the world go round, can you imagine the importance of finance professionals! Apart from those who renounce their worldly possessions, finance is a part of everybody’s lives be it at a commercial level or an individual level. As a student of finance there are a number of doors of opportunity for you. A career in finance employs a range of skills & interests from the extremely niche to the more general. We at Orbit Institutes show you a glimpse of the trending career profiles in Finance.
Corporate Finance: As the name suggests, this involves working for corporations. These could be of any size. A corporate finance specialist helps a company manage their financial strategy. Apart from managing these finances at a macro-level, corporate finance also involves predicting profits & loss, reducing financial risk, preparing financial statements and in some cases even handling mergers & acquisitions. Within a corporation there may be more finance roles such as auditors & treasurers.
Commercial Banking: A commercial bank is a financial institution that grants loans, accepts deposits and offers a range of financial services to the general public. They are what most people refer to as ‘banks’. A job role in commercial banking could involve being a bank teller, loan officer, account manager, branch manager etc. Within this sector it is possible to grow from a local branch position to a position at the corporate headquarters. This would open the doors of international opportunities for you.
Investment Banking: To put it simply an Investment Bank helps organizations raise capital and provides advice on their financial strategy. There are various roles that one could adopt in an investment bank. Some investment bankers specialize in mergers and acquisitions. Others choose to become underwriting specialists (those who help assess risk) and some become venture capitalists, who help new businesses. While careers in the investment banking sector can be quite well-paying and glamorous, they can also be intensely gruelling.
Hedge Funds: Hedge funds use a pooled investment structure. They are largely unregulated private investment funds. A hedge fund manager works towards raising external funds and then investing them according to a strategy. Hedge funds are usually specialized in a certain field. Working at a hedge fund could involve being a portfolio manager, compliance officer or even an analyst or trader.
Insurance: The insurance sector relies on finance professionals for various roles. Actuaries are people who help insurance companies calculate and set insurance rates. Risk managers recommend the level of risk an insurance company should take, while still staying financially secure. Then of course there are Chief Financial Officers or CFOs who oversee all financial operations of the insurance company.
Public Accounting: Public accountants are in-charge of helping companies maintain a record of their income and expenditure. They are also responsible for boosting sales; increasing revenue and helping the company achieve their long-term financial goals. They usually work in accordance to the Generally Accepted Accounting Principles or GAAP or the International Financial Reporting Standards (IFRS).Public accountants work for both the commercial and private sector.
Financial Planners: Financial planners or advisors are people who help individuals define, develop and achieve their financial goals. Along with an individual’s personal financial data, a financial advisor will use sound financial knowledge and assumptions to guide the individual on where they can invest and how they can further improve their financial situation. A financial planner may also help with taxes, retirement plans, investment growth and wealth preservation apart from other things.
Stock Brokers: Stocks refer to the shares sold by a company. Stock brokers are those who guide clients on which stocks to invest in for greater returns. Stock brokers are well-versed with the stock markets. They guide people on when to buy or sell. This career path is considered fast-paced and highly lucrative. A stock broker usually receives a commission on every transaction.
Portfolio Management: Portfolio management involves overseeing the investment policies of a company or an individual without getting into the nitty-gritty details of each investment. It also involves doing a SWOT analysis for the client in order to maximize profits and minimize risks.
As you can see the finance sector has varied career options for both experienced professionals and beginners. An individual must work towards finding a role that s/he enjoys and has the skill set for. At the end of the day, knowledge is power and anyone entering the finance world should make themselves aware of the opportunities available. We at Orbit Institutes are happy to guide you through career options in the finance sector.