There is a tremendous scope for finance professionals in the present world in private, public, service or non-profit sectors. Every firm needs a finance professional who can prepare a firms report, help in taking investment decisions and prepare a sound cash management strategies and help in its implementation. A finance professional can be employed in areas like commercial banking, insurance, real estate, financial planning, corporate finance, money management and so on.
A financial planner helps an individual to plan their future regarding finance. In insurance field they can work as underwrites, asset managers, sales representatives or as an actuary. As an investment banker, he can help companies and government in issue of securities and investors in purchase or sale of their securities, management of their financial asset and in providing advice on financial matters. In banking, career opportunities available are accountancy and auditing, financial service sales, financial management and credit analysis.
Bachelor’s degree, master’s degree and even PhD programs are available in every college. One can take a bachelor’s degree in finance or attend finance classes or even a master’s degree in finance. MBA students can choose their main option as finance. Master’s degree in finance is a highly specialized degree in the field of finance whereas an MBA degree focuses on attainment of management position within the financial field at a point. If you are highly focused on financial field, a master’s degree is a preferable option to MBA as MBA allows you to hold positions out of finance field also. The subjects or topics covered under this field are accounting policies and procedures, statistics, corporate budgeting, economics, taxation policies and procedures and financial analysis methods. Advanced course in finance covers topics like option pricing, risk management and bond valuation.
A finance student needs to have a wide range of skills in mathematics and computer, problem solving and analysis, oral and written communication and strong interpersonal skills. A degree in finance and preferably MBA degree is required to start a career in finance industry. License is needed in performance of activities of capital market involving stocks, bonds, mutual funds, insurance or real estate but not for being a financial advisor. In order to work as a finance manager or to hold any other management positions in a company financial analyst needs to receive designations such as Chartered Financial Analyst (CFA), Chartered Financial Consultant (ChFC), or a Certified Financial Planner. Such designations show the extensive training and competency of the candidate in the area of financial planning.