Finance is a vast and ever-growing field. There are perhaps any end areas of the finance industry. Every year this field offers new job opportunities. So earning a finance degree can give you many new career opportunities.
Finance is a broad term that refers to money management, including investment, budgeting, borrowing, saving, lending, and many more. It is not about one specific job. There are different roles and careers. One can choose based on interest, ambition, and personality.
Here in this article, we have mentioned different careers and jobs one can do after pursuing a finance degree.
Accountants create, examine, interpret, analyze, organize, and maintain various financial records to prepare financial statements for the organization or company. They find possible ways to reduce costs or increase profits. They also give advice on business decisions. They check and maintain the company's financial health.
Candidates have to earn at least a bachelor's degree in finance to be eligible for this job. In India, the average salary is between 6-10 lakhs PA depending on the skills and experience.
An auditor mainly reviews and verifies the business records or accountant's work. They ensure compliance with tax laws. They are also employed by the government and regulatory bodies. With a bachelor's degree in finance, one can become an auditor.
Financial Analysts research and interpret the financial statements and then predict the company's/client's future financial performance. They analyze and compare the current situation with the historical financial data and, based on the finding, create a report to help the company. Candidates can pursue a bachelor's degree in any one of the disciplines, ie. Accounting, economics, finance, statistics, or business. In India, the average salary is between 5-10 lakhs PA.
Budget analysts are also sometimes known as cost analysts. They look after the company's big budget and decide the ways to manage the money efficiently. They also estimate future budgetary needs, involved in policy-making, appraisals, and others related to budgeting. A bachelor's degree in accounting or similar field is required to become a budget analyst. But there are some companies who prefer candidates with an MBA. In India, the average salary is between 6.5-22.5 lakhs PA.
In the financial sector, actuaries are very much skilled professionals. They analyze financial risk and uncertainty. Using their financial and mathematical skills, they predict future events and help businesses to minimize the cost of risk. They mostly work in banking, insurance, and accounting. Candidates having a bachelor's degree in finance or finance-related field can do this job. In India, the average salary is between 4-11 lakhs PA.
Chief Financial Officer (CFO) is the head of the company in regard to their finances. They work with top-level management. They track all financial activities of the company and supervise the accounting team members. They play an important role in the company's new decisions and also give advice associated with finance. A Master's degree is preferable, but experience is essential. In India, the average salary is between 15-25 lakhs PA.
Unusually company's insurance department, insurance agency, or finance agency employs an insurance and claims Officer. They have to perform multi-tasks, such as supervising or doing ground-level operations, and check out whether the claims are valid or not. They also have to train and guide the insurance agent so that they can deal better with the customers. In India, their average salary is between 3-5 lakhs PA.
There is a huge demand for teachers and professors in this field.
To become a professor or teacher of business, commerce, or finance, they need to pursue various degrees. Undergraduate, postgraduate, and PhD degrees are essential according to being a teacher or professor. In India, their average salary is between 8-20 lakhs PA.
Risk Analysts mainly analyze and interpret the potential risk zone and can be a threat to the company's earning capacity, ultimate goals, asset management, existing investments, and others. By using their strong quantitative and qualitative skills, they detect potential problems and minimize the risk. Risk analysts are highly required in investment banks and firms, insurance companies, mortgage, marketing, sales, and financial services. In India, their average salary is between 7-10 lakhs PA.
Investment Banker's prime work is to raise money or fund for the operations of a company and government. They do not deal directly with the investors to raise money. Rather, they raise money from the capital markets, i.e., through bonds, stocks, mergers and acquisitions, public offerings, venture capitalism, and other methods. They have to deal with huge financial transactions. MBA OR Master in Finance is prioritized for this job. In India, their average salary is approximately 8 lakhs PA.
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