Monday 15th April 2024

Interested In Finance? 10 Great Careers For You

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.

 

Finance degree programmes

  • Bachelor of Commerce (BCom)
  • BCom Accounting and Finance
  • Bachelor of Finance
  • Bachelor of Business Administration (BBA)
  • Bachelor of Science (BSc)
  • Master of Commerce (MCom)
  • Master of Business Administration (MBA)
  • MBA in Finance
  • Master of Science (MSc)
  • Doctorate degree in finance

List of careers in finance


  1. Accountants

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.


  1. Auditors

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.


  1. Financial Analyst

 

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.

 


  1. Budget Analyst

 

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.

 


  1. Actuary

 

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.

 


  1. Chief Financial Officer

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.

 


  1. Insurance and Claims Officer

 

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.

 


  1. Finance Professors/ Scholars

 

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.

 


  1. Risk Analyst

 

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.

 


  1. Investment Banker

 

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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How To Identify And Avoid Work From Home Scams

“Work from home” is a word that any person can easily interpret as something that we can do by sitting at our home, or it can be said that we work remotely. This scheme existed very much before the covid pandemic, mostly in the form of freelancing work. The countries like Switzerland, Iceland, Denmark, Australia, the UK, and many more offer plenty of opportunities for people to work remotely.

However, during the Covid-19 pandemic, the trend of working from home has become widespread in many countries. And this is the time when most of the scams happen in the name of  “Work from home.”

Although, all work from home is not fake. Many professionals work from outside the office. How can you detect the real and fake one?

To identify which is real and which is fake, you have to read this post till last. But before that, let’s first know what work from home scam is.

 

What Is Work From Home Scams?

Work from home scams is when mendacious or deceitful people create fake job postings to benefit themselves. Such a person may use various means to steal your personal information or financial assets.

As more and more people are craving flexible work schedules, the popularity of working from home is also rising. On analysing this craving, the scammers are also targeting the such market with highly lucrative job offers. They present themselves as a trustworthy company or a reputable person to gain your trust. Then they force you to do registration by giving fees to do such a job. In the beginning, they promised to pay you, but later on, they pretended that you had committed a lot of mistakes and our company has suffered a lot of losses. They demand money to compensate for the loss, and if you do not pay them, they will blackmail or threaten you in various ways.

 

Ways To Identify Work From Home Scams

Source: https://jobs.fobza.com/be-careful-about-fake-job-recruiting-agents/

 

Job offer without an interview

Many deceitful persons pretend themselves as a respectable position holder in the company or the company’s HR Manager and offer you the job. The offer looks exactly like a real one where they tell you that you have got a great opportunity to work with our company. In this way, they ask for various personal details along with bank account details. Then they ask OTP for fake registration or linking. On sharing the OTP, money will be deducted from your bank account. And when you call them back, they will never receive it.

 

Earn more money with less work

A reputed company pays you only according to your work value. But when anyone offers you to earn more than your expected amount, such as Rs. 25,000 to 50,000 for only a little work. Be aware of it! They are mostly scammers. They describe it as an easy way to earn money, the Best job for homemakers, students preparing for competitive exams, and many other ways.

 

Advertisement tips or offer

You might have seen various advertisement tips such as “Want to do a part-time job?”, “want to easy work from home jobs?”, “Anyone can do the job, no skills required,” “Marketing through phone call job,” “Typing job,” “Best jobs in Bhubaneswar or any other place,” etc. These types of advertisement links on an unknown websites are sometimes a scam. Such scammers mostly ask you for a security deposit. Unfortunately, most job aspirants fall this prey and lose money.

 

Lacks job details

If a job posting or offer provides minimal description about the job and promises you easy and quick hiring, that might be a signal of a fake job. You also are not able to find any historical information about the company or its employees.

 

More spelling or grammatical mistakes in an offer letter

When you receive an offer letter with a lot of spelling mistakes or grammatical errors, then it might be fake. A reputed company may rarely or not commit such mistakes.

 

Pay money to work

A common scam where an employer asks to deposit some money as security to get started. They claim that you first deposit the money and begin the work, and after the end of the first month, you will get back your money. However, there are many legitimate online job boards where you need to pay a subscription fee. So keep this in mind while searching for remote jobs.

 

Generic email account

Scammers mostly use generic email domains such as @gmail.com, @yahoo.com, @hotmail.com, and @outlook.com for sending scam emails. These accounts are free to use, and scammers can easily customize them to look as if they are coming from a legitimate organisation. When you check their website, it does not look like a legit site.

 

No special skills required

Generally, when a legitimate company hires you, they mostly emphasis on your skills. They prefer to know your skill so that they can decide whether to hire you or not. Scammers usually do not ask for any skills. They mostly emphasis on quick hiring. However, sometimes legitimate companies also do not ask for special skills according to their post requirement.

 

Ways To Avoid Work From Home Scams

 

Check company review on Google

Source: https://www.devdigital.com/blog/detail/5-reasons-why-google-reviews-are-important-for-your-business

 

If you find any suspicious thing about the particular company, search the company name on Google and check its review. If you do not find the name, then search the company name with a scam. Again if you do not find anything information about the company, do not join it. It might be a scam.

 

Check the company profile on LinkedIn

Linked is mostly the professionals’ place. Check the company name properly there if available. Do not join a company about which you are not getting any information. They might be scammers. So research properly.

 

Do not share your personal information

Do not share your personal information via phone call or email without knowing about them. They may later blackmail you or vacant your bank account.

 

File RTI

Source: https://rti.rajasthan.gov.in/

To know whether a company is a fraud or not, file RTI (Right To Information) online.

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Not Getting Rs. 2000 Notes From ATM? Check What FM Nirmala Sitharaman Says

Parliament was informed on Monday that no instructions had been granted to banks regarding the filling or non-filling of Rs 2000 notes in ATMs, as lenders make their own decisions regarding the loading of cash vending machines.

According to RBI Annual Reports, the total value of Rs 500 and Rs 2000 denomination banknotes in circulation as of end-March 2017 and as of end-March 2022 was Rs 9.512 lakh crore and Rs 27.057 lakh crore, respectively, Finance Minister Nirmala Sitharaman declared in a written reply in Lok Sabha.

Banks have not been given instructions to stop filling Rs 2000 notes in ATMs. She explained that Banks determine the amount and denominational requirements for ATMs based on past usage, consumer demand, seasonal trends, and so on.”

In response to another question, the finance minister stated that the total amount of central government debt/liabilities are estimated to be around Rs 155.8 lakh crore (57.3% of GDP) as of March 31, 2023.

She stated that out of this, external debt is projected to be about Rs. 7.03 lakh crore at current exchange rates (2.6 percent of GDP).

She said, “Share of external debt is only about 4.5 percent of total debt/liabilities of the central government and less than 3 percent of GDP. External debt is mostly financed by multilateral and bilateral agencies at concessional rates. Therefore, the risk profile stands out as safe and prudent.”

Moreover, she stated that the RBI, in consultation with the government, recently announced a number of measures to diversify and broaden the sources of forex funding in order to reduce exchange rate volatility and global spillovers.

Fresh FCNR(B) and NRE deposits were excluded from the current interest rate regulation (i.e., interest rates shall not be greater than those offered by the banks on equivalent domestic rupee term deposits) until October 31, 2022, as per the statement.

According to her, the all-in-cost ceiling was increased by 100 basis points in some circumstances up to December 31, 2022, and the external commercial borrowing (ECB) limit under the automatic route has been raised to USD 1.5 billion.

She said that in order to promote the expansion of Indian exports and the growing interest of the international trading community in the Indian rupee, RBI has implemented a new arrangement for exports and imports to be invoiced, paid, and settled in the rupee on July 11, 2022.

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Daily UPI Transactions Across The Country Exceeded 36 Crore In One Year

The RBI Governor Shaktikanta Das on Monday announced that daily UPI (unified payment interface) transactions across the country surpassed 36 crores in one year, a 50 percent jump from 24 crores in February 2022.

In terms of value, these transactions are worth ₹6.27 lakh crore, which is registering a growth of 17 percent from ₹5.36 lakh crore in February 2022. At the RBI headquarters, While launching Digital Payments Awareness Week, the governor discloses this data to the reporters. He also said that the total digital payment transactions crossed over Rs 1,000 crore each month during the last three months.

He also said that the success story of India’s payment systems tempts several other countries to adopt them. They have shown their interest in replicating this system. It’s a matter of pride. Since December 2022, India’s payment systems have a record of over 1000 crore transactions per month. This shows its acceptance by consumers due to its robustness to payment systems. According to the recent report of a pan-India digital payments survey, out of 90,000 respondents, 42 percent of respondents are using digital payments.

In volume terms, in January 2023, the number of UPI transactions crossed 800 crores, while NEFT (National Electronic Funds Transfer) saw a daily volume of 3.18 crore transactions on 28 February.

Since the launch of UPI in 2016, it has appeared as the most popular and preferred payment mode, leading person-to-person and person-to-merchant transactions accounting for 75 percent of total digital payments.

On the tokenization exercise, he said that RBI had tokenized over 48 crore cards, which managed over 86 crore transactions, which makes it the world’s largest tokenization exercise. The tokenized transactions have grown from 35 percent initially to 62 percent.

The acceptance of digital payments infrastructure has increased from 170 million touch points to 260 million touch points, which shows a growth of 53 percent.

The governor also launched the ‘Har Payment Digital’ mission which aims to strengthen the RBI’s commitment to deepening digital payments in the country.

While UPI has allowed the digital payments facility to retail outlets, kiranas, street vendors, small or large business people, etc., Bharat Bill Payment System (BBPS) has ensured the shift of bill payments from cash/cheque to digital mode and National Electronic Toll Collection (NETC) ) system has focused on shifting the toll payment to digital mode.

The governor further said that the RBI has decided to adopt 75 villages to mark 75 years of independence. Under this program, Payment System Operators (PSOs) will choose 75 villages and convert them into digital payment-enabled villages.

The RBI Deputy Governor Rabi Shankar said that the financial formalization of the economy is essential as money is at the core of any economy. He added that RBI’s Digital Vision 2025 is to make digital payments available everywhere and every time so that everyone can make digital payments. In the last five years, digital payments have grown 15 percent annually, he said.

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Banks May Remained Shut On Every Saturday

In India, every first and third Saturdays in the bank are open for Indians who are still visiting on the weekend in the digital age. But now the weekend visits to the local branch may not be possible due to the bank holiday on all Saturdays. Employees may work for five days a week. It is a long pending demand of the bank employees.

The Indian Banks’ Association (IBA), in discussion with the United Forum of Bank Employees, has agreed to declare all Saturdays as a holiday, but the employees will have to work more hours per day.

But to implement this new rule, the Indian government, along with the Reserve Bank of India, will also have to accept this five-day week in exchange for longer hours before deciding on a new timing. The deal regarding working days was negotiated separately from wages when a senior union official was absent.

According to reports, 40 minutes will be added to bank employees’ per day working hours in lieu of two additional days off. The decision was taken after LIC’s acceptance of a five-day working week, and stock market plans to align trading with western economies. Bankers acknowledge that even though ATMs and e-banking provide primary services to customers, many people still visit their local branches.

Moreover, cash deposit machines and passbook printing devices have also been set up along with ATMs so people can take advantage of it as a self-service.

After accepting this demand, employees must work daily from 9:45 am to 5:30 pm.

Even though the banks will remain closed in the coming days, people will not face any hassle related to bank operations such as ATMs, cash deposits, online banking, and mobile banking services.

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