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Finance As A Career

Finance As A Career

Summary

A career in finance can be rewarding, intrinsically and monetarily. Today the role of finance professionals varies from helping corporates and individuals make financial planning decisions to helping businesses raise capital for expansion and running business operations. A degree in finance opens a wide domain for employment in areas such as banks, finance companies & financial institutions, insurance companies, mutual funds, large MNCs, private equity firms, consulting companies and investment companies. Successful financial professionals also earn good salaries, as a reward for solving complex problems.

How to Pursue a Career in Finance

StreamGraduationAfter GraduationAfter Post Graduation
Path 1
Clear Class XII in Commerce with Math or Science streamPursue Bachelors in Any Stream for 3-4 yearsPursue Post Graduation Diploma in Finance/ MBA/ Masters in Finance or Certification Program like CFA for 1-2 years-
Path 2
CommercePursue Bachelors in Finance/ BFIA/ B.Com (H) for 3 yearsPursue Post Graduation Diploma in Finance/ MBA/ Masters in Finance or Certification Program like CFA for 1-2 years-
Path 3
CommercePursue Certification Course in Chartered Accountancy/ Cost AccountancyPursue Post Graduation Diploma in Finance/ MBA/ Masters in Finance or Certification Program like CFA for 1-2 year-
Path 4
CommercePursue Bachelors in Finance/ BFIA/ B.Com (H) for 3 yearsPursue Certification/ Diploma Program in Finance-

Important Facts

  • Most Colleges have an eligibility of at least 50% aggregate marks in class 12th.
  • Most examinations have an eligibility of at least 50% aggregate marks in class 12th and graduation.

Leading Institutes

Top Finance Institutes in India
CollegeLocationWebsite
The Institute of Chartered Accountants of IndiaMultiple Locationswww.icai.org 
The Institute of Company Secretaries of IndiaMultiple Locationswww.icsi.edu 
Institute of Cost and Works Accountants of IndiaMultiple Locationswww.icmai.in 
Indian Institute of Financial PlanningNew Delhiwww.Website Link not available
NIILM Centre for Management StudiesGreater Noidawww.niilm-cms.edu.in 
Asia Pacific Institute of ManagementNew Delhiwww.asiapacific.edu 
International College of Financial PlanningNew Delhiwww.icofp.org 
Delhi University, Department of Financial StudiesNew Delhiwww.mfc.edu 
Shaheed Sukhdev college of Business Studies, Delhi UniversityNew Delhiwww.sscbs.du.ac.in/ 
Indian Institute of ManagementAhmedabadwww.iimahd.ernet.in/ 
Indian Institute of ManagementBangalorewww.iimb.ernet.in 
International College of Financial PlanningMumbaiwww.icofp.org/mumbai.php 
Top Finance Institutes in the World
InstitutionLocationWebsite
Harvard UniversityUnited Stateswww.harvard.edu 
Massachusetts Institute of TechnologyUnited Stateswww.web.mit.edu 
Stanford UniversityUnited Stateswww.stanford.edu 
University of ChicagoUnited Stateswww.uchicago.edu 
University of CambridgeUnited Kingdomwww.cam.ac.uk/ 
University of PennsylvaniaUnited Stateswww.upenn.edu 
London Business SchoolUnited Kingdomwww.london.edu 
University of California, BerkeleyUnited Stateswww.berkeley.edu 
New York UniversityUnited Stateswww.nyu.edu 
The University of MelbourneAustraliawww.unimelb.edu.au 
The University of New South WalesAustraliawww.unsw.edu.au 
National University of SingaporeSingaporewww.nus.edu.sg 
Yale UniversityUnited Stateswww.yale.edu 

Important Entrance Exams

Undergraduate
CollegeTentative DateImportant ElementsWebsite
Chartered Accountant CPT ExamJune and December
  • Accounting
  • Mercantile Law
  • General Economics
  • Quantitative Aptitude
www.icaiexam.icai.org 
Company Secretary ExaminationJune and December
  • Company Law
  • Accounting
  • Business Economics
  • Business Management
  • Tax Laws
www.icsi.edu 
Postgraduate
InstitutionTentative DateImportant ElementsWebsite
Certified Financial Analyst Exam (CFA)June and December
  • Investment Analysis
  • Statistics
www.cfainstitute.org 
Common Admission Test (CAT)November
  • Verbal Ability
  • Quantitative Ability
  • Logical Reasoning
  • Data Interpretation
www.iimcat.ac.in/

Work Description

  • Provide financial information and analyze change
  • Monitor and interpret cash flows and predict future trends
  • Formulate strategic and long-term business plans
  • Analyze competitors and market trends
  • Develop financial management mechanisms that minimize financial risks
  • Conduct reviews and evaluations for cost-reduction opportunities
  • Manage a company's financial accounting, monitoring and reporting systems
  • Develop external relationships with appropriate contacts, e.g., auditors, solicitors, bankers and statutory organizations

Pros & Cons of a Career in Finance

Pros
  • High paying potential
  • Opportunity to work in different areas, like accounting, auditing, pricing, taxes etc.
  • Fast growth in job and never-ending demand of professionals
Cons
  • Getting certification is a long process
  • Work-life balance may get affected due to tediousness of job
  • Can become boring in the long run

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