NEW AGE CAREER OPTIONS IN FINANCE :
The brave new corporate, is an exciting place to be in right now. If there is a right time and right place – this is it. Many indicators are moving north! But as always, it will make things better if we are prepared and if we know what to expect. In today’s fast paced world planning a career is a great challenge. The tremendous growth in the economy is opening up new opportunities as new businesses get set up. India has become a global hunting ground for talent. Now we have the opportunity to think of “global” careers.
A career as a finance professional today is vastly different than it used to be years ago. The study and analysis of today’s markets, financial products and other financially related sectors of the business world are the foundation of financial activities to date. Stockbroker, financial planner, and investment banker are just a few examples of jobs that may be chosen when pursuing a career in finance. As finance grows year to year, being accurate and up to date with financial information and financial techniques is essential when considering a career in finance.
New trends in Financial Markets:
Financial markets across the world are getting integrated and complex due to technological advancements of most of the erstwhile closed economies. This process warranted the market professionals to be equipped with the knowledge of the various market processes, and the understanding of broader role of various segments of the markets. Over the past few years the financial market has seen a tremendous change in the activities that are transacted in it. The introduction of derivatives has brought in a number of challenges. These assets are like dynamite. Used properly, they can be extremely effective and beneficial.
The problem is they can also destroy careless users. There are several problems faced by derivatives markets across the globe. Banking sector is also witnessing changes. Banks are eyeing retail segment as it offers immense opportunities. However, on the governance front, the sector is facing multiple challenges like: increased competition, rising customer expectations, and diminishing customer loyalty. Corporate governance is in fact the crying need of the day as Indian banks endeavor to make global players. Mutual funds are also competing with commercial banks in the race for retail investor’s savings and corporate float money. The power shift towards mutual funds has become obvious. The coming years will show that the traditional saving avenues are losing out in the current scenario. “Finance is the key when you think about strategy, because what are we all about? It’s about creating shareholder value.”
Banking sector in India offers excellent career opportunities to aspiring candidates. You can explore your options in Corporate Finance, Capital Markets, Project Finance, Trading, Mergers and Acquisitions, Ratings Analysis, Equity and Fixed Income Research and Retail Brokerage/ Stockbroker/ Private Client Coverage among others and other financial institution.
Presently in India, the insurance sector is nationalized; services are rendered by Life Insurance Corporation of India (LIC) and General Insurance Company (GIC) along with its 4 subsidiaries. While LIC provides life insurance, GIC is concerned with non life insurance like – motor, marine, fire, health and personal accident insurance. LIC employs people in various departments – publicity and public relation department, development department, personnel department, accounts department, actuarial department, secretarial department, legal department, investment department, inspection department, mortgages department, vigilance department, foreign department, corporate planning department, building department etc.
Of late, parliament’s nod for the Insurance Regulatory and Development Authority (IRDA) bill has changed the whole scenario. With the passage of the bill, entry of Private Indian as well as foreign companies, along with existing players, in the insurance sector will add variety and quality to the present insurance services. The other positive impact would be on creation of new employment opportunities. Till now employment in the insurance sector was considered akin to any government job, but now with private participation, it will assume significant importance and probably become an exciting career option.
The finance career field includes:
• Actuarial
• Commercial banking
• Commodity trading
• Corporate finance
• Financial planning
• Forex management
• Insurance
• Investment
• Investment banking
• Money management
• Stock broking
• Underwriting
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