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A PROFITABLE CAREER
Employment
opportunities for finance professionals are immense and will grow if the
industry grows
There is a potential source of confusion regarding careers in finance. On
one hand, there is a function called finance that is common to all business
enterprises, in every industry. On the other, there is a financial services
industry. Additionally, note that the finance function is but one of many
possible career paths within the financial services industry.
There are career opportunities in various areas
like commercial banking, forex management, investment banking, wealth
management, financial planning, corporate finance, financial research and
so on.
THE FINANCE CAREER FIELD INCLUDES:
CORPORATE FINANCE
In corporate finance, you would work for a company to help it find
various sources to raise finance, grow the business, make acquisitions, plan
for its financial future, manage any cash in hand and ensure future
economic viability.
INVESTMENT BANKING
Investment banks help companies and governments issue securities, help
investors purchase securities, manage financial assets, trade securities
and provide financial advice.
COMMERCIAL BANKING
Commercial banks serve large corporations, small businesses, as well as
the general public. Despite recent consolidation in commercial banking, the
industry continues to provide more career opportunities in finance than any
other sector in the financial services industry.
FOREX MANAGEMENT
Indian companies have been increasingly attracting foreign capital
either through listing on international stock exchanges or through private
equity placements. Companies that wish to access markets for capital or
become leading global suppliers to corporations in developed markets have
to hedge forex exposure.
The forex treasury division in banks offers a full
range of vanilla and derivative products in forex, interest rates and
commodities. These include spot, forward, swaps, currency options, interest
rate derivatives, commodity futures and options in addition to high yield
structured deposits linked to currencies, interest rates and commodities. Several
companies are looking for professionals who understand the nuances of
international finance, international capital markets and risk management.
MONEY MANAGEMENT
Money managers purchase and carry corporate bonds, agency securities,
asset-backed securities and other fixed-income investment products. Some
specialise in small stocks, large cap funds, fledgling markets, and other
equities.
FINANCIAL PLANNING
Financial planning helps people make advance provision for financial
needs that may arise in the future.
The Chartered Financial Planner (CFP) course is
presently offered in India by two authorised education providers of the
Association of Financial Planners (AFP). Alternatively, an
MBA/CFA/CA/Insurance specialisation - singularly or in combination, would
also give you a broad understanding of the various investment instruments
and options, and their implications.
STOCK BROKING
Brokers or stock market professionals are now either playing host to
foreign investment bankers, who are looking for opportunities on the Indian
stock market, or visiting fund managers abroad seeking investment here.
Stock market houses are redefining themselves and the business of stock
broking is highly visible today. Communication links between the dealing room
and the trading ring are being improved.
COMMODITY TRADING
Commodities trading is a global phenomenon and offers tremendous
potential to market participants for both profit taking on small price
corrections as well as to hedgers looking at managing price risk on account
of price fluctuations. In developed markets, futures trading is
conservatively ten times the size of cash market in commodities. If we
consider the fact that in the US, the futures trading is almost 20 times
that of the cash market production, it would only be fair to suggest that
our futures market would be a very large and deep one, easily many times
more than that of the securities market.
INSURANCE
Apart from career opportunities available with insurance companies,
employment avenues are also open in the corporate sector, stock broking
firms, finance companies, shipping companies,
etc. With private participation in the insurance sector, the number of
employment opportunities has gone up.
REAL ESTATE
Real estate is collateral for mortgages and a large amount of financial
assets. Identifiable real estate fields are mortgage banking, property
management, real estate appraisals, brokerage and leasing, and real estate
development.
- ,Sudhir Dhar .. is associate director and head HR, Motilal Oswal
Financial Services Ltd TAS 131218
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