People with strong attention to detail and analytical minds are well-suited for rewarding careers in finance. Although financial forecasting and investing for clients and businesses are still common responsibilities in many positions, this field offers many roles beyond trading on the stock exchange floor.
An economy's ability to carry out its development and growth activities depends heavily on the finance sector. We've put together a list of post-degree career options in finance to assist you in understanding industry standards and navigating a variety of finance career paths to discover the ideal fit for you!
There are many career options available for finance professionals across various domains and industries. Here are some potential career paths that finance professionals can explore:
Top 10 Career Paths for Finance Professionals
1. Investment Banking:
One of the most prestigious career paths in finance is Investment Banking. In terms of pay and opportunities for professional advancement, it is also a profitable route. Investment banking professionals handle financial remodeling-related tasks.
Working with data and statistics, they present choices that enhance business operations. These professionals need to be interested in financial markets and economic trends, as well as possess insightful knowledge of them.
They analyze markets, structure deals, and provide strategic guidance to corporations and governments. The role involves client relationship management, underwriting, and navigating complex regulatory environments.
Investment bankers work in high-pressure environments, often requiring long hours. Strong analytical skills, financial acumen, and effective communication are essential in this dynamic field.
2. Corporate Finance:
A branch of finance called "corporate finance" deals with funding for commercial endeavors. It addresses capital restructuring, investment choices, and funding sources. The following are essential job duties in this field:
- Maintaining a balance between risk and profitability
- Examining and projecting trends in the economy
- Examining corporate reports and making recommendations for improvement
- Maximizes the stock's value
- Investing portfolio selection and money management
- Carrying out financial risk management-related tasks
Depending on their interests, acquired skills, and educational background, corporate finance professionals are hired in junior and senior roles. It would be expected of you to have a knack for numbers and to use them to manage finances, optimize return on investment, provide clever budgetary solutions, etc.
3. Accounting:
Accounting is a core component of finance and a popular career choice for finance professionals. It is a broad discipline that encompasses many different financial services. In general, it deals with keeping track of and documenting the financial transactions of a private or public organization.
In addition to providing reports and recommendations, public accountants also work to reduce costs, increase revenue, and enhance financial stability.
As an accountant, you can work internally to assist companies in organizing their finances, determining the safety of their investments, and creating projections to meet long-term objectives. There may be job openings in certain accounting firms, the commercial or private sector, or both.
4. Private Equity:
Private equity (PE) refers to stock in a private company that is not available to the general public in the finance industry. Rather, limited partnerships and specialized investment funds that actively participate in the management and structuring of the businesses are given access to private equity.
Informally, these investment firms are referred to as "private equity" instead of the businesses they invest in. Private equity firms invest the money they collect on behalf of the fund’s investors, usually by taking controlling stakes in companies.
5. Hedge Fund Management:
Hedge funds are investment funds that employ various strategies to generate high returns. As a hedge fund manager, you'll be responsible for managing the portfolio, analyzing market trends, and making investment decisions.
A hedge fund manager is a person or financial institution who oversees the management, investment decisions, and day-to-day operations of a hedge fund. Because hedge fund management has such high earning potential, it can be a desirable career choice.
A hedge fund manager needs to think about how to establish and preserve a competitive edge, a well-defined investment strategy, sufficient capitalization, a plan for marketing and sales, and a risk management approach to succeed.
6. Risk Management:
In risk management, you'll be responsible for identifying, assessing, and mitigating risks associated with financial transactions. This may include credit risk, market risk, operational risk, and liquidity risk.
Experts in risk management are skilled at spotting bad investment returns and market hazards. Their main responsibility is to strategically minimize risks and maximize returns. They use their aptitude for mathematics and critical thinking to accomplish this, offering their clients business advice on a range of topics.
Consider earning a graduate degree, such as an MBA or PG Diploma in Risk Management, if you're looking for work in the field of risk management. Look into the certificate programs that the Risk Management Association of India (RMAI) offers as well.
7. Financial Planning and Analysis:
To ensure their present and future financial stability, people and businesses need the services of financial planners. Examining cash flows and financial statements as well as developing strategies for investing and saving money to meet the needs of clients are all part of a career in financial planning.
Making strategic business decisions through the analysis of financial data is the goal of financial planning and analysis. Financial modeling, budgeting, and forecasting may be part of this.
8. Wealth Management:
A broad range of clients, including wealthy, high-net-worth (HNW), and ultra-high-net-worth (UHNW) individuals and families, are served by wealth management (WM) or wealth management advisory (WMA), an investment advisory service.
A comprehensive service, wealth management helps mid- to high-net-worth individuals increase their wealth, control their liability exposure, and plan how to leave their assets to their chosen heirs.
Unlike working with an advisor focused exclusively on financial planning or investment management, wealth management services take a comprehensive approach to the financial situation of higher-net-worth clients.
9. Investment Management:
Making decisions about investments is known as investment management. It entails investigating, picking, and keeping an eye on a portfolio of assets that align with the objectives, risk tolerance, and time horizons of an investor.
For people or organizations seeking to increase their wealth, investment management includes a broad range of investment options, from stocks and bonds to real estate and other asset classes.
Investment managers offer professional guidance on managing your investments for maximum returns by accounting for a variety of factors, including liquidity, market conditions, tax implications, and more. Investment management can help you make the most of your money now and in the future, regardless of whether you are an individual investor or an institution looking for a professional advisor.
10. Consulting:
Financial advisors collaborate with their clients to gain a deeper understanding of their assets and their goals for going forward.
A financial consultant, for instance, can offer advice on the kind of retirement account to open, suggest particular investments, and address concerns regarding the appropriate amount to save if a client wants to save for retirement but is unsure how to go about it.
Financial consultants may be able to help clients with more specialized needs like tax preparation and insurance, depending on their education, experience, and certification level.
These are just some of the many career options available to finance professionals, and each career path may require different qualifications, certifications, and skills.
After grade 12, choosing a degree that will open up a variety of career options is a crucial but difficult task. When pursuing a B.Com, many students are drawn to enroll in Chartered Accountancy (CA). However, this temptation frequently results in failures and years wasted.
Students must realize that conventional courses like CA are not necessary for a prosperous career in the modern world. Employers' requirements for expertise and skills have changed significantly along with the expansion of business needs.
Companies look for specialized knowledge in the applicants they hire to improve work allocation and boost productivity.
Top Careers after Commerce Other than CA
If you are a commerce student who is unsure of your career path after grade 12, we have put together a list of options, except for CA. Having graduated is advantageous when looking for work.
1. Certified Management Accountant (CMA)
The Institute of Management Accountants in the United States offers the advanced professional designation known as CMA (IMA). It is a widely recognized credential that will improve your employability in the business, accounting, and finance sectors. The CMA program takes between 6 and 9 months to complete, unlike CA.
Eligibility
- For the IMA to award the CMA certification, you must hold a graduate degree in any field and pass both US CMA exams.
- If you pass the grade 12 exams in India, you may also pursue this degree.
2. ACCA
The ACCA certification is useful both domestically and internationally. It is recognized in more than 180 nations, including Singapore, Canada, and the United Arab Emirates. The 13 courses offered by ACCA are further divided into knowledge, skills, and professional levels.
Eligibility
- If they pass their 10+2 exams, students can enroll in the ACCA program.
- Students must score at least 50% in all other subjects and 65% in English, maths, or accounting.
3. Company Secretary (CS)
India has a high demand for CS courses. While most students enroll in the company secretary course as part of their undergraduate studies, many do so right after they finish high school.
Eligibility
- Students must have earned their 10+2 diploma from an Indian board that is recognized in any discipline other than the fine arts.
- The minimum requirements for the Executive level are CSEET or graduation from/a foundation program.
4. Chartered Financial Analyst (CFA)
Globally, a CFA course is in high demand. This certification relates to investments and finance. The course is divided into three levels, with Level 1 serving as the most crucial level as it lays the groundwork for the other levels.
Eligibility
- Students may now register for the Level I exam if they have two years left in their undergraduate studies.
- a first-year degree is required before applying for CFA level 2
- a four-year degree plus four thousand hours of professional experience.
5. Accountant for Cost and Management
A CA or CS degree course and cost and management accounting have many similarities. Key ideas like strategy, financial reporting, management, and regulatory framework are vital to the success of this professional degree. A cost management accountant provides knowledgeable assistance with profit management, general managerial decision-making, and investment planning.
Eligibility
- A candidate for cost and management accounting must have passed the 10th grade or a test of equal difficulty.
- If they have completed their 12th grade in India from a recognized board, they may also enroll in this course.
6. Actuary
A combination of strong analytical skills, business savvy, and an understanding of human psychology is required to become an actuary. The ability to use maths and statistics is a requirement for becoming an Actuary. Actuaries evaluate financial risks, particularly those associated with insurance, by using mathematics, statistics, and financial theory.
Eligibility
- Students who want to study actuarial science must be 18 years old.
- They must have completed their 10+2 through an accredited board.
- One of their main subjects must be mathematics.
7. Financial Risk Managing (FRM)
To protect an organization's financial worth, financial risk management uses financial instruments to control exposure to financial risks, specifically operational risks, credit risks, and market risks.
Eligibility
- Candidates must have achieved a cumulative 50% on their grade 12 exams.
- Financial Risk Managers can also be obtained by candidates with a bachelor's degree.
The careers after commerce listed above demonstrate that you can succeed professionally even if you veer off the beaten path. These highly sought-after career options will open up lucrative professional opportunities for you.
Thank you!
