Career in Finance

Finance as a Career can be both highly lucrative and challenging. There is a wide spectrum of careers that can be followed:

1. Banking – Commercial & Investment
2. Corporate Finance
3. Auditing, Financial Analysis, Accountancy and Taxation
4. Stock Analyst / Broker

1. Banking

A. Commercial Banking

That banking which deals with individuals and corporates to meet their everyday banking requirements such as cash deposits / withdrawals, investment advisory, deposits, loans (housing, car etc.), credit cards, remittances (payments, Demand drafts etc.), lockers etc.

The Prospects:

• Private Sector & Foreign Banks,
• Best Companies include – HDFC Bank, ICICI Bank, Citibank, HSBC, Deutsche Bank, Standard Chartered Bank

The Job

• Retail / Consumer Banking
• Dealing with individual clients banking requirements
• Business Development and marketing for new clients
• Ensuring smooth delivery of all banking products to the client
• Staying updated and aware of changes in banks products & banking regulations
• Resolving customer issues and complaints
• Doing a credit risk analysis of clients if bank is giving loans.
• Corporate Banking
• Dealing with the banking requirements of corporate clients
• Analysing and continuously monitoring company’s performance (balance sheets, P&L etc)
• Business Development and marketing to existing & new corporates
• Structuring new products and ideas to innovatively meet clients requirements
• Ensuring smooth delivery of all banking products to the client
• Staying updated and aware of changes in banks products & banking regulations
• Resolving customer issues and complaints

Personality Traits

• Excellent interpersonal skills
• Leadership skills
• Team-Worker
• Ability to work under pressure
• Patient
• Risk taker
• High level of integrity

Career Progression

• As a fresher, one can look at starting out as an Assistant Manager with subsequent promotions to a Manager, Assistant Vice President and then Head Corporate / Retail Banking

Salaries

• The starting salary for an Assistant Manager is approximately Rs 2 Lacs per annum for a graduate and Rs 4-6 lacs per annum for a post graduate. Depending on their performance and experience, the organization in question and of course location, middle management can expect to earn between Rs 5 to 15 lacs per annum whereas an Assistant Vice President can expect to earn between Rs 20 to 30 lacs per annum. The Head of Corporate / Retail Banking commands a salary of about Rs 50 – 70 lacs per annum.

Related Finance Courses/Colleges:
Accounting Courses
Banking Courses
CA Institutes
Insurance Institutes
Securities & Trading Courses

Related Posts:
Career in MBA Finance
Company Secretary & Work Avenues
Chartered Accountancy as a career

Related Jobs:
Accounts/Finance Jobs
Banking/Financial Services Jobs
Jobs at ICICI Securities
Jobs at Tata AIG Life
Jobs at Fullerton India
Jobs at India Infoline Ltd.