here is a surge in the number of people taking up finance as a career. MBA Finance, CA, CFA and CFP (chartered and financial planner) are the courses which contain the syllabi for financial management. These courses cover topics for personal as well as corporate finance. The CFP course covers insurance planning, risk management, wealth management, investment, tax and estate planning, cash flow management, cost and management accountancy, budgeting, debt management and strategy formation for making a financial plan.
MBA (Finance) deals basically with corporate finance, such as management accounting, financial control, study of capital markets, banking and international financial management. Finance is the key to successfully run an organization and all its departments are dependent on it. That is the reason MBA (Finance) covers various financial theories, principles, models, applications, and standard corporate practices. It also trains you to design and implement the best financial strategy for your organization.
It is among the most lucrative careers globally. Apart from hefty paychecks and luxurious lifestyle financial professionals also enjoy various other benefits such as family insurance, accommodation, overseas trips and bonuses. Major financial centers such as Dubai, Abu Dhabi, Singapore, London, New York, Paris, Sydney, Melbourne, Mumbai and various other destinations offer enviable jobs in finance. They require professionals who know tax planning, corporate valuation, international finance, foreign exchange trading, auditing, statement reporting and presentation, and financial services analysis.
Investment banking is also an emerging field and there are lots of opening in this segment apart from regular jobs in the corporate sectors such as finance managers, analysts, accounts manager, financial controllers, and chief financial officers (CFOs). Banking sector employs people in treasury, auditing, cash management, risk management, Investment banking, insurance, credit management and financial consultants.
Apart from banks, financial consultancies, FIIs (foreign institutional investors), mutual fund operators, debt fund companies and government agencies also recruit professionals in these fields. Merchant banking and corporate finance are other fast emerging fields. You can open your own company dealing in financial consultancy, auditing or tax planning services.
In India, majority of institutes offering courses in financial management require you to pass the CMA entrance test, aimed at assessing the accounting knowledge of the individual. To prepare for this exam, you can brush up your knowledge of commerce, mathematics and economics, gained during your academics.