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Finance - scope, careers, colleges, skills, jobs, salary

Everything you need to know about making a career in the Finance. Finance careers, scope, colleges, skills required, job prospects and salary. Discover the complete information of Finance here.

About Finance


Finance - scope, careers, colleges, skills, jobs, salary

Definition

Finance is not merely about making money. It’s about achieving our deep goals and protecting the fruits of our labor. It’s about stewardship and, therefore, about achieving the good society.” ~Robert J. Shiller

Finance describes the management, creation and study of money, banking, credit, investments, assets and liabilities that make up financial systems, as well as the study of financial instruments. It can be divided into three categories: public finance, corporate finance and personal finance.

Finance Career Path


B.Com. (Banking and Finance)/B.Com. (Financial markets)/BBA (Banking and Finance)/B.Sc. (Banking and finance)/B.Voc. (Banking and Finance)
LevelUnder-Graduate
Duration3 years
EligibilityStudent should have passed 10+2 or equivalent exam in any stream from a recognized board, For some colleges the student needs to have a specific minimum percentage in 10+2
Entrance Exam--
Specialization--
Average Course Fee₹50,000 to ₹5,00,000
ModeRegular/Distance
GoalFinancial Analyst, Financial Controller, Chief Financial Officer, Commercial or Investment Banker, Real Estate or Insurance Finance Manager
M.Sc. (Banking and Finance)/M.Voc (Banking and Finance)/MBA(Finance)
LevelPost-Graduate
Duration2 years
EligibilityGraduate in any stream with minimum 50% marks (the passing marks in graduation may vary from college to college), Some colleges ask for mathematics at the intermediate level or during the first year of graduation, In most of the colleges, candidates appearing for the final semester exams can also apply.
Entrance ExamCAT (Common Admission Test), XAT (Xavier Aptitude Test), GMAT (Graduate Management Admission Test), MAT (Management Aptitude Test)
Specialization--
Average Course Fee₹1,00,000 to ₹15,00,000
ModeRegular/Distance
GoalAccounting Manager, Chief Financial Officer, Cash Manager, Consultant, Investment Banking Associate, Credit Manager, Financial Analyst, Corporate Controller
Ph.D. (Finance/Banking and Finance)
LevelDoctorate
Duration3-6 years
EligibilityMaster’s degree or equivalent PG Diploma in a relevant discipline, Candidate must have secured minimum 55% marks (which may vary from university to university) in M.Com./M.Phil./MBA, from a recognized University with 5% relaxation for OBC/SC/ST and Persons with Disability. Some universities ask for work experience in the related field.
Entrance ExamDET (Diploma Entrance Test), BITS Pilani entrance test (Birla Institute of Technology and Science)
Specialization--
Average Course Fee₹30,000 to ₹4,00,000
ModeRegular
GoalProfessor/Lecturer, Researcher/Research Fellow, Government Economist , International Careers (working in World Trade Organization, International Monetary Fund, World Bank etc.)

Colleges for Finance


  • Balaji Institute of International Business, Pune
  • Indian Institute of Management (IIM), Indore
  • Institute for Financial Management and Research (IFMR), Andhra Pradesh
  • Institute of Management Technology, Ghaziabad
  • Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai 
  • Management Development Institute (MDI), Gurgaon
  • N. L. Dalmia Institute of Management Studies and Research (NLDIMSR), Mumbai
  • S.P. Jain Institute of Management & Research (SPJIMR), Mumbai
  • SDM Institute for Management Development (SDMIMD), Mysore
  • Symbiosis Centre for Management Studies, Pune
  • Symbiosis International University, Pune
  • T.A. Pai Management Institute (TAPMI), Manipal
  • Xavier Institute of Social Service (XISS), Ranchi

Top Colleges for Finance


Scholarship / Fellowship in Finance


  • Women in Finance Scholarship by AIWMI
  • Indira Gandhi Scholarship for Single Girl Child
  • Post-Graduate Merit Scholarship for University Rank Holders
  • NCERT Doctoral Fellowships
  • Different institutes also award scholarships to various students based on certain criteria.

Finance Key Skills


Accounting Skills

Accuracy and Precision

Analytical Skills

Commercial Awareness

Communication Skills

Finance & Policy Development

Flexibility

Focus and hard work

Innovative Skills

Interpersonal Skills

Management Skills

Organization & Time Management

Problem Solving

Finance Career Prospects


  • Asset Manager
  • Corporate Financer
  • Credit Risk Manager
  • Treasury Manager
  • Financial Analyst
  • Financial Manager
  • Personal Financial Advisor
  • Financial Services Sales Agent

Jobs in Finance


  • Asset Management
  • Corporate Finance
  • Corporate Banking
  • Credit Risk Management
  • Derivatives Structuring
  • Hedge Fund Management
  • Private Equity
  • Treasury

Salary in Finance


Like in any other field the remuneration in this field depends on qualification, experience and area in which one works. One could get an initial pay of ₹10,000 which can go up to ₹70,000 per month as one gains experience in the related field.

Finance Role Models




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