Important Facts
College Vidya Team Jan 11, 2025 1.5K Reads
Starting a career in finance can be a fruitful step forward for those interested in domains related to economy, financial management, financial growth etc. The field of finance is a well-developed domain to explore a career in and there are a vast number of choices of jobs and career paths to choose from in it.
If you are also someone who is searching for or pondering over developing a career in finance and are confused as to which domain to venture into, then this blog
will provide you an easy navigation through some of the top career domains in this field along with pertinent details about the job salaries, top recruiters in the field, benefits of a career in finance and courses to upskill in this domain effectively.
Enlisted below is a table that summarises the major well-regarded career options in the field of finance. You May Interested | MBA Online Course In Finance!
Job Profile |
Average Salary (p.a.) |
Top Recruiters |
Chartered Accountancy (CA) |
INR 8.72 LPA |
Standard Chartered, Deloitte, Ernst & Young, KPMG etc. |
INR 8.80 LPA |
JP Morgan Chase, Morgan Stanley, ICICI Bank, Kotak Mahindra, HDFC Bank, Goldman Sachs, Wipro, McKinsey and Company |
|
Financial Analyst |
INR 4.86 LPA |
Accenture, Deloitte, Morgan Chase, eClerx, Ernst & Young, JP Morgan & Chase Co |
Financial Risk Manager |
INR 10.41 LPA |
Amazon, ICICI Bank, JP Morgan & Chase Co, HSBC |
Public Accountant |
INR 6.90 LPA |
Deloitte, PwC, BDO India, Ernst & Young, KPMG, Grant Thornton International |
Corporate Finance Officer |
INR 5.35 LPA |
Deloitte, KPMG, PwC, Boston Consulting Group, McKinsey & Company, Ernst & Young |
Hedge Fund Manager |
INR 9.81 LPA |
Elliott Investment Banking, Citadel, Goldman Sachs, Yes Bank, Standard Chartered |
Wealth Manager |
INR 7.20 LPA |
Edelweiss, ICICI Bank, State Bank of India, Bajaj Capital, Yes Bank, Axis Bank |
Insurance and Claims Officer |
INR 5.22 LPA |
Yes Bank, ICICI Bank, HDFC Bank, Axis Bank |
Private Equity Associate |
INR 8.27 LPA |
ICICI Venture, ChrysCapital, Bain Capital, Matrix Partners, IDFC First Bank |
The field of finance is central to the development of the economy for any organisation, region or nation. As a result, it is one of those career fields which won’t go obsolete in the future.
While there are many career options and domains available to choose from, finance is one of the most alluring fields to students and professionals alike.
But why is a well-established career in finance so appealing? What are the benefits associated with going for a career in finance? Here, we have enlisted a few of the reasons that account for why finance is such a highly chosen career domain.
The finance industry is constantly shifting shapes and evolving to venture into new avenues and carve out new career paths for finance professionals. Due to the dynamicity of this field, many students and professionals prefer to venture into the field for opportunities of career growth and exploration of novel career avenues.
Since the industry of finance is ever-evolving and quite dynamic, it is finding new use cases and new modalities of operations continuously. As a result, new job domains are emerging in this field in addition to a diverse avenue of existing career paths and job options. This makes finance one of the most flexible and appealing industrial domains for developing a career in.
The job domain of finance is not only well-paid but also offers scope for career growth. The field being dynamic and evolving, students and professionals get multiple opportunities to upskill themselves as well as climb up their career ladders with experience. This comes as an added benefit for those seeking intrinsically motivating jobs that allow for the development of one’s self and career and prevent stagnation.
When it comes to establishing a successful and meaningful career, the pay and compensation is understandably a crucial deciding factor. Finance is a well-established career domain in India and abroad and owing to its centrality in the very development of the economy, is highly compensated. The job roles in financial fields are not only highly paid but also very fairly compensated with respect to perks and other benefits.
Finance is one of the fields that is expected to remain ever viable and relevant owing to its fundamental role in the running and management of the economy and commercial activities. Thus, as a field of career development, it is quite a safe and promising option since the field is expected to transform radically and expand to unchartered avenues in the future.
Thus, it can be seen that finance is quite promising as a career field and can be quite beneficial to one’s career journey. There are a number of highly regarded job roles and domains that can contribute to the meaningful growth of one’s career. You May Interested | MBA Online Course In Banking and Finance!
Read more to find out some of the most valued career domains in finance and other pertinent details related to them.
Chartered accountancy is one of the most valued careers related to finance and commerce in India and abroad. It is also one of the most challenging qualifications to complete, as it involves a rigorous course curriculum. The key aspects of the job of a CA include updation and auditing of accounts, preparation of financial reports and statements of organisations, income statements etc. This field is very well-paid and with significant scope of career growth.
Investment banking is one of the most lucrative and valued job roles in the financial sector. It is concerned with the support provided by the investment banker with respect to consultation, data driven insights and smart decisions about investments to companies. It is a greatly revered field for career development among commerce students and professionals. The field is highly paid and students can experience significant growth rates in investment banking with growing years of experience.
A financial analyst is a professional who manages and prepares detailed yet comprehensible financial reports of a company’s funds, investments, sales, business trends etc. Financial analysis is among the top paid job roles in the field of finance. This requires the student/professional to possess skills related to financial reporting, financial modelling, operational efficiency etc.
Financial risk managers are concerned with the research, identification and mitigation of the various financial risks that a company or business unit is likely to face. A financial risk manager occupies a consultant position in the organisation who analyses the financial data of the company in addition to their investments, sales record data, financial statements etc. to develop detailed financial reports that capture the financial risks for the company and then work collaboratively with the major stakeholders to develop risk mitigation plans. This job domain is quite fairly compensated and also of great strategic importance to organisations, hence adding significant scope of career escalation for the professional.
The field of public accounting is related to providing financial and accounting assistance to individuals, teams or enterprises on a one-on-one clientele basis. Public accounting is concerned with a variety of tasks, ranging from financial advisory in case of mergers and acquisitions, to preparing financial reports based on regular financial auditing. This job role is a prominent upcoming domain that allows for working with a diverse range of clients, providing excellent exposure and insights to the client.
A corporate finance officer is concerned with all the major handlings related to finances and accounting in a corporate setup. The job responsibilities of a corporate finance officer range are quite vast and can range from identifying the risks and profits for a corporate house, preparation of and reviewing of financial reports, funds management, financial risk analysis etc. The scope of this domain sprawls from small corporate houses in the private sector to the corporate giants of the world.
A hedge fund manager is concerned with the management and maximisation of profits of hedge funds or collective pooled funds to ensure high return on investments to the shareholders. In this regard, hedge fund managers have a similar responsibility like investment bankers, but specifically limited to collective funds, or hedge funds. This is one of the most highly paid job roles in the field of finance.
Wealth management is a novel and freshly emerged area of commerce and finance that is related to the management of the wealth and assets of individual clients. Developed in response to the growing complexities of wealth management for individuals in recent times, the profession of wealth management brings together a vast number of financial services from domains like accounting, account management, investment banking, estate management and planning etc. into one consultative job domain. The field is accordingly paid quite well, with packages growing manifold with experience of the professional.
A job role relating specifically to the field of insurance services, an insurance and claims officer is concerned with the effective management of insurance claims made by the insurers after evaluation of whether the claim disputes are authentic and whether the company is legally required to resolve those claims. This job domain is quite high-stakes, both from the perspective of the clients and the insurance firm, and hence requires the officer to also train insurance agents to effectively manage customer relations.
Private equity or PE is a domain related to investment banking that is concerned with advanced financial consultancy to firms and clients. The major task of PE revolves around the acquisition of companies to maximise their financial performance for consequent sale of their profits. A few of the key aspects of the job role of a private equity associate include preparation of detailed financial analysis, financial modelling, due diligence testing etc. Being a profile above investment bankers, a certain period of experience is required before a finance professional can venture into this field.
In today’s fast-paced industrial world, the need of the hour is to have efficiency and working knowledge of your field of interest. Hands-on skills are central to making oneself stand out among the crowd of contemporaries and build a successful career.
Finance being a field requiring both sound foundational knowledge and practical hands-on skills and competencies, an aspirant of finance needs to seek formal education in the subject to grow professionally. Whether in the long-term or short-term format, a formal qualification in finance can add a leverage to one’s resume and contribute effectively to their professional skills set.
Here we have tabulated some of the most fundamental courses that an aspirant of finance can seek to start a career in this field.
Bachelor of Commerce (B.Com) Online |
Bachelor of Business Administration (BBA) in Finance |
Bachelor of Commerce (B.Com) in Accounting and Finance |
Bachelor of Commerce (B.Com) in Banking and Finance |
Bachelor of Commerce (B.Com) in International Finance |
Bachelor of Commerce (B.Com) in Auditing and Taxation |
Master in Business Administration (MBA) in Finance |
Master in Business Administration (MBA) in Financial Market Management |
Master in Business Administration (MBA) in Banking, Financial Services and Insurance |
Master in Business Administration (MBA) in Fintech Management |
Executive Courses in Financial Risk Management |
Executive Courses in Business Finance |
Certification Course in Fintech |
Certification Course in Technological Banking and Financial Services |
Certification Course in Debt and Money Market |
Master in Business Administration (MBA) in Wealth Management |
There are certain core skill sets which are essential to thrive in any career. Before venturing into a career field, it is a good practice to evaluate one’s aptitude and skills to assess if they are a good fit for a job role in the field of finance.
Here are some of the key skills and competencies that can help a student or professional excel in a career in finance.
With the aforementioned skills, it is much more likely for an individual to thrive and grow in a field related to finance. Evaluation of one’s skill set and aptitude is important before venturing into any career-field. Professional guidance and expert mentorship can ease this journey by leaps and bounds, and hence, it is essential that aspirants of finance, especially students, get professional guidance when confused about venturing into the field since professional and unbiased guidance is invaluable to a successful career journey. [Also Read | What Is Career Counselling?]
Thus, it can be seen that the field of finance is not only highly revered but also among the most fairly compensated in modern times. The job roles in this field are diverse and offer scope for excellent career development trajectories. A student interested in venturing into a career in finance can accordingly grow their knowledge and upskill themselves through short-term and long-term courses in the subject.
A few of the highest paid careers in finance include investment banking, hedge fund management, chief financial officer (CFO) etc.
Developing a successful career in finance right after class 12th is a challenging task since a student completing school education has beginner level knowledge and skills in finance. This usually results in access to entry level job positions, with little scope for career escalation. Thus, it is advisable that a student after completing class 12th venture into further education, either in the long term (e.g. through degrees) or short-term (through certifications and diplomas).
For individuals wanting to gain professional experience, innovative options like hybrid degrees and fully online courses are also available that allow for continued studies while working, even after class 12th.
This depends upon the specific field that the person wishes to venture into. Certain courses and fields may require the candidate to have a sound knowledge in fundamentals of commerce and finance, which requires a formal qualification in commerce. However, there are a number of fields and courses that do not mandate a commerce background, e.g. an MBA in Finance, a CMA degree etc.
A career in commerce can be quite rewarding to those having an interest and aptitude in this domain. The field is dynamic, offers diverse options for career development, is fairly compensated and evolving to incorporate up and coming job domains.
Some of the highest paying jobs in the financial sector include those like investment banking, corporate finance, hedge fund management, financial consultancy and risk management, equity management etc.
Investment banking, financial analysis, financial consultancy, corporate finance etc. are some of the top career options in finance in India. A fresher in these fields can earn anywhere between INR 7 LPA to INR 10 LPA in these fields.
To start a career in finance, the most fundamental and popularly chosen course is a B.Com. Other popularly chosen courses to start careers in finance include an MBA in finance, an M.Com, CMA, CFA etc.
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