Banking & Finance

Top 7 Career Options in Banking and Finance

The role of finance is fundamental in carrying out an economy’s growth. To understand the basics of finance, it is best to enroll in Professional Banking Courses such as a PG Certificate Programme in Banking & Financial. As part of the curriculum, most study programs include project work and internships. These pathways are sure to provide a substantial head start by facilitating several opportunities for learning and networking.

Senior-level finance positions would require a combination of professional acumen, technical expertise, and managerial skill set. PG Certificate Programme in Banking & Financial is the most sought-after professional banking and financial program offered by IIM Trichy. Furthermore, there are various certifications available for those who seek to propel their professional career. Find out more about the advantages of the PG Certificate Programme in Banking & Finance for working professionals.

Professional Banking Courses for a Rewarding Career

Choosing the perfect professional path is challenging because so many choices can be overwhelming at times. To overcome your career dilemmas, check out the compiled list of the Top 7 Banking & Finance Career Options.

  1. Chief Financial Officer (As per PayScale-Average Salary: 34 Lakhs Annually)

Standing at the first position with a whopping average salary of 34 lakhs per annum is the: Chief Financial Officer (CFO). While the role of a CFO is required in virtually every company, there are the most outstanding prospects for a career in the Retail and Banking sectors. 

Responsibilities of a CFO 

A Chief Financial Officer is a senior-level executive of a corporation who oversees and monitors the organisation’s financial operations. A CFO’s primary responsibilities include capital structure decisions and tracking an organisation’s cash flow. A Post Graduate Certification Programme in Banking and Finance is a bonus for career advancement when vying for the position of Chief Financial Officer.

  1. Chief Risk Officer (CRO) (As per PayScale-Average Salary: 25 Lakhs Annually)

Another sought-after and high-paying position in finance in India is Chief Risk Officer (CRO), albeit if you are starting, you will have a long way to go to reach this position. With an average monthly pay of 25 Lakhs INR, it is one of the most rewarding careers in India.

Responsibilities of a CRO

They are in charge of identifying, assessing, and mitigating internal and external risks such as an organization’s regulatory, competitive, and technical challenges. The CRO position demands a bachelor’s degree in finance and an advanced degree, such as a PG Certificate in Banking and Finance  Services, and about a decade of business experience.

  1. Financial Actuary (As per PayScale-Average Salary: 10-12 Lakhs Annually)

Financial Actuary is the third-highest paid job on our list, with 10 – 20 lakhs annual compensation. They apply statistics, mathematics, and economic models to estimate an organization’s financial cost risks and uncertainty.

Banking & Finance

Responsibilities of a Financial Actuary

Financial actuaries employ statistical models to evaluate historical data and forecast future events. Financial actuaries’ jobs include calculating insurance premiums, investment strategies, and retirement plans.

In addition to a Bachelor’s degree in mathematics/statistics/economics or an MBA in Finance/ CA, aspirants must pass the tests administered by the Institute of Actuaries of India (IAI) and have at least three years of relevant experience, in addition, doing professional banking or finance courses will be a bonus to the profile.

  1. Hedge Fund Manager (As per PayScale-Average Salary: 15 – 20 Lakhs PA)

Hedge Fund Manager is another advantageous career option in finance in India. It is one of the fastest-growing careers, with a high need for qualified candidates. Although an entry-level Hedge Fund Manager makes roughly 8 to 10 lakh rupees per annum, with the right skills and experience, they may annually earn up to 25 lakh rupees.

Responsibilities of a Hedge Fund Manager

Hedge Fund Managers evaluate the capital market and devise strategies for investing a group of high-net-worth investors’ financial assets. Its objective is to maximise returns on investment while minimising investor risk. 

  1. Private Equity Associate (As per PayScale- Average Salary: 10 – 15 Lakhs Annually)

Another highly rewarding and in-demand position in finance is that of a private equity associate. Private Equity Associates are responsible for managing deal transactions from start to finish. The income ranges from 15 to 20 lakhs per year, depending on the size of the equity company.

Responsibilities of a Private Equity Associate

Private equity companies hire them to conduct research and monitor data, help identify investment opportunities, and raise external investors’ funds. The role requires a bachelor’s or master’s degree in economics, finance, or accounting. Although a CFA qualification is not necessary for Private Equity Associates, it does boost their chances of being hired so does a Certificate Course in Banking and Finance.

  1. Investment Banker (As per PayScale-Average Salary: 10 Lakhs Annually)

Investment bankers advise business clients and, in some contexts, governments on financial matters. 

Responsibilities of an Investment Banker

Investment banks handle mergers and acquisitions and generate capital for their clients through Initial Public Offerings (IPOs), stock issuance, and debt arrangements.

  1. Financial Analyst (As per PayScale-Average Salary: 4 – 5 Lakhs Annually)

A financial analyst is needed in almost every industry, but they are particularly in demand in the banking and insurance industries. Financial analysts help businesses make informed investment decisions by analysing financial data.

Responsibilities of a Financial Analyst

Generating financial forecasts and monitoring operational metrics is one of the primary tasks. Besides, developing an economic model to aid decision-making and assessing financial data.

To summarise, you should be excited at the opportunities that await you. So pick your mission, be determined, and leap toward success! Check out IIM Trichy’s PG Certificate Programme in Banking & Finance to propel your career forward!

Banking & Finance

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Nidhi Parikh
Senior Content Writer, Jaro Education

An advocate of Content marketing and PR specialist in domains such as EdTech, Data Science, Business Management, Digital Marketing, FinTech and much more. She thrives to dig into the nuances of programs, pedagogical and research models for presenting an ideal career prospect. The author wishes to advance racial equity, helping future leaders invest in the best educational foundation —drive transformational change to achieve the next critical step in their careers.