The financial service careers are in great demand in today's world. A career in financial services includes various areas like corporate banking, money management, investment banking, real estate and financial planning. However, the financial service is needed in almost all organizations. Every individual needs financial security in the future or may need money in large amount, and in today's world borrowing of money would a major risk. So the banks offer home loans, vehicle loans, etc.
In the financial services careers there are different tasks that are carried out depending on the type of finance industry. They are as follows:-
Other tasks are given below:-
Qualification:-
To enter the financial service career, the basic qualification needed for most of the jobs is a bachelor's degree in any discipline. The bachelor's degree in finance, business or economics is needed to become financial manager. However, a master's degree with specialization in finance, economics, risk management or even a chartered accountant is mostly preferred in many for senior positions. A person with Masters in Business Administration (MBA) with specialization as finance will have a bright future in financial services career. The knowledge of second language is an added advantage.
Other necessary skills:-
To get into Financial services career, following skills are necessary:-
Place of work:-
In the financial services careers, most of them work in government agencies or banks and financial institutions. They mostly work 40 hours a week. The financial consultants may spend their time with clients and in offices.
Job Opportunities:-
Financial services are needed in almost all companies and industries. Thus the financial services careers are in great demand and are needed in most of the areas like:-
Remuneration:-
In the financial services career a good salary is expected for most of the jobs. However, salary also depends on the type of industry, the type of work and location. The salary in large organizations is comparatively better than small-scale organizations. The salary for managers like branch manager, marketing manager, portfolio manager, and finance manager is expected to be good in the market. Especially those with a master's degree can expect a good salary package.
Job Progress:-
The starting point for financial services careers in corporate finance job is a financial executive. With years of experience they can become financial analysts or internal auditors. In commercial banks there are different positions available such as loan officers, operations, marketing professional, and finally branch manager.
Those working in Hedge funds are mostly financial analysts, traders, quantitative analysts, regulatory compliance officers etc. With the years of experience and increase in skills they get promoted as Marketing manager or portfolio manager.
In Insurance companies fresh graduates can begin with their career as a sales representative or customer service representative. Then can become Actuary of Insurance Agent.
Some can also become financial consultants.
Employment forecast:-
The financial services careers employment is expected to grow faster than the average of all occupations. The finance jobs in banks is about to grow faster in coming years. The demand for jobs in banks is about grow faster because they are focused on the growth of existing branches and create new ones to serve the increasing number of population. However, fresh graduates may face a strong competition as more number of students pass every year. Those with master's degree and knowledge of computer skills and international business can expect good opportunities in large organizations with a fairly good package. With the need of investment and saving money for the future security, the financial consultants will be needed in future to guide the people.
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