Career Options in Financial Services

All kinds of services provided by the finance industry to the common man are known as financial services. To understand more about financial services, it is first important to know about the various organizations which fall under this expansive industry of India and worldwide. The finance industry comprises banks, stock brokerages, credit unions, insurance companies, consumer finance companies, investment funds, credit card companies and public enterprises. The financial service department is a very important segment in all the above mentioned industries and therefore the demand for financial advisors and financial counselors is also high.

Eligibility Criteria to Secure Job in Financial Services

The minimum educational qualifications required for securing a position as financial consultant are:

  • Graduation in Commerce or
  • Graduation in economics or
  • Graduation in Finance or
  • Graduation in Mathematics and
  • Graduation in Management / MBA

A post graduation degree in management from business schools of repute in India is an added advantage in the financial services industry. Sales & Marketing or Finance should be compulsory subjects during your MBA study program.

Best Institutes to Study Financial Courses 

The Indian financial scenario is fast emerging as one of the topmost in the world. Indian financial firms are not only recruiting finance students and finance professionals from within the country’s boundaries, but also talented candidates from other countries of the world. Therefore, in order to survive in the competitive field of finance and to secure the best financial job in India, being armed with a degree from an educational institute of repute is very important. If you are searching for a job in the financial sector, you can enroll in the following institutes to earn the best degree:

  • Osmania University, Andhra Pradesh
  • The Institute of Chartered Financial Analysts of India (ICFAI), Andhra Pradesh
  • University of Bombay, Maharashtra
  • The Institute of Financial and Investment Planning, Maharashtra
  • Maharaja Sayaji Rao University, Gujarat
  • Gujarat University, Gujarat
  • The Institute of Capital Market Development, New Delhi
  • University of Delhi, New Delhi
  • University of Madras, Tamil Nadu
  • Annamalai University, Tamil Nadu

Job Opportunities in Financial Services 

The career opportunities in the field of financial services are galore. The different position that you can work for if you are a part of this growing sector are:

  • Stock Broker
  • Chartered Accountant
  • Security Trader
  • Security Analyst
  • Security Advisor
  • Security Dealer
  • Market Researcher
  • Security Analyst
  • Fund Manager
  • Financial Advisor
  • Financial Planner

Unlike other sectors of the economy, where more stress is put on seniority and professional experience, the financial services sector is one where hard work and individual performance are given prime importance. Even if you are a fresher in the field and perform to standards considered good by the organization you are working for, your advancement and promotion in financial services will be fast. In this way, the earning in the form of salaries and other benefits will also increase rapidly in the field of financial services.

Salary Brackets in Financial Services 

The salaries and earnings of employees of the financial sector are relatively higher than those of the other sectors in India. Though the educational institution where you have passed out from and the experience and skills which you show in the job matter in the long run, even a beginner in the financial industry earns a large figure as salary. The basic salary structure of different positions in financial services is as follows:

  • Chartered Accountant – 50,00,000 to 60,000,00 rupees per annum
  • Financial Research Analyst – 45,00,000 rupees to 50,00,000 rupees per annum
  • Business Analyst – 40,00,000 rupees to 45,00,000 rupees per annum
  • IT Project Manager – more than 1,000,000 rupees per annum
  • Financial Analyst – more than 3,00,000 rupees per annum
  • Software Programmer and Developer – 4,00,000 rupees to 5,00,000 rupees per annum

Most Popular Employers in the Field of Financial Services 

Here is a list of the best companies to work for if you wish to pursue a career in financial services. The companies recruit only highly qualified students or professionals with several years of experience in finance.

  • HSBC
  • Genpact
  • Thomson Reuters
  • J P Morgan Chase & Co.
  • Fidelity Investments
  • Capgemini
  • GE
  • Deloitte
  • Rodl Middle East
  • ICF International
  • Madan Mohan Financial Services LLP
  • IFCI