Finance is the key for growth of any individual or organization. Thus, arise the need for competent finance professionals to manage finances, minimize losses and maximizes profits.
There are many ways in academics due to which one can turn out to be a part of finance industry. Students can pursue graduation and post graduation in finance related disciplines like accounts, commerce, business, economics, statistics etc and thereafter begin work in finance and investment division. A person with non commerce background can also work in the financial industry.
Roles for finance graduates in the industry
These are the roles that finance graduates can take up once they graduate:
Financial Planner: A Financial Planner is a person who helps people and organisations in budget and finance planning. Significant work areas include cash flow management, education/ investment/tax/ insurance/ estate/ retirement planning etc. MBA in Finance or equivalent is the minimum educational qualification to start career as financial planner.
Risk and Insurance Manager: A person who works in Risk Management and Insurance Planning. The minimum educational qualification to be a risk manager is certificate in actuarial science or a degree in business finance.
Chartered Accountant: Experts who give profitable data about monetary records of an organization.. A chartered account is called ‘watchdog’ of a company who attempts best to spare the association from conceivable financial dangers if crisis happens. Financial and budget and taxation planning of a company is also looked after by them.
Cost & Work Accountant: Production management, service management, budgeting and financial decision making are the areas where cost and work accountant specialises in. The degree for the same is provided by various institutes of Cost & Work Accountants from different countries.
Stock Broker: A certified professional who purchases and sells shares for the benefit of investors. To be a stockbroker one needs to have a sound understanding of money, market and finance and usually works with brokerage firms.
Company Secretary: Company secretary deals with company laws. To be a company secretary one needs certificate in Company Secretaryship from the authorised body in a particular country.
Chartered Financial Analyst (CFA): Chartered Financial Analyst (CFA) is professional qualification globally for graduate students with 48 months industry experience. Financial reporting and analysis, Security analysis and Portfolio management are some of the functions done.
Degrees offered in the department
There are a variety of degrees accessible for those keen in finance. A few colleges offer a four year certification, while others offer a four year college degree in business administration with a focus in finance. Though accounting is the investigation of how cash is followed, finance is the investigation of how cash is overseen.
A degree in Business Administration with a finance concentration is intended to enable students to get ready to apply business abilities and problem solving, outline how administration learning and aptitudes supports organisational performance.This degree type also provide students with the opportunity to develop proficiency in financial accounting, capital and money markets, investments and risk assessment knowledge. Additionally, a business administration with a concentration in finance degree program is designed to provide students with the chance to grow foundational knowledge and skills to help prepare for a career in business finance and focuses specifically on theories and practices related to financial accounting, investment allocation and risk management.
To start work in industry in core financial capacity like Financial Manager etc one needs at least post graduate degree in finance. MBA Finance is one such course which encourages you in landing job as Financial Manager in a company. Students with post graduate qualification in MBA Finance i.e. Financial Management can get work opportunities with government and public sector companies as finance officer, risk manager, insurance manager, treasures, manager finance & accounts, to name a few.
Procuring a PhD in finance is is a possibility for the individuals who might want to seek after research and educating.
Finance professionals have the opportunity to build credentials by completing professional designations and licenses in investments, banking, insurance and real estate.
Chartered Financial Analyst (CFA). The CFA Institute confers the CFA certification to investment professionals who have no less than a four year certification, four long stretches of work understanding, pass three exams in succession covering themes such as accounting, economics, ethics, money management and security analysis, and join the CFA Institute. Earning a CFA is a time-consuming, challenging process. CFAs sometimes receive salary increases once their certification is complete and in some organizations, they receive preferential treatment in the job application process.
Certified Financial Planner: Different boards in different countries provide certification for the same e.g.-The U.S. Certified Financial Planner Board of Standards, Inc. (CFP Board) confers the CFP certification to professionals who hold a bachelor’s degree or higher from an accredited college or university and pass a three-part examination covering the general principles of financial planning, insurance planning and risk management, employee benefits, investments, income tax, retirement and estate planning.
Bachelor of Science in Business Administration: By building on a core business administration curriculum, a concentration in finance focuses on theories and practices related to financial accounting, investment allocation and risk management.
Also, it’s a good idea to stay on top of the market. Reading The Wall Street Journal and keeping a pulse on emerging trends through professional associations and networking events are good places to start. Some finance professionals agree, the most beneficial finance education students receive may come from sources other than textbooks.
Current Top For Business & Economics according to the THE World Universities Ranking are-
Jobs and future opportunities
Accountants are highly sought after, enjoying a high degree of job stability and a top tier salary. Once they have entered the profession, accountants can expect good upward mobility and may even have the capacity to build up beneficial private practices. While numerous occupations are helpless before the business sectors, accounting will be sought after, paying little mind to a torment economy. Numerous accountants will get jobs within government, cataloguing tax income to a department or managing the spend on contracts. They may work for individual customers, attempting to limit their duty bill and offer money related exhortation. There are a lot of roles that one can incur after getting a degree in finance. Some of them are-
Personal Financial Advisor: They help individuals to deal with their funds by giving counsel on monetary issues, for example, investment, insurance, taxes and retirement etc. For instance, one may enable a customer to spare to purchase an auto or a house, figure out how to pay for school and so on.
Credit officers Management Analyst: Also referred to as management consultant, help companies strengthen business performance and grow by solving problems and identifying new, improved ways to perform business functions. The kind of projects management consultants undertake are hugely varied, from determining what kind of business model a client should follow to restructuring programs, building new products, growing new services and advising on organizational structure.
There are many career opportunities within the business and financial field. Additional possible paths could include: Controller, Cost estimator, Treasurer, Internal auditor, Regulatory compliance officer, Portfolio manager, Venture capitalist, Actuary. Pursuing higher studies in this field will surely lead one to a great career ahead in Finance.
Canada, ranked amongst the top 10 countries of the world by United Nations, is known for its eminent education, excellent institutions and quality of life. It has the top institutions and universities which provide excellent education to students from all over the world, thereby becoming one of the top choices for studying abroad.
A number of Canadian Institutes provide exchange programs for its students, all over the globe, which gives them the right exposure and a great experience to learn and develop as an individual. Ontario, British Columbia, Alberta and Quebec are the top hubs for education in Canada where a number of international students prefer.
The country spends a lot on providing the best education to its students. Various undergraduate degrees, postgraduate courses, diploma, advanced diploma, etc. are being provided in most of the Canadian Universities.University of Toronto, University of British Columbia, University of Alberta, University of Waterloo and York University are counted among the best universities in Canada.
Canada can be a great choice for students planning to pursue higher degrees of education because of the high standards and lower cost of living. The universities provide excellent infrastructure and facilities, which makes it a highly favored study abroad destination.
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