After Science and Technical jobs, Finance as a course of choice and career is popular. Contrary to popular belief, Finance jobs are not all about accounting and managing financial records. There are a lot more options that students can explore depending on their interests and skillset.
MGU, a premier university in Bhopal has thousands of Finance students graduating from its gates every year. Let’s see what some of the jobs these students end up working at.
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Top 10 Finance and Accounting Careers
Accountants:
Accountants are professionals who help with creating and maintaining financial records. Other essential financial duties like auditing and financial analysis are also handled by the accountant. The payroll of the employees and taking care of bills are also the accountant’s responsibilities. Most accountants are a part of accounting firms or the finance department in organizations.
In terms of educational qualifications, accountants generally have a B.Com and/or an M.Com degree. Other organizations can require their accountants to have a professional degree like CA. Indian accountants have average salaries of INR 2,51,873 LPA.
Finance Manager:
Financial Managers manage the financial aspects of an organization over a long period of time. This position is unlike that of an Accountant whose role is more of maintaining the financial records, statements, and taxes. On a career ladder, accountants become Finance Managers through experience. The financial goals of the organization are the responsibility of the Finance Manager who will also forecast costs and find ways to cut out costs.
All important financial decisions like mergers and acquisitions, takeovers, and expansions are also done in consultation with the Finance Manager. One can start working in finance at entry-level positions with a bachelor’s degree and build their way up to Finance Manager. In doing so, they can do so around INR 10,10,633 LPA.
Chartered Accountant:
Chartered Accountant is a title awarded to an individual who has completed a three-year long course and an articleship or internship. Chartered Accountants or CAs perform a host of duties for companies such as financial reporting, auditing, taxation, corporate finance, recovery, insolvency etc. This is a highly paid finance job that is available in both public and private organizations.
Once hired they manage the entire financial system of the company including the budget. CAs will also work on a client-to-client basis where they provide their expertise to improve their financial standing. While the actual salary of a CA depends on the experience level, the average pay is around INR 8,04,427 LPA.
Certified Public Accountant:
Certified Public Accountants or CPAs short handles accounting, tax and even audit processes for companies. Certified Public Accountants need to complete requirements besides a bachelor’s degree from a commerce college in Bhopal. CPA is a professional course that has multiple stages and examinations to complete before earning the title of CPA.
The true scope of duties that the CPA does will depend on the employer. This office-based job also involves looking over financial documentation and papers and filing of taxes. CPAs find employment in both private and public organizations. CPA, on average, can make around INR 6,95, 152 LPA.
Financial Consultant:
Unlike other finance jobs mentioned here, Financial Consultants work on a contractual basis. They work with different clients and provide advice suited to them. From investments to insurance and how to plan their finances, Financial Consultants handle a lot. Besides general advice, the consultant will also manage the client’s finances by buying and selling of stock.
They have years of experience in the Finance field from the draw upon to strategise a proper plan. With the help of a financial consultant, clients will grow their assets while minimizing their liabilities. As pay for this role is on a project-to-project basis, it is difficult to arrive at an estimate. However, most earn around INR 6,91,452 LPA.
Financial Analyst:
Most students at B.Com college in Bhopal graduate and work in the capacity of a Financial Analyst. The Financial Analyst is a data analysis expert whose role is to look over all the financial data of a company and then give recommendations. They will make forecasts and recommend what investments and decisions to take up.
While bachelor’s degree holders can also work in this role as Junior Financial Analysts. For more senior roles or more responsibilities, an MBA or M.Com degree is necessary. Financial Analysts can earn annually around INR 4,34,614 LPA.
Investment Banker:
As per the name, Investment Bankers help raise capital for organizations both public and private. Investment bankers are individuals with strong convincing and negotiating powers to convince clients to make the right decisions for the financial health of their companies. Generally, investment bankers have a team of junior workers who will do the groundwork and do analysis and research.
These individuals must also have leadership and supervisory skills to lead the team. Their recommendations can include major decisions like mergers and acquisitions, unique investment opportunities etc. This role is in the top ten well-paid roles and one can expect an annual pay of around INR 9,66,410 LPA.
Hedge Fund Manager:
A Hedge Fund Manager is the person in charge of a hedge fund. A hedge fund is a pooled investment consisting of mostly liquid assets. The fund is then managed using different tips and tricks to improve its position. The Hedge Fund Manager makes all the important decisions to buy or sell on behalf of all their clients.
This is quite a demanding role and the manager must be on top of their game to employ different tips and tricks to get higher returns on the fund. The manager usually has a team of analysts working under them who do the basic analysis work. The highest-paid-out job in this list, the Hedge Fund Manager makes around INR 15,00,000 LPA.
Financial Compliance Analyst:
in broad terms, a compliance analyst is an individual who works with firms to ensure that necessary rules and regulations are being followed. Finance Compliance Analysts, in the same vein, work with Finance firms to ensure no national laws are being broken. Here they look over the operations of the firm and must have a strong understanding of how the world of finance and accounting works like.
Some financial corporations they work at are insurance and investment firms and banks. Whether one is from a private university in Bhopal or a public, anyone can work as a Financial Compliance Analyst with the right skills. Most organizations offer this role around INR 4,65,821 LPA.
Tax Officer:
Unlike other positions in this list where one can either pursue a course or apply for an interview, to work as a Tax Officer, one needs to attempt a written examination. Most Tax Officers work for central or state Governments. Candidates between the ages of 18 to 30 take up a two-tiered online test. Post qualifying for the written test, further selection rounds take place. Per online reports, Tax Officers earn around INR 4,80,000 LPA.
Finance jobs have always been popular. For good reason too, there are numerous options in Finance to work in, tax, accounting, hedge funds, investments, etc. Each option is well paid out than the other with plenty of options to advance to higher positions as well. Commerce students would have no dearth of options.
