Financial systems have steered our economy and community. It is considered an evolving industry that is more data-driven and automated than ever before. The Australian market for financial services has boosted by 13.2 percent and attained a value of over $10.9 trillion.
Are you thinking of upskilling your current role or changing your profession? Do not worry I will guide you to a career in finance. To get a brief understanding of what a career in finance looks like let’s take a closer glimpse at what you can expect.
Why does a career in finance matter?
A career in finance in 2022 and beyond demands an interest in and a strong insight into applied finance. Finance has become a critical feature of modern life like banks and super funds, require to incorporate finance on the same page with competitors and customer expectations.
Knowledge of applied finance delivers financial services to businesses and high-net-worth individuals. They are often employed in zones like commercial and investment banking, financial planning, project finance, risk management firms, and venture capital.
Lifelong learning in finance will secure you always ahead of the curve. A career in finance will not only enable you to attain complete financial knowledge of business but also as an expert to apply to real-world applications and handle your funds.
Perks of having a career in finance
There are multiple advantages of having a career in finance. Let us see what are the diverse opportunities offered by finance. Always remember a career in finance is bigger than an individual.
You will earn:
- trendy and holistic financial knowledge to decode corporate financial concerns
- address financial functions of global firms
- make adequate investment decisions that align with organisational goals
- learn the application of financial practices to overcome market difficulties
- improve your professional performance
- get a competitive edge to flourish in the modern financial world
Your guide to financing careers
In a resilient and fast-paced industry, finance supplies a myriad of careers that are growing and promising as technology expands the opportunities for specialisation. In recent years, the job of finance and accounting jobs increased by 21 percent along with salaries rising in line with that demand.
A career in finance certifies you to make a difference in the world by enlightening employers, entrepreneurs, and businesses in financial literacy. With a globe of financial knowledge, you can solve market challenges, lead global business functions and enhance professional performance. In simple terms, with a holistic understanding of finance, you can solve issues, make decisions, and direct finance functions in businesses anywhere.
Let us explore a few financial career options to consider.
Chief financial officer (CFO)
CFO is responsible for a company’s finances and reports directly to the CEO. Their duties are to shape the overall strategy and direction of organisations and are expected to preserve the assets of your organisation. Moreover, the CFO acts as a catalyst, producing a high-performing culture by infusing a financial approach to generate and analyse financial information to aid the business to evolve more competitive.
However, the average salary of a CFO is 3,470,309/ year. Simultaneously in Bangalore, Karnataka makes an average of 41.4% more than the national average. Also, the average salaries in Delhi, Delhi (40.1% more) and Mumbai, Maharashtra (38.8% more). Unfortunately, the lowest salaries are found in Kolkata, West Bengal (16.0% less).
Financial controller
Financial controllers look after the day-to-day operations of a finance department. While the CFO is accountable for a company’s finances, the financial controller harbors a hands-on duty to manage them. Financial controllers have robust digital skills in cloud accounting software and technical skills in technical and managerial accounting. Financial Controller salary in India varies between ₹ 6.0 Lakhs to ₹ 51.0 Lakhs with an average annual salary of ₹ 23.0 Lakhs.
Finance manager
Finance managers provide aid to the CFO with financial guidance. It includes analysing financial information, presenting insights to executives, and identifying financial risks.
A finance manager must know advanced digital and technical skills in financial management and have a strong financial understanding. Apart from skills he/she should excel in soft skills like strategic thinking and leadership. Now talking about the salary in India, with less than 4 years of experience to 18 years runs from ₹ 3.5 Lakhs to ₹ 30.0 Lakhs for a finance manager.
Financial analyst
Financial analysts use data analytics and financial acumen to supply businesses with financial advice and to determine risk. These analysts can be found in many industries such as banking, recruitment, mining, education, health, and insurance.
As financial analysts concentrate on studying past performances and predicting future risks and opportunities, they require highly developed soft skills like communication, leadership, and data management skills. However, the salary goes between ₹ 2.1 Lakhs to ₹ 10.8 Lakhs with an average annual salary of ₹ 4.0 Lakhs.
Commercial manager
Commercial managers merge finance knowledge and business know-how to manage operations and design new business for companies. The job profile states to manage a portfolio of commercial connections in industries like transport and logistics. In addition to the skills, commercial managers must be active in negotiating and communicating. The national average salary for a Commercial Manager is ₹12,33,713 in India. Employees with Commercial Manager in their job title in Gurgaon, Haryana earn an average of 28.4% more than the national average. These job titles also find higher than average salaries in Mumbai, Maharashtra (24.0% more), and Bangalore, Karnataka (17.3% more). The lowest salaries can be found in Chennai, Tamil Nadu (33.9% less), and Pune, Maharashtra (12.0% less).
A road map for finance
Whether you’re inquisitive in analytics, corporate finance, or the endless evolution of FinTech, finance presents you with many career paths. Therefore the above career opportunities will add a raise in terms of career and financial status. Unclose your value in Finance industry if you want to upskill or change your career through Unschool’s Online Finance Course.
The course is a mixture of advanced academic rigor with hands-on projects that are presently applicable in the workplace. Seek advanced financial knowledge and practical learning by industry experts and develop your potential further to work in finance. Make yourself invaluable to employers by impacting and creating real-world value. Thus making a difference in every field of the finance industry, in any market.
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Your article gave me a lot of inspiration, I hope you can explain your point of view in more detail, because I have some doubts, thank you.
Your article gave me a lot of inspiration, I hope you can explain your point of view in more detail, because I have some doubts, thank you.