Banking and finance (BFSI) are collectively one of the most active job industries in India. They have great scope for jobs for aspiring graduates who can look at getting hired in any company they want. Since most organizations have a finance/accounts department, the number of jobs is abundant.
But what are some of the most trending BFSI jobs in India? What banking and finance courses should you pursue to land a high-paying job that is also professionally rewarding? These are the questions that we will answer in this article today. Read on.
Trending Jobs in the Banking and Finance Industries
Here’s a list of the most sought-after and hot jobs in the BFSI sector.
1. Investment Banking – Provide investment advice to non-finance people and earn consultation fees and commissions. Investment bankers are one of the highest-paid professionals in the BFSI field. Whether you work as a freelance consultant or get hired at a consultancy like BCG, the exposure you get in the industry is too high. Investment bankers have knowledge of the stock market and corporate banking and usually deal with businesspeople.
2. Corporate Finance – Similar to investment banking, here you consult companies with their finance. Skills of business analysts and financial analysts come together here to help organizations make better financial decisions. These are about their own growth and development, their investments, and their expenses. Corporate finance is another field that pays well, but it is equally challenging and requires professionals to know the field inside out. Taking up banking and finance courses is extremely critical to be successful in this field.
3. Wealth Management – Another great career path to take is to specialize in wealth management. This is all about how a person can multiply their wealth through tax breaks, sops, and utilization of the right instruments. You will mostly work with high net-worth individuals (HNIs) such as business magnates, industrialists, and directors of large corporations. Your work will mainly involve guiding them on where to put their money and how to invest it to earn best interest rates. For example, if a businesswoman has a lumpsum amount of INR 50,00,000 to invest, it is your job to tell her what the best instruments are for her profile that will give her the maximum benefits. Companies like HDFC Limited and Kotak Group have departments that specialize in wealth management
4. Credit Analysis – Ever heard of the CIBIL score? A credit analyst basically helps people improve their credit score. In some cases, this profession can also mean working with regulators like Sebi and RBI to improve the credit infrastructure of the country.
a. In a usual credit analyst role, you will assist individuals and companies understand their credit history and score and suggest ways in which they can improve them. You should know the workings of the credit system in and out to provide counsel. This has a direct connection with loan operations
5. Risk Management – A slightly different field but still highly relevant in the BFSI sector. A risk management profile involves you assessing the financial situation of a company and providing advice on how to use their money properly. This can mean investing in a certain project and cutting the fund on another because it is not performing well. This is more of an analysis role than one where you work with numbers.
Whatever profession you choose in the BFSI sector, having good general knowledge of the finance sector can do wonders to your profile. So, go ahead and join any of the banking and finance course of your choice and start building your CV.
Also Read: Overview of Career in Finance