A career in the banking & finance industry is life goals for many aspirants who want to make it big in life. Given the crucial nature of the job, it is held in high regards by many and invites a lot of competition. There are plenty of job roles in the banking and finance domain that require carried skills sets and a degree of specialization.
A common trait in the jobs offered by banks and financial institutions is that it’s highly rewarding but requires more dedication and time to succeed in the domain. The job roles also require you to have a certain level of technical understanding that you can achieve by opting for banking and finance courses. Let’s delve deeper into some of the key job roles that you can go for in the banking and finance segment.
One of the most promising career options in the finance sector is the role of a financial analyst. The main role of a financial analyst is to collect vital data, perform analysis and derive conclusions based on their findings. You will have to do an analysis of the company’s financial performance and also evaluate the competitor’s financial standing. Financial analysts are required to identify market trends and challenges that might arise in the future. They need to provide a solution to the problems identified in the analysis. It requires robust analytical skills and good financial acumen to succeed.
The role of an accountant is probably one of the most common ones in the finance industry as almost all businesses require an accountant to manage their day-to-day finances. It is one of the mainstream career choices preferred by finance and commerce graduates.
They are required to evaluate the company’s taxes, analyses the balance sheet and other financial statements like cash flow, profit and loss, etc. Accountants are also required to prepare the budget and detect fraudulent transactions. You can also progress to the field of forensic accounting, chartered accountancy and tax consultancy after gaining experience as an accountant.
The role of a stockbroker is to buy and sell stocks on various stock exchanges. A stockbroker can either work for himself or for a reputed finance firm that provides trading and related services. Other than stocks professional brokers can also trade in other financial instruments such as bonds, commodities, etc. It is important to know that it requires dedication and long hours to be successful as a trader or a stockbroker.
It can be very challenging and initially, you won’t have a desired work-life balance given the fast nature of the trades that take place daily depending upon the market fluctuations. It requires you to be a workaholic and self-disciplined.
The role of a management consultant is very dynamic and requires you to have a proper understanding of the industries that you are targeting. It has a very broad spectrum and covers a range of things including performance evaluation and maximizing profits for businesses. The role of a management consultant is highly rewarding as you can earn a lot more than just your annual salaries. You need to have problem-solving and good communication skills to succeed in this field. Also, a master’s degree is a requirement by most companies who hire management consultants.
The roles and responsibilities of a business analyst are very similar to that of a financial analyst. They are required to do comprehensive industry analysis and identify the challenges related to the business’s operations and technology. They act as a connecting link between the business and technology department of the organization.