The field of finance is vast and offers tremendous scope of employment. There are different roles that one can take up in the finance industry. Whether you seek a position as an entry-level professional, manager or a veteran, the finance industry seems to be on the upward curve at the moment. The following article will discuss about how the finance sector is expanding and its impact on jobs around the world, including India.
In 2013, the most rewarding beginner jobs in finance, both in terms of remuneration and future prospects, included jobs as Financial Analysts, Investment Banking Analysts, Junior Tax Associates and Financial Auditors. Financial expertise seemed like the most essential skill needed by job seekers. Even in 2014, proficiency in finance will help job hunters quickly secure a job.
The banking jobs market has been displaying positive signs of progress with jobs levels at their best in more than two years. The insurance industry is keeping busy in underwriting and transactional claims as the big banks are growing into the insurance segment.
Companies are on the path of financial planning to increase their presence in the coming year, for which they are implementing changes concerned with financials. This is creating a strong requirement for experienced professionals in the lending market. Also, there is a higher demand for senior finance professionals.
Let us take a look at what is going on in the finance sector of India.
More Jobs to be Created as NSE Joins Hands with State Governments
Â India can soon become a global destination for investment if a larger number of students can succeed to pursue their financial careers. The finance sector is in need of half-a-million employees, both skilled and semi-skilled. According to Lead-SBU Education and Head Administration of National Stock Exchange of India, Chennai, Sunitha Anand, there is a dire need for finance professionals as the current scenario reflects a scarcity of professionals in this realm. There may be plenty of finance jobs in Bangalore and other metropolitans but as of now the cities in Kerala and Tamil Nadu are set to experience a new trend in the finance sector. As part of efforts to improve financial literacy among students and other aspirants, the NSE has collaborated with the Kerala and Tamil Nadu governments.
Â The Facilities
Globalization is a wide-spread concept and has also affected the Indian markets. Building a career in finance will open up doors of opportunities for students who wish to excel their respective fields.
To increase the dominance of finance in the state of Tamil Nadu, the initiative has covered students starting from Class VIII to introduce them to a fundamental level of different financial tools, before familiarizing them with investment destinations and secondary markets. Nearly 2,000 faculty members and 7.5 Lac students have been trained so far.
After the initiative by Tamil Nadu, the government of Kerala also sought the assistance of NSE in launching a program for higher secondary students and those pursuing under-graduation. The PSG Institute of Management saw the launch of a Trading Lab while its students were urged to choose finance as their careers, instead of taking up conventional jobs. The trading lab, which has been sponsored by the All India Council for Technical Education, will offer real time trading experience to students, along with complete technical support from NSE.
There is adequate employment potential with the NSE Certified Capital Market Professional (NCCMP) program, even though many brokerages are reducing the strength of their staff due to slow business. Companies are opting for restructuring and mergers. However, the market has not contracted yet and is still optimistic. Even though students of finance programs may not hold direct employment opportunities with brokerages, they can still seek jobs as research analysts, business strategists and investment bankers. And with global investors pouring in, the finance market is getting bigger and better and soon there will be no shortage of skilled professionals.
Author bio: A writer by profession, Devika Arora is currently focusing her writing on the extensive domain of careers and job search. She has written various articles, news stories and blog posts for the employment sector. The above article is a compilation of latest facts and discusses about finance jobs in India.