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Banking and finance are two interrelated sectors that deal with money and all related matters. These two institutions, i.e., banking and finance institutions are responsible for the smooth flow of money in the economy, and on a larger scale, for the seamless running of the economy of a country. Careers in the banking sector are one of the most sought-after careers since they provide a sound financial status, job security, post-retirement benefits, and other incentives. Especially in a country like India, where the population faces a major job crisis, the banking sector emerges as a ray of hope and provides enthralling, stable, and harboring Career Opportunities In Banking And Finance.
To start a career in banking and finance, one must have an established knowledge of banking and related subjects along with good communication skills, problem-solving capabilities, numeric powers, and time management skills. If you are a fresher, belonging to a non-commerce-oriented background looking to start a career in banking and finance, you can gain the required knowledge from EduBridge’s banking and finance course.
Finance is mostly associated with banking, however, there are slight differences in the functioning of financial institutions. Banks deal directly with money-related matters, while financial institutions directly practice secondary monetary functions such as loaning and investing. One can deposit cash with banks or make fixed deposits with banks, however, financial institutions do not have deposit facilities. One correlation that can be drawn out between financial institutions and banks is that banks are financial institutions, however, not all financial institutions are banks.
To start a career in finance, and to work with investment banks or other financial institutions like insurance companies, one needs to gain knowledge about these specific areas of work. To gain a holistic view of both banking and finance together, one can choose from a wide range of financial courses available on Edubridge. Banking and finance is a sector that is comparatively easier to get in, and gives you a wide ambit of scope for growth.
List of careers in Banking and Finance
| Job Profile | Job Description | Average Salary |
| Bank Manager | One reaches this level of authority after gaining sufficient experience in the banking field or by working regularly in the same bank. This post is achieved mostly through internal promotion, however, with a new set of career opportunities lining up, one can become a bank manager after clearing an exam as well. | ₹ 7.0 LPA |
| Probationary Officer | Probationary officers create budgets for a bank and approve the loans of a bank. They lay out financial mechanisms and plans for the bank to function. These officers are selected directly through competitive exams and are a great post of authority. However, the scope for growth is less. | ₹ 5.7 LPA |
| Financial Accountant | A financial accountant is responsible for auditing and reporting a bank’s functions along with preparing budgets and plans for a bank. Apart from banks, financial accountants can be found in most institutions, regardless of the sector they fall in, as every institution requires a team for the management of finances. | ₹ 3.0 LPA |
| Financial Risk Manager | A financial risk manager analyses all the market forces and foresees risks and warns the institutions against them. A financial risk manager is one of the most important workers of a company as he/she protects the company from incurring losses. | ₹ 10.0 LPA |
| Investment Banker | An investment banker deals with clients and guides them to invest their money in reliable places and places that can yield good benefits. Investment bankers need to possess analytical skills, effective communication skills, and industry knowledge to guide their clients. Investment bankers are the key players in ensuring financial growth for both their clientele and organizations. | ₹ 4.4 LPA |
| Financial Examiner | A financial examiner, also called a compliance officer, is hired by an organization to ensure that the company is complying with all the financial requirements. A financial examiner is hired by both governmental organizations and private institutions. The duties of a financial examiner include risk assessment, overseeing monetary and credit transactions, emergency responses, etc. | ₹ 4.5 LPA |
| Broker | A broker is an agent who works as the middleman between individuals, financial organizations, and governmental and non-governmental organizations. A broker’s duty includes finding clients and possible customers and selling and buying securities, commodities, stocks, and various kinds of bonds, both governmental and non-governmental. | ₹ 2.2 LPA |
| Asset Manager | An asset manager is responsible for overseeing and optimizing the performance of a portfolio of assets like stocks, bonds, real estate or other investments. They analyze market trends, evaluate risks, develop investment strategies and make informed decisions to achieve maximum returns for their clients or organizations. Additionally, they may also be involved in asset allocation, portfolio diversification and maintaining client relationships. | ₹ 5.4 LPA |
| Internal Auditor | An internal auditor conducts thorough assessments of an organization’s internal controls and processes to ensure compliance, identify risks and recommend improvements for operational efficiency and risk mitigation. They play a vital role in maintaining transparency and accountability within the organization. | ₹ 3.3 LPA |
| Credit Analyst | A credit analyst looks after evaluating the creditworthiness of individuals/ businesses by analyzing financial data, assessing risks and making recommendations for lending decisions. They play a critical role in assessing loan applications, determining credit limits and monitoring borrowers’ financial health to minimize credit risk for the organization. | ₹5.0 LPA |
| Loan Officer | A loan officer assists individuals/businesses in obtaining loans by assessing their creditworthiness, analyzing financial information and guiding them through the loan application process. They play a crucial role in evaluating loan applications, determining loan terms and ensuring compliance with lending regulations. | ₹ 2.2 LPA |
| Venture Capitalist | A venture capitalist invests in early-stage startups and growing companies by providing funding, expertise and guidance to support their growth and success. They actively seek promising investment opportunities, negotiate deals and manage a portfolio of investments to maximize returns for their firm and stakeholders. | ₹ 7.5 LPA |
| Financial Advisor | A financial advisor provides personalized guidance to individuals/ businesses on financial planning, investments and wealth management. They analyze clients’ financial situations, develop strategies and offer recommendations to help clients achieve their financial goals and make informed financial decisions. | ₹ 2.8 LPA |
| Wealth Manager | A wealth manager assists high-net-worth individuals in managing and growing their financial assets by providing comprehensive investment and wealth management services. They develop tailored strategies, oversee investment portfolios, and provide advice on estate planning, tax optimization and risk management to preserve and enhance clients’ wealth. | ₹ 6.0 LPA |
Reasons to pursue a career in Banking & Finance Sector
- High earning potential: The career opportunities in banking and finance sector offers competitive salaries and the opportunity for significant financial growth. Hence, making it an attractive choice for those seeking lucrative career prospects.
- Diverse career opportunities: A career in banking sector presents individuals with diverse job opportunities across domains like investment banking, financial analysis, risk management and corporate finance, enabling them to explore different areas and discover their unique specialization within the industry.
- Global presence and mobility: Career in banking offers the chance to work internationally, providing global opportunities in various countries and granting access to a wide network of professionals and markets. Thus, creating a dynamic and exhilarating work environment.
- Intellectual stimulation: Career growth in banking sector is intellectually challenging, requiring problem-solving skills and critical thinking to navigate complex financial markets and analyze intricate data, providing continuous learning and personal growth.
- Impact on the economy: Choosing a career in banking allows professionals to make a meaningful impact on the economy by actively contributing to its stability and growth. They play a vital role in facilitating business investments, effectively managing risks and fostering overall economic development.
- Prestige and reputation: Career opportunities in banking sector are often associated with prestige and credibility, as it involves handling valuable assets, working with renowned institutions and dealing with high-profile clients, enhancing professional reputation and opening doors to future opportunities.
- Transferable skills: The skills acquired during banking and finance course, such as financial analysis, risk management and strategic decision-making, are highly transferable, enabling professionals to explore diverse industries and roles beyond the sector itself.
CONCLUSION
Therefore, it can be concluded that there are ample opportunities in the banking and financing sector, especially in today’s globalized and corporatized world. The banking and Financial sector, just like any other sector, requires a set of skills that don’t only come in handy in the profession but are the life skills that one ought to know to survive in the financially competitive world.
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