Opportunities in Finance Sector

The finance sector is getting trickier day by day, as it is booming. There are numerous challenges as well as opportunities thrown in for prospective candidates.

Starting from base: Banking, insurance. There is no end to the need of these to fields. Retail banking is catering to more and more strata of people. As the global economy is growing with 4-5% per year, people are getting more money and that inevitably involves banks. Added to that the growth is promoting industries to invest more for growth, again banks play an important role. Common as well as corporate people are beginning to understand the need of insurance against natural and unnatural calamities. There is great scope in these two sectors for innovation, planning and strategising to generate better returns. There is lot of competition in market for these fields and only innovation can go the distance. If you feel you have the flare for it, there is unlimited scope. These fields won’t dry out for years to come.

The global growth is promoting more opportunities for finance sector, Non-banking finance corporations (NBFC) viz. Equity, venture capitalist. As the world economy is growing, peoples’ savings are growing and they are turning to equity for better returns. There are many asset management companies entering in equity. Through equity one can invest in global share markets, real estate, and commodities. So fund management is booming field to get into if you can predict of near future to get better returns for the fund. The same goes for venture capitalists. They are called private equity investors. They provide finances to companies and work parallel to money providers like share markets or banks. If you can predict which business is going to fetch better returns for your company, you can certainly get into this field. Combining these two fields, it is called investment banking or I-banking.

And conventionally if you are good with financial planning and managing to get investment in, then you can work in finance departments of any industry. This job is getting trickier to as the interest returns are changing up and down. Market response is changing. Costs are increasing. So it’s getting tougher to maintain and increase profits. Difficult part here is maintaining company’s cash flow. You might be earning profits but not generating cash, due to the credit policies.

In addition to all these, there is growing tendency to outsource the financial management. There are many financial consultants growing by riding this outsourcing boom. These consultants provide all sorts of services regarding finance sector, from planning, implementation, feedback to audit. This job encompasses the whole finance sector and offers great experience as one gets to work with different companies in different sectors and on different grounds.

From the current outlook, it seems the better days for finance sector are just here and it’ll get better. The key point is innovation.

- UMESH SANT