Career in Financial Management
Financial management is that field of management which is concerned with the management of the finances of a company or organization to achieve financial objectives. With the era of liberalization, privatization, & globalization (LPG), numerous opportunities have been lined up for effective finance managers in all major companies.
More and more MNCs coming to India and more and more Indian companies going for joint ventures abroad, this all has resulted in a lucrative career option for those qualified in managing the funds and financial resources of any organization. All firms, government agencies, and organizations have a financial manager to take charge of the preparation of financial reports, conduct investment activities, and implement cash-management tactics.
Of late, a Sub branch of financial management called financial Planning has also surfaced as an attractive career option. It’s concerned with helping organizations make advance provision for financial needs that may arise in future.
Financial Management Eligibility Criteria
Finance courses are offered at both under-graduate and post-graduate levels, but more prominently in the latter. A 10+2 with 50% marks is the minimum qualification for undergraduate courses. Post-graduate applicants must posses an under-graduate degree. Institutes generally conduct their own entrance examinations followed by a group discussion.
Financial Management Job ProspectsFinancial management has emerged as one of the lucrative career option. Financial managers of any company are among the highest paid professionals both in India and abroad. Generally MNCs are hot destinations for candidates qualified in financial management.
Financial Management SalaryThanks to the increased role of effective financial planning in every business plan, the status of finance professionals has become very lucrative. Depending on one’s qualification and experience, he/she can expect to be paid well in this hot career option. As a trainee, one can start with a salary of Rs.8000-Rs.10000. Generally MNCs and private companies pay higher where sky is the limit for the talented ones.
Financial Management Institutes/UniversitiesPresently in India, a most sought-after course for training this field, called The Chartered Financial Planner (CFP) course is offered by two education bodies. The Association of Financial Planners (AFP) in technical collaboration with the Financial Planning Association of Australia Ltd. (FPA). This 2-year comprehensive distance-learning programme covers all topics of financial field like, employee benefits, wealth creation, budgeting, cash flow management, insurance planning and risk management, retirement planning, tax and estate planning debt management and financial plan construction.
On the other hand, aspirants in this field can also opt for an MBA/CFA/CA/Insurance specialization as these also cover all important key subjects.
Famous Financial Management Institutes
- The Institute of Chartered Financial analysts of India University (ICFAI)
The ICFAI University
Jagannath Bari Road, Bidurkarta Chowmuhani
Phone : 0381-2319507
E-mail : [email protected],
Website : www.icfai.org
- Financial Planning Standards Board India
312, III Floor, Turf Estate, Off. Dr. E Moses Road,
Mahalaxmi, Mumbai 400 011, India.
Phone : +91 22 66663268 / 66663314
Fax : +91 22 66663269
E-mail : [email protected]
Website : www.afpindia.net
- Financial Planners & Advisory Academy Pvt. Ltd
7, Readymoney Terrace
167 Dr Annie Beasant Rd,
Worli Naka, Mumbai 400018.
- International College of Financial Planning
3rd Floor, Gulab Bhawan,
6, Bahadur Shah Zafar Marg,
New Delhi - 110002
Phone : +91-11-66159000
Fax : +91-11-66159014
E-mail : [email protected]
Website : www.icfpindia.org
- Financial Planning Academy
1st Floor, Doulatram Mansion, Kitridge Road,
Colaba, Mumbai 400-005.
Toll Free No: 1800-22-1789
Tel: 022- 22797300
Mobile No: 9322637748
Email: [email protected]
Courses: Certified Financial Planner
- Indian Institute of Management, Ahmedabad (IIM A)
- Indian Institute of Management, Calcutta (IIM C)
- Indian Institute of Management, Bangalore (IIM B)
- Indian Institute of Management, Lucknow (IIM L)
- ISB - Indian School of Business, Hyderabad
- FMS - Faculty of Management Studies, University of Delhi
- Indian Institute of Management, Indore (IIM I)
- Indian Institute of Management, Calicut (IIM K - Kozhikode