An organization is a complex structure. It has various departments, each of which has a defined role to play. The health and progress of the organization depend on whether all these departments perform in unison or fall out of tune. If the administration is the brain of the office, the finance department must be its heart. The company will run smoothly as long as the funds are rolling. Any sudden stoppage in the fund flow will hamper the entire status of the organization.
Importance of financial management
As mentioned, money is the lifeblood of any agency. Whether it is a public sector office or a private organization, financial management is of utmost importance. The administrative heads take extra caution while appointing financial advisors, or experts. Even accountant play a vital role as they maintain all economic data. Any discrepancy in these figures can make or break the performance, and the overall status of the agency in the market. That is the last thing any business owner desires. When so much rests on the financial department, it is evident that there is high demand for people who possess necessary skills to manage funds. If you are good with numbers, calculations, and monetary data management, then you are the right person for the finance sector. But bagging a job in the finance sector is not a mean task.
Finance in the banking sector
Each government department has its own finance department. Apart from that, you can also be a part of the banking industry. Here too, you have the option to choose between private and public sector banks. But bank managers have to take care of financial as well as administrative tasks. For instance, an SBI PO needs to check fiscal memo as well as address any internal problems. So, if you had a notion that this was going to be a piece of cake, then it is time to shun that idea out for good.
Education in finance is a must
Students, who desire to join top posts in the financial sector, be it in private banks or organizations must have some professional training in handling money matters. MBA and M.Com candidates are preferred. If you desire to enter the company and financial law, then CA or CS courses are a must. Candidates, with these qualifications, are also welcome to join the government sectors. For people with only a graduation degree, it is best to start at the grassroots level.
Each government exam has its own set of rules. Even an English graduate can become an SBI PO. How will someone with no financial background tackle vital monetary issues? Well! SBI and all other banks offer specialized training to the selected candidates, before offering them their final posting. After the training, these candidates need to prove their worth in yet another departmental examination. Thus, for a career in the financial sector, proper preparation is vital.
An internship offers adequate exposure
Reputed MNCs will not place graduates at high posts in the finance department. If you desire to attract the attention of the bosses, then add value to your resume. It is best to join internship programs in sound financial management firms. These will offer proper knowledge about the actual field. Reputed firms provide merit certificates to interns. If you have enough potential, then you may bag a job in the same organization. Otherwise, these certificates will enhance the value of your resume. It is better to try different kinds of intern programs to attain an idea about all matters.
Planning the move
If you are hell bent on starting your career as a top executive in any private organization, then that will never happen. They only offer such posts to experienced candidates. But it is possible for a candidate from humanities background to secure a high position in a financial sector, for instance, a bank. How banks function makes it possible for an outsider to learn the tricks of the trade. Even if M.Com degree holding candidate cracks the SBI PO exam, he/she will fail to run the office without any training. Such is the banking operation system. Thus, planning the move is very important. The game plan will change depending on your sector choice. If the job seeker fumbles in the planning stage, then he/she will be in deep trouble.
Talking to the experts
It is not uncommon for students to be overwhelmed by so many. But this must not lead them towards a wrong decision. It is here that the assistance of an expert will come in handy. You may feel that you have the aptitude to make the cut in SBI PO exam. But in reality, your GK or puzzle solving skills is too weak to take you through the preliminary level. An expert’s task is to analyze the overall aptitude of the candidate, and then come to a conclusion. If the final inference is adverse, then the applicant must concentrate on specialized financial courses, which will eventually take him/her to the top post.
Having an idea about your career is essential. Experts believe that identifying the strength and weakness of a candidate early, will provide him/her adequate time to prepare and attain his/her goals. It is early for a school or college student to decide which professional field he/she will finally end up with, having a vision surely helps. Central and state government offices regularly recruit employees to fill their vacancies, to man financial departments. These jobs are highly sought after. Thousands battle it out for one seat. In case you fail to make the cut in the public sector, private offices will offer openings in financial departments. These are some tips, which will allow any candidate to make a name in the financial industry.