An organization is a complex structure. It has various departments, each of which has a defined role to play. The organization’s health and progress depend on whether 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 accountants 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 the necessary skills to manage funds. If you are good with numbers, calculations, and monetary data management, 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 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 the fiscal memo and address any internal problems. If you thought that this would 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 professional training in handling money matters. MBA and M.Com candidates are preferred. If you desire to enter the company and financial law, CA or CS courses must be required. Candidates with these qualifications are also welcome to join the government sector. 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 postings. After the workout, 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 a 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 an M.Com degree holding candidate cracks the SBI PO exam, they will fail to run the office without any training. Such is the banking operation system. Thus, planning the move is essential. The game plan will change depending on your sector choice. If the job seeker fumbles in the planning stage, then they 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 cut the SBI PO exam. But in reality, your GK or puzzle-solving skills are too weak to take you through the preliminary level. An expert’s task is to analyze the candidate’s overall aptitude and then come to a conclusion. If the final inference is adverse, the applicant must concentrate on specialized financial courses, eventually taking them to the top post.
Having an idea about your career is essential. Experts believe that identifying a candidate’s strengths and weaknesses early will provide them adequate time to prepare and attain their goals. It is early for a school or college student to decide which professional field they will finally end up in; 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. If you fail to 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.