Job Description of Financial Manager
Financial management is a critical function in any organization, and comprehensively grasping the field’s many aspects is essential for students interested in pursuing a career in this field.
There are many different career options available in financial management for students in India. Some possible career paths include working as a financial analyst, financial planner, or investment banker. Financial managers typically complete at least a bachelor’s degree in business administration or economics. However, there are many different financial management jobs, so students should explore all their options before deciding on a career path.
Each available career path in financial management offers its own unique set of challenges and rewards. While it’s true that each of these careers generally requires completing a bachelor’s degree in business administration or economics, there are many possible specializations to look over carefully. Students interested in pursuing any career in financial management should research the options before deciding which one is right for them.
Job Description of Financial Analyst
A financial analyst is responsible for analyzing financial data and making recommendations to management about using that data to improve the organization’s financial health. Financial analysts focus much on helping their organization or investors locate profitable investments.
This requires expertise in creating understandable financial models and an ability to assess the performance of stocks, bonds, and various other kinds of investments.
That said, there are many variations within financial analyst jobs, so students should be sure to explore a wide swath of options before deciding on a career path.
Job Description of Financial Planner
A financial planner is responsible for helping individuals and families plan for their futures by creating a budget and investing in specific goals. A financial planner often deals with client goals, including buying new homes, paying off debts, allocating for retirement, and guiding investments in stocks and bonds.
There are fiduciary and certified financial planners. Both are legally obligated to act in their client’s best interests. Still, the real difference is that certified financial planners often work on a fee-only basis, which means they’re only compensated by you and not any of the products they offer. Certified financial planners also undergo more rigorous educational and ethical training than fiduciary planners.
As always, there is heavy diversification within the financial planning industry, so students must thoroughly explore all their options before deciding on a career path.
Job Description of Stockbroker
A stockbroker is responsible for buying and selling stocks on behalf of clients. They are regulated by the Securities and Exchange Commission and generally work on a commission basis, receiving a percentage of their trades. A stockbroker’s compensation is often tied directly to their overall performance. They can earn as high as 40% of the value of their transactions and as low as 25%.
There are also different types of stockbroking firms. Full-service firms typically pay a lot of attention to client accounts and offer a good deal of advice. On the other hand, discount firms often execute the trades their clients propose without too much oversight or intervention.