Best Paying and Steady Jobs for Commerce Graduates

The Banking, Financial Services and Insurance sector (BFSI) is poised for a massive leap in geographical and volume growth.

With the issue of new banking licenses by the Reserve Bank of India, and the launch of payment banks, employment opportunities in the BFSI are projected to expand at logarithmic rates. And, the icing on the cake is that the sector holds out prospects for careers that are at once challenging and lucrative, provided the candidates are geared with knowledge of advanced financial instruments and structures, quantitative analytical techniques, consummate communication skills, etc.

The work dimensions offer employment possibilities at the entry level with prospects for rewarding career progression.

Job Role: Funds Management

Fund management decisions are designed with the objective of maximizing returns to the investors, albeit in alignment with the stated goals of the fund to which the investors have contributed.

The returns to the investor could be either periodical returns or long-term growth depending upon the financial goals of the investor. The target is to exceed the performance of the benchmark index and, at least, the median performance of funds in the peer group.

Appointment and Responsibilities
The appointment at the entry level could be as fund analyst or risk analyst.

The analyst would be engaged in the study of the performance of equity shares, debt instruments, currencies, hybrid instruments, commodities, money market instruments, etc.

Apart from the oft talked about mutual funds, the analyst could also be involved in the management of hedge funds, insurance funds, pension funds or trust funds, depending upon his analytical aptitude and performance.

The analyst would be responsible for tracking financial markets, evaluating the signals from economic trends, assessing policy and regulatory impact, and analysing corporate prospects based on current indicators.

Career Growth
Consistently high-quality analysis, recommendations that prove spot on, and hunger for hard work would earn designations such as Fund Manager or, Investment Head or Treasury Head. Asset Management Companies such as DSP BlackRock, Franklin Templeton, HDFC Mutual Fund, Merrill Lynch, Fidelity Insurance, etc., offer career opportunities in the field of fund management.

Job Role: Financial Planning

The customer base for financial planning is usually High Net-worth Individual (HNI) and the target for the financial planner is the maximization of the wealth of the HNI.

HNI will generally act on the recommendations of their financial planner who will also be accountable for recommendations that backfire. Understanding and advising the client regarding his financial goals, and assessing his risk appetite are of the foremost importance.

Appointment and Responsibilities
At the entry level, candidates would be appointed as Financial Counsellor or Wealth Planner or Investment Planner and would deal with superannuation funds, equity linked instruments, debt market investments, insurance products, and real estate.

Knowledge of the investment markets, designing a financial plan that best fits the client’s future goals, exploiting investment opportunities, strategizing asset allocation that will generate profitable returns without taking unacceptable risks from the client perspective are the cornerstone of a successful financial  planner.

Career Growth
A performer who delivers consistently productive returns to his clients and unfailing customer satisfaction could rise to the level of Vice-President or National Relationship Head or Privilege Banking Head. Avendus Capital, Religare, Standard Chartered Bank, Kotak Wealth Management, and the wealth management divisions of all public sector and private sector banks scout for talent in this specialisation.

Job Role: Corporate / Business Banking

Corporate/business banking is built around the provision of customized solutions to corporate customers whose requirement of credit facilities may not fit within the structured products of the bank.

The credit facility may be for investment in capital expenditure programmes or for working capital cycle and would also include cash management and trade finance – domestic and international.

Appointment and Responsibilities
Entry level posts would be those of Desk Officer / Credit Officer / Cash Management Officer. The product sheet would include project finance, asset-based finance (not related to a specific project), working capital limits, guarantees and letters of credit, management of salary accounts of the customers, etc.

Career Growth
The ability to establish rapport with customers and present their cases skilfully for sanction would lead to progress up the hierarchical ladder to the posts of Business Head, Vice-President or Country Head.

All banks including major banks such as Yes Bank, Kotak Mahindra Bank, State Bank of India, etc. look out for talent in this sphere of banking.

Job Role: Financial Research

The importance of financial research as a specialist domain has increased with the realization that analysis of risks, historical trends, and extrapolations of future projections contribute to better-informed decisions that generate rich dividends or mitigate possible losses.

Apart from number crunching, the employee will also be required to be familiar with Government policies that may impact the industry, international commodity price movements, etc.

Appointment and Responsibilities
Career builders may secure appointment as Associate Research Analyst, Associate Quantitative Analyst or Associate Financial Modeller.

The post requires innate ability to deploy mathematical and statistical techniques taking into account both macroeconomic and microeconomic indicators to determine a course of action – whether to buy or sell a financial instrument.

The product range would include equity, debt instruments, commodities, precious metals, currencies, etc.

Career Growth
Future prospects in this field are rewarding and the best performers could aspire to reach the levels of Vice-President or Director or Partner.

Among the leading employers in the field of financial research are Motilal Oswal, Copal Amba (a Moody’s research company), India Infoline, PINC (Pioneer Invest Corp.), S&P Capital IQ, Prabhudas Liladhar, and the asset management companies of all mutual funds, treasury and risk departments of banks and corporate houses, brokerages, insurance companies, merchant bankers, etc.

Job Role: Investment Banking

The core responsibilities of an investment banker include assisting clients in fundraising in the form of loan syndication or mobilizing equity through Initial Public Offerings (IPO) including underwriting of the issue.

The canvas also extends to discovering opportunities for Mergers and Acquisitions for inorganic business growth.

The employee should be possessed of proficiency in the valuation of businesses – listed and unlisted, risk assessment of structured products, and superlative communication skills.

Being a whiz at mathematics is a great plus but, in equal measure, that talent should be accompanied by measured aggression, persuasiveness, ability to walk away from excessive risks and tremendous work ethics.

Appointment and Responsibilities
A career in investment banking would begin as an Analyst or Financial Modeller. The field of investment banking is not only extremely competitive but also highly dynamic.

Knowledge of the intricacies of debt and equity markets, contemporary awareness of innovative financial instruments and the ability to convince financiers of the risk-return benefits of client propositions are integral to success.

Career Growth
The fruits of an above average performance are elevation to the posts of Vice-President, Senior Vice-President or Director.

Leading companies in investment banking include JP Morgan, Goldman Sachs, JM Morgan Stanley, Deutsche Bank, Citigroup, Kotak Mahindra Bank, Credit Suisse, the investment banking arms of all major banks, consulting companies such as McKinsey’s, and audit firms such as KPMG, Deloitte, Ernst & Young and Price Waterhouse Coopers.

Gearing up for a Career in Banking
A good grounding and a sound academic, as well as practical knowledge of banking sector, can be had at the TKWs Institute of Banking & Finance, with their PG Diploma in Banking & Finance. This course not only provides fundamental clarity but also exposes the participants to all the essentials of banking & finance, including International banking.