Why Finance?

Jobs & Careers
149
Hello,

I wanted to know that except these courses, there is CFP...... howz that? what are its scope...... i am doing PGDM finance major and have wealth management as a subject and i am finding it very interesting.... but i am not sure abt its demand in industry.....


Regarding your query about scope in wealth management , I want to reiterate the fact that scope is tremendous and you can surely join the private banking branch of any bank to make a successful career in the domain 😃
150
Hello,

I wanted to know that except these courses, there is CFP...... howz that? what are its scope...... i am doing PGDM finance major and have wealth management as a subject and i am finding it very interesting.... but i am not sure abt its demand in industry.....


Ofcourse u r right when u have doubts over CFP's scope. In India the concept of Financial planners is very new but yes it is surely something which will be big once the financial literacy grows among people.

As Abhi has pointed out wealth mgt is one area where CFP will be considered a plus.

You can try for CFP but if u dont have any intentions with regards to going abroad combine it with something in Income Tax coz in India Financial planning is very focused on Tax planning not just for individuals but also HNIs & corporates
151

Can anyone throw some light on this one?

Seniors

I am keen to know which companies/banks, over the globe, are really considerable for Asset Mgmt., Wealth Mgmt., Investment Mgmt. & Security Analysis and Portfolio Mgmt. Also I am interested to know what are the roles offered post-MBA, in this field. Can I enter pre-MBA, in order to get experience?

As far as I know, Swiss Banks are really good for Asset & Wealth Mgmt. And all major Banks & I-Banks have these departments (from where they print money )

But I'd like to know which companies/banks have the edge.

Thanks, in advance!
152

Thanks Harry U have thrown a good light on Differnt streams in Finance .It will surely clear our confusions regarding this field especially for those who are from non-Fin background.

153
Hey living,

Why aren't you interested in Client Facing? Because in Finance at some phase you'll have to do that, unless you want to stay back office and keep earning low! (I mean lower than other roles, which involve client facing). Client facing will teach you a lot about different people, how to deal with them (as well as how not to!). It will not only help you but also groom you!

Loving numbers won't be enough, you'd need to play with numbers and make a very beautiful story (profits!) out of it. If you can do that, voila!

Accounting, KPO jobs in IB, sales & trading, PE involve number crunching. But it doesn't mean that you won't have to face client.

Change your perspective and world will be much bigger (and much better!) for you :)

Well said Friend ...
I would like to know specifically which field in Finance (after MBA ,such as Corporate,IBank,Risk ,......)gives u more exposure to client facing and get to know other people and thus have varied experiences .........instead of sitting all the time before screen ,anlalyzing market trends,doing calculations and making speculations all the time...(which I think will become monotonous at some point of time ).
154

IS CFA specially designed for Asset / Portfolio Management???
Will it wont help u for other fields in Finance Such as Investment Banking or Risk mAnagement or Corporate Finance ..???
I am very looking for a field in finance which gives u vivid exposure on many thing,including meeting clients,Companies rather than only anlayzing stock market and crunching numbers..?Could u suggest one ??I am very ignorant in finance domain as I am from software industry.Thanks.

155
Its good that numbers are your strength. You can do a lot with it, if you know how! I'd like to add that with this strength, just be open to face clients. You might not know how many wonders it can do! Because if you consider a long term perspective, you will literally start hating number crunching (this happens, I've seen it). You'd just want to move out of it.

Just consider the scenario : after a decade or more working in that field you suddenly feel that your life is just limited to bunch of papers and now you want to go out and meet people and you want to make deals but you haven't developed interest for it nor have you the strength, so what do you do now? You might feel that it'd have been better if you'd learned those skills. So think and decide!

Well, I am just saying, you know. Rest is up to you.

Well, doing MBA Fin from a non target B School can land you a job in the back/middle office work of IB, which might interest you. But work experience outweighs any certificate. For the sake of knowledge you can opt for NCFM, FRM, PG Diploma in Finance. Go for CFA only if you are interested in asset/portfolio/fund management. Else, for you, its just not worth doing. Because you'll have to spend a lot of time & money for CFA.

To know more on FRM read this thread.

Hope this helps!



IS CFA specially designed for Asset / Portfolio Management???
Will it wont help u for other fields in Finance Such as Investment Banking or Risk mAnagement or Corporate Finance ..???
I am very looking for a field in finance which gives u vivid exposure on many thing,including meeting clients,Companies rather than only anlayzing stock market and crunching numbers..?Could u suggest one ??I am very ignorant in finance domain as I am from software industry.Thanks.
156
Well said Friend ...
I would like to know specifically which field in Finance (after MBA ,such as Corporate,IBank,Risk ,......)gives u more exposure to client facing and get to know other people and thus have varied experiences .........instead of sitting all the time before screen ,anlalyzing market trends,doing calculations and making speculations all the time...(which I think will become monotonous at some point of time ).


Thanks for the appreciation, mate :)

Well, (according to my knowledge) there isn't just a single field, in Finance, which will give you more exposure to client facing. There are a few where you can see this happening. I'll name a few that I am aware of.

One of it, obviously, is I-Banking. I-Bankers meet lots of people. Not all of the same type of people. They get in touch with lawyers, accountants, CXOS and may other hot-shots As they are on the sell side (or deals side) they have to meet many (potential.!) clients. IB, I think, makes your contact book bigger ;)

Then there are Asset / Wealth Managers who manage assets / wealth of many people and many HNIs. So here also you get to know many folks.

Fund managers / Portfolio managers also have to meet with many top guns of various industries, in order to make investment(s) in their company, which in turn might give them a better return for the portfolio (and a fat bonus for themselves )

Further, if you combine Finance+Marketing, you'll definitely have to contact many clients. These kind of roles involve marketing / selling many financial products / services. There are numerous roles in this field too.

I hope this helps 😃
157

guys. unless one gets into IIM A, B, C ,ISB or XLRI, one can say bye bye to investment banking jobs right ?

Also even if you get into one of the b schools the chances of ur being selected are very slim coz most of IITians and expereiced guys are shortlisted for such profiles.
so the outlook is bleak for guys who are from non - IIT , non engineering background.

What options do such people have in finance.
I was in risk consulting aka internal audit aka risk advisory services in a big 4 , in the metals & mining and Oil & gas sectors.
I did not enjoy the work that much as it involved finding risks ( basically sc**wing the client.)

158
IS CFA specially designed for Asset / Portfolio Management???
Will it wont help u for other fields in Finance Such as Investment Banking or Risk mAnagement or Corporate Finance ..???


The main purpose of CFA is that you become a ninja at analyzing equities & other securities. So Asset / Portfolio Management would be THE right choice after completing CFA. But yeah, it will help in IB. If you are considering Risk Management, FRM will be much beneficial to you, CFA won't do much good. For Corporate Finance also I think CFA won't be of any use. You'll get an idea, of preferred choices of career after CFA, by visiting this link. Mainly, CFA is all about investment.

laconic Says
I am very looking for a field in finance which gives u vivid exposure on many thing,including meeting clients,Companies rather than only anlayzing stock market and crunching numbers..?Could u suggest one ??


I've replied this in the previous post :)

laconic Says
I am from software industry.


I am on the same ship 😃 😛
159
guys. unless one gets into IIM A, B, C ,ISB or XLRI, one can say bye bye to investment banking jobs right ?

Also even if you get into one of the b schools the chances of ur being selected are very slim coz most of IITians and expereiced guys are shortlisted for such profiles.
so the outlook is bleak for guys who are from non - IIT , non engineering background.


I'd agree with you, but then both of us will be wrong 😉 Although first 3 of mentioned B-Schools are piece of cake for a would be I-Banker But its not entirely true that other guys can't be an I-Banker. For that you need to be a ninja at making contacts at Bulge Brackets and you should be through with your understanding & knowledge. Because for the crowd of IIM it is assumed that they are smart, intelligent, they can represent themselves very well and they can handle sheer pressure, which are the essential qualities for an I-Banker.! But for other people, they need to be through while recruiting them. You can take your pick, though 😃

Just to add : If you look at placement reports of tier-2 B-Schools, you may find I-Banks going there. But hey, these reports don't mention the roles offered to them, do they? Because the roles of offered at these B-Schools are not front office roles. Generally they offer back / mid office roles.

If you want to get to know all about of IB then you got to visit this URL. You'll gain tremendous insight about the field.


What options do such people have in finance.


There are lots of : 😃 Finance is a very very vast ocean, as you know, and IB isn't the Poseidon of it, I'd say.

You can consider Retail Banking, Commercial Banking, Asset Mgmt., Portfolo Mgmt., Risk Management, Wealth Mgmt., Corporate Finance, Back & Middle Office IB, Financial Services, Treasury Mgmt, CFA, CFP, CA, Sales & Trading, so & so forth.

Keep exploring the ocean and you'll find your pearl 😃 ( and a harbor as well 😉 )
160

I believe as far as front office jobs go, what you say is true. It's tough for students from B-Schools other than IIM A,B,C, XL & ISB to straightaway break into front office / client-facing roles.
But middle-office and back-office roles are manageable and very much possible, provided the student has a decent academic background and relevant work experience (I say this from personal experience and a few other cases I have seen). Then it doesn't matter whether you are an IITian or not.
Obviously the time taken for such guys to progress from middle/back office to client-facing would be longer. Again the IIT theory could be true for quant-intensive roles like structuring, fixed income etc.

Just my take on it!!


guys. unless one gets into IIM A, B, C ,ISB or XLRI, one can say bye bye to investment banking jobs right ?

Also even if you get into one of the b schools the chances of ur being selected are very slim coz most of IITians and expereiced guys are shortlisted for such profiles.
so the outlook is bleak for guys who are from non - IIT , non engineering background.

What options do such people have in finance.
I was in risk consulting aka internal audit aka risk advisory services in a big 4 , in the metals & mining and Oil & gas sectors.
I did not enjoy the work that much as it involved finding risks ( basically sc**wing the client.)

161

Good news for CAs and MBA Fin

http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/your-agent-cant-be-your-financial-advisor-sebi/articleshow/10586942.cms

The Securities and Exchange Board of India (Sebi) recently put out a draft proposal to segregate the role of an agent and an advisor, as there have have been numerous complaints about misselling of products by the so-called advisors

The new advisor will be very different in terms of qualifications as well as record-keeping. The individual who wishes to get registered as an investment advisor should acquire a professional qualification from a recognised institute (for example, chartered accountancy from ICAI, MBA in finance or a similar qualification from a recognised university) or should have at least 10 years of relevant experience or a certification from NISM or such other organisation approved by Sebi for the purpose

seniors can tell in more detail how this thing will have effect on us :)

PS:Content is ccopied from above article 😃

162

CAs & MBAs acting as Insurance agents is not something new but yes in case of CAs it was not allowed under CA act which will now be changed after this paper is tabled in SEBI.

But yes indeed this will benefit the customer as we will not be pestered by insurance agents tryin to missell useless products in the name of Tax Planning, pension plan.etc etc etc

Most people buy wrong insurace/investments products but tht is primarily due to lack of financial literacy & the prevalent misseling in the market

Good news for CAs and MBA Fin

Your agent can't be your financial advisor: SEBI - The Economic Times

The Securities and Exchange Board of India (Sebi) recently put out a draft proposal to segregate the role of an agent and an advisor, as there have have been numerous complaints about misselling of products by the so-called advisors

The new advisor will be very different in terms of qualifications as well as record-keeping. The individual who wishes to get registered as an investment advisor should acquire a professional qualification from a recognised institute (for example, chartered accountancy from ICAI, MBA in finance or a similar qualification from a recognised university) or should have at least 10 years of relevant experience or a certification from NISM or such other organisation approved by Sebi for the purpose

seniors can tell in more detail how this thing will have effect on us :)

PS:Content is ccopied from above article :)
163

Hey Puys,

Does anyone know how much the CFA (international - AIMR) weighs in Indian context? Do Indian employers & B-Schools give any consideration or preference to CFA? What are the job prospects for CFA guys? I mean, globally they have brighter prospects and they are much respected in the investment industry & everywhere, but what is Indian scenario for such professionals?

Thanks, in advance 😃

164
Hey Puys,

Does anyone know how much the CFA (international - AIMR) weighs in Indian context? Do Indian employers & B-Schools give any consideration or preference to CFA? What are the job prospects for CFA guys? I mean, globally they have brighter prospects and they are much respected in the investment industry & everywhere, but what is Indian scenario for such professionals?

Thanks, in advance :)


Of Course CFA holds relevance here & in fact in India its a big plus as the content is world class & they command enough respect in the investment industry.
Job Prospects are also reasonable enough as this field is well tapped now & every one in the investment field & every one who is doin an MBA(Finance) is doing CFA. So if u r hoping for some advantage over others in placements coz ur a CFA then....not much dude!!!
165
I'd agree with you, but then both of us will be wrong 😉 Although first 3 of mentioned B-Schools are piece of cake for a would be I-Banker But its not entirely true that other guys can't be an I-Banker. For that you need to be a ninja at making contacts at Bulge Brackets and you should be through with your understanding & knowledge. Because for the crowd of IIM it is assumed that they are smart, intelligent, they can represent themselves very well and they can handle sheer pressure, which are the essential qualities for an I-Banker.! But for other people, they need to be through while recruiting them. You can take your pick, though 😃

Just to add : If you look at placement reports of tier-2 B-Schools, you may find I-Banks going there. But hey, these reports don't mention the roles offered to them, do they? Because the roles of offered at these B-Schools are not front office roles. Generally they offer back / mid office roles.

If you want to get to know all about of IB then you got to visit this URL. You'll gain tremendous insight about the field.



There are lots of : 😃 Finance is a very very vast ocean, as you know, and IB isn't the Poseidon of it, I'd say.

You can consider Retail Banking, Commercial Banking, Asset Mgmt., Portfolo Mgmt., Risk Management, Wealth Mgmt., Corporate Finance, Back & Middle Office IB, Financial Services, Treasury Mgmt, CFA, CFP, CA, Sales & Trading, so & so forth.

Keep exploring the ocean and you'll find your pearl 😃 ( and a harbor as well 😉 )


A very useful url indeed .Thanks a ton.
166
Hie..Well I am going to do MMS from 2011 to 2013...so in 2nd year...if i take finance...wat would my job profile be like??...Is it the same as a CA/CS?...

Secondly...is CFA necesary for finance??

Thirdly...is finance an interesting sector...are subjects interesting..as like marketing??


It depends on individual. If you are choosing finance as major you should have passion for that. It is not only for finance, for marketing too.
If you are doing MBA you have to be advanced and outstanding no matter which field you choose.

If you have CA/CS then you have edge in MBA. But don't build ego. You have to work in worst situations too.

Hey Puys,

Does anyone know how much the CFA (international - AIMR) weighs in Indian context? Do Indian employers & B-Schools give any consideration or preference to CFA? What are the job prospects for CFA guys? I mean, globally they have brighter prospects and they are much respected in the investment industry & everywhere, but what is Indian scenario for such professionals?

Thanks, in advance :)


You have an edge , go ahead.

Hi all.

I am a software engineer with 2 years work experience.I am seriously targeting CAT-2012 hoping to get in top mba school.I want to know as a fresher what certificate/basic knowledge will boost my chances in doing so?


Better you focus on your analysical skills.

I have 3 years of work experience in manufacturing. I want to do MBA in finance. Will experience in manufacturing become obstacle for doing MBA in finance?
And I have done two NCFM certifications(Securities Market & Commercial Banking In India). Will that hep?


You should have zeal, doing majors in finance.
And NCFM will also give edge.

All the best.
167
Hello Everyone,

I am in B.com(h) 3rd year and planning to do a course in finance. can anyone suggest me which institute and which course should I go for?

Regards

Nids

If you are topper in CAT .. you can choose form IIM's.

For MAT you can send your comp. score to ITM, Asia-pacific, IILM, NIILM, EMPI, JAipuria, Crist, Alliance .

All the Best.

Hello Everyone,

I am in B.com(h) 3rd year and planning to do a course in finance. can anyone suggest me which institute and which course should I go for?

Regards

Nids


you can apply for NDIM, IILM, ITM, Christ, Alliance. (MAT exam)

shantanu291981 Says
which has better Job prospects Portfolio management or equity research ???.


It depends on your knowledge and interest.
But if I have to choose I will go ahead with equity research.

If you have CFS than it will help you to built you career in portfolio management.

abhimukh19 Says
Regarding your query about scope in wealth management , I want to reiterate the fact that scope is tremendous and you can surely join the private banking branch of any bank to make a successful career in the domain :)


Is there a good scope in IPO reacher too.??

laconic Says
Thanks Harry U have thrown a good light on Differnt streams in Finance .It will surely clear our confusions regarding this field especially for those who are from non-Fin background.


It will depends only if you are going to choose your major in finance . But yes you should be clear in financial terms and concepts.
I think basic knowledge you will get you your initial months.

Don't worry about non-finance background be passionate about money. You just have to manage them.
168

Finding this thread really helpful as am very keen on taking up finance in MBA.
I have just finished my engineering. Have shortlisted few colleges( other than IIM's) for this:
TA Pai
MDI Gurgoan
FMS
Great lakes, chennai

Pls let me know your view on these and would be very thankful if someone can suggest other good colleges I can apply to.

Thanks in advance