Financial management is the most preferred option for students aspiring to pursue management education. If you are one of them, then it is essential to know certain insights on finance management. After all, every student must have a considerable amount of information before making such an important career choice.
What is Financial Management?
As the name suggests, financial management is concerned with the planning and controlling of the financial resources of an industry. It deals with accounts, book keeping, analyzing cost center, mergers, acquisition and expenses of an organization. Basically, you will learn about, profit and loss. Tax and investment are the two indispensable aspects of the finance management curriculum which the students will be studying in depth.
Banking and insurance is the major subject for a student pursuing a PGDM in finance management. The student will have to dig deep into international finance to get a holistic view of the financial situation around the world.
Scope and Opportunities after PG Diploma in Financial management
Students with a management degree in finance have umpteen opportunities in India and overseas. One of the most lucrative jobs is that of an investment banker. An investment banker is the one who helps the companies, organizations and government agencies to raise funds in the capital market and also provides merger, acquisitions and investment strategies.
Finance is the vital aspect of any organization worldwide. All those who are working as charted accountants can pursue a PGDM in Finance Management. The Stock Exchange is another avenue for a finance graduate. You might have heard of a tax consultant. He is an individual who works for tax deduction; tax payment and gives tax related advice to his clients. A management degree holder in finance can work as a tax consultant too.
Fraud analysis and money laundering are very interesting career paths after PGDM in Finance. Nationalized banks, finance ministry and other government agencies hire finance students too. Apart from all this, you can always be your own lord and master by having your own start-up or working as a freelancer.
Key Benefits of Financial Management
- Financial management is a little tougher, but the rewards and remuneration is a notch higher than the other specializations.
- You can be hired by the top notch companies and organizations.
- Salary is no bar for the qualified and skilled one. A financial manager can earn Rs. 3 to 4 lakhs per year at just the beginning of his career.
- Job security is very high as the skills of project management, business administration, and situation analysis are helpful in developing a competent employee who would be considered crucial especially during difficult economical times.
- You can enhance your educational qualification after financial management with a CFA or a CA.
- PGDM will surely change your life and make you reach new heights.
Above all, think of your goals, aspirations and interests before you make a choice.