Finance basically is a field that teaches you how to manage money and also multiply it. It is a vital field and has maintained its importance throughout time. Finance was an essential field in ancient times, and medieval times and it still is a vital field. We cannot really measure the importance of finance, we can just say that finance is a vital field in running the world.

Finance is an essential factor that for example determines the amount of tax the public needs to pay, which gives an estimate to the government of wealth it has or will receive. It determines the profit or loss of organizations, without which the companies wouldn’t have the motivation to work. Finance is the motivation for a common man to get up and work every day. These are a few among many importances of Finance. In the below article we are going to discuss the scope of finance as a career and the best finance degrees or courses.

Scope of Finance as a career

The art of managing or multiplying money is what finance is all about. If you have mastered it, then your value will automatically multiply. The financial industry is currently the biggest employer service industry in the world. There are tons of job opportunities in finance. Most of them are very lucrative. We list the top 5 finance positions that you can aim for, which pay well:- 

Investment Banker:- Investment bankers track the investment of their organization and plan on how they can attain their financial targets. They mostly work on bonds or stocks and analyze their performance. This is one of the highest-paid jobs in India and in the world.

Salary:- Average salary of an Investment banker is around 9 LPA but with experience, it can go up to 16 LPA.

Financial Manager:-  Financial managers advise firms on investment opportunities that may multiply wealth. They might also be involved with managing risk and maintaining a balance in investments that an organization is making. This is a very responsible job and requires individuals with critical and decision-making skills. 

Salary:- The average salary of financial managers in India is around 10 LPA.

Economic Analyst:- Economic Analysts are the backbone of organizations or governments. They are involved in preparing charts or writing reports of economic models. These reports or charts help in forecasting the economic trends, which helps an organization in making decisions that help in stabilizing or booming the economy of an organization or country. They also help the government prepare for any financial crisis that, they may face in the near future.

Salary:- The average salary of an Economic Analyst in India is 54000 per annum.

Budget Analysts:- They are involved in preparing budgets for organizations or government agencies. Budget Analysts prepare the budget which helps the organization in maintaining their expenditure. They also suggest modifications in the expenditure of an organization to meet its financial goals.

Salary:- The average salary of a budget analyst in India is 8 LPA.

Accountant:- The job of the accountant is involved in maintaining the accounts of a company. An accountant records entries related to assets, liabilities, revenue, and expenditure. Small or large firms, each organization needs an accountant. Hence the demand for an accountant is really high. 

Salary:- The average salary of an Accountant in India is 3 LPA.

11 Best Finance Degrees and Courses

Having a valuable degree in Finance can really boost your career with opportunities all around you. Here’s a list of the best degrees or courses in finance with fees and pay you may get after obtaining a particular degree.

S.No.

Course or Degree

   Average Fees

Salary

1. 

Master in Bachelor of Arts(MBA)

7-10 lacs per year

7-20 LPA

2. 

Chartered Accountant(CA)

2 lac

6-7 LPA

3. 

Certified Management Accountant(CMA)

1 lac

5-8 LPA

4. 

Association of Chartered Certified Accountants(ACCA)

2.5 lac

6-16 LPA

5. 

Chartered Financial Analyst(CFA)

2 lac

6-18 LPA

6. 

Financial Risk Management(FRM)

1 lac

10-18 LPA

7. 

Certified Public Accountant(CPA)

3.5 lacs

7-9 LPA

8. 

Company Secretary(CS)

1 lac

3-5 LPA

9. 

M.com in Accounting and Finance

1 lac per annum

5-9 LPA

10. 

Actuary

1.8 lac

10 LPA

11. 

Cost accountant

1 lac

5-6 LPA

 

As we have discussed above, the importance of a course in finance is way too high. The syllabus is no less, students preparing for courses in finance have to give their 100% to clear the exams. Though the fees for courses in finance courses aren’t that high, the fees for MBA or M.Com can go a little high. If you wish to pursue MBA or M.Com from reputed Universities around the world, you will have to arrange a good amount of money for fees as well as for living expenses. In that case, you can go for an education loan, preferably through Wemakescholars. Wemakescholars is an organization that is funded by the Ministry of IT, Government of India. It connects students to suitable lenders for the best education loans. Request a callback from us today for a hassle-free education loan process.