Careers for Freshers in Financial Services Sector in India

fresher carrer

In the post-economic reform and liberalization era, the banking and financial services sector has witnessed rapid growth in India. As of 2007, the value of banking assets in India was growing at a compounded annual growth rate of 24 percent. A large number of mutual funds, venture capital funds and private equity funds have mushroomed in India with substantial foreign investments in this sector. Almost all of the world class financial services institutions and foreign banks have established their presence in India. More reforms in the financial markets in India are underway, creating conditions for increased job and career opportunities in the financial services sector for new entrants. (1)

The scope of financial services in India has grown manifold in recent years, and consumers have a much wider choice in terms of savings and investments. There is a broad range of brokerage firms, investment services, financial consulting firms, foreign and private banks, global insurance companies, taxation service providers, home loan and car equity firms and other banking companies now expanding their operations in the country. For young candidates there are bright career opportunities in the fields of financial advisory services, insurance and banking services, investment management, financial analysis, stock market consultants, broking agents, financial planners and economists. (2)

To make a good start in the financial services career, it is important to acquire specialized education from any of the prominent finance institutes and universities in the country. The education should preferably be of a graduate, post-graduate or doctoral level in the areas of accounting, finance or economics, depending on the ability, inclination and circumstances of the candidate. Based on the qualifications, the candidates can find lucrative jobs in the area of commercial banking, corporate finance, mergers and acquisitions, securities and commodity trading, money management, stock broking, real estate services, investment banking, treasury services, credit management and control, international finance, leasing and mortgage services, credit card services, and financial planning.

In the field of insurance, young professionals can expect to find jobs in the area of insurance agent and brokerage services, actuarial services and insurance claims and adjustment and service management. Money management is also specialized field that offers careers in the areas of portfolio management, investment advisory services, risk management, mutual fund analysis, foreign exchange trading and services and hedge fund trading. In the area of real estate services, there are rising career opportunities in commercial as well as residential real estate brokerage services, property management, project finance and real estate appraisals. (3)

One of the latest upcoming career opportunities in financial services sector in India is in the field of financial planning. There is a major demand-supply gap in this field and youngsters can seize the advantage to make a lucrative career. If a candidate already has a specialized qualification such as chartered accountancy or MBA finance, he or she can opt for additional specialization in financial planning by undertaking a certification course approved by the Financial Planning Standards Board (FPSB) India. Financial Planners offer expert opinions on issues like retirement planning, estate planning, financial management of small businesses, trusts, tax, stock broking and investments and debt and risk management. A career as a Financial Planner can be both challenging as well as rewarding. (4)

India has consolidated its economic position substantially in recent years in the global economy. The services sector as a whole is now the premier growth sector in India in all spheres. Financial services sector, which was traditionally lagging behind in the pre-reform era, has matured and evolved to a considerable extent already. The expansion in this sector continues, and deserving young candidates with a background in finance have a wide range of new career opportunities coming their way.


- Vikas Vij (views expressed in the article are that of the author)