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To work as a finance manager After graduating from high school, students can enrol in a variety of diploma, undergraduate, and graduate finance, management, and financial risk management programmes. Numerous Top Finance Colleges and Institutes in India accept applicants based on results from a variety of Management Entrance Exams, including the CAT, MAT, XAT, and SNAP.
Financial Manager Course Highlights
Steps To Become a Financial Manager
To understand how to become a finance manager, there are a lot of steps that must be taken. Here, we prefer to justify those processes in more detail:
Stage 1: To embark on the path of becoming a finance manager, start by achieving a minimum of 55% overall grade point average (CGPA) in your class 12 board exams or equivalent from a recognized board. Preference is often given to candidates with a business background, equipped with knowledge in subjects like mathematics, accounts, economics, and financial management.
Step 2: Aspire to become a finance manager by pursuing relevant fields such as finance, bookkeeping, business administration, or finance-related degrees. Complete your graduation in a related subject that resonates with your interests. Consider exploring educational institutions that align with your preferences and seek graduate programs in these fields. This advanced education sets you apart and enhances your readiness for the finance manager role.
Step 3: Secure internships, a crucial third step in your journey towards becoming a finance manager. Gain practical experience by working in finance-related roles, be it as a temporary bank employee or part of an accounts receivable team. Opportunities also exist in insurance discussions, overseeing credit, budgeting, or personal finances.
Step 4: Enter the field confidently by preparing an impressive resume and applying to top corporations and organizations. Your education and hands-on experience will boost your chances. If selected, you’ll be invited for formal interviews, and upon success, you’ll be offered the coveted finance manager position.
How To Become Finance Manager in India
Given the significance and necessity of finance managerial positions in India, there are a number of procedures one should take to ensure a hassle-free experience. Here are a few of the most important actions one should take if they want to work as finance managers in India.
- The minimal educational need for finance managers is typically a bachelor’s degree in finance, accounting, economics, or business administration. But many firms now demand applicants with a college degree, preferably in business administration, finance, accounting, or economics. These educational initiatives help students learn financial analysis techniques, tools, and analytical abilities.
- Registrations, certifications, and licences for financial managers: Although it is not necessary, some finance managers still see the value in demonstrating their level of proficiency. Investment professionals can earn the leased analyst (CFA) certification from the CFA Institute. The World Health Organisation has three tests to pass, a bachelor’s degree, and four years of work experience. Those who have earned an associate degree in communication and have at least two years of related experience are eligible for certification as a certified Treasury Professional from the Association of Financial Professionals. Certified public accountants (CPAs) who are licensed by the board of employment in their state must successfully complete an examination administered by the American Institute of Certified Public Accountants (AICPA).
- Work Experience in a Related Profession for Finance Managers: Finance Managers occasionally have experience in related finance or business fields. They may have held positions as a securities salesperson, analyst, loan officer, or accountant, for example. In some circumstances, businesses provide structured coaching programmes for managers to help highly sensitive and motivated people become money managers.
How To Become a Financial Manager After Class 12
After passing the Class 12th board exams, the following are some essential actions you must take to become a finance manager for your reference:
- UG Preparation: After completing class 10+2, a student must pass an admission exam and finish a 3–4 year undergraduate programme. In India, the graduate programme lasts for three to four years, after which you will need to complete an internship to obtain experience. The student must have taken commerce in class in order to graduate with a 50% grade point average.
- PG Preparation: Following completion of the undergraduate programme, students will complete a year-long internship before choosing to continue their studies in order to increase their pay.
Skills Required To Become a Financial Manager
For your convenience, the most important set of competencies required to become a finance manager is summarised below.
- Business and commercial awareness
- Having effective negotiating skills will help you influence others.
- Time management abilities
- Outstanding Presentation and Communication Skills
- Strong Attention to Detail and Inquisitive
- NatureThinking strategically for the group
- Possibility to mentor and motivate others
- High Achievement and Strong Technical Capabilities
- Ability to Solve Issues and Initiatives
- Ability to make quick decisions that are also considered
Jobs After Financial Management
Students who have earned a degree in financial management can expect to make between INR 7,50,000 and INR 10,00,000 annually. JP Morgan Asset Management, Capital Research Management Co., Blackrock Fund Advisor, Goldman Sachs Asset Management, and others are a few of the top recruiters for the post of finance manager.
Frequently Asked Questions
Q: What are the prospects for employment for a finance manager?
Ans: To enhance job prospects for finance managers between 2018 and 2028, the Bureau of Labour Statistics developed a questionnaire with 16 personality factors. Within the next ten years, it is projected that demand for finance managers with experience in fields like risk management and financial management would increase significantly.
Q: Why do you need to think about becoming a finance manager for a career?
Ans: If you’re interested in money, good with numbers, and ready to deal with it, you can easily join the top 10% of earners.
Q: What are the primary responsibilities of a finance manager?
Ans: A few of the top job descriptions include
- Manager Consultants and Cash Managers
- Investment Banking Associates
- Managers & Experts in Credit
- Financial Expert
Disclaimer: This content was authored by the content team of ET Spotlight team. The news and editorial staff of ET had no role in the creation of this article.