Advantages of Pursuing Financial Management | Scope, Objectives & Functions
Financial management is the practice that businesses adopt to make plans to keep all departments within the business working in sync with one another. Professionals involved in the financial management team within a business develop long-term investment plans, expense reports, and budgetary allowances to ensure that the business runs smoothly while also amassing profits. There are many facets to financial management, and students from top management colleges in Maharashtra are trained to understand the financial requirements of a business.
Let’s take a look at the advantages, scope, objectives and functions of pursuing a career in financial management:
Advantages of Pursuing Financial Management
- Prepare for a Rewarding Career
Pursuing a financial management program can help you embark upon a bright career ahead. Professionals specialising in financial management can find job opportunities in diverse companies across industries. This is because businesses of all kinds, irrespective of the industry, require strong financial management to succeed.
- Growing Field with Tremendous Scope
There is a lot of scope in the field for skilled professionals with a background in financial management. Of late there has been much technological advancement in the field as well. There are many AI-backed tools and applications that help analyse financial markets, and also accurately predict upcoming market trends. Many management institutes in Maharashtra hold placement drives to help students find the right first job in the industry.
- Pursue Professional Certifications
There are many professional certifications you can pursue in financial management. Chartered Accountancy (CA) is one of the most sought after certifications in India today with a lot of scope. A CA is recruited by leading MNCs or has the option of going into practice for them self. They can work with a select number of clients and retain their independence.
- Efficient Fund Allocation
A financial manager within a business or organisation has to deal with complex tasks including scheduling, organising and controlling transactions to make sure that company funds are utilised efficiently.
- Design Effective Capital Structure
Financial managers have to create a proper capital structure where they maintain a decent cash flow, create financial reserves, reduce operating costs, and increase the efficiency of allocated funds. This is to ensure that the business is financially stable throughout the financial year.
Top Management Courses in Nashik
BBA Financial Management
This is an undergraduate degree spread across three years and six semesters. Professionals pursuing this degree can work in various financial establishments such banks, insurance companies, investment companies, stock market, etc. Students who have completed 10+2 in any discipline from a recognised board with minimum 50% aggregate marks can apply for this program.
After completing this program students can be placed as a Finance Executive, Loan Officer, Tax Assistant, Research Analyst, Internal Auditor, and Credit Analyst, to name a few job roles. They can be hired by Indian and international companies like ICICI Bank, HDFC Asset Management, Tata Capital, Indiabulls, and others.
MBA Financial Management
This is a postgraduate degree spread across two years and four semesters. Professionals pursuing this degree gain an in-depth knowledge about managing finances, organisational behaviour, economic trends, and financial market research. Students with an undergraduate degree from any field from a UGC-recognised university with minimum 50% aggregate marks are eligible for this program.
After completing MBA in Financial Management, students can be placed as Investment Bankers, Bank Managers, Research Analysts, and Financial Managers in leading financial institutions, MNCs, and public sector companies.
A degree in financial management can be a very smart decision, especially in these uncertain times. There is a distinct need for well-trained and qualified professionals in the industry today as more and more businesses need well-trained professionals to make astute financial decisions to help their business flourish. Some of the best MBA colleges in Nashik offer placement opportunities through annual placement drives so you might want to consider joining one of these colleges. Good luck!