Money is a terrible master, but an excellent servant, as Phineas Barnum memorably said. However, with a professional career in finance, you can tame this famously terrible master with relative ease. Here are a few sub-branches of finance that you can consider as a career option.
1. Investment banking
You can work in an investment banking firm like Goldman Sachs, or JP Morgan Chase, on activities like merger and acquisition, investing and pricing unique financial instruments, financial remodelling, etc. It is a challenging profession that requires hard work, application, and often, extra hours. However, it is also one of the most highly-paid career options in the financial world.
2. Risk Management
If consulting attracts you, risk management can be a fitting choice. You will be advising your clients on the risks involved in their business processes, investment opportunities, or market risks. Risk management professionals design risk mitigation strategies, and minimise uncertainty and losses in business.
3. Portfolio Management
As a portfolio manager, you will be looking at the investments made by your client or company, and analysing them in greater detail. You will make decisions on the organisation's investment policies and rearrange the asset allocation across different asset classes. You will try to maximise the returns from the investments using your expertise while minimising the risks involved.
4. Corporate Finance
You will be involved in areas dealing with funding sources, corporate capital structure, maximising company worth for shareholders, and allocation of financial resources. You will also carry out activities like budgeting of the company’s finances, revenue projections, and forecasting, advising top management on strategic financial decision making, etc.
An accounting professional is involved in the maintenance of the company’s financial books or accounts. You will record and report all incoming and outgoing cash flow, identify and highlight financial weaknesses, and work on corrective actions. At a senior level, you will report the financial position of the organisation to the top executives and the board.
6. Stock Broking
A stockbroker studies the share market, listed companies, and their share performance, and all relevant patterns, trends, and market developments. Apart from the knowledge of the share market, a stockbroker is someone who can analyse a large volume of data, infer statistical data, and advise clients on market conditions and market behaviour.
A career in finance is preceded by a relevant professional degree in the relevant field. It gives you an edge while seeking entry into the desired career option in finance.