Choosing a career in finance as a novice offers diverse opportunities, global relevance, intellectual challenges, and potential for career advancement. The field provides high earning potential, fosters transferable skills applicable across industries, allows for influence on business decisions, and offers extensive networking opportunities. Finance also involves continuous learning, and many roles provide job stability. Consideration of personal interests and long-term goals is crucial when pursuing a finance career.
It may seem overwhelming to try your hand at a new field, such as finance, which is both demanding and complex, or to change your career path. We’re here to help lessen some of the ifs and buts that may be racing through your head.
What do Industrial trends about finance have to say?
The finance industry has historically seen steady job growth, driven by factors such as economic expansion and globalization. Technology integration, particularly in fintech, has created new opportunities, especially in roles related to data analytics, artificial intelligence, and cybersecurity. The COVID-19 pandemic has accelerated remote work trends in finance. There is an increased focus on cybersecurity due to rising cyber threats. Sustainable finance and environmental, social, and governance (ESG) considerations have gained importance, leading to new job roles.
Research published by Bank of Baroda Economic Research states that India Inc. experienced 10.2% job increase in the fiscal year 2021–2022. A staggering 93% of India Inc.’s 3.82 lakh net employment growth during the same period came from the IT, banking, and finance sectors. That’s some intriguing fact, isn’t it?
What should you consider before stepping into the world of finance?
The country’s financial sector is multifaceted, comprising banking, insurance, capital markets, and fintech, among others. Each subsector offers unique opportunities, and individuals must assess their interests and skills to determine the most suitable path.