Banking and Financial Services Degree to unlock Rewarding Career in 2024
Banking and Financial Services Degree to unlock Rewarding Career in 2024
It’s always an overwhelming thing to decide on a career option especially when it’s either for you or your children. There are so many options available in the education ecosystem that it not only confuses us on what to choose and which to leave but also distracts us from our core value system while making such decisions.
In the Indian context, it’s evident that most of the economic activities are dependent upon Banking and Financial Services provided by our financial institutions. So, this sector undoubtedly remains vital in the economic growth of the fastest-growing democracy in the World. This provides enough impetus to talk about rewarding careers in the field of Banking & Financial Services. Let’s explore in this article why a Degree in Banking and Financial Services can be a Game changer in making a lucrative career:
Introduction
In the era of technological advancements, Artificial Intelligence, and high-speed broadband facilities, our economy is booming with online services. Most online services are linked with financial transactions which are scrutinized by Regulatory Authorities. The Reserve Bank of India and its subsidiaries seamlessly monitor and control the financial landscape and its services.
A Degree in Banking and Financial Services not only provides the technical know-how of this ecosystem, remains updated with the intricacies of this domain, provides insight into trends and technologies, and makes a career that aligns with the industry demands.
According to the Bureau of Labor Statistics, employment in the financial sector is projected to grow 5% from 2021 to 2031, adding about 682,800 new jobs. This surge highlights the increasing demand for skilled professionals in this sector.
Insights of Banking and Financial Services Degree
This customized Degree is crafted to provide comprehensive knowledge of Financial institutions and their regulatory bodies. It provides technical skills related to financial systems, investment strategies, banking regulations, and more.
At institutions like Scope Global Skills University, the curriculum is crafted to meet industry standards, ensuring that graduates are skilled in subjects like:
- Financial Accounting
- Investment Analysis
- Risk Management
- Banking Operations
- Financial Markets and Institutions
- Link to the SGSU BFSI Course
As this course is made as an Industry Integrated program it ensures that students don’t just learn from textbooks but also gain real-world experience through internships and on-the-job experience. According to the National Association of Colleges and Employers (NACE) finance majors had an average starting salary of $58,464 in 2022, accentuating the financial benefits of this degree.
Benefits of Banking and Financial Services Degree
1. Skill Development in Financial Services
This degree provides the basic to advanced knowledge of the financial systems in India and the instruments to provide financial services. It teaches us to collate and analyze financial data and understand financial markets, their trends, and the regulations governing the economic landscape.
2. Industry Integrated Curriculum
The course curriculum for this course is specially made to cater to the needs of present financial institutions and their service delivery norms. It ensures that the employers are provided with well-trained manpower to start their work from day one.
3. Internships and OJT
The Curriculum of this course is designed to make it industry-relevant with practical skills needed to deliver the services. The internships and On-the-Job-Training stints help them to actively seek the best jobs as they are well equipped to take the responsibility. Scope Global Skills University, offers internships with leading financial institutions to get hands-on experience and networking with industry professionals.
4. High Earning Potential
The graduates with this Degree are getting high salaries as per a survey by the Financial Planning Association There is a constant demand for such trained professionals in the industry who are ready to pay good for their services. About 78% of financial services professionals believe that a specialized degree significantly enhances job performance and career advancement.
Career Options Banking and Financial Services Degree
The banking and financial services sector is expected to grow at 10% over the next decade, significantly higher than the average for all occupations, according to the U.S. Bureau of Labor Statistics, This trend sets the tone for the increasing demand for skilled professionals in this field. A degree in banking and financial services opens lucrative career paths. Here are some of the most promising ones:
1. Investment Bankers
Investment bankers help organizations to provide strategic advice and raise capital. They play a significant role in mergers and acquisitions of companies. According to Glassdoor their median salary of $101,500 per year.
2. Retail Bankers
Retail bankers work with individual and eminent customers of financial institutions to manage accounts, loans, and other financial products. It’s their skill to channel various financial products to the customer base of their Banks with financial expertise.
3. Financial Analyst
Financial Analysts evaluate the investment opportunities and trends in the market and provide their expert recommendations to businesses and individuals. They play a crucial role in guiding financial decisions and building a growing financial portfolio of clients with their skills.
4. Risk Management Managers
It is the crucial job of Risk Managers to assess and mitigate financial risks in an organization whenever they decide on setting up an enterprise or investing in a venture. This work is critical in ensuring the stability and profitability of financial institutions.
5. Corporate Finance Experts
Professionals in this field manage a company’s financial activities, right from budgeting uptoinvestment planning. This requires a strong understanding of both finance and business operations.
6. Financial Planner
Financial planners help individuals as well as businesses manage their finances, including savings, asset creation, estate planning, retirement plans etc. As per the Financial Planning Association this role is increasingly in demand as more people seek professional advice for their financial futures.
7. Actuary
Actuaries are trained experts in dealing with mathematical and statistical tools to assess risk in the insurance and finance industries. They play a critical role in designing policies and pricing strategies. A degree in Banking and Financial Services can create a substantial foundation to take up such job roles gradually with acquired technical acumen.
8. Credit Analyst
Credit analysts evaluate the creditworthiness of individuals and businesses. This role is essential in helping financial institutions manage credit risk and make decisions while applying for or granting venture capital.
9. Portfolio Manager
Portfolio managers oversee investment portfolios for clients, making decisions about asset allocation and investment strategies. This role requires a deep understanding of market trends and financial instruments.
10. Compliance Officer
Compliance officers ensure that financial institutions to adhere the required norms and regulations imposed by the regulating bodies. This role has gained prominence in recent years due to increased regulatory scrutiny by different financial institutions after the major Scams happening in the industry.
Companies & Institutions hiring Banking and Financial Services Professionals
Prominent Financial Institutions are seamlessly hiring graduates with a degree in banking and financial services. According to Naukri.com , the average CTC for entry-level roles in banking and finance ranges from INR 6-10 lakhs per annum, while mid-level roles offer is INR 15-20 lakhs per annum. The hiring locations in India are mostly in Mumbai, Delhi NCR, Bangalore, Hyderabad, Chennai, Pune, and Kolkata. Some of the top companies and institutions hiring are as follows:
HDFC Bank –One of India’s leading private sector banks is offering various roles in retail banking, credit analysis, and corporate finance.
ICICI Bank –Another leading top private sector bank in India, ICICI Bank hires professionals for investment banking, risk management, and financial analysis roles throughout the country.
Axis Bank –Axis Bank provides jobs in retail banking, corporate finance, customer and compliance.
KPMG, Deloitte, EY, PwC –These “Big Four” accounting firms offer roles in financial consulting, audit, and risk management.
Goldman Sachs, JP Morgan –These Global investment banks offer lucrative careers for young professionals in India to do investment banking, financial analysis, and portfolio management across their client base.
A LinkedIn report indicates that Mumbai and Bangalore are the top cities for getting the best finance job postings because of obvious reasons of having so many corporates and businesses operating in these cities.
Takeaways
A degree in banking and financial services offers numerous benefits, like gaining comprehensive knowledge and skill development of the specific domain to high earning potential and escalating career trajectory. The demand for skilled professionals in this field is on the rise, making it an excellent choice for students looking to secure a bright future.
In this context, considering a career in banking and financial services, enrolling in the program at Scope Global Skills University can be a transformative decision. With its industry-integrated approach, strong industry partnerships, and focus on practical experience, Scope Global Skills University is well-equipped to help you unlock lucrative career options in this sector. Don’t forget that the journey to a successful career starts with a first step taken forward. Make that step today by choosing a degree that opens doors to a world of possibilities.
Click here for more information: https://sgsuniversity.
FAQ
A degree in Banking and Financial Services provides comprehensive knowledge of financial systems, investment strategies, and banking operations. It opens doors to high-paying and stable careers in financial institutions, banks, and corporate finance. With the increasing demand for skilled professionals, this degree ensures long-term career growth and global opportunities.
Graduates can explore diverse roles such as investment banker, financial analyst, risk management manager, credit analyst, portfolio manager, financial planner, actuary, or compliance officer. Top employers include HDFC Bank, ICICI Bank, Axis Bank, KPMG, Deloitte, Goldman Sachs, and JP Morgan.
Scope Global Skills University (SGSU) offers an industry-integrated program that combines classroom learning with real-world exposure. Students gain hands-on experience through internships and on-the-job training with leading financial institutions, ensuring they are well-prepared to meet industry demands from day one.
An industry-integrated curriculum bridges the gap between theory and practice. It equips students with practical knowledge of financial systems, risk management, and regulatory compliance while helping them gain valuable experience through internships and real-world projects. This ensures graduates are job-ready and in demand by employers.
According to Naukri.com, entry-level professionals in banking and financial services earn between INR 6–10 lakhs per annum, while mid-level professionals can earn INR 15–20 lakhs per annum. Graduates from industry-focused institutions like SGSU often secure higher packages due to their hands-on skills and practical training.