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The job of a Financial
Analyst is centred on collecting and analysing financial
information, identifying trends and making economic forecasts. These
analysts produce reports to provide financial and investment advice to
clients.
font class="text" Financial analysts work for banks, financial advisory firms, insurance
companies, pension funds, securities firms and other businesses that
require assistance with investment decisions. Some set up their own
financial consultancy firms.
Chartered Financial
Analyst (CFA) is a career of rather recent origin in India. It
provides multiple career opportunities in banks, financial institutions
and the corporate sector. The CFA Programme is conducted by the
Institute of Chartered Financial Analysts of India (ICFAI) for both
executives and fresh graduates.
The programme does not
lay much emphasis on book-keeping, auditing and taxation which are
covered by programmes like CA and ICWA. Instead, it is designed for the
corporate sector, the investment industry and the financial sector.
The pay scale is good. To
start off as a junior dealer, you would earn around Rs. 10,000-12,000 a
month depending on the organisation you are working with. If you are
from premier institutes like IIMs, working with multinationals, then you
could expect around Rs. 40,000-60,000 to begin with. Depending on your
experience, performance and the organisation you are working with, you
could earn around 3.0-4.5 lakhs p.a.
IT firms recruiting at
Indian Institute of Management, Bangalore (IIMB), will have to pull up
their socks. After lying low for a few years, international investment
banks have made a gritty comeback to the campus. Investment banking and
finance firms took the top slot in terms of sector-wise preference among
students for summer placements (internship for first year MBA students)
this year: 122 of the 233 students of Batch 2007 decided to do their
internship with financial or investment banking firms.
The IT sector, which
stood first last year in the preference list, was pushed to the third
place after marketing (39). In fact, only 30 students accepted
placements in IT firms. The average stipend this year for domestic
locations was Rs. 17,000 while for foreign offers, it was as high as US$
5,000 a month (Rs. 90,000 and US$ 7,000 were the highest stipend offered
for domestic and foreign offers respectively). After having some of Wall
Street biggies like Goldman Sachs, Deutsche Bank, Barclays Capital,
Lehman Brothers, making a beeline for its campus placements in foreign
locations, IIMB equalled its own record with the entire batch getting
summer offers within three days. A total of 90 companies descended on
the campus and made 348 offers, 1.5 offers per student.
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