Careers in

Accounting and Finance

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Why study Accounting and Finance?

•The Sensex crosses 11,000 indicating thumbs up for the

booming finance sector.

• Finance has become a lucrative career option from

being associated with LIC agents and Banking professionals to
Portfolio managers and Corporate Finance advisors.

•Today’s number cruncher geniuses in investments and equities

have a basketful of refreshing variety to choose from,
to stay ‘fiscally fit’.

•With global private equity funds like Fidelity and Temasek

Holdings and Insurance majors like AIG betting big on the
country, the finance sector is just becoming a rich hunting
ground for job seekers.
Why study Accounting and Finance?

•The banking sector witnessed strong growth in deposits and

advances during the year 2004-05. As of March 2005, the
number of commercial banks stood at 289.The aggregate
deposits of scheduled commercial banks increased from
US$ 331 billion in March 2004 to US$ 374 billion in March
2005

•The market share of LIC, has clocked 21.87% growth in

business at Rs.197.86 billion by selling 2.4 billion new policies in
2004-05. It is expected that in the years to follow new job
creations in this sector alone will touch a figure greater than
one lakh.

•According to Sonal Agrawal, Country Director, Accord Group, a

“At the lowest level, base compensation has gone up by 15-
20 percent. At the higher level, it is largely the variable
compensation that comes into the picture.”
Why study Accounting and Finance?

•26 percent of the class of 2006 at the Indian

Institute of Management, Bangalore (IIM-B)
accepted job offers in Finance with Consulting and
investment banking being their hot favorites.
•70 percent of this batch, in spite of having an
engineering degree chose a completely different
career in Finance after the two-year PGP course at
IIM-B.
•In 2004, 15 per cent of CAs joined BPO sectors. In
2005, out of 6,179 students, 35 per cent joined BPO
sectors. It is estimated that in the next five years,
this number will increase to 50 per cent from the
35 per cent
What is Accounting and Finance?
A career in Accounting and Finance provides opportunities
in various areas like-
Is Accounting and Finance for you?

The following table provides information

on skills & qualities required for
a successful career in Accounting
and Finance sector.
What is the study flow for Accounting and Finance?
The study route in Accounting and Finance
The study route in Accounting and Finance
The study route in Accounting and Finance
The study route in Accounting and Finance
The study route for Insurance
Colleges in India
Some Colleges offering B.Com with
specialization in Banking & Insurance and
Accounting & Finance (UG)-Mumbai

For further details refer the report on Careers in Accounting

and Finance.
Colleges in India
Commercial Banking, Retail Banking & Financial Planning

Insurance

For further details refer the report on Careers in Accounting

and Finance.
Colleges in India
Accounting & Corporate Finance

Investment Banking

For further details refer the report on Careers in Accounting

and Finance.
 Education Abroad

Accounting--US & UK

-Brigham Young University: Marriott

School of Business

-The College of William and Mary: Mason School of Business

-University of Arizona: Eller College of Management

-University of Florida: Warrington College of Business

-University of Michigan: Stephen Ross School of Business

-Certified Public Accountant (CPA)- American Institute of Certified Public n

Accountants
For further details refer the report on Careers in Accounting
and Finance.
 Education Abroad
Investment Banking,
Commercial Banking,
Retail Banking & Financial Planning
--US & UK
-Vanderbilt University: Owen Graduate
School of Management
-University of Arizona: Eller College of Management
-Georgia Institute of Technology: College of Management
-UC Berkeley: Haas School of Business
-University of Arizona: Eller College of Management
-CFA Institute
-American Institute of Certified Public Accountants
For further details refer the report on Careers in Accounting
and Finance.
 Education Abroad

Insurance
•Tilburg University

•Imperial College London: Tanaka Business School

•Georgia State University – Netherlands

For further details refer the report on Careers in Accounting

and Finance.
Who are the potential employers in India?
Accounting
and Finance Investment
•ICICI Banking
•HDFC •ABN Amro
•CitiBank •Deutsche Bank
•Lehman Brothers •JP Morgan
•Reliance •Warburg Dillon Read
•HSBC •DSP Merrill Lynch
•Standard Chartered •HSBC
•Chase Manhattan Bank
•AMBIT
•Pricewaterhouse
Coopers
Who are the potential employers in India?

Insurance
•LIC
Retail Banking
•GIC
•Standard Chartered
•Tata-AIG
•Citibank
•ICICI
•ABN AMRO
•Citibank
•ICICI Bank
Commercial Banking •HSBC
•HDFC Bank
•Citibank
•UTI Bank
•ICICI
•Bank Of Baroda
•State Bank

•Bank of India
Tracing the Career path

Career path in Accounting

Accountants are involved in accounting procedures
and financial planning, in integrating the knowledge of
accounts and finance, as well as in computer
software development with other professionals for
information processing
Tracing the Career path

Career path in Retail Banking

Retail Bankers are involved in customer
interaction, front line sales, channel sales,
development of asset / liabilities / card products,
marketing of products or handling non-delivery
channels for Banking products (like ATMs,
Internet etc)
Tracing the Career path

Career path in Insurance

A career in Insurance involves large asset management
operations and selling mutual funds and other investment
products.
Tracing the Career path
Career path in Financial Planning
Financial Planner offers extensive wealth-creation
advice and assistance across all financial markets
or specialise in areas.
The average salaries for Finance professionals
Emerging areas in the Accounting and Finance sector are-

•Financial Outsourcing –Knowledge Process

Outsourcing
•Business Process Management
•Knowledge Process Management
•Stock Exchange
•Warehouse Management
•Investment banking
•Commercial banking
•Retail banking
•Financial Planning
CA or MBA?

An analysis of the recent batch profiles

in the top B-schools in the country
shows that after engineers, commerce
graduates form the second largest
chunk of students in MBA programmes.

Possible Career Progression after Qualification

SWOT Analysis for an MBA and a CA
Ms. Kalpana Morparia
Deputy Managing Director, ICICI

Education-
•Graduated in Science, Mumbai
•Post-Graduate in law from University of Mumbai

Awards & Achievements

•Women Achievers Award in the Field of Finance
and Banking 1999'. the Indian Merchants' Chamber
(Ladies Wing)
•Economic Times Award for Corporate Excellence
2005 as the Businesswomen of the Year
Arun Kumar Purwar
Chairman, State Bank of India
Education:
Masters degree in Commerce from
Allahabad University

Award:
2005: CEO of the year award, for Brand
Excellence (India Brand Summit – 2005)

Under his chairmanship

•The State Bank of India (SBI) Group, became a
member of the $1 billion club.,
•SBI’s net profit increased by 19 percent to Rs
3,681 crore during 2003-04.  
Aditya Puri
MD, HDFC Bank

Education:
•Chartered Accountancy from the Institute of
Chartered Accountants, India. Puri is an
associate member of the Institute of Chartered
Accountants of India.
•Articles with Thakur Vaidyanath Iyer, Delhi.
•Bachelor's degree in commerce from
Chandigarh, Punjab University.
•Schooling in Poona.
 Summary

As the speculation of industry professionals

go, it’s definitely going to be an upswing for
the finance sector. At present, the finance
sector is getting transformed into a
technology-intensive and customer-friendly
model with a focus on convenience. The role
of an integrated financial infrastructure is to
stimulate and sustain economic growth.
Finance will have a significant contribution
in propelling India forward as a global
economic power.
 For further details on Accounting and Finance, refer to
Report on ‘Careers in Accounting and Finance’

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