career options in commerce
TRANSCRIPT
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Career in commerce
Vimal solanki Created By
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Why Commerce?• Contrary to the perception, careers in
commerce provide a high earning and a respectable job.
• Students interested in numbers and the financial aspect of life should choose commerce.
• For most part of studies, commerce requires common sense and logic instead of ‘rote learning’36
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WHAT AFTER 10+2 COMMERCE ? Chartered Accountancy(CA) Company Secretary(CS) Cost Management Accountant (CMA) Chartered and Financial Activist (CFA) Actuarial Science Master of Business Administration(MBA) Banking Insurance Finance
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Career in Chartered Accountancy(CA)
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Chartered Accountancy
Accounting, auditing and taxation are the core areas dealt with by chartered accountants.
They are also capable of expert level services in the areas of General Management, Personnel Management, Financial Management, Operations Management, HR Management
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STAGESStages in CA
CommonProficiency
TestIntegrated Professional
Competence Course (IPCC)
Final
4 subjects-2 papers 9 subjects
4 papers- group I3 papers- group II
Article ship + ITT
ApprenticeshipUnder a practicing
CA for 3 years+
100 hours of IT training
8 subjects4 papers- group I4 papers- group II
GeneralManagement
Course
CompulsoryGMC courseDuring/ after
Finals
• Academic Qualification 10+2 or equivalent as recognized by ICAI
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Common Proficiency Test (CPT)
• Pass Marks- To pass/qualify at the examination a student has to obtain a minimum of 50% marks in all the papers together.
• Re attempting- Failing to get the pass mark requires the student to reappear in all the papers again.
• No Exemptions- There are no provisions for exemptions, even in conditions where the student has obtained high marks.
CPT duration is minimum 2 months. Each session is of 2 hours.
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Subjects
Session IISession I
Mercantile Laws(40 Marks)
FundamentalsOf Accounting
(60 Marks)
QuantitativeAptitude
(50 Marks)
GeneralEconomics(50 Marks)
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Integrated Professional Competence Course (IPCC)
• Pass Marks- Minimum of 40% in each paper and an aggregate of 50% in all the papers of both the groups together if attempting both the groups or all the papers of a single group, A student has to get through both the groups either at once or separately to be eligible to go for the next level i.e. Final.
• Exemptions- In cases where the student has obtained 60% and above in one or more papers that paper will be exempted although he was failed in that group.
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Subjects in IPCC
Group IIGroup I
Law, Ethics and
Communication
AdvancedAccounting(100 Marks)
IT and StrategicDevelopment
Auditing and Assurance
(100 Marks)
InformationTechnology(50 Marks)
StrategicManagement(50 Marks)
BusinessCommunications
(20 Marks)
Business Ethics(20 Marks)
Law(60 marks)
Cost AccountingAnd FinancialManagement
Cost Accounting(50 Marks)
FinancialManagement(50 Marks)
TaxationVAT
(25 Marks)Service Tax(25 Marks)
Income Tax(50 Marks)
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Final• Pass Marks- Minimum of 40% in each paper
and an aggregate of 50% in all the papers of both the groups together if attempting both the groups or all the papers of a single group, A student has to get through both the groups either at once or separately to be eligible to go for the next level i.e. Final.
• Exemptions- Exemptions- In cases where the student has obtained 60% and above in one or more papers that paper will be exempted although he was failed in that group.
• Minimum duration of Finals in 3 years.
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Subjects in Finals
Group I Group II
Corporate &Allied Laws
Company Law
(70 Marks)
StrategicFinancial
Management(100 Marks)
FinancialReporting
(100 Marks)
Allied Laws(30 Marks)
AdvancedAuditing andProfessional
Ethics(100 Marks)
AdvancedManagementAccounting(100 Marks)
InformationSystemsControl &
Audit(100 Marks)
Direct TaxLaws
(100 Marks)
IndirectTax
Laws
CentralExcise
(40 Marks)
Service TaxAnd VAT
(40 Marks)
Customs(20 Marks)
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• The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. • ICAI now is the second largest accounting body in the whole world • The institute has its headquarters in New Delhi. Continue……
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1. Five regional offices at • Mumbai, • Chennai, • Calcutta, • Kanpur and • New Delhi
with branch offices located in almost all major cities and towns of India.
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Jobs options After CA•Audit and Taxation•Project Finance/ Financial Advisory/ Mergers & Acquisitions• Investment Banking•Banking and Financial Services•Outsourcing•Academics•Corporate Sector•Recession
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Carrere In Company Secretary (CS)
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Company Secretary • A CS is a person who is:- 1. An expert in corporate laws, securities laws
& capital market and corporate governance. 2. Chief advisor to the board of directors on
best practices in Corporate Governance. 3. Responsible for all regulatory compliances of
company. 4. Corporate planner and strategic manager.
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FoundationSubjects
Elements ofBusiness Laws
And Management
EconomicsAnd
Statistics
FinancialAccounting(100 Marks)
BusinessCommunication
(50 Marks)English
(50 Marks)Statistics
(50 Marks)Economics(50 Marks)
Elements ofBusiness
Laws(50 Marks)
Elements ofManagement(50 Marks)
English andBusiness
Communication
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Stages in CS
Foundation Executive Professional
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FOUNDATION• Eligibility:-• 10+2 or equivalent• Provisional admission is allowed to a candidate who has
appeared or enrolled for appearing in Senior Secondary (10+2 or equivalent) examination , provided proof of passing the examination is produced within 6 months of making the application.
• Admission- Making an application in the prescribed Form FC-1 together with documentary evidence in support of date of birth and educational qualification.
• Duration- 8 months, excluding the months of admission and the examination.
# Students are required to pass the Foundation examination within 3 years from the date of their admission
• Exemption:- • Pass in the Final examination of the ICWAI or ICAI or any
other Accountancy Institution in India or abroad recognized by the Council.
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FoundationSubjects
Elements ofBusiness Laws
And Management
EconomicsAnd
Statistics
FinancialAccounting(100 Marks)
BusinessCommunication
(50 Marks)English
(50 Marks)Statistics
(50 Marks)Economics(50 Marks)
Elements ofBusiness
Laws(50 Marks)
Elements ofManagement(50 Marks)
English andBusiness
Communication
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Executive Programme
Registration Period:- Five years from the month in which his
application, complete in all respects, is accepted for registration.
A registered student is required to complete the Executive and the Professional examination within the registration period
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Subjects
Module IIModule I
General & Commercial Laws
Company Accounts and Cost & Management Accounting
Tax Laws
Company Law
Economic And Labour Laws
Securities Laws and Compliances
*All papers are of 100 marks*
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Professional Programme Eligibility- Passing the Executive Programme
examination.
Subjects
Module IVModule II Module IIIModule I
Drafting, Appearances
&Pleadings
Company Secretarial
Practice
RestructuringAnd
Insolvency
Financial, Treasury
&Forex
Management
Advanced Tax Laws and
PracticeModule
Strategic Management,Alliances andInternational
Trade
Due Diligence
&Corporate
Compliance Management
Governance, Business
EthicsAnd
Sustainability
*All papers are of 100 marks*
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Future Prospects Employment : Companies with a paid up share capital of Rs.5 crores
or more are compulsorily required to appoint a whole time Company Secretary who is a Member of ICSI
All companies seeking listing on Stock Exchange are required to appoint a whole time company secretary
Membership of the Institute is recognized for appointment to superior posts and services under Central Government.
Self-Employment After obtaining a ‘Certificate of Practice’ from the
Institute, members of the Institute can go in for Independent Practice.
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• The Institute of Company Secretaries of India is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.
• Vision- To be a global leader in promoting Good Corporate Governance
•Mission- To develop the high caliber professionals facilitating good Corporate Governance
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Role of CS• The Company Secretary is:• An in-house legal expert; a compliance officer of the Company.• An expert in corporate laws, securities laws & capital market and corporate governance• Chief advisor to the board of directors on best practices in corporate governance• Responsible for all regulatory compliances of company• Corporate planner and strategic manager
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CAREER AS A COMPANY SECRETARY•Corporate Governance and Secretarial Services•Corporate Laws Advisory and Representation Services• Financial Market Services•Management Services•CS in Company •Private Practice
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Carrier In Cost Management Accountant
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Cost and Management Accountatnt • A cost accountant ensure that managerial decisions are
well within the cost prescriptions. He is expected to give a prognosis for projects to be undertaken based on past and present financial performances
• Eligibility- 10+2
• Duration- 6 years
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Stages in CMA
Foundation Intermediate Final
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Pass percentage- Minimum of 40% in each paper and an aggregate of 50% in all the papers together.
Foundation Subjects
FinancialAccounting
Fundamentals(100 Marks)
Management(70 Marks)
Organisation(30 Marks)
Organisation &ManagementFundamentals
Economics &Business
Fundamentals
Economics(50 Marks)
BusinessFundamentals
(50 Marks)
Basic Mathematics& Statistics
Fundamentals
Arithmetic(15 Marks)
Mensuration(30 Marks)
Algebra(25 Marks)
ElementaryStatistics
(30 Marks)
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Intermediate Subjects
Applied DirectTaxation
(100 Marks)
Financial Accounting(100 Marks)
Commercial &Industrial Laws
& Auditing
Commercial &Industrial Law
(50 Marks)
Auditing(50 Marks)
Cost & ManagementAccounting(100 Marks)
AppliedIndirectTaxes
(100 Marks)
OperationManagement(50 Marks)
OperationManagement& Information
Systems
InformationSystems
(50 Marks)
Group IIGroup I
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Final Subjects
Strategic TaxManagement(100 Marks)
AdvancedFinancial
ManagementAnd
International Finance
(100 Marks)
Operations &Project
ManagementAnd Control
OperationsManagement(50 Marks)
ManagementAccounting-
DecisionMaking
(100 Marks)
ManagementAccounting-
FinancialStrategy &Reporting
(100 Marks)
Cost Audit(50 Marks)
Cost andManagement
Audit
ManagementAudit
(50 Marks)
Group IVGroup III
ProjectManagement(50 Marks)
StrategicManagement
And Marketing(100 Marks)
ValuationManagement &
Case Study
ValuationsAnd
Management(70 Marks)
Case Study(30 Marks)
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• The ICWAI came into being by "The Cost and Management Accountants Act" a special act passed by the parliament in 1959 on 28th May 1959
• It specializes in the field of Cost and Management Accountancy.
• Objective- Promoting, regulating and developing the profession of Cost Accountancy.
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Career Prospects Own practice
Auditing
Maintenance of cost records
Employment in private sector as managers, internal auditor, etc.
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Carrier In Chartered and Financial Anyalist (CFA)
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Types Of CFA
US
Types Of CFA
INDIAN
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What Is CFA• The Chartered Financial Analyst (CFA) Program is a professional credential offered by the CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.[ A candidate who successfully completes the program and meets other professional requirements is awarded the "CFA charter" and becomes a "CFA charterholder".
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Requirements•Have four years (48 months) of qualified work experience (or a combination of education and work experience acceptable by the CFA Institute). However, an individual have to clear written level exams prior to satisfying this requirement;• Complete the CFA Program (mastery of the current CFA curriculum and passing three six-hour examinations);• Become a member of the CFA Institute and apply for membership to a local CFA member society;• Adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.
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Stages
Level I
Level II
Level III
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SubjectsIn Level I
Chapter 6-10Chapter 1-5
Quantitative Methods
Ethics and Standards
Microeconomics and Macroeconomics
Financial Statements
Financial Ratios Assets
And Liabilities
Global Economic Analysis Red Flags
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SubjectsIn Level II
Chapter 16-17Chapter 10-15
Securities Markets
Fixed Income Investments
Equity InvestmentsAlternative Investments Portfolio
Management
Derivatives
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Subjects in Level III
Ethical and Professional Standards
Equity Fixed Income Derivatives Alternative
sPortfolio
Management
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Mission • To lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.• The Institute Of Chartered Financial Annalist for Established under a act of parliament (Under (Act No. 56 of 1980)
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Job Opportunities After CFA• Portfolio Manager• Research Analyst• Chief Executive• Consultant• Corporate Financial Analyst• Financial Advisor• Relationship Managers, Sales, & Marketing• Risk Manager• Investment Banking Analyst• Manager of Managers• Accountant/Auditor• Strategist• Performance Measurement Specialist• Private Banker
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Carrier in Actuarial Science
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Actuarial Science An actuary is an expert in assessing the financial impacts of tomorrow’s uncertain
events. They enable more informed decisions.
Eligibility :-1. Should have completed 18 years of age
2. Should have attained anyone of the following Educational Standards- Passed 10+2 or equivalent with at least 85% in Mathematics / Statistics Graduate or Post Graduate in Mathematics/Stats/Econometrics Any Engineer / CA / CS / MBA (Finance) / MCA Fully qualified members of following Professional bodies such as :- The Institute Of Chartered Accountants of India (ICAI) The Institute of Cost and Works Accountant of India (ICWAI) The Institute of Financial Analyst of India (IFAI) The Insurance Institute of India (III) passing with subjects 81- mathematical Basis
of Insurance and 82- Statistics.
3. An application should be recommended by a member of professional body like such as ICAI, ICWAI and ICSI.
Salary- Rs.6-30 Lacs per annum
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Core Technical Stage- 8 compulsory papers (CT1-CT8) with one paper of 100 marks
Core Application Stage- 2 compulsory subjects (CA 1 to CA3), CA1 consists of two papers whereas CA2 and CA3 shall have one paper each.
Specialist Technical Stage- 6 papers (ST1 to ST6) and the students have to choose any two.
Specialist Application Stage- 6 papers (SA1 to SA6) and the student has to clear any one.
Specialist ApplicationStage
Stages Of Examination
Core ApplicationStage
Specialist TechnicalStage
Core Technical Stage
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Future Prospects:1.Insurance companies [be it private or public-
life or general]2.Firm of Consulting Actuaries3.Authorities like IRDA, PFRDA & TAC.4.Asset liability Management Companies5.Large banks and Investment Firms like World
Bank, ADB, etc6.Pension Banks and Employee Benefit
Companies- likely to be opened in India soon.7.Large Capital & Turnkey Project Handling
Companies8.Software Development Companies9.Actuarial BPO Companies
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1. In addition to the above, employment opportunities are expected to arise in future in the offices of:
2. Insurance Intermediaries
3. Pension Providers other than insurance companies.
4. Education Institution (Providing Courses on Finance & Actuarial Science)
5. Re-insurances
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• Institute of Actuaries of India (IAI) is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India.
• It is a member of the umbrella body of International Actuarial Association
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Objectives1.Advancement of the Actuarial profession
in India.
2.Providing opportunities for interaction among members of the profession.
3.Facilitating research, arranging lectures on relevant subjects.
4.Providing facilities and guidance to those studying for the Actuarial exams.
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Carriers In Master Of Business Administration
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Entrance Exams• AIMA-MAT• CAT• XAT•MAT•GMAT• IIFT•NMAT• SNAP
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Subjects In MBA•MARKETING• INTERNATIONAL FINANCE• INTENATIONAL BUSINESS• ENTREPRENEURSHIP• FINANCE
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What Is Master Of Business Administration • The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration (management)
• The MBA degree originated in the United States in the late 19th century when the country industrialized and companies sought scientific approaches to management.
• The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations management in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
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Why Get an MBA Degree??The main reason to attend school is to increase Knowledge and advance career for betterment.
In most cases, an MBA degree is required for executive and senior management positions
People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them.
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Branches in MBAFinance
Marketing
Entrepreneurship
Accounting
Management
Real Estate
Nonprofit Continue.......
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Branches in MBAHealth Care
Human Services Management
Sports Management
Economics
Organizational Management
Information Technology .
Retail Continue......
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Branches in MBAAirport Management .
Management .
Information's Technology .
Entrepreneurship
Logistics & supply chain management .
Risk Management .
Tourism Continue......
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Branches in MBAOperations Management Fashion TechnologyForeign TradeInternational BusinessEntrepreneurshipInformation ManagementMediaPharmaceuticalsShipping and Logistics Management
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Best Collages For MBA• Indian Institute of Management (IIM)• Indian Institute For Foreign Trade (IIFT)• International Institute Of Import And Export Management (IIIEM)• International Management Institute (IMI)• Narsee Monjee Institute of Management Studies(NMIMS)• Xavier Institute Of Management• Institute of International Trade• Banaras Hindu University (BHU)• Shri Collage Of Commerce • Symbiosis International University
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MBARun by Universities under AICTETraditional SyllabusTradition teaching pedagogyUniversity test score/MAT score onlyFocus on course onlyRed-tapism in the systemFMS, UPTU and other regular and deemed Universities are the players
PGDMRun by autonomous body under AICTEContemporary SyllabusModern teaching pedagogyCAT/MAT/XAT etc score & GDPIFocus on practical with courseDynamic approach in studyIndustrial interface more focusedCustomized course IIMs, XLRI, SP Jain, ISB, IMT, MDI, are the leaders And many others including Taksila Business School
MBA Vs PGDM
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Is an MBA worth the cost?
• “A degree has value only if the degree is scarce, and the MBA is completely unscarce”• “People don’t hear what they don’t want to hear,” Prof.Haney says, adding that he nonetheless believes that unless you go to an elite school – by which he means one ranked in the top 15 worldwide – an MBA is a complete waste of money.
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Job Options after MBA• CEO/CMD/COO• For-ex Manager• Business Analyst• Pre-Sales• ERP Consultant• Project Manager• HR Manager• Quality/Testing Manager• Management Analyst• IT Manager• Financial Manager
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Carrier In Banking
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Banking
Introduction Banks are institutions that take care of the
money of individuals and corporates. Banks pay interest on the deposited
money, provide loans to people for business or personal use.
They also offer a wide range of services like exchange of foreign currency, giving advise related to investment and insurance and acting as trustees.
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Types Of Banks
Commercial Banks
Co-operati
ve Banks
Special Banks
Central Bank (RBI)
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Nature of Work
There are various different levels at which a person can join the bank namely
Clerk Grade I officer Grade II officer Manager.
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Exams In Banking Sector
IBPS PO
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Positions In Banks• Financial Analyst• Bank Teller• Loan Officer• Financial Manager•General Manager• Additional General Manager•Managing Director• Clerk•Grade I officer•Grade II officer •Manager.
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Selection procedure for RBI
The Reserve Bank of India is the topmost financial institution in India which makes all the policies and regulations for the other banks. It conducts tests for three types of entry level positions:
Clerical grade Grade A officers Grade B officers The entry point for clerical staff is in the cash
department as examiners of coins and notes. They are promoted to the next grade when they successfully clear the relevant examinations after 5-10 years of service.
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Financial Planning: Skills and Talents
The financial planning sector is booming and offers a variety of career options.
This field deals with the largest markets of any kind in the world and call on the following skills:
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Carriers In Insurance
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Insurance-Introduction Presently in India, the insurance sector is open for
private as well as public Sector. Following Services are rendered these companies :
Life Insurance Corporation of India (LIC) provide for Life insurance.
General Insurance Coporation (GIC) through its 4 subsidiaries.
provides non life insurance like - Motor, Marine, Fire, Burglary, Health ,Personal Accident Insurance, Travel and Baggage Insurance etc.
Private Sector Insurance companies also provide insurance like life, health and other insurance.
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Public Sector UndertakingLife Insurance Corporation Of India New India Insurance Comp.ltdNational Insurance Comp.ltdUnited India Insurance Comp.ltd
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Private Sector Undertaking
Bajaj Allianz General
Insurance
HDFC ERGO General
InsuranceICICI
Lombard
Reliance General
Insurance
Kodak Mahindra OM Life
Insurance
Apollo Munich Health
Insurance
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Types Of Insurance
Life Insurance
Fire Insurance
Marine Insurance
General Insurance
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Carrier in Finance
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FINANCE1. Financial operations and services offer a variety
of opportunities to specialists in finance.
2. MBAs specializing in finance have a multi disciplinary approach and a strong conceptual base. .
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Postgraduates in finance control are trained in
1. Financial planning, 2. Decision-making and control, 3. Corporate finance, 4. Project finance and 5. Investment analysis.
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Specialized Areas of Study
1. Merchant banking,2. Equity analysis and research, 3. Portfolio management, 4. Issue management,5. Treasury management,6. International finance, 7. Retail banking .
are specialized areas of study for the financial wizard.
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Practically every firm needs Finance Managers Practically every firm - whether into manufacturing,
communications, finance, education, or health care - has one or more financial managers - treasurer, controller, credit manager, and others - who prepare the financial reports required, for tax and other regulatory demands.
Financial managers oversee the flow of cash and finances and develop information to access the present and future financial status of the firm. In small firms, accountants' duties usually include finance management.
However, in large firms, chief financial/accounts officers oversee all financial management departments.
In these instances, the accountants help top managers develop financial and economic policy and establish procedures, delegate authority, and oversee all financial management departments.
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Pay Packages
At the entry level, finance personnel can expect approximately Rs.12,000 - 15,000 p.m.
With five years of experience, finance personnel can expect Rs.15,000 - 20,000 p.m.
Senior finance personnel, with more than 10 years of experience earn approximately Rs.20,000 to Rs.30,000 p.m.
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Future Prospects1. The future prospects for finance
professionals are good in any bank or financial institution.
2. The growth and promotion opportunities are good in multinationals as well as the Indian banks (although the growth and learning opportunities in the multinational institutions are fourfold as compared to their Indian counterparts).
3. Summing up, the future is indeed bright for the finance professional.
Related areas of WorkDiversification is possible into Management
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Opportunity for Professionals Students
Hiring 10,000 hire and 30,000 fresh
recruits
Will hire10,000people
Looking to hire3,500in India in
3 yrs.
Will recruit 30,000 agents and 2,000 managers
Will hire30,000-35,000 Will hire 25,000Plan to hire
10,000
Will hire10,000with in
3Yrs
Is going to hire1,000 fresh hands
Hiring 25,000new hands
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PLACEMENTS after doing these courses
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Thank
you