How to become a Financial Manager?

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Because an organization’s finances are meant to be its lifeline, the Financial Manager, also known as Financial Analyst or Business Analyst, is regarded as the most crucial professional in its management. After the onset of globalization.

And opening up of the world markets during the last couple of decades, business administration has gained a reputation as one of the most glorious and highly paid professions of the twenty-first century, with a wide range of specialized fields such as finance, production, human resources, and marketing to name a few.

Business administration offers many chances to today’s youth, and finance is regarded as the industry’s backbone, making the work of financial managers one of the hardest and lucrative.

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It’s a job that necessitates a high level of expertise. Previously, a job in financial management was thought to be a male-dominated industry, but as time has passed, it has grown more woman-friendly, and more women are entering this field.

Financial Managers that are well-trained, skilled, and highly talented are now necessary for an organization’s/growth company to compete in global marketplaces.

To do this, financial managers must have a thorough understanding of the necessary budgetary needs for all parts of business administration, including manufacturing costs, placements, and marketing requirements, among other things.

A financial manager requires specialized knowledge and practical training to perform his duties in the most result-oriented manner, which he can obtain by enrolling in one or more 2- to 3-year courses.

financial manager, Financial Analyst

So, to become an effective financial manager, one must follow the steps outlined below.

Financial manager eligibility 

A master’s degree in financial management, such as an MBA, is required to work as a financial manager (Finance).

The following courses are specifically designed for Financial Management:

  1. Master of business administration (Finance)
  2. Master of financial controls (MFC)
  3. Postgraduate diploma in financial management (PHDFM)

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Eligibility condition for joining a master degree 

Graduation from any subject is required for admission to these programmes. The master’s programme will last two years, while the PG Diploma programmes will last one year. In general, admission to these programmes will be based on an aptitude test, a group discussion, and an interview.

Depending on the institute, the selection process may differ. Most institutes enrol students based on their performance in exams such as the IIMs’ CAT, the All India Management Association’s MAT, and the Xavier Institute’s XAT, among others.

Some institutes, however, administer their own exams for these courses. Finance is often offered as a speciality to the major course at many management colleges. The concentration will be available in the second year of the MBA programme.

financial manager, Finance career options

Financial managers required skills 

  • High numeracy and competent technical abilities; problem-solving skills and initiative; great attention to detail and an investigative nature are all required of a financial manager.
  • They should be able to balance job demands with academic obligations; have solid time management skills and the capacity to prioritize; they should be able to function as part of a team and form great working connections.
  • These managers should be able to make quick, reasoned decisions; they should have the ability to lead and motivate people, and they should have solid IT abilities.

How to become a financial manager?

Here are the two steps:

Step 1

To succeed as a financial manager, one must first have the necessary education. It could be a Master’s degree in Management or a Diploma programme like the ones listed above.

Step 2

If you have the requisite qualifications, you can apply for a job as a Financial Manager whenever one becomes available.

Financial manager job description 

Financial Managers are highly skilled experts who are needed to manage this element of the organization. These specialists are in charge of overseeing the financial operations of the organization in which they work. As a result, they are expected to be well-versed in the company’s budgeting.

By: Sananda Kumari

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