With an increasing focus on the national and global economy, financial studies have acquired significance among students. Finance is central to all businesses alike. A course in ‘Financial Management’ serves the right pathway to understand this key factor.
There are several institutes across India offering a course in Financial Management. The National Institute of Financial Management, Haryana; Banaras Hindu University (BHU), Varanasi; CHRIST University, Bangalore; Goa University; and Dr CV Raman University, Chhattisgarh are some of the institutions that offer degree as well as diploma courses in Financial Management.
Being a multidisciplinary field this course equips students with better analytical, organisational and governance skills. Engineers form an enormous chunk of the students who opt for a course in Financial Management. One of the key reasons behind this is the rising trend of FinTech opportunities.
“Finance is no longer limited to banking and accounting. With an amalgamation of technology, finance has become a part of information technology (IT), computer science as well as application-based solutions,” says Narain, assistant professor, Faculty of Management Studies, Delhi University.
The institute offers MBA, Management Development (MGD) as well as Executive MBA programmes – all of which focuses on ‘Financial Management’ as a core course.
To rise up the career ladder, every individual should possess enough financial understanding, says Kalpakam Gopalakrishnan, associate professor, KJ Somaiya Institute of Management Studies & Research, Mumbai, while talking to Education Times.
The Mumbai-based institution offers a part-time Masters in Financial Management for working professionals. The programme is of a duration of three years as opposed to the traditional two years.
During the first semester students are taught the basics of management such as human resources, marketing, general accounting, to name a few. “With the commencement of the second semester, students get a detailed view of financial management,” says Gopalakrishnan. The course includes topics of study such as Management Accounting, Corporate Governance, Operations Management, FinTech, Derivatives, Security Analysis, Portfolio Management, Management of Banks, and International Finances, among more.
Students can get varied job prospects in banks, bonds market, stock market, etc. They can also become financial advisors, insurance advisors, and financial analysts, among more.
Challenges to meet
Narain points out that there is a dearth of teachers or professors in the field of financial studies who are updated with the latest industry trends. On the other hand, Gopalakrishnan highlights that lack of industry exposure in the curriculum eradicates any possibility of adding a practical flavour. “More industry players must be roped in to share their insights with the students ,” she adds.