-Dr Daviender Narang Director Jaipuria Institute of Management
Management education helps an individual to gain knowledge as well as an appropriate amount of exposure which is required today in the corporate world. Management education paves the way for a successful career. While pursuing MBA, as per the university curriculum, an individual can gain knowledge about various subjects during the first year, comprising of two semesters. During the second year, in the third semester, student opts for a major domain along with a minor domain giving them expertise in a complete domain which can be Finance, Human Resource Management, Marketing, Operations, International Business, Information Technology, and a few more. A student who chooses to be an expert in Finance and Human resources further has multiple career opportunities to be explored in order to get a sustainable career. Following are the opportunities to be navigated in Finance and HR.
Career opportunities in Finance:
The Indian economy faces a lot of concerns including the concern of financial crisis, the country needs efficient managers to deal with the same. All the organizations require skilled financial analysts with a professional degree. This course has become one of the most sought courses giving an opportunity to build a career in the following areas,
Being an investment banker
Investment Banking is an area aiding the organizations in acquiring funds for business. Managingassets, doing financial leverage, analysing the market, and offering advice on the same about FPO and IPO are among the core facets of investment banking. Investment banking requires skilled students with strong numerical and analytical skills, they also require skills of leadership and teamwork along with coping with the stressful conditions that might arise during work. Top companies including, Goldman Sachs, Morgan Stanley, Boston Consulting Group, Bain & Company, JP Morgan Chase & Co, McKinsey & Co., Barclays, KPMG, State Bank of India, HDFC, Yes Bank, and many more hire investment bankers. Management graduates in finance do have a booming career in this field.
Career opportunities in risk management
The market is extremely dynamic, the companies are now looking forward to hire risk managers in a great volume who can assess and quantify the business risks including liquidity, operational, credit risk and, capital risk. Risk managers help in reducing the risk. The professionals need to be very vigilant of the market with a high emotional and intellectual intellect. They also need to present the assessed risk in a very clear and concise form thus they must also possess communication and articulation. Multiple organizations are looking for risk managers thus giving them a huge arena.
Career opportunities in HR:
In this massive era of digitalization where everything is operated by software, the need fora human interface still cannot be undermined. Human Resourcemanagement acts as the lifeblood of every organization. This function helps the organizations to get the most important asset of an organization which is the talent. People who handle the organization and drive the organization towards growth. Students pursuing management courses with HR as one of the specializations have a good scope to enter into the following career paths,
Training and Development
Up-skilling and Re-skilling is the requirement of the current era, the Human Resource Managers require to design and cater to the needs of the employees working in the organizations. The students who have the ability to understand the market paradigm will be required for this. Human Resource Managers who can understand the skills that the professionals working in the organization require will be able to design the relevant modules for them, thus these people are very important for the organization.
Employee relationship managers
Human resource management graduates can also have a career as employee relationship managers, these professionals are responsible for managing as well as maintaining the relationships among the employees, these individuals also maintain the organizational energy and enhance the work culture in the organizations. Employee relationship managers also aid in the process of adopting and controlling the methods regulating employee relationships further leading to employee retention. Multiple giants are looking for Employee relationship managers, thus this also holds a huge scope.
Picture Courtesy: Great Learning
Also Read: 5 well paid careers after your MBA