Finance and Engineering Career Options

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Decisions are indispensable in every aspect of our life, but those which have the long term effect are the ones which are primarily connected with the careers. Finding a satisfactory employment in current times is definitely a challenge and is most vital concern for every aspiring candidate for success and prosperity, write Er Faizaan Bhat and Mohammad Younus Budoo

From basic jobs to super specialized, it demands a consistent evaluation of set of skills which are necessitated to perform those activities to realize financial gains. From employment point of view, jobs can range between ordinary to lucrative in both ‘Government and Private’ sectors. With one chance to live, it is inevitable to envision the highest levels of self actualization and that is possible merely through adapting the path of great satisfaction. Employers expect perfection which is exhibited by performance that reflects precision. Selection of a particular field of knowledge is definitely influenced by numerous factors like parental interference, family and friends etc, but it is essential to consider the consequences of those decisions as well.

Our approach of considering a degree program is very conventional and it is mostly carried out by following someone else. The basic criteria for the selection of a degree program shall be to determine the job profile it leads towards, followed by the career growth and finally the earning potential it can offer.

Both Engineering and Finance are important fields in the business world and also in the economy as a whole. Engineering is directly related with the application of scientific concepts and principles in designing of modern technologies that facilitate the convenient life style for human population whereas the finance is the most important function in the business organizations and is associated with the obtaining of funds, application and management of those funds and effective distribution of the earnings.

We are discussing the career opportunities in engineering and finance because of the employment potential in these specialized fields of skill.

Engineering

Engineering is one of the classic career selection witnessed from a long time but the concentration on various areas is changing rapidly.

Computer Science engineering is increasingly becoming one of the top choices amongst the candidates because of the employment opportunities it provides both in mainland India and abroad. The earning potential for the computer science graduates can be very high and the best job destinations include USA, Europe, and India. The main decision in regard of engineering degrees is the reputation of college and the better college provides not only the proper environment for study but also gives the platform for attracting the top companies of the world with numerous job opportunities.

In case of engineering, Indian Institute of Technology is the best brand followed by the National Institute of Technology (NIT) and some other top Government and Private Institutions. We have very less number of representations in the top engineering colleges from Kashmir valley. The top examination in the field of engineering are:-

  • For 12th pass candidates (JEE) is the main entrance examination to seek selections in the prestigious engineering colleges of India like IITs, NITs, etc.
  • For BTech graduates (GATE) is the examination for the selection into Masters Degree Programmes and Doctoral Programs in engineering in top colleges like IITs, NITs, etc and is also helpful in selection in Public Sector Undertakings.
  • For BTech graduates (Indian Engineering Service) and (Indian Telecommunication Service) are the examinations for selection in top services in the Government Sector.
  • For BTech graduates, (Graduate Record Examination) is the international examination for selection into Masters Degree Programmes and Doctoral Programmes in top universities in the world.
  • For BTech graduates, (DRDO SET) is the examination for selection as junior scientist in DRDO.
  • For BTech graduates, (BARC SET) is the examination for selection as junior scientist in BARC.
  • For BTech graduates, (TIFR Exam) is the examination for selection as junior scientist in TIFR.
  • There is huge employment potential for engineering graduates in the finance sector particularly in Investment Banking where they get different roles like analysts etc.
  • MBA after BTech is recognized as the best combination for top management careers in the corporate sector.

Finance

From glamorous investment banking to stringent auditing, finance is everywhere in the business and economy. Be it one of the largest or the most essential function, world relies on this field significantly.

This field is most important because it manages the monetary resources which are used in exchanging almost everything in an economy or in a particular business concern.

This sector is divided into several other top specialized activities like investment banking, commercial banking, accounting, auditing, financial management, risk management, compliance etc.

The top career options in this field are:-

  • (Qualified Financial Accountants) are the members of the professional bodies of accounting like American Institute of Certified Public Accountants, Institute of Chartered Accountants of India etc. They generally possess license to conduct audit of the financial affairs of the company. They are employed in corporate sector as top level accountants, financial managers, C.F.O etc and also in the audit firms. The qualified financial accountants have one of the highest earning potential in the industry.
  • (Qualified Management Accountants) are either the members of the professional bodies like Chartered Institute of Management Accountants, U.K, and Institute of Cost Accountants of India etc or possess the certificate of management accounting like in case of Certified Management Accountants (USA). The Qualified Management Accountants are primarily employed in Industry as Financial Managers, Management Accountants, Financial Controllers, and C.F.O etc. They also have very high earning potential in the industry.
  • (Certified Internal Auditors) are the certificate holders from the Institute of Internal Auditors, USA and are regarded as the best experts of Internal Auditing in the world. They are primarily appointed in the internal audit function in the industry and also get great job opportunities in risk management and allied fields. Internal Auditors also have very high earning potential in the finance field.
  • ( Chartered Financial Analysts) are the Charter Holders from the Chartered Financial Analysts Institute, USA and are having the best reputation in the investment banking , portfolio management, mergers and acquisitions, private equity, etc. They have diversified job opportunities from corporate finance area to investment management. There earning potential can be really high and they also get huge bonuses.
  • (MBA- Finance) are the degree holders and are primarily expected to be from the top most business schools in the world. They work across the finance sector and have a number of opportunities available. While investment banking is the preferred destination but other areas like private equity, financial analysis, financial management, corporate finance are also highly considered. Depending on the reputation of business school, MBA-Finance graduates can get the best and highest paying jobs available in the industry.

We hope that our effort is received with enthusiasm and sincerity and results in making career selection simple and easy.

About the Authors:

Faizaan Bhat is pursuing Chemical Engineering from NIT, Srinagar and can be contacted at bhatfaizan10@gmail.com.

Corporate Governance Professional, Mohammad Younus Budoo is BCom (Gold Medallist) from University of Kashmir and can be contacted at yunus.nasir11@gmail.com.

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