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Corporate Finance Career

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Who This Career is For?
People in the field of corporate finance must have very sharp analytical skills and they must be able to pay meticulous attention to detail. Moreover, one must have the ability to work with numbers quickly and intelligently. Problem solving is an essential part of this job, so people who enjoy tackling challenging issues on a daily basis would fit in perfectly in a career of corporate finance.

This career is only for people who have the ability to work with large teams, and those who know when to lead and when to follow. They must be able to gauge the strengths and weaknesses of their fellow team members, and communicate well with them both verbally and digitally. Moreover, this job entails a lot of interdepartmental interaction and so it is essential for people who opt for this career path to be excellent negotiators.
Want to know more about it?
The primary purpose of people involved in corporate finance is to determine where a particular business will obtain funds from, and then cooperating with other departments within the business to determine how these funds should be used to ensure maximum return in terms of revenue.

Most medium and large sized corporations have very vital corporate finance departments that are the primary employers for people in this field. Moreover, insurance companies also hire large numbers of corporate finance officials because they deal have large revenues and must work out ways to increase their profits.

People who get involved in corporate finance careers can opt to also be involved in accounting processes within the company. Those who do remain involved in bookkeeping or accounting tend to receive higher salaries and have higher chances to get promoted to higher levels within the company.

The work a person working in corporate finance does depends largely on the structure of the department. This normally varies on a case to case basis. Some corporate finance officials have merely advisory roles, whereas others have more interactive roles where they work alongside management and administration to actually implement the policies they find most suitable for the future of the firm.

Corporate finance officials must have a bachelor’s degree in finance. Moreover, people who qualify to become chartered accountants may also practice corporate finance. Candidates who have an MBA are preferred these days, and are much more likely to get promoted. Individuals who have internship experience or any exposure to finance in the past also have a distinct advantage to others for entry level corporate finance jobs.
What are Salary Prospects?
People who work in corporate finance are generally renowned to be highly paid. While this is true, the amount of compensation they receive depends on the size and level of intricacies of the business they work for, the responsibilities they are assigned, their qualifications as well as their level of experience working in the field.

While it remains difficult to pin out a particular salary, in the United States of America, people involved in corporate finance can earn anywhere between US$ 70,000 per annum and US$ 300,000 per annum depending on the above listed factors. In India, corporate finance officials can earn up to Rs. 100,000 per month.

Additionally, it cannot be ruled out that people in corporate finance are very likely to receive benefits ranging from pensions to sick leave, as well as credit for transportation and housing.
How is Life?
Life as a corporate finance official involves sitting in an office environment, either in front of a computer or sifting through paperwork for long periods of time. While the job is meant to be done during office hours, people in this profession find themselves working overtime on a regular basis.

Corporate finance is a rather monotonous field to work in, but it is not without due stress. Mistakes can have adverse consequences, and generally even small mistakes can cost professionals their jobs because of the important nature of the work they do.
What Perks come along with this career?
From the many perks associated with corporate finance, the most attractive is the ongoing potential for promotions. This high level of occupational mobility encourages many people, as it allows them access to very lucrative positions in the company.

Satisfied employers also give out bonuses to their corporate finance departments, so if you are qualified enough, this is a definite perk you can get from this profession. Moreover, corporate finance officials are highly respected by members of other departments within the organization because of their immense importance to the well being of the organization.
Which Downsides are there in this career?
However, there are a number of factors that keep many people away from working in corporate finance. First of all, the job can become very monotonous, and most people do not enjoy spending all day in a closed office environment in front of a huge stack of papers or in front of the computer.

Additionally, less experienced individuals do not have much job security within this field and the slightest blunder can cost them their job. As a result, one needs to be constantly on top of their game to avoid such a fate.
How is Competition?
In terms of job outlook, the prospects in this field are looking good. The demand for corporate finance officials is increasing more and more. Businesses these days are looking for young, talented, open minded fresh graduates who can make key business decisions for them in the future.

As tough economic times have caused firms to implement exciting new strategies to ensure that they remain viable and competitive, people who are involved corporate finance remain key cogs in their organizations, and HR departments of businesses are quick to realize this.

Despite the positive job outlook, the level of competition will remain high because of a large number of new entrants in the field. These prospective corporate finance officials ensure that only the most competent applicants find themselves with lucrative jobs.
Locations where this career is good?
Like most corporate jobs, the highest number of job opportunities lie in metropolitan cities where the commercial base is very strong. In United States, New York City, Los Angeles, Chicago and Boston are believed to be the best place to work in the field of corporate finance. Similarly in India, the most opportunities in the discipline of corporate finance are to be found in the financial capital of the country, Mumbai.

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