In the latest Rediff series exploring non-traditional careers, Sandeep Goel, professor and dean-research at MDI, Gurgaon lists a range of high-growth finance careers beyond CA, CS, and MBA degrees.
- Part 1: The Top 5 Engineering Careers In India
- Part 2: 8 High-Growth Careers If You Love Sports
- Part 3: 4 AI Careers For Creative Professionals
Kindly note the image has been posted only for representational purposes. Photograph: Kind courtesy Vitaly Gariev/Pexels
Key Points: Must-Have Skills
- Investment banking analysts are in high demand for roles involving financial modelling, valuation, and mergers and acquisitions.
- Forensic accounting specialists help detect fraud, investigate financial discrepancies, and support legal proceedings.
- Green finance strategists work on renewable energy investments, green bonds, and sustainability-linked financial projects.
- Corporate governance officers ensure companies comply with regulations and follow ethical business practices.
- Modern finance careers increasingly require a mix of analytical ability, technical expertise, regulatory knowledge, and communication skills.
In India, for the longest time, the commerce stream used to be a safe choice among students.
With a specialisation in accounting and finance, a Bachelors in Commerce degree was considered a practical career choice leading to some sort of job security.
In the past, careers in accounting and Finance in India simply translated into pursuing either Chartered Accountancy (CA), Company Secretary (CS) or an MBA in finance. However, as companies are becoming increasingly global, data-centric, and regulatory-compliant in nature, the dynamics of this equation are changing.
Recruiters are looking for talent who can blend industry knowledge with technical skills.
There are three factors driving this dynamic change in career preferences:
- Regulations and reporting standards are becoming increasingly complex across industries.
- The realm of financial management involves data, IT, and risk assessment.
- Sustainability and corporate governance are rising in importance for companies.
Considering all of the above, employers are therefore no longer just interested in recruiting generalist professionals; they are interested in hiring individuals who possess specific skill sets certified in areas like Association of Chartered Certified Accountants (ACCA), Certified Management Accountant (US CMA), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), or forensic accounting and corporate governance.
It does not mean that traditional qualifications do not matter anymore, rather there are now other options as well for graduates from the field of finance.
1. Investment Banking Analyst
One of the most visible shifts is the rise of roles that combine finance with data and technology.
Investment banking analysts continue to be in demand, particularly in firms involved in mergers and acquisitions and capital raising.
The role involves financial modelling, valuation, and deal execution, often under tight timelines. Entry-level compensation in India typically ranges from Rs 10 lakh to Rs 20 lakh per annum, depending on the firm and prior experience.
Strong analytical ability, proficiency in Excel and financial modelling tools, and an understanding of capital markets are essential to excel in this field.
2. Forensic Accounting Specialist
These professionals investigate financial discrepancies, detect fraud, and support legal proceedings where required.
The work requires attention to detail, knowledge of accounting standards, and familiarity with regulatory frameworks.
Salaries for early to mid-level roles generally fall between Rs 6 lakh (for beginners) and Rs 15 lakh per annum, with higher compensation in consulting firms and specialised investigations.
3. Green Finance Strategist
As companies face increasing scrutiny from regulators and investors, roles linked to sustainability and governance are gaining importance.
A green finance strategist works on structuring and evaluating investments in renewable energy, green bonds, and sustainability-linked projects.
The role combines financial modelling with an understanding of environmental metrics and regulatory frameworks. Compensation typically ranges from Rs 12 lakh to Rs 14 lakh per annum in India, depending on experience and sector exposure.
4. Corporate Governance Officers
Corporate governance officers are becoming integral to organisations as they navigate complex compliance requirements.
The job is to ensure adherence to regulatory norms, oversee board processes, and support ethical decision-making within firms.
Salaries for these roles generally range between Rs 16 lakh and Rs 18 lakh per annum for professionals with five years or more of experience.
The role requires a strong understanding of corporate law, governance practices, and risk management.
These roles signal a shift in how finance functions are being defined. Beyond reporting and analysis, there is a growing expectation that finance professionals contribute to long-term value creation and organisational accountability.
Top Skills That Matter in Finance
Though a career in finance may have different responsibilities across sectors, commonalities still exist regarding the necessary skills.
Analytical skills are essential, but now they are combined with technical skills, knowledge about regulations, and multidisciplinary competencies. Certifications are still valued for demonstrating expertise.
Certifications like Association of Chartered Certified Accountants (ACCA) and Certified Management Accountant (US CMA) are sought after for careers in international accounting and management accounting, while Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM) are more appropriate for investments and risk careers.
Practical skills are equally valuable. Modelling financial performance, interpreting data, using analytical and reporting software -- all these competencies will be needed in most positions.
Effective communication becomes crucial when working in a team or in roles requiring interaction with third parties.