If you want a career in financing, you have to get a college degree. To be more specific, you have to graduate with a bachelor’s degree in maths, business, statistics, or economics. The most popular degrees in Nepal related to finance are BBA, BA (Economics), BBS. Since you will be dealing with numbers and using these skills to make decisions and recommendations.
One study shows that there are currently 230,000 financial analysts and financial advisors in the US. There is no any data for Nepal, however. You might think that there is not much scope of finance in the market, but the scope is growing day by day because new businesses are being established while old ones are still growing. The economy of Nepal is predicted to be improving in the current days after the new constitution and political stability. Once things start getting better, there will be a huge boost in the demand for finance graduates and analysts.
With a college degree, one thing you can try is financial consulting for small to medium level businesses here in Nepal. Here, you are tasked on providing advice to business valuation, economic forecasts and analysis, future trends, provisions, strategies for minimizing costs and maximizing benefits. With some efforts and link building, finance graduates can do a lot better in Nepal now compared to few years back.
Later on, you can be promoted to finance manager and instead of providing advice to clients, you will have the opportunity to invest their money in order to make a profit. Those who do well here earn somewhere around 500000 to 1500000 annually and with the amount of money that is given, you better deliver.
Another field is corporate financing in which your job is to manage the client’s assets and, if the opportunity presents itself, make acquisitions. Corporate financing is a handsome and rewarding finance career option. With the increasing corporate houses and industries, one with a good persona, experience and skills backed up with a good college degree can easily be hired by one of these businesses in Nepal.
Working for an insurance company is also a viable option in Nepal. Here, you help prepare clients to deal with catastrophes before they happen. It is a multimillion rupees industry that is still growing, so you can still get in the game. Being involved in a good insurance company will help you not only in accounting and finance but a lot of different areas like dealing power, economic status of country or region etc.
Among the various opportunities, many find their way to commercial banking. You could be a bank manager, teller, the one in charge of approving loans or looking for new accounts. This accounts for the majority of those employed in the financial services industry. Most of the financial graduates in Nepal choose Banking as their choice due to the social status, security and benefits they receive during the career.
In any of the positions mentioned, you must be good with numbers and have excellent interpersonal skills to be successful. To stand out from the crowd of hundreds of thousands of finance graduates, you need to develop something extra in you; IT literacy, vocational power, fluency of English language are few of them.
Aside from banking, the real estate industry is also looking out for finance graduates. This is because their training is useful when it comes to property management, real estate appraisal, brokerage and leasing, construction and real estate development. On one end, they sell a property, while on the other find ways to make it possible for the customer to invest depending on their budget. The concept of the real estate industry is fairly new in Nepal, but with better management and foresight, there is a lot that can be done and experimented in the real estate industry in Nepal. So a good knowledge and understanding of this industry can be charming in Nepal.
A college degree is the starting point of your finance career because no company out there will hire someone who just graduated from secondary school or does not have the proper training when you are dealing with other people’s money. Although SLC or plus 2 pass-outs can work as bookkeepers or junior officers in banks and small companies, good companies will require at least a bachelor’s degree holder to get involved in their finance department.
Really helpful. I was really not hoping to read such a good article about CFA in Nepal. Thanks for the article.