Corporate organizations have become the fabric tying together different professional domains in a single landscape in recent times. Corporate financial management is integral for nurturing and growing corporate entities and aiding globalization across the world. Hence, it isn’t surprising to see global growth in the field.
Corporate financial management has many rewarding career options that can provide great earning potential. Whether the economy is surging or facing a slump, businesses require people for handling their finances intelligently to scale their operations and bring in more revenue. Pursuing an advanced degree in corporate financial management can kick-start your business career.
Read this blog to understand the top benefits of pursuing corporate management courses and career prospects after course completion.
What are the advantages of a corporate financial management course?
A corporate financial management course can help you with establishing a successful financial career in any domain. Here are a few ways of pursuing a course in organizational management can benefit your commercial or business career.
- Be a globe-trotting professional: A career in finance can give you a chance to carefully observe and work in international markets. You can develop the flexibility to work with people from diverse backgrounds. An international career in corporate financial management can also provide you with a chance to visit exciting places throughout the world.
- Get to contribute to your nation’s economic development: As a financial manager, you are responsible for the growth of your company and its operations, which can indirectly impact the GDP of your nation. Thus, you also get a chance to contribute to the economic development of your country.
- Develop sustainable financial alternatives for global challenges: Intelligent management of capital across businesses and countries can help you in saving up some resources for the underprivileged on behalf of your company. A corporate financial career can help you contribute to the field of sustainable finance and maximize capital to fund sustainable causes.
- Have an exciting work life: A financial career can offer opportunities to work in dynamic work environments, driven by innovation and teamwork. You also get a chance to tackle a wide range of exciting challenges in wealth management.
What career opportunities can you expect with a corporate financial management program?
Every company in the world requires graduates trained in financial management to run the financial side of large corporate entities. Thus, pursuing a financial management degree can get you into any avenue or career domain of your choices such as media or healthcare.
With the global economy surging, the jobs in the corporate management sector are only expected to increase. According to a report by the United States Bureau of Labour Statistics, the number of posts in financial analysis can be expected to increase by almost 23% of the current figure. We can safely extrapolate the data for a global scenario.
Here are some exciting career opportunities with corporate financial management that can interest you, along with their median salaries. All salary figures are as per the US Bureau of Labour Statistics.
- Financial Analysts
Most financial analysts are involved in capital budgeting, including estimating the company revenue for creation of the annual budget and monitoring it regularly to adapt it to current circumstances. They also assess financial proposals and decisions concerning the buying and leasing of company equipment.
The median salary of financial analysts globally is around $ 56,928 annually.
- Cost Analysts
Cost analysts are responsible for important decisions concerning the pricing of product or services. They identify different strategies and plans which can result in cost reduction for the company. They are also involved in market research to see the product pricing patterns of the competitors in the market and analyse the factors behind the success of some product prices.
The global median salary for cost analysts falls in the range of $ 50,000 to $ 60,000 per year.
- Credit Managers
Credit managers are in charge of deciding how much credit their company needs from the market to function sustainably. They also calculate the different credit rates to be extended to suppliers and credit guidelines. They decide on the collection of receivables and their securitisation. The role requires a comprehensive knowledge of supply-chain management and financial statement preparation.
The role of a credit manager can bring in a median salary of $ 61,180 annually.
- Cash Managers
Cash managers are integral to the day-to-day functioning of a business. They handle all the short-term and long-term cash requirements of the company and ensure a constant positive cash flow at any point in time. They also build and maintain good relationships with the banks for the company’s credit and capital needs and manage international fund transfers.
The annual salary package of cash managers ($ 61,984) is comparable to that of credit managers since their responsibilities are similar.
- Benefits Officers
The role of a benefits officer lies in the intersection between financial management and human resource management. Benefits officers are responsible for handling pension funds and healthcare plans or benefits for the company employees. They ensure the pension funds or healthcare schemes are cost-effective for the company as well as beneficial for its employees at the same time.
A Benefits Officer can redeem a median salary of $ 46,722 per year.
- Investor Relations Officers
Investor relations officers are mostly hired by private or investment banking institutions as well as credit-lending companies. They are in charge of fostering and maintaining good relations with external investors (both individual and institutional). The role has some overlap with personal relationship management and requires professionals to have exceptional written and spoken communication skills.
Investor relations officers hobnob with top executives of client companies, reply to investor queries, issue press releases about financial events and organise investor conferences.
The annual median salary of investor relations officers is around $ 86, 770.
Any career in the corporate finance setup can require you to develop specific skills needed for the domain, such as extensive knowledge of finance and tax regulations and the ability to analyse and research thoroughly. A corporate finance management course can provide all that and much more. Enrol in a corporate financial management course today to secure your future in the corporate landscape.