There is an increasing demand for fund managers across India. The stock markets are booming and mutual fund penetration in India is only 3% compared to 30% penetration in Europe and 40-50% penetration in the US. India is a huge consumer story, not many economies in Asia can boast of such a huge market. With increasing mutual fund penetration in India, it is expected that the demand for professionals in the stock picking industry can only go up. This profession is also financially very rewarding. Chartered Accountants , MBA in finance and people with experience in this industry can look for an exciting future in this space as the hiring spree by the major players continues unabated. Financial Analysts in this sector also are in great demand. The other financial services sector related to private equity, insurance and real estate are set to explode.
If you are a corporate executive and interested in teaching and yet at the same not like to quit your high paying job- there is good news for you. Faced with acute faculty shortage reputed B Schools are queuing up to offer visiting faculty or guest faculty offers as this arrangement works well for both the parties. Campuses globally enlist faculty from corporate to increase industry-academic partnership but in India there is severe talent shortage in the academics as salary standards in the the academic circle is still low compared to the corporate levels.
Private Banking is now gradually offering Investment Banking services all under one roof to meet the complex needs of wealthy clients. Successful Indian entrepreneurs seeking opportunities to expand their businesses globally are looking for services that cover both private and business wealth. For private wealth; services are largely focused to investment opportunities in asset classes ranging from equities to hedge funds and specialised services such as trust and estate planning. For business, the services may provide advice on how to to enhance capital and analyse and mitigate risk.
Kotak Mahinda Bank is planning to add another 5,000 people by next year, it is also associating with ISB , Hyderabad to organise customised training programmes for its staff. Uday Kotak , executive vice-chairman and managing director of Kotak Mahindra bank is joining the executive board of ISB, Hyderabad.
Japan is looking for a CEPA- Comprehensive Economic Partnership Agreement with India similar to the one with Singapore which would enable Indian professionals like accountants, doctors etc. to tap the opportunities there. Japan , the second largest economy in the world with its ageing population would surely benefit from a reliable source of world class professionals from India. CEPA agreement includes mutual market access in services through mutual recognition of educational qualifications. Like Singapore, visa liberalisation by Mauritius is being considered to attract Indian professionals to enrich Mauritius's human resource base.
With Indian companies going in for M&As not only in India but in the global arena as well, global investment banks are beginning to step up operations in India. Indian investment banks too are gearing up to adapt to the changing scenario. The number of cross border deals has never been higher- this is no doubt a growing business. With new investment banks entering the country the last few months -there is also a severe talent crunch in this industry dominated by big players like Lehman bros., Credit Suisse etc. The Private equity sector flush with capital have been also successfully attracting the best talent from investment banks. Local players like ICICI Securities and others cannot obviously compete on the compensation package with the big guys but they can give the employees the challenge of being centre stage in an exciting deal.
Consider a career in a NBFC. NBFCs are becoming increasing active and are giving a tough completion to banks. Services which were previously offered by banks are now being offered by NBFCs- take personal loans, insurance and various other schemes all considered the forte of banks. The success of Citifinanacial , GE Money in building large customer focused portfolios and other companies such as M&M Finance, DBS Chola, Sundaram Finance, Shriram Finance to name a few, have all developed a huge asset base , giving a tough competition to the banks. NBFC would always enjoy the advantage of having lower overheads and low cost funds to maximise the value for its customer base.
Companies providing Credit Analytics in India (CRISIL, Inductis, Fractal Analytics, Faor-Issac) are all sensing a bigger opportunity ,with the deadline for Basel-II implementation by the banks (recently extended by the RBI) getting closer, companies offering credit analytics would be in demand as internal teams to to provide such services would be invariably costlier than outsourcing the job to a third party service provider .MNC banks like Citibank, NSBC etc. already have internal teams to provide credit analytics but many Indian banks would opt for third party service providers to bring down costs.
Indian professionals can look forward to working on a long term basis in Mauritius. This visa liberalisation programe would be part of the CEPA ( Comprehensive economic partnership) that is being negotiated between these two countries. This visa liberalization by Mauritius to attract Indian professionals is to targeted to enrich Mauritius's human resource base. Once the agreement is initiated , Indian companies in Mauritius can freely hire from India. Singapore is also considering visa liberalisation for Indian professionals.
