A diploma in financial management is a one-year curriculum in which students study financial management concepts as well as business decision tools and techniques that aid in the interpretation of financial statements. Admission to Diploma in Financial Management programs is based on a candidate’s performance on a relevant entrance exam and a round of counseling that follows. They must have completed 10+2 or an equivalent test from a recognized institution. Working capital management, international finance, and mergers and acquisitions are among the topics covered in the course. It will assist in understanding the method and knowledge required in analyzing cost centers, an organization’s spending, and creating effective balance sheets, as well as the issue of cost minimization and profit maximization. The curriculum emphasizes the development of financial management abilities that are essential in the industry.
The typical cost of a Diploma in Financial Management varies from INR 10,000 and INR 8 lakhs, depending on the college or university. Government institutions, on the other hand, may charge lower fees than private institutions. The topics of computation, appraisal for cost-cutting opportunities, and managing a company’s financial accounting and reporting system are well-structured in this course. For the fresh and updated knowledge that will be sifted and pupils will be assigned a level-up study, the student’s core concept must be clear.
Financial Services & Research Analyst, Management Trainee, Finance Assistant & Accountant, Project Coordinator, and many other positions are available to Diploma in Financial Management graduates. The average wage is between INR 3.2 and INR 5 per month. Graduates with a Diploma in Financial Management can pursue an MBA, a Postgraduate Diploma, or other related courses. They can even pursue a Ph.D. in Finance later on.
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Eligibility Criteria For Diploma in Financial Management
An examination at the 10+2 or equivalent level with a minimum of 50% of the marks at 10+2 or equivalent level from a recognized state or central board (40 percent to 45 percent for reserved category students) must have been passed by the candidate. It is necessary for prospective students to not have any unfinished business from the 12th grade or comparable level in any of the subjects that they wish to pursue further education in at the time of application. In the case of reserved category students, it is possible that they will be required to submit their reservation certificates issued by the appropriate authorities in order to be eligible for the benefits that are available to them.
For PG in Diploma in Finanacial Management –
A bachelor’s degree or any other similar test from a recognized board or university is required, as is a 10+2 education certificate. Must have earned a minimum of 50 percent in their Bachelor’s degree in order to be considered. Prior to being considered for admission into the courses, students must first pass the appropriate entrance exam (if applicable).
Course Overview For Diploma in Financial Management
|Course Type||Diploma After Graduation|
|Name||Diploma in Financial Management|
|Frequency of Examination||1 year|
|Type of Exam||Semester/Annual|
|Eligibility||10+2 or equivalent pass-out candidates with a minimum of at least 50%.|
|Type of Entries||Entrance exam and Merit-Based|
|Average College Fees||Between INR 10,000 and 8,00,000|
|Average Annual Salary||INR 2 – 8 LPA|
|Top Recruiting Areas||Amazon, Snapdeal, JustDial, Concentrix, Airtel, Foodpanda, Micromax, Samsung, IBM, HCL, TCS, Adobe, Himalaya, Dabur, Blue Dart, Big Bazar, Impact QA, etc.|
|Top Sector||Colleges & Universities, Front Offices, Management of Companies, Banking Sector, Self-employment, etc.|
|Job Roles||Financial Services & Research Analyst, Management Trainee, Finance Assistant & Accountant, Financial Consultant, Financial Accountant, Market Analyst, Investment Analyst, Loss Control Specialist, etc.|
What is Diploma in Financial Management ?
Financial Management is closely linked to the development of a company’s financial elements, as well as assisting them in achieving their goals and objectives through the use of various solutions.
It handles all of the financial components of a company’s operations in order to assist them in minimizing risks and troubleshooting financial problems. interested in banking courses and the specialist subject that focuses on the financial management system at an organizational level Students who excel in commerce and have the ability to arrange the budget structure of an organization might consider taking this course.
This course is well-structured, covering topics such as computation, cost-cutting opportunities evaluation, and the management of a company’s financial accounting and reporting system. Students should have a clear understanding of their fundamental concepts in order to benefit from new and upgraded knowledge that will be filtered and students will be assigned to a level-up study.
Various institutions and universities in India provide specialized courses in Financial Management to students. There are various levels of Financial Management courses available to students, such as undergraduate, postgraduate, diploma, and other courses, among others.
For those who are interested in studying these topics and planning to pursue a career in this sector, have a look at the information provided in this article to learn everything you need to know about the profession.
When we talk about financial management, we are talking about the well-organized and effective organization of money (funds) in such a way that the objectives of the society are met. It is a dedicated function that works in close collaboration with the top management. The impact of this function is not only seen in the Department but also in the size of the Company in the broader scope of a company’s operations. Different authorities on the ground have defined it in a reversible manner.
Financial Management’s Scope in India and Foreign Countries
Financial management is among the most well-paid and secure professions in India and internationally. Companies all over the world use qualified individuals to oversee their financial operations, assist them in resolving challenges, finding solutions, and assisting in the expansion of their businesses. Liberalization, development, and privatization have resulted in a massive increase in this project’s opportunities. Today, many Indian enterprises are forming joint ventures in other countries, and more multinational corporations (MNCs) are flocking to India. As a result, students pursuing
Financial Management courses have excellent employment prospects both in India and overseas.
Candidates can develop their careers in a variety of industries and work opportunities. Several students are also eligible for various scholarship programs that allow them to study a portion of the course foreign while studying Financial Management courses.
Benefits of a Financial Management Diploma
After passing the course, students will be able to develop cash management mechanisms, present assessments, and analyses for cost-cutting opportunities, and administer a company’s financial accounting and reporting systems. Here are the more benefits of this course listed below:
Gain a better understanding of the fundamentals of finance.
People who are not in business or who have not taken financial planning courses frequently use their knowledge in their work. How so? Because personal finance is synonymous with management, and these courses can be used to both personal finance and company or corporate settings. People who have a better wage as a result of inheritance, as well as lottery winners. To better comprehend their financial condition and manage their money, they’ve all successfully completed financial education training courses.
1. Increases the number of job opportunities
Among the most prominent benefits of taking financial management, the course is that it broadens your work prospects. This could be for your current company or for others, but the more qualifications you have, the better qualified you are for the roles. Furthermore, prospective companies admire persons who voluntarily improve themselves by pursuing new education.
2. Adapts to Other Training Well
A competent financial management course can also serve as a strong foundation for further study and can be tailored to specific career requirements. The skills you gain in the course can be applied in a variety of ways for various professions, preparing you for additional training in certain areas. This occurs when a company is seeking someone with a strong foundation who can be trained further to execute a certain function, this type of qualification is a perfect fit.
3. Receive back into the habit of learning.
Most of us will have graduated from high school or university and may not have had any formal training since then. Some of us may have gone right from school to work. However, when there has been a gap in the study, even if it is only a brief one, it can be beneficial to reintroduce education, and a financial management course is appropriate for this. You might even develop a taste for it and wish to take further training classes.
4. Job satisfaction rises as a result of learning.
People’s job happiness improves when they improve their education on a topic, according to studies. So, if you’re taking financial management courses to prepare for a new job, you might discover that following the training, you’re more confident and prepared. This increases your overall job happiness while also making you a more valuable team member.
5. Make Use Of What You’ve Learned
This type is, of course, incredibly useful if you plan to start a small business or work as a lone trader. Learning sound financial management can enable you to keep better track of your personal finances, as well as the financial condition of your organization. This is important for both short-term and long-term performance, as poor cash flow and financial mismanagement leading to a shortage of knowledge are common causes of business failure.
Skills Requirements for Diploma in Finanacial Management
Here is the list of common skillsets that are required for the course :
Accounting expertise is the procedures and talents that enable you to track, document, and manage financial transactions in a timely and efficient manner. The majority of recruiters expect you to have accounting abilities because they are necessary for completing the financial analysis, financial reporting, data management, financial modeling, and a wide range of other related jobs, among others.
A solid understanding of accounting abilities will undoubtedly assist you in obtaining a decent position as a finance expert in the future. Following the acquisition of these financial abilities, you can concentrate on obtaining some of the most profitable positions available in the sector, such as Chartered Accountant, Certified Public Accountant, and so on.
For finance professionals, critical thinking is an essential talent. It refers to analyzing and comprehending a situation in order to interpret it and come up with a thinking and educated answer. As a finance professional, you’d be responsible for resolving a wide range of issues, from technical to interpersonal. When analytical thinking and problem-solving are your strong suits, you can rapidly come up with innovative solutions that will benefit the firm, creating you a valued asset. Financial analysis, risk analysis, risk management, strategic financial planning, and data analysis are just a few of the domains where analytical thinking is important.
Financial analysis is the practice of using abstract methodologies to depict a real financial situation. Financial analysis is the process of creating a mathematical model that depicts an asset’s or portfolio’s financial performance over time. Financial analysis aids in estimating a company’s value or comparing multiple companies. They can be used for strategic planning, such as assessing the cost of a new project, deciding on a budget, or testing a specific scenario. Companies almost always expect you to be adept in financial forecasting if you’re applying for senior-level positions.
In the financial industry, being able to communicate effectively is crucial. You’d be working with a large group of people and would need to communicate technical information to a non-technical audience several times. It would also be difficult for you to share ideas and collaborate with other team members or departments if you didn’t have great communication skills.
Experience in Management
Although freshmen don’t really need managerial experience, anyone aiming to take on managerial roles in a company must have this skill. You must be able to manage and supervise teams, solve both internal and external challenges, and demonstrate leadership abilities as needed.
Even though it may seem obvious, having excellent calculative skills will undoubtedly be beneficial to you in your career as a financial professional. Whether it’s data management or financial analysis, there are numerous fields in which you can put your mathematical skills to good use. Financial analysis, predictive analysis, data management, and accounting are just a few of the fields in which a thorough understanding of mathematics is required. It is a fundamental talent that is required for all finances. It will be much easier for you to build strong analytical skills if you have strong calculative skills and a solid understanding of the majority of math concepts.
Admissions Procedure in Diploma in Financial Management
Application to the Diploma in Financial Management program is mostly based on a student’s merit, which comprises the percentage of marks earned in high school 12th or comparable exams. A qualifying entrance examination is administered by a few universities in order to give admission.
Various academic institutions hold their own entrance tests for the purpose of admitting candidates to the program; hence, students must apply for these exams. In order to be admitted to the degree, aspiring students must qualify for these entrance tests. Following the completion of the qualifying examination, a merit list of qualified candidates is generated, and these qualified candidates are asked to participate in the admissions process by the respective institutes or universities.
Students are asked to submit the course fee and register for the appropriate school year after the final allotment of all seats to the students. Most colleges, on the other hand, make admission a simple and painless procedure that may include merit-based admittance within the course.
Top colleges for Diploma in Finanacial Management
Below listed are the top colleges to pursue courses.
|College Name||Average College Fee|
|NMIMS University||INR 35,000|
|Indian School of Business Management and Administration, Delhi||INR 14,900|
|Indian School of Business Management and Administration, Bangalore||INR 14,900|
|Indian School of Business Management and Administration, Hyderabad||INR 14,900|
|All India Institute of Management Studies||INR 2,300|
|Dr. Babasaheb Ambedkar Open University||INR 40,000|
|Ramanujan College||INR 5,000|
|Swami Vivekanand University||INR 43,100|
|ATM Global Business School||INR 2,90,000|
|Institute of Management Development and Research||INR 56,000|
|University of Mumbai||INR 48,400|
Syllabus For Diploma in Finanacial Management
Here is the list of subjects that students have to study during the course:
- Managerial Economic
- Money and Capital Markets
- Portfolio Analysis
- Risk Management
- Managerial Finance
- International Economy & Finance
- Investment Planning & Management
- Tax Planning
- Strategic Cost Management
- Introduction to Accounting
- Advanced Marketing
- Money and Capital Markets
- Statistics for Business
- Financial Management
- Accountancy for Managers
- Human Resource Management
- Operations Research
- Strategic Management
- Financial Analysis and Reporting
- International Financial Management
- Security Analysis and Portfolio Management
- Management Information Systems
- Business Writing
Job Prospects for Diploma in Financial management
Since employment in the Financial Management field is among the highest-paid, students get a lot of bang for their buck when they enroll in the courses. Skilled people have a variety of work options, including Finance Manager, Advisor, Service Analyst, and many others. In the field of financial management, there are several job openings for qualified experts to fill open positions in firms. Whether it’s a graduation or a doctorate, the designation and compensation are determined by the level of education and industry experience.
Getting a position in a financial organization, company, or market is the fundamental cornerstone of a fresher’s career. The role of a finance graduate is quite dynamic, as they must communicate with various divisions of the firm and be prepared to connect with customers on the front end if necessary. Following are some of the most common job titles available to finance graduates once they complete their studies
Due to the wide scope of Financial Management, they also have the option of working in India or abroad. students can also work in the educational sector, for example, as lecturers or professors. This field has a lot of openings, and qualified people with perfection, competence, efficient skills, and capability are in high demand.
Students seeking studies in the Financial Management field have excellent employment possibilities across the board, from colleges and universities to large multinational corporations.
Various Roles in Diploma in Financial Management
A Diploma in Financial Management provides you with numerous opportunities in the field of Finance. You will be offered different job roles according to the requirement here is list of some of the job roles:
Investment banking is considered one of the most prestigious careers in the financial industry. In terms of professional progress and money, it seems to be a rewarding viable career. Economic renovation projects are overseen by investment bankers. Dealing with data and facts, as well as making decisions that enhance corporate operations, is part of their job description.
Financial markets and economic developments must pique the interest of these specialists, and they must have a thorough comprehension of them. Among the most appealing (and hard) financial careers is investment banking. Investment banks help companies and governments raise money through bonds, equities, public offerings, venture capital, and mergers and acquisitions.
Other job categories include trading and stockbroking, as well as asset management and equity research. Investment bankers are professional traders or authorized representatives who buy and sell stocks on behalf of their clients. Asset managers make decisions on which investments to make in order to grow their clients’ portfolios over time while reducing risk. In order to assist individual and institutional investors in making investment decisions, equity research professions require determining the value of certain investments.
2. Corporate Finance
Corporate finance is microfinance that deals with the provision of funds for business purposes. It focuses on capital restructuring, investment decisions, and funding sources. Financial analysis, predictive analysis, data management, and accounting are just a few of the disciplines that require a thorough knowledge of mathematics. It is an essential skill for all financial positions. It will be much easier for you to build strong analytical skills if you have high calculative skills and comprehend most mathematical principles.
3. Risk Management
The process of discovering, assessing, and controlling threats to an organization’s capital and profitability is known as risk management. Financial uncertainties, legal liabilities, technology challenges, strategic management failures, accidents, and natural disasters are all potential causes of risk.
A comprehensive risk management program allows a company to analyze all of the hazards that it confronts. Risk management also looks at the link between risks and the potential for them to have a cascade effect on an organization’s strategic goals. Professionals in risk management are skilled at identifying market hazards and recognizing poor investment outcomes. Their major goal is to systematically maximize earnings while minimizing risks.
4. Financial Ananlyst
Financial analysts are typically employed by non-financial firms or government bodies. Financial analysts are employed by nearly every significant organization, regardless of sector or industry, to assess cash flows and expenditures, maintain budgets, and other tasks. These analysts may also aid with capital raising or determining the appropriate financial structure for the company. Market experts have the possibility to advance in their company’s ranks, potentially becoming treasurer or chief financial officer.
5. Public Accounting
Accounting is a broad subject of study and practice that encompasses a wide range of financial services. In general, it is concerned with the recording and maintenance of a public entity’s or private company’s cash flow. Accounting professionals also provide recommendations and provide reports to help clients reduce costs, increase revenue, and enhance their financial health.
6. Financial Planners
Financial planners assist people in making strategies to ensure their financial security in the present and future. Typically, they examine a client’s financial objectives and devise a savings and investment strategy. The strategy could be centered on wealth preservation or investment growth, as well as estate and tax preparation.
Average Salary for Diploma in Finance Management
Given Below is the list of average salaries for various roles:
|Job Role||Average Annual Salary|
|Financial Service Analyst||INR 3-4 Lacs|
|Management Trainee||INR 3-4 Lacs|
|Financial Assistant||INR 2-4 Lacs|
|Finance Manager||INR 9-10 Lacs|
|Accountants||INR 2-3 Lacs|
Future Scope of Diploma in Finance Management
The foundation of the business structure is financial management. Businesses, shareholders, and officials can make wise decisions based on the information created and retained by companies using the financial accounting framework. Being able to present financial statements true and fair is a vital skill to have as the world moves toward a more collaborative and transparent ecosystem, where inter-company and international exchange are posing new technical challenges and expanding opportunities to improve reporting standards and guidelines.
The skillset will always be in demand because businesses and the people who work for them need to be able to assess the company’s financial health. It is in high demand these days. The Indian banking and financial services industry is growing at a rapid pace. It’s really India’s fastest-growing economy, growing at a rate of 9% per year. A diploma gives you the skills and information that the banking and financial services sector needs.
Students who have completed the 10th and 12th grades can take this course to gain the key skills needed for a successful career in India’s Banking and Financial Services business. Basic financial concepts are taught, as well as how to manage client relationships, distribution methods, and effective communication skills. As a result, they can work as Business Correspondents.
Students can also enroll in full-time on-campus courses such as BBA, MBA, or any other Postgraduate Diploma courses in the same field. Afterward, they can apply for Ph.D. programs, which will grant them a doctorate degree and allow them to conduct research in the field.
FAQ’s of Diploma in Financial Management
Undoubtedly, this is one of the finest career alternatives for students who want to earn a lot of money and have a lot of work prospects. Finance is the most important component of every organization, thus planning, controlling, and managing financial activities is a must for every company.
Every company in the world must manage its finances in order to profit and develop. As a result, every large corporation hires candidates for financial management. Students are usually hired by major corporations after completing their education at schools or universities around the world.
Fresher candidates’ starting salaries range from Rs. 3 to Rs. 10 lakhs per annum (Approx.). In the Financial Management area, candidates can expect remuneration packages of Rs. 15 – 20 lakhs per annum (approximately), depending on aspects such as level of skill, experience, college, and firm.
The cost of a Diploma Diploma in Financial Management ranges from INR 10,000 to INR 8,000,000. Government colleges, on the other hand, charge lower fees than private institutions.
Several of the primary areas where qualified individuals in the subject of financial management can find work includes- Universities and Colleges, Companies with Front Offices, Banking Sector of MNCs, and Self-employment
The average pay for a fresh Diploma in Financial Management graduate is INR 3 LPA. They can expect a salary of INR 5-8 LPA if they have several years of experience.
Successful financial managers have a variety of skills, including leadership, problem-solving abilities, interaction, research, and emotional intelligence, among others.
Accounting, financial analysis, basic microeconomics, money, credit, and banking, among other subjects, are covered in depth within the Diploma in Financial Management program.
NMIMS in Mumbai, Sai Nath University in Ranchi, Dr. Babasaheb Ambedkar Open University in Ahmedabad, and the Institute of Management Development and Research in Pune are just a few of the best colleges and institutes in the country.
Individuals from any discipline or stream are welcome to enroll in Financial Management courses. Students with a business background or knowledge of courses such as economics and accounting, on the other hand, have an advantage in this sector.