Complete Guide To Financial Modeling Jobs
Confused about the Financial Modeling Jobs available in the market? Well, you can have a prosperous career in financial modeling if you want to get into the finance and accounting industry. A lot of students from commerce backgrounds are not aware of the infinite possibilities they have in this field. You might think that there are just a few age-old and conventional options available for you. But in this new age, a lot of changes have occurred. In this article, we will talk about everything related to financial modeling. So why wait, just dig in!
What Does Financial Modeling Mean?
One of the common tendencies of our society is the huge inclination we have towards specific streams. If a student has scored great marks in the final examination, then he or she will definitely take up science. Why? Because people have this misconception that you don’t have a lot of scope in this field.
Not everybody can be a chartered accountant! Right, but who said that you can gain success in the field of commerce if you are a chartered accountant? There are a plethora of options available for the students today. Financial modeling is one such field. Financial Modeling is basically the process of recording various financial and monetary transactions.
By financial transactions, we mean, the profits, losses, revenue collection, debts, investments, etc of a particular company or firm. This type of recording usually takes place on a day-to-day basis. While earlier this was a manual-based job where the recording had to be done by complete human effort, today we have excel and tally to ease our work. Being a practical skill-oriented job, doing a financial modeling course will help you to get better opportunities.
Also read: Top 6 Financial Modeling Courses in Singapore
Scope of Doing a Course For Getting Good Financial Modeling Jobs
Financial Modeling is a skill-specific field. Even as a newbie in the industry, you would be required to possess certain skills that will aid your working capability. Students coming from commerce backgrounds are usually familiar with a lot of theoretical and conceptual knowledge but they lack practical application-based skills.
The accounts and finance department forms the core of any industry or firm. Finance is also one of the main driving factors behind a nation’s stability. Without proper experience and knowledgeable officials, any firm, industry, or nation can become debt-ridden or bankrupt. To have a stable functioning of any institution, the financial department has to be kept stable. Thus, you can understand the importance of the people working in this field.
With thousands of students passing out with a degree in commerce, the competition has risen significantly. In such a competitive market, any recruiter would search for additional skills that you possess. How recruiting you would turn out to be beneficial for the company is one of the foremost motives behind employing you. A financial modeling course will come to your benefit here.
A financial modeling course is a practical skills-based course, where you will be exposed to a number of techniques and practices that are used in this field. The course is designed to help you experience a smooth transition from theoretical concepts to practical applications. At the end of this course, you will receive a course completion certificate that would make you a certified financial modeler. You can later upload this certificate to your job profile to make yourself more noticeable.
Most of the institutes providing this course will also give you internship opportunities that will help you to get a practical experience in the market. As an intern, you will acquire and accumulate a lot of necessary skills not specific to just the financial field. Professional work ethics, adaptability, time-management, interpersonal skills, etc will also be understood by you during this period. Hence, if you want to make it big in the field of finance, it’s best to do a course.
You may like to read: Top 5 Financial Modeling Courses in Ahmedabad
Types of FM Jobs In the Market
Being a field of great importance, there is always a need for skilled and young talents in this field. In today’s digital world, there are a lot more opportunities than were available before. Some of the best financial modeling jobs one can get into are:
- Investment Banker
- Tax Collector
- Financial Analyst
- Risk Management
- Debt Manager
- Revenue Collector
- Profit Analyst
- Financial Advisor
- Book Keeper
- Financial Supervisor
- Monetary Agent
Eligibility Criteria For Doing a Financial Modeling Course
- Ideally should be from a commerce background: This is a skill-based short-term course. Since the duration is less, most of the curriculum is based on practical training. Even the theories taught to you are always in relation to their application. In such a situation, it becomes extremely necessary on your part to be aware and well-versed in the basic terminologies related to this field. While coming from a commerce background is not a hard-bound rule, it is always better to be from this field to get a proper understanding.
- Basic Computer Knowledge: The tools and techniques that you will be taught during this course are all related to the computer. Due to the introduction of the internet, a lot of older techniques have now been digitized. As a person, basic knowledge about computer applications is necessary for you to understand the concepts that will be taught to you during the course.
- Good Analytical Skills: Being a highly technical field, you will be required to showcase your analytical skills at your workplace. Though you will get time to develop these skills during your course, a basic inherent analytical ability is a benefit. This intrinsic analytical ability will help you to comprehend the concepts and their applications in a better way.
- Simple English Proficiency: Most of these courses are delivered in the English language. When you will work on the computer using the tools that are taught to you, the default language will also be English. For a good understanding of skills and techniques and their proper application, a basic command of the English language is important. You don’t have to be an expert in the language. Just a simple understanding of the it is enough.
- Time Management: A financial modeling course is a professional course where a lot of concepts and tools will be covered over a limited period of time. Since time is an issue, it is very important on your part to manage your time and daily routine accordingly. You have to make sure to make time and attend all the classes. Missing out on classes or skipping them will create a gap. Also, timely submission of assignments, class works, projects, and presentations is a must. Proper time management will help you acquire all the skills and also avail the complete benefit of this course.
Also read: Top 7 Online Financial Modeling Courses
Skills Needed To Get Good Financial Modeling Jobs
- Excel Proficiency: This is probably the most important skill needed in this industry. MS Excel and spreadsheets form the core elemental tool used in this industry. All the recordings that you will do like profits earned, losses incurred by the company, new investments, total revenue collected, added loans, etc are all done using excel. The calculations are also done on these spreadsheets to help one present these to other people. Be it auditing, analysis, forecasting, modeling, managing, etc all will require you to be highly proficient in excel.
- Inter-Personal Skills: When you are working at a place, it will always be coordinated and teamwork. You will not work in isolation. Similarly in the finance department, there will always be a requirement for you to interact and coordinate with other members. For example, as a financial forecaster, you will be required to have details of all the transactions that have taken place. In such a situation, you will need to interact and work along with the analyst, auditor, modeler, and all the other related departments. A well-developed interpersonal skill among the members or employees will lead to a growth in the company’s profit.
- Problem Solving Ability: A finance department is a field where problems are a part-and-parcel of the job. Various kinds of problems arise due to different issues. Drastic changes or a completely different result is a frequent occurrence here. You, as an employee, must have the ability to deal with and thereby solve problems. To solve problems you will need to take a practical approach that will help one to understand the problem and thereby suggest solutions. You cannot function efficiently if you lack the ability to solve problems.
- Market Awareness: The market is a dynamic field where there is a constant change that is occurring. As a person part of the finance and accounts department, you have to be constantly aware of the various developments that are occurring in the market. As an analyst, forecaster, or modeler, you will have to be well aware of the market scenario. It is through your understanding of the market, will you be able to forecast important financial issues like investments or ways to increase profits, etc.
- Computer Savy: A person working in financial modeling jobs is required to have a great understanding of computers. It is not only required for using various tools and techniques, but also for the presentations that would be a frequent affair in your job. While excel will be the primary tool that you will be using in your work, you must also have adequate knowledge of the computer functions as well. In this way, you will be a highly productive employee for the company.
- Mathematical Calculations: One of the most important functions of a financial modeler or a person working in the finance department is making calculations. Since modeling refers to the systematic recording of mathematical calculations, you have to have adequate knowledge of it. While you will use the spreadsheets for the calculations, the proper knowledge of the formulas along with a sound analytical and calculative mind is a necessity.
You may like to read: Top 10 Financial Modeling Courses in Mumbai
Financial Analyst and Forecasting and Financial Modeling
The work of an analyst, forecaster, and modeler is always interconnected and interrelated. They don’t work in isolation. You might be wondering how financial modeling is useful for a forecaster, right! But as a forecaster, you have to understand the models presented in front of you.
A Financial Analyst is a person who has to comprehend a complex model presented in front of him. This model often includes various complex calculations that any common person will never understand. The analyst will then be required to make a detailed and well-researched analysis of the models and thereby pass-on that information to the forecaster.
The forecaster will then use his or her own set of analytical skills, study the current market situation, estimate future changes and thereby make a prediction or a forecast. Where a company should invest to increase the profits earned, the particular time when a new product should be launched in the market to maximize profits, or how to avoid economic crises are all part of this forecast.
Thus, to be an analyst, or a forecaster, a proper understanding of different kinds of models is a necessity. Based on particular situations or complexities, different and varied kinds of models are used by a financial modeler. To analyze and make forecasts, you will also be required to have a great understanding and comprehensibility of different models. A course on financial modeling will help you to understand the models after which you can join different financial modeling jobs based on your preference.
Institute Providing FMC To Help You Get Good Employment
IIM Skills- Financial Modeling Course
IIM Skills is one of the leading institutes providing professional skill-based courses to its students. The institute was founded in the year 2015 with the sole purpose of making students aware of the practical skills and thereby making them employable. One of the most genuine problems faced by students is the lack of professional skills needed in the job world. The lack of exposure to skill-oriented education, makes a lot of young talents miss out on good opportunities.
Before even proving your ability, the interviewer will reject you due to your lack of skills. This institute understands the following problem and has hence introduced a variety of professional courses that will help you get your dream job. The courses provided are practical and skill-based where professional experts will train you about the concepts, theories, skills, and work etiquette. You will learn about the current in-demand fields of jobs with constant guidance from the experts.
Course: Financial Modeling Master Course
Fees: INR 39,900+18% GST
Duration: 50+hours OR 3 months
Mode: Live Online Classes
1. Basic and Advanced Excel
- Introduction and understanding of the Ribbon
- Keyboard shortcuts
- Regular use functions- Vlookup, Index, etc
- Rules of Conditional Formatting
- Data Validation
- Table functions
- Pivot tables, Pivot Charts, and Slicers
- Different types of charts and graphs
- Sensitivity analysis
- Delimit and Flash Fill
- Return functions
- What-If analysis
2. Accounting Concepts and Financial Statements
- Key Accounting Fundamental concepts
- Concepts of keyline items
- Concept of comprehensive Income
- Relevance of Notes
- Preparing common size financial statements
- Reading of Annual Report
3. Ratio/KPI Analysis
- Types of Ratios
- Activity Ratios
- Liquidity Ratios
- Solvency Ratios
- Profitability Ratios
- DuPont formula
- Valuation Ratios
- Basic and diluted EPS
- Financial Summary
4. Basics of Financial Modeling
- Structure for a financial model
- Creating Scenarios
- Building Revenue
- Preparing different schedules
- Projecting financial statements
- Error tracking skills
- Formatting tips
- Addition of cover page
5. Types of Financial Models
- LBO Model
- Three-Statement Projection Model
- M&A Model
- Private Equity Return Model
- 13-Week Cash Flow Model
6. Business Valuation
- Relative Valuation
- DCF Valuation
- NAV Approach
- Football field analysis
- Valuation Output
- Valuation Report
- Pre-money and Post-money valuation
Perks of doing this course:
- This is a practical course where extreme attention is given to the skills that are developed in the students. The institute will provide you with 5 case studies. These case studies will help you understand the varied ways a market functions. Through the analysis of each model, you will be able to develop a new perspective that will enable you to approach a problem properly. A lot of practical assignments and projects will be given to you to develop your practical and analytical skills.
- Lifetime access to LMS is provided to all the students. The market being a dynamic space, new kinds of techniques and tools are introduced regularly. Every new class conducted, new materials provided, and knowledge of recent tools are all provided in the LMS. You can access those materials whenever you wish to. If you want to know about the latest tools or revise a particular topic, you can always fall back on the LMS.
- Internship opportunities are available. This internship period is one of the most vital periods where each day, you will be exposed to different kinds of situations and processes. The trainers are going to guide you and train you constantly during this process. The institute also has a dedicated placement cell that will help you understand the current job requirements. This placement cell will help you develop the skills that will enable you to crack an interview. You will also be notified about the new financial modeling jobs.
- Excel training will be provided to you. The transition will be from basic excel functions to advanced excel which is usually used in the finance department. As a newbie to the industry, the practical application and understanding of advanced excel will help you immensely. The knowledge you will acquire will definitely last a lifetime. Any company you want to join will appreciate this advanced knowledge that you have.
Email: [email protected]
Phone: +91 9911839503
Other Courses Provided By IIM Skills
Frequently Asked Questions
Q1. Would doing a course help me get good financial modeling jobs?
Yes. A financial modeling course will give a practical idea about how the market functions. In the professional world, your theoretical knowledge is not going to help you. It is your skills and applicative knowledge that will come to your rescue. A course of this nature will give you immense practical knowledge backed by equally important practical assignments.
Certificates that you will receive upon completing the course can be uploaded on your job portal to make the recruiters aware of your skills. Institutes providing professional courses usually provide you with placement assistance that will help you get a better job opportunity. Thus a course will definitely help you get good financial modeling jobs.
Q2. What is the duration of a financial modeling course?
It usually takes around 3 to 6 months for a person to complete this course. Based on the institute guidelines and curriculum the time duration may fluctuate. But a course like this is basically a short-term course that will get over within 6 months.
Q3. Is there a demo class available for the financial modeling course provided by IIM Skills?
Yes. A special demo class is available for students. You can attend this class to get clarity about the topics taught, curriculum followed, trainers and their qualifications, and all other requirements. This demo class is made available so that you can decide if the course and the curriculum are suitable for you. Only if you like the demo class you will enroll in the course. Hence, a student-friendly approach is taken.
Q4. Does the institute provide an online course?
Yes. The institute provides online-based live training sessions to students. You can do this course by sitting in your home. All you require is a good internet connection and a dedicated mind. The timings of these online classes are also flexible where you get to choose which time is suitable for you.
Q5. Is an internship opportunity provided by this institute?
Yes. Once the regular curriculum of the course is completed, you will be provided with an internship opportunity. Though this internship is not compulsory, it is advised that you take it for better knowledge acquisition. A certificate will also be provided to you once you complete the internship.
There are a lot of good financial modeling jobs available in the market today. The digitization of every department has opened up a lot of opportunities for young talents like you. Don’t wait for a surprising change in your life. Take up a course and surprise yourself with the infinite opportunities that would be available to you. I hope you have been able to get some clarity about the financial field. A shining career is waiting for you!