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Who is a Finance Executive?
Beware of little expenses; a small leak will sink a great ship ~Benjamin Franklin
As the name suggests, the role of Finance Executive is all about money management. The role of Finance Executive involves monitoring the organization’s income expenses and investments. He or she is responsible for overseeing financial transactions and information. A Finance Executive job description involves creating and evaluating financial reports including cash flows. He or she helps a company to improve the profit margin, cut expenses and make market moves concerning the present dynamics to remain ahead of competitors.
He or she stays focused on planning and directing financial transactions for an organization. A Finance Executive usually works on a full-time basis in an office environment. Strong accounting and analytical skills are crucial for the role.
Finance Executive in a Nutshell
A career as Finance Executive requires one to be responsible for monitoring an organization's income, investments and expenses to create and evaluate financial reports. His or her role involves performing audits, invoices, and budget preparations. He or she manages accounting activities, bank reconciliations, and payable and receivable accounts.
Quick Facts for Finance Executive
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Industry
Finance
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Suitable for
Male, Female, Others
A career as Finance Executive is suitable for each and every individual. There is no gender-based discrimination or varying roles and responsibilities. Anyone who is skilled and has relevant qualifications may opt for the Finance Executive job role.
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Any special needs
Yes
A career as Finance Executive is suitable for candidates with special needs. It is more of a desk-based job role. Candidates having knowledge of working on finance-based software such as excel sheets, spreadsheets and other relevant skills with required qualifications may opt for this role.
Table of Contents for Finance Executive
What is the role of Finance Executive?
The everyday tasks of a Finance Executive involve overseeing finance and accounting activities. His or her work responsibilities include preparing financial reports, analyzing cash flow, and making recommendations for improvement. The role of Finance Executive includes managing finance performance metrics and compliance with the organization’s policies. He or she establishes financial strategic goals, objectives, and performance criteria. The roles and responsibilities of Finance Executive include cutting costs and maximizing profits. He or she has to collaborate with the organization's top executives over budgeting and taxes. A career as finance Executive may also be required to hire new staff and develop schedules.
Managing Administration
A Financial Executive is responsible for managing the administration of the Sales Force. He or she creates and automates business-specific reports.
Budgeting
A Finance Executive roles and responsibilities involve directing and coordinating corporate-level budgeting, financial analysis, and reporting systems. He or she ensures compliance with the GAAP standards and regulatory requirements.
Analyses
The Finance Executive roles and responsibilities include performing in-depth comparative ROI analysis to provide assistance to executives in strategic planning and business improvement initiatives.
Payroll Systems
The job description of Finance Executive includes entering new joiners or new hires on payroll systems. He or she sets up deductions, union dues, garnishments, and benefits.
Creating Groups
The job description for Finance Executive involves creating groups and users for various business segments to assign security and filters in order to define Essbase privileges on them.
What is the workplace/work environment of Finance Executive like?
A Finance Executive usually works in an office environment. Since there are no field responsibilities associated with this role, he or she is not required to travel. A Finance Executive spends plenty of hours on desk settings working on excel spreadsheets or other accounting software. There is no physical labor involved in the Finance Executive career which makes it suitable for candidates with special needs. A Finance Executive usually works fixed hours until and unless there is a deadline.
Does Finance Executive require travelling?
Not Likely
A Finance Executive job does not involve any field work, hence he or she is not required to travel.
Employment Shifts
Full Time, Work From Home
A Finance Executive usually works on a full-time basis. There is no part-time, fieldwork, or on-call work associated with this job role. Occasionally, he or she may be provided with work from home.
Employment Nature
Contractual, Permanent
One can find both types of job roles contractual and permanent in the career as Finance Executive. It depends on the requirements of organizations. Several organizations retain candidates after the completion of their contractual terms by providing them with a permanent job role.
Work Place
Office, Work From Home, Remote Work
A Finance Executive career usually comes with a workplace as an office. Work from home or remote work may also be provided in the Finance Executive career.
Presence in Geographical Area
Urban
Bengaluru provides the highest salary to Finance Executives as compared to the national average. Delhi and Mumbai also provide promising Finance Executive job opportunities.
Time Pressure
Likely
Yes, a Finance Executive is required to work under frequent time pressure to complete tasks.
Overtime Details
A Finance Executive may often be required to work extended hours. It is quite a norm to work extended hours in a career as Finance Executive.
Weekly Hours of Work
Min 35 Hours
A career as Finance Executive requires working 35 to 40 hours per week but it may vary depending on the organization.
How to become a Finance Executive?
What are the skills and qualities required to become a/an Finance Executive?
Are you searching for Finance Executive skills? We have listed below details of the Finance Executive skills required to take up a full-time job role and perform efficiently in the work environment.
Organizational Skills: A Finance Executive has to perform multiple tasks. He or she must stay organized to avoid any mismanagement.
Communication Skills: The professionals working as Finance Executive requires to be clear while conveying their thoughts, opinions, or ideas to their peers, employees, or upper management.
Detail-Oriented: A Finance Executive must be detail-oriented. He or she is required to carefully audit the balance sheet. A little mistake in figures or calculations may cause a huge blunder.
Analytical Skills: A career as Finance Executive demands analytical thinking to understand the situation and interpret it. He or she is required to interpret future outcomes and derive a thoughtful response.
Popular Online Finance Courses and Certifications
Which certifications and internships can be helpful in becoming Finance Executive?
We have listed below major Finance Executive courses. Aspirants who want to upgrade their knowledge and skills to acquire a Finance Executive job role or get progress in their career may undergo these courses.
Internship Availability
A Finance Intern or Finance Executive Intern is often provided with several roles and responsibilities. He or she is required to work in close contact with the accounting team. A Finance Intern is required to analyze balance sheets including accounts reconciliations. A Finance internship provides him or her with the exposure and hands-on working knowledge to acquire full-time Finance Executive jobs.
Career Path Progression for Finance Executive
Below are details of Finance Executive career progression. With experience in the industry, one can progress up to the level of Chief Financial Officer. There are a lot of Finance Executive career options available in various organizations.
Finance Executive: A Finance Executive is a professional who manages income, expenses, and investments as well as other money transactions. He or she creates cash flow statements, and profit projections and improves financial performance.
Finance Officer: A Finance Officer job role involves providing assistance in budget preparation, and managing records, and receipts. He or she reconciles daily, monthly and yearly transactions and processes invoices.
Chief Financial Officer: The Chief Financial Officer is the top financial position in an organization. He or she tracks cash flow and financial planning to analyze the financial strengths and weaknesses and give strategic recommendations.
Finance Executive Jobs and Salaries
Finance Executive
Contractual/Permanent
- Starting Salary 25800
Job Description
A Finance Executive is responsible for overseeing a company's financial transactions and information concerning budgets, income flows, and mergers. A finance executive helps a company to improve profit margin, cut expenses and make dynamic market moves.
Salary Description
The Finance Executive salary varies depending on the candidates’ skills and experience. A junior-level experienced Finance Executive salary ranges from Rs. 309600. While a senior-level experienced Finance Executive salary ranges from Rs. 606000 per annum.
Finance Officer
Contractual/Permanent
- Starting Salary 23417
Job Description
A Finance Officer work involves handling financial issues and decisions. He or she oversees accounting departments, reviews reports and creates budgets. A Finance Officer prepares financial statements and ensures compliance with state and federal government regulations.
Salary Description
The Finance Officer salary varies depending on the candidates’ skills and experience. A Junior-level experienced Finance Officer earns an average salary of Rs. 281002 per annum. While a senior-level experienced Finance Officer earns an average salary of Rs. 688733 per annum. The salary data is taken from payscale.com.
What is the job outlook for Finance Executive?
There are varying Finance Executive jobs. The financial industry is constantly expanding giving rise to the number of job opportunities for individuals. There is an expected job growth of 16 per cent for finance executives A bachelor’s degree is a must for a Finance Executive role. Several employers prefer a bachelor’s degree with a work experience of a few years.
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Frequently Asked Questions for Finance Executive
Que. What is the average salary of a Finance Executive?
Ans.According to talent.com, the average salary of a Finance Executive is Rs. 400,000 per annum.
Que. What is the required qualification to become Finance Executive?
Ans.A bachelor’s degree in business administration, economics, finance, or accounting or other related specialisation is required to become a Finance Executive.
Que. What is the average fee of a BBA in Finance?
Ans.The average fee of BBA in Finance ranges Rs. 200,000 to Rs. 500,000 per annum.
Que. What are top Finance Executive Colleges?
Ans.We have listed below top Finance Executive colleges:
Que. What is the average salary of a Finance Executive?
Ans.According to talent.com, the average salary of a Finance Executive is Rs. 400,000 per annum.
Que. What is the required qualification to become Finance Executive?
Ans.A bachelor’s degree in business administration, economics, finance, or accounting or other related specialisation is required to become a Finance Executive.
Que. What is the average fee of a BBA in Finance?
Ans.The average fee of BBA in Finance ranges Rs. 200,000 to Rs. 500,000 per annum.
Que. What are top Finance Executive Colleges?
Ans.We have listed below top Finance Executive colleges:
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