
Financial Data Scientist
Price
₹7,00,000 to ₹21,00,000
Duration
4-6 years
Skills Required
About the Course
A Financial Data Scientist is a professional who combines expertise in finance, statistics, and data analysis to extract meaningful insights from financial data. This role focuses on using advanced analytical techniques to help organizations make informed financial decisions, assess risks, and improve operational efficiency.
Education Pathway:
1. Complete 10+2 with PCM or Commerce (2 Years)
Streams:
-Science (PCM):
Subjects include Physics, Chemistry, and Mathematics (PCM).
Focus: Develop strong analytical and problem-solving skills. Mathematics is crucial for data analysis.
-Commerce: Subjects include Mathematics, Business Studies, and Accountancy.Focus: Understanding basic financial principles and accounting practices while honing mathematical skills.
Key Takeaways:
-Mathematics: Essential for data analysis, statistical modeling, and programming.
-Computer Science (if available): Familiarity with programming concepts can be advantageous.
2. Pursue a Bachelor’s Degree (3 Years)
Options:
B.Sc. in Data Science:
-Course Content: Statistics, data mining, machine learning, programming (Python, R), and databases.
-Key Skills Developed: Data analysis techniques, programming skills, and an understanding of data structures.
B.Com. (Hons) or BBA:
-Course Content: Financial accounting, business management, statistics, and electives in business analytics or financial analysis.
-Key Skills Developed: Understanding financial principles, business strategies, and quantitative analysis.
Recommended Colleges:
B.Sc. in Data Science:
-Indian Institute of Technology (IIT): Various IITs offer B.Sc. in Data Science programs.
-Indira Gandhi National Open University (IGNOU): Offers distance learning programs in data science.
-University of Mumbai: Provides a B.Sc. in Data Science with a focus on practical applications.
B.Com. (Hons) or BBA:
-University of Delhi: Offers B.Com. (Hons) in various colleges.
-Shri Ram College of Commerce (SRCC): Renowned for its B.Com. (Hons) program.
-Jamnalal Bajaj Institute of Management Studies (JBIMS): Offers BBA with a focus on management and analytics.
3. Gain Practical Experience
Internships:
-Importance: Gain hands-on experience in real-world settings.
-Where to Look: Financial institutions, consulting firms, fintech startups, or data analytics companies.
Projects:
-Types:
Work on projects that involve: Financial modeling and forecasting.
Data analysis of financial markets.
Building dashboards for financial reporting.
-Portfolio Development: Showcase these projects to potential employers as practical experience.
4. Pursue a Master’s Degree (Optional, 1-2 Years)
Options:
-M.Sc. in Data Science:
Focus: In-depth study of machine learning, big data analytics, and statistical methods.
Key Skills Developed: Advanced data manipulation, predictive analytics, and research methodologies.
-MBA with a Specialization in Business Analytics or Finance:
Focus: Combines business strategy with data analysis techniques.
Key Skills Developed: Leadership, strategic thinking, and advanced financial management skills.
Recommended Colleges:
M.Sc. in Data Science:
-Indian Statistical Institute (ISI): Known for its strong emphasis on statistics and data science.
-University of California, Berkeley (for international options): Offers a highly regarded M.Sc. in Data Science.
-Jain University: Offers a comprehensive M.Sc. in Data Science.
MBA with a Specialization:
-Indian Institute of Management (IIM): Various IIMs offer MBA programs with electives in analytics.
-Xavier Labour Relations Institute (XLRI): Known for its MBA with a strong analytics component.
-SP Jain School of Global Management: Offers an MBA with a specialization in Business Analytics.
5. Certification (Optional)
Recommended Certifications:
-Certified Financial Analyst (CFA): Focuses on investment management, portfolio management, and financial analysis.
-Financial Risk Manager (FRM): Specializes in risk assessment and management.
-Data Science Certifications: Offered by platforms like Coursera, IBM, or Microsoft, focusing on machine learning, big data, and analytics.
Benefits: Certifications can enhance your qualifications, signal expertise to employers, and provide networking opportunities within the industry.
Skills Required:
Statistical Analysis: Data interpretation and statistical methods.
Programming: Proficiency in Python, R, and SQL.
Financial Knowledge: Understanding of financial markets and principles.
Data Visualization: Use of tools like Tableau and Power BI.
Machine Learning: Familiarity with predictive modeling techniques.
Problem-Solving: Strong analytical thinking.
Communication: Clear presentation of insights to stakeholders.
Scope:
In India:
Rapidly growing demand in banking, fintech, and consulting sectors, driven by data-driven decision-making and regulatory compliance.
Abroad:
High demand in global financial markets, investment firms, and tech companies, with opportunities for roles in risk management, investment analysis, and quantitative research.
Job Opportunities
In India:
Jobs: Financial Data Scientist, Data Analyst, Risk Analyst, Quantitative Analyst, Business Intelligence Analyst
2. Sectors: Banking, Fintech, Consulting, Insurance.
Companies: TCS, Infosys, HDFC Bank, ICICI Bank, ZS Associates, Paytm.
Abroad:
Jobs: Financial Data Scientist, Quantitative Researcher, Investment Analyst, Risk Management Analyst, Data Scientist in Financial Services
2. Sectors: Investment Banking, Asset Management, Technology, Consulting.
Companies: Goldman Sachs, JP Morgan Chase, Morgan Stanley, Deloitte, Amazon, Barclays.
Salary
In India:
Entry-Level: ₹6-10 lakhs per annum
Mid-Level: ₹10-20 lakhs per annum
Senior-Level: ₹20-40 lakhs per annum
Abroad:
Entry-Level: $70,000 - $100,000 per annum
Mid-Level: $100,000 - $130,000 per annum
Senior-Level: $130,000 - $200,000+ per annum
Note: Salaries can vary based on experience, location, and the specific company and course fees are subject to changes. Course duration can be more depending on the number of papers cleared per attempt.