Project Finance department performs the task of helping loan seekers prepare documentation and financial models to represent their financial health to the financial lending institutions. It largely involves dealing with clients and understanding the peculiarities of the industry in which the client operates.
Of course, profile of a project finance manager is a highly rewarding career choice, given the requirement of companies and other entities who seek loans. However, of course, before you decide to take the plunge, you should know what a typical day in the life of a project finance manager would like –
A typical day in the life of an RM (entry level) :
- You take a look at all the meetings lined up for the day: you have 2 client meetings and 2 internal meetings.
- You run to the first meeting and help your client (a big corporate) decide on the right terms for a 10 year loan.
- On coming back, you initiate the paperwork on the loan and also a term deposit another client wants to start.
- You rush to an internal meeting where the product team is discussing a new product being rolled out.
- You then meet some clients who have come to the branch and solve their queries (an unscheduled meeting).
- Final meeting with a client, another internal meeting with the compliance team, some more paperwork and then you are done for the day!
The above schedule proves that the job profile of a project finance team member involves communication with multiple parties to a large extent. Understanding the exact requirement of the client, plus, unexepected clients are a routine to these managers. Hence, it is equally important that with technical skills, the candidate should hone his/her communication and liasioning skills. Also, it requires him to juggle multiple duties, hence, he must be vigilant about his time management skills.
Salary and perks:
- The starting salary for a Commercial Banking RM is around INR 7-10 Lakhs / annum depending on the bank
- MNC banks often pay higher (~INR 12 Lakhs +) along with a variable bonus
So, if you’ve embarked into a career of project finance, you can be rest assured that there are high growth chances in this field.