How to Become a Transaction Manager

Q: What are top Transaction Manager colleges?

Top Transaction Manager colleges are IIM Ahmedabad , IIM Bangalore , IIM Calcutta , FMS Delhi and IIM Indore .

- Salary, Qualification, Skills, Role and Responsibilities

Who is a Transaction Manager?

Financial transaction tax raises problems of competition ~ Jose Manuel Barroso

A Transaction Manager stays involved in coordinating transactions over one or more resources. He or she is responsible for the creation of transaction objects as well as managing their durability and atomicity.

One of the major responsibilities of a Transaction Manager is keeping track of all resource managers enlisted in a transaction. A Transaction Manager carries out two-phase commit protocols of the transaction. During the first phase, he or she ensures that all enlisted resource managers are prepared.

In the second phase, Transaction Managers are responsible for notifying the resource Managers about the status of their transaction if it is aborted or committed. In this article, we will be discussing how to become a Transaction Manager in India, skills, and Transaction Manager eligibility

Transaction Manager in a Nutshell

A Transaction Manager is responsible for handling legal and financial matters. He or she monitors liabilities, coordinates leases, subleases and purchases and finds real estate opportunities aligning with company goals. a Transaction Manager utilises resources to negotiate the best deals for the company.

Quick Facts for Transaction Manager

Industry
Finance
Suitable for
Male, Female, Others

A career as a Transaction Manager does not come with gender-based restrictions. An individual gender does not affect his or her career growth in the industry.
Any special needs
Yes

A Transaction Manager career suits candidates with special needs. Several industries offer desk jobs and do not have any travel requirements. Such jobs are best suited for the role of Transaction Manager.

Table of Contents for Transaction Manager

What is the role of Transaction Manager?

What is the workplace/work environment of Transaction Manager like?

How to become a Transaction Manager?

What are the skills and qualities required to become a/an Transaction Manager?

Which certifications and internships can be helpful in becoming Transaction Manager?

Career path progression for Transaction Manager

Transaction Manager Jobs and Salaries

What is the job outlook for Transaction Manager?

Frequently Asked Questions for Transaction Manager

What is the role of Transaction Manager?

A Transaction Manager is responsible for controlling and coordinating the execution of transactions within the database. He or she assumes a transaction as a collection of operations in the database. It is bound together into a single run-time unit.

A Transaction Manager initiates the transaction and synchronises the transaction execution with the database, operating system, and other transactions. He or she coordinates inter-transaction communications, commits processing and aborts failure processing as well as transaction constraint checking and condition handling. A Transaction Manager job involves maintaining a log in the storage.

The log is utilised to record the transaction events. A Transaction Manager uses this log for recording transaction starts, commit decisions, enlistment and others. The Transaction Manager writes the log, if missed he or she further reads the log. A Transaction Manager does it early as it restarts to restore the latest state.

Demarcation

The Transaction Manager roles and responsibilities is to perform demarcation. It involves starting and finishing transactions by various means such as begin, commit and rollback methods.

Controlling

The role of the Transaction Manager involves controlling the transaction context. It includes all the information that provides help to the transaction manager in monitoring a transaction. He or she is in charge of building transaction contexts and connecting them to existing threads.

Coordination Transaction

The Transaction Manager job description involves harmonising transactions over various resources. It involves the two-phase protocol. It is used to register and manage the resources.

Recovery Failure

A Transaction Manager roles and responsibilities are to ensure that the resources are not kept in an inconsistent state in case the system or application fails.

What is the workplace/work environment of Transaction Manager like?

The Transaction Manager works in an office environment. The role of a Transaction Manager involves tracking customer developments and trends to provide support in crafting future offerings. A Transaction has to collaborate with Business Developers, Relationship Managers, Portfolio Managers and others. He or she works standard business hours.

Does Transaction Manager require travelling?

Likely

The travel requirements in a Transaction Manager career vary from industry to industry. A Transaction Manager is not required to travel daily. He or she may often be required to travel to check the portfolio.

Employment Shifts

Full Time

A Transaction Manager works on a full-time basis. There are no part-time, hourly-basis employment shifts provided in this career.

Employment Nature

Contractual, Permanent

A Transaction Manager works on a contractual and permanent basis. The nature of the employment depends on the organisation. Candidates can look for Transaction Manager employment opportunities through various platforms such as Naukri.com, Indeed and other platforms.

Work Place

Office

A Transaction Manager works in an office environment. He or she is required to office premises to perform job tasks.

Presence in Geographical Area

Semi-urban, Urban

Transaction Manager's jobs are flourishing in urban cities. In the real estate sector, the average salary of a Transaction Manager employed at Bengaluru is 248 per cent higher than the national average.

Time Pressure

Likely

A Transaction Manager is required to ensure completion of tasks in the given frame of time. Extending deadlines is not considered good practice on the professional front.

Overtime Details

A Transaction Manager may often be required to work extended hours to meet the deadlines.

Weekly Hours of Work

Min 40 Hours

A Transaction Manager works a minimum of 40 hours per week. A Transaction Manager's standard work hours may vary from organisation to organisation.

How to become a Transaction Manager?

Steps to become a Transaction Manager

If you are someone interested in numbers, accounts, transactions or real estate and want to make a career in a similar field then a career as a Transaction Manager is one of the best options for you.

If you want to learn how to create transactions, keep track of all resource managers and look for the details on how to become a Transaction Manager in India then below we have provided step-by-step guidance for you.

Identifying the Skills
Enrol in Formal Training/Course
Pursue Certification Course
Build a Strong Resume
Explore Internship Opportunities
Find Jobs and Apply
Begin your Career

01 Step

Identifying the Skills

To become a Transaction Manager you are required to possess some related skills. In this section, we have provided Transaction Manager skills, including soft and hard skills.

Some of the Transaction Manager skills are communication, teamwork, time management, and problem-solving skills.

Communication Skills	Keen Observational Skills
Problem-Solving	Leadership Skills
Time Management Skills	Teamwork
Analysis skills	Organisational Skills

Some of the hard skills of the Transaction Manager are ATS (Applicant Tracking Systems), accounting, and Customer relationship management.

ATS (Applicant Tracking Systems)	Accounting
Customer Relationship Management	GAAP (Generally Accepted Accounting Principles)
Microsoft Excel and Word	Microsoft PowerPoint and Office

02 Step

Enrol in Formal Training/Course

To become a Web Administrator you are required to pursue formal education. You must pass 10+2 with Commerce subjects and opt for a bachelor’s degree in Finance, Business, or Economics and then a master’s degree in a related field from a recognised board.

Below we have provided Transaction Manager qualifications that include UG and PG entrance examinations, and bachelor's and master’s degrees.

Entrance Examinations

Bachelor’s Degree Programmes

BBA Sales and Marketing
BBA (Bachelor of Business Administration)
B.Com in Accounting and Finance

Master’s Degree Programmes

03 Step

Pursue Certification Course

Below we have provided some of the certification courses that you can pursue apart from your formal education to gain additional knowledge and skills and it will also help you to add weightage to your resume.

04 Step

Build a Strong Resume

When you have pursued your degree or certification course, you can start creating a resume that will display your skills, education, and interests.

05 Step

Explore Internship Opportunities

A Transaction Management intern is responsible for analysing the transactions proposed with clients. He or she assists the senior professionals in the field and prepares the memos related to facilities such as structure, securities, recovery rates, risks and profitability.

You will also collect, log and send payment invoices, organise the filing system and maintain the structured naming and tagging systems and others. Therefore pursuing an internship will help you to gain hands-on experience. You can apply for an internship on various job-offering platforms like Internshala, Interns World, Naukri, Indeed and others.

06 Step

Find Jobs and Apply

As Transaction Manager is not an entry-level position, you will not be able to apply directly for the position. You are required to first opt for entry-level jobs such as Transaction Analyst, Junior Transaction Manager, or a related entry-level role where you will learn about the basics of transaction processes, financial analysis, and documentation.

After that, you can opt for a Transaction Coordinator job to learn and get experience in managing and coordinating the details of transactions.

Once you get some experience you can apply for the Transaction Manager jobs on various online job offering platforms such as Naukri, Linkedin, Monster, Placement India and Indeed and attend some of the relevant interviews.

07 Step

Begin your Career

When you have attended some of the interviews and have some offer letters choose the best among them. You must make a careful decision to begin your career as a Transaction Manager.

What are the skills and qualities required to become a/an Transaction Manager?

Communication skills
Analytical skills
Business sense
Attention to detail
Coordination

We have provided here details of Transaction Manager skills. Candidates who want to become a Transaction Manager are required to acquire these skill sets.

Communication Skills: A Transaction Manager must be proficient in written and verbal communication skills. He or she must be able to translate the technical specifications into clear, concise and unambiguous documentation.

Coordination Skills: A Transaction Manager must possess strong interpersonal skills. He or she is required to coordinate with relationship managers, portfolio managers and other professionals within the organisation

Analytical Skills: The role of the Transaction Manager involves analysing the details of the transactions. He or she has to maintain the bookkeeping and ensure all the transactions are accurately recorded in it.

Detail Oriented: A Transaction Manager is required to be detail-oriented as transactions need to be recorded carefully with all the accurate mistakes. A little mistake or missing out on a figure may affect the entire log and create a big problem.

Knowledge of Business: A Transaction Must possess knowledge of the business or industry for which he or she is working such as Real Estate, Banking or others. He or she must be aware of the technical terminologies used in the industry.

Popular Online Finance Courses and Certifications

Which certifications and internships can be helpful in becoming Transaction Manager?

We have provided here a list of Transaction Manager certification courses. Aspirants may enrol in these courses to upgrade their skills and knowledge for a career as Transaction Managers.

Internship Availability

Yes

Aspirants are required to give a start to their career by opting for Transaction Manager internships. A Transaction Management intern is provided with several roles and responsibilities.

He or she is required to analyse the transactions proposed with clients. The role of a Transaction Manager intern may also involve preparing memos related to facilities such as structure, securities, recovery rates, risks and profitability.

Career Path Progression for Transaction Manager

Senior Transaction Manager: A Senior Transaction Manager role involves conducting special transaction management projects. He or she is responsible for executing process improvements and business initiatives. The role involves coordinating entire lease and sub-lease documents.

Transaction Manager Jobs and Salaries

Senior Transaction Manager

Employment Nature

Contractual/Permanent

Job Description

The role of Senior Transaction Manager involves managing the entire process required to acquire, extend, renew and terminate or dispose of lease agreements. He or she develops positive working relations with the landlord.

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What is the job outlook for Transaction Manager?

Smaller companies give opportunities to employees who have previous experience or those who provide internal training offered by larger organisations. Employers prefer candidates with an MBA in Business Management followed by a BCom or BBA in Banking and Insurance, Accounting, Sales and Marketing or related specialisations.

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Frequently Asked Questions for Transaction Manager

Que. What is the average Transaction Manager salary?

Ans.

The average Transaction Manager salary working in the Real Estate industry is Rs. 718186 per month.

Que. What are the minimum required qualifications to become a Transaction Manager?

Ans.

The minimum required qualifications to become a Transaction Manager is successful completion of undergraduate degree in business administration or any other commerce specialisation with mathematics, accounting and others.

Que. What are top Transaction Manager colleges?

Ans.

Top Transaction Manager colleges are IIM Ahmedabad, IIM Bangalore, IIM Calcutta, FMS Delhi and IIM Indore.

Que. What are the Top Transaction Manager companies?

Ans.

Top Transaction Manager employers are ICICI Bank Ltd., Kotak Mahindra, Indigo Airlines, Clayworks Technologies Limited and Deutsche Bank.

Que. What is the average fee of an MBA in Business Management?

Ans.

The average fee of an MBA in Business Management ranges between Rs. 200,000 to Rs. 20,00,000 per annum.

Que. What does a transaction manager do?

Ans.

In a career as a Transaction Manager, he or she is responsible for managing legal and financial matters, overseeing liabilities, coordinating leases, subleases, purchases, and looking for real estate opportunities.