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MBA in Finance: A guide for the right choice

MBA in Finance is often treated as the sure shot way of securing a stable, high-paying and lucrative career that offers excellent employment opportunities and preferential lift to climb the corporate ladder.

Jul 24, 2018 18:28 IST
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MBA in Finance: A guide for the right choice
MBA in Finance: A guide for the right choice

There is no doubt in the fact that MBA in Finance in India is an excellent career choice for students who are genuinely interested in the field of finance. However, lack of awareness regarding the scope of the subject and the immense opportunities that it offers often results in students being confused about career options and prospects available to them after MBA in finance.

To help students who are confused about how to secure lucrative jobs after MBA in finance and build an excellent career, we have compiled a comprehensive guide, detailing the academic and professional opportunities that this field offers. In this article, we would provide you in-depth information about various dimensions of MBA in Finance course.

  1. What is MBA in Finance?
  2. Why MBA in Finance?
  3. Eligibility for pursuing a career in Finance
  4. Personal Skills Requirement
  5. Scope of MBA in Finance
  6. MBA in Finance Syllabus
  7. Career Options after MBA in Finance
  8. Pay Packages after MBA in Finance
  9. Top Colleges for pursing MBA in Finance
  10. Top Recruiters for Finance Course

What is MBA in Finance?

MBA in Finance is often seen as the sure shot way of securing a stable, high-paying and lucrative career that offers excellent employment opportunities and preferential lift to climb the corporate ladder. Anyone who has completed their MBA with specialization in finance will be able to tell you that the above statement is not only false but a myth. No academic programme, be it MBA or any other offers a shortcut to success. Everyone has to toil hard in order to succeed both academically as well as professionally. The unfortunate consequence of the hype around ‘Finance’ – one of the most preferred management specializations; has been that the candidates choose this option without truly considering their aptitude, potential and even scope of the subject.

Why MBA in Finance?

One of the main reasons behind ‘finance’ becoming a preferred choice for MBA aspirants lies in the financial crisis that the world faced in the last decade. In reaction to the financial crisis, top companies and financial institutions started hiring financial analysts and managers to safeguard their assets against any such future occurrences. This contributed to the rise of MBA in finance job opportunities that offered high paying jobs to finance professionals in top companies across the globe. Consequently, financial managers became one of the most in-demand professionals at the global stage, fuelling the MBA in finance hype. If we disregard this factor, which has been pretty much neutralized right now; MBA in finance & accounting is just like any other MBA specialization with the prime focus upon financial concepts.

Eligibility for pursuing a career in Finance

A student who wishes to pursue his/her career in finance must have completed thier graduationdegree in any stream, with a minimum marks of 50%. The selection for such courses is done on the basis of entrance examinations conducted at the National or state level such as CAT/MAT/XAT/SNAP/CMAT etc.

Personal Skills Requirement

Another important consideration which is often ignored but is crucial to consider before pursuing any specialization is a SWOT analysis of your own personality. A person planning to pursue MBA in Finance should possess these qualities:

Are you Systematic?

Are you Punctual?

Do you love calculations?

Are you Organised?

Are you good in Money Management?

Scope of MBA in Finance

Taking about the subject matter of MBA in Finance course, it offers the basic understanding of financial concepts from a managerial perspective. Students enrolling in MBA in finance programmes are provided thorough  knowledge of fundamental financial concepts like corporate finance, budgeting, costing, international finance, investment & securities and working capital management. Apart from this, MBA in Finance students are also trained in the skill of analytical thinking, concepts of making managerial financial decisions, striking a balance between risk and profitability and evolving financial consolidation process for different business models. Students, who have studied commerce and accountancy at the undergraduate level, will be at ease with many of the aforementioned concepts. However, MBA in Finance offers a managerial perspective on these concepts and relates them to different types of models and business scenarios that exist in the financial world today.

MBA in Finance Syllabus

In your two-years full-time MBA programme you be equipped with the skills and knowledge required to understand the fundamentals of the Financial Department of your concerned organization. Further, with the job experience and associated knowledge of the industry, you would also gain ample knowledge and know-how to remain abreast of the development going on in the Financial world.

Subjects that you will study while pursuing MBA in Finance are:

MBA in Finance Subjects

Financial Management

Managerial Economics

Accounting for Managers

Operations Research and Management

Strategic Financial Management

Management Accounting

Project Management

Merchant Banking And Financial Services

Global Financial Management

Financial Derivatives

Mergers and Acquisitions

Security Analysis and Portfolio Management (SAPM)

Career Options after MBA in Finance

Majority of students are confused about the job opportunities available to them after completion of their courses. Some of the popular job positions available to students after MBA in finance are as mentioned below:

Pay Packages Offered after MBA in Finance

One of the biggest factors that attract MBA aspirants to choose finance as their subject of specialization is the excellent remuneration packages on offer. Today, MBA in Finance is considered to be the highest paid profession, with candidates being placed at mid level and senior level positions in reputed organisations. Candidates who have completed MBA in finance generally find employment with the department of finance and accounting in both public as well as private organizations. Private organizations like MNCs, especially those who specialize in investment banking and financial matters; are known to offer exuberant packages to finance managers who have passed out from reputed B-schools like IIMs. Public sector organizations are more balanced employers, with freshers fetching 10 to 12K monthly salary and professionals with 3-5 years of experience getting an average 50 to 60k monthly package.

Pay packages offered to MBA in Finance candidates also differs on the basis of the different roles and responsibilities that are handled by them. Financial managers are placed at different positions from financial analysts and business analysts thus leading to remuneration packages in different range. An approximate idea about it is given in the table below:

Job Position / Profile

Average Salary

Package Range

Research Analysts

Rs 3.2 Lakh

Rs 2 to 9 Lakh

Financial Analysts

Rs 3.5 Lakh

Rs 2 to 9 Lakh

Business Analysts

Rs 4.5 Lakh

Rs 3.5 to 9 Lakh

Sr. Financial Analysts

Rs 5 Lakh

Rs 2.7 to 12 Lakh

Asst. Finance Manager

Rs 5.5 Lakh

Rs 3.1 to 10 Lakh

Finance Manager

Rs 9 Lakh

Rs 3.5 to 18 Lakh

Pay packages offered to MBA candidates is also affected by the location or the city of work. When it comes to MBA in Finance, Bangalore – the IT capital of India, has emerged as the highest paying city to financial managers and analysts. Apart from Bangalore, metropolitan cities like Delhi and Mumbai along with cities with rapid economic growth like Hyderabad are likely to offer finance managers the best packages, compared to other cities. For your reference, we have provided the city-wise break-up of MBA in finance salaries being offered in different locations below:

City / Location

Salary Bracket Offered

Mumbai

Rs 2.7 to 24 Lakh

Delhi

Rs 2.3 to 23 Lakh

Bangalore

Rs 2.5 to 18 Lakh

Hyderabad

Rs 2.1 to 17 Lakh

Chennai

Rs 2 to 14 Lakh

Kochi

Rs 1.7 to 14 Lakh

Ahmedabad

Rs 2 to 9 Lakh

Patna

Rs 2.5 to 8.5 Lakh

Vadodara

Rs 1.8 to 7 Lakh

Surat

Rs 1.75 to 4 Lakh

Top Colleges for pursing MBA in Finance

  1. Indian Institute of Management, Ahmedabad
  2. Faculty of Management Studies, Delhi
  3. Indian Institute of Foreign Trade Delhi
  4. Delhi School of Management
  5. Department Of Business Economics, University Of Delhi South Campus
  6. IMT, Ghaziabad
  7. Guru Gobind Singh Indraprastha University
  8. Lal Bahadur Shastri Institute of Management
  9. International Management Institute, Delhi
  10. IIT, Delhi

Top Recruiters for Finance Course

When it comes to top recruiters, there is no dearth of top brands and companies who are looking for skilled and qualified finance managers. Almost every organization has an accounting and finance division; therefore, all organizations are potential recruiters for MBA in finance candidates. However, when talking about top recruiters, investment banking companies, private equity organizations, venture capitalists, hedge fund shops along with financial institutions and general corporate organizations top the charts in terms of hiring finance managers. Apart from this, if you are looking to build your career in public sector, finance ministry, RBI and other allied organizations can be great opportunities for you.

Investment Banking

General Corporate Finance

Barclays

Amazon

Citigroup

American Express

Credit Suisse

General Motors

JPMorgan Chase India

Pfizer

Morgan Stanley

Prudential

Merril Lynch

GE Money India

Boston Analytics

Tata Motors India

KPMG India

Wipro Infotech India

For more updates on MBA Career related information, keep visiting jagranjosh.com

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