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MBA in Finance: A guide for the right choice

Jul 24, 2018 18:28 IST
    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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