Last Updated On July 26th, 2016 at 10:21 pm
MBA in Finance refers to Master of Business Administration in financial planning. This is one of the most popular fields of study in India. It mainly focuses on the study of finance-related functions of an organization or government. There are several accredited universities that offer MBA programs in various areas of specializations. Some of the students enroll the course as fresh graduates while others enter with a certain level of experience. Typically, the MBA programs in finance offer part-time or full-time courses. There are certain accredited universities that offer an online course for MBA in Finance for people who wish to pursue the course in their free time.
What is Finance?
The term ‘finance’ refers to the management of funds and investments. This is a vast term with several dynamics of liabilities and assets over a period that involves various degrees of uncertainty. In layman terms, ‘finance’ is the art of money management and MBA in Finance is the professional degree where you learn this art of management in various applications like public finance, business finance, and personal finance. You can categorize finance management as:
Personal Finance: Personal finance involves your own personal earnings, expenditures, and management.
Corporate Finance: Corporate finance involves the expenses and income related to a company, industry, or office.
Public Finance: Public finance refers to the huge money involved in government funds, taxes, and other public-related money matters.
Why MBA in Finance?
Holding an MBA in Finance helps you to take a huge step towards your career goals with a great scope of career opportunities in the finance industry. Popular financial institutions or investment companies, International law firms, mortgage companies, and banks would welcome you!
There is a constant demand in the financial industry for qualified financial professionals with essential skills due to the financial crisis all over the world. It lets you explore all opportunities available in the financial sector. Almost every industry has the need for financial experts to manage the income, spending, investments, tax, and more.
With the leadership skills and in-depth knowledge acquired through your MBA in Finance, gives you a great start to enter your career in a leadership or executive level. If you are already working, it qualifies you to get into higher levels or seek new opportunities.
MBA can make your dream of becoming an entrepreneur come true. With networking opportunities, hands-on experience during the internship, and entrepreneurial skills acquired through the course, you are ready to start on your own. MBA can bring a new excitement to your financial career.
MBA in Finance is a professional master’s degree that mainly focuses on the strategic and in-depth understanding of various aspects of finance within organizations. It is 2-year professional degree course, which focuses on all aspects of management techniques. It is the first step, which helps you to professionally prepare yourself to have a great career in the finance field. There are choices for you to choose a one-year course; a two-year course; a part-time course with evening classes; or as an online course in your free times. There might be slight variations in eligibility of enrollment for each of these choices.
As a study course, ‘Finance’ refers to the subject, in which you will learn:
- Review and control of collection
- Management of fund
- Capital monetary resources (fund) required for setting up a plant or industrial building and its operation.
To be eligible for MBA in Finance, you must hold an undergraduate or 3-year degree in any streamline with a good score in GMAT, CAT, etc. Popular B-schools and universities conduct their own entrance exams to determine the eligibility. Other prerequisites include letters of recommendation, an essay from students, etc.
Students with accounts/commerce background hold high credibility for enrollment. This course helps you to seek a job in various areas like commercial banks, corporate banks, companies, real estate, investment services, etc. You can also choose to take up an online MBA finance course from a recognized university.
What do you learn?
The 2-year course of MBA in Finance gives you exposure to various aspects of finance and management techniques. It also prepares you with practical internship training, which gives you an exposure to apply what you have learnt with a leading company. To simply put, the course gives you theoretical knowledge, practical experience, and also gives you various skill sets you will require to be in a leadership role.
Some of the topics included in the course are Basics of finance, Stock market analysis, Futures and Options, Risk Management, Global Economy, Bankruptcy, Financial Instruments, Investment Banking, Financial Strategies and Marketing Leadership, Economics and Statistics, Corporate Finance and more.
Theoretical knowledge, when backed up with hands-on experience, can make a huge difference in your growth – personally and in a career. As a part of MBA in Finance course, you get to work for few months with leading companies like Goldman Sachs, Microsoft, Google, J.P. Morgan, etc. It not only helps you to expand your networking with prospective companies but also sharpens your proficiency to practically face clients and take up projects. Taking such internship gives you additional credits to your course scores. Moreover, if you are fortunate, you will be absorbed or continue to work with the same company for which you did your internship.
Skills Developed from an MBA Finance Program
Choosing to do an MBA in Finance course will not only give you a wide exposure to the financial field but will also help you to develop various skills to practically work with the best companies or start on your own. Some of the skills include:
- High skills in people and finance management
- To interact with companies
- Leadership and analytical skills
- Presentation skills
- Business and decision-making
- Critical thinking
- Marketing strategy
- Interpersonal relation and communication skills
- Networking and overall management skills
The course equips you with a comprehensive, holistic approach and understanding of the financial world.
Career Opportunities after Doing MBA in Finance
Doing MBA in Finance opens the door to jobs in both private and government sectors.
- Business Finance: As a fresh MBA finance graduate, you can get into entry-level positions in a treasury or credit division. You will be in charge of analyzing credit applications, bill collecting support, managing short-term investments and cash, handle bookkeeping, and prepare budgets.
- Financial Institutions: As an MBA finance graduate, you may join commercial banks to get trained in different departments. After training, you will have opportunities to work with branch supervision, lending, internal auditing, investments, trusts, and operations.
- Personal Financial Planning: You can seek a job in companies that provide national financial services in various areas like tax, insurance, retirement, estate planning, investment, etc.
- Risk Management and Insurance Companies: MBA Finance graduate qualities you to work in entry-level positions to manage claims adjustments, credit management etc. In addition to these, you will also be in charge of sales, management training, underwriting, etc.
Other roles involve asset management, corporate banking, corporate finance, and private equity, hedge fund management, treasury, derivatives structuring, etc. Your career can start with some of the leading giants like Bain & co, Merril Lynch, Morgan Stanley, Goldman Sachs, McKinsey, etc.
Obviously, career openings in private firms are more exciting and challenging with a speedy growth and high package. But it is quite dynamic and requires very high responsibilities and hard work with extreme leadership qualities. However, since there is an enormous growth in the private sector the career opportunities are more exciting than public sectors.
Scope of Doing MBA in Finance in India
With the amount of fluctuation in the financial market, MBA finance has a huge scope in India and all over the world. Though the economy might be varying between highs and lows, you will always find a high demand for finance graduates. MBA in Finance opens the gate to your financial career at various levels in the following fields.
- Banking and Finance: You can work with security firms, banks, insurance companies, financial organizations, and portfolio management. Companies like J.P Morgan, Goldman Sachs, RBS, Nomura, Barclays, etc. always have opportunities for you. Other choices are to work with popular banks like Yes Bank, ICICI, Axis Bank, Kotak Bank, SBI, HDFC, RBL, etc. constantly hire MBA finance graduates for various requirements.
- Investment Banking: This is one of the jobs in demand. Companies like Motilal Oswal, SBI capital markets, Bank of America Continuum, and many others have several openings for MBA graduates. Your main role would be to connect investors and organizations that need fund.
- Private Equity: Your skill in investment management and private equity will help you grab opportunities with various popular companies like Religare, DE Shaw, Kotak life, Axis Securities, ICICI Prudential Asset Management, Indiabulls Housing Finance, Angel Broking, Bajaj Finserv, JP Morgan Chase, Fullerton, and several other companies.
Salary for MBA in Finance Graduates
In India, the minimum salary for an MBA Finance graduate is around Rs. 5,00,000 per annum. It can rise up to around 20,00,000 per annum, depending on the organization you join. The private sector offers exciting opportunities and high salary while experience in the government sector is more valuable.
Areas of Work for MBA in Finance Graduates
Students who complete MBA in Finance aim to get into fields like; asset management, corporate banking, corporate finance, portfolio management, derivatives market, the stock market, bond market, taxation, treasure, etc. Some of the top recruiters in India who look for MBA Finance graduates include JP Morgan, Deutsche Bank, Merril Lynch, McKinsey, Goldman Sachs, Barclays, etc.
There are a never-ending demand and a series of career options for MBA in Finance graduates in India. In addition to completing an MBA, you can also choose to pursue your education to obtain a Ph.D. in finance to aim for the director and CEO roles of your career. There are never ending possibilities for MBA graduates. Some even choose to teach in colleges and universities. Working as a freelancer to take up individual assignments for a small company or businessman also is a great option!
Wishing you Success!