This specialization opens up diverse possibilities in the financial world. The students gain in depth knowledge and skills in the areas of financial management, acquisitions and mergers, banking and corporate financial planning. Upon completing this course, students would be able to analyze company reports, manage capital investments and forecast business trends. a strong background in mathematics and accounting is preferred Although there is no specialized qualification bar to opt for an MBA in Finance.
The duration of the program is 2 years and the average course fee is around INR 1 – 20 Lakh. If you are seeking admission in the IIMs, you must know that they don’t offer MBA with a specific specialization. That means people don’t receive the degree as an MBA in finance from the IIMs, instead everyone receives the degree of MBA in general management. However, students can opt for their preferred electives in the second year.
The expected average salary ranges from 7 to 20 lakh per annum, depending on the job profile. Here is the list of some popular institutes offering this specialization: Name of the Institute Course Fee Exam score recognized by the Institute SP Jain Institute of Management and Research, Mumbai INR 22.1 Lakh CAT/ GMAT Narsee Monjee Institute of Management Studies, Mumbai INR 20.84 Lakh NMAT by GMAC KJ Somaiya Institute of Management Studies and Research, Mumbai INR 18.7 Lakh CAT/ CMAT Lal Bahadur Shastri Institute of Management (LBSIM), Delhi INR 12.9 Lakh CAT/ GMAT Xavier Institute of Social Service (XISS), Ranchi INR 9 Lakh CAT/ CMAT/ XAT/ MAT/ ATMA How to get admission in MBA (Finance)? A minimum aggregate of 50% in graduation (This may vary depending on the college/institute). For an MBA in Finance degree the cost can go up to 40 – 50 Lakh a year, depending on the country and university of your choice. As the industry copes with the aftermath of the COVID-19 pandemic, the need for highly educated and versatile finance professionals has increased.
Therefore, an MBA degree in this field is beneficial for those who aspire to reach the highest managerial positions or start their own business. Therefore, graduates must keep themselves updated with the latest technologies and understand the risks and challenges involved in implementing them. After the master’s degree in finance students can also pursue a doctoral degree in the same subject to further enhance their knowledge. Eligibility Criteria: Graduation from a recognized university. Final year students awaiting results can apply for this program after obtaining a provisional certificate from their college. Some of the colleges may need you to have some prior work experience to get admission into this specialization. The following is the general admission process followed by most institutes/ colleges for admission in MBA in Finance: The eligible students are supposed to clear the competitive entrance exams like CAT, XAT , MAT, NMAT , etc. The student who has obtained the percentile required by a particular college has to then appear for a round of group discussion and personal interview, as part of the final selection process. Some of the colleges also give direct merit-based admission. The selected candidates need to pay the prescribed fees to secure their seats. Study Abroad If you wish to study abroad, the following are the top universities for Business and Management, as per the QS University rankings: Harvard University, USA INSEAD London Business School, UK Stanford University, USA Massachusetts Institute of Technology, USA The most popular countries for this program are US, UK , Canada and Australia. Although, every university has its own eligibility criteria, the following are some common requirements that the aspirants need to fulfill: Bachelor’s degree English Language Proficiency Test score : IELTS/ TOEFL A Good GMAT score Statement of Purpose Transcript Letter of Recommendation Student Visa The cost of studying abroad has two major components, the tuition fee and the living expenses. It is important to get the work permit if you wish to work abroad, however, these are temporary in nature. Scholarships for studying abroad: INSEAD Deepak and Sunita Gupta Endowed Scholarship by INSEAD Business School Oxford Pershing Square Scholarship by Pershing Square Foundation Harvard University – Boustany Foundation MBA Scholarship UWE Bristol MBA Scholarship by the University of the West of England, Bristol Career Prospects Regardless of the size of an organization, finance remains the backbone of every business. MBA gives the students the skills required to shape their innovative ideas. It equips them to deal with their finances. This helps them to cut costs at the early stages of a venture, hence many of them pursue entrepreneurship. For those who are looking to work as a professional instead of starting their venture, some of the popular job profiles that they can go for are: Financial Advisor Budget Analyst Corporate Banking Credit Risk Management Hedge Fund Management Derivative structuring Financial Analyst Portfolio Manager Treasury Manager Investment Banker Equity Research Top Recruiters The following are the top recruiters in this field: Morgan Stanley Deutsche Bank Deloitte EY KPMG Lehman Brothers McKinsey Barclays Boston Consulting Group Goldman Sachs ICICI Bank Recent trends and future scope Finance is a critical component of any business, enterprise and economy. It plays an important role in the advancement of industries. In a developing country like India, having a fast growing financial market, it is safe to say that MBA in Finance has a developing and rewarding scope. This degree incorporates the latest technology with the analytical and presentation tools. In future, the finance professionals will have to consider the significant role of technology. The need for modern systems, the rise of FinTech Companies, blockchain and cryptocurrency, data analytics and a digital transformation are all set to make the future of finance more dynamic. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!