An MBA degree with a specialization in Finance is one of the most coveted degrees. There are many other specializations in MBA. But, the diverse career options that you get after pursuing MBA Finance, you may not get that in any other specialization. In this article, we will look into the MBA Finance Careers in India and Jobs in the Banking & Financial Services Sector for MBA Graduates in India. Additionally, we will also have a look at the best online courses for the banking & financial services job market, and top colleges (business schools) for MBA in Finance in India and abroad.
MBA Finance Careers in India
We are in the age of industrialization. Many industries are being established in India and many other countries. Finance plays a vital role in money management, money resources, and its proper account. Financial tools and instruments hold the key to the success of every business. As the proverb says – it takes money to make money; businesses have to consider their finances for so many purposes, ranging from survival in bad times to bolstering the next success in good ones. How an organization (or individual) finance the business can affect the overall operations, performance, and profits.
MBA in Finance
The MBA degree program provides an opportunity for the student to specialize in various fields such as international finance, investment management, taxation, tax planning, financial statement reporting and analysis, and insurance management. The students, who have done the MBA in finance, have immense job opportunities in government and the private sector. They can be a part of the stock market, top-graded organization, finance related organizations. Besides an MBA finance can also run his own business independently.
There are many career opportunities for MBA Finance graduates. The most popular sectors are banking and financial services, investment banking, management consulting, insurance, wealth management, asset finance, and hedge fund management.
Why Banking and Financial Services Jobs after MBA in India?
The Robust and Growing Financial Services Industry in India
As discussed in one of the previous articles – Career Opportunities for Fresh Graduates in the Banking & Financial Services in India, India has got a robust and growing financial industry. The middle-class section in India is supposed to be 37% by 2026, up from 20% in 2016 (Deloitte Research). More importantly, India has a very young population, with a projected median age of 31 in 2025 and 38 in 2050. So, a larger section of the population, which is dominated by young force, will spend and want to grow their money by investing it. Additionally, the number of high net-worth individuals ($1 million) will increase 58 percent from 2015 to 2020. So, the career opportunities and jobs are limitless within the banking and financial services in India. The banking and financial services sector is among the best industries to work in India for MBA graduates.
Handsome Pay package
The banking and finance industry offers the best pay package to the candidate. It mainly depends on the kind of business school you graduate from, work experience and the work profile. The MBA degree holders in Finance and Banking are known to get the best placement offers from the best top companies in the country. Top B-Schools and Universities have seen students get placed with package of around Rs. 10-15 lakhs p.a. Moreover, for bright and experienced students, the sky is the limit. Foreign placements salaries go up to Crores. One as financial analysts starts off with a minimum pay package of Rs. 4-5 lakhs p.a. Credit analysts and Banking specialists start at Rs. 5-6 lakh p.a. and earn as much as Rs. 20-30 lakh p.a. once they reach senior level positions. Management consultants, start at Rs. 5-8 lakhs and within a few years earn as much as Rs. 15-20 lakhs p.a.
One of the main reasons why MBA in banking and finance is preferable on top of others is because of the Job security offered by this field. If you look around most of the other sectors are experiencing recession and layoffs are happening in the name of cost cutting or cost saving, therefore in the present situation, the banking industry is best in terms of job security. Students with MBA degree holder in Banking and finance can find a job in various sectors such as Financial Institutions, Banks, Financial Consultancies, Colleges & Universities and various government and private & companies. In 2016-17, B-school hiring has witnessed a growth of 30-40 percent over the last five years.
Careers and Jobs in the Banking & Financial Services Sector for MBA Graduates in India
As an MBA finance graduate, there is a wide range of opportunities with banks, mutual funds, insurance, financial consultancies and other finance-related companies. One Specialized in areas of investment banking, international and corporate finance, merchant banking, and portfolio management is offer opportunity for finance professionals.
There are other specialization in Finance viz., Asset Management, Credit Risk Management, Derivatives Structuring, Hedge Fund Management, Private Equity offer opportunities for advanced learners of finance. The future holds promise for an experienced finance professional and can move into the role of a financial consultant and assist with financial policies in any financial organizations.
In the banking domain, one can start their career as Branch Manager, Relationship Manager, Investment Manager, Operations Manager, Wealth Manager, Loan Manager, Financial Adviser (or Counselor) etc. towards the goal of becoming a senior banking professional.
Whereas in Corporate, one can be the corporate-financier, the strategy maker and can reach the top as Chief Finance Officer or Finance Head. Other possible openings for an MBA in finance include the roles of financial planner, investment banker, real estate planner, credit manager, investor relations officer, insurance advisor, etc. Overall, there is a miscellaneous of opportunities in the financial sector, if one is specialized in banking and finance from the below-listed top B schools for management courses.
Top Jobs Roles for MBA Graduates in the Banking and Finance industry in India
- Asset Management
- Corporate Finance
- Corporate Banking
- Credit Risk Management
- Derivatives Structuring
- Hedge Fund Management
- Private Equity
- Portfolio Management
- Stock Market
- Bond Market
Top 3 Broad Lucrative Sectors for MBA Finance Graduates
Within the investment banking space, banks act as middlemen between a company that wants to issue new securities and the buying public. As an investment banker, you will be responsible for raising capital, security underwriting, mergers & acquisitions (M&A), sales & trading, equity research, retail & commercial banking and so on. Know more about Investment Banking Careers.
Corporate finance is all about overseeing the financial activities of a large corporation. In this domain, you will be working towards maximizing the shareholder value through long-term and short-term financial planning and the implementation of various strategies including capital investment decisions and investment banking.
You will study and forecast economic trends, balance risk, and profitability, analyze company reports and suggest improvements, take steps to maximize stock value, manage funds by choosing investment portfolios, and apply the principles of financial risk management.
A hedge fund is an alternative investment vehicle available only to sophisticated investors, such as institutions and individuals with significant assets. It’s basically an investment partnership. It’s a pool of money that takes both short and long positions, buys and sells equities, initiates arbitrage, and trades bonds, currencies, convertible securities, commodities and derivative products to generate returns at reduced risk. As the name suggests, the fund tries to hedge risks to investor’s capital against market volatility by employing alternative investment approaches. As a hedge fund manager, you will oversee and make decisions about the investments in the hedge fund.
Top Online Courses (Coursera & EdX) for the Banking & Finance Services Job Market
Data Science for Executives – Columbia University
Legal Risk Management Strategies for Multinational Enterprises – Boston University
Financial Decision Making – UMUC
Evidence-Based Stakeholder Marketing – ANU
Top Campus Recruiters for MBA Finance Graduates in India
- Goldman Sachs
- Morgan Stanley
- Merrill Lynch
- Bain & Co
- Boston Consulting Group
- Lehman Brothers
- JP Morgan
- Deutsche Bank
- ICICI Bank
Top Colleges (Business Schools) for MBA in Finance in India and Abroad
Top Colleges offering MBA in Banking and Finance in India
- Indian Institute of Management (IIM) – B, A, C, I, L, K
- Xaviers Labour Research Institute (XLRI), Jamshedpur
- Indian Institute of Foreign Trade (IIFT), New Delhi
- Indian Institute of Foreign Trade, Delhi (IIFT)
- Faculty of Management Studies (FMS), Delhi
- Symbiosis Institute of Business Management (SIBM), Pune
- International Management Institute (IMI), New Delhi
- National Institute of Industrial Engineering, Mumbai
- Institute of Management Technology, (IMT), Ghaziabad
- International Management Institute (IMI), New Delhi
- Xavier Institute of Management (XIM), Bhubaneswar
- Institute for Financial Management and Research (IFMR),
- Department of Management Studies (DMS), Delhi
- Goa Institute of Management (GIM), Goa
- Master of Finance and Control (MFC), University of Delhi
- Institute of Finance Management and Research (IFMR), Chennai
- National Institute of Bank Management (NIBM), Pune
- Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS)
- P.Jain Institute of Management and Research, Mumbai (SPJIMR Mumbai)
- Management Development Institute, Gurgaon (MDI)
- Indian Institute of Management, Rohtak
- Indian Institute of Management, Ranchi
- Indian Institute of Management, Shillong
- Shailesh J. Mehta School of Management, Mumbai (SJMSOM)
Top MBA in Finance Programs in the USA
- University of Pennsylvania – Wharton
- The University of Chicago – Booth School of Business
- New York University (NYU) – Stern
- Columbia Business School
- Stanford Graduate School of Business
- MIT Sloan
- University of California Berkeley – Haas School of Business
- UCLA Anderson School of Management
- Northwestern University – Kellogg School of Management
- The University of Michigan – Ross School of Business
- Harvard Business School
- USC Marshall
- UT Austin McCombs
- Georgia Tech Scheller
Top Schools for MBA Finance in Europe (including the UK)
- London Business School
- HEC Paris
- IE Business School
- ESADE Business School
- ESSEC Business School
- Imperial College London (Imperial Business School)
- Cambridge Judge
- IMD Switzerland
- SDA Bocconi
- IESE Business School
- Erasmus RSM
- Warwick Business School
- WHU (Otto Beisheim)
Acknowledgement: The article has been co-authored by Parinita Gupta, a Banking professional and Digital Marketer.
Key Sources: Investopedia, MBA Crystal Ball, Careerizma, Coursera Blog.