MBA in Finance Career Scope: Jobs, Placements, Salary 2023, Top Recruiters

Master of Business Administration abbreviated as MBA primarily focuses on managing businesses effectively. Business-oriented MBA programs in Finance are subsets of the larger MBA entailments revolving around managing and controlling investments, financial resources, and costs. 

Applicants to this post-graduate degree program will be prepared for a wide range of financial management roles. Controlling and managing financial resources is one of the most common specialisations in Finance. An MBA concentration in Finance incorporates a series of Finance-related structures and metaphors that spans over two years. For students who are interested in working in the Financial sector, a degree in MBA Finance is the key to opening many career-oriented doors. Corporate Accounting, Investment Banking, Management, and Private Equity are just a few careers that can begin in this way. 

Benjamin Franklin in the context of MBA Finance quoted “An investment in Financial knowledge pays the best interest”.

Why choose MBA in Finance?

According to a report by Bloomberg Magazine, the IIMs are among the world's most selective schools. Therefore, enrolling in these prestigious colleges can shape one’s career landscape in the right direction. The report by Simplilearn states that out of more than 14 specialisations in MBA, Finance as a subset outshines all of them and sets itself up to the fourth position. Hence, it also comes under the top 5 MBA specialisations. Being extremely inclusive and handy in nature, Finance as a sub-field becomes one of the highest and most lucrative paying ones.

While ensuring development and change both holistically and empirically, Finance provides its persuaders with an opportunity to explore different sectors and zones while simultaneously a chance to explore various job roles as well. One cannot overlook the fact that the Finance sector in India expands at about 8.5% annually by also committing to job security and a better future.

Since we know that the Finance sector is directly proportional to the Economy of the country, MBA in Finance can never go in vain. More than 94.6% of the stakeholders believe that Financial literacy is of the same importance as any language or Science. Therefore, labeling MBA Finance as an “Evergreen career option” wouldn’t be delinquent. Moreover, only 6.8% of the graduates have specialised in MBA Finance and are unemployed. While the remaining ones are leading a joyful life by earning good numbers.

Top Careers in MBA Finance

The era of globalisation has created a financial environment that curates and produces hills for the creation of large-scale financial transactions. Most of these companies require professionals who are experienced in Finance and know their way around it. In addition, due to the rapid succession and demand for the Financial sector and its direct connection with the upliftment of the world's Economy, Finance-oriented professionals are considered to be like magic potions.

As mentioned above, the financial industry has always been a green sector. Below are some career options you may want to consider if you have an MBA in Finance:

Investment banker

A position like this is one of the most sought-after jobs after earning a master's degree in finance in today's business environment. There has been a boom in investment banking and many MBA graduates are eager to land a job as an investment banker. Typically, an investment banker assists large companies and government agencies in raising capital on the capital markets. He also provides strategic advice on mergers and acquisitions, as well as overseeing large deals involving substantial sums of money.

Financial Manager

Taking an MBA in finance will prepare you for a lucrative career in financial management. An organisation’s monetary health is in the hands of its financial managers. They are responsible for maintaining the organisation’s bank account, preparing financial statements, and doing long-term account-oriented paperwork.

Treasury Manager

In recent years, the position of Treasury manager has grown in popularity among MBA graduates. A Treasury manager oversees the financial activities of a company or organisation, like cash flow and revenue. An organisation’s Treasury Manager plays a crucial role in managing cash and in evaluating fiscal decisions.

Financial Analyst

Following an MBA in Finance, a position as a Financial Analyst is highly sought after. Businesses such as banks, pension funds, and insurance companies hire Financial Analysts. Financial analysts collect data, organise information, analyse past performance, and guide companies and individuals while simultaneously they also predict and forecast the finance trend by fairly making sound investment decisions.

Accounting Manager

The demand for Accounting Managers is expected to grow over the next few years. In your role as an accounting manager, you will be merely responsible for overseeing all financial reporting duties in an organisation. The accounting manager aligns his interest with the Chief Financial Officer (CFO) of the organisation to curate and furnish standards, principles, and procedures while thoroughly supervising the accounts department. Hence, it should come as no surprise that this is one of the most rewarding jobs after getting an MBA in finance.

Bond Broker

A bond broker serves as an anonymous middleman between investors and firms. They play a major role in enhancing Finance-oriented communications between the stakeholders and major firms and organisations.

Scope of MBA Finance in India

As a direct consequence, an MBA in finance is a well-known and popular career option for aspirants worldwide. It establishes the foundation for a secure life. Marketing, public affairs, information technology, education, consulting, and real estate are all industries that must keep track of cash flow, investment data, payment details, and so on. Financial management knowledge can help you land a job in any industry. The premise that finance is a component of all relevant fields remains unchanged. Financial skills are used by every entity, from the most entry-level jobs to the leading data strategist agencies. The financial industry is critical not only at the national level but also at the global and international levels.

Agriculture

Finance is inevitably also related to one of the most required sectors i.e. the Agricultural sector. Good and resourceful financial planning can bring forth wonders in the world of Agriculture. It revolves around investment in irrigation systems, storage facilities, and working capital.

Education

Finance and Education go hand in hand. Availability of Financial knowledge and gains in the world of Academia will not only boost the main idea of providing quality education and increasing the standards of education for the students but also will glorify other aspects concerning Education like the infrastructure and extracurricular activities.

Economics

The study of financial economics analyses how resources are used and distributed in markets. Future events must often be factored into financial decisions, whether they pertain to individual stocks, portfolios, or the market as a whole.

Healthcare

Financing health care involves generating, allocating, and using financial resources. It is imperative to have a comprehensive understanding of the country's health financing system so that you can recognize the current funding available for healthcare and how to raise more funds so that they can be allocated to ensure equity and quality healthcare for everyone. Aside from improving access to health services, it can also reduce simultaneous expenditures that lead to ill-being and impoverishment.

Marketing

For a company to be successful, it is essential that marketing and finance work together to make decisions. An integral part of marketing is the measurement and analysis of the effects of marketing decisions and operations.

Corporate Finance

Corporate Finance deals with the financial management of a particular organisation. The corporate finance department is responsible for short and long-term financial planning while increasing shareholders’ value and implementing financial strategies. Everything from capital investment solutions to investment banking services is handled by this group.

Average Salary of MBA Finance Graduates in India

Individuals who hold an MBA in Finance earn significantly more money than those with other MBA majors. Perhaps one of the business's handsomely paid segments is reported to be Finance. You can achieve the combination of both, a solid position with a decent income. The high price for an MBA is merited by the competence it provides and the demand for workers with the expertise essential to keep businesses operating offers sustainability. When you amalgamate everything with sufficient credentials, pay packages soar.

The below table highlights a few prominent profiles in MBA Finance with their average salary.

Top Recruiters for MBA Finance

Finance being multi-sectoral in nature accumulates its graduates in various sectors ranging from the banking sector to a well-established corporate firm. Students with a degree in MBA Finance are considered and venerated by many giant recruiters which is evident in their willingness to recruit students with a degree in MBA Finance with open-heartedness.

The below-mentioned is a list of a few prominent recruiters who have hired graduates from MBA Finance.

• Goldman Sachs
• HDFC
• Capgemini Consulting
• Infosys
• Accenture
• Merrill Lynch
• Barclays
• ICICI Bank
• IBM
• State Bank of India
• KPMG
• Amazon
• Google
• Deutsche Bank
• JP Morgan

Top Placement Colleges for MBA Finance in India

Scholastically, getting into a decent university is parallel to recognising the recruitment records, companies, and remunerations offered by a particular college during their placements drive. Getting into a good School/University offering specialisation in MBA Finance will not only help you attract great monetary perspectives but also a wide and colourful range of companies to choose from amidst their recruitment drives. Before enrolling in a particular college, one should without a doubt prioritise its placement record with alliances to the academia, especially for an evergreen and multi-sectoral course like Finance.

Presently there are around 1600 institutions offering MBA in Finance. Out of these 12% are government owned while the rest are in the hands of private owners.

The below-mentioned table recognises a few important government institutions offering MBA in Finance.

 The below-mentioned table mentions a few prominent private institutions offering MBA in Finance:

How to get a good job after MBA in Finance?

• Gaining an understanding of financial trends and monetary aspects will allow an individual to land a successful position in a successful company. 
• The resume you create as an MBA Finance degree holder should reflect all your qualities, strengths, weaknesses, and knowledge. In order to make money, one must have a thorough understanding of the economy, money, and everything from a monetary perspective.
  
  
• As part of the job search process, it is also crucial to build a network. It is necessary for an MBA degree holder in Finance to collaborate with Economists, Researchers, Analysts, etc.

• In order to gain real-time exposure to the business world, MBA Finance students should participate in surveys and projects. Extracting a good, lucrative job is a result of this.

• To open doors to lucrative jobs, you must keep up with changing economic and monetary trends to keep your skills updated and in line with technological advancements.
  
  
• When entering a particular field, one should not burden themselves with knowledge outside their area of expertise. Instead, one should take into account their own interests, aptitudes, intellect, and the vastness of knowledge.

 Top Indian cities to get lucrative job offers after MBA Finance

MBA in Finance as a career path is venerated by major modern and metropolitan cities owing to the monetary advantages it brings with it. Being multi-dimensional and sectoral in nature, MBA Finance is popular and seeks lucrative job offers in the following below-mentioned cities.

Life after MBA Finance

Dave Ramsey quotes “I believe through knowledge and discipline; Financial peace is possible for all of us.” MBA in Finance has proved to dismiss all the boundaries and touch the sky with its awarding benefits.

Reports and testimonials of many Finance graduates are suggestive of the fact that they are more than glad for choosing “Finance” as a specialisation under an MBA.

Many interviews prove that MBA Finance for its graduates has not only ensured holistic development and monetary empowerment but also a wide range of horizons like Business Finance, Risk Management, and Investment banking to learn and adapt from while enhancing the lifesaving skills that contribute to the highly fruitful management of personal funds.