An MBA degree is a highly sought-after course in India for its capability to kickstart one’s career in the corporate world. And if making a career in the finance sector is the aim, nothing could beat an MBA in Finance. This MBA programme offers a specialization in Finance to impart in-depth knowledge about the subject. Some of the core areas that are covered include Financial Management, Capital Management, Taxation, Accounts, Economics, and so on. A detailed knowledge of these areas can land one job in banking, finance, and related sectors. This brings us to the question, “What are the top career options for a finance professional with an MBA degree?” Let’s find out.
Scope of MBA Finance in 2024 & Beyond
Before embarking on the MBA journey with a specialization in Finance, you should have a clear knowledge of the scopes this subject offers in terms of career options. The good news is that the Banking, Financial Services, and Insurance (BSFI) sector is growing and it is one of those sectors that are going to remain untouched by AI, at least for the next few years. This is the core sector (although not the only one) where a finance professional can get lucrative opportunities.
With this in mind, here is a list of top career options available for an MBA in Finance graduate.
As the name implies, a financial analyst is someone who studies various financial components. The expert is primarily responsible for determining the performance and potential of financial assets such as stocks, bonds, and other securities. Financial analysts frequently work for financial institutions, investment companies, enterprises, government organizations, and even as individual consultants.
Skills Required
Expertise in assessing financial statements
Anaptitude for quantitative analysis
Proficiency in working with Excel
Research skill
Good communication
Critical thinking
Observation
Industry knowledge
Average Salary
Rs 6 lakhs
Individuals with an MBA in Finance may find lucrative work prospects in the taxation sector area as well. Tax preparer can be one of the most in-demand jobs in the tax field. The primary tasks of these specialists include aiding individuals, corporations, and organizations in completing and submitting tax returns. Tax preparers might operate alone or as part of an accounting business, tax preparation company, or financial consulting organization.
Skills Required
Knowledge of tax law
Knowledge of government regulations
Expertise in tax preparation software
Critical thinking
Problem-solving skills
Good communication
Average Salary
Rs 4 lakhs
A financial accountant's main task is to develop, document, and report an organization's financial data. Their primary job is to guarantee that the financial records correctly represent the organization's economic operations in line with generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS).
Skills Required
An eye for details
Familiarity with accounting software
Critical thinking skills
Time management skills
Keep up to date with the market trends
Average Salary
Rs 6 lakhs
Financial advisers are responsible for assisting people and businesses in regulating their financial assets. These specialists offer assistance on a variety of financial matters, including investing, risk management, tax preparation, and more. They assist their customers with establishing financial objectives and developing a plan to achieve them.
Skills Required
Accounting knowledge
Analytical skills
Bookkeeping
An eye for detail
Time management
Organization skills
Average Salary
Rs 6.35 lakhs
An investment banker's principal role is to raise capital for companies by underwriting and trading securities. These professionals connect investors with groups in need of funding. Investment bankers can work with all kinds of banks and advise private businesses, as well as the government and its many agencies.
Skills Required
Communication skills
Networking
An eye for detail
Ethical consideration
Adaptability
Time management skills
Average Salary
Rs 18 lakhs
A credit manager's responsibilities often involve overseeing a company's credit regulations, policies, and risk evaluation processes to guarantee prompt payment collection and reduce credit losses.
They usually carry out the following duties:
Credit evaluation
Risk management
Negotiating Loan Rates
Credit reporting, compliance, etc.
Skills Required
Analytical skills
Risk management
Communication skills
Adaptability
Financial analysis
Negotiation
Teamwork
Attention to detail
Average Salary
Rs 7.8 lakhs
A Chief Financial Officer (CFO) is an upper-level executive who oversees a company's accounting operations and strategies. They play a critical role in determining an organization's financial plans and effectively executing them.
Skills Required
Financial analysis
Strategizing skills
Key knowledge of industry trends
Good verbal and written communication skills
Leadership skills
Treasury management
Average Salary
Rs 53 lakhs
Top MBA Colleges in India For an MBA in Finance
If you want to enroll in an MBA in Finance degree, here are some of the best MBA institutions in India for your consideration:
IIMC
IIMA
IIMB
Globsyn Business School
Symbiosis Institute of Business Management
Jamnalal Bajaj Institute of Management Studies (JBIMS)
IISWBM
Faculty Management Studies(FMS), Delhi
Key Takeaway
So, here are the top 7 career options that an MBA in Finance graduate can opt for. The list is inexhaustible and you can add as many career options as you want. That being stated, a finance professional can get jobs across any sector but BSFI is one of the top among others that offers the most lucrative finance jobs. To wrap up, we would like to state that to reap the most benefit of an MBA degree it is best to pursue it from a reputed and affiliated business school.
Frequently Asked Questions (FAQs)
Is an MBA in Finance a good degree?
Yes, an MBA in Finance is a good degree if you want to pursue a career in the field of finance. There are huge opportunities for lucrative jobs for finance graduates in India and overseas.
Can I get jobs in the international market after graduating with finance?
What is the average salary of an MBA in Finance student in India?
What are the top MBA colleges in Kolkata that offer a specialization in Finance?
Can an engineering student pursue an MBA in Finance?
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