Why MBA (Banking and Financial Services)?

MBA, Master of Business Administration, is one of the glamourous degrees which is valued all over the word. Traditionally people choose to do an MBA with common subjects like marketing or finance. Like most of the fields in the world, this trend is also changing. Industry or sector specific degrees are preferred by organizations.

The top sector specific MBA degrees are:

  • MBA in Banking and Finance
  • MBA in Healthcare
  • MBA in Luxury Management
  • MBA in Non-profit Management
  • MBA in Entrepreneurship
  • MBA in Liberal Arts

Out of these, MBA in Banking and Finance and Healthcare are offered by more than 100 universities in the world.

It would be important to understand some facts before we understand the MBA, Banking and Finance degree. (Source : https://assets.kpmg/content/dam/kpmg/pdf/2014/06/KPMG_Taking_the_India_story_forward.pdf)

  • The Banking sector comprises nearly 90 percent of country’s total financial services with the potential to become the fifth largest banking industry in the world by 2020 and the third largest by 2025, according to KPMG-CII report.
  • The Indian Banking system consists of 27 public sector banks, 20 private sector banks, 42 foreign banks, along with 61 Regional Rural Banks (RRBs) and more than 90,000 credit cooperatives, besides a handful of payment banks.
  • The sector’s assets reached USD 1.8 trillion in FY14 from USD 1.8 trillion in FY14 from USD 1.3 trillion in FY10, with 70 percent of it being accounted for by the public sector.
  • Further, ever since the Reserve Bank of India (RBI) approved companies to commence their payment banking operations in 2015, India has witnessed four complete functioning payment banks, including Airtel Payment Bank, India Post Payments Bank Ltd, Paytm Payments Bank Ltd, and Fino Payments Bank. Post the RBI approvals, it has brought yet another revolution after the huge expansion of core banking sector into rural areas.

The facts clearly demonstrate that the sector is vast enough to offer career opportunities to thousands. Let’s look at some key career options:

MBA in Banking and Finance: Career Prospects

There are lots of career opportunities in the banking and finance field.

In the 21st century, with an open economy, the Banking and Finance sector is becoming one of the most popular career choices by students in India. Unlike last decade, now there are multiple types of opportunities available in India as well as in foreign countries. These professionals can also seek employment in various parallel sectors such as in market research, budget planning, public accounting firms, consultancies,etc.

Some of the typical positions graduates may work as are:

  • Accounts Manager
  • Marketing Manager
  • Executive Assistant
  • Marketing Analyst
  • Business Analyst
  • Finance Manager
  • Cashier
  • Equity Research Analyst
  • Investment Banker
  • Corporate Analyst
JOB POSITION JOB DESCRIPTION AVERAGE ANNUAL SALARY IN INR
Financial Manager Financial Managers are responsible for reviewing financial reports, monitoring accounts, maintaining reports and preparing activity reports and financial forecasts. They also investigate ways to improve profitability and analyze markets for business opportunities, they are expansion, mergers or acquisitions. INR 9 to 10 Lacs
Accounts Assistant Accounts Assistants are responsible for providing administrative support to accountants, they undertake clerical tasks such as typing, filing, making phone calls, they handle mail and basic bookkeeping. They help the manager and they may also deal with customers external agencies. INR 1 to 3 Lacs
Investment Assistant Investment Assistants are responsible for providing stockbrokers, managers and stock market traders with financial information, banking information and recommendations derived from global investment data. INR 5 to 6 Lacs
Market Analyst Market Analysts assesses a company's financial records in order to determine whether a business is adhering to federal laws, achieving profitability, and maintaining workplace efficiency. They also monitor a company's asset ledgers, budget, and performance objectives. INR 5 to 6 Lacs
Business Analyst Business Analysts are responsible for teaching requirements management one of the core skills of business analysts. They may also develop technical solutions to problems, to advance a company's sales efforts, they begin with defining, they analyzing and documenting requirements, eliciting requirements, and requirements organization. INR 5 to 6 Lacs

Naturally, the sector prefers people who come with domain knowledge and contribute to the growth.

Further Study: Candidates who would like to study a Doctorate course in Banking and Finance can further go for further studies. After completing this course, graduates may get high positions and lead a high career.

Why does sector specific MBA (MBA_ BFS) has cutting edge advantage over regular MBA?

Let’s take an example of Medical Sector. A doctor can always choose to do masters in General Medicine. A couple of decades ago, this branch was very high in demand. But with time, the demand and need for specialists went on increasing and in today’s date the most of the doctors are choosing specialized verticals.

Banking and Finance vertical are going have a need of domain experts who can handle the challenging times more effectively.

- Gandhali Sewak

AVP, Learning Practice

Green Pearl Education