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