Finance is one of the most sought after specialization in MBA. It attracts a lot of best brains around the world who later shape the corporate by their decisions and actions based on what they learn in MBA (Finance). Despite the fact that it is the oldest MBA specialization dating back to 19th century in US Universities, it has never lost its shine.
In fact with a globalised and hugely interconnected world based on huge global banking system, MNCs operating throughout the world, increased interest of people for investments and international trade, this sector has been witnessing growth like never before.
So, if you are good with analysis of numbers and want to make impact on daily basis in Business World, may be MBA Finance is right for you.
In MBA Finance, students are taught basics of financial world, which includes, but not limited to accounting, banking, corporate finance, international trade, security analysis, and many other specialized subjects. But, to be an expert in world of Finance, you may need further certifications and many years of corporate experience.
Let us analyse, how you can achieve your dream of becoming an excellent Finance Expert after your MBA:-
By Joining Corporate
A MBA graduate can work in finance department of any company and ensure its financial well being by making financial plans and taking appropriate decisions based on situations around the company and market.
But, a majority of MBA graduates get placed in BFSI Sector (Banking, Financial Services and Insurance). It is a high growth sector in India witnessing a growth rate of average 15% for last 15 years. With liberalization, privatization and entry of global players in Indian Financial Market, this sector has become highly competitive and offers excellent pay packages to its skilled manpower.
An MBA in finance is regarded as highly skilled and specialized course and it opens a huge opportunities around the world for MBA Finance graduates.
Such a graduate may explore further career prospects in following industry based on his interest and skill sets:-
- Asset Management Companiese. Mutual Funds, Pension Funds and Sovereign Funds.
- Financial Advisory and Planning– recommending clients for their financial planning and needs.
- Commercial Banks– These banks constitute for a huge share of Indian Financial Sector and offers excellent career options. With over 25 government banks and 20 private banks in India, one can expect a good rewarding career as a banker.
- Corporate Finance– Financing companies
- Corporate Banking– deals with banking service needs for companies
- Private Equity/Venture Capitalists Firm– investing in new and growing companies
- Investment Banks– These banks are engaged in advising companies over their strategies for corporate restructuring, mergers and acquisitions
- Merchant Banks– these banks raise capital from financial market as per need of clients and ensure smooth funding as per their request.
- Stock Exchanges
- Brokerage Firms– With Indian share market offering excellent returns year on year these companies have huge growth potential and high compensation for right persons.
- Insurance Companies– With entry of over 20 plus private insurance companies apart from about 10 plus government insurance companies, this is another promising industry within finance sector in India.
- Microfinance– Another emerging industry which is attracting a lot of attention recently
- Non Banking Finance Corporation (NBFC) – It includes finance companies like consumer finance, housing finance and others and has witness high growth in last decade and expected to be a high growth industry with Indian Economy set to boom and government’s friendly policies like Housing for All.
- Finance Departments of Various Government and Private Companies
- E-commerce and Start ups
Gaining Deeper Knowledge in Finance
Knowledge has no limitation and so is with Finance. MBA in Finance just makes you familiar of various streams of finance and imparts basics of almost every finance topics. In order to become truly successful in Finance, one needs to gain more and more knowledge and apply the same in his business decisions to ensure growth and profitability of his company.
Following specialized courses/certifications may be considered, depending on one’s interest and decision to make a career in:-
- Actuary– It gives you knowledge of assessing risks and impact of any business decision. They are important to ensure financial security of investments made and assess uncertainty based on probability and other tools.
- Certified Financial Analyst– A CFA is probably world’s most respected and prestigious certification. A CFA charter holder enjoys a rich and rewarding career with huge compensation and works with leading Finance MNCs of the world at any of the financial cities of world. It is very useful for anyone wishing to make a career in fund management, equity research and Investment Banking. One should start CFA early in career as it takes almost 3 years to complete it and not to mention, it is one of the toughest course in finance.
- Certified Financial Planner-If you wish to make a career in wealth management, financial planning and advisory, CFP is the right course for you. In India it is regulated by FPSB India. A CFP can easily land you with job offers from Private Banks, Mutual Funds, Insurance Companies and Brokerage Firms.
- NSE’s NCFM courses– National Stock Exchange offers a variety of certification courses for people who want to make a career in capital markets. These are basically distance courses where you read the books provided by NSE and appear for exam. Obtaining these certifications, not only add to your resume but helps making you an expert in capital markets.
- NISM courses– National Institute of Securities Market offers a variety of certification courses like NSE’s NCFM for graduates which can help you make a better career. Certification in Security Analysis, Certification in Mutual Fund and others can help you become an Independent Financial Advisor.