Postgraduate Diploma in Finance Management (PGDFM) - Careers, Salary, Jobs, Scope
Post Graduate Diploma in Finance Management: Brief Summary
| Course Name | Postgraduate Diploma in Finance Management |
| Also known as | PGDFM |
| Duration | 2 years |
| Level -Degree/Diploma | Diploma |
| Mode | Full Time/Part-time |
| Eligibility | Graduation with at least 45-50% |
| Expected fee | Rs 1,50,000- Rs 12,00,000 P.A |
| Average Starting Salary | Rs 37,500 p.m |
| Tests Accepted | CAT/CMAT/MAT/GMAT/ATMA/IRMASAT |
| Top recruiting companies | Big India Farms, IndiaMart, Aibono, Ministry of Agriculture and Farmers’ Welfare, Agrivi, AFC India |
Why Post Graduate Diploma in Finance Management (PGDFM)?
Post graduate diploma in financial management (PGDFM) is a diploma course of management with critical subjects such as working capital management, international finance and mergers, and acquisition among them.
The course provides a vast knowledge in analyzing the costs of the firm, maintenance of effective balance sheet and provides knowledge in national and international financial concepts and strategies. The program focuses on developing financial management skills required by Industry.
The PGDM course in Finance is generally of 1-2 year(s) depending upon the college/institution from where it is done. The average fee package of reputed B-schools starts from Rs 5 Lakhs and above.
Top B-Schools in India offering PGDFM are-
- P Jain Institute of management and research, Mumbai
- KJ Somaiya Institute of management studies and research, Mumbai
- Lal Bahadur Shastri Institute of Management, Delhi
- Xavier Institute of Social services, Ranchi
- International School of Business and Media, Pune
PGDM (Finance) is considered equivalent to MBA (Masters of Business administration) in Finance; However, PGDM is offered by Autonomous or private institution whereas MBA can only be offered by Universities or Government Colleges.
Job and Career Opportunities PGDFM
Finance is the backbone of any business and students who do their specialization in finance gets a lot of opportunities in the industry. With the rapid increment of privatization more and, more companies have entered the market which has increased the need for students who have studied finance management. On successful completion of the course, a candidate is eligible for different career aspects.
The average package or the salary of PGDM finance is from one of the highly paid sectors of the country. On an average, a financial manager can make Rs 3-4 lakhs per year or it can be even more depending upon the work experience, qualifications, recruiters, location of the job etc.
Post Graduate Diploma in Finance Management: Salary
The salary for a fresher in this field ranges from Rs 30,000-1.5 Lakhs per month. The package is subjective to job profile, company and passing institute. Finance has always been a lucrative field and the salary scale rises exponentially with the candidates’ experience.
PGDM in finance attracts very good salary from the industry, some of the jobs along with the salary offered are mentioned below-
| Job profile | Job description | Average salary(INR)* |
| Bank Officer | Responsible for all the task related to financial services within the bank | 3 to 5 lakhs |
| Bank manager | This is high post in banking field. Managers are responsible for assignment of work and manage all the financial work. | 6 to 7 lakhs |
| Accountant | Records all the financial details related to expenses, income and other transactions of a company | 6 to 7 lakhs |
| Controller | He is responsible to control all the finances of the company or organization | 7 to 9 lakhs |
| Financial manager | The in charge of all financial transaction | 7 to 12 lakhs |
*The above-mentioned salaries are subject to change varying from company to company.
Recruiters
Some of the top recruiters of PGDM finance are as follows-
- Goldman Sachs
- Morgan Stanley
- Merrill Lynch
- Bain and company
- Boston Consulting companies
- Lehman Brothers
- JP Morgan
- Barclays
- Deutsche Bank
- Mckinsey
Recruiting Sectors
Below is a list of sectors where PGDFM graduates can work in-
- Money management: This kind of job involves buying, selling and carry corporate bonds, investments etc. some of the common jobs are: Portfolio manager, Mutual fund analyst and hedge fund traders.
- Insurance: Insurance sector provides a lot of opportunities for finance students. Estimating the insurance of companies assets etc or working as an agent of any insurance company are some common jobs for PGDM finance students.
- Asset management
- Corporate banking
- Credit risk management
- Treasury
- Private equity
- Derivative structuring
Requirements for PGDFM
Eligibility
- The candidate should have a graduate degree with a minimum qualifying percentage depending upon the exams he has taken or the college he wishes to take admission
- Some institutes shortlist students based on their score in entrance tests such as CAT, GMAT, XAT, CMAT, etc.
- To get admission in the college the candidate should have minimum marks as per the qualifying cutoff of the respective college
Admission Process
Below mentioned is a general admission process for PGDFM course followed by most of the B-schools-
- Candidates having completed their under graduation of three or four years can fill various management entrance tests which is different for different colleges
- After filling of the form, the candidate is required to clear the entrance exam
- Various colleges based on the number of students who have appeared in the entrance exam release their cutoff for different categories and if the candidate’s score is above the cutoff, he/she can appear for admission’s further proceedings
- After selection of students from written exams, most of the institution conducts various kinds of institutional exams of various kind of skills such as GD, Written essay writing test followed by personal interview
- Finally, all the candidates who clear all these procedures for any respective institution gets a call from the college
Syllabus and course structure:
Generally the course is of two years divided into four semesters.
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There are many colleges in India offering PGDM in finance, some of which have a very good reputation in the market and are considered as top colleges of their category, these colleges are mentioned below along with their fee, average salary, eligibility and their mode of admission-
| College | Admission Procedure | Eligibility | Placements | Average salary | Fees |
| SPJIMR( S.P Jain Institute of management and research), Mumbai | Online/Offline methods | Bachelor’s Degree or Equivalent (10+2+3) from a recognized University. Exams accepted are CAT,XAT and GMAT | HUL, P&G, Amazon, Axis bank, Boston consulting Group, Tata administrative services etc. | Rs 22.4 lakh per annum | Rs 16,25,00 |
| KJ Somaiya Institute of Management Studies and Research, Mumbai | Online Method | Candidates having completed their three year graduate program in any discipline with minimum of 50% marks from a recognized University. | Google, Infosys, Kotak, Reliance, TATA, Zomato, Deloitte, L&T, Maruti Suzuki, Accenture etc. | Rs 9.4 lakh per annum | Rs 5 lakhs |
| Lal Bahadur Shastri Institute of Management, Delhi | Offline Method | Bachelor’s degree from a recognized University with a minimum of 50% in aggregate. Scores of CAT and GMAT are accepted | Darashaw, Deloitte, ITC, Bain, Marsh India, KPMG, HDFC bank, YES bank, Kotak Mahindra Bank | Rs 8.60 lakh per annum | 14,26,550 |
| Xavier Institute of Social Services, Ranchi | Offline/ Online methods | Bachelor’s degree from a recognized University CMAT and XAT scores are accepted. | HDFC bank, UCO bank, CHolamandalam Group, YES bank etc. | Rs 6.75 lakhs per annum | Rs 5,59,000 (approx.) |
| International School of Business and Media, Pune | Online Method | Bachelor’s degree from a recognized University with a minimum of 50% in aggregate. Exams accepted are CAT/GMAT/XAT/MAT/ATMA. | Deloitte, HDFC bank, Kotak Mahindra bank, Cognizant etc. | Rs 6 lakhs per annum | Rs 8, 90, 000 (approxx.) |
| Loyola Institute of Business Administration, Chennai | Online Method | The candidates should have Bachelor’s Degree or Equivalent and their class 10th and 12th (10+2+3) from a recognized University or board respectively with minimum 60% consistent in all. Exams accepted are CAT AND XAT. | Accenture, Wipro , Dell, Deloitte, Cognizant, Business Consulting, IKYA etc. | Rs 9 lakhs per annum | Rs 11.9 lakhs |
| Symbiosis Centre of Management, Pune | Online Method | Bachelor’s degree from a recognized University with a minimum of 50% in aggregate, candidates of Final year can also apply. Exams accepted IS SNAP. | HDFC,HSBC,ICICI,JP Morgan, Ernst and Young, Bajaj Auto, Maruti Suzuki, Aditya Birla group, Dell, Accenture, Reliance, DLF, Price water house cooper, Jet Airways etc. | Rs 16.3 Lakhs per annum | Rs 11 lakhs |
Apart from these, there are many other reputed Institution which offers the PGDM course in Finance. Some of them are mentioned below-
- XLRI (Xavier School of Management), Jamshedpur
- Institute of Financial Management and Research, Sricity
- Great lakes institute of management, Chennai
- Institute of management technology, Ghaziabad
- Management Development Institute, Gurgaon
Specialization in Finance and its scope:
- This specialization covers all aspect of financial management. It has subjects of studies such as cost accounting, finance management, mergers, acquisition etc. This specialization opens a lot of opportunity for students.
- The course has a lot of scope in present market scenario, after completion of the course the candidate becomes capable for various kinds of jobs in industries like Insurance, mutual funds, loans etc.
- Candidates can initially join as a trainee or finance manager in various companies which will open doors for further promotions and opportunities to go to higher level jobs such as that of a Finance manager and they can rise up to CFO of a company. All of which provides good salary package and other benefits to a person.
