Why studying MBA in finance is a remunerative choice in career?
Does the world of maths excite you? Do you have a keen eye for figures? Does interpreting graphs come naturally to you? Do you want to make a career out of your love for accounts, data, or simply money?
If the answer is yes to all these questions, then an MBA in financial management is what can easily help you with your dream career.
This is one specialization of MBA that never goes out of demand and the opportunities available after completing this course are some of the best jobs that are offered to MBA graduates. Most top B-schools like IIM and IIFT have their own specially designed finance programs. You can also take up an MBA in Finance from any top MBA college in Kolkata, Delhi, or any other major city in the country.
Listed below are six reasons that tell you how an MBA in Financial Management can prove to be a lucrative career choice-
You Have the Option to Work Literally Everywhere– If the word Finance only reminds you of banks and stock markets, then please understand this basic fact that there is no organization that does not need help with the management of its financial resources. An MBA in Financial Management will open up the best opportunities possible in any industry, be it consulting, healthcare, media, sports or retail. The scope of an MBA in Finance is limitless and therefore on should not just see it as being limited to the banking sector.
The Finance Sector is Rapidly Evolving- The finance industry has always embraced the latest technologies and made them its own. Whether it was introducing the Credit Card in the 1950s or the ATMs in the 1960s, the financial industry has always kept pace with the changing times.
In recent years, the finance industry has incorporated technologies like Blockchain, Artificial Intelligence, Data Science in almost every area of finance- be it bank transactions, loans, credit scoring, or stock trading.
Fintech or Financial Technology has seen the coming up of several big names in the business that have revolutionized the industry by transforming student loan financing, introducing cryptocurrencies, changing the payment technology, and other major changes seen in recent times. Some of these names are- Chime, Plaid, Coinbase, So Fi, Stripe, Ripple, and Robinhood.
With such rapid advancements every second, the scope of employment in these sectors will not just be high but be of great quality as well.
Explore A Diversity of Options- Like mentioned before, getting an MBA in Financial Management doesn’t always mean that you will have to work in a bank. You can get a multitude of options to choose from, each of which could lead to a flourishing career. Here are some industries/sectors you could work in after completing your MBA. They are-
- Investment Services
- Brokerage Firms
- Credit Unions and Private Banks
- Insurance Companies
- Financial Planning Services
- Corporate Management
- Investment Banks
- Commercial Banks
- International Financial Management
- Private Organizations (Personal Financial Planning)
Lucrative Job Opportunities- A managerial degree in Finance can make you eligible for some of the most pivotal positions in the financial sector that otherwise you would not have been eligible for at the start of your career. These jobs are highly paid and come with tonnes of benefits. Some of them are-
- Accounting Manager
- Budget Analyst
- Cash Manager
- Finance Officer & Treasurer
- Investing Sales Traders & Associates
- Corporate Controller
- Credit Managers & Specialists
- Investment Bankers
- Financial Analyst
- Insurance & Risk Manager
- Financial Advisor
- Securities, Commodities and Financial Services Agent
- Financial Manager
- Financial Research Analyst
- Portfolio Manager
A Business Degree Gives You an Edge Over Finance Graduates- If given an option who would you hire between the following candidates-
A candidate with just a degree in Finance or a candidate with a managerial degree with a specialisation in Finance?
The latter, right? It’s a no-brainer choice!
MBA graduates come with great management skills combined with their understanding of the latest trends in finance. Their proficiency in research and data analysis combined with strong business acumen makes them an unmatched choice for all the important positions in an organization.
The Jobs Are Well Paid and Hassle-Free- Unlike other specialisations of MBA such as marketing or supply chain logistics, where you have to move frequently outside your office, jobs in the finance sector require you to be at one place working peacefully within the four walls of your office.
It has been seen that people in other sectors frequently change jobs for better opportunities. However, in the finance sector, one can easily reach the highest position by working within the same company without the hassle of restarting again and again.
Graduates of MBA in Finance start with high salaries and just after a year at the organization, start seeing rapid growth. Getting a raise in salary depends entirely on your performance and you don’t have to waste your energy in socializing with others at the office all the time!