MBA is one of the most coveted degrees in the world today. This is because it helps people in upskilling, and it even makes them more employable. MBA in finance is one such degree that has emerged as one of the most popular degrees in the MBA universe. There are several reasons to do an MBA in finance, out of which one of the top reasons is the MBA in finance salary.
You get some of the highest paid jobs after MBA in finance, as there is a massive demand for investment and banking specialists in the commercial sector. Students completing their MBA in finance gather all the skills and learn all the techniques they would need in the world of finance. If you want a fair idea of MBA banking and finance salary, you are at the right place.
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Let’s try to understand why MBA in finance salary tends to be higher than what any other finance degree can offer.
Advantages of Enrolling in an MBA in Finance Course
While MBA in Finance is an exciting course, it also gives a fulfilling career. The course touches upon all the aspects of finance and prepares you to take on different finance-related jobs. The average MBA banking and finance salary in India stands at INR 7,74,000 annually. However, the salary depends on the skills you acquire and the institute where you did your MBA.
There are several advantages of taking up an MBA in Finance course. All these advantages are explained below in detail.
There is a high demand for people with a degree in MBA in Finance. People across industries need skilled professionals with financial management know-how to assist organisations with their financial decisions. The best thing about working in the finance industry is that it is highly moderated. Hence, your job will be secure.
Great Pay Packages
People with an MBA in finance degree earn quite well. Investment banking, credit risk analysis, etc., are a few of the highest paid jobs after MBA in finance. As per Glassdoor, a Finance Manager earns an average basic salary of INR 13,00,000 annually, and a Senior Finance Manager earns INR 19,00,000 annually, making an MBA in finance salary one of the most lucrative in the industry.
Finance is a vast field. Hence, it allows you to experiment with different roles in both the public and private sectors. You can get into investment banking, risk analysis, budgeting, banking, and other related fields. Even in these fields, there are multiple roles that you can take up.
A two-year MBA in Finance program covers various subjects that foster analytical and critical thinking and broaden students’ knowledge of marketing, statistics, and leadership techniques. Stock exchange analysis, business finance, risk management, investment banking, and finance management are typically covered in the curriculum. Each of these topics has the propensity to widen the scope of knowledge.
Platform to Network
When you enrol in an MBA in Finance program, you can meet people from diverse fields. The course demands you to complete several tasks in teams. It also allows you to collaborate with different people and learn from their experiences.
While a company can do without different departments that exist, it cannot do without the finance department. With the finance industry in India growing at an 8.5 per cent rate annually, the domain expects consistent job creation in the market. Hence, all the jobs in the finance sector are secure compared to the other sectors.
Now that we know the advantages of doing an MBA in Finance, let’s explore MBA in finance salary for different roles.
MBA in Finance Career Paths: Salaries
The salary of a person with an MBA in Finance degree is completely dependent on the domain of work and the sub-industry. There are different finance verticals; some are highly paid, and some get average pay.
Let’s look at some popular roles you can land after MBA in finance, along with their salaries in India.
Chief Risk Officer
Chief Risk Officer is one of the most sought-after roles by people with an MBA in finance. Some companies might open this position for entry-level graduates. However, most companies prefer hiring someone with a significant prior experience in the finance domain. The primary role of a CRO is to identify and evaluate internal and external risks to the company and then eliminate them by devising different strategies.
The average salary of a Chief Risk Officer is INR 55 Lakhs.
The role of a financial actuary is unheard of but is coveted by people who know the nuances of finance. Professionals take up the role with a strong hold on finance and other subjects like statistics, economics, etc. They use different statistical models to analyse massive chunks of data and drive insights from them. The demand for a financial actuary is relatively high in the insurance industry. They are quite well-versed in predicting risks and calculating the number of insurance premiums and the returns on different kinds of investments.
The average salary of a financial actuary is INR 11 Lakhs.
Investment banking is one of the most popular industries for people with an MBA in finance. Investment bankers have several roles to play. They work with an investment bank, raise capital, work on mergers and acquisitions, and provide different equity services. You need to have an analytical bent of mind to take up the role of an investment banker. You must also know how to deal with pressure as these roles come with short deadlines and work pressure.
The average salary of an investment banker is INR 12 Lakhs.
Financial analysts are found in every company. This mid-level role is offered to people who complete their MBA in finance and hold significant experience in the realm. The role of financial analysts is to analyse substantial amounts of data and then create investment or financing strategies from data-driven insights. They also keep a tab on the market and predict any market changes that may happen soon. Also, they contribute to creating different financial models for the company and the clients.
The average salary of a financial analyst is INR 5.2 Lakhs.
Hedge Fund Manager
A hedge fund manager is a rewarding role in the field of finance. You can have a great career graph if you start your career as a hedge fund manager or associate. They keep a tab on the capital market and recommend investing strategies to investors with high net worth. They work towards maximising the wealth of their clients. Apart from an MBA degree, companies also look for a CFA degree for this role.
The average salary of a hedge fund manager is INR 6 Lakhs.
Private Equity Associate
If you’re seeking a lucrative role after finishing your MBA in finance, you should enter the world of private equity. The role of a private equity associate is quite rewarding and is currently in great demand. A private equity associate manages a deal end to end. Along with their basic responsibility, they monitor financial data to look for relevant investment opportunities for the company or their clients. The salary of a private equity associate depends on the size of the firm they are a part of.
The average salary of a private equity associate is INR 8.05 Lakhs.
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Compliances are a very important part of finance, and every company needs a few resources who take care of all the compliances that surround the company. You can start your career as a compliance analyst because the role offers much to learn. The job involves checking all the activities and if they align with the guidelines different government bodies decide. Also, a compliance officer examines different data points and processes them to check if they are healthy for the company’s financial infrastructure.
The average salary of a compliance analyst is INR 6.07 Lakhs.
Top MBA Skills
Personal Financial Advisor
When you take up the role of a personal financial advisor, you can either do it with the association of a company or by scouting clients on your own. Personal financial advisors guide their individual clients or organisations on personalised financial bits of advice curated to suit their unique preferences. Their services include activities such as budget aid, taxation, investment preparation, along with retirement planning. A financial advisor must be good with budgeting and understand accounting fairly.
The average salary of a personal financial advisor is INR 5 Lakhs.
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