If you are keen to pursue a career in Finance, you should be considering enrolling for a master’s in business administration course from a top-notch university. With a growing and lucrative MBA in Finance future scope, it is the best career to pursue with the right skill sets. If you are good with numbers and are analytical and have strong logical reasoning capabilities, this is the right career option.
Scope of MBA in Finance
If you track the history of the evolution of the subject, you would be surprised to know that towards the end of the 19th century, Finance and Economics were the same. Over time, the domain evolved, and a separate area called ‘Finance’ came up. Till about a few years back, Finance and Banking were thought to be correlated, but today the scope of finance has broadened.
Today, finance is an integral part of every economy. This is the age of industrialization and automation. For industries to progress, finance plays a major role. It is also vital to mention here that many industries and companies are majorly facing financial crises. During such challenging times, expert financial managers work out relevant strategies to help organizations improve their financial health and augment their business performance.
You need to know that financial management is the core management functionality in all organizations and across all industrial verticals. It is one domain that, to a great extent, is responsible for driving the growth of the business.
Finance plays a crucial role in every kind of organization; big, small, medium, or micro-level enterprises. While you will initially be working as an executive or entry-level job role, you will get to work in executive and senior roles over time. After spending considerable time in the finance domain, you can also choose to work in an analytical role.
When we talk of Finance, MBA with a specialization in this domain is considered one of the most effective programs for helping interested students discover the domain’s potential and use it to further their career. This is the course where you learn good management skills and use their innovative ideas to help strengthen the economy.
Must Read: MBA Salary in India
Why is an MBA in Finance a Good Career Option?
When you enrol for MBA Finance, you get to learn specific financial planning skills, financial decision-making, budgeting, costing, investment management, international finance, working capital management, and corporate finance. You can then choose to enter the corporate sector, real estate, investment, banking, and all other industrial segments.
MBA in Finance Future Scope Pertains to
– Gaining extensive financial knowledge and sharpening their business acumen.
– You ready yourself for a career in finance that is usually a high-paying career option. This is one domain that offers excellent job opportunities to the interested candidates.
– You learn the art to help organizations protect their assets.
– You gain knowledge about managerial decision-making from the perspective of profitability, risks, and other financial aspects.
– Helps you understand the entire gamut of money management that is so critical for effective financial management.
Topics Covered Within Finance
Different institutes cover topics about the following:
- Business Communication
- Business Statistics
- Organizational Behavior
- Emerging Technology: Impact on the Future of Business
- The Firm and The Consumer
- Operations Management
- Analysis of Financial Management
- Artificial Intelligence in Business
- Consumer Behavior
- Strategic Management
- Financial Management and Valuation
- Digital Finance
- People Management
- Global Economics
- Principles of Financial Regulation
- Financial Information Systems
- Marketing Management
- Design Thinking
- Data Protection and Competition
- Financial Criminology
- Business, society & Government
- Entrepreneurship & New Venture Creation
- Behavioural Finance
- Data Visualization in Finance
- International Business & Finance
- Managing FinTech Ecosystems
- Blockchain & Cryptocurrency
- Business Ethics & Corporate Social Responsibility
- Business Bankruptcy
- Financial Statement Analysis
- Business income Taxation
- Business Simulation
- Digital Fraud & Risk Analytics
- Creating Financial Stability & Resilience
- Stock Market Analysis
- Different financial instruments with Futures and options
- Market trading and volatility
- Investment Banking
Career Options in Finance
Once you have completed the course, you can pursue the following career options:
– Investment Banker
In this, the corporate financial manager finds the feasibility of acquisitions & mergers, making investments, securing privatization, trading in financial products.
– Accounting Manager
– Financial Analyst
– Credit Manager
– Insurance and Risk Managers
– Corporate Controllers
– Treasurers – in this role, you are responsible for risk management, investments, and corporate liquidity.
– Finance Officers
– Chief Financial Officer (CFO)
– Cash Managers
– Financial Consultant
– Asset Manager – in this role, you venture to determine the viability of assets acquisition.
– Credit Risk Manager
– Retail Banker
– Commercial Banker
– Investment Portfolio Manager
– Credit Managers – these managers are responsible for reducing the credit risks of their organizations.
– Researchers & Professors
– Corporate Bankers – advising personal and corporate customers on their financial requirements and indulging in financial planning.
Also Read: How to do Global MBA in India?
Personal Aptitude and Skill Sets Required
- Quantitative skills
- Happy to work with numbers.
- Love subjects like Statistics and Mathematics.
- Analyzing data and interpreting them to conclude.
- Understanding fundamental principles of accounting like making balance sheets, and finance.
- Motivated individuals
- Team players who believe in collaborative and coordination efforts.
- Multi-tasking capabilities.
- Report making
- Have a basic understanding of the market trends
- Have an interest in making long-term plans.
- Have the capability to perform under pressure.
After you specialize in Financial Management, you can look forward to being employed by top recruiters’ like:
– Lehman Brothers
– Deutsche Bank
– JP Morgan
– Boston Consulting Group
– Merrill Lynch
– Goldman Sachs
– Morgan Stanley
– MASTERCARD and many other multinational companies.
The future scope of MBA in Finance is, beyond any doubt, extremely rewarding. As people who have completed their financial management course, you can look at first getting trained on-the-job during the initial years. But, as you gain experience or if you are someone who has decided to enrol for the course when employed, you have very profitable prospects of earning handsome salaries and doing well in life.
This is one domain that gets the highest remunerations in the industry. While in the initial years, you can look to earn about INR 3 to 4 lakh annually in India, as you move forward and with the increasing number of years of experience, you have a really good opportunity to increase your earnings substantially.
There is a vast mba in finance future scope. If you are placed in a developed country like the US, you can expect to earn more, because as per the US Bureau of Labor Statistics, this is one segment that has the highest growth rate (more than average growth).
To summarize, you need to know that if you have followed your heart and completed a course on MBA in Finance and have invested substantially, you can expect a good return on your investment. As you move from the junior level to mid and senior-level management, your salary and job profile are going to be rewarding.
If you decide to do the course today, you have a really good opportunity to grow in life because the need for financial managers is going to increase in the coming years.
upGrad works with 300 plus hiring partners at the moment – as a result, we are effectively able to offer candidates worthwhile placement after completing their MBA. If you are interested to do a Global MBA in Finance, upGrad provides an MBA in Finance from a top-UK school, Liverpool Business School.