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MBA in Finance: Opening Up New Opportunities

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The world of finance is fascinating to say the least. Things like stock markets, inflation, GDP etc might be tough for the general public to understand but it’s a very interesting field to explore.

With the Indian economy and GDP projected to be one of the fastest growing in the world for the next few years, it couldn’t be a better time to venture into the financial sector.

This is where an MBA in Finance comes in. But first, let us fill you in on the basics of this degree.

What is an MBA in Finance?

An MBA in Finance is a 2 year postgraduate management degree. One of the core branches in management, it is also very popular with students.

An MBA in Finance helps you understand and learn skills like management, financial planning, pricing and much more.

MBA in Finance Eligibility

While the specifics might differ in individual colleges, the overall basic criteria is as follows-

  • You need to be a graduate.
  • You need to have 50% aggregate marks minimum during college. (For SC/ST it’s a little less.)
  • Final year graduation students are also eligible to apply if they complete their degree within the specified timeline.
  • Applicants must appear in any MBA entrance exams like CAT, MAT, XAT, state entrance exams etc.

Skills Required For an MBA in Finance

Apart from the managerial and soft skills such as leadership, teamwork, communication skills and time management, other skills which are required to be successful in an MBA in Finance are-

  • Quantitative skills
  • Analytical ability
  • Understanding of financial principles
  • Multitasking

Scope of an MBA in Finance

The pick up of the economy post-pandemic along with the rise of fintech firms has meant there is no dearth of opportunities in the market for MBA in Finance grads.

Every company or organisation needs a finance manager who can sort out any tax issues and comply with govt policies in addition to the usual budgetary work.

The current environment is perfect to step foot into this field and an MBA in Finance is the way to do that.

Job Opportunities after an MBA in Finance

As an MBA in Finance grad, the following roles are available to you-

  • Financial Analyst– Analysing data and financials in order to help make better decisions.
  • Accounting Manager– Establishing efficient accounting practices and policies.
  • Finance Manager– Maintaining the financial health of the company and guiding investments and future plans.
  • Business Analyst– Helping improve the product and services by assessing and documenting domains.
  • Bank Manager– Responsible for the smooth functioning of the specific branch.

An Alternative Choice

PGDM in Finance is a solid alternative to an MBA in Finance. PGDM stands for Post Graduate Diploma in Management.

Even though a PGDM in Finance is very similar to an MBA in Finance, there are some differences-

  • PGDM is a diploma not a degree
  • The approving authority for PGDM is UGC whereas for MBA it’s AICTE
  • A PGDM focuses more on the practical aspects whereas an MBA is more theoretical

In spite of these differences, a PGDM in Finance and an MBA in Finance are both equal in terms of recognition and value. Recruiters don’t differentiate between the two and your job prospects will remain the same no matter what you opt for.

Conclusion

An MBA in Finance and a PGDM in Finance are both excellent choices to advance your career. At the end of the day, no matter what we say, the final decision comes down to you. You should consider all the points and factors to arrive at an informed decision.

 

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