November 26, 2020

Why MBA Finance is a Good Career Choice?

MBA Finance

MBA Finance

Though graduation is a parameter for you to get a job in a good company, higher education can help you secure better positions with better pay packages and options. With post-graduation under your belt, the kind of opportunities that could come your way become better in many ways.

Once you finish high school, there is a lot to learn and discover in your graduation. You get time to reflect upon your choices and consider your future decisions. It is the time when you decide your real plans for the future. It could be joining the family business, taking up a job or studying further.

Options for Higher Studies

Doing a post-graduation in your current field of study or going for an MBA are the two most common choices made by fresh graduates. Some prefer to work, gain some work experience and then go for higher studies. Very often, individuals choose to do this when they plan to do an MBA. It gives them the leverage of knowing the basics of the industry when they decide to learn about the same in-depth. Their previously gained knowledge helps them to relate to education. Fresh graduates are also at an advantage because they are learning with a new mind, and they grasp the learnings easily.

MBA As An Option

MBA is among the more sought-after courses as it offers various fields of specialisations, the top five being those of Marketing, Finance, HR, Operations and IT & Systems. The wide choice allows the students to pursue a field of interest and gain specialised education in the same.

Choosing Finance As The Specialisation

When you choose MBA Finance as your stream, you have the scope of becoming a financial advisor, an investment banker, handling private equity, corporate finance and treasury. You could also be involved in credit risk management, derivatives structuring and Hedge Funds Management. The positions of CFOs, cash managers and risk managers are also well available if you decide to go for an MBA with specialisation in finance.

How Does an MBA in Finance Prepare You?

With Finance Management, the candidates learn the skills of managing the commercial units of a business. It is in addition to an overall understanding of business development. They also get a detailed knowledge of national and international economics. The syllabus of MBA in Finance prepares the students to climb the ladder in the finance sector to achieve the various positions, as mentioned in the previous section.

The Core Content

MBA in Finance syllabus covers the subjects of accounting, economics, financial planning, investments, taxation, costing, market analysis and various other related topics. Students learn the more specific topics as well such as accounting, corporate finance, decision making for growth and management, issues in management and organisations, management information systems, the study of the future and options, and supply chain management among others.

Advanced Learning

The Finance industry is very dynamic and gets impacted by events happening around the world. For the candidates to correlate their education with the same, they also get trained in subjects such as behavioural finance, international finance, income securities, mergers and acquisition, portfolio management, taxation, wealth management and private equity and venture capitalism.

To ensure that the students get a deep understanding of the subjects, they get to work on research projects and attend summer school programs and internships. It gives them direct exposure to the industry and enables better learning and first-hand experience.

Soft Skill Enhancement

Getting technical knowledge prepares you to understand the business aspects of the industry, but to survive, you need to be successful in communication and dealing with real people. You must be able to express yourself well enough to ensure that your point gets across without being misread. Presentation skills are also crucial for career development and growth. It helps to create an identity for yourself. The students need successful training in additional skills of negotiation, leadership and consultation as well.

Impact of MBA Finance on Career Growth

As discussed earlier, the course allows the candidates access to a variety of opportunities. With a finance background, you can get access to any industry as no industry can run without proper financial management. It not only puts you in a position of authority but also puts an onus to take decisions very carefully. A wrong financial decision can prove harmful for a business just as a wise decision can bring in profits. As the business grows, the power and authority also grow. There is scope for growth even by switching roles when you are in an authoritative position.

The Industries

As mentioned above, finance is a part of every industry, and there is also the finance industry, which is significant in itself. The opportunities are plenty for an individual trained in all the relevant skills. The fields open to candidates from MBA in Finance are Investment Banking, Consumer Banking, Corporate Finance, Merchant Banking, Institutional Finance and International Finance. Once you prove yourself, you could even be a part of the advisory team at the various government enterprises and corporates.

The Starting Point

Though there is ample opportunity for career growth, you should not expect to start from the top. Learning happens at a base level, and the jobs open to candidates are of Cash Managers, Accounting Managers, Finance Officers, Financial Analysts, Investment Banking Associates, Investment Bankers. Some others include Management Consultants, Chief Financial Officers, Corporate Controllers, Treasurers, Credit Managers, Investing Sales Traders and Associates and Insurance & Risk Managers.

To get to these positions, you will first need to get started with the admissions procedure, which is relatively rigorous, especially if you wish to get into a reputed institute. If you have a flair for finance, go for it, but do consider your options carefully. It is a competitive world out there, and you must be comfortable with your decisions to fight it out.

The first and foremost thing to consider for an MBA is selecting the right college. BML Munjal University could be one of the best choices among all the options. The college, founded by Brijmohan Lal Munjal, also the owner of the Hero Group, provides the best faculty, training, syllabus, and facilities. In terms of practical training as well, the college deserves special mention.

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