money matters for students

Master of Business Administration (MBA)

Course overview

The impact of privatization and liberalization has increased the need for managers in business establishments and corporate houses across all the sectors of the economy. MBA finance professionals assess feasibility of business projects according to funds available, explore strategies to raise money and plan new areas for investment. MBA in Finance is considered as the ideal professional degree to pursue career in finance sector. MBA in Finance can increase the career options for graduate students; it also helps in improving knowledge and business skills.

In India an MBA education can be achieved in full time, part time, executive or correspondence courses.

Why an MBA in finance?

MBA finance professionals have good reasoning ability with problem solving skill which gives them ability to make and implement correct financial decisions. The accounting manager is focused more on financial reporting, while the financial manager is focused on strategy and money management. Cash management strategies developed and implemented by the financial analyst help the company to grow efficiently and allow for maximum profitability in its investments.

What can an MBA in finance do for your career?

MBA finance executives helps organization to manage the finances of the company effectively. MBA finance professionals are more into management field doing study of market economics, investment strategies, raising capital and its effective utilization.

An MBA Finance degree offers a much wider scope of career enhancement and prospects compared to other courses, as it covers various aspects of accounting and managing finance like investments, securities, business, banking and risk management. Main role of the financial manager is to oversee financial reports which help the company with decision making, business development, strategic planning, and alliance management.Apart from this, aspirants of finance MBA will also gain the benefit of being in practical business environment and gaining experience and qualification.

Leading colleges for MBA

Listed below are a few colleges that will show up in most searches for top colleges for MBA

-Indian Institute of Management, Ahmedabad (IIM A)

-Indian Institute of Management, Calcutta (IIM C)

-Indian Institute of Management, Bangalore (IIM B)

-Indian Institute of Management, Lucknow (IIM L)

-XLRI – Xavier Labour Research Institute, Jamshedpur

-FMS – Faculty of Management Studies, University of Delhi

-Indian Institute of Management, Indore (IIM I)

-Indian Institute of Management, Calicut (IIM K – Kozhikode)

-Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS)

-S. P. Jain Institute of Management Studies, Mumbai (SPJIMR)

-Narsee Monjee Institute of Management Studies, Mumbai (NMIMS)

-Symbiosis Institute of Business Management, Pune (SIBM)

-Indian Institute of Foreign Trade, Delhi (IIFT)

-T. A. Pai Management Institute, Manipal (TAPMI)

Course Content

A person specializing in finance in MBA will study at least some of the following subjects. The course varies across b-schools and universities.

  • Financial Management  
  • Capitalization
  • Capital Budgeting
  • Working Capital Management
  • Management of Profits
  • Advanced Financial Management
  • Finance Function
  • Investment Decision
  • Financing Decision
  • Current Assets Management
  • Corporate Restructuring
  • Advance Financial Services
  • Banking and Financial Institutions
  • Security Analysis & Portfolio Management
  • Risk and Insurance    

In addition you will learn subjects like marketing management, human resources management, IT for business, business mathematics etc.

Course Fee

Course fee for MBA ranges from Rs 2,00,000 to Rs 15,00,000 in India

Application process

For attaining admission to any institution in India for a full time MBA course a candidate must have

  • Completed graduation in any discipline with at least 55% marks aggregate (lesser for reserved categories). Final year students are also eligible to apply.
  • Appeared for and cleared a screening test.

Premier B-schools and some others have their own entrance tests. Candidates are selected on the basis of their cumulative score in the written tests, group discussion and personal interview (and work experience, past academic performance in some cases).Admission to the lesser known colleges will be based on state common entrance tests or that of a management body such as AIMA.

Some popular entrance tests are the IIM Common Admission Test (CAT), IIT Joint Management Entrance Test (JMET), All India Management Association's Management Aptitude Test (MAT), Xavier Admission Test (XAT) and AIMS Test for Management Admissions (ATMA), Common Entrance Test (CET) for states.

The written tests are aimed at judging the aptitude of candidates in four broad areas viz quantitative ability, reading comprehension, logical reasoning and verbal ability. Some written tests may include a section on general knowledge, current business knowledge or an essay. Group Discussion and Personal Interview is aimed at assessing personality attributes like leadership abilities, team work, initiative, analytical thought process, communication skills etc.

Is it suitable for me?

MBA is a course for administration in business. One should take up such a course if they want to focus on management.

A person who wants to be a financial manager should have strong financial skills, analysis ability, mathematical skills and financial knowledge. He should also have problem-solving skills and should be technology savvy. His communication skills should also be excellent.

Fintotal Insight

Although admission is open for graduates from any discipline, we advise that if you have a professional degree like engineering, B Sc IT/CS, B Pharm you continue in your field of education and not divert unless you want to specialize in marketing in that field or operation/system in case of an engineer/ IT graduate respectively. The reason is obvious, if you completely divert from it you will render you previous education useless in terms of time, effort and money spent. However if you want acquire an MBA to add a feather to your cap consider a part time or correspondence course which is recognized.

If you have experience in your field of education, do not quit your job for an MBA education unless, of course, you are offered admission to one of the premier institutions like IIMs. Consider taking up an executive course which has much value or ask your employer if he will put you on leave for the two years. Despite reports that you might have gotten air of saying employment opportunities have risen for MBAs you ought to be aware that they are generally not applicable for freshers. The employment scene for MBA freshers from the average college is really grey. It has become tough for a student from an average college to find a decent paying job suiting their profile and many are left with choosing a meager paying job. In fact many MBA finance students are forced to work in KPOs with job profiles that actually require only a B Com qualification or as Business Development Executives which is essentially a sales profile.

On a final note do not jump into doing an MBA program without doing proper research.

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