MBA in Finance

List of colleges known for Finance Specialization

One of the most preferred domains to work in after an MBA is the finance domain. Multiple sectors ranging from investment banking to rewarding jobs in commercial banking, Finance has become one of the most sought-after domains across B-school campuses. It is a domain which requires a student to possess multiple skills in mathematics, economics, and financial theory, all of which are covered in great detail in a finance degree, specialization or track. Courses focus on investments and investment strategies, global and domestic economics, mergers and acquisitions, financial theories, and corporate risk and insurance.

MBA in Finance places a special focus on various financial analysis. During the curriculum during the MBA, students are exposed to various scenarios, including management simulations, teamwork projects, traditional lectures, and role-plays.

Graduates will have multiple opportunities in various financial organisations. MBA in Finance also helps the graduates to work in different fintech startups. Also, the degree programme offers opportunities to work in other fields, such as investment banking, hedge fund management, financial statement reporting and analysis, wealth management, credit analysis, insurance management and international finance.

Some of the reasons for which MBA in finance stands at one of the top picked courses are:
  • Promises high paid salaries in the BFSI sector
  • Brings good career opportunities in the BFSI sector
  • Is industry independent
Why MBA in finance?
 
An MBA in Finance provides the students with desirable professional options. It will help in equipping oneself which will enable the student to find employment in the financial sector like commercial banking, financial planning, investment banking.
If any candidate prefers MBA in Finance as the career option for him/her then, choosing an MBA college to lay a foundation for this career option is very critical such that it could provide the best possible kick-start to his/her career in finance.
The below table shows the best colleges across India for MBA in Finance which are known for offering the best faculty, opportunities in the Finance domain.
Tier-1
RankingCollegeLocationDegree offered
1Indian Institute of Management (IIM-C)KolkataPGDM
2Indian Institute of Management (IIM-A)AhmedabadPGP
3Indian Institute of Management (IIM-B)BengaluruPGP
4Jamnalal Bajaj Institute of Management Studies (JBIMS)MumbaiMMS
5Faculty of Management Studies (FMS) – Delhi UniversityDelhiMBA
6Indian Institute of Management (IIM-L)LucknowPGPM
7Xavier Labour Research Institute (XLRI)JamshedpurBM
8Management Development Institute (MDI)GurgaonPGPM
9SP Jain Institute of Management & Research (SPJIMR)MumbaiPGDM
Tier-2
10Indian Institute of Management (IIM-K)KozhikodePGP
11Indian Institute of Management (IIM-I)IndorePGPM
12Indian Institute of Foreign Trade (IIFT)DelhiMBA
13Indian Institute of Foreign Trade (IIFT)KolkataMBA
14Indian Institute of Management ShillongShillongPGPM
15Indian Institute of Technology Bombay – SJMSOMMumbaiM.Management
16Indian Institute of Technology Delhi – DMSNew DelhiMBA
Tier-3
17Indian Institute of Management TrichyTrichyPGPM
18Narsee Monjee Institute of Management Studies (NMIMS)MumbaiCore (MBA)
19Indian Institute of Management RanchiRanchiPGDM
20Indian Institute of Management UdaipurUdaipurPGP
21Symbiosis Institute of Business Management (SIBM)PuneMBA
22Symbiosis Centre for Management and HRD (SCMHRD)PuneMBA
23Indian Institute of Management RaipurRaipurPGP
24Indian Institute of Management RohtakRohtakPGP
25Indian Institute of Management KashipurKashipurPGP
26Institute of Management Technology (IMT)GhaziabadPGDM
27International Management Institute (IMI)New DelhiPGDM
28Indian Institute of Technology Kharagpur – VGSOMKharagpurMBA
29T A Pai Management Institute (TAPMI)ManipalPGDM
30Indian Institute of Technology Madras – DMSChennaiMBA
Cluster-4
31Indian Institute of Management (IIM-V)VisakhapatnamPGP
32Indian Institute of Management (IIM-N)NagpurPGP
33Indian Institute of Management (IIM-Amritsar)AmritsarPGP
34Indian Institute of Management (IIM-S)SirmaurPGP
35Indian Institute of Management (IIM-J)JammuPGP
36K J Somaiya Institute of Management Studies & Research (SIMSR)MumbaiPGDM
37Goa Institute of Management (GIM)GoaPGDM

List of Colleges offering courses specific to that Specialization:

Banking & Finance (BFS) is one of the most preferred specialisations among MBA/PGDM students. It has also been observed that apart from core Banking, Financial & Insurance sectors, the BFSI sector provides a range of banking services with consistent growth. The BFSI sector is expected to further accelerate the growth of the nation and hence, the manpower requirement in the BFSI industry has grown to fuel that progress and there is a good requirement of resources in this sector. The importance of BFSI as a component of the financial system has been well accepted in the growth trajectory and economy world over. Acting as financial intermediaries, BFSI performs important functions that contribute to the economic growth of the country.
The MBA in Banking and Financial Services program helps the upcoming managers with the skills required for a successful career in Banking and finance sectors, mergers, acquisitions, managing the assets of a BFSI company in the right manner. The MBA in BFSI is globally recognized course focused on taking initiatives in transforming the environment of Banking and Financial services sector. Managing, controlling and financial analysis are the major functional areas for which industry needs an MBA in Banking & Financial Services.
The below table shows the list of colleges which offer banking and financial specific courses for two year programs.
CollegeCourse Offered
Indian Institute of Management, Calcutta (IIM-C)PGP in Finance
JBIMSMSc Finance
IMT GhaziabadBFS
IMI DelhiB& FS
TAPMIBKFS
GIM GoaBFSI
SSBF, LavaleB & F
K J Somaiya Institute of Management Studies & Research, MumbaiMBA Financial Services

Placement Details:

The placement opportunities in MBA in finance are pretty good. Excellent career opportunities are there in various investment banking firms, financial institutions and banks. One can get into relevant jobs in various sectors like insurance, wealth management etc.

The pay scale depends on the B school from where one has graduated but one’s degree of knowledge in finance will be the deciding factor. Even students from cluster II or cluster III B-schools can get lucrative packages if one has sound knowledge about the subjects and an all-rounder. The average salary ranges normally from Rs 6.5 to 30.05 lakhs in Tier I and Tier II b-schools depending on the multiple factors like faculty, placements, accreditation of that school. 

Considering the top 5 colleges in Finance domain, IIM-C, IIM-A, IIM-B, FMS, JBIMS are the ones which offer very good opportunities

 

Indian Institute of Management (IIM), Calcutta

IIM Calcutta is the pioneer institution among all the B schools in the country. It is also known as the Mecca of Finance. Professors at IIM-C are known for their excellent research work and in-depth consultation in banking and financial services. Accounting and Finance are the most well-taught topics and the faculty members are known for their industry knowledge. It also has a famous finance lab where the day to day business analytics is discussed. IIM-Calcutta also has access to a Bloomberg terminal, which provides access to real-time national and international financial data, market information. Since it’s the best college for finance, it attracts the best companies for placement and since the best companies come for placement, it attracts the best talent pool. The placement details for the year 2020 are shown below.

Placement highlights for the batch 2020-

  • The average salary increased to Rs.28 LPA from Rs.25.36 LPA last year (2019)
  • Median Salary at Rs.25.5 LPA
  • Average Salary for top 10% students among the batch at Rs.54.5 LPA
  • Average Salary for top 25% of students went up to Rs.41.8 LPA
  • Number of students participated in the Placement process 2020: 439
  • Number of Recruiters making placement offers: 136
  • Total number of offers made: 492
  • 31% Batch Placed in Consulting and 15% in Finance domains

The students at IIM-C were placed across multiple sectors. And around 15% of the batch was offered roles in Finance. The below details show the details of the salary for the batch of 2020.

 

Median SalaryAverage SalaryMaximum Salary offered
25.1 LPA27.9 LPA80LPA

The top recruiters included McKinsey & Co., Bain & Co., BCG, PwC, Kearney, Accenture, Barclays, Goldman Sachs, JP Morgan Chase, Bank of America Merrill Lynch, and Gaja Capital which offered various roles in the Finance domain.

Details on This Page

Indian Institute of Management (IIM), Ahmedabad

The students were offered multiple roles in Finance, Sales and Marketing, Supply Chain, Operations, Commodity Trading, Project Management, and Consulting.

The cluster-cohort system is unique to IIM-A. This system gives the flexibility for a student to opt for a company based on the role offered. The newly designed dream applications process at IIM-A allows a student to sit for five more companies after securing an offer. The cluster-cohort system helps the recruiters in fairly conducting the process and also helps in building a strong relationship between the college and recruiter community. The placement details for the year 2020 are shown below.

Placement highlights in 2020-

  • Highest Domestic Package: Rs.55.88 LPA
  • Average Domestic Package up at Rs. 26.13 LPA from Rs.25.83 LPA last year
  • Highest International Package up to US$180,645 (Eqv.Rs.1.32 Cr. PA) from US$117,631 last year (2020)
  • Average International Package up at Rs.61.76 LPA 
  • Number of PPOs Offered: 190
  • Number of PPOs Accepted: 108
  • Total Students eligible for placements: 404
  • Total number of students participated in IIMA Placement 2020: 391
  • Students who opted out of  placement at IIMA: 13
  • Total Students accepting Placement offers: 388
  • Students embarking on Entrepreneurship Ventures: 2 
  • Students who sought placement outside campus: 11
  • Number of Recruiters: 153
  • Different Profiles Offered: 182.
 
The number of offers in the Finance domain was around 13%.
Median SalaryAverage SalaryMaximum Salary offered
25.0 LPA26.13 LPA55 LPA
The top recruiters in Finance domain were ICICI, Wells Fargo, Kotak Mahindra, Goldman Sachs and IDFC First Bank, Morgan Stanley, CitiBank, Yes Bank.
 

Indian Institute of Management (IIM), Bengaluru

IIM Bangalore is one of the finest management schools in India and Asia according to several rankings. 

IIM-B again came out with flying colours by attracting new recruiters along with the past recruiters this year. Diverse profiles were offered to the students which gave them flexibility in terms of industry and the role. The placement details for the year 2020 are shown below.

Placement details of for the batch of 2020-
  • Median CTC (Domestic): INR 25 LPA
  • Average CTC (Domestic): INR 26.18 LPA
  • Median CTC (Overseas): INR 26 LPA
  • Average CTC (Overseas): INR 32.10 LPA
  • A total of 216 PPOs were offered, of which 149 were accepted. 
  • 120 companies visited the campus for the final placement process
Median SalaryAverage Salary
26.0 LPA26.18 LPA
The top recruiters in the Finance domain were JP Morgan, Avendus Capital, ICICI, Wells Fargo, Kotak Mahindra, Goldman Sachs and IDFC First Bank.

Faculty Management of Studies (FMS), Delhi

Faculty of Management Studies (FMS, Delhi) is one of the oldest B-Schools in the country, established in 1954 and is a part of this Central University. It is one of the premier MBA colleges in India which is on par with the IIMs. Excellent faculty, better ROI and excellent placement opportunities make FMS, New Delhi as one of the highest ROI B-schools of India. The placement details for the year 2020 are shown below.

FMS Delhi 2020 Highlights-

  • 104 companies participated in the final placements process at FMS Delhi, making 234 offers to the MBA batch of 2020
  • 33% of the candidates got placed in Consulting, Strategy and General Management domain, the Operations/IT/E-commerce domain received 26% of the total offers, 24% of offers were offered in the sales and marketing domain, and 17% of the total offers were from the Banking, Financial Services and Insurance (BFSI) domain
  • Top companies which visited the campus included ITC Limited, Asian Paints, Airtel, American Express, Barclays, HSBC, Aditya Birla Group, Flipkart, Tata Administrative Services, A.T. Kearney, Capgemini E.L.I.T.E. and Delhivery, amongst others
Median SalaryAverage SalaryMaximum Salary offered
23.4 LPA25.6 LPA58.6LPA

Profiles Offered Across all the colleges:

Students who take their majors in Finance will be going through various topics like financial accounting, corporate finance which will equip the students to understand investment strategies, local and global economics, mergers and acquisitions, corporate risk and insurance. After completing MBA in Finance multiple roles in different sectors are offered to the students during the campus placements.

Finance roles can be classified into 3 broad areas based on industry:

Banking Roles – Corporate Banking, Retail Banking, Investment Banking, Markets, Bank Treasury Management, Transaction Banking are some popular banking roles open to you

Corporate Finance Roles – Treasury Management, Finance Manager are some of the roles offered

Other Finance Roles – Analyst at the Rating agency, Credit Analyst, Relationship Manager, Risk Manager at a Financial Institution, Fund Manager at an Insurance company, Manager at a new-age Fin-Tech company like Wallets, SME Lending platforms

Corporate Finance Roles

1. Role: Corporate Treasury 
Corporate Treasury is responsible to manage the firm’s funding, liquidity, capital and relationships with creditors and regulators. The department plays a key role in firm-wide strategic and analytical projects, providing a unique insight into the firm’s business activities and performance.
 Concepts you need to know:
  • Treasury Operations
  • Cash Management
  • Working Capital Management
  • Business Valuation
  • Accounting
Roles Offered by Specific BFSI Industry Leaders
1. Department: GIR (Global Investment Research)
The Global Investment Research division is responsible for coming up with various analyses like equity analysis for the clients, currency and commodities markets.
Students are placed into equity and strategy research teams, where they focus on project work and the day-to-day tasks of a research team. Students gain exposure to all aspects of a research analyst’s role.
Students get to work on preparing financial models. A typical day could include working on financial models, conducting research on and writing portions of thematic pieces, analysing market trends and attending conferences. This role is usually offered by Goldman Sachs.
Important areas of focus for candidates: Concepts related to Financial Derivatives and Valuation basics.

2. Department: IBD (Investment Banking Division)
An investment banker is responsible to work on multiple areas like Merger & Acquisition advice, cross-border M&A, special committee assignments and complicated merger transactions. Provides advice on a full range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, raid defences, spin-offs, divestitures and other restructurings.
Responsibilities include making pitch books and roadshow presentations. Also, includes performing some valuations and investor presentations.
Important areas of focus for candidate: Concepts related to M&A basics would do.

3. Department: MRMA (Market Risk Management and Analysis)
The main roles of people working under MRMA division include working on assessing the risk of the market.
The roles and responsibilities mainly revolve around the analysis of policies and standards for model development, approval and control and to validate the firm’s valuation and risk models; and to analyse the market risks, check, if the compliance is met and report to the senior managers.

MRMA is also responsible for the calculation, financial analysis and reporting of market risk capital requirements for the firm and associated businesses.

Important areas of focus for candidate: Risk and Return Concepts should be pretty clear.

1. Department: CRG (Centralized Research Group)
CRG mainly deals with M&A advice, including sell-side advice, raid and activism defences, cross-border M&A, special committee assignments and complicated merger transactions. Students working in this division work on analysing range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, raid defences, spin-offs, divestitures and other restructurings.
 JP Morgan offers a role in this department.
Areas of focus for Candidates: Concepts related to M&A basics.

2. Role/Department: CAU (Credit Analysis Unit)
The Credit Analysis Unit (CAU) is a part of the Corporate & Investment Bank (CIB). Credit Analysts will closely work with the in-country Bankers and Credit Executives and provide them with a comprehensive credit risk analysis of clients – covering industry, business & financial profile.
Responsibilities Include:
Creating credit risk analysis reports on specific client portfolios (covering industry, business, financial and credit issues). Recommend rating grades based on the analysis.
A good understanding of credit analysis, accounting treatments, financial adjustments etc.
Developing strategies and designing open channels for communication with clients.
Tracking the credit and reporting the same to the client for the particular industry.
Areas of importance to the candidates: Risk and Return Concepts, Accounting, Business Valuation.

3. Role/Department: GIB 
The GIB Analyst team consists of product groups which work on the merger and acquisitions. 
This role is usually offered by companies like Bank of America.
Responsibilities:
Analyse company financial statements, prepare financial models, perform company valuations using various methodologies and analyse merger consequences.
Closely align with bankers with continued interaction to support them throughout the pitch/deal process.
Areas of Importance to Candidates: Concepts related to M&A basics.

4. Department: STG (Strategic Transactions Group)
STG Identifies, structures and executes a range of transactions for corporate, financial institutions and governments. Transactions consist of mergers, spin off, split off.
The students offered this role will be required to work extensively in an integrated team environment with global investment banking professionals on ideas and presentations across sectors and countries.
Supporting the team by working on financial analysis and working on local –global infrastructure.
The candidate working in this department will be required to gain a sound understanding in markets, analysing the financial data. This understanding of the resources working in this domain enables the firm to design customized solutions for clients – whether it is strategic initiatives like M&A, financing or risk management solutions.
Responsibilities:
Analysing the financial models, preparing the presentations, conducting product research.
Overtime creates enough understanding of the sector to identify new business opportunities.
Carrying out financial modelling and developing and presenting the valuation analysis.

5. Role/ Department: IBD (Investment Banking Division)
Offering M&A advice on client acquisitions. Working on the valuation model, and creating reports to close the merger and acquisition reports.
 
6. Role/ Department: CFS (Corporate Finance and Strategy)
Due diligence, assessing market attractiveness, understanding the competitive environment in the industry, explaining business performance and evaluating future potential. Day-to-day work might include analysing data, conducting primary research (e.g. interviewing industry experts), conducting secondary research (e.g. analysing industry reports), developing PowerPoint presentations and building and testing strategic hypotheses.
 

Details of the Courses in Finance Domain:

MBA Finance candidate learns many subjects and it varies on the syllabus opted by the school as well as the students. The fundamental component for all the areas would be corporate finance which builds the base.

Some of the subjects/courses which will be focussing on the multiple concepts and areas of Finance are: –

  1. Accounting for Managers
  2. Business Communication
  3. Quantitative Methods for Management
  4. Organizational Behaviour
  5. Managerial Economics
  6. Macroeconomics
  7. Marketing Concepts and Practice
  8. Corporate Finance
  9. Strategic Management
  10. Investment Analysis and Portfolio Management
  11. Financial Markets and Institutions
  12. Advanced Financial Management
  13. Public Financial Administration
  14. Business and Corporate Laws
  15. Human Resource Management
  16. Information Technology for Finance
  17. Production and Operations Management
  18. Treasury and Risk Management
  19. Mergers and Acquisitions
  20. Microfinance and Insurance

What kind of students are preferred by the top institutes?

  1. The first and foremost important criteria when it comes to the shortlisting of candidates to the top B schools is a candidate with good academics. All the top B schools prefer candidates with an excellent academic record in 10th, 12th and graduation
  2. Candidates with an average prior experience of 2-3 years will be given extra weightage while shortlisting, as these candidates would already have been exposed to corporate culture and would have a basic understanding of how a firm works
  3. The top B schools also give an extra weightage to the candidates who are from non -engineering background as part of academic diversity
  4. And candidates who would have cleared CFA level 1, or financial background will be preferred considering the multiple roles offered in the finance domain during the placements

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