Scope Of MBA In Finance (With Jobs And Salary Information)

By Indeed Editorial Team

Published 22 November 2021

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.

Doing a master's degree in business can help you gain extensive knowledge about business fundamentals and learn managerial skills. A master's degree in business administration (MBA) with a specialisation in finance can equip you with the necessary financial skills and business acumen to manage an organisation and help it grow and improve. Understanding the scope of an MBA in finance and the various available options after pursuing this degree can help you determine if this field is a good fit for your professional and personal aspirations.

In this article, we discuss the opportunities, areas of work and some common job roles you can pursue after completing an MBA in finance.

What is the scope of MBA in finance?

The scope of MBA in finance is very vast, as this postgraduate degree allows students to obtain in-depth knowledge about the financial health of an organisation. Students can learn about topics like financial planning, accounting, risk management, asset management and pricing in this course. They learn vital skills essential for the finance industry, like analysing company reports, maximising stock value, balancing risk and profitability, choosing investment portfolios and forecasting economic trends.

With an MBA degree in finance, you can work in areas like taxation, investment banking, hedge fund management, asset finance, tax planning, insurance management, financial statement analysis and reporting. Candidates can aim for employment in both the private and government sectors or pursue an independent business post this degree. Candidates can explore job profiles like accounting manager, financial analyst, investment banker, credit manager and consultant and have a rewarding career in the financial sector.

Common careers for MBA in finance graduates

Here are some typical careers that you can consider with an MBA degree in finance:

1. Financial Analyst

National average salary: ₹28,810 per month

Primary duties: Financial analysts primarily work on economic forecasting, tracking of operational metrics and reporting activities. These professionals usually work for asset managers or investment banks and investigate microeconomic and macroeconomic data to understand the fiscal health of an organisation. These insights help make recommendations about the company they are evaluating. Market research and data mining, identifying trends and performing variance analysis from past results are some of their usual responsibilities. They also work with the account team to make sure that the financial reporting is accurate. Other duties include developing automated tools and models based on economic analysis.

Read more: How To Become A Finance Analyst: A Step-By-Step Guide

2. Relationship manager

National average salary: ₹22,348 per month

Primary duties: The primary task of a relationship manager is to maintain effective customer relations. The responsibilities in this position include understanding various customer needs and implementing strategies to address them. Making efforts to retain the existing customer base and devising plans to bring in new potential customers is a fundamental aspect of being a relationship manager. These professionals identify potential connections, maintain a good relationship with client staff and ensure that they address customer concerns in a timely and effective manner. They work towards ensuring efficient sales and customer service processes.

3. Accounting manager

National average salary: ₹43,942 per month

Primary duties: An accounting manager supervises and guides the everyday operations of the accounting department in an organization. Some of their critical tasks include analysing accounting data, producing financial reports and enabling annual audits. These professionals can also work on monitoring accounting data, establishing accounting policies and principles and ensuring compliance. They also maintain and document fiscal records, files and transactions and work towards achieving various accounting objectives. Considering the nature of work, an accounting manager is often detail-oriented, has good leadership skills and possesses a good knowledge of accounting principles, standards, laws and bookkeeping practices.

4. Business analyst

National average salary: ₹43,821 per month

Primary duties: Business analysts review business operations and take measures to ensure it runs smoothly. They help organisations adapt to changing processes and conditions with effective strategies. Analysing and interpreting what stakeholders require, understanding various project needs and passing on this information to teams within the company is the most crucial role of a business analyst. They also ensure the fulfilment of different functional and non-functional business requirements in a project. Being at the forefront of business communication, business analysts often have excellent attention to detail, solid presentation skills and meticulous organisational abilities.

Related: Top 20 Finance Interview Questions And Sample Answers

5. Finance manager

National average salary: ₹46,719 per month

Primary duties: A finance manager's responsibilities can range from a strategic analysis of a company's financial decisions to tasks like accounts preparation. Their daily duties may require them to perform research, produce financial reports and provide guidance. Other tasks might include meeting department heads, offering back-office services, overseeing cash flow, liaising with teams, analysing targets and reporting. Senior duties may involve providing inputs on important business decisions such as deals, mergers and acquisitions and expansions. They may also offer insights regarding the organisation's financial health and take steps to improve stakeholder relationships.

6. Chief financial officer

National average salary: ₹76,596 per month

Primary duties: The chief financial officer of a company is responsible for optimising the financial performance of an organisation. This is a high-ranking role, and a CFO is responsible for the organisation's fiscal health. They are responsible for building finance and accounting teams, ensuring a balance between revenues and expenses and supervising financial planning and analysis in the organisation. They work with department heads for decisions related to budgeting and funding and consult board members for discussions on organisational strategies. Considering the industry knowledge and insights of chief financial officers, departments across the company use their advice and recommendations.

7. Financial consultant

National average salary: ₹19,968 per month

Primary duties: A financial consultant works closely with businesses to help them develop strategies and plans to improve their financial status and structure. Other responsibilities can include offering advice to clients regarding tax information, helping executives develop and execute short- and long-term financial goals and staying updated on economic conditions to apply towards the advice and guidance given to clients. They may travel to the clients' offices, homes or other preferred meeting locations.

Related: How To Become A Financial Advisor: A Complete Guide

8. Operations manager

National average salary: ₹38,723 per month

Primary duties: Operations managers undertake various operational activities pertaining to an organisation and ensure the timeliness of essential tasks. These professionals work towards maintaining and maximising the efficiency levels of a business and may work under operational leadership across various departments in an organisation. They perform tasks like supervising employees in their daily responsibilities, hiring and training employees, planning strategies for process-related improvements and conducting quality assurance activities. Operations managers constantly liaise between staff, management and vendors for the smooth functioning of the organisation. Primary skills required for this role include good leadership, time management and oversight skills.

Related: A Guide To Banking Operations (With Careers And Salaries)

9. Bank manager

National average salary: ₹39,138 per month

Primary duties: A bank manager performs various tasks to ensure the smooth running of a bank branch. They are responsible for meeting sales targets, the bank manager plays a vital role in keeping staff motivated and well-trained to perform their daily duties. They also work to promote the branch and its various products through intelligent marketing strategies. Ensuring a high level of customer service and providing optimal and timely resolution to customer concerns is a key duty of a bank manager. Some of the most crucial skills in a bank manager include responsibility, communication skills and leadership abilities.

10. Equity research analyst

National average salary: ₹26,327 per month

Primary duties: An equity research analyst works with investment companies and provides valuable guidance and investment strategies to help investors boost their chances of maximising wealth and profits. Equity research analysts perform an analytical study of stocks and equities in the market, track the growth of various companies and gauge their performances.

Since this profession involves an understanding of stocks and the share market, equity research analysts often have an inclination to work in a dynamic setting in a challenging work environment. Skills that are necessary to excel in a career as an equity research analyst include good financial modelling and forecasting skills, equity valuation skills and accounting and writing skills.

Salary figures reflect data listed on Indeed Salaries at the time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location.

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