How Much Do MBA Finance Graduates Make? (Top Jobs Explained)

Indeed Editorial Team

Updated 9 July 2022

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.

Finance is a significant part of all business operations, right from a small family-run business to large enterprise organisations with a presence in multiple countries. Due to their vital nature, you can find jobs in finance management in all industries. If you want to work in these positions, a master of business administration (MBA) in finance degree can be an ideal start. In this article, we explore how much does an MBA in finance make, discuss their career prospects and find out how to get admission in this course.

How much does an MBA in finance graduate make?

With an MBA in finance, you can apply for several high-paying jobs in sectors like insurance, investment and corporate banking. Your salary may depend on factors like your role, experience and expertise. Here are the salaries of top jobs that MBA in finance graduates take up:

1. Accounting manager

National average salary: ₹6,72,462 per year

Primary duties: Accounting managers are in charge of the accounting department. They control the periodic financial reports, making sure that the company complies with financial reporting standards. They may also oversee the preparation of financial forecasts and annual budgets.

2. Credit manager

National average salary: ₹4,64,579 per year

Primary duties: Working in banking, a credit manager takes care of the credit department. This is a leadership role. They meet loan applicants and potential customers to evaluate their financial status when they apply for a loan. They may also work on methods to develop credit scoring models, analyse risks and make sure that lending procedures at the organisation follow government regulations. It is also the credit manager's job to approve or reject loans and keep track of loan applications.

Related: A Guide to Banking Operations (With Careers and Salaries)

3. Financial analyst

National average salary: ₹4,05,433 per year

Primary duties: Using data, financial analysts try to discover business opportunities or predict the outcomes of planned decisions. They may also consult businesses on investment decisions. Companies rely on advice from financial analysts to set up cost structures and capital budgets for their projects.

4. Financial controller

National average salary: ₹10,10,003 per year

Primary duties: A financial controller runs internal control audits to eliminate errors and fraud. Another important role is developing daily operational strategies for a business and ensuring that they follow these guidelines. With a financial controller in charge, a business can improve efficiency and streamline management reporting.

5. Finance treasurer

National average salary: ₹52,005 per month

Primary duties: Handling many more responsibilities than a typical bookkeeper, a treasurer is accountable for business strategies like mergers and acquisitions. Their primary goal is to eliminate investment risk. To be a successful treasurer, you need to be an expert in organisational leadership and investment management, besides having technical accounting abilities.

6. Insurance and risk manager

National average salary: ₹7,56,363 per year

Primary duties: Working in insurance risk management, the goal of risk managers is to make sure that an organisation has enough insurance coverage to handle claims arising from risks caused by its daily operations. They may work on insurance budgets, manage existing claims, and prevent lapses in insurance coverage because of unpaid bills. By analysing operational risks, they can also reduce overall insurance costs.

7. Investment banker

National average salary: ₹43,319 per month

Primary duties: Companies offer this prestigious and high-risk position only to candidates with extensive experience and often require a master's degree like an MBA in Finance. The duties may include advising corporate clients on financial strategies and developing ways for businesses to raise capital.

An investment banker can take control over investment portfolios from multiple clients to invest and earn a profit on their behalf. Alternatively, they can work as a financier and help businesses with budgetary issues.

Read more: What Is an Investment Banker? Definition and Career Advice

8. Chief financial officer (CFO)

National average salary: ₹73,201 per month

Job description: Employed at the top of an organisation and reporting only to the CEO of a business, a CFO oversees all financial operations. Their goal is to ensure that the business achieves its financial goals. They may supervise financial personnel, analyse financial statements, and develop financial strategies. The company holds CFOs responsible for its financial management and stability. They also manage mergers, acquisitions, financial obligations, cash flow, accounting, tax payments and investments.

9. Cash manager

National average salary: ₹4,89,567 per year

Job description: Cash managers oversee cash-related business strategies and activities, including payment procedures, refund policies and the organisation's bank account. They may work with a team to ensure that the company's financial activities follow local and international laws and policies. Daily responsibilities include assisting with audits, overseeing payroll activities and streamlining cash-related operations.

Related: 20 High-Paying Careers With an MBA (With Duties and Salary)

Benefits of an MBA in finance degree

MBA degrees in finance and related disciplines are popular choices due to lucrative career prospects and the knowledge they provide. Some benefits of earning this degree include:

  • Learn life skills: Since the course focuses on finance, investment and banking, you gain valuable exposure to practical business concepts.

  • Get leadership opportunities: Aside from finances, you also understand concepts like economics, leadership and business strategies. This creates a demand for you in the upper levels of business management at many large organisations.

  • Obtain practical training: Once you graduate with an MBA in finance, your training means you can start working directly in corporate mergers and acquisitions, insurance, corporate risk and local and global economics.

Entrance exams for MBA in finance

Universities that offer an MBA in Finance expect students to pass one of the many MBA entrance examinations, such as CAT, CMAT, XAT, SNAP, NMAT and IIFT. The CAT, CMAT and XAT exams are the three most popular options. There are over 50 entrance exams in and are some of the more common ones:

Common Admission Test (CAT)

Conducted by the Indian Institute of Management, India's most popular MBA entrance exam consists of 100 questions to solve in 3 hours. The registration is online, and you can take this test at one of over 400 centres. The CAT has three sections:

  • Quantitative aptitude (CA)

  • Data interpretation and logical reasoning (DILR)

  • Verbal and reading comprehension (VRC)

Common Management Admission Test (CMAT)

This National Testing Agency conducts this test, and over 100 institutions that offer MBAs accept this score. The NTA conducts the CMAT once a year, during January. Like the CAT, this is also a 3-hour computer-based test. The CMAT tests your ability in four sections:

  • quantitative technique

  • logical reasoning

  • language comprehension

  • general awareness

Xavier Aptitude Test (XAT)

The Xavier Labour Relations Institute (XLRI) conducts the XAT annually, on the first Sunday of each year. You can take this test online, as it is also a computer-based test like the CMAT. Aside from XLRI Jamshedpur, over 800 colleges accept XAT scores as a valid admission qualifier. The XAT tests you in four areas:

  • quantitative ability

  • English language and logical reasoning

  • decision making

  • general knowledge

Symbiosis National Aptitude Test (SNAP)

Symbiosis National University (SNU) organises SNAP. All 16 institutes under the Symbiosis National University banner and several other MBA institutions accept SNAP scores. You can register for SNAP between August and November each year and it usually takes place in December. This computer-based exam takes two hours to complete, and tests you in:

  • General English

  • Quantitative, data interpretation and data sufficiency

  • Analytical and logical reasoning


NMIMS University conducts this national-level entrance test at its premises, and at other business schools in India and abroad. Initially conducted by Narsee Monjee Institute of Management Studies (NMIMS), the Graduate Management Admission Council (GMAC) took over this exam. You can choose a date and venue during the exam window between October and December using the NMAT scheduling option, just like the GMAT.

GMAC conducts the NMAT once a year, and the test lasts 75 minutes. You can take it up to three times, and have to answer questions in three areas:

  • language skills

  • quantitative skills

  • logical reasoning

Management Aptitude Test (MAT)

Over 600 institutions accept the MAT score for admission, making this one of the top choices for admission to programmes like MBA Finance. The All-India Management Association (AIMA) conducts this test four times each year, generally in February, May, September and December. Significantly different from other exams, it has multiple modes. This means you can take it as a Computer-Based Test (CBT), a Paper-Based Test (PBT) or an Internet-Based Test (IBT).

The MAT exam lasts 150 minutes and includes 200 questions. When you appear for the MAT, your questions cover five subjects:

  • Indian and global environment

  • Language comprehension

  • Data analysis and sufficiency

  • Mathematical skills

  • Intelligence and critical reasoning

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

Please note that none of the companies mentioned in this article are affiliated with Indeed.

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