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Can I do an MBA in finance without a bachelor’s in commerce/commerce background?

Management

Blog Date
March 25,
2024

An MBA in finance is now accessible to non-commerce graduates and students from various disciplines. The growing interest in this field indicates an increasing industry demand for finance professionals with diverse educational backgrounds. This degree can unlock numerous career opportunities across different industries such as finance, insurance, stock market, and investments. Additionally, pursuing an MBA in finance will not only equip you with financial knowledge but also develop your management and leadership skills. Having said that, let’s understand the criteria for pursuing an MBA in finance without a commerce background.

Why is an MBA in finance in demand?  

If you’re on the path to earning an MBA, finance is undoubtedly one of the most esteemed and sought-after areas of study. This exceptional program equips students with comprehensive financial skills and knowledge. By delving into various investment strategies and mastering the art of efficient financial asset management, students gain the ability to decode complex finance concepts and make them easy to understand. The growing career opportunities and industry demand for finance professionals with diverse educational backgrounds answer the question of why an MBA in finance without commerce. More reasons as to why MBA in finance is in demand are:

  • An MBA degree in finance trains individuals with the knowledge, expertise and skills to be able to embark on different career paths, such as, finance banking, corporate finance, financial planning, risk management, and asset management.
  • Through an MBA in finance, students learn the basic skills needed in budget preparation, financial statements analysis, risk assessment, investment decision-making, and the formulation of strategies that help maximize profitability.
  • Some MBA in finance degrees may involve coursework on international finance, which is much needed when working for multinational corporations.
  • Finance is a solid and resilient industry, even during the recessions of the economy, as it keeps growing. Every company has to deal with financial matters in a professional manner, and in order to do this, they have to use the expertise of financial managers to utilize their resources appropriately, make the right decisions, and tackle financial difficulties effectively. Thus, an MBA in finance is a degree of persistence that has a high demand in the finance industry.

Eligibility criteria for non-commerce students in MBA in finance 

The admission criteria for MBA finance without commerce backgrounds consist of having a solid academic track record, relevant work experience, and a commendable score on the entrance exam. In some cases, you may also be asked to complete extra coursework in finance or related fields to ensure you’re well-prepared for the program’s curriculum. General criteria include the following:

  • Applicants of any major in their undergraduate education will need to score at least 50%. 
  • Moreover, they need to achieve a score specified by the respective university in well-known national-level entrance exams, such as the CAT, XAT, NMAT, and MAT.
  • If applicable, applicants must also perform well in the university entrance test.

Abiding by these criteria will also make your eligibility for an MBA in finance without a commerce background clear!

Career prospects for non-commerce graduates after MBA finance programs

There are many career prospects for non-commerce graduates after MBA finance programs. The course provides a plethora of choices post-graduation, which explains its popularity among students.

Some of the most in-demand job options after an MBA in finance are:

Job TitleJob DescriptionAverage annual salary
Investment BankerThe role of an investment banker is to provide companies and governments with advisory services regarding financial transactions, including mergers and acquisitions, issuing stocks or bonds, and strategic financial consultation.Rs 9 to 10 lakhs
Finance AnalystGuide a company to make big investment decisions after analyzing their financial data. Review the company’s financial summaries and data and guide the company’s management to make well-informed decisions. Rs 5 to Rs 13 lakhs
Global Tax ConsultantAdvise clients on international tax laws and regulations, helping them optimize tax strategies across borders. Additional responsibilities include conducting research, analyzing financial data, and providing recommendations to minimize tax liabilities while ensuring compliance. Rs 7 to Rs 8 lakhs
Finance ManagerManage the firm’s finances by structuring its financial resources through the development of monetary plans.Rs 16 to Rs 17 lakhs
Credit Risk ManagerAssess and manage a financial institution’s credit risk to ensure sound financial health and minimize potential losses.Rs 12 to Rs 13.5 lakhs
Derivatives TraderTo exchange financial derivatives, such as stocks, bonds, commodities, etc., acquired from a corporation’s underlying acquisitions. Rs 8 to Rs 9.5 lakhs
Corporate Finance Professional Manage the financial budget of an organization to invest in good return projects, analyze financial data for the organization, and provide financial advice to the management.Rs 22 to Rs 23 lakhs
Equity Research AnalystLearn the organization’s weaknesses and strengths in detail. Advise the investors when to buy, sell, or hold stocks with a company.  Rs 10 to Rs 11 lakhs

Industry demand for finance professionals with diverse educational backgrounds

For the developing finance sector, companies need to hire finance experts with diverse educational backgrounds. Varied professionals’ educational backgrounds tend to create unique faces for their job profiles.

Companies are increasingly attracted to professionals with innovative problem-solving approaches, which is why there is an increase in the demand for graduates with a background in mathematics or computer science. Such individuals are described as having the best analytical and technical skills, which gives their companies an edge in areas like algorithmic trading and financial analysis.

Similarly, individuals from an engineering background bring valuable knowledge and understanding of processes, systems, and operations, providing a unique perspective to their companies. Their expertise in operations management and tech integration is particularly beneficial for companies undergoing digital transformation. Additionally, professionals from arts backgrounds contribute to workplace diversity and inclusivity. Their critical thinking abilities and ability to analyze complex problems from different angles greatly benefit their companies. This is why there is a growing industry demand for finance professionals with diverse educational backgrounds. Consequently, an MBA in finance, even without a commerce background, can prove highly advantageous in this thriving industry.

Pursue an MBA in Finance with Online Manipal

Manipal University Jaipur offers aspiring students a platform for  online MBA  with finance as elective. The program teaches essential skills, including financial analysis, strategic decision-making, risk management, and investment planning. It helps students gain the expertise to work in diverse roles, such as financial analyst, investment manager, credit risk analyst, and much more. Online Manipal helps students master the core of finance, become industry-ready professionals, strengthen their domain knowledge, and amplify their future career prospects  with an online MBA from MUJ. 

Conclusion

Now, students from a non-commerce background can easily secure a spot in an MBA program with finance elective. The field of finance is becoming more popular by the minute, offering promising career paths and high annual salaries for recent graduates. Additionally, there is a growing need for professionals with varied backgrounds in the industry. These students should go through the admission criteria for an MBA in finance without a commerce background to check their eligibility.

Disclaimer

Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.


Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.

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