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A Master of Business Administration (MBA) in financial technology (FinTech) focuses on the confluence of technology and finance. It offers you a unique skillset that combines technological insight and financial expertise. This is a specialized degree program that provides you with key skills such as financial analysis, data analytics, risk management, cybersecurity, programming, and entrepreneurship. On the other hand, an MBA in finance is a more traditional program that focuses on studying how to manage financial instruments like stocks and money.
An MBA in finance is an excellent option for students who are interested in economic progress and financial management. However, an MBA in FinTech is for people who want to perform well in the complex financial landscape.
This article will discuss the core differences between MBA in Finance and FinTech, and also explain these two types of programs in detail. It will focus on the curricula of these two programs and the career paths that open up to students following graduation. It will also apprise you of how to select the right option between finance and FinTech for yourself.
An Interesting Read: Best Finance Project Ideas for an MBA in Finance
What is an MBA in Finance?
An MBA in Finance is a specialized degree that focuses on financial management, strategy, and analysis in the context of businesses. It helps you dive deep into areas such as investment banking, financial markets, corporate finance, and risk management. The program also prepares you for leadership roles in the financial industry.
The program fuses core coursework of MBA with the latest finance-specific subjects like financial modeling, investment analysis, valuation, and financial risk management.
It prepares you well for careers in different finance-related fields such as investment banking, financial analysis, corporate finance, and asset management.
In an MBA in finance program, you can develop analytical, strategic, and quantitative decision-making skills that are important for you to be able to navigate the complex domain of finance better.
These programs are usually full-time ones spanning a couple of years. They may also include internships, simulations, and case studies that offer you practical experience.
Essentially, an MBA in finance is a specialized degree program that offers you the skills and knowledge you need to excel in the challenging and dynamic world of finance.
Also Read: Can I do an MBA in finance without a bachelor’s in commerce/commerce background?
What is an MBA in FinTech?
An MBA in FinTech is a new program compared to an MBA in finance. It is a specialized and multidisciplinary program that looks to provide you with the understanding and knowledge that you need to advance and manage financial technology.
The program is meant for recent graduates who want to take up careers in finance technology, big data analytics, artificial intelligence (AI), and data science. It is also helpful for various high-tech professionals who wish to advance their careers, such as the following:
- Mathematicians
- Engineers
- Computer Programmers
- Commerce and Business Undergraduates
In India, you can gain admission to these programs based on your academic merit and the scores you obtain in the entrance exams. You must have a bachelor’s degree in a relevant domain with at least 50 to 60% in the total percentile. Results of the following entrance tests are also considered to determine your eligibility for the program:
- Common Admission Test (CAT)
- Graduate Management Admission Test (GMAT)
- Xavier Aptitude Test (XAT)
- Narsee Monjee Management Aptitude Test (NMAT)
- Management Aptitude Test (MAT)
Also Read: What Do You Know About CAT, MAT, XAT, CMAT?
All the top business schools in India offer this program, which also enjoys an ever-growing MBA FinTech career scope.
Core Differences between MBA Finance vs. FinTech
The first point in the MBA finance vs. IT comparison is in their respective focus areas. An MBA in finance is a traditional program while an MBA in FinTech is an intersection of technology and finance, as its name would suggest.
| Area of Difference | MBA in Finance | MBA in FinTech |
|---|---|---|
| Focus Areas | · Financial Management· Investment Analysis· Corporate Finance· Accounting· Banking | · Blockchain· Digital Banking· AI in Finance· Cryptocurrencies· Financial Data Analytics |
| Core Syllabus Components | · Core Financial Theory· Risk Management· Budgeting· Taxation· Portfolio Management | · Digital Payments· Financial Software· Big Data· AI and Machine Learning (ML)· Blockchain Applications· Tech-Based Innovation |
| Principal Job Roles following Graduation | · Financial Analyst· Investment Banker· Corporate Finance Manager· Risk Analyst· Auditor | · FinTech Product Manager· Blockchain Consultant· Digital Banking Analyst· AI/Data Specialist· Financial App Developer |
| Chief Recruiting Sectors | · Banking· Consulting· Insurance· Investment Firms | · Startups· Payment Platforms· Digital Banks· Tech-based Financial Services Providers |
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Read More: MBA in Banking & Financial Services vs. MBA in Finance
Curriculum of MBA Finance vs. FinTech
The curriculum of an MBA in finance program differs significantly from that of a FinTech MBA program because their focus areas are different. The following table will provide you with a better idea of the same:
| Semester | MBA in Finance | MBA in FinTech |
|---|---|---|
| Semester 1 | Entrepreneurial PracticeBusiness Communication (Writing Across the Curriculum or WAC)Managerial EconomicsFinancial AccountingData Visualization (Excel/Tableau)Organizational BehaviorMarketing Management | Entrepreneurial PracticeBusiness Communication (WAC)Managerial EconomicsFinancial AccountingData Visualization (Excel/Tableau)Organizational BehaviorMarketing Management |
| Semester 2 | Business Research Methods (R/Python)Operation ManagementHuman Resource ManagementManagement AccountingFinancial ManagementLegal Aspects of BusinessBusiness Communication (Variance at Completion or VAC) | Business Research Methods (R/Python)Operation ManagementHuman Resource ManagementManagement AccountingFinancial ManagementLegal Aspects of BusinessBusiness Communication (VAC) |
| Semester 3 | Core Subjects Strategic ManagementTerm Paper Electives/Specialization Subjects Security Analysis and Portfolio ManagementMergers and AcquisitionsTaxation ManagementInternal Audit and Control | Core Subjects Strategic ManagementTerm Paper Electives/Specialization Subjects Database Management SystemsSoftware EngineeringTechnology ManagementBusiness Intelligence and Tools |
| Semester 4 | Core Subjects International Business ManagementProject Electives/Specialization Subjects International Financial ManagementTreasury ManagementMerchant Banking and Financial ServicesInsurance and Risk Management | Core Subjects International Business ManagementProject Electives/Specialization Subjects Electronic Commerce (E-Commerce)FinTech Payments and RegulationsCryptocurrency and BlockchainEnterprise Resource Planning |
An Interesting Read: MBA IT & FinTech course details
Career Path for MBA in Finance vs. FinTech with Salaries
The career prospects of an MBA in finance and an MBA in FinTech vary significantly because of the differing focus and nature of the programs. The following table will provide you with a better idea of MBA FinTech vs. finance salary.
| MBA in Finance | MBA in FinTech | ||
| Job Role | Salary | Job Role | Salary |
| Corporate Finance Manager | INR 17L | IT Risk Manager | INR 24L |
| Investment Banker | INR 11L | Quantitative Analyst | INR 17L |
| Credit Analyst | INR 9.1L | IT Manager | INR 12.4L |
| Financial Risk Manager | INR 9L | Project Manager | INR 11.8L |
| Private Equity Analyst | INR 7L | Compliance Officer | INR 7L |
| Financial Analyst | INR 6.5L | Financial Analyst | INR 6.5L |
| Financial Planner | INR 4L | Cybersecurity Analyst | INR 6L |
The following table shows the sectors where these professionals are employed the most:
| MBA in Finance | MBA in FinTech |
|---|---|
| BankingInsurance Real Estate Private Equity Investment Banking Financial Planning Corporate Finance Finance Consulting FinTech | Banking Cybersecurity Consulting E-Commerce Investment Management Insurance Technology Blockchain and Cryptocurrency Financial Management Financial Technology |
Check This Out: Why choose an MBA in Finance?
How to Choose the Right MBA for You between Finance and FinTech?
It is for you to decide which is better between MBA finance and FinTech – the decision depends on your background, interests, and career goals as an early-to-mid-career professional.
If you’re interested in working in conventional financial roles like investment banking, financial planning, corporate finance, and risk management, the right option for you will be an MBA in finance. These programs offer you in-depth knowledge and training in financial theory, strategic decision-making, and markets.
However, if technology-driven disruption in finance interests you more, you must pursue an MBA in FinTech. This includes areas such as blockchain, digital payments, AI, and financial innovation. These programs are the best options for students with a strong interest in digital finance and/or a tech background.
Your academic background is also an essential factor in such a choice. MBAs in finance are a better option for students who have graduated from economics or commerce programs. At the same time, MBAs in FinTech are better for professionals focused on engineering, data science, and information technology (IT).
In the end, the right MBA is in line with your long-term goals, the impact you want to make on the financial world, and the industries you prefer to work in.
Also Read: Important concepts to learn during an MBA in IT and Fintech
Conclusion
Both the MBA in Finance and the MBA in Information Technology & FinTech from Manipal University Jaipur (MUJ) are great options for interested students. Available on the Online Manipal platform, these programs provide students with better career prospects, valuable networking opportunities, and improved earning potential, among others. Both these programs are designed to equip you with the knowledge and skills you need to excel in diverse financial and technological fields. They both emphasize industry relevance and practical applications strongly and, thus, can help you achieve leadership roles in your preferred domains.
FAQs
1. What is the difference between an MBA in Finance and an MBA in FinTech?
An MBA in finance focuses on standard financial management, while an MBA in FinTech emphasizes technological integration in the domain of finance. These programs also offer separate career paths as a result.
2. Which has better career prospects: Finance or FinTech specialization?
Both these MBA specializations offer commendable career opportunities. However, the most preferred choice among them depends on what you are interested in. For example, an MBA in FinTech can lead you to digital banking, Blockchain innovation, and AI-related careers.
3. What are the job roles after an MBA in Finance vs. FinTech?
MBA graduates specializing in finance usually work in domains like corporate finance and investment banking, while MBA graduates who specialize in FinTech work primarily in FinTech firms. Following are the top job roles for MBA in finance graduates in India:
- Investment Banker
- Financial Analyst
- Portfolio Manager
- Corporate Finance roles
- Credit Manager
The leading job roles for MBAs in FinTech may be enumerated below:
- FinTech Product Manager
- Blockchain Developer
- Climate Finance Strategist/Environmental, Social, and Governance (ESG0 Analyst
- Crypto Compliance Officer
- Know Your Customer KYC/Anti-Money Laundering (AML) Analyst/Manager
4. Is an MBA in FinTech suitable for someone without a tech background?
Students who wish to succeed in an MBA in FinTech must possess a combination of technical, soft, and financial skills. They must have a decent understanding of programming languages like Python, R, Java, and Structured Query Language (SQL).
5. Which industries hire graduates from Finance and FinTech MBAs?
The top recruiters of MBAs in finance are sectors like banking, insurance, and real estate. On the other hand, MBAs in FinTech are recruited mainly by industries such as banking, cybersecurity, and consulting.
6. What are the average salary differences between Finance and FinTech MBAs?
Depending on the job role they are working in, an MBA in Finance can earn anywhere between INR 4 lakh and INR 17 lakh a year on average. For an MBA in FinTech, this figure ranges between INR 6 lakh and INR 24 lakh.
7. Which is better for working in banks: Finance or FinTech MBA?
An MBA in Finance is a better option than an MBA in FinTech when you are looking to work in a bank. This is also applicable to other conventional financial sectors such as wealth management and investment.
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