What are the benefits of doing an MBA in BFSI?

The Banking, Financial Services, and Insurance (BFSI) sector of the economy are evolving quickly. The industry has changed its focus in today’s market, with new private firms taking the lead. As a result, in the challenging BFSI sector, there is an increasing need for knowledgeable and highly skilled management experts with expertise in banking and finance. According to a Bank of Baroda Economic Research, the IT, finance and banking sectors constituted 93% of the 3.82 lakh net increase in jobs in India from 2021 to 22. 

The MBA in BFSI curriculum equips individuals with the knowledge and abilities necessary for a lucrative career in the banking and finance industries. It will help individuals gain the relevant experience to get into managerial roles in the BFSI sector and have a successful career.

You can also read, Why choose an MBA in BFSI.

Advantages of doing an MBA in BFSI

Earning an MBA in BFSI has several benefits, as you can quickly advance your career, find well-paying employment, and become an in-demand professional. The following are the main advantages of pursuing an MBA in BFSI: 

Makes you distinctive

Your ability to stand out from the crowd will be substantially enhanced by pursuing an MBA in BFSI. You can distinguish yourself with a distinct conceptual specialty on the topics important to excel in the sector. Therefore, this qualification will provide you with a significant edge and allow you to advance your career in managerial positions.

Stay well-versed with current trends

You can learn about the crucial topics of the banking and finance industry, such as financial accounting, analytics, and others, with an MBA in BFSI. It is among the key benefits of an MBA in banking and finance, as you can stay well-versed with current trends and technical breakthroughs in the banking and financial sector.

Career stability

Banking and insurance organizations have been present for generations and will continue to function as long as people promote saving, anticipate good interest rates, take out loans, require medical care, drive vehicles, own properties, and operate businesses. Thus, an MBA in BFSI will help individuals to have a stable career in the BFSI sector.

Lucrative career opportunities 

The BFSI industry is evolving rapidly with new technologies; thus, there is a huge demand for skilled professionals in the sector. An MBA in BFSI will help individuals to choose from various career opportunities and will help them launch their careers in the sector.

Jobs you get after MBA in BFSI

 

Following are the main jobs after an MBA in BFSI with their average annual salary:

• Bank Manager 

Bank managers are usually in charge of all operations, including market analysis, financial forecasting, setting financial goals, and meeting branch business goals. They also manage fund allocation and expenditures.

• Financial Accountant 

A financial accountant is in charge of managing an organization’s accounting and financial operations. They evaluate the company’s financial viability and give other divisions access to financial data to plan budgets and make investments. 

• Investment Banker  

Investment bankers use their expertise in the financial services industry, analytical prowess, and effective interpersonal skills to support organizations in raising capital and for mergers and acquisitions.

• Financial Risk Manager  

The Financial Risk Manager’s duties involve analyzing business risk, recognizing threats to assets, and providing solutions to hazards to the company. In addition, they create plans to offset the consequences of changing market conditions on firms.

• Financial Manager  

Financial managers monitor the finances of a business and work to maintain sustainability. They oversee important tasks like keeping tabs on cash flow, determining profitability, controlling spending, and creating reliable financial data. 

• Financial Consultant 

A financial consultant assists an organization in increasing shareholder value and improving capital efficiency. Their job may entail assisting in forming a mergers and acquisitions package or developing a compensation strategy.

Job roles	Average salary
Bank Manager	₹ 7.5 LPA
Financial Accountant	₹ 4.0 LPA
Investment Banker	₹ 6.0 LPA
Financial Risk Manager	₹ 10.6 LPA
Financial Manager	₹ 13.0 LPA
Financial Consultant	₹ 4.8 LPA

Secure a high-paying job in the banking or finance sector with an MBA in BFSI

The online MBA in BFSI program by Manipal University Jaipur is developed by an expert faculty to help individuals have stable careers in the banking and finance sector. The curriculum and the LMS give professionals a crucial competitive edge in the fiercely competitive banking industry by providing a business model-specific education. The placement assistance program offered by Online Manipal is intended to close the talent gap affecting several sectors and job markets.

To know more, you can read Important concepts to learn during an MBA in BFSI.

Eligibility

• Candidates must have completed their 10 + 2 + 3-year bachelor’s degree in any discipline with 50% aggregate from a recognized institution or university (45% for reserved categories).
• Candidates need to clear the online aptitude test conducted by Manipal University Jaipur as per admission norms to the MBA program (part of the application form)
• Candidates with a valid score (40 percentile) from any aptitude test (CAT/MAT/CMAT/XAT/GMAT) need not appear in the above test

Conclusion

India’s financial sector is foreseen to thrive in the upcoming years due to growing individual incomes, corporate renewal, financial sector deregulation, and the emergence of a more customer-focused, credit-arranged economy. So, to seek employment in the domain, enroll in the MBA in BFSI course from MUJ that equips aspirants with industry-specific business skills.