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Jagpreet
06 September, 2024
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What comes to mind first when you think about banking and finance? You might think of sitting in an office, working a 9 to 5 job, depositing money, and keeping records of accounts. Right? But banking and finance are much more than that. They are often called the backbone of a country’s economy. It would not be wrong to say that if a country does not have a well-functioning banking sector, its economy can be significantly impacted.
According to a report published by Statista , The Indian banking market is growing in terms of the adoption of Digital banking. There are increasing consumers that are using mobile banking. Indian banking is set to grow significantly, with Net Interest Income projected to reach $459.60 billion by 2024.
These facts and figures show the potential of the Banking and Finance sector. If you are looking to build a career in the Banking and finance sector or just want to know more about it, You can pursue an MBA in Banking and Finance Management. After doing this course you will be eligible for various career options in this sector. In this blog, we will explore the top career options after an MBA in Banking and Finance Management.
Financial Analysts are the detectives of the business world. As a Financial Analyst, you will be working with numbers. You will be searching trends and patterns. It is like you will figure out if a company is a good investment. This role will require strong analytical skills and the ability to tell a story with data.
Your roles and responsibilities will include:
Data Collection: You will gather financial information from different sources like accounts, reports, and market data.
Number Crunching: Once you have the data, you will use software and formulas to analyse it. You will look for patterns, trends, and anything unusual.
Financial Forecasting: Now, you will make predictions about a company’s future financial performance based on your analysis.
Average salary is ₹6 LPA and the highest salary is ₹12 LPA.
Investment Bankers are the matchmakers of the financial world. As an Investment Banker, you will be helping the companies raise money by issuing shares or bonds. It is a high-pressure job, but the rewards can be huge. If you are someone who has a knack for deal-making and enjoys the thrill of the financial markets, this could be your calling.
Your roles and responsibilities will include:
Financial Analysis: You will spend a lot of time with numbers, building financial models, and valuing companies. This will be the backbone of your job.
Deal Structuring: Once you understand a company’s financial health, you will start working on deals. This will involve figuring out how to finance a takeover, an IPO, or a debt restructuring.
Client Meetings: You will meet with clients all the time. This could be to pitch new ideas, discuss deal progress, or simply build relationships.
Average salary is ₹17 LPA and the highest salary is ₹55 LPA.
Financial Consultants as we know them are the personal and businesses’ trusted advisers. Being a Financial Consultant, your job will be to assist people in making wise financial choices whether for retirement life, for a certain event or for others.
Your roles and responsibilities will include:
Investing Wisely: For the common people, sometimes investing can be complex, you will be guiding them on which products to invest in or avoid based on their risk appetite. You will categorise areas such as stock, bond, and property among others.
Tax Planning: You will contribute to structure finances in such a way that will result in reduction of tax computations. You will be an expert in tax Laws, thus you will look for avenue to cutting the taxes.
Retirement Planning: In different ways, you will assist people make decisions of how much to save, where to invest and when to start withdrawing the money.
Average salary is ₹6 LPA and the highest salary is ₹18 LPA.
Risk Managers are the guardians of a company’s financial health. As a Risk Manager, you will identify potential risks and develop strategies to protect the business. It is a challenging but crucial role, especially in today’s uncertain economic climate.
Your roles and responsibilities will include:
Identifying Risks: As a Risk Manager, You will always on the lookout for things that might go wrong. This could be anything from a cyberattack to a supply chain problem or even a natural disaster.
Assessing Risks: Once you spotted a risk, you will need to figure out how big of a deal it is. They look at how likely it is to happen and what the impact would be if it did.
Monitoring Risks: The job does not end after a plan is in place. You will keep a close eye on things to see if the risks are changing. You might need to update your plans as things change.
Average salary is ₹12 LPA and the highest salary is ₹30 LPA.
Corporate Finance Managers are also among the key financial pillars of any firm. The main activities that you will be performing in your role as a Corporate Finance Manager will include financial planning, budgeting, and analysis activities. This position combines elements of planning and getting things done.
Your roles and responsibilities will include:
Financial Planning and Analysis: You are going to design financial constructions, prepare balance of resources, and predict capabilities in the future. For example, you could use the model to compare possible sales growth patterns in order to determine their effect on profit.
Financial Reporting: These include profit and loss accounts, balance sheet, and cash flow statements among others. Out of all the financial statements, these provide a good glimpse on the health of the company.
Risk Management: Here you will name possible financial threats like instability of stock market or shrinkage of economy, and state ways of its mende.
Raising Capital: If more money in the company is required, then you might assist in loans, issues of shares or other financing activities.
Average salary is ₹20 LPA and the highest salary is ₹35 LPA.
Financial Advisors are usually individuals who give individual advice to a client concerning finances. People entrust you and their money as a Financial Advisor, and you need to come up with an investment plan to achieve your client’s goals. You will be addressing trust as well as understanding clients’ needs as these are key to achieving success in the given position.
Your roles and responsibilities will include:
Understanding Your Money Life: First, the client will reveal some of these factors; their income, their expenditure, their balance sheets, and their objectives.
Setting Financial Goals: Once you know your situation, you will assist them to define their financial objectives for the targeted amounts. For instance, in saving for a home, preparing for retirement or repaying of a certain debt.
Average salary is ₹4 LPA and the highest salary is ₹8 LPA.
Hedge Fund Managers invest other people’s money in a variety of assets to generate high returns. It’s a high-risk, high-reward career path that requires exceptional investment skills and a strong risk appetite.
Your roles and responsibilities will include:
Building an Investment Strategy: You will become the brains behind the fund. You will need to come up with a plan on how to make money. This will involve studying the market, looking at trends, and figuring out which investments will be profitable.
Picking Investments: Once you have a plan, you will pick what to invest in. This could be stocks, bonds, currencies, or other assets. You need to know a lot about these things to make good choices.
Managing Risk: Investing is risky. Your job is to protect the fund’s money from losses. You use different tools and strategies to manage risk.
Average salary is ₹25 LPA and the highest salary is ₹94 LPA.
Commercial Bankers build relationships with businesses to provide loans, credit facilities, and other financial services. You will need to understand the needs of your clients and be able to assess creditworthiness.
Your roles and responsibilities will include:
Relationship Building: You will meet with business owners, managers, and financial directors to understand their needs. For example, you might chat with a small business owner about their plans to expand or help a large corporation manage its cash flow.
Credit Analysis: You will assess a company’s financial health to decide if they qualify for loans. This involves crunching numbers, looking at past performance, and predicting future trends.
Loan Structuring: When a business needs a loan, you design a package that suits their needs. This might involve choosing the right interest rate, repayment terms, and any extra conditions.
Average salary is ₹2 LPA and the highest salary is ₹6 Lakhs per annum.
*Note- The salaries listed above may vary depending on location, organisation, and level of experience*
An MBA in Banking and Finance Management is a versatile degree that can lead to a wide range of exciting careers. The key to success is finding a role that aligns with your interests and strengths. Whether you’re a number cruncher, a relationship builder, or a risk-taker, there’s a place for you in the world of finance.
Remember, your MBA is just the beginning. Continuous learning and professional development are essential for career growth. Stay curious, keep exploring, and build a fulfilling career in the dynamic world of finance.
There are some of the most common jobs that you can do after an MBA in Banking and Finance such as Financial Analyst, Banker, and Risk Manager.
Once you have completed your MBA degree in finance, you can definitely try your luck in the banking sector.
If you are more interested in exploring jobs opportunities in Banking and Finance, this course may be best choice for you. It will open the doors of the Banking and Finance service industry.
