Among the many 3 AM thoughts that an MBA student might have while pondering (and panicking) about their future, one of the most popular is whether or not an MBA in Finance would land them a job. Although your panicked brain might blur out the myriad of possibilities that an MBA in finance offers, we are here to remind you that you can put that thought to rest.
From a high-paying job after graduation to the chance to be your own boss, an MBA in finance will offer you a plethora of opportunities. However, the holy grail of the banking industry is one of the most popular avenues that many MBA in finance graduates pursue. Banking is one of the most demanding, challenging, and lucrative professions in the business world. It provides an unrivaled chance to learn about various professions and firms, as well as some of the best career advancement opportunities and unparalleled exit choices. Despite the fact that some positions have drifted out of vogue due to past excesses, newer chances continue to grow.
But where exactly does an MBA in finance land you?
OPPORTUNITIES FOR AN MBA IN FINANCE GRADUATE THAT WILL HELP YOU BID ADIEU TO CAREER NIGHTMARES
An MBA in Finance provides learners with the expertise and perspective needed to apply business knowledge in a financial setting. While optimising your financial literacy, business concepts, and comprehension of the country’s economy is a compelling reason to get an MBA in finance, here are details of five job opportunities for MBA in finance graduates that can help you shift your 3 a.m. scary career thoughts into a unicorn and rainbow dream:
1. INVESTMENT BANKING
An MBA in finance helps you to delve into Investment banking which is a discipline of the banking industry that allows businesses, governments, and other organisations to generate and raise finances through underwriting, securities issuance, or a combination of the two. It also assists companies with mergers and acquisitions (M&A) as well as other auxiliary services such as derivatives trading, stock issuance, and placement. An Investment Banker earns one of the highest salaries of any finance-related employment in the world. An IB’s average annual salary in India can range from $32066.70 to $64133.40. As a managing director in the United States, you can easily expect to earn at least $125,000 as a base salary and up to $10 million.
2. LOAN OFFICER
Loan officers who work for banks and other financial institutions to assist customers in locating and securing loans is yet another position that an MBA in Finance can help you grab. A loan officer’s average annual pay in the United States is $179,896. This does not include the commission compensation, which can be as high as $24,000 on average.
3. PRIVATE BANKING
Private banking includes serving high-net-worth individuals with banking, investing, tax management, and other financial services (HNWIs). Private banking, unlike large-scale retail banking, focuses on offering more personalised financial services to its clientele through banking personnel who are predominantly trained to provide such services. Private bankers at the entry-level can earn up to $49,132 per year in commissions and incentives, with total annual remuneration ranging from $40,000 to $126,000. In addition, the average yearly base pay for a private banker is $68,553, with bonuses and commissions as supplementary compensation. And what can help you get to this post? An MBA in finance!
4. CHIEF FINANCIAL OFFICER
The chief financial officer (CFO) is a senior executive who oversees a company’s financial operations. The CFO’s responsibilities include managing cash flow and financial planning, as well as analysing and proposing remedial actions for the company’s financial strengths and shortcomings. A CFO’s average monthly payment is approximately thousand dollars a month. The precise wage is determined by the candidate’s experience, qualifications, and place of employment.
5. FINANCIAL MANAGERS
Financial managers provide financial analyses, direct investments, and devise plans and strategies for a company’s strategic and long financial success. They may work in hotels, banks, or insurance businesses, where they collaborate closely with management. In India, the average compensation for a finance manager is around $13,000.
These are only the beginning of a long list of opportunities in the banking industry for MBA in finance graduates. However, securing such positions necessitate a long journey wherein you must be properly exposed and trained with excellent resources. Although it might seem like a strenuous journey, Praxis has developed a sui generes Post Graduate Diploma in Management which will offer you an unparalleled and adequate platform to develop the necessary skills and proficiencies to explore the limitless ether of management. So the next time you open your pandora’s box of career anxiety at three in the morning, take a deep breath and read this blog once again to calm your nerves!
Also read, MBA in Banking and Finance salary in India.
Learn more about the Data Science Course syllabus and placement details of Top-ranked Data Science Course in Kolkata and Data Science Course in Bangalore
Image by Ronald Carreño from Pixabay