Career in MBA In Banking & Finance (BFSI) – Careers, Market Trend, Growth, Salary & Top B-Schools
MBA (BFSI) is a two-year post-graduate degree course. After completing this course, candidates may work in areas like private banks, government banks, educational Institutes, BPOs, Finance Departments, Industries, Stock Exchanges, etc. Admission to this course is based on management entrance exams, generally. It is one of the most popular branches of MBA and there are some of the best MBA in Banking and Finance colleges in Bangalore that offer Master of Business Administrator in Banking and Finance degree programs.
Below we will discuss various aspects of a career in MBA in Banking & Finance (BFSI), in detail.
Table of Contents
- BFSI Sector Market Growth & Trends
- Career Growth In BFSI Sector
- Course content for MBA in Banking and Finance
- Jobs after MBA in Banking and Finance
- Salary of MBA in Banking and Finance
- Top Recruiters for MBA in Banking and Finance
- Top Colleges in India offering MBA in BFSI
- Top Colleges in Bangalore offering MBA in BFSI
- FAQs
BFSI Sector Market Growth & Trends
- The banking sector comprises 90% of the country’s total financial services.
- It has shown the potential to become the fifth largest banking industry in the world by 2020.
- According to Skills India Report (ISR) 2022 report that around 55.09% of the MBA holders are employable. Sector-wise, MBA in Banking and Finance, IT, and International Business, Marketing and Finance are the top MBA specializations when it comes to recruiting.
- The Indian Banking sector is vast. It holds 27 public sector banks, 20 private sector banks, 42 foreign banks, 61 Regional Rural Banks and 90,000 credit cooperatives.
- The assets of the banking sector reached USD 1.8 trillion in FY14 from USD 1.3 trillion in FY10, showing tremendous growth in that time.
- The BFSI sector, thus, holds plenty of opportunities for those who hold expertise in this field.
- According to DNA India’s article, MBA in Banking and Finance program covers every key area of investment banking and financial banking. New-age MBA banking and finance professionals are in high demand like never before.
Career Growth in MBA Banking and Finance Sector
- Postgraduates in BFSI have opportunities in both the government and private sector.
- Job roles for MBA graduates in BFSI usually include Investment Bankers, Loan Officers, Financial Consultant, Chief Financial Officer, Business Relationship Manager, Academician, etc.
- Also, other career prospects are in Marketing Management, human resource management, IT in Banking, Corporate Restructuring Management, etc.
- Top places to join include, Private Banks, Government Banks, Educational Institutes, BPOs, Banking Sectors, Finance Departments in Industries, Stock exchanges etc.
- Job options for MBA BFSI also include titles such as Accounts Manager, Business Analyst, Equity Research Analyst, Investment Banker, Corporate Analyst, etc.
- One of the most popular options after MBA BFSI is the Charter Accountant job.
- Higher Studies: For further studies, students can go for a doctorate in the banking and finance field. Such courses also help in furthering one’s career. As per The Cambridge MBA: 2021 employment report, 85 percent of MBA professionals receive job offers after 3 months.
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Course content for MBA in Banking and Finance
Below are the core subjects in MBA banking and finance that are taught in almost all the MBA colleges in Bangalore.
- Money and Banking.
- Financial Risk Management.
- Management Control System.
- International Finance.
- Bank Management.
- Fixed Income Markets.
- Structured Finance.
- Infrastructure and Project Finance
Jobs after MBA in Banking and Finance
Popular Job Roles in BFSI:
- Financial Analyst
- Financial Manager
- Accounts Assistant
- Investment Assistant
- Market Analyst
- Business Analyst
- Accounts Manager
- Marketing Manager
- Executive Assistant
- Cashier
- Equity Research Analyst
- Investment Banker
- Corporate Analyst etc.
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Salary of MBA in Banking and Finance
BFSI sector offers a wide array of opportunities.
- The salary range differs from job role to job role and depends on the type of organization as well.
- Average pay scale ranges from 2, 50,000 Rs to 4, 50,000 Rs per annum.
- Experience makes a huge difference in the range of salary offered for a position.
According to Payscale, the average MBA in Banking and Finance salary in India is INR 743k/ year.
The average salary of some roles is given below:
| Roles | Salary (in INR) |
|---|---|
| Financial Analyst | 3.5 LPA |
| Branch manager | 6.0 LPA |
| Relationship Manager | 6.3 LPA |
Top Recruiters for MBA in Banking and Finance
Top companies hiring MBAs in Banking and Finance are:
| Top MBA inBanking & Finance Recruiters |
|---|
| Merrill Lynch and CO., Inc, – Investment Banking |
| Accenture – Consulting |
| Johnson and Johnson- Corporate |
| Deutsche Bank – Investment Banking |
| American Express – Corporate |
| Abbott – Corporate |
| Microsoft Corporation – Technology |
| Ernst & Young – Consulting and accounting |
| HDFC Bank |
| State Bank of India |
| Hewlett Packard – Corporate |
| com – Technology |
| Fidelity Investments – Investment Management |
Top Colleges in India offering MBA in BFSI
Here is the list of top and best MBA in Banking and Finance colleges in India as per Outlook-ICARE’s annual rankings 2022.
| Rank 2021 | Name of Institute | State |
|---|---|---|
| 1 | GREAT LAKES INSTITUTE OF MANAGEMENT | Tamil Nadu |
| 2 | T A PAI MANAGEMENT INSTITUTE | Karnataka |
| 3 | LOYOLA INSTITUTE OF BUSINESS ADMINISTRATION | Tamil Nadu |
| 4 | IFIM College Bangalore | Karnataka |
| 5 | PES UNIVERSITY | Karnataka |
| 6 | SHRI DHARMASTHALA MANJUNATHESHWARA INSTITUTE FOR MANAGEMENT DEVELOPMENT (SDMIMD) | Karnataka |
| 7 | JSS ACADEMY OF HIGHER EDUCATION & RESEARCH | Karnataka |
| 8 | SRM INSTITUTE OF SCIENCE AND TECHNOLOGY | Tamil Nadu |
| 9 | RAJAGIRI CENTRE FOR BUSINESS STUDIES | Kerala |
| 10 | JAIN UNIVERSITY | Karnataka |
| 11 | INDUS BUSINESS ACADEMY (IBA) | Karnataka |
| 12 | SCMS COCHIN SCHOOL OF BUSINESS | Kerala |
| 13 | INSTITUTE OF PUBLIC ENTERPRISE (IPE) | Telangana |
| 14 | SYMBIOSIS INSTITUTE OF BUSINESS MANAGEMENT | Telangana |
| 15 | VIGNANA JYOTHI INSTITUTE OF MANAGEMENT | Telangana |
| 16 | SATHYABAMA INSTITUTE OF SCIENCE AND TECHNOLOGY | Tamil Nadu |
| 17 | JSS CENTRE FOR MANAGEMENT STUDIES | Karnataka |
| 18 | HINDUSTAN INSTITUTE OF TECHNOLOGY & SCIENCE | Tamil Nadu |
| 19 | CMR UNIVERSITY | Karnataka |
| 20 | RV INSTITUTE OF MANAGEMENT | Karnataka |
| 21 | XAVIER INSTITUTE OF MANAGEMENT AND ENTREPRENEURSHIP (XIME) | Karnataka |
| 22 | INSTITUTE FOR TECHNOLOGY & MANAGEMENT | Tamil Nadu |
| 23 | KRUPANIDHI GROUP OF INSTITUTIONS | Karnataka |
| 24 | SRM EASWARI ENGINEERING COLLEGE | Tamil Nadu |
| 25 | SONA SCHOOL OF MANAGEMENT | Tamil Nadu |
| 26 | INTERNATIONAL SCHOOL OF MANAGEMENT EXCELLENCE | Karnataka |
| 27 | DR M G R EDUCATIONAL AND RESEARCH INSTITUTE | Tamil Nadu |
| 28 | SIVA SIVANI INSTITUTE OF MANAGEMENT | Telangana |
| 29 | INSTITUTE OF HEALTH MANAGEMENT RESEARCH (IIHMR BANGALORE) | Karnataka |
| 30 | TKM INSTITUTE OF MANAGEMENT | Kerala |
| 31 | ITM BUSINESS SCHOOL | Telangana |
| 32 | SESHADRIPURAM INSTITUTE OF MANAGEMENT STUDIES | Karnataka |
| 33 | PRESIDENCY UNIVERSITY SCHOOL OF MANAGEMENT | Karnataka |
Top Colleges in Bangalore offering MBA in BFSI
Bangalore is the place of the most prominent and affordable MBA in Banking and Finance colleges. Pursuing Master in Banking and Finance is the first sought choice over Finance and marketing specialization under MBA course owing to its easy syllabus and top MBA colleges in Bangalore offer this two year degree program at low fee.
Here is the list of top MBA Banking and Finance colleges in Bangalore:
- IIM Bangalore: Indian Institute of Management
- Central Government Autonomous Institute
- TAPMI Manipal: T A Pai Management Institute
- AICTE approved PGDM College
- SIBM Bangalore: Symbiosis Institute of Business Management
- Symbiosis International University (SIU) Pune MBA college
- Amrita School of Business, Bengaluru
- Amrita Vishwa Vidyapeetham University, Bengaluru
- XIME Bangalore: Xavier Institute of Management and Entrepreneurship
- Christ University Bengaluru: Institute of Management
- Christ University Bangalore MBA college
- Alliance School of Business – Alliance University
- Alliance University Bangalore MBA college
- JAGSOM Bangalore: Jagdish Sheth School of Management Bangalore
FAQs
What is the scope of MBA in banking and Finance?
Top MBA BFSI job profiles are – Accounts Manager, Marketing Manager, Executive Assistant, Marketing Analyst, Business Analyst, Finance Manager, Cashier, Equity Research Analyst, Investment Banker, Corporate Analyst.
Is an MBA in banking and Finance good?
Top MBA colleges rank Banking and Finance as one of the most popular courses among MBA students. Over the past decade, the demand for Banking, Finance, and Insurance Management professionals has steadily increased.
What is the starting salary of MBA banking and Finance?
According to Payscale, the average MBA in Banking and Finance salary in India is INR 743k/ year.
Can I get a Bank job after MBA Finance?
Various Nationalized, Private, and foreign banks around the world hire those candidates who have undergone Master of Business Administration in Banking and Finance from any recognized MBA Banking and Finance colleges in India.
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