We all are well aware that finance is a fundamental requirement for any business; therefore, it does not come as a surprise that MBA Finance is one of the most opted specializations among MBA students. Every business requires efficient financial management in order to properly allocate funds to ensure optimum utilization for the growth of the business further. The success of the business could very well be determined by the technical know how of financial risks and rewards associated with various aspects of business. Let’s list out the benefits of pursuing MBA in finance:-
- · A well established tool for advancement in your career: It’s a well known fact that a post graduation improves the chances of promotions therefore it’s no wonder that engineers are also opting for finance these days, brushing aside general notions like finance is opted by individuals possessing a commerce background. Financial knowledge is indeed a desired qualification at the top of the corporate ladder.
- · Building an individual business?: MBA degree provides an overall foundation that makes you aware as to how to run your own firm efficiently, to become more aware of the strategies required to stay afloat in this dynamically changing market environment, to better gauge what your competitors are up to, better fund management, efficient risk, etc.
- · Heftier pay checks: Ask anyone why he or she wants an MBA? The most common answer you will stumble upon is more salary. Guess what?? That’s absolutely right in terms of course in finance. Experienced professionals command much more salaries upon completion of the MBA.
- · Multiple opportunities in Finance: Finance provides multiple opportunities, offering positions like
-Risk and Insurance Managers
– Management Consultants
– Investment Bankers
– Chief Financial Officers
– Treasurers and Finance Officers
– Cash Managers
– Accounting Managers
– Corporate Controllers
– Credit Managers and Specialists
– Investment Banking Associates
- · How to go about pursing MBA Finance??
First course of action is to determine the type of MBA most suitable to you. Traditional 2 years full time MBA, executive MBA (preferred by working professionals) or even part time MBA. An educational institution should be carefully selected by looking in on aspects like MBA course should be affiliated to a recognized university, course description, quality of teaching faculty, campus placements to name a few. Most reputed colleges, schools and universities base their selection process on the entrance exam (GMAT).
Graduate Management Admission Test or GMAT as it is commonly known, is your ticket to almost any college across the world. The patterns of this exam include testing your data interpretation skills, quantitative aptitude, verbal ability and logical reasoning. Other important criteria are work experience, essays, academic transcripts, extracurricular activities, community service activities etc. However, the selection criteria may vary from one school to another, for example, certain schools do not weigh GMAT scores as heavily as other criteria like work experience, therefore it is of paramount importance to know the admission procedure of your desired educational institution before applying.