Finance is the lifeline of any business. It deals with the incoming, management and utilization of the resources of the company. Finance is responsible for the control and management of investments, without which a company cannot function. Hence, Mastering in Business Administration, with finance as your specialization, gives you a lot of career possibilities as there is always scope for finance in the world of business. Every company needs a finance, manager.
One needs to gain some experience in finance management of an actual business, company or an institution in case of MBA in Finance. This is a field where the application of theory in practice, along with experience, is the key to success. Even then, there are a lot of job openings in various sectors for MBA Finance freshers, who are willing to take on these students and mould them into future leaders. These students receive top notch internship opportunities during their course of study and hence, many graduates are taken in right after the completion of their course, for high paid jobs in finance sectors.
MBA Finance is Helpful in Banking
Banking is one such sector, where there are a lot of career possibilities and job openings for MBA finance students. It is one of the ultimate sectors for Finance students. Investments, Loans, finance management, at its best. There are various job descriptions for such students on multiple online as well as offline job portals.
Various multinational as well as national and local companies, are frequently looking for freshers to hire them as trainees. Each company has a definite requirement of a particular skill set. Students should also keep in mind that with the advent of technology, digitalization has been taking place in every sector. Those traditional book keeping methods are now out dated. Hence, basic knowledge and knowhow of upcoming financial software such as Oracle Financial Software, Tally, etc. which are being used by companies these days to manage their accounts and investments, will help land great, high paid jobs even more easily.
Talking about the banking sector, there are certain fixed job profiles for MBA Finance freshers in the banking sector. Few of these job profiles, along with their job descriptions are listed as follows:
Analyst:
This is one of the most common and the most popular posts for a Finance student. Companies, including various popular Multinational Companies (MNCs), are frequently looking for a financial analyst to manage their investments. The basic required skill set for this post is financial research, taxation and accounting, equity management, knowledge of the capital market, financial modelling, research and analysis, investment management, treasury and financial reporting. It is an advisory role that requires a strong analytical and research background.
For being a Financial Analyst in the banking sector, one is required to have skills like Mutual fund management and investment banking. Knowledge of foreign exchange and direct foreign investments can help the students land a job easily in a Multinational Company. The main responsibilities of such a financial analyst would be concerned with mutual fund management, regulating the accounts and MIS of different companies associated with the bank, taking care of the investment and capital requirements of different companies, taxation and accounting, familiarizing with legal and tax issues and finally analysis and reporting the entire financial processes of the bank.
Associate:
A Finance Fresher can also receive the opportunity of becoming an associate financial manager or a branch manager of a bank. The main skills required for this job would include basic accounting and taxation skills, banking skills, good communication skills, knowledge of any required banking software, etc. After a definite period for training, they can be directly appointed as Associate Finance Manager or a Branch Manager of the particular bank and would share the same responsibilities as the Finance Manager. This post can be an extremely good learning opportunity if one wishes to make a career in Banking. They can go on to become the regional heads of the bank or finance managers of the entire division.
Trainee:
It’s also possible to be appointed as a trainee in a bank and be later on appointed for a particular job profile based on the acquired skills. The responsibilities for such a post include regulating accounting and MIS processes, executing orders based on client requirement, carrying out testing and risk based supervision, co-ordinating with various stakeholders, daily processing and confirmation of trade, etc. These kinds of jobs aren’t exactly high paying, but they help a student in acquiring sufficient skills that may help them get a good job in any leading MNC in the future.
Apart from this, banks also hire freshers to assist them in compilation of Internal and Regulatory Management information service, carrying of regulatory research based on various amendments and modifications, for SEBI and RBI, carrying out Risk based supervision on site etc. Banks also tend to consider Finance freshers for positions like head cashier/banker.
Thus, there are a lot of job opportunities, some high paid, while some extremely beneficial for acquiring required skill sets, for MBA Finance freshers, in the banking sector.
