Though there are many specialization subjects for students who are pursuing Master of Business Administration (MBA) programs, it is Finance which is the most sought after. The popularity of Finance as a specialization topic can be attributed to the fact that one of the biggest crises being faced by today’s world is financial crisis and hence, financial analysts are in great demand. These post graduate courses prepare the students for management posts of mid and senior levels.
Pay Packages
Pay packages in the finance sector for MBA degree holders are one of the best. If the student has completed his / her course from one of the top B-schools and universities, he / she can start with a career offer of Rs 10 – Rs 15 lakhs per annum. Placement in foreign companies for exceptional students would ensure salaries ranging in crores. Financial Analysts start with a pay package of Rs 4 – Rs 5 lakhs per annum while a Credit Analyst and Banking Specialist gets around Rs 5 – Rs 6 lakhs per annum. As they keep going to the higher levels, their pay packages keep going higher.
Where to Find a Job?
After completion of MBA, Asia is one of the best hubs for the best jobs. Since every industry is on a look-out for a good financial expert, an MBA pass out has a great many career opportunities – both in government and private sectors. He / she can be a part of the banking sector or the non-banking sector also. He / she can also be a part of the stock market. An MBA with Finance can also run his own private firm as a CA.
Besides, joining public sectors, an MBA can also join private sector where depending on one’s performance, the career graph grows at a faster rate than in a public sector. Salaries in private sectors are also more lucrative but a job in the government sector ensures security.
Who Can Apply?
Anyone with in interest in finance can opt for a career in stock broking. One has to undergo a training of a minimum of six months under a brokerage firm before he / she can become a stock broker. A career as a stock broker would provide good career prospects as the market in India is continuously growing. If one is planning his / her career in stock broking, one needs to understand how the Sensex and nifty work and needs to follow the market. Stock brokers buy and sell stocks in the market on behalf of their clients. For this, they need to constantly monitor the fluctuations in the market and act accordingly. At the same time they also have to ensure that their stock trading company is also profiting. Hence, they need to maintain a balance between the two.
How Can One Work as a Broker?
One can work as a full-time service broker or as a discount broker, for private firms or large organizations or for small local brokerages to major firms. Opportunities for dedicated stock brokers are many – they are also getting hired by international firms and opportunities are available in various organizations like investment consultancies, mutual funds, broker firms, pension funds, financial institutions etc. With the Indian economy growing, brokers are engaging specialists who are finance managers, investment planners, financial analysts or capital market analysts for stock markets.
Pay Packages in India
In India, there are 22 stock exchanges with around 7000 listed companies and hence, opportunities are many for the dedicated workers. A stock broker can expect a starting salary of about Rs 20000 to Rs 25000. A specialization in finance can ensure a salary at a higher slab. The average salary of a Stock Broker can be anything between Rs 3.5 lakhs per annum to Rs 4 lakhs per annum. The average salary of a Financial Advisor can be around Rs 3 lakhs per annum while a Relationship Manager can expect as much as Rs 4 lakhs per annum. Of course, experience also counts.
Some of the top companies hiring stock brokers are JP Morgan, India Info line, Sharekhan Limited, Indiabulbs, ICICI Direct, Bajaj Capital and Reliance Money. Another lucrative job prospect for an MBA with finance is in the banking sector – either private or public.
Other Offers
Various options are available if one wants to opt for jobs in banking sectors such as Credit Risk Management Analyst, Investment Banking Associate, Financial Analyst, Branch Manager or Chartered Financial Analyst. Pay packages range from Rs 2 Lakhs to Rs 9 Lakhs. Those joining commercial banks would start their careers in internal auditing, investments, operations and branch supervision.
An MBA Finance student from IIMs can expect job offers from banks abroad such as Fidelity Inc. and JP Morgan Chase. Pay packages, as expected, are excellent in these companies. Other top banks such as Standard Chartered, Barclay’s also hire freshers offering them a good salary package.
