Introduction to MBA in Finance
Of all the branches of specialization in MBA, Finance takes the cake for multiple reasons. An MBA in Finance is often looked upon as a definitive road to success. Lucrative paychecks, collaborations with big brands are a few of the perks of graduating with a MBA in Finance. Sounds exciting? Well, there’s more. Let’s find out how an MBA in Finance can set you on a path to career success.
MBA in Finance Opportunities
An MBA in Finance is a two year post graduate program that prepares candidates for job roles that require financial analysing, reporting, forecasting, advising and more. Typically, an MBA in Finance curriculum includes study of budgets, analytics, economic trends, optimizing investment portfolio, balancing risk, and more.
Until recently, studies of Finance and Banking were offered in tandem. It was only a few years back that Finance emerged as a field of study on its own. As a result of this recent development, there is a growing demand in the market for Finance specialists which is yet to be met. Professionals keen on joining this field should use this golden window of opportunity to grab the best offers.
Top companies around the world are always on the lookout for ways of growing their business and securing their financial stability. This is all the more true for challenging times when businesses don’t find conducive environments and fail to keep up the normal operations. Successful financial strategies which have helped businesses during the current pandemic would be perfect examples of how finance management can save companies from going bankrupt.
An MBA in Finance allows you to get into the depth of the field and acquire required skills to perform well in this domain. Once you get a hang of the domain, you can choose your own niche to build businesses up.
Top Job Roles in MBA Finance
You can find a number of opportunities in companies dealing with commercial banking, merchant banking, international finance, corporate finance, public finance, and more. Finance MBA graduates can find opportunities in a number of positions. Here are some of the top job roles for MBA in finance:
- Operations Manager: Operations Management roles involve production management in any kind of business, for both goods and services. They take care of streamlining processes, enhancing design, performance improvement, strategizing operations, analyzing reports and more.
- Business Analyst: Business Analysts rely on data to assess processes, understand business requirements and plan accordingly. For financial stakeholders, business analysts take data-driven decisions to drive growth and advise companies on how to engage with their customers and the market in general. They use a number of tools and software to present their findings in a more efficient manner.
- Financial Analyst: Financial Analysts are responsible for analysing and interpreting financial data generated by companies. They use these insights to predict future requirements and performance of business. Whether it is forecasting future expenditures and revenue or financial planning or structuring, financial analysts pretty much are in charge of the business capital planning. Check out this free course on Analytics in finance and upskill.
- Bank Manager: Bank managers are responsible for developing strategies and operational logistics to secure the bank’s finances and performance. They lead and direct banking operations and management. They are also required to document the processes and performance on a regular basis and analyse those reports to determine further requirements. They are also in charge of creating the annual operational and expenditure budgets.
- Chief Financial Officer: A chief financial officer controls and manages all the financial decisions of a company. From analyzing the financial strengths and stakes of the company to tracking the cash flow, a CFO creates the financial strategy and ensures business growth. CFO are also required to be legally knowledgeable to understand the legal limits of the company. A CFO’s role is often among the top positions in a company, making them crucial to the decision making board.
- Corporate Controller: A corporate controller is in charge of the accounting operations of a company. They are responsible for financial reporting and decision making which includes investing and risk management, budget making, financial planning and more. This role is very similar to that of the Chief financial officer, especially in bigger companies.
- Management Consultant: Management consultants, often known as management analysts are professionals who help companies execute financial projects and plans successfully. They strategize their financial moves to optimize profit, build better efficiency. They often work with the leadership team at any company to identify and address company strengths and weaknesses. They are sometimes part of consulting firms and work in tandem with client companies so it is likely that they work on multiple projects simultaneously.
MBA Finance Skills
- Business Intelligence: Knowledge of resource planning softwares (ERP) like Oracle, SAP is important for resource planning. Business intelligence will help professionals to plan future investments, manage inventory, allocate labour hours efficiently. Business analytics tools like tableau are also helpful for data interpretation and visualization which will help management teams to understand financial reports for decision making.
- Financial Modelling: When you represent real financial scenarios through theoretical methods that is known as financial modeling. This technique is used to gauge the financial performance of any business asset. They are often part of strategic thinking or financial planning. They are, in fact, crucial for asset comparison for companies. Senior level roles in finance are required to be well versed in financial modeling.
- Analytics: Finance professionals should have the ability to think critically. They should have an analytical bent of mind to help companies understand risks involved in various finance projects. Apart from analytical tools, they should also be well acquainted with the latest market trends in finance so that they can stay at the top of their game. Analytical skills are the basis for problem solving when it comes to finance.
- Cash Flow Management: The process of analyzing, monitoring, and optimizing the cash receipts of any business post cash expense deduction is known as cash flow management. An efficient cash flow management helps businesses to stay profitable and avoid any kind of financial loss. It drives growth through fund optimization.
- Data Management: A much sought-after skill, data management is crucial for finance professionals. This process of curating, storing, managing and maintaining data helps organizations to track performance and gauge efficiency of financial operations. Predictive analysis is an oft-used method in finance planning that depends heavily on data management. This also helps companies to build policies and formulate effective strategies for themselves.
If you wish to upskill in this domain, check out Great Learning’s PG programs for Management. You will find multiple online courses that will help you master the essentials of management and succeed in your career.
