Jagpreet
07 December, 2023
Table of Contents
For something as big as finance, it cannot be contained in a few words. Finance and Accounting are the backbone of the world economy since every company relies on the accounts and finance department. In the past few years, the financial service sector has witnessed major achievements and experts predict that this momentum will continue. A report in the Business Research Company shows that the global finance market grew from USD 25848.74 billion in 2022 to USD 28115.02 billion in 2023.
What do you think these numbers mean for you as an individual aiming to make a great career in this field? With the advancements and growth in this sector, the job opportunities for capable professionals are bound to increase. Over 50 lakh new jobs are predicted to emerge as reported by FICCI.
In fact, new career prospects are coming up for you to explore the diverse field and move towards career advancement. As finance and accounting are ubiquitous fields, this sector offers high job security, career diversity, and a higher growth rate. Hence, the reason why most of the candidates choose this specialisation.
Now, what do you think is the most effective way to carve your career path in finance and accounting? The answer to this question is as simple as getting the degree in MBA. While there are other options as well for enhancing your accounting and finance skills, but such certifications do not cover the overall aspects of business administration that you get in an MBA degree.
It is a two-year management programme that trains students with skills to collect and analyse financial data while covering the aspects of financial management. Those of you who are fond of numbers will find this MBA specialisation very exciting. In this programme, you will gain in-depth knowledge of business administration nitty-gritty, and specialist knowledge of international finance & accounting. As this course is practice-based, you will learn about the factors that impact financial decisions, and how to implement large finance projects and international capital markets.
While the course work differs in every college, on a general note, this MBA programme will equip you with international accounting standards and cover topics like investment analysis, portfolio management, and how to optimise corporate financial performance. If you are a finance enthusiast then this blog is for you. We have compiled all the details regarding the MBA programme in Finance and Accounting.
| Course Name | MBA in Finance and Accounting |
| Course Type | Master’s Programme |
| Mode | Full-Time, Part-Time, Distance, Online |
| Eligibility | An aspirant must have completed bachelor’s degree with minimum marks of 50% or is in the final semester and is awaiting the final result to apply for the MBA course. |
| Duration | 2 Years |
| Average Salary Offered | INR 4 to 9 LPA |
| Employment Roles | – Financial Advisor – Management Consultant – Portfolio Manager – Private Equity Analyst – Accounts Manager – Hedge Fund Manager |
In this business atmosphere, accounting and finance can offer you a stable and clear career path. This field encompasses diverse roles beyond trading and stock exchange. Moreover, today finance and tech are overlapping a little more every day, and candidates get a chance to maximise the return on investment in MBA in Finance and Accounting.
Out of the hundred reasons why you should opt for an MBA in Finance and Accounting, here is a small glimpse of what this MBA specialisation brings to your plate:
It doesn’t matter whether it is IT company, education, consulting or advertising company, every company needs to monitor the cash flow or plan the budget. This implies that irrespective of the industry, finance and accounting professionals are required everywhere across the globe.
Precisely because of the reason mentioned above, the jobs in this field will never die. Even if the company is small-sized, finance and accounts professionals are sure to stay long at the firm.
The finance sector has grown beyond the banks, and the digital wave of finance and tech blend is proof of that evolution. These advancements are an opportunity and challenge as well for experienced professionals and fresh graduates. Pursuing an MBA in Finance and Accounting can prepare you for the path that lies ahead in this field.
Obviously, finance involves formulas, numbers and forecasting, so naturally you will have to handle crisis situations and be decisive about your actions. When you learn such things in this MBA specialisation you will become a strong problem-solver, a skill highly required in the corporate world.
As the name suggests, finance and accounting specialisation needs a strong background in accounting and mathematics. Candidates who studied these subjects in their previous education or have an interest in these areas are perfect for this programme. This course is for someone who aims to work in the banking, corporate finance and accounting sectors. Rest anyone with a bachelor’s degree in hand irrespective of the discipline.
| Semester 1 | Semester 2 |
| Accounting for Managers | Financial Management |
| Direct and Indirect Taxes | Marketing Management |
| Managerial Economics | Financial Reporting |
| Management Information System | Human Resources Management |
| Business Environment and Law | Operations Research and Management |
| Research Methodology |
| Semester 3 | Semester 4 |
| Business Policy and Strategy Movement | Entrepreneurship Development and Project Management |
| Strategic Financial Management | International Business Management |
| Management Control Systems | Banking and Indian Financial System |
| Elective subjects | Elective Subjects |
The above-mentioned syllabus is a general curriculum often followed by Indian universities. Every institution has different coursework, thus you will have to check on the official website of that university to know the exact syllabus.
In most universities the following eligibility criteria are followed:
This eligibility criterion may vary as per different universities and different study modes. The criteria for online and distance MBA programmes is a bit relaxed compared to regular programmes.
The fee structure of an MBA programme is fixed by the college administration so it may vary depending upon the institution. Moreover, the fee structure for online, distance and regular programmes is also different. Therefore, the general fee structure of the MBA programme in Indian universities ranges between INR 1,00,000 to 20,00,00.
Depending upon your convenience and personal interest, you have the option to choose a suitable study format for MBA in Finance and Accounting. Following are the different modes in which you can pursue the MBA programme:
It is the regular mode of learning, in which in-person classes are conducted. Here the benefit you get is to participate in campus activities and events which helps in personality development.
It is slightly flexible and convenient compared to full-time MBA. As the classes are slow-paced and mostly conducted on weekends or evenings, the total duration of the programme becomes more than 2 years.
It is the most flexible and popular learning mode of the current time that allows you to attend classes from anywhere. Exams and assignments are also conducted in online mode.
If you choose a distance MBA programme, you do not need to have an internet connection or laptop unlike online mode. The study material is sent by post to the students and exams are conducted in the university regional centres.
Also Read: Ultimate Guide to Online MBA for Working Professionals
Confused about how to choose the right MBA college to achieve the next big goal of your career? Who wouldn’t be! There are several MBA colleges out there making it hard to find the one that aligns with your goals. As it is the most crucial step for an MBA aspirant, here are a few tips you can refer to the right MBA college:
| Regular MBA Colleges | |
| Name of the College | Fee |
| IIM Lucknow | INR 20,75,000 |
| Chandigarh University | INR 1,38,000 (per semester) |
| Amity University | INR 3.89 (per semester) |
| TA Pai Management Institute (TAPMI), Manipal | INR 8,67,000 (per year) |
| Online/Distance MBA Colleges | |
| Name of the College | Fee |
| Chandigarh University | INR 71,360 (including SLM hard copy) – for online learning INR 2,00,000 – for distance programme |
| Jain University | INR 1,50,000 to 2,61,000 (depends upon the major) |
| Amity University | INR 1,61,000 |
| Manipal University | INR 2,60,000 |
| SRM Institute of Science and Technology | INR 47,250 (per semester) |
| Chitkara University | INR 3,05,000 |
Please note that not many colleges offer the exact specialisation i.e. finance and accounting. The institutions highlighted above offer similar MBA programmes separately.
For all MBA specialisations, entrance exams are the same. However, for online MBA programmes, most of the universities do not have the criteria of entrance exams. Below mentioned are some of the popular entrance tests conducted on national level for admission into regular MBA programmes:
| Exam Name | Exam Date |
| CAT 2023 | 26th Nov 2023 |
| CMAT 2024 | To be declared |
| XAT 2024 | 7th Jan 2024 |
| MAT 2023 | MAT PBT: 3 Sep 2023 MAT CBT: 17 Sep 2023 |
| NMAT by GMAC 2023 | To be declared |
| SNAP 2023 | 10 Dec 2023 – 22 Dec 2023 |
| Career Opportunities | Job Description | Salary Range |
| Financial Advisor | It is an exciting job role for accounting and finance professionals where you have to guide the clients regarding their financial activities. As a Financial Advisor you can work in the corporate providing services to the company or individually. | INR 6.4 LPA |
| Accounts Manager | An Accounts Manager is considered as a business representative who interacts with clients one-on-one. They generally serve many roles as they are the point of contact for customer support and general relationship management. | INR 8.6 LPA |
| Management Consultant | This job profile is as sophisticated as it sounds. A Management Consultant aids in handling managerial issues, value creation, enhancement of business performance and company budget. | INR 26.7 LPA |
| Portfolio Manager | Portfolio Manager is responsible for strategising and executing investment processes to achieve the client’s goals. They help in resolving financial constraints and planning for best possible investments. | INR 11.1 LPA |
| Private Equity Analyst | In this job role, you are responsible for evaluating the company’s financial and equity data. On a regular basis, they conduct research, provide interpretations, and perform ratio analysis. | INR 8.0 LPA |
Salary Source: Ambition Box
Since finance and accounting are the backbone of every company the jobs in this field will never meet its end. Moreover, according to various surveys and reports, the financial service sector in India is expected to increase its arms, thereby ensuring more career opportunities for skilled professionals.
This MBA specialisation will open up the doors to a wide range of career prospects such as Financial Advisor, Management Consultant, Portfolio Manager, Private Equity Analyst, Accounts Manager, and Hedge Fund Manager.
The salary slab is different for each role. However, in general, the average base salary for an MBA Finance graduate is between INR 4 – 9 LPA according to Ambition Box. The figure may vary from time to time so, it is advised to go through the updated salary range when required.
Yes, definitely. Working professionals can go for online MBA, distance MBA or Executive MBA programmes which provides weekend classes.
The subjects are different in every college/university or sometimes their name might differ. Generally, this MBA specialisation covers the areas of managerial accounting, financial management, direct and indirect taxes, and financial risk management among others.
No. A graduate from any discipline can apply for an MBA in Finance and Accounting course provided he/she meets the eligibility criteria of that college.
The MBA programme covers the latest trends in the financial sector and how the line between finance and technology is diminishing. All such topics are covered in the MBA course. However, the course structure might vary as per different universities.
