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Demand for MBA in finance professionals in the age of digitized core banking operations

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Finance and Human Resource are the two imperatives for the successful management of any organization. The focal point of any business activity lies in the efficient management of financial resources. Be it the acquisition of capital to start a business or the accounting for petty expenses, every activity in a small or an established setup requires financial intelligence and acumen for numbers. 

If you were asked to imagine a bank earlier, you would think of officers sitting at their desks with long queues for deposit withdrawal or even opening a bank account. However, banking has transformed now. Most of the operations can be performed from the comfort of sitting at home. How has this been possible? It is the digitized banking system that encourages one to not visit the bank for operations that can be done from home. In this age of digitized core banking operations, the demand for MBA in Financial Management has surged upwards. The market has seen exponential growth in banking insurance industries, financial auditing firms which have, in turn, led to a demand for finance professionals with the right skill sets. The global financial crisis created a need for analysts that can set the ball rolling for companies and boost their revenues. This is a good time for aspiring applicants of an MBA in Finance to take on this opportunity and craft their careers. Unlike the older days where possessing a degree in finance meant maintaining books of accounts, finance skills are now more in demand than ever before.

According to the Financial Times Business Education Rankings, MBA Finance jobs are high in demand since December 2020. PayScale reports an average salary of INR 9,95,246 for a financial manager in India.  MBA in Finance will allow you to assume various positions such as operations manager, relationship manager, business analyst, accounting manager, financial analyst, management consultant, Chief Financial Officer, etc. Acquiring the following skill sets will allow you to flourish a rewarding career as a finance professional:

  1. Analytical Thinking: Finance is numbering and in order to derive meaningful solutions for the business, one needs to be able to analyze the numbers and translate them into lucrative opportunities for the organization. 
  2. Accounting Knowledge: Financial analysis, financial reporting, financial modeling, and data management require you to possess a thorough accounting knowledge. 
  3. Technical Intelligence: The knowledge of ERP software such as SAP or Oracle combined with business analytics software such as Tableau help to manage inventory, sales, and other related information.
  4. Communication Skills: As a finance professional, your role might include financial literacy for a non-technical audience which requires you to have top-notch communication skills. 
  5. A knack for Business: The finance sectors demand you to develop business acumen and awareness of the market to improve the financial standing of the organization. 

The demand for finance professionals is rapidly increasing than ever before. Professionals are choosing to pursue a career in finance and acquiring higher degrees to learn concepts and join companies that align with their values. Bengal Institute of Business Studies (BIBS), award-winning MBA college in Kolkata offers MBA in Financial Management to students who aspire to build a career in Finance. Students get a 360 degree approach in learning and our experienced faculty coupled with lucrative placement opportunities makes this a top choice for any student looking at building an established career in Finance.

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