Social Media: A budding means of providing customer satisfaction - Serena Kallian

Finance has been a hot favourite with MBAs and other professionals since over a decade now. Fluctuations within the market and a major economic crisis could not change the way an MBA felt about a career in finance.  Traditionally within the sector, Investment banking(IB) roles took in the cream of the crop, it also gave handsome returns.  However the truth about  Finance sector does not begin and end with IB as perceptions go. Finance is both a function as it is a sector, both having immense importance in the industry.  Most business organisations need finance professionals who will be responsible for finance management and operations of that organisations. Every core management team will always have a member from finance and accounting. Accounting or financial managers are the people responsible for overseeing and maintaining the financial strategy and history of a company. And these areas usually prefer to have MBAs with a finance specialization or Chartered Accountants. Most prospective jobs for finance MBAs fall within investment banks, corporations, and securities firms. Many finance MBA graduates also follow careers in the consulting industry. Having an MBA has now become more than just an added advantage in some of the finance and financial services roles.

Post the recession there have been several changes in the market trends and especially recruitments within b schools. Expectations with regards to pay packages and job roles are more rationalized today  especially within the gamut of the financial sector. When certain sections of the industry expected finance jobs to go a begging, management schools across India registered finance roles  among the highly desired profiles despite the missing names  from Wall street. Here are some of the finance roles that an MBA can dream of:
Financial Managers or Financial Analysts: they look at the production of financial analysis and reports which in turn  helps the organisation with its decision making, strategy and business development.

Accounting Managers : they perform responsibilities relating to tax reporting and management, and creating income statements inside of controller and audit groups. This career path may bring one to the positions of corporate treasurer, corporate controller, or CFO (chief finance officer). Having a strong accounting background is essential for this role.

Corporate Controllers :In this role you are in charge of preparing a company’s financial reports to forecast and sum-up the company’s financial situation. A controller also frequently presides over the budget, auditing, and accounting departments of a company.

Chief Financial Officer : This is the top financial executive of a company. The CFO supervises all accounting and financial operations, as well as administering the company’s general financial policies and strategies.

Management Consultants :  help companies with a wide variety of problems and issues from profitability improvement to corporate restructuring to financial strategy. They also help with understanding emerging market trends.
Cash Managers

Investment Bankers :This is one of the most coveted roles among management graduates. An Investment bankerwill work together with corporations needing capital to grow and institutions or investors who have money available to invest. Most investment banks have a corporate finance division that assists clients in structuring financial instruments such as stocks or bonds to raise capital. Having an MBA is considered a big asset.

Investment Banking Associates : Management graduates with an MBA in Finance usually begin their career in Investment banking as an associate with an investment firm. Mergers and acquisitions , investing, acquiring and disposing in real estate, equities research and consulting etc are some of the areas where MBAs are required within Investment banking.

The two year MBA programme offers core and elective courses as per the traditional curriculum. Students interested in Finance as the major subject can take up electives from the finance and accounting group in the second year of their study. In most Indian management institutes teaching and research is provided in the areas of accounting and control, corporate finance etc. The basic courses in financial and management accounting and corporate finance is offered in the first year. The optional courses in the second year focus on financial derivatives, risk management, business valuation, and quantitative finance.
Before deciding upon the best b school programme for you with a concentration in Finance it would be good to consider the following points:

• The b school's research faculty and its influential nature
• Range of the coursework or programme, topics or areas covered
• Recruiters
• Teaching method
• Is it technologically advanced
• Where do you see yourself with an MBA in Finance.

 Here's a look at some of the  well known business schools for finance in the United States.
1.Wharton School of Business
2. University of Chicago Graduate school of Business
3. Yale School of Management
4. Columbia Business School
5. Tepper School of Business