Salaries - MBA in Finance - Freshers and Experienced
Finance is one of the key departments in an organization. Finance involves strategy, analysis, decision-making, risk mitigation and much more. Owing to this, any organization requires skilled people in this department. Being a core function, any organization - big or small requires an independent finance department.
Pursuing an MBA in Finance can be a flourishing career pathway. The plethora of job roles mean there is a role for everyone. Salaries are lucrative too for the skilled candidate. Without any ado, let’s explore some of the popular MBA finance job roles with salaries of both, freshers and experienced candidates in this blog post.
1. Financial Analyst
Financial analysts are responsible for analyzing financial data, preparing reports, and making recommendations based on their findings. They forecast future revenue and expenses, assess investment opportunities, and provide insights into financial performance. Analysts may specialize in various areas such as equity, credit, or risk analysis and often work for investment banks, asset management firms, or corporations.
Fresher Average Salary : 2.1 LPA
Experienced Average Salary : 12.5 LPA
2. Finance Manager
Finance managers oversee the financial operations of a company. They are responsible for financial planning, budgeting, forecasting, and reporting. Their role involves analyzing financial data to help senior management make informed decisions about resource allocation, investment strategies, and cost management. Finance managers also ensure that the company complies with financial regulations and manages risks effectively.
Fresher Average Salary : 3.5 LPA
Experienced Average Salary : 32.5 LPA
3. Chief Financial Officer (CFO)
The CFO is a senior executive responsible for managing the financial actions of a company. This includes overseeing financial planning, managing financial risks, record-keeping, and financial reporting. CFOs play a crucial role in strategic planning and business development, working closely with other executives to develop long-term financial goals and strategies. They are also responsible for communicating the company’s financial performance to stakeholders.
Fresher Average Salary : 12 LPA
Experienced Average Salary : 101.0 LPA
4. Accounting Manager
An accounting manager oversees the accounting department and ensures that financial records are accurate and comply with regulatory standards. They manage the preparation of financial statements, coordinate audits, implement internal controls, and supervise accounting staff. Accounting managers also work closely with other departments to ensure accurate financial reporting and support decision-making processes.
Fresher Average Salary : 2.4 LPA
Experienced Average Salary : 16.7 LPA
5. Credit Manager
Credit managers are responsible for managing a company’s credit policy and its relationships with customers and vendors. They assess the creditworthiness of clients, set credit limits, and ensure timely collections of receivables. Credit managers aim to minimize the risk of bad debts while maximizing sales opportunities by evaluating credit applications, monitoring credit accounts, and working with clients to resolve payment issues.
Fresher Average Salary : 6 LPA
Experienced Average Salary : 10 LPA
6. Investment Banker
A company can require additional capital for various reasons, be it expansion or purchase of an asset. Investment bankers help companies and governments raise capital by issuing stocks or bonds and provide advisory services for mergers, acquisitions, and other financial transactions. They conduct market research, develop financial models, and present strategies to clients. Investment bankers work in a fast-paced environment, often dealing with complex financial transactions and managing relationships with investors and clients.
Fresher Average Salary : 2 LPA
Experienced Average Salary : 51 LPA
7. Risk Manager
Financial risks can damage an organization beyond repair. Risk managers are responsible for identifying, assessing, and mitigating risks that could impact a company's financial health. They develop risk management strategies, conduct risk assessments, and implement policies and procedures to manage various risks - market risk, credit risk, operational risk, and compliance risk. Risk managers work closely with other departments to ensure that risks are effectively managed across the organization and that the company is prepared for potential financial uncertainties.
Fresher Average Salary : 3 LPA
Experienced Average Salary : 31 LPA
Conclusion
An MBA in Finance thus provides good value and return on investment. However, it is crucial to get certified from the best business school out of the flock. At ITM, an MBA in Finance specialization is known for its up-to-date curriculum, hands-on, global learning and what’s more - the alumni have been placed in top organizations across the globe. Enroll today for an byMBA in Finance at ITM Business School for a flourishing career.