Finance is one of the three core areas in management, along with Marketing, HR, and Operations. MBA in Finance courses are extremely popular and it attracts the best minds in the industry. The sector is critical to all small and big organizations, meaning that there is never a dearth of opportunity here.
MBA in Finance can open up a world of opportunities for you. Studying in a good and resourceful institute also plays a critical role in your development. The institute leads you to internship opportunities and fosters the right attitude through industry visits, expert talks, and pre-placement training.
The insurance boom: a major employer in finance
Over the years, the finance discipline has diversified, in order to meet the demands of particular industries where elements of finance dominate. One such industry today is the insurance world. What is even more fascinating is that the traditional banking sector has also ventured into the insurance business.
So, in India, the insurance business is a core component of many public and private banks. And on the other hand, there are traditional insurance companies, both Indian and foreign, which operate in the Indian market. As a result, an MBA in Banking and Insurance – a sub-specialization of finance, has emerged quite strongly
Advantages of MBA in Banking and Insurance
- Compared to MBA in Marketing, Banking and Finance is more direct and has a highly specific approach, tailor-made for the industry.
- Due to the huge expanse of the industry, there are multiple areas within Banking and Insurance that merit focused attention.
- Instead of learning on the job after MBA in Finance, you have the chance of being far more prepared for the industry’s demands.
- You can also make progress by starting early and growing your career quickly thereafter
- With MBA in Banking and Insurance, the recruiter will feel more assured that you are the right person for a role in the industry
Clearing the misconceptions
- Lack of scope is a myth
It is often suggested that choosing a sub-specialization is not a good idea because it reduces your chances of employment. The usual logic in this argument goes along the lines of an MBA in Finance allowing you to explore opportunities in more fields, rather than just Banking and Insurance. Nothing can be further from the truth, as MBA in Banking and Insurance contains all key elements that you learn in a MBA in Finance course.
- More than just finance
While you learn about the critical concepts of Finance, MBA in Banking and Insurance focuses on how to apply those concepts in the banking industry. It involves hands-on learning with case studies from the insurance and banking industry. But above and beyond that, when you study the course, you get to experience the industry through internships and part-time jobs. Or in other words, you learn the nuts and bolts of Finance through real experience in the industry.
Top 3 colleges for MBA in Banking and Insurance
1. School of Management, D.Y Patil University, Navi Mumbai
D.Y Patil University is a top professional institute in Mumbai with excellent industry connections. They boast a global curriculum with excellent faculty support that makes learning holistic. The course fee is around 9 Lakhs and there are many opportunities for the students to get industry exposure through internships and interactions. For MBA in Banking & Insurance, it is undoubtedly one of the best universities in India that scores high on all parameters of excellence.
2. Sunstone Eduversity, Gurgaon
Sunstone Eduversity is the best emerging B-school in India with a network of twenty campuses spread across different parts of India. They have over 500 recruiter partners who hire students across these campuses every placement season. Very few B-schools in the country have such wide-ranging connections in the industry as Sunstone. Besides, they also have a unique play after placement policy where students can complete MBA in Banking and Insurance and pay the course fee only after being placed.
3. Amity University, Noida
Amity is one of the best private colleges in North India with an excellent track record in building learning infrastructures. Their recognized role in taking education forward in the country makes them one of the highly sought-after colleges for MBA in Banking and Insurance. They have managed to build a trusted relationship with top MNCs in the country, and many students get placed in them every year.
Going to the right institute will make your path to success easy. Institutes that have good collaborations in the industry, manage to get their students internship opportunities in larger numbers and top places. You have to work hard to fulfill your dream of being a management professional in the banking and insurance industry. However, make sure to choose the right institute that can fully shape your potential for a thriving professional career in the industry.