Try Out Different Openings In Banks After You Get Your MBA In Finance

Oct 20, 2018 by

Most aspiring job seekers want to take up a job in the banks after they get your MBA in finance. If you too are thinking on the same lines, first of all, you should congratulate yourself because you are about to make a successful career and secure your future comprehensively.

As far as careers in core finance, The Master of Business Administration in Finance work wonders. With such a degree in hand, you will surely find a job at the mid-level or even in senior positions. The degree has a lot of potentials to offer you higher wages for jobs that are full of responsibility or in fact accountability. Therefore, for an MBA in Finance, there are several paths to take up to achieve your goal.

High paying posts

There are a lot of openings in the banking sector, but the following three seems to be the best options for you. Here they are.

  • Finance Manager – According to market reports, it is revealed that all graduates who have an MBA degree under their belt and working as a finance manager in a bank earned anywhere between $71 000 and $123 000 per year.
  • Financial Analyst – Surprisingly, most people think that the financial analysts earn the least in this field, but the reports show that the average salaries of financial analysts range somewhere between $65 000 and $101 000 for the upper positions. However, it is good to know that you do not require an MBA degree to become a financial analyst. But if you have one, it will help you to get such a job easily with less competition.
  • Executive Officer – If you can get hold of the position of an executive officer with your MBA degree then you will hit the jackpot. As far as the salaries go, the vice presidents earn the highest ranging anywhere from $96 000 and $215 000 per year. On the other hand, the chief financial officers are pretty nifty and earn between $88 000 and $239 000 a year.

About the requirements 

If you want to get the right job in finance and banking, all you have to do is to decide your course of action. It starts early when you choose a good college that may not be an Ivy League but should be a reputable one.

You must also make a decision on the specific segment of the financial market that you want to work in and make your professional career. This is important because different parts of the finance segment require a different type of knowledge and sets of skills.

You must undergo extensive training and work very hard to create a distinct niche in your specific area of expertise.

Lastly, you must choose the right career options from a wide variety of openings.

Posts to apply for

When it comes to banks that take center stage in the financial market, it seems there is an endless choice. These are a few of the options you have.

  • Customer services
  • Managing processes
  • Legal work
  • Advisory positions
  • The IT department
  • Accountancy
  • Human resources
  • The Treasury which is also known as the foreign currency management
  • Audit
  • Compliance
  • Trading
  • Investment management
  • Transaction supervision
  • Financial control and
  • Prevention of money laundering and sponsoring terrorists.

Careers in fiduciaries

If you want to make a different mark of your own in the market, then you can follow the footsteps of some successful and established financial specialists who have made a wonderful career focusing on establishing trusts and fiduciaries. Helping your clients, you will be able to provide a host of different types of services. This set of services will include:

  • Legal
  • Audit
  • Accounting
  • Tax
  • Business advice and
  • Provide support to ensure the smooth running of estate management according to the plan.

If you wish you can even make a mark in leasing and credit finance working for a company or starting your own. With proper foresight and hard work, you can be as good as any other credit finance companies such as liberty lending.

The type of jobs that will keep you busy in this niche market includes:

  • Administration
  • Banking
  • Legal counsel
  • Risk management
  • Accounting
  • Auditing
  • Financial analysis
  • Credit risk management
  • Compliance and regulation and
  • Customer service.

If you want to work in other financial institutions than banks, then there are a lot of non-banking institutions to try out. These institutions function much like the traditional banks offering approximately the same services in almost the same conditions and terms.

However, the only difference between these NBFCs and banks is that they do not accept deposits as the banks. That means these institutions follow a distinct trait that usually involves lending money only. Sometimes, a few institutions may even practice foreign exchange.

If you choose a non-banking institution you can choose from the following job options:

  • Credit finance and leasing
  • Specialized lending processes
  • Managing the processes that set in motion the permitting of the loans on offer
  • Accounting
  • Legal work
  • Financial advice and consultancy.

You may also find a high post in the regulatory bank of the nation as well. These are jobs of high responsibility as you will have to control all other banks of the country and at the same time help the government with its finances, economic policies, managing money market and much more. It all depends on the post you hold and your competence.

This is the core corporate finance sector that needs exceptional skill and a lot of knowledge of economics, mathematics, statistics, and calculus. Ideally, if you want to get hold of such a job, you will need to follow the ‘yellow brick road.’ However, it will prove to be a sound decision in the end.

You can work as a treasurer in the Treasury Department. This is a challenging, most sought after and upper management position job requiring analytical thinking and management expertise. You may also work as a financial analyst and help in planning, project financing, revenue, and capital budgeting. You may also work as a cash or credit manager, benefits officer handling 401(k) employee plans as well if you have excellent social and people skills.

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.