MBA in Banking and Insurance is a 2-year postgraduate course in management that involves the study of concepts for management in the banking and insurance industry. The course caters to the Banking and Insurance industry, which is one of the largest areas of employment for finance professionals in India. The course is tailor-made to suit the needs of a candidate who wishes to join an organization providing banking or insurance services and prepares students for leadership positions at these firms.
Candidates who are interested in taking up the course must have completed their graduation. Students of all streams are eligible to apply to this course. However, students who have studied subjects such as Maths and Commerce in class 12th or at the graduation level are more suited for the course. The course takes a student through the fundamental concepts of the banking and insurance industry while also tackling specialized subjects related to the field including Risk Management, Investment Banking, among others.
The ideal student for an MBA in Banking and Insurance programme must have good mathematical skills. The student must also have sound analytical and logical reasoning skills and must be able to communicate effectively.
Highlights of MBA in Banking and Insurance
| Full Name | Master of Business Administration in Banking and Insurance |
|---|---|
| Stream | Management |
| Level | Postgraduate |
| Duration | 2 years |
| Exam Type | Semester-Wise |
| Eligibility | Graduation in any stream |
| Admission Process | Entrance Exam + GD + PI |
| Average Course Fee | Rs. 5 – 8 LPA |
| Average Starting Salary | Rs. 6 – 7 LPA |
| Top Job Positions | Asset Manager, Marketing and Sales Manager, Investment Banker, Financial Manager, Credit Analyst, Financial Analyst etc. |
| Top Recruiting Companies | ICICI Bank, Kotak Mahindra Bank, SBI, LIC, Axis Bank etc. |
MBA in Banking and Insurance Eligibility Criteria
Given below is the eligibility criteria for an MBA in Banking and Financial Services course. The exact requirements for admission may vary by the college but the basic requirements for admission to MBA in Banking and Insurance are common across all of the colleges.
- Candidate must have completed their graduation (bachelor’s degree course) from a recognized institute or university.
- Candidates from all streams are considered eligible to apply for this course.
- Candidate must have scored at least 45% to 50% aggregate marks in their bachelor’s degree course. Some colleges may specify a higher minimum percentage criterion.
MBA in Banking and Insurance Admission Process 2020
The admission process for MBA in Banking and Insurance courses is based on entrance exams as well as the academic qualifications of a student. Given below are some of the important details regarding the admission process of MBA in Banking and Insurance course.
- Candidate must appear for an MBA entrance exam accepted by their college such as CAT / CMAT / MAT / XAT etc. Some colleges may also conduct their own entrance exams for MBA admissions.
- Candidates who have scored more marks than the cutoff specified by their college are shortlisted for the admission process.
- Depending upon the college, candidates may then be asked to appear for a selection process defined by the college.
- The selection process may include stages such as WAT, GD and PI.
- The final selection is generally done on the basis of the previous academic performance, score in entrance exam and the performance of a candidate in the selection process.
- Some colleges also offer direct admission to MBA courses on the basis of merit in graduation.
MBA in Banking and Insurance Career Options and Job Prospects
Since India has a stable and growing banking sector, Graduates of the MBA in Banking and Insurance course have plenty of career opportunities with good scope for growth and job security in the future. Students who have taken up this course can find challenging job positions at leading financial institutions of the country and help in the growth and development of these firms.
MBA in Banking and Insurance graduates develop a strong understanding of financial concepts and are also skilled in management. Therefore, they become the ideal candidates for private sector-banks and other related companies. Students with good communication skills are preferred for these roles as professionals taking up management positions at these firms are often required to interact with the customers or potential clients and partners. Some of the key areas that recruit MBA in Banking and Insurance graduates are:
- Banks
- Insurance Agencies
- Financial Consultancies
- IT Firms
- Academic Institutions
- Mutual Fund / Stock Management Companies etc.
Top Recruiting Companies for MBA in Banking and Insurance
Some of the top companies hiring MBA in Banking and Insurance graduates include.
- HDFC
- Kotak Mahindra
- ICIC Bank
- American Express
- yes Bank
- ICICI Prudential Life Insurance
- Birla Sun-Life etc.
Candidates can also check the top job positions available for MBA in Banking and Insurance students.
- Marketing Manager
- Financial Analyst
- Loan Counsellor
- Asset Manager
- Insurance Manager
- Credit and Risk Manager
- Stock Analyst
- Financial Advisor etc.