MBA Finance Salary, Scope, Jobs in India

Duration: 2 Years
Avg Fees: ₹2 - 10 LPA
GMU
GMU

Updated on - Jan 8, 2024

MBA Finance salary in India offered for graduates is lucrative in various fields of accounts, analytics and financial management. As the financial sector is said to be the backbone of the Indian economy, career opportunities for students have increased enormously. In 2024, the MBA Finance salary in India ranges between INR 3-25 LPA.

The MBA Finance course trains and prepares students to take up job roles such as Financial Analyst, Investment Banker, Cash Manager, Credit Manager, etc. The job opportunities for MBA Finance graduates in India are high in both the private and public sectors like banks, financial institutions, insurance agencies, etc.  

Table of Contents

MBA Finance Salary in India

The MBA Finance salary in India is around INR 3-25 LPA while a candidate gets a per month salary of around INR 60,000. The other factors that affect the salary packages include the type of job sector students can choose to work in. The student's knowledge, skills, and experience play a vital role to provide high salary packages for graduates.

MBA in Finance Salary Breakdown

The table below contains the MBA in Finance highest salary in India, along with the average and lowest salaries offered for an MBA degree.

MBA in Finance Salary in India

Salary (INR)

Highest MBA in Finance Salary

25 LPA

Average MBA in Finance Salary

5  LPA

Lowest MBA in Finance Salary

3 LPA

[Source : Ambition Box]

MBA in Finance Salary for Freshers

Here is a list of entry-level MBA Finance salary in India:

Job Role

Starting Salary (INR)

Financial Analyst

3 LPA

Finance Manager

5.3 LPA

Accounting Manager

5.4 LPA

Chief Financial Officer (CFO)

20 LPA

Business Analyst

3.1 LPA

Management Consultant

15.5 LPA

Operations Manager

3.6 LPA

Relationship Manager

3.5 LPA

Bank Manager

4 LPA

[Source: Pay Scale]

Also, CheckWhy MBA? Top Reasons to Pursue an MBA in 2024

MBA in Finance Salary Based on Job Designations

The MBA Finance salary in India depends on various job designations. Explained below are some top job designations along with salaries for MBA Finance graduates.

MBA finance jobs

Job Designation

Function

Salary

Cash Manager

Implements monetary policies, oversees payroll and cash flow operations and other financial services in an organisation

INR 3 LPA

Consulting Manager

Helps organisations to solve issues, conflicts, and ensure maximise growth to improve business performance

INR 24 LPA

Account Manager

Preparing sales report, building fine relationships with customer, business executives and stakeholders

INR 5.5 LPA

Business Analyst

Looks after improving the processes and systems of an organisation and provides solutions to business problems

INR 6.6 LPA

Investment Sales Trader

Developing an investment strategy, analysing market research and assessing how the different types of financial instruments are trading 

INR 11.8 LPA

Investment Banker

Help clients raise money in capital markets by issuing debt or selling equity in companies

INR 18.2 LPA

Bank Manager

In-charge of setting financial goals, undertakes various operations and allocates funds for managing expenses

INR 7 LPA

Credit Manager

Creating credit scoring models, setting loan terms and credit granting process of a company

INR 5.9 LPA

Financial Manager

Performing data analysis, preparing financial reports and advising senior managers on profit-maximising ideas

INR 12.5 LPA

Risk Manager

Develop plans to minimise negative financial outcomes through efficient project management and proposal development

INR 10 LPA

Chief Financial Officer

Manages financial aspects of the company like cash flow, future investments and costs

INR 46.6 LPA

Source: [Ambition Box]

MBA Finance Salary in IIMs

IIM Ahmedabad, IIM Bangalore, IIM Calcutta, and IIM Lucknow have the highest average placements. The typical IIM placement salary for MBA Finance jobs is INR 32 LPA. Top IIM MBA Finance recruiters include McKinsey, JP Morgan, Mastercard, Goldman Sachs, and others.

NIRF Management Rankings 2023

Institute

Average Salary (INR)

1

IIM Ahmedabad

33 LPA

2

IIM Bangalore

32 LPA

3

IIM Calcutta

34 LPA

4

IIM Lucknow

25 LPA

6

IIM Kozhikode

20 LPA

7

IIM Indore

20 LPA

15

IIM Tiruchirappalli

20 LPA

17

IIM Udaipur

10 LPA

19

IIM Raipur

18.4 LPA

20

IIM Ranchi

18.3 LPA

21

IIM Rohtak

15 LPA

30

IIM Shillong

17 LPA

33

IIM Kashipur

14.42 LPA

40

IIM Nagpur

14 LPA

Source: [PayScale]

MBA Finance Jobs in India

MBA Finance graduates can work as managers and accountants in private and public sectors such as banks, financial institutions, and telecom companies. There are a plethora of options which candidates can explore. Some job opportunities for them include:

Entry-Level MBA Finance Jobs With Salary

In India, MBA Finance positions are in high demand. Some of the most recent MBA in Finance Salary for freshers are listed below, along with more information:

Company Name

Salary (INR)

Randstad India

4 - 6 LPA

Winkler Enterprises

3 - 4 LPA

SFC Group

1.75 - 3.75 LPA

GlobeOp Financial Services

2.75 - 3 LPA

EmBridge

3 LPA

Atkins

2.3 LPA

ICICI Bank

9.9 LPA

Reliance JIO

3.1 LPA

HDFC Life

3.3 LPA

Sources: [PayScale & Ambition Box]

Government MBA Finance Jobs

There are plenty of jobs after MBA Finance in government sector banks and telecom companies for candidates. The average MBA salary in this sector is INR 6-12 LPA. Check out the table below for some of the government positions offered: 

Top Government Companies

Job Profiles

Salary (INR)

SBI

Bank Manager

9 LPA

BSNL

Account Officer

6.59 LPA

National Dairy Development Board (NDDB)

Deputy Manager

10.80 LPA

Dredging Corporation of India Limited

Joint General Manager

24.5 LPA

Bharat Earth Movers Limited (BEML)

Assistant Manager

9.53 LPA

Bank of Baroda

Credit Manager

14.33 LPA

LIC

Finance Branch Manager

13 LPA

Source: [Glassdoor]

Also, CheckJob Opportunities after MBA from IIM

Private MBA Finance Jobs

MBA in Finance salary in the private sector ranges from INR 5 to 30 LPA. The career options after MBA Finance include:

Top Private Companies

Job Profiles

Salary (INR)

Goldman Sachs 

Analyst Developer

19.30 LPA

Morgan Stanley 

Senior Manager

27.13 LPA

Boston Consulting Group

Associate

20 LPA

Bain and Company

Associate Consultant 

20 LPA

JP Morgan 

Financial Analyst

10.05 LPA

TCS

Business Finance Manager

10 LPA

Reliance Industries

Finance Manager

11.02 LPA

Source: [Glassdoor]

Top MBA Finance Recruiters

MBA graduates can find jobs in a variety of businesses and fields, including retail, logistics and supply chain, information technology, etc. Below is a list of some of the top recruiters along with the average MBA salary for graduates:

Top Recruiters

Average Annual Salary For Freshers

Average Annual Salary For Five Years Experience

Goldman Sachs

INR 8 LPA

INR 12-14 LPA

Morgan Stanley

INR 9 LPA

INR 14-17 LPA

ICICI Bank

INR 5.9 LPA

INR 7-9 LPA

ITC

INR 5 LPA

INR 8-10 LPA

Infosys

INR 6 LPA

INR 7-10 LPA

Amazon

INR 4 LPA

INR 6-11 LPA

Bharti Airtel 

INR 4 LPA

INR 6-9 LPA

[Source : Pay Scale & Ambition Box]

Also, ReadList of Dream Companies For MBA Students

Career Scope of MBA Finance

MBA Finance scope is vast with more career prospects and great salary packages. The income depends on the company, work experience and technical skills. Candidates can opt for several courses after MBA Finance that will enhance their skills and expertise and contribute to their career prospects and professional growth.

Career Options after MBA Finance

MBA Finance jobs and salary are diverse, and graduates can look out for job roles in the financial sector. The top areas of recruitment are:

  • Finance Managers
  • Business Analyst
  • Finance Analyst
  • Accounts Manager
  • Bank Manager
  • Business Manager

Also, CheckCareer After MBA

Courses after MBA Finance

After completing an MBA Finance course, the given below are the most frequently pursued higher education options that might interest a student:

  • PhD
  • MPhil
  • Executive MBA in Finance
  • ISB's Certificate Programme in Business Analytics
  • Doctor of Business Administration 
  • Fellow Programmes in Management from IIMs
  • Certified in Production and Inventory Management (CPIM)

Also, Check: Top 10 Courses after MBA

Skills Required for MBA Finance Jobs

MBA Finance graduates must possess technical and soft skills to do well in the course. The following is a list of skills that MBA Finance graduates must have:

  • Communication Skills: Candidates must have apt communication skills to build a good network and address proper consumer issues.
  • Risk Analysis: They must be able to analyse risk and come up with cost-effective solutions to retain profits.
  • Investors Portfolio Management: They need to be able to evaluate investors by assessing their profile and gaining long-term investments. 
  • Business Valuation: The students need to have the skill to assess the economic value of the business and find measures to maximise the profits.
  • Advance Mathematics Knowledge: Since there are topics like accounting, candidates' mathematics skills need to be sharp and on point.

Factors to be Considered Before Choosing a Job

When choosing a job after completing an MBA Finance, there are several factors to consider that need to be aligned with candidates' career goals and interests. Below mentioned are a few factors that should be considered before choosing a job:

  • Job Roles and Responsibilities
  • Culture and Values of the Organization
  • Skills Required
  • Career Advancement Opportunities
  • Industry Growth
  • Salary, Incentives, etc

MBA Finance Jobs Abroad

MBA in Finance scope provides an excellent opportunity to work in a global market and across the world. There are lots of job opportunities not only in India but also abroad. Students can work in the financial sector, security firms, banking sectors, and travel industries.

Best Countries for MBA Finance

Below is the list of top countries offering job opportunities for MBA in Finance Management: 

Countries

Average Salary

Canada

USD 30,000 -58,423

United Kingdom

USD 74,000 - 118,000

USA

USD 64,000 - 133,000

Australia

USD 57,718 - 207,107

Singapore

USD 35,000 - 170,735

[Source : Pay Scale & Glassdoor]

Top International Companies for MBA Finance

  Check the list below for the top international companies that hire MBA Finance students:

Top Companies

Average Salaries

Morgan Stanley

INR 7 - 13 LPA

Boston Consulting Group

INR 7 - 13 LPA

Goldman Sachs

INR 10-40 LPA

Bain & Company

INR 11-25 LPA

JP Morgan Chase & Company

INR 9-19 LPA

McKinsey & Company

INR 5-24 LPA

Barclays

INR 4-28 LPA

KPMG

INR 4-10 LPA

[Source : Ambition Box]

MBA Finance Jobs in US

Jobs for graduates with finance degrees from US universities are expected to grow at a rate of 50% between 2019 and 2029, which will result in 476,200 new job opportunities. As a result, an MBA in Finance could lead to a lucrative career as a banker, financial controller, chief treasurer, or other positions.

Given below are Finance MBA salary in the US.

Job Role

Popular Recruiter

Average Salary (USD) 

Financial Analyst

The Boeing Company, Wells Fargo & Co., Northrop Grumman Corporation

58,776.01

Finance Manager

Microsoft, DaVita Inc., Raytheon Co.

88,650.10

Financial Controller

Abc Corp., Fischer Homes, SAP America, Inc, Siemens

80,938.54

Senior Accountant

Baker Tilly Virchow Krause, LLP, CliftonLarsonAllen, CBRE Group

88,650.10

Accounting Manager

Ernst & Young, SMG Management, M2S, Abc Corp.

69,377.76

[Source : Pay Scale]

MBA Finance Jobs in Canada

According to JobsBank.ca, the number of job openings in Canada's Finance and Investment Sector will be 22,300 over the next ten years. In comparison, 21,700 new graduates will join the labour force.

Labour demand and supply are expected to remain balanced in this sector shortly. As a result, graduates with an MBA in Finance will have an easier time finding employment in Canada. Listed below are MBA Finance job scope in Canada:

Job Role

Recruiters

Average Salary (CAD)

Finance and Control Manager

City of Campbellton, NB

60,419.59

CFO

Reos Canada, Inc

14,1001.20

General Manager

Canada Immigration and Visa Services Inc

44,1137.79

Vice President- Financial, Communications, and Other Business Services

Men Canada Limited

35,2378.34

[Source : Pay Scale]

MBA Finance Jobs in UK

Despite Brexit, there's a high demand for skilled labour within the UK financial services industry. According to the recent Statistical Research Department Studies, there'll be over 390,000 job vacancies within the finance sector in London alone by 2027.

MBA Finance career options within the UK are as follows:

Job Role

Recruiters

Average Salary (GBP/month)

Finance Analyst

AG BARR PLC

25,092.43

Finance Manager

Amazon

94,119.32

Manager, Financial Markets

Deloitte

64,826.31

Finance Officer

Goodman Manson

33,473.40

Finance Manager

Morgan Law

41,824.08

[Source: PayScale]

Areas of Recruitment for MBA Finance Graduates

The MBA Finance job scope in India is diverse with job areas including  Candidates are frequently informed of current developments in the sector. For those seeking an MBA in Finance, some of the top recruiting fields and their jobs are given below:

MBA Finance Fields

Roles Offered

Banks

Branch Manager, Financial Analyst, Transactional Specialist, Associate Vice President

Stock Exchange

Broker, Market Research Analyst, Trader, Investment Consultant

Hedge Funds

Hedge Funds Manager, Research Associate, Portfolio Manager

FMCG

Finance Managers, Portfolio Analyst, CFO

Fashion Companies

Relationship Manager, Risk Analyst, Sr. Business Analyst

MNCs

Credit Risk Manager, Lead Business Analyst, AVP Consumer Lending, Team Lead Operations

[Source: Investopedia]

MBA in Finance Fee Structure

FAQs

What is the average MBA Finance salary in top companies?

The average salary offered for MBA graduates in top organizations range from INR 3-15 LPA.

Who are the top recruiters for MBA Finance graduates?

Banks, Insurance companies, Telecom companies, etc are some top job areas for MBA Finance graduates.

What are the various career options after MBA Finance?

Candidates can work in top private and government sector companies like Goldman Sachs, Morgan Stanley, SBI, LIC, etc.

What is the highest MBA Finance salary offered to graduates?

The highest salary offered to MBA Finance graduates is in the range of INR 15-20 LPA.

Which are the top MBA Finance jobs with salary?

Finance Managers, Credit Managers, Bank Managers, etc are some top job designations offered in MBA Finance. The salary offered by these job roles is around INR 10 LPA.

What is the average MBA Finance salary offered through placements in IIMs?

The average salary for MBA Finance graduates from IIMs is INR 15 LPA.

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