Updated on Apr 3, 2023 by Kripal Thapa
Master of Financial Management or MFM, is a two year postgraduate program that deals with financial management. Master of Financial Management jobs after graduation include Finance Manager, Credit Manager, Financial Advisor, Asset Manager, Director of Finance and Administration, Financial Planner, Cost Controller, Corporate Financial Analyst, etc.
|Full Form||Master of Financial Management|
|Age||There is no upper age limit.|
|Entrance Exam||ATMA, CAT, CMAT, MAT, GMAT, NMAT, SNAP, XAT|
|Subjects Required||Bachelor in Finance or in a relevant field.|
|Average Fees||INR 1 - 7 LPA|
|Similar Options of Study||MBA, MCM, MMM|
|Average Salary||INR 3 - 10 LPA|
|Employment Roles||Finance Manager, Credit Manager, Financial Advisor, Asset Manager, Director of Finance and Administration, Financial Planner, Cost Controller and Corporate Financial Analyst, etc.|
|Opportunities||HCL, Accenture, Deloitte, TCS, Genpact|
Master of Financial Management course is a two-year program which focuses on the study of finance, risk management, project planning and control, economic analysis, marketing analysis, audit, corporate planning etc. Master of Financial Management syllabus covers all the related topics for the field and gives rigorous training to the students.
Master of Financial Management jobs scope is open for candidates to variety of fields in both private and public sector. After successfully graduating, candidates can get into banking, auditing, tax management, financial planning and many more avenus.
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Master of Financial Management eligibility includes students having to successfully pass their undergraduate degree by obtaining an aggregate of a minimum of 55%. A degree from the field of commerce would fare much better than any other stream. In addition, many colleges and universities conduct entrance exams for students to be eligible for the course. There is no age limit to applying for this course.
The Master of Financial Management course is for those aspirants that want to set up a career in financial management. Depending on the nature and type of Master of Financial Management course, aspirants can set up their careers in the domain of their preferences in business-related fields. Those that want to pursue a career in financial management research can enrol for the Master of Financial Management course.
Typically, it makes sense for Master of Financial Management aspirants to apply for their respective courses immediately after completing graduation. Students from any stream can apply for a Master of Financial Management course.
Master of Financial Management admission is possible through both entrance examination and merit-based selection. Many universities offer direct and entrance exam-based admission to the Master of Financial Management course. Candidates applying for the Master of Financial Management degree should have their results from the respective entrance exam boards required by the selected/opted universities.
Though the admission process varies from college to college, below are the steps one should generally go through to get admission.
The Master of Financial Management course applications are available either online from the University website or offline by visiting the university's Admissions Office. In addition, some colleges may conduct interviews before admissions to check if students have good communication skills.
Candidates applying for the Master of Financial Management program should have all the necessary documents before the entrance test, such as graduation results and ID verification.
The selection process for the courses under Masters in Financial Management in India is usually the same irrespective of the specialisation. Generally, once the application for the course is received, colleges decide on the final selection of the candidates based on the marks obtained by them in the entrance exams. Additionally, the merit obtained by the candidates in their postgraduate degrees also plays an important role.
Aspirants can pursue the Master of Financial Management course in full-time, distance or part-time mode. Below are the types of Master of Financial Management courses in detail:
The full-time Master of Financial Management program is typically for 2 years, during which students will have to attend classes in person, submit assignments, and write their exams on campus. The advantage of a full-time Master of Financial Management course is that students will gain a lot more exposure, experience and knowledge through direct interaction with their peers and faculty.
The part-time Master of Financial Management course is designed for students who cannot attend regular classes. Part-time courses either entail weekend or night classes or online classes, depending on the type of course. The advantage of the part-time Master of Financial Management course is that students can pursue this course while simultaneously being engaged in employment, research, etc.
Many universities and colleges in India offer the Distance Master of Financial Management course. The course is designed keeping the Distance Education methodology in mind. This course is designed for students who cannot afford to attend classes on-campus or those engaged in some form of employment and cannot take time out to pursue a full-time course.
Entrance exams are a common and popular means for some colleges to have a screening to decide which student must be admitted to the course. Many popular colleges around the country have made a name for themselves by conducting internationally acclaimed research projects. These colleges often conduct entrance exams, as the demand to enter these colleges is higher than the number of seats available. Listed below are some of the popular exams:
Students can access the Master of Financial Management course details by going to the college's official website to which they are interested in applying. Specialisation plays a vital role in the college's approach to the entrance exam. Below listed are some of the general guidelines of the Master of Financial Management entrance examinations:
India is home to some of the Master of Financial Management colleges in the world. Aspirants have many options to choose from in terms of the best Master of Financial Management course as per their preferences. Depending on the type of Master of Financial Management programs offered, candidates will have to make the appropriate choice. Below are some of the top colleges in India offering Master of Financial Management courses:
|Sl.No||Name of the College||Average Fees|
|1||IGNOU, Delhi||INR 20,000 PA|
|2||Loyola College, Chennai||INR 2.12 LPA|
|3||Christ University, Bangalore||INR 6 LPA|
|4||St. Xavier's College, Mumbai||INR 5 LPA|
|5||SCDL, Pune||INR 50,000 PA|
|6||Delhi University||INR 2 LPA|
|7||SRCC, New Delhi||INR 4 LPA|
|8||Hindu College, Delhi||INR 2 LPA|
|9||NMIMS, Mumbai||INR 2.5 LPA|
|10||AIMA, New Delhi||INR 63,000 PA|
India’s capital city is home to some of the best institutions for Masters in Financial Management in India. Check the table below for the top Master of Financial Management colleges in New Delhi:
|1||Lady Shri Ram College for Women|
Pune also has some of the best institutions for Masters in Financial Management in India. Check the table below for the top Master of Financial Management colleges in Mumbai:
|3||St. Mira’s College for Girls|
|4||MES Abasaheb Garware College|
|5||Symbiosis College of Arts and Commerce|
Tamil Nadu’s capital city is home to some of the premier institutions for Masters in Financial Management in India. Check the table below for the best Master of Financial Management colleges in Chennai:
|3||Madras Christian College|
|4||Women’s Christian College|
|5||Guru Nanak College|
The capital city of Karnataka is renowned around the country for colleges offering top Master of Financial Management programmes. Check the table below for the best Master of Financial Management colleges in Bangalore:
|2||Vivekananda Degree College|
|4||Kristu Jayanti College|
West Bengal’s capital city, Kolkata, has some of the best colleges for Master of Financial Management courses in India. Check the table below for the best Master of Financial Management colleges in Kolkata:
|2||St. Xavier’s College|
|4||Lady Brabourne College|
The Telangana state capital has some premier institutions in the country for Master of Financial Management courses in India. Check the table below for the top Master of Financial Management colleges in Hyderabad:
|2||AV College of Arts, Science and Commerce|
|3||Osmania University College for Women|
|4||St. Ann’s College for Women|
|5||St. Francis College for Women|
There are several top Government Colleges offering quality Master of Financial Management programmes across the country. Check the table below for the top Master of Financial Management government colleges in India:
|1||Lady Shri Ram College for Women, New Delhi|
|2||Loyola College, Chennai|
|3||Miranda House, New Delhi|
|4||Presidency College, Chennai|
|5||Hindu College, New Delhi|
India has seen significant growth in the number of quality Master of Financial Management private colleges that offer some of the best programmes in the country. Check the table below for the top Master of Financial Management private colleges in India:
|1||St. Xavier's College, Mumbai|
|2||Christ University, Bangalore|
|3||BML Munjal University, Gurgaon|
|4||Madras Christian College, Chennai|
|5||Fergusson College, Pune|
The Master of Financial Management course fee is not fixed and depends on many factors. Some of the factors which affect the Master of Financial Management fees include location, faculty, demand, infrastructure, and the facilities available to the students. The average Master of Financial Management course fee in India is around INR 1 - 7 LPA:
|Sl.No.||Name of the College||Total Fee Structure (INR)|
Master of Financial Management is typically catered to students interested in and inclined towards financial management. Below is a comparison of the Master of Financial Management course with other courses:
The table below showcases the differences between MFM and MBA:
|Full Form||Master of Financial Management||Master of Business Administration|
|Course Duration||2 years||2 years|
|Eligibility||Postgraduate Degree||Postgraduate Degree|
|Entrance Exams||CAT,MAT,XAT,SNAP,GMAT||CAT, MAT|
|Top Colleges||Loyola College ChennaiChrist UniversitySt. Xavier's College MumbaiSymbiosis Centre for Distance Learning (SCDL)||IIM, PIBM Pune, BIM Trichy|
|Fees||INR 1 - 7 LPA||INR 2 - 30 LPA|
The Master of Financial Management syllabus assures that candidates have the advanced skill set required for financial management, making them job-ready both for the private and public sectors. Listed below are some subjects that the students get a chance to study:
When students decide to pursue the Master of Financial Management qualification, they should research Master of Financial Management course details to ensure that they know the course they are enrolled in. Some of the common queries that students encounter are, "What is Master of Financial Management " and "Why Master of Financial Management ?". To understand the answer to these questions, we can make it simpler by breaking it down into the following three short questions:
Master of Financial Management course is a postgraduate management degree awarded to students, usually in a branch of Financial Management. Master of Financial Management course duration is 2 years. This degree is a mix of many subjects that allows candidates to adapt to the changing demands of the employer and meet their needs. It enhances the candidates’ communication, research, and analytical skills.
Students can select the subjects of their choice depending on their interest in job prospects available in the specific field. Since graduates with a Master of Financial Management degree possess skills in various subjects, there are career opportunities available in multiple fields for them. In addition, there are many responsibilities that graduates of this role have to undertake, which makes the role very dynamic and diverse.
Financial Analyst: A Financial Analyst monitors market trends and the factors that influence them to help the company make wise investments. They closely work with the accounts team to highlight recent trends and help companies navigate the budget roll for every financial year.
Master of Financial Management courses are a very reflective and exciting stream of education. Students can gauge the intrinsic worth of an Master of Financial Management course because it offers more avenues of employment opportunities than any other stream. Thus, the Master of Financial Management job scope is forever widening and appealing.
Diversity in Job roles: There is a diverse range of job roles available for the graduates of this course. Since the specialisations available to the students are very flexible, it enables them to pursue a wide range of career roles.
There are many tips that students must note when deciding to pursue an Master of Financial Management degree. Some important preparation tips are listed below to ensure that the students crack the course and pass the exams without any hurdles.
Improve Vocabulary: Improving vocabulary is very necessary as the Master of Financial Management course deals with many writing and reading activities. So having excellent communication and writing skills are a plus for the student studying the Master of Financial Management course.
Read and Practice More: Being up to date with the syllabus every day is very important. Practising and reading more will help the student be thorough with the syllabus and do well in the exams.
Have Intrinsic Knowledge and Interest in Subjects: Having intrinsic knowledge about the subject and having the same interest will keep the student motivated to learn more than what's in the syllabus.
Revise Methodically: Revising from time to time can be a key to scoring well in the final exam. Keep revising regularly and understand the subject properly. Revision is the key to scoring good marks.
There are many higher study options available for graduate students after an Master of Financial Management degree, which can help them better understand the subject. Also, gaining more education can help students pursue a career in research if they are interested in it. Listed below are some of the popular higher education options available for students:
The Master of Financial Management salary for the graduates can differ according to the specialisation that the aspirants decide to pursue. Other factors that can affect Master of Financial Management salary in India include experience, geography, and the industry they are working in.
Graduates can increase their salary by doing internships and work placements as it would add to their experiences. The average Master of Financial Management jobs salary for graduates is around INR 3 - 10 LPA [Source: PayScale].
Read More: Masters in Financial Management Salary
There are plenty of jobs available for students looking for a career in Finance. The job roles will differ based on the specialisation that one has opted for. Master of Financial Management graduates have abundant job opportunities with good salary packages that include the following fields:
There are many complex and soft skills that Master of Financial Management graduates need to possess to succeed in their careers. These are not necessarily skills that students can get in a classroom setting. Instead, these are skills that are learned through experience. Therefore, students should always put in the effort to go out of their comfort zone and gain as much experience as possible. Some of these skills include: