MBA in Banking & Insurance is a 2-year postgraduate Banking and Insurance course, the minimum eligibility is Graduation from a recognized college or its equivalent exam. Admission to this course depends on the student’s performance in a relevant entrance test and the consequent round of counselling.
Few of the entrance exams that are led for admission into top colleges and universities include:
Some of the top colleges and institutes which provide admission to (MBA) in Banking & Insurance are as follows:
- Guru Gobind Singh Indraprastha University - GGSIPU, Delhi
- J.M. College, Hazaribagh
- Indore Management Institute, Indore
The average tuition fee charged for the course in India ranges between INR 10,000 to 10 lacs, for a span of 2 years.
MBA in Banking and Insurance is a postgraduate Banking program. The degree course is the study of fundamentals as well as concepts in the banking and Insurance. MBA in Banking & Insurance degree program covers the study of the fundamental concepts of management with specialised training in subjects for example International Banking and Insurance, Risk Management, Treasury Operations, Project & Infrastructure, Investment Banking, etc. The full two-year degree program consists of four semesters in which the first two semesters are important to all the M.B.A. courses and the last two focus and focus on the specialised subjects related to the area of Banking and Insurance.
This field is full of career opportunities with secure future. Various banks and multinational organizations provide facilities to their employees. Students opt this field are well paid and have a bright career. Needs of experts are expanding every day as new and propelled technologies are being introduced. After the successful completion of this course, there will be a multitude of banking job opportunities at your disposal. There are numerous nationalised as well as private banks which offer ample career employment in the banking sector. Usually, these banks hire thousands of candidates every year.
Such graduates are hired in capacities such as Financial Analyst, Credit & Risk Manager, Marketing & Sales Manager, Loan Counsellor and Sales Officer, Credit Analyst, Investment Banker, Account and Auditor, Stock Analyst, Asset Manager, Agent & Broker, Insurance Manager, Operations Manager, Marketing and Sales Manager, Financial Manager, Management Analyst, Accountants and Auditor, Credit Analyst, Financial Analyst, Personal Financial Advisor, Loan Counsellor etc. The average annual salary offered to such professionals ranges between INR 3 to 20 Lacs, increasing with students’ experience and expertise.
Top Colleges for Master of Business Administration [MBA] (Banking & Insurance)
- Master of Business Administration [MBA] (Banking & Insurance) in Karnataka
- MBA/PGDM in Delhi-NCR
- MBA/PGDM in Maharashtra
- MBA/PGDM in Chennai
- MBA/PGDM in Uttar Pradesh
- MBA/PGDM in Telangana
MBA in Banking and Insurance: Course Highlights
Given below are some of the main highlights of the course:
|Course Level||Post Graduate|
|Duration of the Course||2 years|
|Examination Type||Semester and Annual|
|Admission Process||Entrance exam and Merit Based|
|Average Course Fee||INR 10,000 to 10 Lacs|
|Average Starting Salary||INR 3 to 20 Lacs|
|Top Recruiting Companies||ICICI Bank, HDFC Bank, General Insurance Corporation (GIC), ICICI Prudential, Life Insurance, Tata AIF Life, Reliance, Birla Sun-Life, Max New York Life, HDFC Standard Life- Insurance Co., SBI, Life Insurance, Life Insurance Corporation of India, HSBC Bank, Yes Bank, Kotak Mahindra, Axis Bank, IDFC bank etc.|
|Top Job Areas||Colleges & Universities, Banks, IT Companies, Multinational Organizations, Insurance Departments, Media Houses etc.|
|Top Job Positions||Financial Analyst, Credit & Risk Manager, Marketing & Sales Manager, Loan Counsellor and Sales Officer, Credit Analyst, Investment Banker, Account and Auditor, Stock Analyst, Asset Manager, Agent & Broker, Insurance Manager, Operations Manager, Marketing and Sales Manager, Financial Manager, Management Analyst, Accountants and Auditor, Credit Analyst, Financial Analyst, Personal Financial Advisor, Loan Counsellor etc.|
MBA in Banking and Insurance: What is it all about?
The master’s degree program in Banking and Insurance Management is a dedicated business studies field and is a dual master’s degree which provides technical, expert as well as practical knowledge of banking and insurance along with the combinational management subjects for business as well. MBA in Banking and Insurance course is first of its kind in North-India and is planned at developing world-class banking and insurance sector capabilities.
The applicants are groomed both in theoretical and practical aspects of domestic and international banking as well as in the domain of the booming insurance sector. The programme prepares the applicants to apply their all-around knowledge-based learning to the financial world at large, for example, wealth management, portfolio management, investment banking, financial and business consulting, risk management, financial and investment research, and general and life insurance services.
MBA in Banking and Insurance Management is a method for assurance of financial loss. MBA in Banking and Insurance Management provides applicants with a basic knowledge of the Banking and insurance markets. Degree courses are designed to develop efficient and updated financial and insurance planners. It helps to provide applicants with a basic understanding of the financial and insurance markets.
This program is suitable for those candidates who have skills like hard work, sincerity, and confidence, able to persuade others as well as a commitment for service towards the customers decides the growth of a person in the insurance sector. Applicants must be self-confident, outgoing, helpful, social and should be able to communicate with people at varied levels. Other major skills are curious, decisive, and perceptive, possess the ability to work carefully, flexibility, diplomacy, communication skill, ability to work outside the office for a large amount of time are the qualities required for surveyors.
MBA in Banking and Insurance: Top Institutes
Given below are some of the top institutes in India that offer the course:
|NAME OF INSTITUTE||CITY||AVERAGE ANNUAL FEES|
|International Management Institute||New Delhi||INR 7,71,000|
|Institute of Financial Management and Research||Chittoor||INR 6,00,000|
|ICFAI Business School||Hyderabad||INR 6,25,000|
|International School of Business and Research||Bangalore||INR 4,00,000|
|Institute of Public Enterprise||Hyderabad||INR 4,08,000|
|Pondicherry University||Pondicherry||INR 37,200|
|GIBS Business School||Bangalore||INR 2,75,000|
|Sri Balaji Society, Balaji Institute of Modern Management||Pune||INR 3,30,000|
|SCMS Cochin School of Business||Cochin||INR 3,76,000|
|AIMS Institute of Management Studies||Pune||INR 1,49,000|
|Siva Sivani Institute of Management||Secunderabad||INR 2,75,000|
|Birla Institute of Technology||Ranchi||INR 2,27,000|
Eligibility for (MBA) Banking & Insurance
A bachelor`s degree in any discipline is required for pursuing an MBA degree in Banking & Insurance. Some reputed colleges and universities conduct a common entrance test (GMAT, CAT, XAT, MAT, SNAP, etc) for admission into its management programs.
The common entrance exams include various papers such as General English, Data Analysis and Interpretations, Problem Solving, Numerical Ability, Logical Reasoning, Quantitative Aptitude and General Awareness.
MBA in Banking and Insurance: Admission Process
For Admission to Banking & Insurance degree, students will have to appear in any one or more of the nationally conducted entrance exams. On the basis of performance in the entrance test, Group Discussion and Personal Interview, management Institutes prepare a shortlist of students for admission. Some weight is also given to marks scored in Higher Secondary and Graduation level examination.
Below are the few entrance tests that are conducted by some of the MBA in Banking and Insurance colleges in India:
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MBA in Banking and Insurance: Syllabus and Course Description
A semester-wise breakup of the course syllabus is tabulated below.
|Semester I||Semester II|
|Principles and Practices of Management||Insurance Management|
|Communication Management||Insurance Product|
|Accounting for Managers||Marketing Management|
|Principles & Practices of Banking||Marketing Information System|
|Economics for Managers||Banking & Insurance Management|
|Financial Management||Merchant Banking & Financial Services|
|Semester III||Semester IV|
|Statistic for Management||Resource mobilization and marketing of banking services|
|Organizational Behaviour||Counter operations, savings bank, current account and remittances|
|Team management||Retail Insurance management (housing, vehicle, consumer and personal loans, etc); OR advance technology in banking (ATM, Internet banking, etc)|
|Strategic Credit management||Fundamentals of infrastructure project financing|
|Legal Aspect of Banking||Corporate Insurance management|
|Treasury & Risk Management||Mutual funds and portfolio management|
MBA in Banking and Insurance: Career Prospects
Usually, graduates with knowledge in both finance and management are employed by banks for various posts based on All India Examination. Although finance and management graduates may have an edge over other aspirants, any applicants from any stream are eligible to enter this field by qualifying the entrance exams which are being conducted by banks every year. At senior level banks opt for experienced bankers.
Generally, banks look for those students who have good communication skills and have the ability to handle customers and possess basic knowledge about the industry. One needs to specialize in certain specific areas such as credit appraisal, loan and foreign exchange to be eligible for joining an overseas bank or private sector bank at senior level positions.
|JOB POSITION||JOB DESCRIPTION||AVERAGE ANNUAL SALARY|
|Investment Banker||Investment bankers are responsible to assume a role in helping their client’s raise funding to back various activities and develop their organizations.||INR 9 to 10 Lacs|
|Insurance Manager||An Insurance Manager is In responsible of managing operations within a protection rehearse. Oversees specialists, agents, and appraisers.||INR 7 to 8 Lacs|
|Credit and Risk Manager||Risk managers are responsible to exhort organization on any potential risk to the productivity and presence of the enterprises. They evaluate and distinguish threats, set up plans place for if things become bad and opt how to keep away from, decrease or transfer risks.||INR 9 to 10 Lacs|
|Financial Advisor||A Financial Advisor is responsible for providing help to clients for their long-term as well as short-term financial goals.||INR 4 to 5 Lacs|
|Loan counsellor||A Loan Counsellor is responsible for processes a customer’s application materials, checking the information and works with the customers to come up with a financial plan.||INR 2 to 3 Lacs|