Finding the top MBA finance colleges in India for 2024 can be challenging as there are so many options. However, focusing on key criteria like reputation, career outcomes, cost, and program expertise can help you determine which institutions are truly the best.
In this article, you’ll discover a ranking of the top 5 Best MBA finance colleges in India based on in-depth research and analysis. The colleges on the list excel in areas such as job placement rates, starting salaries for graduates, quality of faculty, and more. As you read the details of each college and learn why it stands out for an MBA in finance, you’ll find information to help inform your own application and admissions process. Whether you’re looking to advance your finance career or enter the field, this list highlights the key academic programs to target.
Table of Contents
What is MBA in Finance?
An MBA in Finance is a postgraduate degree that combines advanced finance and management topics. It is designed for those who want to pursue careers in accounting, financial planning, banking, and other finance-related fields. The curriculum covers financial theory, mathematics, quantitative finance, investments, markets, and more.
Coursework
The coursework in an MBA Finance program typically includes:
- Corporate Finance: Analyzing investment decisions, capital budgeting, risk, and return.
- Financial Markets and Institutions: Understanding global financial markets, intermediaries, regulatory frameworks, and instruments like stocks, bonds, derivatives, etc.
- Financial Statement Analysis: Evaluating financial reports, calculating ratios, and analyzing a company’s performance and risks.
- Portfolio Management: Applying modern portfolio theory for optimal investment selection, diversification, and risk management.
Career Prospects
An MBA in Finance opens up opportunities in investment banking, financial analysis, portfolio management, corporate finance, and other high-paying careers. According to Glassdoor, the average salary for an MBA Finance graduate in India is over ₹20 lakhs per annum. Top recruiters include Goldman Sachs, J.P. Morgan, Morgan Stanley, Deloitte and KPMG.
5 Best MBA Finance Colleges In India: Eligibility and Course Fee
5. Faculty of Management Studies (FMS), Delhi
Faculty of Management Studies (FMS), Delhi is ranked among the top MBA colleges in India. FMS Delhi is affiliated with the University of Delhi and is accredited by the National Assessment and Accreditation Council (NAAC) with an ‘A’ grade.
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Highly Qualified Faculty
FMS Delhi has highly qualified faculty with a focus on excellence in teaching and research. Faculty members have postgraduate and doctoral degrees from top universities in India and abroad. They have extensive industry and research experience, which helps in blending academic knowledge with practical insights. The faculty and student ratio at FMS Delhi is 1:10 which ensures individual attention to each student.
Industry Relevant Curriculum
The two-year full-time MBA program at FMS Delhi offers a contemporary curriculum with a focus on analytical, communication, and interpersonal skills relevant to leadership roles in the industry. The program offers dual specialization in Finance and Marketing or Finance and Operations. Students can choose from a wide range of elective courses in the areas of Investment Banking, Risk Management, Financial Markets, etc. to gain in-depth knowledge in the field of finance.
Excellent Placement Opportunities
FMS Delhi has an excellent placement record with the highest CTC of Rs 1.5 crore and the average CTC of Rs 22.9 LPA in 2020. Top recruiters at FMS Delhi include Goldman Sachs, Citibank, HSBC, ICICI Bank, Tata Administrative Services, etc. Around 92% of MBA students at FMS Delhi were placed in 2020. The college also provides internship opportunities in leading companies to help students gain valuable work experience.
4. Indian School of Business (ISB), Hyderabad
The Indian School of Business (ISB) is a private business school with campuses in Hyderabad and Mohali, India. According to the Financial Times, ISB is ranked #4 in India for the Master of Business Administration in Finance.
Prestigious Faculty and Global Connections
ISB recruits professors from top universities around the world, including Northwestern University, New York University, and the London Business School. The school’s global connections provide opportunities for student exchanges and internships with leading multinational companies.
Specialized Curriculum
ISB’s Finance MBA course prepares students for careers in asset management, investment banking, private equity, and venture capital. Core courses include Corporate Finance, Financial Statement Analysis, Fixed Income Securities, and Derivatives. Students can further specialize in areas such as fintech, healthcare finance, infrastructure finance, and risk management.
A Fast-Track Program
ISB’s one-year MBA program is an accelerated alternative to the traditional two-year MBA. The fast-track curriculum covers all major areas of finance and business in an intensive, full-time program. Students graduate prepared to take on leadership roles in the finance industry.
Career Support and Opportunities
ISB’s dedicated Career Advancement Services team provides guidance and resources for internships and full-time jobs. Top recruiters at ISB include Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Deloitte. The school also regularly organizes career events and talks by industry leaders.
3. Indian Institute of Management (IIM), Calcutta
As one of the first Indian Institutes of Management (IIMs) established in 1961, IIM Calcutta is a prestigious business school that offers a two-year MBA program in Finance. Students receive a rigorous education in finance and accounting, learn from experienced faculty members, and gain valuable real-world experience.
Comprehensive Curriculum
The MBA Finance program curriculum at IIM Calcutta covers all aspects of finance and accounting. Core courses include Financial Management, Security Analysis and Portfolio Management, International Finance, Mergers and Acquisitions, and Accounting for Management. Students can choose electives from areas such as Financial Econometrics, Financial Modeling, and Derivatives. Soft skills and leadership development are also emphasized.
Renowned Faculty
IIM Calcutta is known to attract top faculty in finance and accounting. Most professors have PhDs degrees from reputable institutions and have years of industry experience. They are also actively involved in research, and publishing in leading academic journals. Under their guidance, students receive rigorous education and valuable mentorship.
Valuable Internships
As part of the MBA Finance program, students complete summer internships at major corporations, investment banks, consulting firms, and other reputable organizations. These intensive 3-month internships provide students with the opportunity to gain hands-on experience, apply what they have learned, build their professional networks, and often receive job offers after graduation.
Career Support
IIM Calcutta offers career support services to help students explore various career paths and find jobs after completing their MBA. The placement office conducts on-campus recruitment, where several leading companies across industries recruit directly from the program. Recent graduates have gone on to have successful careers as investment bankers, financial analysts, portfolio managers, and finance executives in leading corporations.
2. Indian Institute of Management (IIM), Bangalore
Indian Institute of Management (IIM), Bangalore is one of the top MBA colleges in India, especially for Finance. Established in 1973, IIMB is a premier business school that provides high-quality management education and develops innovative leaders and entrepreneurs. IIMB’s two-year full-time Post Graduate Programme in Management (PGP) is the flagship course with a focus on Finance.
Academic Curriculum
The curriculum at IIMB is rigorous and provides students with a strong conceptual foundation in finance and accounting. Core courses in the first year cover Financial Accounting, Management Accounting, Corporate Finance, Security Analysis, and Portfolio Management. In the second year, students can choose from elective subjects such as Mergers and Acquisitions, International Finance, Financial Modeling, and Financial Econometrics. Students also complete a mandatory 8-week summer internship at a finance firm to gain valuable on-the-job experience.
Renowned Faculty and Global Exposure
IIMB has an excellent faculty with doctorates from reputed universities worldwide. The faculty frequently publishes in top-tier journals and has won several awards. Students benefit from the expertise of the faculty and also gain global exposure through student exchange programs with leading business schools in Europe, Southeast Asia, Australia, and North America.
Career Support
IIMB provides career support to help students find jobs in their field of interest. The college has a dedicated Career Development Services team that conducts pre-placement talks, mock interviews, and resume-building workshops. Top recruiters at IIMB include Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citibank. The average salary package for MBA Finance students is over ₹25 lakh per annum, making IIMB a rewarding choice for ambitious finance professionals in India.
1. Indian Institute of Management (IIM), Ahmedabad
Indian Institute of Management, Ahmedabad or (IIMA) is recognized as the top B-school in India for MBA in Finance. Established in 1961, IIMA is the first IIM established by the Government of India.
Highly Ranked Program
IIMA’s two-year Post Graduate Program in Management (PGP) is ranked first in India by several ranking publications. The PGP program is also accredited by the Association of MBAs (AMBA), indicating the high standard of the faculty and curriculum. Within the PGP, students can specialize in finance to prepare for leadership roles in the financial sector.
Renowned Faculty
IIMA has over 100 faculty members, many of whom hold PhD degrees from Harvard, Wharton, Stanford, and other prestigious universities. The faculty are experts in fields like corporate finance, financial markets, risk management, and fintech. Students benefit from the faculty’s industry experience, research work, and mentorship.
Strong Industry Connect
IIMA has a Centre for Innovation, Incubation, and Entrepreneurship that partners with companies in the financial sector. Students gain valuable industry exposure through internships, live projects, guest lectures, and placements. More than 180 companies participate in the final placement process at IIMA every year, offering students attractive job opportunities and compensation packages.
World-Class Infrastructure
IIMA’s 203-acre campus includes state-of-the-art classrooms, residential facilities for students and faculty, a library with over 400,000 books and periodicals, sports facilities, and more. IIMA also has an incubation centers and startup hubs on its campus to foster the entrepreneurial spirit.
Tips for Getting Into the Best MBA Finance Programs
To gain admission into the top MBA finance programs in India, several key strategies must be employed. Focusing your efforts in these areas can help ensure that your application is as competitive as possible.
First, earn high GMAT or GRE scores. The Graduate Management Admission Test and Graduate Record Examination are standardized tests that assess critical thinking and analytical skills. Try to score in the top 10-20% of students admitted to your target schools. Prepare thoroughly for the exam by studying the subject areas, taking official practice tests, and working with a tutor if needed.
Next, develop a compelling application essay. Your essay is an opportunity to convey your passion for the field of finance and illustrate how an MBA will help you achieve your career goals. Discuss relevant internships, work experience, skills, and interests that have prepared you for the program. Present a clear vision for how the degree will enable you to make a meaningful contribution to the finance industry.
Also, obtain strong letters of recommendation from professors and employers who can speak to your abilities and potential in the field of finance. Meet with them to discuss your goals and ask if they are able to write a persuasive letter advocating for your admission. Provide them with a copy of your resume and essay to help them understand your interests and objectives.
Finally, gain relevant work experience in finance, build a network, and participate in extracurricular activities. Do an internship at a finance firm, join finance clubs at your university, stay up-to-on with trends in the field, and connect with people currently in MBA finance programs. Schools want candidates who have a demonstrated interest and competence in finance.
Frequently Asked Questions (FAQs):
How can I decide which MBA Finance College is best for me?
There are several factors to consider when determining which of the top MBA Finance colleges in India is the best optimal choice for you. First, consider the location and setting of the college, whether you prefer a metropolitan city or a smaller town. Also, evaluate the faculty and curriculum to determine if the focus and specialization match your interests, such as investment banking, corporate finance, or financial markets.
What are the admission requirements for the top MBA Finance colleges?
The admission requirements for the premier MBA Finance programs in India typically include:
- A bachelor’s degree (any stream) with a minimum of 50% aggregate marks
- A competitive score in the Common Admission Test (CAT) or equivalent exam
- Strong performance in the Group Discussion (GD) and Personal Interview (PI) rounds of the admission process
- Work experience of 2-3 years in a finance or business role is preferred but not always mandatory
What is the course curriculum for an MBA in Finance?
The curriculum at the top MBA Finance colleges covers fundamental concepts in finance and accounting, as well as specialized electives. Core courses usually include:
- Financial Management
- Financial Markets and Institutions
- Security Analysis and Portfolio Management
- Mergers and Acquisitions
- International Finance
- Strategic Cost Management
- Financial Derivatives
In addition, optional subjects enable students to focus on areas like investment banking, financial risk management, or banking regulation. Practical components such as internships, projects, and workshops also provide valuable practical learning.
What career opportunities can I pursue after an MBA in Finance?
An MBA in Finance opens up a range of lucrative career paths in India’s fast-growing financial sector. Some of the prominent jobs for MBA Finance graduates include:
- Investment Banker – Help companies raise funds through equity and debt financing
- Portfolio Manager – Professionally manage investment portfolios to maximize returns
- Corporate Financial Analyst – Support strategic decision-making through financial modeling and data analysis
- Management Consultant – Provide advisory services to top management of companies to drive business growth
- Private Equity Associate – Assist in making private equity investments for high-net-worth individuals or institutional investors