(1). About the Course
MBA (Wealth Management) or Master of Business Administration in Wealth Management is a two-year Post-Graduate degree program. A full-time Master of Business Administration in Wealth Management wishes 4 semesters of six months each. Wealth control is a complicated expert carrier that entails accounting, taxation, retirement planning, and criminal or property planning.
Clients work with an unmarried wealth supervisor who coordinates entry from economic professionals and subsequently includes coordinating advice from the client's attorney, accountants, and insurance agent. Some wealth managers additionally offer banking offerings or recommendations on philanthropic activities. Wealth management is more than just investment advice, as it encompasses all aspects of an individual’s financial life.
The underlying idea of the concept of wealth management is that rather than trying to integrate pieces of advice and various products from a series of professionals, individuals with high net worth benefit from a holistic approach in which a single manager Coordinates all of the offerings had to manipulate their cash and plan for his or her very own or their family's modern and destiny needs.
While the function of a wealth supervisor is to offer offerings in components of the monetary field, a few select to specialize, especially in areas. This can be primarily based totally on the information of the wealth supervisor in a query or the number one cognizance of the enterprise inside which the wealth supervisor operates.
The average annual course fee in India ranges between INR 35,000- 1,40,000, depending upon the institute offering the course. The basic eligibility criterion to pursue the course is graduation completed from a recognized university with a minimum aggregate score of 60%. The average annual starting salary offered in India to successful postgraduates of the course ranges between INR1,00,000-9,00,000 depending upon the candidate’s expertise in the field.
Listed below are some of the major highlights of the course:
|Course Name||Master of Business Administration in Wealth Management|
|Course Duration||2 year|
|Eligibility Criteria||Graduation with a minimum aggregate score of 60% from a recognized university|
|Examination Type||Semester based|
|Average Annual Fee||INR 35,000-1,40,000|
|Average Annual Salary||INR 1,00,000-9,00,000|
|Job Profiles||Investment Analyst, Relationship Manager, Equity Analyst, Wealth Manager, etc.|
|Top College||M.M. Institute of Management, SVIIT, Venkateshwara open university, MIT School of distance management, etc.|
Why study MBA in Wealth Management?
(i). India has witnessed a significant increase in the number of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in recent years. This has led to a surge in demand for skilled wealth management professionals who can effectively manage and grow their financial assets. Pursuing an MBA in Wealth Management positions you to take advantage of this growing demand and opens up exciting career opportunities in the financial services industry.
(ii). An MBA in Wealth Management provides specialized knowledge and skills that are specifically tailored to the unique requirements of managing wealth. The program equips you with a deep understanding of investment strategies, portfolio management techniques, financial planning, taxation, estate planning, and risk management. This expertise sets you apart from general business graduates and prepares you for a successful career in wealth management.
(iii). Studying an MBA in Wealth Management enhances your career prospects in the financial services sector. You can pursue roles such as wealth manager, financial advisor, investment analyst, portfolio manager, private banker, or relationship manager in banks, asset management firms, wealth management companies, financial advisory firms, or even establish your wealth management consultancy. The specialized knowledge and skills gained during the program make you a valuable asset to employers and clients.
(iv). Wealth management is closely intertwined with financial markets. Studying for an MBA in Wealth Management provides you with a comprehensive understanding of financial markets, investment vehicles, market trends, and risk factors. This knowledge enables you to make informed investment decisions, analyze market opportunities, and develop effective wealth management strategies for clients.
(v). An MBA program offers valuable networking opportunities with fellow students, faculty, industry professionals, and guest speakers. These connections can be instrumental in securing internships, and job placements, and building professional relationships within the wealth management industry. Networking helps you stay updated with industry trends, gain insights from experienced professionals, and open doors to new opportunities.
(vi). Many MBA programs in Wealth Management incorporate practical learning experiences, such as case studies, real-world projects, internships, and industry interactions. These opportunities allow you to apply theoretical concepts to real-life scenarios, develop practical skills, and gain hands-on experience in wealth management. Practical learning enhances your employability and prepares you to tackle the challenges of the industry.
(vii). Studying wealth management not only benefits your career but also equips you with the knowledge and skills to manage your finances effectively. You gain insights into financial planning, investment strategies, risk management, tax planning, and estate planning, which can be applied to your own financial well-being and long-term financial goals.
(2). Admission Process
MBA in Wealth Management admission takes location via national, state, or university-degree front assessments consisting of CAT, XAT, SNAP, NMAT, etc. The admissions are primarily based totally on institution dialogue and private interviews publishing the doorway exam. The institutes use GD/PI to have a look at every candidate's attributes that cannot be measured with the aid of using their educational rating or front examination result.
Types of MBA in Wealth Management Courses
Aspirants can join the MBA in Wealth Management application full-time or part-time. The following are the numerous varieties of MBA in Wealth Management publications in detail:
Many institutions and colleges in India offer a distance learning MBA in Wealth Management distance learning program. The course is designed to study the Distance Education paradigm. This direction is designed for college students who can not manage to pay to wait for instructions on campus or who work full-time and are unable to spend the time required to complete a full-time course.
The full-time MBA in Wealth Management program lasts two years, during which time college students should attend instructions in person, entire assignments, and take checks on campus. Students will get hold of plenty greater exposure, experience, and records thru direct engagement with their classmates and teachers in a full-time MBA in Wealth Management program.
Students who are unable to attend normal classes can enroll in the part-time MBA in Wealth Management program. Part-time courses may include weekend or evening classes, as well as online classes, depending on the type of course. A part-time MBA in Wealth Management program has the advantage of allowing students to complete it while working or attending to other obligations.
aspiring applicants ought to have certified for his or her Bachelor's degree in
any applicable discipline or equal qualification from a diagnosed University.
(ii). The applicants should have secured at least 55% combination marks or equal to their Bachelor's.
Accepted Entrance Exam
The specific entrance exams required for admission to an MBA in Wealth Management program in India may vary depending on the institution offering the program. However, here are some common MBA entrance exams accepted by many business schools in India:
Common skills required for an MBA in Wealth Management include:
|Project management skills||Organization skills||Leadership skills|
|Business awareness||Decision making||Management skills|
|Confidence||Stress management||Understanding of design practices|
|Research skills||Problem-solving||Creative Thinking|
MBA in Wealth Management fees is not set in stone and is determined by various factors. Location, faculty, demand, infrastructure, and the resources offered to students are all factors that influence MBA prices. The average fee may range from around INR 35,000-1,40,000.
|Name of College||Average Fee|
|Venkateshwara open university, Mumbai||INR 53,200|
|MIT School of distance management, Pune||INR 48,500|
|M.M. Institute of Management, Haryana||INR 60,000|
|Venkateshwara Open University, Nagpur||INR 62,000|
|VIIT, Chandigarh||INR 35,000|
In India, the choice system for MBA in Wealth Management publications is essentially the same. In maximum cases, after receiving a utility for a course, universities determine the very last choice of applicants primarily based totally on their entrance examination ratings accompanied via way of means of an interview. Furthermore, the candidate's instructional achievements at some point in their undergraduate tiers play an important influence.
(3). Course Comparison
MBA in Wealth Management v/s MBA in Fashion Designing
MBA in Wealth Management is a degree program designed for students interested in and oriented toward wealth and management. The distinctions between MBA in Wealth Management and MBA in Fashion Designing are shown in the table below:
|Parameters||MBA in Wealth Management||MBA Fashion Designing|
|Course Name||Master of Business Administration in Wealth Management||Master of Business Administration in Fashion Designing|
|Course Overview||Master of Business Administration in Wealth Management is a two-year Post-Graduate degree program. A full-time Master of Business Administration in Wealth Management wishes 4 semesters of six months each. Wealth control is a complicated expert carrier that entails accounting, taxation, retirement planning, and criminal or property planning.||MBA in Fashion Designing is a two-year postgraduate control route that offers to grow and maintain the logo picture and reputation of the product via media and advertising. This route serves as a useful feature for aspirants with an in-intensity understanding of the style of enterprise and business.|
|Course Duration||2 Years||2 years|
|Eligibility||Graduation with a minimum aggregate score of 60% from a recognized university||Bachelor’s degree with 50% marks and valid scores in any MBA exams at the national level.|
|Course Stream||Management||Fashion Designing|
|Entrance Exams||CAT, XAT, SNAP, NMAT||XAT, MAT, CEED, NID DAT, NIFT, IICD, IIAD|
|Average Annual Fees||INR 35,000-1,40,000||INR 1,00,000-6,00,000|
|Average Annual Salary||INR 1,00,000-9,00,000||INR 3,00,000-20,00,000|
|Top Colleges||M.M. Institute of Management, SVIIT, Venkateshwara open university, Venkateshwara open university|
NIFT Bangalore - National Institute of Fashion Technology, Visva Bharati University - Visva-Bharati, NIFT Chennai - National Institute of Fashion Technology
Read More: MBA Fashion Designing
While the availability and fees of an MBA in Wealth Management programs may vary over time, here are some top colleges in India that have offered MBA programs with a specialization in Wealth Management:
|Name of College||Average Annual Fee(INR)||Location|
|Indian Institute of Foreign Trade (IIFT)||INR 17,00,000-19,00,000||Delhi and Kolkata|
|Amity University||INR 5,00,000-6,00,000||Noida|
|BSE Institute Ltd.||INR 3,00,000-4,00,000||Mumbai|
|Indian School of Business (ISB)||INR 40,00,000-45,00,000||Hyderabad|
|S.P. Jain Institute of Management and Research (SPJIMR)||INR 17,00,000-20,00,000||Mumbai|
|Narsee Monjee Institute of Management Studies (NMIMS)||INR 20,00,000-25,00,000||Mumbai|
|Indian School of Business and Finance (ISBF)||INR 7,00,000-8,00,000||New Delhi|
|Institute of Management Technology (IMT)||INR 17,00,000-20,00,000||Ghaziabad|
|Symbiosis School of Banking and Finance (SSBF)||INR 10,00,000-12,00,000||Pune|
|Xavier Institute of Management (XLRI)||INR 23,00,000-25,00,000||Jamshedpur|
|Indian Institute of Management (IIM)||INR 25,00,000-27,00,000||Ahmedabad|
Please note that the fees mentioned are approximate and can vary from year to year. It is advisable to visit the respective college's official website or contact their admissions department to get the most accurate and up-to-date information regarding fees and admission requirements for MBA in Wealth Management programs.
City-wise MBA in Wealth Management college
Here are some cities in India known for offering MBA programs in Wealth Management or related specializations:
|Name of City||Name of College|
|Mumbai||Narsee Monjee Institute of Management Studies (NMIMS)|
|Jamnalal Bajaj Institute of Management Studies (JBIMS)|
|S.P. Jain Institute of Management and Research (SPJIMR)|
|NMIMS School of Business Management (SBM)|
|Delhi NCR||Indian Institute of Foreign Trade (IIFT)|
|Faculty of Management Studies (FMS) - University of Delhi|
|International Management Institute (IMI)|
|Lal Bahadur Shastri Institute of Management (LBSIM)|
|Management Development Institute (MDI)|
|Indian School of Business and Finance (ISBF)|
|Bangalore||Indian Institute of Management Bangalore (IIMB)|
|Xavier Institute of Management and Entrepreneurship (XIME)|
|Symbiosis Institute of Business Management (SIBM)|
|Hyderabad||Indian School of Business (ISB)|
|Institute of Management Technology (IMT)|
|Chennai||Loyola Institute of Business Administration (LIBA)|
|Great Lakes Institute of Management|
|Kolkata||Indian Institute of Management Calcutta (IIMC)|
|Xavier School of Management (XLRI)|
(5). Job & Placements
Professionals of the course are exposed to a variety of business, strategy, and market-related assignments, and trained in the requisite skills needed for asset management and delivery of estate and trust services to affluent clients around the world. Generalists of the discipline dabble in several business units including RBC Global Asset Management, RBC Dominion Securities, and other emerging markets divisions.
The most popular job roles that are offered to students with MBA in Wealth Management are:
|Job Profile||Job Description|
|Relationship Manager||Relationship Managers are responsible for primarily dealing with individual retail customers and Advising them on numerous banking and monetary services and products supplied via way of means of the bank. A wholesale Relationship Manager would be catering to corporate clients like SMEs or large corporations.|
|Product Manager||Product managers oversee the product line budgets and make important financial decisions. They report on their performance to the product director of the organization. They can also develop training materials, and sales strategies, and develop effective product plans in order to increase overall sales. They cooperate with other departments in their organization to achieve common company objectives.|
|Senior Investment Manager||Senior Investment Managers are responsible for providing research and records to assist traders, fund managers, and inventory agents make selections approximately investments. The statistics they offer guarantee funding portfolios are properly controlled and that capacity funding possibility are highlighted. Some analysts paintings for funding control companies, presenting statistics to in-residence fund managers, and others paintings for stockbrokers and funding banks, in which their studies are wanted via way of means of Portfolio Managers or via way of means of customers who make their personal funding decisions.|
|Wealth Manager||Wealth Managers are responsible for functioning in a wide range of fields, such As economic planning, funding management, and economic recommendation on pensions, trusts, inheritances, and tax bands. Often, wealth control offerings are provided via way of means of excessive avenue banks with the intention of attracting excessive-price customers.|
|Portfolio Manager||A portfolio Manager is a financial professional who is responsible for investing money. They also handle the products like mutual funds. The portfolio manager has massive experience in asset management and investment.|
|Practice as an Independent Financial Advisor||Financial advisors work with individual or institutional clients to assess their financial needs or help such as choosing investments, setting short-term or long terms goals, and so forth.|
|Investment Analyst||Investment Analysts are responsible for providing stockbrokers, fund managers, and stock market traders with financial information, advice, and recommendations derived from global investment data.|
|Equity Analyst||Equity Analysts are responsible for providing analyses of securities information to Portfolio Managers to aid in the investment process. The purpose of the research is to aid in trading strategies and portfolio selection.|
Some of the top recruiters for candidates having obtained wealth management degrees/certifications at low, mid, or high levels are mentioned below:
|Kotak Mahindra Bank||UBS||Bank of America Corporation|
|Mercer LLC||ICICI Securities Limited||Envestnet|
|HSBC Electronic Data Processing India Pvt. Ltd.||Barclays Bank PLC||Bajaj Capital Ltd.|
The table below gives an idea of the salary range for an MBA in Wealth Management graduate:
|Job Role||Average Annual Salary(INR)|
|Practice as an Independent Financial Advisor||INR 4,00,000|
|Senior Investment Manager||INR 1,80,000|
|Portfolio Manager||INR 10,00,000|
|Product Manager||INR 13,00,000|
|Relationship Manager||INR 4,00,000|
|Equity Analyst||INR 3,97,000|
The scope of an MBA in Wealth Management in India is quite promising due to the growing demand for skilled professionals in the field. Here are some key aspects that highlight the scope of pursuing an MBA in Wealth Management in India:
Career options after MBA in Wealth Management
After completing an MBA in Wealth Management in India, you have a wide range of career options in the financial services industry. Here are some popular career paths for MBA graduates in Wealth Management:
Scope for Higher Education
Graduate students with an MBA in Wealth Management degree have several better schooling alternatives open to them, which could assist them in higher recognizing the subject. Furthermore, if students are interested in pursuing a job in research, getting additional knowledge can assist them in doing so. Some of the most popular higher education alternatives for students are listed below:
Skills that make you the best MBA in Wealth Management Graduate
MBA in Wealth Management graduates must possess a variety of complex and soft skills to be successful in their employment. These are not constant competencies that may be taught in a classroom. These are abilities that might be pleasant to be observed via practice. As a result, college students ought to make each attempt to enlarge their horizons and benefit as lots revel in as possible. Among these abilities are:
(1). What is MBA in Wealth management?
Ans. MBA (Wealth Management) is a two-year Post-Graduate degree program. A full-time Master of Business Administration in Wealth Management wishes 4 semesters of six months each. Wealth control is a complicated expert carrier that entails accounting, taxation, retirement planning, and criminal or property planning.
(2). What are the average MBA in Wealth management Course Fees?
Ans. The average MBA in Wealth management course fees vary from INR 35,000-1,40,000.
(3). How do I become a Wealth Manager?
Ans. Candidates can become wealth managers after completing the course at a certain level. Candidates must possess the desired skillsets to attain the position of Wealth Manager.
(4). What are the eligibility criteria to pursue the wealth management course at the PG level?
Ans. To pursue the wealth management course at PG level candidates must have completed the graduation from a recognized university with a minimum of 60% marks in aggregate. Aspirants must obtain a valid score in any of the national level entrance exams CAT/NMAT/MAT/GMAT for admission to the PG course.
(5). What is the average salary of a wealth manager?
Ans. The average salary for a wealth manager is INR 9,48,000 per annum.
(6). Which are the top recruiters after completing the course?
Ans. Some of the top recruiters for wealth management graduates are:
(7). What is the duration of the wealth management course?
Ans. The duration of the UG course is three years, PG/Diploma course is 2 years and for certification course it varies from 12 -18 months.
(8). What are the topics studied in MBA in Wealth management?
Ans. This course aims to train the aspirants in a deep understanding of management, marketing, Operations Management, Management Information Systems, and many more about the wealth industry in India.
(9). How do I start my career in wealth management?
Ans. To gain the necessary experience, you can consider getting internships with financial or legal companies while you pursue your education. Working in entry-level or mid-level positions as a financial planner, financial adviser, account relationship manager or banker can also help you to get wealth management roles.
(10). Is there a demand for wealth management?
Ans. The wealth management field is growing and dynamic, with an increasing demand for financial planning services and investment management advice.