Online MBA in Banking Financial Insurance - Dayananda Sagar College of Engineering (DSCE), Bengaluru

  • Years 2 Years
  • Type Course Post Graduate
  • stream Management
  • Delivery Mode
Written By universitykart team | Last updated date May, 06, 2024

Online MBA in Banking Financial Insurance: Courses, Eligibility, Top Colleges, Syllabus, Admission Process, Fees, Exams, Jobs

An Online MBA in Banking Financial Insurance is a specialized course designed for individuals aspiring to pursue careers in the financial industry, with a particular focus on banking, finance, and insurance sectors. This course provides a comprehensive understanding of the key concepts, principles, and practices related to the financial services industry, equipping students with the necessary knowledge and skills to succeed in various roles within the sector. The online format of the course offers flexibility and convenience, allowing students to pursue their studies while balancing other personal and professional commitments. It typically includes a combination of online lectures, virtual discussions, case studies, and interactive learning activities, facilitated by experienced faculty members and industry professionals.

The curriculum of the program covers a wide range of topics, including financial management, investment banking, risk management, insurance principles, financial analysis, corporate finance, and strategic planning. Students gain a deep understanding of the regulatory framework governing the financial industry, as well as the ethical considerations and best practices associated with banking, financial services, and insurance.

Throughout the program, students also develop essential skills in critical thinking, problem-solving, data analysis, and decision-making, which are highly valued in the financial sector. They learn to evaluate financial risks, develop strategies to optimize financial performance and make informed decisions based on market trends and economic conditions.

An MBA in Banking and Financial Insurance Online course often includes industry-specific projects and internships, providing students with hands-on experience and exposure to real-world scenarios. These practical opportunities allow students to apply their knowledge and skills in a practical setting, enhancing their understanding of the industry and building valuable networks.

Upon completion of the program, graduates are equipped with a strong foundation in banking, finance, and insurance, making them eligible for a wide range of job opportunities in the financial services industry. They can pursue roles such as investment analyst, financial consultant, risk manager, bank manager, insurance underwriter, or financial planner, among others. Additionally, the MBA qualification enhances their career prospects and opens doors to leadership and managerial positions within the industry.

In conclusion, an MBA in Banking and Financial Insurance Online offers a comprehensive and flexible learning experience for individuals seeking to build a successful career in the financial sector. With a focus on banking, finance, and insurance, the program equips students with the necessary knowledge, skills, and industry insights to thrive in the dynamic world of finance.

Highlights - Online MBA in Banking Financial Insurance Course Details

Here are the major key highlights of the course Online MBA in Banking Financial Insurance:

Course Name Online MBA in Banking Financial Insurance
Duration 2 years
Level Postgraduate
Mode Online
Eligibility Criteria Bachelor's degree in any discipline
Admission Process Entrance exam or merit-based selection
Average Annual Fees INR 2,00,000 - INR 5,00,000
Average Annual Salary INR 5,00,000 - INR 15,00,000
Employment Areas Banks, Financial Institutions, Insurance Companies, Investment Firms, Consulting Firms, Regulatory Bodies
Job Roles Investment Analyst, Financial Consultant, Risk Manager, Bank Manager, Insurance Underwriter, Financial Planner, Relationship Manager, Business Analyst
Top Recruiters State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finance, Kotak Mahindra Bank, LIC, Tata AIG, Aditya Birla Capital, Deloitte, Ernst & Young, KPMG, PwC, Accenture, McKinsey & Company

Why Online MBA in Banking Financial Insurance?

There are several reasons why pursuing an Online MBA in Banking and Financial Insurance can be a beneficial choice for individuals interested in the financial industry. Here are some key reasons:

(1). Adaptability in the Digital Era

The financial industry is undergoing rapid digital transformation, and an Online MBA in Banking and Financial Insurance equips students with the skills and knowledge to navigate this evolving landscape. By pursuing the program online, students gain firsthand experience in leveraging digital tools, platforms, and data analytics for financial analysis, risk management, and strategic decision-making. This adaptability to technological advancements prepares graduates to thrive in the digital era of finance.

 (2). Global Perspective and Networking

Online MBA programs often attract students from perse backgrounds and geographies. This global cohort brings together a rich mix of perspectives and experiences, fostering cross-cultural learning and networking opportunities. Engaging with professionals from different parts of the world enables students to develop a broader understanding of global financial markets, regulatory frameworks, and emerging trends. It also creates a robust network that extends beyond borders, offering valuable connections for future collaborations and international career opportunities.

 (3). Continuous Professional Growth

Pursuing an Online MBA in Banking and Financial Insurance demonstrates a commitment to continuous professional growth and development. Employers value candidates who invest in their education and seek to enhance their skills in a competitive industry. By pursuing the program online, students showcase their ability to balance multiple responsibilities, exhibit self-discipline, and leverage technology for remote collaboration and learning—qualities that are highly sought after in today's dynamic work environment.

(4). Resilience and Time Management

The online learning format requires self-motivation, discipline, and effective time management skills. By completing an Online MBA program while managing personal and professional commitments, students demonstrate their resilience, ability to prioritize tasks and meet deadlines—skills that are highly valued in the fast-paced and demanding financial industry. This experience showcases their ability to handle pressure, adapt to changing circumstances, and deliver high-quality work within tight timelines.

(5). Access to perse Faculty Expertise

Online MBA programs often bring together a purse and experienced faculty team comprising industry experts, practitioners, and renowned academics. Through virtual lectures, discussions, and interactions, students gain access to a wide range of expertise and perspectives. This exposure to perse faculty members enhances the learning experience, fosters critical thinking, and provides practical insights into the real-world challenges faced in the banking, financial, and insurance sectors.

(6). Cost-Effectiveness and Career Advancement

Pursuing an Online MBA can be a cost-effective option compared to full-time, on-campus programs. Online programs often offer competitive tuition rates, eliminate the need for relocation or commuting expenses, and allow students to continue working while studying. This affordability, combined with the specialized knowledge and skills acquired during the program, positions graduates for career advancement, higher earning potential, and opportunities for leadership roles within the financial industry.

Online MBA in Banking Financial Insurance Admission Process

The admission process for an Online MBA in Banking Financial Insurance typically involves the following steps:

(1). Candidates need to fill out the application form provided by the respective institution offering the program. The application form may be available online on the institution's website.

(2). Candidates are usually required to submit supporting documents, including academic transcripts, degree certificates, work experience certificates (if applicable), entrance exam scorecards (if required), and any other documents specified by the institution.

(3). If an entrance exam is required, candidates need to register for the exam, appear for it, and submit their scores as part of the application process.

Selection/Shortlisting: Institutions may shortlist candidates based on their application, academic performance, work experience (if applicable), and entrance exam scores (if required).

Online MBA in Banking Financial Insurance Eligibility Criteria

The eligibility criteria for an Online MBA in Banking and Financial Insurance may vary slightly among different institutions. However, the general eligibility criteria are as follows:

(1). Candidates should possess a bachelor's degree in any discipline from a recognized university or institution.

(2). Most institutions require a minimum aggregate score, typically ranging from 50% to 60%, or a minimum CGPA (Cumulative Grade Point Average) to qualify for admission.

(3). While not always mandatory, some institutions may prefer candidates with relevant work experience in the banking, finance, or insurance sectors. This criterion varies, with some programs specifically designed for professionals with prior industry experience.

(4). Some institutions may require candidates to appear for entrance exams such as CAT (Common Admission Test), XAT (Xavier Aptitude Test), GMAT (Graduate Management Admission Test), or institution-specific tests. The exam score may be considered in the admission process.

Online MBA in Banking Financial Insurance Entrance Exam

Entrance exams for Online MBA in Banking Financial Insurance assess candidates' skills in quantitative aptitude, verbal ability, logical reasoning, and general knowledge, with some including a banking and finance section. Various institutes have different exam requirements, but common ones include CAT, GMAT, XAT, MAT, and SNAP. Certain institutes, like the Indian School of Business (ISB), have their own entrance exams, such as the ISB Aptitude Test (IAT), for Online MBA admissions.

Online MBA in Banking Financial Insurance Selection Process

The selection process for an Online MBA in Banking Financial Insurance typically involves the following steps:

(1). Application Review: The institution reviews the submitted applications, considering factors such as academic qualifications, work experience (if applicable), entrance exam scores (if required), and other relevant criteria.

(2). Shortlisting: Based on the application review, the institution shortlists candidates who meet the desired criteria for further evaluation.

(3). Interview/GD (Group Discussion): Shortlisted candidates may be invited to participate in an interview and/or group discussion round. These interactions assess the candidate's communication skills, subject knowledge, critical thinking, and problem-solving abilities. Group discussions may focus on evaluating teamwork, leadership skills, and the ability to express opinions effectively.

(4). Final Selection: The final selection is based on the overall evaluation, considering the candidate's application, interview performance, group discussion performance, and other selection criteria specified by the institution. The institution then notifies the selected candidates and provides them with the necessary information to proceed with the admission process.

Other Online MBA Specialization

Below are some of the best majors and the list of online MBA courses:

Online MBA in FinanceOnline MBA in Marketing Management
Online MBA in HR ManagementOnline MBA in Hospitality Management
Online MBA in IT ManagementOnline MBA in Banking and Finance
Online MBA in Data ScienceOnline MBA in Operations Management
Online MBA in Business AnalyticsOnline MBA in Healthcare Management
Online MBA in International BusinessOnline MBA in Project Management
Online MBA in Financial MarketsOnline MBA in Retail Management
Online MBA in Banking Financial InsuranceOnline MBA in Hospital Administration
Online MBA in International Trade ManagementOnline MBA in General Management
Online MBA in Investment Banking Equity ResearchOnline MBA in International Finance
Online MBA in HR AnalyticsOnline MBA in Digital Entrepreneurship
Online MBA in Infrastructure ManagementOnline MBA in Banking and Insurance
Online MBA in International MarketingOnline MBA in Blockchain
Online MBA in Quality ManagementOnline MBA in Agribusiness
Online MBA in Digital MarketingOnline MBA in Business Management
Online MBA in Power ManagementOnline MBA in Sports Management
Online MBA in Waste Management

Top Colleges for Online MBA in Banking Financial Insurance 

Here is a table highlighting some of the top colleges in India offering an Online MBA in Banking Financial Insurance, along with their average annual fees:

Top College Online MBA in Banking Financial Insurance Course Average Annual Fees (INR)
NMIMS Global Access School 2,50,000 - 3,50,000
Symbiosis Centre for Distance Learning 60,000 - 70,000
Amity University Online 1,50,000 - 2,00,000
Narsee Monjee Institute of Management Studies (NMIMS) Distance Learning 1,30,000 - 1,50,000
IGNOU (Indira Gandhi National Open University) 25,000 - 30,000
ICFAI University 70,000 - 90,000
Sikkim Manipal University 50,000 - 60,000
Annamalai University 40,000 - 50,000
Lovely Professional University 60,000 - 70,000
Bharathiar University 35,000 - 40,000

Online MBA in Banking Financial Insurance job and placements 

Graduates of an Online MBA in Banking and Financial Insurance can explore a wide range of job opportunities in the financial industry. The program equips students with a strong foundation in banking, finance, and insurance, making them eligible for various roles. They can pursue careers as investment analysts, financial consultants, risk managers, bank managers, insurance underwriters, financial planners, and business analysts. The specialized knowledge and skills acquired during the program enable graduates to contribute effectively to the financial sector.

When it comes to placements, reputed institutions offering Online MBA programs often have robust placement cells and industry connections. These institutions collaborate with prominent banks, financial institutions, insurance companies, investment firms, consulting firms, and regulatory bodies, which serve as potential employment areas for graduates. Some top recruiters in this domain include State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finance, Kotak Mahindra Bank, LIC, Tata AIG, Deloitte, Ernst & Young, KPMG, PwC, Accenture, McKinsey & Company, among others.

Placements for Online MBA in Banking Financial Insurance graduates are generally competitive, and the average annual salaries can vary depending on factors such as the institution, job role, work experience, and industry demand. On average, graduates can expect starting salaries ranging from INR 5,00,000 to INR 15,00,000 per annum. However, it's important to note that salaries can be higher for candidates with relevant work experience, exceptional skills, and strong performance during the hiring process.

Ultimately, the job and placement prospects for Online MBA in Banking Financial Insurance graduates are promising, with ample opportunities for growth and advancement in the financial industry. By leveraging their knowledge, skills, and professional networks, graduates can embark on successful careers in various sectors within banking, finance, and insurance, contributing to the growth and development of the industry.

Online MBA in Banking Financial Insurance Job and Salary

Here is a table outlining some common job roles in the banking, financial, and insurance sectors for individuals with an Online MBA in Banking Financial Insurance, along with their average annual salaries:

MBA in Banking Financial Insurance Job Role Average Annual Salary (INR)
Investment Analyst 8,00,000 - 12,00,000
Financial Consultant 6,00,000 - 10,00,000
Risk Manager 8,00,000 - 12,00,000
Bank Manager 8,00,000 - 15,00,000
Insurance Underwriter 6,00,000 - 10,00,000
Financial Planner 6,00,000 - 10,00,000
Relationship Manager 6,00,000 - 10,00,000
Business Analyst 6,00,000 - 10,00,000

Online MBA in Banking Financial Insurance Employment and top recruiters 

Here is a table highlighting some common employment areas and top recruiters for individuals with an Online MBA in Banking Financial Insurance:

Employment Areas Top Recruiters
Banks State Bank of India, HDFC Bank, ICICI Bank, Axis Bank
Financial Institutions Bajaj Finance, Kotak Mahindra Bank, Aditya Birla Capital
Insurance Companies LIC, Tata AIG, HDFC Life Insurance, ICICI Prudential Life Insurance
Investment Firms Franklin Templeton, Motilal Oswal, SBI Mutual Fund, Axis Mutual Fund
Consulting Firms Deloitte, Ernst & Young, KPMG, PwC, Accenture
Regulatory Bodies Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), Securities and Exchange Board of India (SEBI)
Wealth Management Companies ICICI Wealth Management, HDFC Private Banking, Kotak Wealth Management
Financial Technology (Fintech) Companies Paytm, PhonePe, Razorpay, PolicyBazaar, Zerodha
Credit Rating Agencies CRISIL, ICRA, CARE Ratings, India Ratings and Research
Non-Banking Financial Companies (NBFCs) Bajaj Finserv, Mahindra & Mahindra Financial Services, L&T Finance Holdings
Asset Management Companies HDFC Asset Management Company, Aditya Birla Sun Life Asset Management Company, UTI Asset Management Company
Stock Exchanges National Stock Exchange of India (NSE), Bombay Stock Exchange (BSE)
Investment Banking Goldman Sachs, JP Morgan, Morgan Stanley, Citibank
Insurance Broking Firms Marsh, Aon, Willis Towers Watson, Gallagher

Online MBA in Banking Financial Insurance Scope

The scope of an Online MBA in Banking and Financial Insurance is highly promising. The banking, financial services, and insurance (BFSI) sector stands as a significant cornerstone of the Indian economy. This dynamic sector experiences swift technological, regulatory, and customer-centric shifts, rendering it an exhilarating field to engage with. The demand for adept professionals equipped with pertinent expertise and skills remains notably high, further enhancing the allure of this industry.

With an Online MBA in Banking Financial Insurance, you can explore various rewarding job roles:

1. Financial Analyst: Analyze financial data, and offer insights for investment decisions.

2. Investment Banker: Help companies raise funds, and advise on mergers.

3. Risk Manager: Identify and manage business risks using financial expertise.

4. Insurance Underwriter: Assess client risk, and decide on insurance coverage.

5. Treasury Manager: Oversee finances, investments, and cash flow.

6. Marketing Manager: Develop and execute effective marketing strategies.

7. Sales Manager: Lead and motivate sales teams, and build client relationships.

These roles showcase the perse opportunities an Online MBA in Banking Financial Insurance can offer, aligning with your skills and interests.

Career opportunities after the course Online MBA in Banking Financial Insurance

After completing an Online MBA in Banking Financial Insurance, individuals can pursue the following career opportunities:

(1). Investment Analyst

(2). Financial Consultant

(3). Risk Manager

(4). Bank Manager

(5). Insurance Underwriter

(6). Financial Planner

(7). Relationship Manager

(8). Business Analyst

(9). Credit Analyst

(10). Portfolio Manager

(11). Wealth Manager

(12). Compliance Officer

(13). Insurance Claims Manager

(14). Financial Controller

(15). Asset Manager

These are just a few of the career paths that individuals can explore after completing an Online MBA in Banking and Financial Insurance. The program equips graduates with the knowledge and skills necessary to excel in various roles within the banking, financial, and insurance sectors.

Courses after Online MBA in Banking Financial Insurance 

After completing an Online MBA in Banking and Financial Insurance, individuals can explore various higher study options to further enhance their knowledge and career prospects. Some of the scope for higher studies includes:

(1). Ph.D. in Finance or Banking

(2). Executive Education Programs

(3). Advanced Certifications (CFA, FRM, CFP)

(4). Master's in a Related Field (Economics, Risk Management)

(5). Professional Qualifications (CFA, CA, CPA)

Higher studies provide opportunities for specialization, advanced research, professional development, and expanded career prospects in academia, industry, and leadership roles.

FAQS

Q1. What is the duration of an Online MBA in Banking and Financial Insurance?

A1. The duration of an Online MBA in Banking and Financial Insurance is typically 2 years, similar to a traditional MBA program.

Q2. Can I pursue an Online MBA in Banking and Financial Insurance without a background in finance?

A2. Yes, many institutions offering this program accept candidates from perse academic backgrounds. However, some basic understanding of finance and economics can be beneficial.

Q3. What are the eligibility criteria for an Online MBA in Banking and Financial Insurance?

A3. The eligibility criteria generally include a bachelor's degree in any discipline from a recognized university. Some institutions may also consider work experience and entrance exam scores.

Q4. What are the career prospects after completing an Online MBA in Banking and Financial Insurance?

A4. Graduates can pursue various roles such as investment analyst, financial consultant, risk manager, bank manager, insurance underwriter, and financial planner in banks, financial institutions, insurance companies, and consulting firms.

Q5. Can I pursue this program while working full-time?

A5. Yes, the online format of the program offers flexibility, allowing students to balance their studies with their professional commitments.

Q6. How is the online learning experience for an Online MBA in Banking and Financial Insurance?

A6. Online MBA programs typically offer interactive lectures, virtual discussions, case studies, and collaborative projects to facilitate effective learning and engagement.

Q7. What is the average annual salary for graduates of an Online MBA in Banking and Financial Insurance?

A7. The average annual salary can vary depending on factors such as job role, industry, and experience. However, it usually ranges from INR 5,00,000 to INR 15,00,000.

Q8. Are there internship opportunities available during the program?

A8. Yes, many Online MBA programs offer industry-specific projects and internships, providing practical exposure and networking opportunities.

Q9. Can I pursue further studies after completing an Online MBA in Banking and Financial Insurance?

A9. Yes, individuals can opt for higher studies such as Ph.D. programs, executive education programs, advanced certifications, or specialized master's degrees to enhance their knowledge and career prospects.

Q10. What are the top recruiters for Online MBA in Banking Financial Insurance graduates?

A10. Top recruiters in this field include State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finance, Kotak Mahindra Bank, LIC, Deloitte, Ernst & Young, KPMG, and PwC, among others.
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