Q & A
Career in finance management
Top B-schools: The Indian Institutes of Management (IIMs) are the top institutions offering postgraduate courses in management.
After my B.Tech. in mechanical engineering I worked in a software firm for three years. I am planning to do an MBA now and turn to finance sector. Please let me know some of the leading institutions that offer MBA in finance. Is MFC a suitable option to enter into the finance discipline?
SUDISH, EMAIL
Both MBA in finance and Master of Finance Control (MFC) are suitable options for those who aspire to make a career in finance. But one should always ensure the quality of education, reputation of the institution and placement assistance before taking admission.
The Indian Institutes of Management (IIMs) are the top institutions offering postgraduate programme in management. There are seven IIMs at Ahmedabad, Bangalore, Kolkata, Indore, Calicut, Lucknow and Shillong.
The IIM-CAT is held every year to admit students to the postgraduate and fellow programmes in management. Those who have a Bachelor’s degree of three-year duration with at least 50 per cent marks are eligible to appear for CAT.
In Kerala, Calicut will be the CAT centre. IIM-CAT score is valid for one year. Performance in CAT is an important factor in the admission process under which candidates are shortlisted for group discussion and personal interview.
The ranking and final selection may vary across IIMs as each of them follows a diverse set of attributes like CAT score, performance in group discussion and personal interview, academic merit, co-curricular and extra-curricular achievements, work experience and so on for admission.
For more details visit the web sites IIM-Ahmedabad ( www.iimahd.ernet.in); IIM–Bangalore ( www.iimb.ernet.in);IIM-Calcutta ( www.iimcal.ac.in);IIM-Indore ( www.iimidr.ac.in); IIM-Kozhikode ( www.iimk.ac.in); IIM-Lucknow ( www.iiml.ac.in) and RGIIM-Shillong ( www.rgiim.ac.in).
PG programmes
Almost all business schools offer postgraduate programmes in management or MBA with various specializations including Finance.
The postgraduate programme in management offered by IIM-Kozhikode aims at preparing the young graduates for senior-level managerial positions in industry. The programme is of two-year duaration, and there are 60 seats available.
The students are encouraged to specialise in two areas. The core course comprise of finance, control and accounting, quantitative methods and operations management, general management, marketing, IT and systems, strategy, organizational behaviour and human resource management and economics.
The programme lays great emphasis on knowledge assimilation. Summer projects are designed to provide students an opportunity to put their learning into practice. Final placement process for the graduating batch takes place in March.
IIMs students have enjoyed excellent placement record over the years. Leading Indian and foreign companies visit IIMs to participate in the campus placement programme. For more details visit www.iimk.ac.in.
Other prominent institutes
Some of the top B-schools in the private sector in the country include Xavier Labour Relations Institute (XLRI) Jamshedpur; SP Jain Institute of Management Mumbai; Xavier Institute of Management Bhubaneswar; Narsee Monjee Institute of Management Studies (NMIMS University) Mumbai; Symbiosis Institute of Management Pune; Management Development Institute (MDI) Gurgoan and K.J. Somaiyya Institute of Management, Mumbai.
In the south, the top institutes include Bharathidasan Institute of Management (BIM), Tiruchirappalli and National Institute of Technology, Tiruchirappalli, which offer two-year fulltime MBA programmes to meritorious graduates.
Faculty of Management Studies (FMS) under the University of Delhi is another reputed centre which offers two-year fulltime MBA programmes. Graduates in arts, commerce or social sciences (with at least 50 per cent marks); science (at least 55 per cent marks); mathematics or statistics (at least 60 per cent marks) and medicine, engineering or technology (at least 60 per cent marks) are eligible for admission. Selection is based on entrance test and interview. Total seats-MBA–144, MBA(MS)–64. For more details log on to www.fms.edu
The XLRI Jamshedpur ( www.xlri.edu) offers two-year postgraduate programmes in business management, personnel management and industrial relations for meritorious graduates in any discipline. Selection is based on XAT Score, group discussion and interview.
Xavier Institute of Management, Bhubhaneswar ( www.ximb.ac.in), conducts a two-year fulltime postgraduate diploma course in management for graduates in any discipline. Selection is based on XAT Score, group discussion and interview.
NMIMS University’s School of Business Management offers MBA. Selection is based on NMAT score, group discussion and interview ( www.nmims.edu).
K.J. Somaiya Institute of Management Studies and Research, Mumbai (http://simsr.somaiya.edu), offers PG diploma in management. Selection is based on IIM-CAT score, group discussion and interview.
Students should carefully choose institutions for higher study. Affiliation to a recognized university and the approval of the All India Council for Technical Education (AICTE) should be ensured.
At IITs
The Indian Institutes of Technology (IITs) are also among the premier institutes that offer management education of good quality. S.J. Mehta School of Management of IIT Bombay and Vinod Gupta School of Management of IIT Kharagpur are also top B-schools. S.J. Mehta School of Management, IIT Bombay, offers a Master of Management (M.Mgt) course. First class B.E. or B.Tech. holders or M.Sc. holders with at least 60 per cent marks are eligible for admission. Candidates belonging to the scheduled castes and scheduled tribes require at least 55 per cent marks. Work experience is desirable but not mandatory.
Vinod Gupta School of Management offers an MBA programme. First class B.E. or B.Tech. holders in any branch; first-class Master’s degree holders in science (should have studied mathematics or statistics at the Bachelor’s degree level) or first-class Master’s degree holders in economics or commerce (should have studied mathematics or statistics at the Bachelor’s degree level) are eligible for admission. Post qualification work experience in an industrial organisation will be given due weightage.
The Department of Management studies, IIT Delhi, offers Master of Business Administration (MBA) with focus on management systems and telecommunication systems management. Bachelors’ degree holders in any branch of engineering or technology with 60 per cent marks are also eligible for admission.
Department of Management studies at IIT Madras offers an MBA programme. First class B.E. or B.Tech. holders in any branch or first class Master’s degree holders in any discipline are eligible for admission. Department of Management Studies at IIT Roorke offers MBA programme.
Selection to all the above management programmes at IIT, are based on the performance in the Joint Management Entrance Test (JMET) conducted by IITs. Those who qualify JMET will be shortlisted for group discussion and interview. JMET is only a qualifying examination. One should apply separately to the institute of their choice.
Some other reputed management, intuitions including the National Institute of Technology (NIT) Calicut also base their admissions on JMET ranking. All the MBA or PG programmes in management offered by IITs are two-year fulltime courses and there is no limit to the number of programmes that a candidate can apply for.
MFC
The Master of Finance and Control (MFC) programme is aimed to equip a select group of students with conceptual and analytical skills for financial decision-making. The students are provided with inputs in the basic areas of managerial decision-making such as organisational behaviour, managerial economics, quantitative techniques, financial accounting and corporate laws as well as in different areas of finance such as financial management, financial services, international finance, international accounting, investment management and so on. To keep students abreast with the latest developments in the field of finance, Department of Financial Studies of the University of Delhi South Campus, New Delhi, which is one of the premier centre offering MFC has updated its curriculum and included new courses such as derivatives and risk management, treasury management, real estate investment management, insurance management, mutual funds management and equity research.
The Delhi University offers students a two-year course with a fine blend of theoretical and practical inputs to take on challenging careers in the field of corporate finance, international finance, merchant banking, capital and money markets, portfolio management, investment advisory services, credit rating, venture capital, Forex Advisory Services and so on. Graduates in any discipline with at least 50 per cent marks are eligible for admission to MFC. Selection is based on a national-level admission test and interview. Detailed information can be obtained from the web site www.mfc.edu.
Madura Kamaraj University, Palkalai Nagar, Madurai–625021;Punjabi University, Patiala-147002; Punjab University, Chandigrah–160014, University of Lucknow, Lucknow–226007; Kurukshetra University, Kurukshetra-136119, Haryana; Himachal Pradesh University, Summer Hills, Shimla–171005; Aligarh Muslim University, Aligarh–202002 are some of the universities that offer MFC courses in India.
GOPAKUMAR KARAKONAM
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