MCom in Banking and Finance

Courses in finance and banking are regarded as some of the more challenging subjects since they call for a great deal of mathematical knowledge, particularly when it comes to using equations and statistics to comprehend financial data. An MCom in Banking and Finance not only helps people manage their personal finances but also opens up excellent job prospects. It teaches students where to put their savings and investments to get the best returns and a stable future. Continue reading if you have a strong interest in financial data and calculations, wish to benefit from the numerous advantages, and want to learn more about what it all entails.

Name of the Course	MCom in Banking and Finance
Course Level	Masters
Duration of the Course	2 Years
Eligibility Criteria	B.Com with minimum 50%
Average Course Fee	INR 3-5 Lakh (India)INR 12-45 Lakh (Abroad)
Average Annual Salary	INR 5-9 Lakh
Job Profile	Business Analyst, Credit Manager, Financial Manager
Top Recruiters	ICICI Bank, HDFC Bank, PWC, E&Y, Citi Bank

Why Study MCom in Banking and Finance?

A master’s degree programme called MCom in Banking and Finance is entirely dedicated to the systematic study of every idea that falls under the umbrella of banking and finances. In addition to giving students a strong foundation in banking and money, it also gets them ready to handle their personal finances as wisely as possible. It offers many career opportunities and opens doors to employment in various industries, including banking, consulting, insurance, broking, and fund management.

Let’s look at other interesting reasons to study MCom in banking and finance.

1. Multiple Careers Option: A career in the banking and financial sector provides endless opportunities for the candidate. The student will be qualified to work for businesses, in the financial markets, or for the government. This programme offers training and development for professionals.
2. Salary and benefits: This industry provides high-paying job profiles. Professional banking course graduates are in high demand as experts.

Skills Required

MCom in Banking and Finance course will not only give a solid foundation on the basics of understanding and managing personal finances. Students must possess strong communication skills, analytical abilities, the ability to understand and memorize facts and figures, logical reasoning and definitely, an interest in the banking sector. 

MCom Banking and Finance Syllabus

Let’s look at the syllabus break-up of the MCom in Banking and Finance course:

First Year	Second Year
Commercial Bank Management	Commercial Bank Management
Banking Law and Practices	Financial Markets
Legal Framework of Banking	Accounting of Banking Sector
Investment Management Analysis	Treasury Management
Financial Risk Management	Debt Market
Cooperative Banking System	International Finance
Accounting and Auditing of Banking	Financial Services
Financial Services	Auditing of Banking sector
	Currency Derivatives

Eligibility Criteria

Let’s now look at the eligibility criteria for MCom in Banking and Finance:

• B.Com or Undergraduate program in Economics, Finance or Management.
• Minimum 50% aggregate marks 
• English Language proficiency test scores (IELTS, TOEFL or PTE) if you have a dream of pursuing higher education at universities abroad. 
• A candidate’s score on the Bachelor’s degree with a commerce track may be taken into consideration by some institutions for merit-based admission. On the other hand, some universities do simply take admission exam scores into account.

Difference Between MCom Banking and Finance and MBA Finance

After finishing their undergraduate degree, many students struggle to pick between an MBA or MCom. Let’s examine the fundamental distinction between them.

Criterion	MCom in Banking and Finance	Master of Business Administration
Degree	Master in Commerce	MBA
Stream	Commerce	Management
Education Level	Postgraduate	Postgraduate
Admission Procedure	Merit-Based OR Entrance Based	Entrance Based
Eligibility	Bachelor’s degree with commerce stream	Graduation in any stream

MCom Banking and Finance Colleges in India

Let’s look into some of the popular options available in India for pursuing an MCom in Banking and Finance.

Name of the College	State
Sri Ram College of Commerce(SRCC)	New Delhi
Christ University	Bangalore
Madras Christian College	Chennai
Narsee Monji College of Commerce and Economics	Mumbai
Amity College of Commerce and Finance	Noida
Stella Maris College	Chennai

MCom Banking and Finance Top Colleges Abroad

Name of the College	Country	QS World Ranking 2023	Approximate Annual Fee
Imperial College London	UK	6	INR 36.28 Lakh
University of Oxford	UK	4	INR 48.89 Lakh
University of Southern Queensland	Australia	–	INR 12.80 Lakh
University of Wollongong	Australia	85	INR 12.05 Lakh
Rensselaer Polytechnic Institute	USA	500-600	INR 41.30 Lakh
Ryerson University	Canada	801-1000	INR 13.25 Lakh

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Career Prospects and Job Profile

Among commerce students, the MCom in Banking and Finance is one of the most sought-after courses. Students are given training in the banking industry as well as practical skills for everyday banking tasks in this course. The M.Com. in Banking and Finance has several possible advantages. 

After completing MCom in Banking and Finance, students can also choose to pursue PhD in Finance or banking or they can write entrance exams like UGC-NET or JRF if they wish to make a career in teaching. In banking, there are numerous career opportunities, including those for corporate analysts, sales officers, financial advisers, etc. Numerous excellent recruiters are always searching to employ a talented pool of candidates. ICICI Bank, HDFC Bank, KPMG, and Deloitte are some of the well-known recruiters in this field. Let’s take a look at some of the popular job titles and associated salaries.

Job Profile	Average Annual Salary
Financial Analyst	INR 6-8 Lakh
Market Analyst	INR 6-7 Lakh
Stock Analyst	INR 7-8 Lakh
Loan Counsellor	INR 5-6 Lakh

FAQs

Students are undoubtedly drawn to this well-known industry by the variety of career opportunities and attractive compensation packages. However, finding a dream university requires careful planning and extensive research. To expedite your application process and discover more about study abroad, get in touch with our team of professionals at Leverage Edu