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|
|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|
This Blog Includes:
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.
- 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.
- Salary and benefits: This industry provides high-paying job profiles. Professional banking course graduates are in high demand as experts.
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|
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|
|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|
|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|
After earning your M.com, you can enrol in a variety of short-term courses, including computer diploma programmes, GST and FOREX courses, technician CA programmes, etc.
It is one of the most popular courses among commerce students that offer lucrative salaries and amazing opportunities in a variety of sectors.
No, it is not compulsory. The minimal educational requirement for a probationary officer role of clerk in public sector banks is graduation in any discipline from a university recognised by the government.
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