Master of Financial Management

Master of Financial Management, commonly abbreviated as MFM, is a two-year postgraduate course that is intended to equip students with practically everything related to accounting and financial management. Nowadays, financial risk assessment, technical financial analysis, and strategic business planning play a significantly larger role in financial management than they did in the past. It is almost certain that MFM will lead to high earnings and job security since it is one of those rare degrees that come with a high return on investment (ROI). 

To be eligible for Master of Financial Management courses, students must pass entrance exams like CAT, MAT, XAT, SNAP, etc. In India, many of these courses are delivered both offline and online/distance modes of education. Some of the top colleges offering these courses are Delhi University, St. Xavier's College, Loyola College, Narsee Monjee Institute of Management Studies, etc. On average, the course fee ranges from around INR 10 to 15 LPA. Graduates in this field earn decent starting salaries ranging between INR 3 to 24 lakhs annually. 

Here are the course highlights of Master of Financial Management:

Globalisation, liberalisation, and privatisation have led to a monumental growth of opportunities in the field of financial management. It is getting more popular day by day owing to its excellent career prospects and interesting upcoming trends like digitalisation, big data analytics, cybersecurity, etc. Therefore, the Master of Financial Management is one of the most sought-after, stable, secure and highest-paid jobs in the country. 

Today, several Indian businesses are forming joint ventures abroad, and more MNCs are visiting India. As a result, students studying Master of Financial Management have excellent employment prospects. India is a nation where financial management has started to expand steadily. The future of financial management is promising as more foreign businesses enter and invest in our marketplaces. Kudos to our IT sector, India is at the leading edge of designing analytics and financial management software for international businesses. Moreover, commercial enterprises all over the world recruit trained specialists to oversee their financial activities, advise them in resolving problems, discover solutions, and support business expansion. In other words, if a student decides to enroll in the MFM course, they are making the right choice for themselves in a field that yields a higher ROI.

In India, the eligibility criteria for a Master of Financial Management course differs from one college to another. It is important to meet all the eligibility criteria because failing any one of them would prevent a student from being accepted into the course. For this reason, applicants must make sure they meet all parameters before applying for admission to the MFM course. The following pointers represent a common Master of Financial Management eligibility criteria:

• It is required that students hold a bachelor’s degree (10+2+3) from a recognised Indian university in any discipline or field of study (preferably Accounting or Commerce).
• Applicants must sit for university-level or state-level exams like CAT, MAT, XAT, SNAP, etc.
• In some institutes, students may need a final graduation percentage of more than 40% to 55%. However, other institutes may not require a certain percentage for admission.
• Although not mandatory, several institutes also require students to have at least two years of managerial, administrative, or supervisory experience.

It must be noted that an entrance test credit of 5% may be awarded to candidates having relevant finance work experience.

In India, the admission process for Master of Financial Management courses varies from one college to another and it is mostly done on a merit basis or entrance exams test scores. Most of the top colleges offer admissions to MFM courses through entrance exams such as CAT, MAT, XAT, SNAP, etc. 

Applicants are shortlisted for admission based on their bachelor's degree scores for merit-based admission, while candidates for entrance-based admission are required to participate in the counselling process.

How to Apply?

Applications for the Master of Financial Management course are available both online through the university website and offline by contacting the admissions office. Additionally, several universities interview prospective students before admitting them to see if they have strong communication skills. Before admission, students must have all the required documents stated by their college or university, such as transcripts from their last academic year, proof of identification, etc.

What is the Selection Process?

In India, regardless of the specialisation, the selection process for the MFM courses offered is typically the same everywhere. The definitive selection of candidates is often made by colleges based on the candidates' entrance exam scores once their applications for the course are submitted.

The majority of master's programmes in Finance Management have entrance tests that are offered at the national, state, or university levels. While some colleges admit students based on their merits, the majority of colleges and universities admit them based on their entrance exam test scores. The following are a few popular exams required for admission to the Master of Financial Management course:

CAT: The IIMs conduct the Common Admission Test (CAT) every year across the country. This entrance test determines admission to various Finance-related management degree courses and diploma courses.

MAT: The AIMA conducts a Management Aptitude Test in India approximately four times each year. Students can take this exam for admission to Master of Financial Management courses.

XAT: For students seeking admission to various Finance-related management courses, the XLRI administers the nationwide entrance examination named Xavier Aptitude Test (XAT).

SNAP: For students who want to apply to various Management-related programmes in Finance, Symbiosis International University conducts a national-level entrance exam named SNAP or Symbiosis National Aptitude Test.

Year I

Year II

Master of Financial Management course trains candidates to excel in a business career in any part of the world. MFM programme assures that candidates have the advanced skill set required for financial management, making them job-ready both for the private and public sector.

With sufficient knowledge and professional experience, candidates can also become financial experts. Financial experts during their job make financial plans for individuals and plan the acquisition of other companies. Listed below are some popular job roles and employment areas for MFM postgraduates.

Salary After MFM

Depending upon the job profile and work experience, MFM candidates can earn the following packages.