Financial Management Admission 2023: Eligibility, How to Apply, Career, Job, Top Colleges

In today’s world of globalization, financial management has emerged as one of the most prominent career options. This branch of management deals with managing the finance of a company in order to achieve its goal. There are many courses after 12th and graduation available in the field of Financial Management. However, courses after graduation are popular than courses after class 12th. In this post, we are going to discuss all the necessary details related to Financial Management admission 2023.

Introduction to Financial Management

Financial Management is one of the significant courses in the management field. Principally, this course deals with topics such as Marketing and business management, monitoring and controlling the financial part of an organization, stock market and analysis, corporate reporting, preparing the expenditure list of needed, etc.

Nowadays, a lot of firms prefer graduates with a degree in financial management including banks and other financial firms. Core business organizations and IT-based firms are hiring candidates who have specializations in financial management.

The financial management discipline was there since the beginning of 19th century. In inception times, it was the part of Economics. When researchers find there is a necessity to find skilled ones for maintaining the financial assets of an organization, they segregated ‘Financial Management’ portion from the economics and by the end of 20th century, it got affiliation to study it as an individual subject. In India, a candidate who specializes in financial management will be hired as a financial manager.

Financial Management Courses overview

The basic overview of the course can be understood by the table given below.

  Eligibility Criteria for Financial Management 

• The eligibility criteria to get admission into a Financial Management course need graduation in any discipline with 50% marks. It is also necessary for candidates to have a valid score in the GMAT /CMAT exam (Graduate Management Admission Test/ Combined Management Admission Test). There are some universities that didn’t follow the GMAT/ CMAT national level exam for admissions. Instead, they conduct their own entrance exam for admissions.

Common Entrance exams for Financial Management Admission

The details about the common Management Entrance Exams to be conducted in order to shortlist the candidates for admission to Financial Management Courses are as follows.

GMAT (Graduate Management Admission Test): It is an online computer-based test conducted by the GMAC (Graduate Management Admission Council). It is the most popular entrance exam for admission to MS outside India and MBA courses in India. A candidate is allowed to take this exam 5 times in a calendar year.

CMAT: CMAT is conducted by the National Testing Agency (NTA). It is a national level entrance exam for admission into Management programs including financial management. The duration of this examination is 3 hours. Questions are asked from subjects like Quantitative Technique, Logical Reasoning, Language Comprehension, and General Awareness. This exam is also conducted online i.e. in computer-based test mode.

CAT:  CAT stands for the common aptitude test. This examination is a gateway for admission into 20 IIIMs and around 1200 B-school across India. In this exam, candidates have to answer both objective type and subjective type of questions from the following subjects – Verbal Ability & Reading Comprehension (VARC), Data Interpretation & Logical Reasoning (DILR), and Quantitative Ability (QA). Lakhs of candidates appear for this exam every year. It is expected that the application process for CAT 2023 will start in the month of August 2023.

Career in Financial Management

A financial management specialist service is needed in every industry. According to the reports from the U.S. Bureau of Labor Statistics (BLS), the financial managers’ Job growth is found to be increasing rapidly over the years. A candidate who specializes in Financial Management can perform the following positions in an organization-

• Financial Analyst
• Budgeting and forecasting the financial performance
• Chief Manager of an organization
• Finance Controller or director
• Commercial or Investment Banker
• Financial planner and performance manager
• Pay – Scale of a Financial Manager

Pay Scale of a Financial Manager

Pay-scale, an independent organization made for reporting the employees’ salaries in various sectors has reported that basic level financial analysis managers earn an annual income of $81,250.  However, just like all other sectors, in this sector as well, the salary of a Financial Manager is depended on the skills, type of company, and the job position.

Related: Courses after 12th

Top Recruiters in India Hiring Financial Management Specialist

Here is the list of Top Recruiters in India that hire Financial Management Specialists-

• LG India
• Boston Consulting Group
• Merrill Lynch
• Barclays
• Deutsche Bank
• Goldman Sachs
• Sony India
• Lehman Brothers
• JP Morgan
• McKinsey

Best institutes to pursue Financial management courses in India 

Some of the top institutes offering Financial Management courses in India are as follows.

• National Institute of Technology (NIT), Tiruchirappalli
• Tezpur University, Assam
• Center for Management Studies(CMS), Ganpat University, Mehsana
• Indian Institute of Finance (IIF), Greater Noida
• Guru Gobind Singh Indraprastha University (IPU), New Delhi
• International School of Business and Media (ISBM), Pune
• Indian Institute of Foreign Trade (IIFT), New Delhi
• Amrita School of Business, Coimbatore
• NARSEE Monjee Institute of Management Studies (NMIMS), Mumbai
• KJ Somaiya Institute of Management Studies and Research, Mumbai
• Symbiosis Institute of Business Management(SIBM), Bengaluru
• Christ Universtiy, Bangalore
• Banaras Hindu University (BHU), Banaras
• Sydenham Institute of Management Studies and Research and Entrepreneurship Education (SIMSREE), Mumbai
• Galgotia University, Greater Noida
• Prin. Ln Welingkar Institute of Management Development and Research, Mumbai
• MIT School of Business (MITSOB), Pune
• Lovely Professional University (LPU), Jalandhar
• Institute of Management Technology (IMT), Ghaziabad

Frequently Asked Questions

Question – 1: Are there diploma courses available in Financial Management after graduation?

Answer: Yes, you can opt for a PG diploma in Finance after graduation.

Question – 2: What are the job prospects after an MBA in Financial Management?

Answer: The job prospectus after an MBA in financial management is quite good. A candidate can opt for a job in various MNCs in India and abroad. Please note that Financial Managers are one of the highest-paid professionals.

Question – 3: Can you name some of the top institutes for Financial Management in Delhi?

Answer: Those who are looking for some good colleges for financial management in Delhi can check out the list below.

• Shri Ram College of Commerce (University of Delhi)
• International Management Centre (IMC)
• Amity Business School
• Apar India Institutes of Management & Technology
• Apeejay School of Management
• Asia-Pacific Institute of Management
• Ascent Institute of Management
• Asian Institute of Management Studies
• Delhi Business School
• Delhi School of Economics
• Guru Gobind Singh Indraprastha University
• Infinity Business School
• Jagan Institute of Management Studies
• Jamia Millia Islamia
• Maharaja Agrasen Institute of Technology
• Shaheed Sukhdev College of Business Studies (University of Delhi)

Question – 4: Is it possible to get admission into the Financial Management course without an entrance exam? 

Answer: Most of the institutes offer admission based on the entrance exam. Still, there are a few colleges that offer admission on the basis of qualifying examination merit as well.