Is MBA in finance difficult?

A game for everyone: Despite the common misconception that Finance is difficult and that only commerce students or students with a finance background excel in finance subjects, non-finance students, including engineers, excel in finance subjects and go on to work in core finance roles.

If we look at the batch profile (of any MBA campus in India), we can see that engineers make up more than 60% of the class. As a result, the claim that Finance is not a field for engineers is untrue.

Not all is accounting: Though most B School students are required to do this subject in term 1, accounting is only a small portion of financial management, and you may never have to do it in your whole career. However, fundamental understanding is always beneficial, and financial management is more about combining your managerial talents with numbers in accounting to get significant results. Let’s look at an example to help you understand: You will be asked to prepare a Balance Sheet, Profit, and Loss Statement, or Cash Flow Statement in an accounting course. You must analyze that in Finance. You will not be asked to draught those statements (because they will be created by the company you are studying). Will anyone require you to prepare financial accounts if you are assessing Infosys? No! Financial statements will be available to you; all you have to do now is interpret them, which is what Finance is all about.

Certifications are not mandatory: It may be beneficial, but it is not required to have the same. Most interviews will revolve around topics and how well you understand them. It may also be used to evaluate the application and the level of interest. CFA/FRM can assist a little, but you’re entirely mistaken if you think it’ll get you a career in Finance.

To clarify, any course will help you demonstrate your interest in Finance to someone, but it is not your ticket to the job. In an interview, you must still present yourself.

Stay updated with Financial News: The interviewer expects you to have some fundamental knowledge of the financial world, whether it’s about economic policy, the stock market, or any other big decision relating to crypto. Make it a habit to set aside 30 minutes each day for news and 30 minutes for Investopedia to learn new terms.

By the way, we recommend that any applicant learns about 2-3 industries, and inside each industry, you should know everything (nearly everything) about 2-3 mentioned entities. Moreover, the sectors can be of any type (not necessarily difficult). For example, if you’re reading about India’s two-wheeler market, you’ll need to know at least about Bajaj Auto and Hero MotoCrop (along with every other potential number).

Profile Curation: If you come from a non-finance background, having something that will lead you to shortlists becomes critical. Begin by enrolling in relevant courses that will grant you certifications and provide you with valuable hands-on experience through Live Projects. Participate in an appropriate competition, such as the CFA RC. Try to find part-time work or internships to supplement your income (apart from the mandatory one)

Networking: It’s usually beneficial to have a senior or someone who has worked in the field for a few years in your network. It aids in determining the appropriate skill set required, how we may progress daily, and how the market is currently behaving.

When speaking with seniors (or someone in the industry), inquire about their day, possibilities for improvement, and learning ability.

Peer group: It’s always beneficial to have a group that can take an idea or recommendation and peer-review it. It could be a financial model or a discussion of how a particular action affects the economy or industry. Case studies are crucial; therefore, they should always be examined.