MBA in Banking and Insurance

Banking and Insurance is an exciting specialization of the MBA program. The 1 to 2-year banking course covers the fundamental management concepts with specialised training in topics such as international banking and Insurance, risk management, treasury operations, project and infrastructure, and investment banking. Overall it's a complete package that will prepare you for jobs as managers or banking professionals.

MBA in Banking and Insurance: Course Highlights

Based on the information we have on MBA in Banking and insurance, here are the key highlights of the program. We hope you find it helpful to finalise your decision on whether you wish to pursue this qualification or not.

Program

Postgraduate

Course

MBA in Banking and Insurance

Duration of the Course

1 year (based on top 3 universities)

Eligibility Criteria

{High school (10 + 2 equivelant), 60% recommended}, bachelor’s degree (preferably in business such as BBA),  {IELTS, PTE, or TOEFL (IELTS 6.5 or equivalent recommended)}, and entrance exams such as GMAT or GRE

Entrance Exams

{IELTS, PTE, or TOEFL (IELTS 6.5 or equivalent recommended), and GMAT or GRE 

Tuition Fees

Between 1021283 and 5404790 INR (based on top 3 universities)

Jobs 

Investment Banker, Insurance Manager, Credit and Risk Manager, etc.

Average Salary

720000 INR (based on 5 jobs)

What is an MBA in Banking and Insurance?

Banking and Insurance is one of the specialisations in the popular degree program abroad, which is Master of Business Administration. The qualification prepares skilled candidates for insurance and finance experts and managers for banks and companies.

MBA in Banking and Insurance: Universities

Many internationally reputed colleges and universities abroad offer an MBA in Banking and Insurance. From that long list, we have narrowed down the top 3 colleges for you in the UK, The USA, and Germany.

S.NO

College Name 

Country

QS World Rankings 

1

The University of Pennsylvania

The USA

NA

2

Bangor University

The UK

Between 601 and 650

3

Universität Leipzig (Leipzig University)

Germany

420

MBA in Banking and Insurance: Subjects

During your MBA in Banking and Insurance, you will study various subjects that will equip you with the skills to work in banks as managers and related professionals. Knowing your syllabus will help you better decide if the program is for you or not.

  • Principles and Practices of Management.
  • Communication Management.
  • Accounting for Managers.
  • Principles & Practices of Banking.
  • Economics for Managers.
  • Financial Management.
  • Insurance Management.
  • Insurance Product.
  • Marketing Management.
  • Marketing Information System.
  • Banking & Insurance Management.
  • Merchant Banking & Financial Services.
  • Statistic for Management.
  • Organizational Behavior.
  • Team Management.
  • Strategic Credit Management.
  • Legal Aspect of Banking.
  • Treasury & Risk Management.
  • Resource Mobilization and Marketing of Banking Services.
  • Counter Operations, Savings Bank, Current Account, and Remittances.
  • Retail Insurance Management or Advance Technology in Banking.
  • Fundamentals of Infrastructure Project Financing.
  • Corporate Insurance Management.
  • Mutual Funds and Portfolio Management.

Cost of Studying MBA in Banking and Insurance

Based on the information below, your cost of studying for an MBA in Banking and Insurance looks expensive. Fortunately, the Return on Investment you get in the form of lucrative salaries helps your recover these amounts, which fall around 60,00,000 INR.

S.NO 

University Name 

Course 

Duration 

Tuition Fees in INR

1

The University of Pennsylvania

MBA in International Banking 

NA

54,04,790

2

Bangor University

MBA in Banking and Finance

1 year

14,95,101

3

Universität Leipzig (Leipzig University)

MBA in Financial Matters

NA

10,21,283

Eligibility Criteria for MBA in Banking and Insurance

The eligibility for an MBA in Banking and Insurance abroad, a postgraduate degree, will be more complex. Although the minimum benchmarks vary from country to country and from one institution to another, the general guidelines are as follows.

  • We recommend having at least 60% in your bachelor's degree, preferably in a business-related area with banking and Insurance as majors such as BBA.
  • You are also required to score your maximum on GMAT or GRE, compulsory for MBA overseas.
  • International applicants must also submit their English language proficiency exam scores unless they are from an English-native nation. Minimum scores such as IELTS 6.5 or equivalent will do. 

Exams Required for MBA in Banking and Insurance

The competition to get an MBA in Banking and Insurance or any MBA abroad is challenging. Students have to go through various examinations to get enrolled. Below we have given the minimum marks required for GMAT and IELTS for the leading universities we have discussed. However, we recommend scoring as much as possible to increase your chances of getting selected.

Name of the University 

Exam Name

Minimum Band Requirement

The University of Pennsylvania

PTE, GMAT

NA

Bangor University

IELTS, GMAT

7.0 (no band less than 6.5), NA

Universität Leipzig (Leipzig University)

IELTS, GMAT

6.0, NA

Scholarships to Study MBA in Banking and Insurance

Many overseas students face a lack of finances for higher education while studying for an MBA in Banking and Insurance abroad. Fortunately, many government-funded, company-funded, and university or college-funded scholarships are available to aid these candidates.

S.NO

Scholarship Name

Description 

Eligibility 

Amount in INR

1

Graduate Grants and Scholarships

The University of Pennsylvania makes these scholarships available

NA

Institutional grant funding, federal or private loans, and work-study funding (some programs) 

2

International Scholarship 

The Bangor University in the UK offers this award

NA

maximum 243600

3

SBW Berlin Scholarship

The SBW Berlin gGmbH presents this scholarship and is often awarded by the Universität Leipzig (Leipzig University). 

NA

Up to 44765 monthly

Scope After MBA in Banking and Insurance

Banks and companies worldwide hire MBA in Banking and Insurance graduates for various lucrative salaried positions. Although anyone with finance and management skills can apply in banks, MBA graduates in this area have a competitive edge.

Job Profile

Salary in INR

Investment Banker

Between 9,00,000 and 10,00,000

Insurance Manager

Between 7,00,000 and 8,00,000

Credit and Risk Manager

Between 9,00,000 and 10,00,000

Financial Advisor

Between 4,00,000 and 5,00,000

Loan Counselor  

Between 2,00,000 and 3,00,000

How to Study for a MBA in Banking and Insurance?

Regardless of your specialisation, the application procedure for MBA is the same worldwide, MBA in Banking and Insurance included. However, if you wish to remember any steps, here's the process.

Step 1: Research and shortlist a nation and university for your desired MBA course (in our case, the MBA in Banking and Insurance.

Step 2: Find out and meet the eligibility criteria for your chosen university and course. Official sources include university or college's official pages, alums, and an expert study abroad consultant.

Step 3: This phase is a 2 part process. Read below.

  • Gather the required documents (see list in step 4).
  • Get the documents attested from your local government.

Step 4: On the official page of your desired MBA course, fill out an application form and attach the credentials you gathered in the previous step. Here's a list for your reference.

  • Proof of funds.
  • At least 2-3 LORs.
  • Your SOP.
  • Your evidence of English language proficiency (IELTS, PTE, TOEFL, or equivalent scores).
  • Your academic transcripts.
  • A copy of your valid passport.
  • GMAT scores for MBA, some universities may ask for GRE instead.
  • Your graduate degree or equivalent qualification.

Step 5: Pay a non-refundable application fee.

Step 6: Wait for the decision on your application. We request you not to apply for a visa in excitement before your receive a confirmation of acceptance, as a visa application is costly. Meanwhile, you can master your chosen subcontinent's official language.

Step 7: Done.

Want to enrol in one of the leading universities abroad for an MBA in Banking and Insurance? AECC Global India is here for you. Our study abroad expert will ensure that you easily get into your desired university overseas. Thank you for reading.


Print

Related Posts

Image

Let's get social.

Study Destinations

Popular Courses

4
Enquire NowTalk to UsAECC SearchWhatsApp Us