Master of Business Administration (MBA) in Banking & Insurance Eligibility, Top Colleges, Syllabus, Duration, Salary

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Sakshi Gupta

Content Curator | Updated on - Sep 17, 2021

MBA in Banking & Insurance is a 2-year postgraduate Banking and Insurance course, the minimum eligibility is Graduation from a recognized college or its equivalent exam. Admission to this course depends on the student’s performance in a relevant entrance test and the consequent round of counselling.

Few of the entrance exams that are led for admission into top colleges and universities include:

Some of the top colleges and institutes which provide admission to (MBA) in Banking & Insurance are as follows:

The average tuition fee charged for the course in India ranges between INR 10,000 to 10 lacs, for a span of 2 years.

MBA in Banking and Insurance is a postgraduate Banking program. The degree course is the study of fundamentals as well as concepts in the banking and Insurance. MBA in Banking & Insurance degree program covers the study of the fundamental concepts of management with specialised training in subjects for example International Banking and Insurance, Risk Management, Treasury Operations, Project & Infrastructure, Investment Banking, etc. The full two-year degree program consists of four semesters in which the first two semesters are important to all the M.B.A. courses and the last two focus and focus on the specialised subjects related to the area of Banking and Insurance.

This field is full of career opportunities with secure future. Various banks and multinational organizations provide facilities to their employees. Students opt this field are well paid and have a bright career. Needs of experts are expanding every day as new and propelled technologies are being introduced. After the successful completion of this course, there will be a multitude of banking job opportunities at your disposal. There are numerous nationalised as well as private banks which offer ample career employment in the banking sector. Usually, these banks hire thousands of candidates every year.

Such graduates are hired in capacities such as Financial Analyst, Credit & Risk Manager, Marketing & Sales Manager, Loan Counsellor and Sales Officer, Credit Analyst, Investment Banker, Account and Auditor, Stock Analyst, Asset Manager, Agent & Broker, Insurance Manager, Operations Manager, Marketing and Sales Manager, Financial Manager, Management Analyst, Accountants and Auditor, Credit Analyst, Financial Analyst, Personal Financial Advisor, Loan Counsellor etc. The average annual salary offered to such professionals ranges between INR 3 to 20 Lacs, increasing with students’ experience and expertise.

MBA in Banking and Insurance: Course Highlights

Given below are some of the main highlights of the course:

Course Level Post Graduate
Duration of the Course 2 years
Examination Type Semester and Annual
Eligibility Graduation
Admission Process Entrance exam and Merit Based
Average Course Fee INR 10,000 to 10 Lacs
Average Starting Salary INR 3 to 20 Lacs
Top Recruiting Companies ICICI Bank, HDFC Bank, General Insurance Corporation (GIC), ICICI Prudential, Life Insurance, Tata AIF Life, Reliance, Birla Sun-Life, Max New York Life, HDFC Standard Life- Insurance Co., SBI, Life Insurance, Life Insurance Corporation of India, HSBC Bank, Yes Bank, Kotak Mahindra, Axis Bank, IDFC bank etc.
Top Job Areas Colleges & Universities, Banks, IT Companies, Multinational Organizations, Insurance Departments, Media Houses etc.
Top Job Positions Financial Analyst, Credit & Risk Manager, Marketing & Sales Manager, Loan Counsellor and Sales Officer, Credit Analyst, Investment Banker, Account and Auditor, Stock Analyst, Asset Manager, Agent & Broker, Insurance Manager, Operations Manager, Marketing and Sales Manager, Financial Manager, Management Analyst, Accountants and Auditor, Credit Analyst, Financial Analyst, Personal Financial Advisor, Loan Counsellor etc.

MBA in Banking and Insurance: What is it all about?

The master’s degree program in Banking and Insurance Management is a dedicated business studies field and is a dual master’s degree which provides technical, expert as well as practical knowledge of banking and insurance along with the combinational management subjects for business as well. MBA in Banking and Insurance course is first of its kind in North-India and is planned at developing world-class banking and insurance sector capabilities.

The applicants are groomed both in theoretical and practical aspects of domestic and international banking as well as in the domain of the booming insurance sector. The programme prepares the applicants to apply their all-around knowledge-based learning to the financial world at large, for example, wealth management, portfolio management, investment banking, financial and business consulting, risk management, financial and investment research, and general and life insurance services.

MBA in Banking and Insurance Management is a method for assurance of financial loss. MBA in Banking and Insurance Management provides applicants with a basic knowledge of the Banking and insurance markets. Degree courses are designed to develop efficient and updated financial and insurance planners. It helps to provide applicants with a basic understanding of the financial and insurance markets.

This program is suitable for those candidates who have skills like hard work, sincerity, and confidence, able to persuade others as well as a commitment for service towards the customers decides the growth of a person in the insurance sector. Applicants must be self-confident, outgoing, helpful, social and should be able to communicate with people at varied levels. Other major skills are curious, decisive, and perceptive, possess the ability to work carefully, flexibility, diplomacy, communication skill, ability to work outside the office for a large amount of time are the qualities required for surveyors.

MBA in Banking and Insurance: Top Institutes 

Given below are some of the top institutes in India that offer the course:

NAME OF INSTITUTE CITY AVERAGE ANNUAL FEES
International Management Institute New Delhi INR 7,71,000
Institute of Financial Management and Research Chittoor INR 6,00,000
ICFAI Business School Hyderabad INR 6,25,000
International School of Business and Research Bangalore INR 4,00,000
Institute of Public Enterprise Hyderabad INR 4,08,000
Pondicherry University Pondicherry INR 37,200
GIBS Business School Bangalore INR 2,75,000
Sri Balaji Society, Balaji Institute of Modern Management Pune INR 3,30,000
SCMS Cochin School of Business Cochin INR 3,76,000
AIMS Institute of Management Studies Pune INR 1,49,000
Siva Sivani Institute of Management Secunderabad INR 2,75,000
Birla Institute of Technology Ranchi INR 2,27,000

Eligibility for (MBA) Banking & Insurance

A bachelor`s degree in any discipline is required for pursuing an MBA degree in Banking & Insurance. Some reputed colleges and universities conduct a common entrance test (GMAT, CAT, XAT, MAT, SNAP, etc) for admission into its management programs.

The common entrance exams include various papers such as General English, Data Analysis and Interpretations, Problem Solving, Numerical Ability, Logical Reasoning, Quantitative Aptitude and General Awareness.

MBA in Banking and Insurance: Admission Process

For Admission to Banking & Insurance degree, students will have to appear in any one or more of the nationally conducted entrance exams. On the basis of performance in the entrance test, Group Discussion and Personal Interview, management Institutes prepare a shortlist of students for admission. Some weight is also given to marks scored in Higher Secondary and Graduation level examination.

Below are the few entrance tests that are conducted by some of the MBA in Banking and Insurance colleges in India:

MBA in Banking and Insurance: Syllabus and Course Description

A semester-wise breakup of the course syllabus is tabulated below.

Semester I Semester II
Principles and Practices of Management Insurance Management
Communication Management Insurance Product
Accounting for Managers Marketing Management
Principles & Practices of Banking Marketing Information System
Economics for Managers Banking & Insurance Management
Financial Management Merchant Banking & Financial Services
Semester III Semester IV
Statistic for Management Resource mobilization and marketing of banking services
Organizational Behaviour Counter operations, savings bank, current account and remittances
Team management Retail Insurance management (housing, vehicle, consumer and personal loans, etc); OR advance technology in banking (ATM, Internet banking, etc)
Strategic Credit management Fundamentals of infrastructure project financing
Legal Aspect of Banking Corporate Insurance management
Treasury & Risk Management Mutual funds and portfolio management

MBA in Banking and Insurance: Career Prospects

Usually, graduates with knowledge in both finance and management are employed by banks for various posts based on All India Examination. Although finance and management graduates may have an edge over other aspirants, any applicants from any stream are eligible to enter this field by qualifying the entrance exams which are being conducted by banks every year. At senior level banks opt for experienced bankers.

Generally, banks look for those students who have good communication skills and have the ability to handle customers and possess basic knowledge about the industry. One needs to specialize in certain specific areas such as credit appraisal, loan and foreign exchange to be eligible for joining an overseas bank or private sector bank at senior level positions.

Master of Business Administration (MBA) in Banking & Insurance annual salary
JOB POSITION JOB DESCRIPTION AVERAGE ANNUAL SALARY
Investment Banker Investment bankers are responsible to assume a role in helping their client’s raise funding to back various activities and develop their organizations. INR 9 to 10 Lacs
Insurance Manager An Insurance Manager is In responsible of managing operations within a protection rehearse. Oversees specialists, agents, and appraisers. INR 7 to 8 Lacs
Credit and Risk Manager Risk managers are responsible to exhort organization on any potential risk to the productivity and presence of the enterprises. They evaluate and distinguish threats, set up plans place for if things become bad and opt how to keep away from, decrease or transfer risks. INR 9 to 10 Lacs
Financial Advisor A Financial Advisor is responsible for providing help to clients for their long-term as well as short-term financial goals. INR 4 to 5 Lacs
Loan counsellor A Loan Counsellor is responsible for processes a customer’s application materials, checking the information and works with the customers to come up with a financial plan. INR 2 to 3 Lacs

Master of Business Administration [MBA] (Banking & Insurance) : 4 answered questions

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Ques. Which stream should my sister opt for in BIMTECH Noida for MBA international business or insurance?

● Top Answer By Aaditya Hari Nair on 17 Sept 21

Ans. First, you should ask her which steam is more of her interest, international business or insurance management. Both programs come with many benefits. So, help her figure out her interest and let her choose according to that.  BIMTECH, Greater Noida is one of the best colleges in the country for management. A PGDM in International Business (PGDM-IB) from BIMTECH will make her proficient in handling international affairs, conducting business across every boundary. She will learn new ways of doing business and more. When it’s about pursuing PGDM in Insurance Business Management (PGDM-IBM) she will learn insights on finance management, be capable enough to plan and control the financial resources of any industry, and will handle more of such responsibilities. BIMTECH offers good placement opportunities for all its programs. According to the recent placement highlights the average and highest CTC offered at the institute was 8 LPA and 16 LPA.  Considering these factors help her make the right choice.Read more
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Ques. I am selected in bimtech for pgdm-ibm. Should I go for it?

● Top Answer By Komal Chawla on 14 Sept 21

Ans. You should go for BIMTECH IBM (Insurance Business Management) program. It is well-known across India and one of the very few colleges in India offering a course in Insurance. The faculty is highly experienced and the program has a 100% placement rate. You will be placed first among all others on the campus as the majority of the recruiters are Insurance Firms. The average salary package offered for PGDM IBM at BIMTECH lies between the range of 6-7 LPA. Go for it if you are looking forward to a career in the Insurance industry. Read more
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Ques. How good is bimtech for PGDM in IBM?

● Top Answer By Debdeep Majumder on 01 Jul 21

Ans. You should join the course at IBM without any second thoughts. Try to do a bit more research about the PGDM course that you want to pursue. 117 companies offered placement opportunities to the students enrolled in the PGDM course at IBM. The institute also has witnessed involvement from international recruiters like RAK Ceramics, Landmark (Home Centre), and a few more who offered job roles and opportunities across Sales, Marketing, Retail, and Operations. Placements at BIMTECH have been seeing an improvement in the domestic package offered by 12.50% with the highest package offered to be INR 18 Lakhs per annum and international packages by 15% with the highest package offered to be INR 23.00 Lakhs per annum. In BIMTECH, you will get a good ROI and will surely be recruited by a good company before the course gets over.Read more
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Ques. How is the insurance business management from the BIMTECH Noida?

● Top Answer By Admin on 19 Apr 21

Ans. The Insurance Business Management (IBM) from BIMTECH Noida is a very high-demand course, especially for those who want to build their career in the financial and the banking sector. It is one of the 4 full-time PGDM courses offered by the institute apart from an executive PGDM course.  Talking about the institute, it has a rich legacy of 30 years of excellence in academics where the faculty are known to be really hardworking. They are very well qualified, many of them have lots of industrial exposure and they bring in their collective knowledge in the classroom studies. Some of the reasons why PGDM in Insurance Business Management from BIMTECH Noida will be beneficial for you are – There are various career paths one can take after doing this course. The students can work as a broker in banks, insurance companies or any financial institution for that matter. The institute is also very popular and is visited by many insurance and banking companies along with financial institutions. BIMTECH is also known for its collaborations with many international organizations, so there won’t be any dearth of opportunities here. You could also try yourself as a financial analyst after doing this course. This course will equip students with knowledge about financial markets, risk management along with the core banking and insurance subjects. Many of the graduates go on to work as consultants in the insurance and banking sector. Apart from that, with its rich academic and research-oriented pedagogy, the institute imparts the necessary skills and training to the students for becoming successful professionals. Thus, without a doubt, this is a very good course with a focused approach towards the sector. The institute, pedagogy, faculty, and facilities are all top-notch and it will help you propel your professional career.Read more
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Master of Business Administration [MBA] (Banking & Insurance) Fee Structure in India


25.70 K (Minimum Fee)PUBLIC COLLEGES1.34 L  (Maximum Fee)
64.42 K (Average Fee)
1 L (Minimum Fee)Private COLLEGES8.40 L (Maximum Fee)
2.89 L (Average Fee)

Master of Business Administration [MBA] (Banking & Insurance) Fee Structure By state


Delhi NCR

1.34 LPUBLIC COLLEGES1.34 L
1.34 L
1.57 LPrivate COLLEGES6.80 L
4.81 L

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Master of Business Administration [MBA] (Banking & Insurance) Colleges IN INDIA

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70 K first year fees
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DY Patil University
Navi Mumbai, Maharashtra
4.2 L first year fees
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Amity University
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Panjab University - [PU]
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