MBA IN BANKING & INSURANCE
About MBA in Banking & Insurance
An MBA degree in Banking and Insurance gives a major impetus and boost to the careers of those individuals who want to stand out from the crowd.
Banking & Insurance is a vast sector that is ever-evolving and recession-proof. Opportunities in this sector can be considered as the most sought-after for graduates because they are well-paid, secured, and command a good status in society. Banking and Insurance experts are part of an increasingly innovative and dynamic field that attracts people from all walks of life.
Hence, there is an increasing demand for leaders who have the core skills cultivated from the insights of the past along with an agile mindset and digital savviness that allows them to pivot when necessary. The leader has to be flexible and willing to extend the organization’s capabilities into new and, sometimes unexpected, areas to keep ahead of relentless competition, thereby making himself and the organizational incumbent players ‘undisruptable’. The application of leadership and problem-solving skills relevant to the sector helps an individual stand out and command the C-suite roles.
For working professionals who are part of a different sector and want to switch to the banking and insurance sector, an MBA specialization will help put their career on the fast track, thereby upraising them to managerial roles directly due to their experience coupled with relevant industry knowledge gained during the course. For those who are already working in the banking and insurance sector, an MBA will help them move up the ladder faster than peers.
Why choose MBA in Banking & Insurance?
High Growth sector – The capital value of the global banking industry was identified as 7.3 Trillion Euros as of 2020 and has been experiencing a steady growth rate for the past two decades. According to a Swiss RE report, the global insurance premium market, in 2019, reached USD 6.3 trillion. While life products are predicted to grow at 8.5%, in non-life, double-digit growth is expected in 2021 and 2022.
Job security – Insurance and banking have been around for centuries and will stay as long as people continue to encourage savings, expect attractive interest rates, acquire credits, need medical care, drive cars, own homes, and run businesses. Particularly during a recession, insurance is more stable than other fields, that’s because no matter the economy, people and businesses always need protection from risks.
Transferrable skills & Global mobility – In the technologically driven world of banking and insurance the experience in one geography can be easily leveraged in another geography, hence professionals in this sector find fitment for jobs in other geographies and countries.
Hence, there is potential for you to be working in the financial center of another continent – from New York to Singapore, Hong Kong to Tokyo.
Salary trends – In Banking, the median salary is around $55,000 whereas the upper range is between $1,50,000 to $2,00,000. In Insurance, the median salary is around $ 51,000 whereas the upper range is between $ 1,50,000 to $ 2,00,000. There is a scope of going much higher than this on getting closer to being admitted to C -suite roles.
Insurance offers a flexible work schedule – Put it this way: It’s likely your insurance job won’t entail sitting behind a desk 24/7. Depending on your position, you may be working in the field to conduct insurance business. The industry respects millennials’ need to create their own lives, where family, friends, hobbies, and work come together in balance.
The next big multi-bagger opportunity – When we talk about insurance, from a push product it has now become a need-based product. Currently, the penetration of insurance is primarily more in the urban areas as compared to semi-urban and rural areas. Most Tier 3 cities and some urban areas look at Insurance as a savings product and not a protection or hedge-based product. However, with the increasing awareness of its importance, it can be reasonably predicted that it can grow between 15 to 20% for next foreseeable future, as per an Economic Times report.
Why do a Masters at Euclea?
The MBA provided by Eucléa allow you to become a versatile and competent manager, regardless of the field of activity. The common core will allow you to strengthen your general skills to have a solid foundation.
You will specialize with the choice of your other dedicated teaching units but also thanks to your experience in a company thanks to the work-study program. Thus, instead of simply training technicians who master the tools of the function, the program makes it possible above all to train manager-entrepreneurs capable of exercising responsibilities from the outset.
Title recognized by the state
The training leads to obtaining the title of level 7