Is MBA in Wealth management enough to carve a global career in finance? Think again.
Can local expertise lead to global success? If not, then you need something more to succeed in the international industry. Find out the answer with us and take your career to new heights.
MBA (Wealth Management) is a highly sought-after choice for anyone looking to make a career in finance. Some of the things which have made this program so popular include a holistic treatment of the arena of wealth management and a focus on theory as well as practical training to prepare students for real-world challenges. With a focus on asset management, several other related areas are covered in the program, like estate planning, trust creation and money management.
With availability of highly specialized MBA programs, some of them lean more toward consulting and relationship management skills and require candidates to take additional exams. In some of the programs, there is a greater focus on financial analysis and can prepare candidates for the role of financial analyst in the industry. A comprehensive treatment of the complex field of wealth management is the primary reason why an increasing number of people are choosing to pursue an MBA (Wealth Management) to gain a foothold in the financial industry.
It is typically a 2-year post-graduate degree program and requires candidates to have earned their bachelor’s degree in a relevant field.
Candidates should have secured at least 55% aggregate marks at the graduate level to apply for an MBA post graduate program.
|1st Year MBA (Wealth Management)|
|Sr. No.||Subjects to Study|
|1||Accounting For Marketing Managers|
|3||Fundamentals Of Management|
|4||Human Resource Management|
|8||Principles Of Marketing Management|
|9||Statistical Methods For Business Decisions|
|2nd Year MBA (Wealth Management)|
|1||Financial Analysis and Reporting|
|2||Financial Markets, Treasury & Risk Management|
|3||International Financial Management|
|4||Management Information Systems|
|5||Strategic Cost Management|
|6||Security Analysis and Portfolio Management|
Benefits of Pursuing an MBA in Wealth Management
This program offers a distinct competitive advantage over standard MBA programs by equipping candidates with wealth management skills and knowledge.
Postgraduate candidates are better positioned for senior roles and pursuing such a degree can help them improve their career prospects significantly.
There is a great scope for wealth management professionals in the next few years which means there is a great deal of future potential for growth.
Common Areas of Employment for MBA (Wealth Management)
While students completing this program are eligible to apply for most management-related positions, they will find special preference in the financial domain, especially in banks, investment firms, investment banks, wealth management firms and other institutions engaged in financial advisory, wealth management or private banking services.
Common Career Roles for MBA (Wealth Management)
There are a number of professional roles these candidates should be able to fulfill after acquiring a good grounding and practical knowledge of wealth management domain. However, there are a few areas where they can perform better than most others.
Some of them include:
Chief Financial Officer
Is MBA (Wealth Management) Enough to Build a Great Financial Career?
Gaining an entry into the competitive financial world is one thing but will an MBA (Wealth Management) take you all the way? With fast-paced growth of wealth management industry in India, there is a greater emphasis on hiring certified and trained professionals with specialized knowledge to deliver the desired results. It is no longer enough to just be a good performer, you need to be the best. To carve a career path in financial industry, you need some credible experience in professional roles and also need to acquire advanced financial and wealth management skills to be able to survive and thrive in the industry.
Does CWM® hold Greater Relevance?
CWM® is a premier designation offered by AAFM® India which offers specialized knowledge and domain expertise in wealth management. Compared to MBA (Wealth Management), it offers several advantages to candidates which can make all the difference in the final analysis.
The program is designed to provide students with the skills necessary to excel in the industry. The program covers topics such as investment management, financial planning, risk management, and estate planning.
Let us compare the two certification programs to gain an understanding of their relative merits and demerits.
MBA in Wealth Management:
MBA (Wealth Management) is a comprehensive business degree that emphasizes knowledge in wealth management. The program covers various areas such as finance, accounting, economics, and strategy with an emphasis on wealth management. It is a popular choice for those who want to become a manager in a financial institution or investment firm. MBA (Wealth Management) provides students with a solid foundation in business and finance, which is necessary for a career in wealth management.
CWM® by AAFM® India, on the other hand, is a professional certification program that focuses exclusively on wealth management. The program is designed to provide students with the skills necessary to excel in the industry. The program covers topics such as investment management, financial planning, risk management, and estate planning. The CWM® program is rigorous, and it requires passing an exam that tests an individual’s knowledge and skills in wealth management.
Let us take a look at some of the pros and cons of pursuing an MBA (Wealth Management) and CWM® (Chartered Wealth Manager):
In terms of duration, MBA (Wealth Management) takes around two years to complete, and offers standard industry knowledge in the relevant knowledge domains.
The CWM® program takes six months to a year. The CWM® program is ideal for those who want to complete a program quickly without losing out on any of the advantages afforded by a long-duration program.
When it comes to recognition, MBA in Wealth Management is widely recognized across the globe as a degree in business and finance.
The CWM® program, on the other hand, is more specialized and is recognized in 151+ countries across the globe. It is a highly-valued professional designation, making it an excellent choice for those who want to pursue a career in the global wealth management industry.
Enhanced Career Opportunities:
An MBA (Wealth Management) can open up numerous job opportunities in the financial sector. It can provide you with the skills and knowledge needed to become a wealth manager, financial analyst, portfolio manager, or investment banker.
CWM® can give a boost to your career in the financial industry and attract excellent growth opportunities as a wealth manager, private banker, estate and financial planner, financial analyst, equity analyst and more.
Increased Earning Potential:
This program can easily improve earning potential due to the specialized skills and knowledge. Graduates with an MBA (Wealth Management) usually command higher salaries and bonuses.
On the other hand, CWM® certified experts are found to be earning 27% more than their peers and their expertise in the chosen domain is enough to attract higher compensation.
Pursuing this program provides you with access to a vast network of alumni and industry professionals. Networking is a key asset in the financial industry and can help open up new job opportunities and business partnerships.
Earning CWM® designation can open up immense networking opportunities with access to a global pool of 300,000+ AAFM Certified professionals that can help propel your career growth in more ways than one.
MBA program can offer specialized knowledge in financial planning, investment management as well as risk assessment. This knowledge can be applied for managing personal finances and for managing assets for clients.
One of the greatest CWM® benefits is that it’s a far more comprehensive certification program, which can help lay the foundation for building a career in various sub-domains related to wealth management, private banking, investment management and financial analysis. What sets apart this certification is in-depth theoretical knowledge and the training aimed at facing real-world complex scenarios.
The skills gained through MBA in Wealth Management find application in various domains. Some of these include banking, investment management and insurance.
Skills acquired by completing CWM® can be relevant in multiple domains as well as we have already discussed.
|Criteria||MBA in Wealth Management||Chartered Wealth Manager (CWM®)|
|Course Duration||2 years||6 months to 1 year|
|Recognition||Widely recognized globally||Specialized and recognized in 151+ countries globally|
|Enhanced Career Opportunities||Wealth Manager, Financial Analyst, Portfolio Manager, Investment Banker||Wealth Manager, Private Banker, Estate and Financial Planner, Financial Analyst, Equity Analyst, and more|
|Increased Earning Potential||Graduates usually command higher salaries and bonuses||Certified experts earn 27% more than their peers|
|Networking Opportunities||Access to vast alumni network and industry professionals||Access to a global pool of 300,000+ AAFM Certified professionals|
|Specialized Knowledge||Specialized knowledge in financial planning, investment management, and risk assessment||Comprehensive certification program covering various sub-domains related to wealth management, private banking, investment management, and financial analysis|
|Transferable Skills||Applicable to various domains such as banking, investment management, and insurance||Relevant in multiple domains|
|Cost||Can be expensive||One of the most affordable finance certification programs|
|Time-Intensive||Full-time MBA programs can take two years to complete, while part-time programs can even take up to four years||Duration of completing CWM® solely depends on an individual’s level of preparation and can be completed in as little as 6 months|
|Competition||Graduates must compete for good job opportunities||AAFM® India offers placement support and refers competent candidates to work with top-notch investment firms, global banks, and financial institutions of repute|
|Limited Focus||Graduates could be working with high-net-worth individuals and lack exposure to other financial domains||Does not limit the scope of growth or work opportunities for its candidates and offers them exposure to several financial domains to gain functional knowledge and skills|
|Lack of Hands-On Experience||May lack hands-on experience||In-depth theoretical knowledge and training aimed at facing real-world complex scenarios|
It can be a rather expensive postgraduate program. The cost of tuition, textbooks, and other fees can weigh down on an average student. Also, taking time off from work to pursue an MBA can result in a loss of income.
CWM® suffers from no such drawbacks as one of the most affordable finance certification programs. Also, it can be pursued via online mode of study as well, which allows professionals to learn without losing their earning opportunities.
Pursuing MBA (Wealth Management) can be time-consuming. Full-time MBA programs can take two years to complete, while part-time programs can even take up to four years.
The duration of completing CWM® solely depends on your level of preparation and can be completed in as little time as 6 months if you are well acquainted with the knowledge areas and ready to make a concerted effort.
The financial industry is very competitive, and this program does not ensure getting a job placement. Graduates must compete for good job opportunities.
AAFM India offers placement support as well and refers competent candidates to work with top-notch investment firms, global banks and financial institutions of repute.
Pursuing MBA (Wealth Management) can limit the kind of job opportunities one might expect. Graduates could be working with high-net-worth individuals and lack exposure to other financial domains.
CWM® does not limit the scope of growth or work opportunities for its candidates and offers them exposure to several financial domains to gain functional knowledge and skills to confidently work in the industry.
Lack of Hands-On Experience:
An MBA in Wealth Management is not designed to offer hands-on experience, which is a critical ingredient for success in the financial industry. Graduates may need to get additional training or internships to gain practical experience.
CWM® can prepare candidates for real-world challenges and offers specialized training which gives them a distinct advantage over the competition when it comes to showcasing their skills to employers and clients.
Finally, pursuing an MBA (Wealth Management) can have many benefits, including increased earning potential and earning specialized knowledge. However, it is also important to consider the cost, commitment, time and limitations in terms of job opportunities before making a final choice. To acquire advanced wealth management skills and expert knowledge, professionals can pursue CWM® offered by AAFM® India to build a great career in wealth management