Dear Mayank, my friend's daughter completed MA in Economics and is now teaching in a private college. However she wants to switch career as she is not sarisfied with the payscale of her job. She is pursuing an one year course in Data analysis simultaneously and was planning to switch to Data analysis career. However now she has been advised by her husband (she got married recently) to build upon her economics background by pursuing MBA in finance. She is confused what will be a better way forward Data analysis or MBA finance. She is 26 years old and resides in Calcutta. Request you to kindly advise on the best way forward for her.

Ans: Hello Rajesh,

First and foremost, thank you for getting in touch with us. Sincere congratulations to your daughter on finishing her PGDM and landing a position as a Business Analyst with an MNC bank. Depending on her job objectives and personal preferences, pursuing an MBA in Finance overseas may be a smart move for her to advance in her career.

When choosing whether to pursue an MBA in Finance overseas, keep the following things in mind:

1. Career Objectives: An MBA in Finance from a foreign university can be a fantastic option if your daughter wishes to switch careers or grow in the financial industry. She can acquire the skills and knowledge she needs to flourish in the finance sector as a result of it.

2. Personal Choices: Your daughter should decide if she is prepared for the challenges and costs of pursuing an MBA overseas. She should also take into consideration the location (setting) and culture of the country she wants to study in, as well as if it is compatible with her own preferences.

3. Skill Enhancement: Your daughter's knowledge and abilities in areas like corporate finance, risk management, investment analysis, and financial management can be improved by enrolling in an MBA program abroad, which can provide her with specialised coursework and hands-on learning experiences in the field of finance.

4. Networking Possibilities: By studying overseas, your daughter may have the chance to connect with professionals, academic staff, and students from various backgrounds. This can help her create a strong professional network that could be useful for her future career aspirations.

5. Expenditure and Return on Investment (ROI): Your daughter should take into account the cost of tuition, living expenses, and other associated costs before pursuing an MBA abroad because it can be pricey. Not just that, she should also consider the Return on Investment (ROI) of the MBA, or whether earning the degree will enable her to pursue her career objectives and will be financially worthwhile.

6. Business School’s Social Standing: Your daughter should conduct research and select a prestigious business school that provides an MBA in Finance overseas. Her future employment opportunities and professional advancement may be significantly impacted by the business school's reputation.

Your daughter's specific career aspirations, personal situation, and financial concerns should ultimately guide her decision about whether to pursue an MBA in Finance overseas. Making an informed choice requires extensive research and evaluation of various MBA programs, including their reputations, curriculum, faculty, alumni networks, and placement rates. Consultation with career counselors, mentors, and finance specialists may also be beneficial.

For more information, you can visit our website.

Ans: While it is indeed possible for someone with a commerce background to pursue an MBA in data science and data analytics, your son will require a combination of technical, analytical, and business skills. To pursue an MBA in data science or data analytics abroad, your son should research universities that offer programs specifically tailored to his credentials. Apart from academic qualifications, relevant work experience, internships, or projects in data analysis will enhance your son's profile

Ans: Can look at option of pursuing CFA as he is looking for career in Finance. Can start preparing for CAT when he reaches 2nd year if he plans to pursue MBA.

Ans: Try for all the given options. See where you get better college. MBA Business Analytics from IIM B is supposed to be the best option. MBA Data Science colleges do provide placements. Do check the placements of the college you want to join before you start preparing for the entrance exams.