MBA Risk Management: Course Details, Eligibility, Admission, Fees
MBA Risk Management is a 2-year PG course that focuses on identifying, evaluating, and minimizing potential risks that may affect a business by analyzing various factors such as market trends and financial data. After graduation, candidates can look out for job profiles like Risk Manager, Insurance Manager, Risk Analyst, and much more.
Table of Contents
- Why Choose an MBA Risk Management Course?
- MBA Risk Management Eligibility Criteria
- MBA Risk Management Admission 2023
- MBA in Risk Management Entrance Exams
- MBA Risk Management Fees Structure
- Types of MBA Risk Management Courses
- Top MBA Risk Management Colleges in India
- MBA Risk Management Syllabus and Subjects
- MBA Risk Management Course Comparison
- Courses After MBA Risk Management
- Career Options After an MBA in Risk Management
- MBA Risk Management Salary in India
- MBA in Risk Management Scholarships
- Skills to Excel as an MBA Risk Management Graduate
MBA Risk Management Course Details
| Degree | Masters |
| Full Form | Master of Business Administration in Risk Management |
| Duration | 2 Years |
| Age | The minimum age limit to enroll in the course is 20-21 years. |
| Entrance Exam | CAT, XAT, MAT |
| Subjects Required | BBA or Bachelor in a related field |
| Minimum Percentage | Graduation in any discipline with a minimum of 50% total marks. |
| Average Fees | ₹50K - 5 LPA |
| Average Salary | INR 4 to 9 LPA. |
| Employment Roles | Risk Manager, Strategy Manager, Business Continuity Manager, etc. |
| Top Recruiters | HDFC Bank, KPMG, Deloitte, ICICI Bank, etc. |
MBA in Risk Management course falls under the umbrella of MBA courses, providing students with comprehensive knowledge & expertise necessary for mitigating potential risks within an organization. Moreover, students learn the art of formulating and executing operational risk management strategies. The MBA Risk Management course duration is two years.
MBA Risk Management Admission 2023 requires students to have a minimum of 50% in a bachelor's degree. The candidate must qualify with the required cut-off marks in entrance exams such as CAT, XAT, MAT, etc. The MBA Risk Management syllabus aims to cover various topics on risk management principles, practices, and techniques.
After completion of the MBA Risk Management degree, graduates can pursue careers in the banking sector, IT firms, business consultancies, etc. The average salary of an MBA Risk Management graduate is in the range of INR 4-9 LPA.
Why Choose an MBA Risk Management Course?
There is a great scope in the field of Risk Management, and here is why pursuing an MBA in this specialization is fruitful for students.
- An MBA Risk Management in India has excellent future prospects as there is a high demand for decision-makers who can comprehend the potential risks and mitigate them effectively.
- Risk Management essentially involves topics like risk assessment and risk control. Therefore, with such a course structure, candidates will be able to enhance their critical thinking skills, communication skills, interpersonal skills, etc.
- Throughout the course, students will acquire exceptional knowledge in areas like insurance, finance, banking, consulting, and more.
- The employment rate of management graduates across various domains has increased by 15% since the last decade and is expected to rise on the same front.
Who Should Pursue an MBA in Risk Management Course?
Below are the points regarding who should pursue the MBA Risk Management course:
- Individuals who want to work as risk managers, financial analysts, or consultants can pursue this course.
- Individuals with risk management experience and who want to enhance their knowledge with respect to recent trends should enroll in this course.
- The course is also useful for candidates who have a background in finance, accounting, and business administration.
Read More: Why MBA? Top Reasons to Pursue an MBA in 2023
MBA Risk Management Eligibility Criteria
Students aiming to pursue an MBA in Risk Management shall be required to fulfill the eligibility criteria specified by the respective colleges. However, the basic eligibility criteria for admission are as follows.
- An undergraduate degree in any discipline from a recognized university is required.
- Most universities admit candidates who have at least 50% aggregate marks in graduation. In the case of ST/SC candidates, the score requirement is 45%.
- Top colleges consider valid entrance exam scores like CAT/XAT/MAT for admission.
- Candidates waiting for the results of the final year are eligible for provisional admission into the MBA Risk Management course.
- The minimum age limit to enroll in the course is 20-21 years.
MBA Risk Management Admission 2023
As a part of the admission process, top institutes either accept candidates based on merit or take into account their entrance exam scores. Students interested in pursuing an MBA Risk Management course must check out the complete admission process provided below.
- The students must take multiple state-level, national-level, or university-level MBA entrance tests.
- Students should fill out the application forms available through both online and offline mode.
- The candidates will then be shortlisted based on the cutoff scores released by the respective institutes.
- All the selected candidates should proceed with GP and PI rounds organized by the colleges.
- Candidates who get shortlisted in the final merit list should complete the admission process by getting their documents verified and paying the requisite fees.
Read More on MBA Admission 2023
MBA in Risk Management Entrance Exams
The top colleges offering MBA Risk Management courses accept students securing valid entrance exam scores. The most popular entrance exams for MBA in Risk Management are listed below.
|
S.No |
MBA Risk Management Entrance Exams |
|---|---|
|
1 |
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2 |
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3 |
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4 |
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5 |
Also, Check: MBA Entrance Exams
MBA Risk Management Fees Structure
The average MBA Risk Management course fee is in the range of INR 50,000-5 LPA. Below is a list of the best MBA Risk Management colleges along with a breakdown of their fees:
|
S.No |
College Name |
Tuition Fees |
Admission Fees |
Miscellaneous Fees |
|
1 |
IIRM Hyderabad |
INR 4.75 LPA |
INR 50,000 |
INR 1.05 LPA |
|
2 |
Kalasalingam University |
INR 70,000 PA |
INR 10,000 |
INR 10,600 |
|
3 |
NLU Jodhpur |
INR 1 LPA |
INR 12,000 |
INR 63,700 PA |
Types of MBA Risk Management Courses
The MBA Risk Management course can be pursued by students in regular mode or distance mode. Below mentioned are the MBA Risk Management course details:
|
Type |
MBA Risk Management Eligibility |
MBA Risk Management Duration |
|
Full Time |
Should have passed bachelor’s degree minimum of 50% + Entrance Examinations |
2 Year |
|
Part-Time |
Should have passed a bachelor's degree minimum of 50% marks. |
2 Year |
|
Distance |
Should have passed a bachelor's degree minimum of 50% marks. |
1-2 Year |
Distance Master of Business Administration in Risk Management Course
A distance/correspondence MBA Risk Management program is the right pick for candidates who do not have the time to attend it full-time. The following are a few universities that provide distance learning courses in Risk Management.
|
University Name |
Course Name |
Duration |
Course Fees |
|
IIRM Hyderabad |
International Post Graduate Diploma in Risk Management (IPGDRM) |
The maximum duration is 2 years |
INR 1.3 Lakh |
|
Swami Vivekananda Institute of Management and Technology, Delhi |
Post Graduate Diploma in Insurance and Risk Management |
1 Year |
INR 1 Lakh |
Top MBA Risk Management Colleges in India
With the emergence of the complex business environment and globalization demand for new courses such as risk management, quality management, etc., has increased leading to a high number of enrollment in these courses. Several prestigious colleges in India offer the MBA Risk Management program, and candidates can take admission based on merit or entrance exam scores.
Here is the list of top colleges that offer MBA Risk Management courses in India. Candidates can also check out the fee structure of the institutes from the respective college's website.
|
College Name |
Average Course Fees |
|
INR 70,000 PA |
|
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INR 15,000 PA |
|
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INR 50,000 PA |
|
|
INR 52,000 PA |
|
|
INR 4.75 LPA |
|
|
INR 74,000 PA |
|
|
INR 1 LPA |
|
|
- |
|
|
ABS Institute of Education and Management |
- |
MBA Risk Management Syllabus and Subjects
The MBA Risk Management course content includes topics from varied domains like finance, banking, insurance, consulting, and more. The syllabus for the first year remains common throughout all MBA specialisations. The specialisation subjects are covered in the MBA second year syllabus.
A list of important subjects involved in the MBA Risk Management syllabus is given below:
- Understanding Future & Options
- Fundamentals of Treasury Risk Management
- Legal and Regulatory Aspects of Risk Management
- Enterprise Risk Management
- Principles and Practices of Risk Management
- Risk Communication and Reporting
MBA Risk Management Subjects in Detail
Below mentioned are various topics covered in MBA Risk Management subjects:
|
Subjects |
Topics Covered |
|
Basics of Risk Management |
Types of Risks, Risk Identification & Assessment, Process of Risk Management, Risk Management Frameworks and Methodologies, etc. |
|
Enterprise Risk Management |
Categories of Enterprise Risk, Understanding Traditional ERM Practices, Risk Measurement and Quantification, Risk Culture, Emerging Risks, etc. |
|
Treasury Risk Management |
Funding Models, Treasury Management Functions, Types of Treasury Department and Structure, Capital and Financial Management, etc. |
|
Strategies of Risk Management |
Types of Strategies, Impact Analysis, Risk Matrix, Probability Analysis, etc. |
Also, Check: MBA Subjects and Syllabus
MBA Risk Management Course Comparison
MBA Risk Management full form is Master of Business Administration in Risk Management, the program provides applicants with a comprehensive understanding of various aspects related to risk management in organizations. Below is a comparison of the MBA Risk Management course with other courses offering the same career prospects:
MBA Risk Management vs MBA Insurance Management
The table below showcases the differences between MBA Risk Management and MBA Insurance Management:
|
Course |
MBA Risk Management |
MBA Insurance Management |
|
Full-Form |
Master of Business Administration in Risk Management |
Master of Business Administration in Insurance Management |
|
Stream |
Management |
Management |
|
Course Duration |
2 Years |
2 Years |
|
Eligibility |
Bachelors with a minimum of 50% from a recognized board. |
Bachelors with a minimum of 50% from a recognized board. |
|
Entrance Exams |
CAT, MAT, GMAT |
CAT, SNAP, XAT |
|
Top Colleges |
IIRM Hyderabad, Kalasalingam University, etc. |
Pondicherry University, NLU Jodhpur, etc. |
|
Fees |
INR 50,000-5 LPA |
INR 40,000-4 LPA |
Also, Check: Integrated MBA Courses
Courses After MBA Risk Management
Students in order to enhance their skills and domain expertise can pursue various certification courses and higher education options. Below is a list of courses that can be pursued after an MBA in Risk Management:
- Certification course in Risk and Information Systems Control (CRISC)
- Master of Science (MSc) in Risk Management
- Professional Risk Manager Certification Course
- Ph.D.
Read More: Top 10 Courses after MBA
Career Options After an MBA in Risk Management
In recent times, there has been an increase in the demand for managers who can predict the potential risk in an organization and minimize its impact. The following are various career options for students after graduation:
- Risk Managers
- Insurance Managers
- Insurance Underwriters
- Strategy Managers
- Consultants
Read More on Career After MBA
MBA Risk Management Salary in India
The average salaries for graduates vary from INR 4 to 9 LPA. The salary varies based on various factors such as experience, job role, industry growth rate, etc. The table below lists MBA Risk Management jobs along with their average salaries:
|
Job Profile |
Average Annual Salary |
|---|---|
|
Risk Manager |
INR 6.48 LPA |
|
Benefits Administrator |
INR 4.93 LPA |
|
Manager Trainee |
INR 5.08 LPA |
|
Insurance Underwriter |
INR 6.21 LPA |
|
Business Analyst |
INR 6.07 LPA |
|
Strategy Analyst |
INR 5.76 LPA |
|
Claims Manager, Insurance |
INR 7.5 LPA |
MBA in Risk Management Scholarships
Students pursuing MBA get various scholarships from private organizations and through government initiatives. Below is a list of scholarships available to graduates pursuing MBA courses in various specializations:
- IOCL Scholarship
- IDFC FIRST Bank MBA Scholarship
- Ericsson Empowering Girl Scholarship Program
- HDFC Bank Parivartan's ECS Scholarship
- Gaurav Foundation Scholarship
- Mahatma Gandhi Scholarship
- SSE (Stockholm School of Economics) MBA Scholarship
- MakeMyTrip' Padhte Raho, Badhte Raho' Scholarship
- Bharatiya Vidya Bhavan Scholarships
Also, Check: MBA Scholarships
Skills to Excel as an MBA Risk Management Graduate
An MBA in Risk Management is an excellent course for students who want to boost their corporate awareness, decision-making skills, etc. Through this program, students will not only understand the theoretical concepts but also develop the most in-demand and industry-oriented skills.
Below is a list of top skills that can be acquired by the students.
- Problem-Solving skills
- Communication skills
- Analytical skills
- Leadership skills
- Interpersonal skills
- Team Management skills
- Networking skills
Top Management Entrance Exams
Exam Date: May 19, 2024
FAQs on MBA Risk Management
Q: Who can pursue an MBA in Risk Management?
A: Student who has completed graduation with at least 50% marks and has a valid entrance test score is eligible to pursue the course. However, some institutes admit students on the basis of merit scores also.
Q: What is the admission process for the MBA Risk Management course?
A: Firstly, students should appear for various MBA entrance tests like CAT, MAT, etc. The participating universities shall then release their cutoff scores & shortlist students accordingly. Further, GP/PI rounds will be conducted by the institutes for final selection.
Q: What are the career prospects after completing an MBA in Risk Management?
A: MBA Risk Management graduates are employed as Risk Managers, Insurance Underwriters, Risk Analysts, Risk Management Consultants, Insurance Managers, etc., by top companies.
Q: What is the average salary package of MBA Risk Management graduates?
A: While freshers can secure an average salary package of INR 4 to 9 LPA candidates with experience stand a chance of earning up to INR 25 LPA.
Q: Which alternative degrees can be pursued in the field of Risk Management?
A: Besides the MBA Risk Management program, students can consider pursuing courses like MSc in Finance or MSc in Risk Management and Insurance at the postgraduate level.
Q: Is there Maths in MBA Risk Management?
A: Yes, there is maths in MBA Risk Management. The course covers a wide range of mathematical ideas, including probability, statistics, financial modeling, and decision analysis.
