MBA in Finance
Ask a Question
There are many careers in the financial world that can be prepared for through a master's degree in business administration with a focus in finance. These degrees cover general business principles like management and accounting, as well as financial topics like world financial instruments and financial techniques. They take two to three years to complete when students take a part-time class load.
Many financial career specializations utilize the skills learned in an MBA in finance degree program. Financial managers are the professionals who work within companies to keep the firm's financial strategy in line with its overall goals. Financial analysts are professionals who provide similar services, but from a third-party, consultant standpoint. They may help investors select stocks, buy or sell stocks for firms, or manage a company's investment portfolio. Personal financial advisors give individual clients advice about achieving their financial goals. They help clients examine their spending habits and pick investments that meet their requirements for risk and returns.
The job growth and employment prospects finance MBA graduates can expect will depend on the specialty they choose to pursue; however, most finance positions are well paid, and thus have tough job competition. Financial analyst and personal financial advisor positions will be growing relatively fast, as financial savvy becomes more important for success and financial instruments become more complex. Financial manager positions will grow more slowly due to streamlining and corporate downsizing. Earning a voluntary professional credential can help job-seekers increase their prospects and employability. Financial careers pay anywhere from $46,000-135,000 a year, depending on one's experience level and specialty.
Answers to Your Questions
Accredited Schools Offering MBA in Finance Degrees by Location
Online
Learn more about Kaplan University - Business Programs
Arizona
California
Colorado
Florida
Georgia
Illinois
Indiana
Maryland
Minnesota
Missouri
Nevada
New York
North Carolina
Ohio
Oklahoma
Oregon
Pennsylvania
South Dakota
Tennessee
Texas
Utah
Virginia
Washington
Wisconsin
Career Specializations
- Financial Managers: These professionals work for private firms and government agencies to help them grow capital, pick investments, and prepare reports of financial information. These managers also help businesses meet long-term fiscal goals.
- Financial Analysts: Financial analysts are experts at helping businesses decide which types of financial instruments to invest in. They analyze the business's goals and decide which cash-flow strategies will help it best meet those goals.
- Personal Financial Managers: These financiers advise individual clients on ways they can met their financial goals. They help clients prepare for retirement, grow wealth, and manage their money.
Degree Levels
- Master's Degree in Business Administration: 2-3 years to complete
Education & Certification Requirements
The master's degree in business administration with a focus in finance is a great way to prepare for a number of careers in finance. These graduate business programs allow students to take extensive course work in general business principles, specific financial instruments, types of finance, and financial management. Classes like debt markets and international financial markets teach the many means that companies and investors can use to increase their wealth. Others, such as corporate finance and institutional money management teach students the techniques for managing money for different types of clients. Upon graduating, students will have a well-rounded but in-depth understanding of the finance world.
Most MBA degrees are aimed at business professionals who want to increase their practical understanding of useful business skills. Because of this, these programs require that applicants have at least two years of professional experience in business.
Although not always required for employment, voluntary professional certifications may help finance graduates land a job, negotiate a better salary, or advance to a higher position. Financial managers and financial analysts can pursue the Chartered Financial Analyst title from the CFA Institute. This rigorous credential requires at least four years of finance experience beyond graduation. Personal financial planners can earn the Certified Financial Planner credential, which is given out by the Certified Financial Planner Board. This test requires a bachelor's degree and three years of work in a finance position. A Certified Management Accountant title might be relevant for some financial roles that require significant accounting work or knowledge. (BLS; BLS; BLS)
Salary Information
Finance is one of the highest paying off all job sectors. However, one's expected salary will depend on their educational and professional experience, as well as their specialization. New financial managers with an MBA can expect salaries of around $72,000 a year; those with professional experience can earn $99,000-135,000 a year. Many work as securities and commodities traders in private firms with insurance carriers, local governments, or depository credit intermediaries.
Financial managers earn a bit less, at around $52,000 for entry-level positions; those with experience earn $73,000-99,000. Financial managers are also employed by the SEC, brokers, insurance companies, and the federal reserve.
New personal financial advisors earn about $46,000, while those with a developed clientele earn $69,000-119,000. Financial advisors also commonly work at financial services and brokerage firms, with the SEC, and in private companies. (BLS; BLS; BLS)
Job Outlook
The job outlook in the finance world will vary by specialty. Personal financial advisors will see much faster than average job growth due to an increase in the complexity of financial instruments. However, the competition for these new jobs will be difficult, as people of many backgrounds qualify for these positions, and many applicants are attracted to the large paychecks. (BLS)
Financial analysts, too, will see job creation that is faster than the national average, as global wealth increases and firms require more complex financial investments in order to be competitive. Like the personal financial advisor career, new financial analyst applicants will face tough competition for jobs, as people of many backgrounds choose to enter this field. (BLS)
Financial management positions will experience slower job growth during the 2008-2018 period. As the general population increases, businesses will grow and hire more managers, but growth will be tempered by corporate streamlining and downsizing. (BLS)
Related Careers
Careers in economics can also benefit from a solid understanding of finance principles. Economists analyze financial markets and the economic state in the U.S. and make predictions about future growth. A master's degree in economics is the best preparation for careers in this area.
International business professionals should understand how financial markets operate around the world. They must also understand how local cultures and laws factor into their operation and supply chain. Master's degrees in business administration with a focus in international business are good preparation for these careers.
