MBA in Finance Career Options
Students earning an MBA in Finance open up a multitude of business doors, depending on their chosen specialty. Salaries and options depend on where the graduate goes to work and what line of financial management they choose to follow.
Financial knowledge is a key component in many aspects of the business world. For this reason, a background in finance can open a number of doors for employment options. The range of careers open to graduates with an MBA in Finance comes with a corresponding range of potential salaries. Options range from analytical to executive roles.
According to data from PayScale.com in April 2017, most graduates with an MBA in Finance who worked as finance managers earned between $65,715 and $124,011 annually at that time. Also according to Payscale.com, professionals like an office manager make $50,000 with a BBA. An MBA professional will start at a median salary of $53,409 that rises to $83,675 after nine years, and can top out at $131,379 after 20 years. By comparison, a finance professional who only has a BBA starts at a median salary of $35,653, and with 20 years of experience is making only $81,540.
Financial analysts reported among the lowest salaries of graduates with an MBA in Finance. Most financial analysts with an MBA in Finance earn between $46,625 and $85,757 as of April 2017, according to Payscale.com. Financial analysts are not required to have a graduate degree. However, the typical earnings reported for those holding a finance MBA were slightly higher than those with just a Bachelor of Business Administration in Finance. Analysts who advance to the upper ranks of senior financial analysts mostly earned from $63,856 to $102,387 as of April 2017, as reported by PayScale.com.
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Executive officers in charge of finance reported markedly higher earnings, with most vice presidents of finance typically reporting incomes of $99,026 to $220,042 and chief financial officers reporting $82,214 to $240,141 to PayScale.com in April 2017. Although these jobs require at least a bachelor's degree, the vast majority of VPs and CFOs hold MBAs. The differences in salary show in the years of experience. CFOs may have a median salary of $127,564, but with 20 years of experience, they could top at least $288,451. And vice presidents in finance make a median of $134,421, yet after 20 years of experience, they can bring home of $260,523.
Students enrolled in MBA finance programs, which are widely available at four-year schools, can pursue general finance studies or focus on areas such as corporate finance or investment management. Most MBA programs take two years to complete. Common courses among MBA finance programs include investments, corporate finance, portfolio strategies and analysis, derivatives, and international finance.
An investment management specialization may prepare students for jobs such as chief financial officer or finance manager, which concern a company's internal finances. A corporate finance specialization may prepare students to become or work for financial advisors for commercial or investment banks, consultancy agencies, high-net-worth individuals, securities traders, insurance, risk management, and accountancy.
An MBA in Finance opens up the business world to graduates in a plethora of various financial fields. Salaries will depend upon the graduate's chosen specialty, what kind of institution he works at, and the areas of responsibility.