As a field, financial management has many functions, specializations and career options. Generally, those who work in this field are responsible for analyzing, collecting, and managing financial data and systems. Students can learn and develop the skills necessary to enter this field at the graduate level. Though a student can use their financial management degree in many career tracks, most degree programs offer students three main specializations: public accounting, financial analysis and fraud examination.
Since financial management is such a broad field, students are able to enter degree programs such as the Master of Science in Financial Management with a variety of backgrounds and undergraduate degrees, though those with previous financial experience or degrees may be able to opt out of several courses due to experience. Upon successful completion of the program, students will be able to apply financial management principles, concepts and techniques to a real-world setting. As a result, they will be fully equipped to pursue their ideal financial management position.
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Master of Science in Financial Management
Much of the core courses in financial management include basic, intermediate and advanced accounting as well as project management and corporate finance. These core courses provide students with a foundation in finance. Core courses include:
- Management Roles in Accounting
- Accounting Basics
- Mid-level and Advanced Accounting
- Project Management
- Finance in Corporate Environments
- Concepts of Accounting and Finance
Popular Career Options
Although students can use their financial management degree in a variety of ways, this degree program is designed to prepare students for a few main career options. These options include:
- Certified Public Accountant (CPA)
- Financial Manager
- Financial Analyst
- Certified Fraud Examiner (CFE)
- Chief Financial Officer (CFO) or Chief Information Officer (CIO)
Employment Outlook and Salary Info
The U.S. Bureau of Labor Statistics provides job outlook and salary information for those working as financial analysts and managers. The mean annual wages were $95,320 for financial analysts and $134,330 for financial managers in May 2015. The job growth for financial analysts is projected to increase by 12% from 2014-2024. The Bureau projected a 7% growth for financial managers that same decade.
Master's degrees in financial management teach students numerous accounting and finance skills in the field to prepare them for many different jobs, such as financial managers, analysts, accountants, or CFOs.