A financial planning MBA program incorporates ethics, analysis, experience and research into business-related subjects. It prepares students for professional certification as financial planners. Graduates are prepared to manage their clients' money and advise them about future financial decisions.
Admission into an MBA program requires a bachelor's degree and, typically, submission of Graduate Management Admission Test (GMAT) scores. Academic institutions may require prerequisite courses, such as employee benefit management and personal income tax.
Master of Business Administration in Financial Planning
The coursework of an MBA degree program is often rigorous and multidisciplinary. Typical course topics include:
- Economics of management
- Financial planning principles, laws and ethics
- Risk management
- Estate planning and tax management
- Management of personal portfolios and investments
- International business concepts
Employment Outlook and Salary Info
Graduates can seek employment in organizations that offer financial planning services, such as banks, credit counseling organizations, insurance companies, accounting firms and credit unions. According to the U.S. Bureau of Labor Statistics, positions as financial analysts and personal financial advisors often require a master's degree (www.bls.gov). The Bureau found that these professionals earned mean annual salaries of $100,990 and $121,770, respectively, as of May 2018. Employment for both of these occupations was projected to rise faster than average from 2018-2028 compared to other careers, at 6% for financial analysts and 7% for personal financial advisors, per the Bureau.
Continuing Education Information
Upon successful completion of a financial planning MBA degree program, graduates can take the Certified Financial Planner certification examination, which is administered by the Certified Financial Planner Board of Standards, Inc. Additionally, graduates can go on to earn advanced degrees in business administration and/or financial planning.
To summarize, MBA in Financial Planning programs prepare students to become certified as financial planners to manage the financial assets of a wide range of clients. They also provide comprehensive training in general business concepts, so graduates can pursue other business careers or earn more advanced degrees.