Specialized MBA degrees allow candidates to gain enhanced general business knowledge while at the same time advancing their skills within specific industries. A Master of Business Administration in Finance is increasingly popular with candidates because it opens up numerous employment opportunities in areas such as corporate finance, financial and strategic planning, and portfolio analysis. The course is ideal for business professionals who wish to expand their knowledge, skills, networks, marketability and career options.
The MBA in Finance opens up employment opportunities, especially for candidates that already have work experience. This advanced degree grants candidates a competitive edge in the job market because of the general belief that studies at this level not only involve learning theoretical knowledge, but also applying it to real-world situations. The course prepares students for middle and upper management, where they are expected to demonstrate an understanding of current market challenges and the ability to adapt to changing conditions to ensure that a business remains profitable. According to Forbes magazine, the majority of graduates from this program are employed within nine months of graduation, proving the fact that there is a continuing, healthy demand for MBA qualifications, which remain the gold standard for graduate education.
An advanced degree in finance exponentially enhances the earning capacity of a graduate, which far outweighs the cost of pursuing the degree. Obtaining an MBA in finance from a top business school may be costly, especially if the candidate cannot work as she studies and has to leave her employment to focus on completing the curriculum. Nevertheless, graduates make a median salary of about $103,910 per year according to the Bureau of Labor Statistics. Finance MBA holders also qualify for additional compensation benefits that are only offered to top management, such as stock options, expense allowances, club membership and vacation packages.
The coursework for the degree exposes students to advanced knowledge in finance and gives them an opportunity to gain experience through management simulations, role playing, work projects and internships. Lecturers give students assignments, such as teamwork projects and reflective exercises, that develop self-awareness and allow students to recognize their strengths and weaknesses. The objective is to produce graduates who are confidently able to tackle the complex financial challenges corporations face, particularly as a result of globalization, which has increased the complexity of organizational operations and elevated competition among organizations.
MBA in finance students have access to significant networking resources. Many students who choose to pursue the MBA in finance are already working in the field and undertake completing the qualification to enhance their opportunities for personal growth and professional advancement. Students connect with other students, lecturers and work experience providers to form relationships, exchange contacts and build a life-long professional networks. The networks may provide connection to chief finance officers, chief executives, financial strategists, investment planners and others in a field where information and influence are key to achieving organizational objectives.
2016 Salary Information for Financial Managers
Financial managers earned a median annual salary of $121,750 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, financial managers earned a 25th percentile salary of $87,530, meaning 75 percent earned more than this amount. The 75th percentile salary is $168,790, meaning 25 percent earn more. In 2016, 580,400 people were employed in the U.S. as financial managers.
Maria OCadiz has been writing professionally since 1982, most recently publishing for various websites on topics like health and wellness, and education. She holds a Master of Arts in Education. She is a former university professor, curriculum facilitator and teacher.