If you are graduating with an MBA in finance, there are many career fields you can enter within multiple sectors. Education, government, health care and corporate arenas hire recent grads to fill roles as financial analysts, budget analysts, financial planners and financial managers. Some grads with an MBA in finance go on to become Wall Street investment bankers.
According to U.S. News and World Report, financial manager is the second best job for MBA graduates, with IT manager taking the number one seat. Financial managers are responsible for producing cash-flow statements, financial reports and profit projections and engage in various analytic methods to track money movement. Financial managers work under strict guidelines and their work must be flawless. They are also responsible for other members in their department, helping them with reports and organization. This role requires excellent communication skills and a knack for leadership.
According to the U.S. Department of Labor Statistics, the average annual salary for a financial analyst in 2013 is $89,410.00 and extends over six figures. The top three cities that pay financial analysts the most on average in 2013 include Bridgeport, CT at $127,630.00, New York City at $116,250.00 and San Francisco, CA at $113,000.00. A financial analyst has a comprehensive grasp of the financial status of active and potential investments. With this massive responsibility comes a generous paycheck to match.
An MBA in finance is required on your academic resume if you want to work as a budget analyst. In this role, you will help prevent companies from going bankrupt. Professional budget analysts have their hands in the execution of budgets and development that directly impacts public and private organizations. Professionals in this industry get gratification from saving company necks from falling victim to financial chopping blocks. According to "MBA Today," the median 2013 salary for a budget analyst is $61,400, with the top percent earning $91,300.
Financial planners work side by side with individuals to help plan their financial futures. People hire financial planners to make sure they are moving in the right financial direction to put their kids through college, invest wisely and prepare for retirement. Your MBA in finance will give you the advanced understanding of taxes, estate planning and investments, but a good financial planner has the ability to listen and communicate with a variety of different personality types. Financial planners can work for big banks or venture out on their own.
Jen Saunders is an entrepreneur and veteran journalist who covers a wide range of topics. She made the transition to writing after having spent 12 years in England where she studied and taught English literature.