Why Earning an MBA in Finance Makes Sense
Earning an MBA is a smart move for ambitious workers who want to move up in the business world. But for those who want to reach the pinnacle of the finance profession, earning an MBA in finance makes sense that turns into dollars.
That’s because an MBA in finance gives graduates a unique blend of business knowledge and financial expertise. Given the current job market, that kind of combination makes a job candidate stand above the competition.
An MBA in finance is a popular choice both for those who want to launch their own company or move into a higher position at their current job. It also preparers them to manage an individual portfolio or oversee the investment strategy of a large corporation.
Here are five reasons why earning an MBA in Finance is a smart choice.
Variety of Jobs
The phrase “top jobs in finance” is overused, but in this case, it’s applicable. With an MBA in Finance, your peer group and competition for finance jobs is much smaller. Jobs that are available to graduates with an MBA in Finance include:
- Chief Financial Officer
- Vice President of Corporate Finance
- Finance Manager
- Investment Banker
- Management Consultant
- Senior Financial Analyst
The graduate degree also perfectly prepares students for launching their own start-up companies. They have the knowledge to develop and oversee business strategy, while also understanding the complexity and details of finance.
You’re In Demand
People with expertise in finance are in high demand. For example, the U.S. Bureau of Labor Statistics (BLS) projects a 19% increase in the number of finance managers by 2026. That’s almost triple the rate for the average occupation in the United States.
In New Jersey, that number is 16.7%, also far faster than the average. In New York, the increase is expected to reach 20.8%. The New York City metropolitan area also employs, by far, the highest number of financial managers.
You’ll Earn a Great Salary
New York ($210,510) and New Jersey ($175,880) offered the highest salaries in the country for finance managers as of May 2018. The cities with high levels of employment for finance managers (with mean annual salary in parentheses) are:
- New York City ($208,670)
- Chicago ($151,860)
- Los Angeles ($157,860)
- Boston ($153,480)
- Washington D.C. ($171,010)
- San Francisco ($184,350)
Specialization is Smart
Once you enter the business world, there will be many other people with MBAs. However, a specialization in finance, which is one of the most difficult but also most useful specializations to achieve, makes a job candidate stand apart. The focus of a quality MBA in Finance program is to prepare the best business leaders possible.
Perspective is Key
Leadership skills are something a good MBA program will teach. But getting a concentration in finance can only expand those skills. Financial managers with an MBA see past what is in financial records, taking a longer-range view and evaluating the risk and opportunities for their organization.
Committing to earn an MBA in Finance offers graduates a better chance at success in the business world. That’s the bottom line. For every ambitious student, that’s an opportunity worth serious consideration.