When looking at MBA degrees you may ask yourself what is an MBA in Finance? An MBA degree is a natural step when trying to climb up the business corporate ladder. However, what many people don’t realize is that many MBA programs allow students to specialize in a subject area of interest within their field as part of the degree.
The Basics
So, what is an MBA in Finance? This MBA option is a graduate level degree that combines the traditional learning of an MBA program with specialized classes in financial topics. Potential courses may include investments, securities analysis, portfolio management, borrowing, fundraising, collections, disbursements and international finance. Many MBA finance degrees also combine learning with internships or paid positions in major financial corporations.
Skills Learned
An MBA in finance places a greater focus on theory and analysis in finance, building on skills learned at the undergraduate level. Students will have the opportunity to expand skills and techniques in mathematics, statistics and economic analysis, in a direct relation to tasks and projects encountered at a management level in the workplace. Skills will be learned through activities such as role playing, teamwork projects, management simulations as well as traditional lecture formats.
How You Can Use It
Those with an MBA in Finance qualify for higher level positions within the financial industry, including middle and upper management up through the executive level. Those with a finance MBA find jobs not only in commercial banks and credit unions, but in broker-dealer firms, investment firms, management consulting firms, large corporations and financial institutions both domestically and abroad.
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Degree Benefits
Like most MBA degrees, a graduate program in business increases your worth to potential or current employers. This means that in comparison to other candidates for a position that only have an undergraduate degree, you will be more likely to secure a job. Not only are you more likely to qualify for jobs, you also have greater leverage for a higher salary based on your educational experience, especially if your MBA program includes an internship in your career field. An MBA in Finance also increases your own personal knowledge of finance subjects. This makes you a more knowledgeable employee, allowing you to perform your job at a higher level, as well as take on more complex projects or management tasks.
Earning Capacity
With an MBA in Finance comes greater responsibility and the potential for higher salaries. For example, a graduate level finance degree may qualify you for a position as a financial manager. These managers average nearly $110,000 a year, according to the United State Bureau of Labor Statistics. In fact, many financial and executive level positions qualified for with an MBA in Finance have salaries well into six figures, not including benefits and potential bonuses. Executive level finance positions, such as Chief Financial Officers or Chief Risk Officers, can even make seven figure salaries depending on the company worked for.
The more competitive you can be in the job market, the better chance you have of reaching your goals. With the question of what is an MBA in Finance answered, it’s now time to take the first steps forward towards a new rewarding career by applying to one of the many programs throughout the United States that offers this MBA specialization.
