In today’s uncertain economic climate and job market, an advanced degree that increases options for one’s professional future can be a goldmine, and there are few educational goldmines as deep or potentially lucrative as the Master’s in Finance. Because the degree can prepare its holder for a variety of positions, the expected salary can vary as well but generally increases earning potential across all sectors.
A Pathway to Potential Positions
The Master’s in Finance degree can open doors to a variety of positions in both the private and public sectors, from corporations to government to individual entrepreneurship. Courses in such subjects as finance theory, investment analysis, corporate finance, financial management and managerial accounting prepare degree holders to work as personal financial advisors, financial managers, financial analysts, financial services sales agents, insurance underwriters, credit risk management analysts and mergers and acquisitions analysts. All of these careers require an advanced degree in finance. For more information on career possibilities, click here.
Increasing Income Beyond the Bachelor’s Degree
This wide variety of career options means, of course, that salary can vary widely as well, but in general, an advanced degree in finance can lead to a higher salary than that attainable with a baccalaureate degree alone. The highest salaries are for vice president for finance positions with a median annual salary of $170,000. Personal financial advisors earn a median salary of $64,750 but as the population ages toward retirement a dramatic 32% job growth for this career is expected. Finance directors and senior financial analysts can earn as much as $154,000 and $83,000 in median pay respectively, while insurance underwriters can earn as much as $126,000 annually. Management positions in particular favor candidates with advanced degrees, and certifications such as the CPA and the CFA increase opportunities and earning power.
The Value of a Graduate Degree
In general, graduate degrees lead to increased earnings across every discipline. A study on the economic value of college degrees by the Georgetown Center on Education and the Workforce found that among the 15 fields of study analyzed, median earnings of those with a graduate degree in the field are an average of 38.3 percent higher than those who only possess a bachelor’s degree in the same field. U.S. News & World Report has an excellent article on the value of graduate education.
Finance: A Growing Field
The U.S. Bureau of Labor Statistics reports that, due to such factors as increasing investment complexity, the changing regulatory environment, emerging global finance, and the aging baby boomer population, finance positions for those with an advanced degree are expected to grow by 25% through 2020. Finance influences nearly every aspect of American life; a graduate degree in the field can serve as a springboard to a rewarding and lucrative career with excellent potential for growth.
