5 Key Differences Between a Master's in Finance and an MBA in Finance

Main Differences Between a Master’s in Finance and an MBA in Finance

MBA programs cover core business curriculum first
Curriculum in Master’s degree program is more finance-specific
MBA programs prepare students for management and executive-level positions
MBA programs typically require students have work experience
Master of Finance programs are typically shorter

Once you earn a Bachelor’s degree in Finance, your next step is to decide if you’re going to continue on in school for a Master’s in Finance or seek an entry-level finance position. Some will apply for internships to gain on-the-job experience that can be used to fuel a successful job search. Others will enroll in graduate school immediately. The problem becomes choosing the appropriate type of graduate program.

Two of the more popular programs for finance undergraduates to compare is the MBA in Finance and the Master of Finance. While they are both graduate-level programs that cover advanced curriculum, each program is designed for a different type of student. Before assuming that you will learn essentially the same things regardless of the program that you choose, review this list of key differences:

1. MBA Programs Cover Core Business Curriculum First

A Master of Business Administration is designed for students who want to climb up the corporate ladder. While you can specialize your degree in finance and choose other even more specific concentrations, the purpose of the program itself is to cover core business curriculum first.

Students will cover a wide range of different core subject areas before even choosing their finance electives. Once the core work is completed, students will be ready for a smaller quantity of credits that are more specific to finance and the area in finance you’d like to work in. The core curriculum consists of:

Leadership and Organizational Behavior
Financial Reporting
Finance 1
Marketing
Technology
Business and Government
Strategy
Corporate Accountability
Finance 2

2. Curriculum in Master’s Degree Program is More Finance-Specific

The curriculum that’s covered in a Master’s in Finance program is much more based on theory. Coursework that is required is specifically focused on financed and topics relevant to the field of finance rather than the general advance business curriculum roadmap that is followed by an MBA program.

The purpose of the MF program is to hone in on the skills that students will need to work in finance in a very comprehensive manner so that students are ready to take two levels of the CFA exam. Academic theory is the focus in the classroom setting. Here are the classes you’ll take if you enroll in a Master’s of Finance program accredited by the Association to Advance Collegiate Schools of Business International:

Quantitative Methods
Economics for Finance
Fixed Income
Derivatives
Ethics
Portfolio Management
Financial Reporting and Analysis
Corporate Finance

3. MBA Programs Prepare Students for Management and Executive-level Positions

The entire purpose of business school is to groom leaders. MBA graduates will cover a wide range of different subjects relevant to running a business. Once students graduate from an MBA program, they should be prepared to be leaders or to quickly climb the ladder so that they can be promoted into leadership roles.

4. MBA Programs Typically Require Students Have Work Experience

Admissions requirements can vary from school to school. You still have to demonstrate you have a good academic history and pass admissions tests for each program, but there are differences. One of the biggest differences in requirements between MBA and MF programs is that MBA programs require work experience. This is why the population of MBA students tends to be older than the population of MF students.

5. Master of Finance Programs Are Typically Shorter

Most MBA programs require students complete about 33 credit hours of study. Since there’s less focus on general business operations, MF programs will require fewer credits for graduation. If you are enrolled in an MBA program full-time, it will take 18 to 24 months to graduate. Full-time MF students can graduate in 12 months.

Conclusion

As you can see, there are major differences between each graduate program. You may know you want to study finance at a more advanced level, but you will have to decide whether the Master’s in Finance of the MBA in Finance is the right choice for the goals you have set for the future.

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