If you are pursuing an MBA, choosing a concentration is a smart move. Doing so helps you to stand out from other job candidatesIt also brings other advantages to the table. Deciding on a concentration can be tricky, but finance is a great one to consider. By understanding the benefits of pursuing an MBA with a concentration in finance, you can make a more informed decision about your education. Here are five great reasons to concentrate your MBA degree in finance.
Expanding Job Prospects
Some of the most popular careers in finance are undergoing incredible growth. According to the U.S. Bureau of Labor Statistics, for instance, the financial management field is expected to grow by about 7 percent through 2024. The field of financial analysis is expected to grow by about 12 percent during that period, and the growth rate for the financial advising field is projected to grow by an incredible 30 percent. If job security matters to you, a concentration in finance is a smart move.
Excellent Compensation
Many finance careers often very competitive pay. You will have to work hard to earn your MBA in finance, and you will likely spend a lot of money to get it. However, you can rest assured of commanding excellent pay. According to the BLS, the median pay for financial examiners in 2014 was $76,310. For financial analysts, it was $78,620. For financial advisors, it was $81,060. In 2014, financial managers earned a median annual income of $115,320. These types of careers typically include excellent benefits too.
Variety of Career Opportunities
If you’d like to keep your options open after earning an MBA, a concentration in finance is a wise choice. With this degree, you’ll be able to find jobs across a variety of industries, including:
- commercial and investment banking
- financial planning services
- corporate management
- international financial management
You will be a desirable candidate for many types of businesses too, including:
- banks
- credit unions
- brokerage firms
- insurance companies
You never have to worry about being backed into a corner when it comes to job opportunities.
Personality Takes You Far
You will need excellent analytical and mathematical skills to get through your MBA program with a concentration in finance, but that’s not all that counts. The types of careers that you will be qualified to pursue also require great people skills. If you have an outgoing personality, it will take you very far in this field. Being an excellent communicator is also crucial, so if that’s one of your personality traits, you are sure to excel not only in your MBA program but in your career, too.
Excellent Credentials
When applying for jobs, you will be going up against many others who have MBAs. Far fewer of them will have concentrations in finance, however, because this particular specialization is narrowly focused. In many ways, it’s among the most difficult that you can choose. All this is to say that earning an MBA with a concentration in finance is a major accomplishment. It definitely impresses prospective employers. With this credential, you will stand out from the crowd in a big way, and that will help you advance in your career in a variety of ways.
Conclusion
The hard work that you put into earning your MBA with a concentration in finance now will all pay off when you are able to take your pick from a wide array of excellent careers that command great pay and many other great benefits. There are plenty of other options, but few open as many doors as this specialization.
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