Most students who complete the coursework for a Master of Finance degree have visions of jobs at high-powered private equity firms or hedge funds dancing in their heads. These are high-paying jobs that are relatively stable and highly coveted by many of their graduating peers. However, a finance degree opens up doors that many graduates fail to explore simply because the opportunities are not advertised in:
- brochures
- pamphlets
- networking events
Here are a few unusual, but satisfying, career paths that Master’s of Finance graduates can explore after their convocation ceremonies.
Entrepreneur or Start-Up Founder
Today’s economy is flooded with entrepreneur wanna-bes who do not have the financial smarts or educational background to handle running their own company. Those who have achieved a Master’s degree in finance are well-equipped to handle the day-to-day financial operations of a start-up firm, and it is easy to get involved even without a tremendously ground-breaking idea — simply show up at start-up meetups and promise your services as chief financial officer of the fledgling company. The work will be challenging and may not pay off financially at first. However, working at a start-up is an excellent way to skip the slow climb to the top of the food chain and fast-forward your success.
Credit Rating Agency
Finance employees tend to look down on their counterparts in government service. Most hedge fund applicants wouldn’t be caught dead at an interview for Moody’s or Standard and Poor’s. But the industry has changed a lot since the financial crisis of 2008. Government agencies have beefed up their capabilities. The best oversight officials are actually becoming better-compensated as employee salaries in the private sector continue to suffer. Many Master’s of Finance graduates will find that their skills will pay off in spades, and their climb to middle management and beyond will be steeper in government than in private enterprise.
Sales Associate
Graduates seem to be allergic to sales positions, and many master’s degree recipients actively disdain sales and business development careers. However, for candidates who are not yet sure of their financial career direction, sales are an excellent way to stand out from the crowd in a future interview. Sales also help to develop important interpersonal skills. Many hedge fund and private equity managers essentially work in sales. They must convince potential clients that their firm will handle investments better than any other. Selling a product, and selling your own services, is a valuable skill to have in financial circles. A sales position can help mold these talents.
Analyst for Non-Profit Organizations
Most Master’s of Finance graduates see the offer sheet presented by non-profit firms and immediately back out of the job. While it’s true that the average non-profit cannot afford to pay its employees on the scale of a top hedge fund, there are valuable skills to be mined from non-profit work:
- immediate leadership opportunities
- rolodex and personal connection-building
- exposure to different fields including:
- fundraising
- charity work
- cause-based advocacy
Foreign Financial Institution Employee
Many banks around the world highly value English employees trained in North America. They particularly hold in high regard Master’s of Finance graduates who are familiar with the Western financial system.These individuals can help transition less-modern banking systems into the world economy. Combining excellent career prospects with the possibility of travel or living abroad — what’s not to love?
Concluding Thoughts
Unusual career paths exist in every industry, but they are mostly shunned in the inward-looking world of finance. Master’s of Finance careers do not all have to exist on the same few blocks in New York, Boston and Washington, D.C. Your degree can take you around the globe and into a number of varied and interesting fields.
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