Are you considering an MBA in finance? You’re on the right track to a rewarding career that’s always in demand. An MBA in finance can prepare you for a wide range of careers in finance, accounting, and management.
From investment banking to entrepreneurship, there’s no shortage of opportunities for MBA graduates with a finance focus. In this post, we’ll explore nine careers you can pursue with an MBA in finance and their average salary ranges.
1. Corporate finance
Corporate finance involves managing an organization’s financial resources to achieve its strategic goals. Corporate finance professionals work closely with executives to develop and implement financial strategies that support the organization’s objectives.
With a Master’s degree in finance, you’ll be well-equipped to pursue a career in corporate finance. Corporate finance professionals are well-compensated, with an average yearly salary of around $123,695. The job also offers significant growth opportunities, with many professionals advancing to senior management positions within their organizations.
A financial advisor is a professional who provides guidance and expertise in managing the financial affairs of individuals, families, or businesses. They offer advice on budgeting, investment strategies, retirement planning, risk management, and other financial matters. Financial advisors analyze their clients’ financial situation, goals, and risk tolerance to develop personalized plans to help them achieve their financial objectives.
In addition to their expertise, financial advisors often hold industry-recognized certifications that further validate their professional competence. To obtain these certifications, they typically undergo rigorous preparation, including completing specific coursework, passing comprehensive exams, and meeting experience requirements. Free study materials for Series 7 practice exams, along with other resources, provide additional resources including practice questions, mock exams, and study guides.
A financial advisor’s salary varies depending on their experience, location, and the size of their client base, with the median wage being around $88,890 annually.
2. Investment Banking
Investment banking is a highly sought-after career path for MBA graduates with a focus in finance. Investment bankers are responsible for helping companies and governments raise capital by underwriting and issuing securities such as stocks and bonds. Investment banking is known for its high salaries and fast-paced work environment. On average, they can earn up to $133,655 per year.
Earning an MBA degree in finance will lead you to pursue several roles within investment banking, including those of investment banker, financial analyst, and trader. If you are a working professional with time constraints, you can attend courses online. Online masters in finance programs are designed to provide key knowledge needed by financial decision-makers and market participants, including risk management and self-discipline, necessary to provide financial services.
3. Financial analyst
Financial analysis is a crucial aspect of the finance industry, involving the evaluation of financial data and market trends to inform investment decisions. Financial analysts work in a variety of settings, including investment firms, banks, and corporations, to help clients make informed investment decisions.
As a financial analyst, you may work in a variety of roles, such as equity analyst, portfolio manager, or research analyst. You’ll be responsible for analyzing financial statements, conducting industry research, and making recommendations to clients or senior management. Financial analysts are in high demand, with an average salary of around $68,410 per year. Additionally, there are significant growth opportunities available, with many financial analysts advancing to senior management positions within their organizations.
4. Private Equity
Private equity involves investing in privately-held companies or taking public companies private. MBA graduates with a finance focus are well-suited for careers in private equity, as they have the skills and knowledge to analyze financial data and evaluate investment opportunities.
You can become a private equity analyst, associate, or partner with an MBA in finance. Private equity analysts perform due diligence on potential investment opportunities. In the United States, the average salary for Private Equity Analysts is $76,655, but the range normally falls between $65,232 and $91,816.
5. Risk Management
Risk management is an essential component of the finance industry, and it involves identifying, analyzing, and mitigating potential risks that may impact an organization’s financial health. As a risk manager, you’ll be responsible for developing and implementing strategies to minimize financial risk.
You’ll gain the skills and knowledge you need to succeed in risk management with a master’s degree in finance. Risk managers are in high demand, and the job offers an average salary of around $122,961 per year. This salary can increase with experience, expertise, and the size of the organization. Moreover, many risk managers advance to senior management positions within their organizations.
6. Financial Consulting
Financial consulting is a field that involves providing expert advice to clients on financial matters, such as mergers and acquisitions, financial restructuring, and risk management. An MBA degree with a focus in finance is an excellent qualification for a career in financial consulting.
Working as a financial consultant is an excellent career option for those who enjoy problem-solving and have a passion for finance. They can work on high-profile projects that require critical thinking, creativity, and attention to detail. Further, they have the opportunity to work with a range of clients, from small businesses to large corporations, and will earn up to an average salary of $73,345 per year.
7. Insurance
Insurance is an industry that involves managing risk through the purchase and sale of insurance policies. Insurance professionals work in a wide range of roles, including underwriting, claims management, and risk assessment.
An MBA in finance allows you to pursue a rewarding career in the insurance industry. As an insurance professional, you’ll be responsible for managing risk and providing financial protection to individuals and organizations. Insurance professionals are well-compensated, with an average salary of around $53,640 per year.
8. Real Estate
Real estate is a dynamic industry that involves buying, selling, and managing properties. MBA graduates with a finance focus possess a unique set of skills and knowledge that make them well-suited for careers in real estate. They can analyze financial data and evaluate investment opportunities with a keen eye.
If you have a master’s degree in finance, there are several roles within the real estate industry that you can consider. These roles include real estate analyst, asset manager, and developer. The real estate industry offers significant growth opportunities and can earn you up to $76,282 per year.
9. Entrepreneurship
Entrepreneurship is an exciting and challenging career path that requires a combination of business acumen, creativity, and risk-taking. With a master’s degree in Finance, MBA graduates have the necessary skills and knowledge to pursue careers in entrepreneurship.
As a founder, CEO, or CFO, MBA graduates with a finance focus can utilize their financial expertise to analyze and manage financial data, develop business strategies, and make informed investment decisions. They can also use their knowledge of financial markets to raise capital and secure funding for their businesses. According to the Small Business Administration, the average net income for a small business owner is $69,128 per year. However, the potential for higher earnings is significant if the business is successful.
Conclusion:
An MBA in finance can prepare you for a wide variety of careers. The skills and knowledge gained from an MBA program can provide a strong foundation for a successful career in finance.
So, whether you are interested in managing money for clients, analyzing financial data, or starting your own business, an MBA in finance can help you achieve your career goals. With the potential for high salaries and career advancement, pursuing an MBA in finance can be a wise investment in your future.