A Master of Business Administration (MBA) with a concentration in finance goes into greater depth of study in economic methods and concepts than the general MBA. Finance is a popular business specialization for professionals who want to succeed in the financial industry and improve their management skills and business acumen. Most finance MBA program candidates have between three and five years of experience in the working world and want to pivot to focus on skills in economics, budgeting and money management while still maintaining general business knowledge.
The online MBA with a concentration in Finance from Murray State University can help students develop the foundational skills applicable to managerial roles in various industries.
Career Opportunities for MBA Finance Grads
According to GMAC (Graduate Management Admission Council), the top three industries hiring the most MBA graduates are finance, technology and consulting. Survey findings report employers are confident regarding the value of those with an MBA in their businesses. If you’ve decided that you want to work in the finance industry, here are seven careers you can pursue with an MBA in finance:
- Financial manager. These professionals typically manage a team of financial analysts and develop policies, create reports, expand long-term goals and direct investment activities. Typical job duties are writing and reviewing reports, overseeing cash flow and acting as a go-between for financial team members and upper management. According to the S. Bureau of Labor Statistics (BLS), the median annual pay for this role is $134,180.
- Financial analyst. Financial analysts provide the foundation of financial services for an organization. They collect data, establish cost for products and services, provide policy suggestions, analyze trends and monitor financial status. This position typically provides an opportunity for advancement. The average yearly salary is $83,660.
- Corporate controller. This role mixes responsibilities from accounting and finance. These professionals coordinate and develop accounting functions, craft financial protocols, prepare reports and oversee payroll accounts. In smaller organizations, a corporate controller can perform a role similar to a chief financial officer. The average yearly salary is $95,000.
- Management consultant. Management consultants typically work for third-party consulting firms and provide guidance on how to run an organization efficiently and effectively. Data gathering, conducting workshops, leading teams of analysts and presenting findings are common responsibilities for this role. According to the BLS, yearly pay is $87,660.
- Accounting manager. Accounting managers monitor the day-to-day activities of the accounting department, prepare financial documents, connect goals and procedures and ensure secure policies regarding financial information. Professionals in this role can average $112,513 a year, according to com.
- Budget analyst. Budget analysts help organizations plan their finances by looking at financial data and making recommendations. They help businesses track spending, run financial reports, collaborate with management and assess budget decisions. They can typically make $78,970 per year, according to BLS.
- Investment banker. These professionals meet with clients and help organizations raise money for expansions, help companies go public or assist businesses with mergers. They act as financial advisors and dealmakers. This lucrative position averages $82,561 or more per year, according to ZipRecruiter.
Is an MBA in Finance Right for You?
Students will develop competitive skills by studying financial methods, markets, trading, investment strategies and derivative securities. The core curriculum helps expand mastery in corporate finance, accounting, managerial economics, business analytics, marketing and more. In addition, students will have access to workshops and training at the Center for Economic and Entrepreneurial Development.