The Masters in Business Administration (MBA) with a specialization in finance has become an incredibly versatile degree. You will find finance MBAs throughout the world of business, no matter if the organization is small or large. You will also find MBA finance graduates working for many governmental agencies and even non-profit organizations. Regardless of the aspect of business that interests you, the MBA in finance strives to provide you with the knowledge and skills needed to succeed.
What is the typical MBA in finance salary? First, let’s discuss what the MBA with a finance specialization usually entails. The MBA is a graduate level degree that can take anywhere from one to three years to complete depending on the program you choose. In order to qualify for the MBA, you must have an undergraduate degree (preferably in business or accounting), and you must have a good score on the GMAT test.
Today, there are a wide variety of ways to earn your MBA degree, whether it is through an executive MBA program that takes a year, to a standard two-year program, to the many options available on the evenings and weekends and online. In order to specialize in finance, you will likely switch from general business topics to more focused subjects, such as corporate finance, analytic skills, capital markets, budgeting, cash flow evaluation, and factoring risk.
MBA in Finance Salary and Career Trajectory
The MBA in finance salary is on the rise. Even lower paying positions, such as those in non-profit organizations, can still offer finance MBA graduates excellent starting paychecks. Government agencies administer slightly higher salaries. But of course the highest average MBA in finance salary is offered in the private sector, where substantial bonuses in addition to the yearly salary can be common.
Once you have completed your finance MBA, you may be opened up to more career opportunities. Finance MBA graduates are found in all aspects of business: you could be a corporation’s controller, work as a treasurer or finance officer or work in the credit markets as a credit manager. Additionally, you might work in risk management or insurance or you could work in the banking industry, anywhere from securities to bank management. In other words, with an MBA in finance, there are a variety of related careers that you may find interesting.
The job outlook for those holding an MBA with a finance specialization is positive. Even in today’s difficult economy, the Bureau of Labor Statistics states that the need for finance MBAs will grow in the next decade, although competition for the best positions will be strong. If you are hoping to receive an income at the MBA in finance salary level, start exploring MBA schools today.