How to Choose a MBA in Finance Degree

In this article, you will learn about how to select the best MBA in finance. We will describe the types of classes you will study in your MBA finance program, and some of the universities that you may want to consider as you conduct your research.

What Is an MBA in Finance?

A master of business administration with a focus on finance is a graduate business degree that specializes in all types of corporate and business finance. Earning your MBA in finance will give you an edge in competition for many finance jobs with private and public organizations.

Students with an MBA in finance will complete a wide selection of classes in management, finance, accounting, ethics, marketing, operations, and making strategic business decisions. In addition, advanced coursework in investment analysis, management of risk, acquisitions and mergers, investment banking, research and investment trading will prepare you for exciting work in the world of business finance.

Why Earn an MBA in Finance?

Federal government statistics state that the employment of many business and financial occupations will grow by at least 5% by 2029, which is faster than average. This means that approximately 476,200 jobs will be added. It is anticipated that a more rigorous finance regulatory market will increase demand for finance experts, accountants and auditors.

But in the specific world of finance-related occupations, many professionals will see greater job growth than that. Depending upon your finance career interests, you may be able to take your choice of jobs in the occupations highlighted below.

Financial Analyst

Financial analysts are seeing higher job demand in the range of 5% by 2029 because they are needed to offer guidance to people and companies to make important investment decisions. Also, there are more financial products coming available with more competition and business growth. This will lead to job growth for financial analysts.

Some experts think that there will be significant changes in federal finance policies, given the results of the 2020 US election. It is thought that there could be more growth in the finance sector, which could also bring more job demand.

Many financial analysts carefully assess how stocks, bonds and other investments are performing. Most financial analysts work in pension funds, banks, mutual funds securities companies, and insurance companies.

The median pay in this field is attractive at $83,660, and makes it a job that MBAs in finance should consider.

Financial Manager

Financial managers are largely responsible for the financial health of a company or organization. The most common financial manager duties day to day are compiling financial reports, directing investment activities, and coming up with long term, profit strategies to meet the financial goals of the organization.

Job demand will increase by 15% by 2029, according to the federal government. It is thought that services will be in demand that are provided by financial managers, particularly in the areas of planning, directing and coordinating investments for all types of corporations.

Many MBA in finance professionals choose to become financial managers because of the hefty base pay, which is at a median of $134,180 as of May 2020. Financial managers who work in professional, technical and scientific services can expect a median salary of $154,790 per year.

Personal Financial Advisors

MBA in finance degree holders also should consider a career as a personal financial advisor, because this occupation is poised to see solid growth over the next 8 years— a 4% increase in jobs is projected by 2029.

Experts believe that the employment of these finance professionals will be driven largely by the growth of the aging US population. Millions of baby boomers are retiring every year, and they seek expert financial planning advice from MBA graduates with skills and experience in financial planning.

Further, fewer Americans are retiring with pensions every year, so individual retirement account performance will continue to assume major importance in Americans’ retirement years.

The median pay for personal financial advisors reflects their growing importance: $89,330, with the professionals working for securities and commodities traders seeing median salaries of $97,020.

May 2020 Bureau of Labor Statistics salary and job growth figures for Business and Financial Occupations, Financial Analysts, Financial Managers and Personal Financial Advisors represents national data, not school-specific information. Conditions in your area may vary. Data Accessed May 2021.

MBA in Finance Online Degree Options

Earning an MBA in finance clearly is a valuable ticket to a great career. But did you know that you can now earn your graduate degree mostly or entirely online? These online MBA programs are often highly rated and a great value, but how to know if the university and program suits you? It is up to you to do your educational homework to make an informed choice. US News and World Report recommends that you note these critical factors as you choose your MBA program:

• How flexible is the MBA program? Students need to check how long they have to complete their degree. Experts advise that students should be able to take a hiatus from studying if they need to take fewer classes. Sometimes life happens. Also, verify whether you can take most classes on your own or not. Some programs require you to attend fixed time classes with other online students.
• How much will you interact with your fellow students and faculty? Most students attend MBA school not just for the knowledge and program content learned. Most also learn a lot from other classmates and professors as you interact in class. Some online MBA programs create chances to connect by having brief residency requirements where you will go to the real campus for a few days of intensive classes.
• Are your resources the same? No one wants to spend big bucks on an online MBA if it is not the equal of its campus program. Check that you have the same access to the same resources as the campus students, including recruiter access, access to faculty, and career counseling.

With these criteria in mind, we have selected this online MBA in finance program for your consideration:

University of North Carolina

One of the most highly rated online MBA programs today is found at the University of North Carolina. UNC blends the flexibility of a top notch online program with the quality and intensity of a campus-based program. UNC features a unique blend of online classes with a high level of collaboration, with interaction with other students outside of class, as well as in person.

Key points to consider about the University of North Carolina program:

• The innovative curriculum is designed by the internationally renowned research and teaching faculty at UNC. You have the power of tailoring your MBA in finance studies to your individual career goals.
• Concentrations: You have the option of eight concentrations, including Corporate Finance, which you may choose to blend with other concentrations, including Data Analytics and Decision Making, Global Supply Chain Management, or Investment Management.
• Global Immersions: These are held once per quarter, and allow you to travel to large cities around the globe for very intense, weekend-long business learning experiences.
• Faculty: The faculty at UNC are highly regarded researchers, teachers and consultants. You will enjoy small classes, face to face online classrooms and one-to-one office hours with your academic supervisor.

Regardless of your chosen concentration, your business foundation will be formed with these classes:

• Business Communication
• Business Strategy
• Developing Management and Leadership Skills
• Analytical Tools
• Economics
• Financial Accounting
• Introductory Finance

Accreditation

You should verify if your MBA program is accredited by the Association to Advance Collegiate Schools of Business (AACSB). This is a highly respected business school accreditation body. Its stamp of approval is a sign that you are making a worthy investment with your MBA education dollars.

Summary

Selecting an MBA in finance to further your career goals is an excellent option, and you will be able to find plenty of financially rewarding job opportunities in many facets of finance.