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Top 6 MBA in Finance Careers

January 3, 2017 4:31 pm0 commentsViews: 114
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MBAs and Other Business Programs for Working Professionals

Earning an MBA in finance has long been considered one of the mainstays in the business world. Getting your MBA in finance can often lead to a very rewarding career with plenty of exciting career opportunities. These careers can involve all types of work environments – from working for a corporation to being fully self employed.

Some of the best MBA in finance careers include these:

#1 Chief Financial Officer

A corporation’s chief financial officer is responsible for the financial well being of the company. He or she provides financial projections and accounting services for the company, prepares growth plans and directs managers to achieve optimal financial results.

The CFO also must direct the fiscal functions of the company according to accepted accounting standards that are established by the SEC as well as the Financial Accounting Standards Board.

As the CFO, you also will oversee the controller of the company, as well as indirectly supervise all employees and activities in the accounting and finance departments. With an MBA in finance, you will find yourself in a good position to eventually become a CFO.

If your career goal is to become a CFO, experts recommend these tips:

  • Develop strong interpersonal skills. You need to be able to work well with the CEO and managers in the company. Also, you must be able to work well with outside stakeholders, including bankers and executives in other companies.
  • Form strong relationships with people in other company departments.
  • Know your limits. To succeed as a CFO, you have to have good accounting skills, and top notch communication and presentation chops. Most people can’t do everything equally well, so you need to have a good team of people to rely on who can help you do everything well in a CFO’s role.

#2 Financial Analyst

As a financial analyst, you will help your clients or company by recommending when they buy and sell investments, and help them to stay current on the latest economic trends and business news.

Financial analysts also write detailed financial reports that explain their analysis of a given business situation. Many financial analysts also must share their financial expertise with other people in the company who are not financial experts. Therefore, excellent communication skills are essential.

With an MBA in finance, you can work as a financial analyst in either financial services or possibly the insurance industry.

US News and World Report states that financial analyst positions are on the upswing, with 12% increase in demand by 2024.

#3 Finance Manager

Financial managers oversee all of the financial activities and transactions of a corporation. They manage the cash of the company and its investment activities, as well as create effective financial procedures.

With a finance MBA, you also will oversee the budgeting process for the company and help the corporation to meet critical finance objectives. Financial managers also may work on raising capital, working on making mergers and acquisitions go smoothly, and managing global financial transactions.

Financial managers face a competitive job market, but an MBA holder with a specialized background in finance or accounting will have an advantage.

#4 Management Consultant

A management consultant offers highly focused direction to companies so that they can stay competitive and relevant. Most management consultants have an MBA, and a finance background will be of great value to many companies in the lending and finance space.

These consultants help companies to solve complicated management problems. And with a finance background, you can show companies how to keep costs in check, increase profits and increase proficiency.

Also, management consultants help corporations to adjust to new state and federal regulations, and to improve upon or launch an online business presence. You also may provide important business advice to CEOs and COOs.

To build a successful management consulting business, you need to be able to exploit the knowledge gaps of companies. Companies hire management consultants because they have a problem or challenge that their in-house staff cannot address.

#5 Investment Banker

Investment bankers assist companies to raise money in the equity and debt markets, and provide strategic advice about mergers and acquisitions. Being an investment banker means that you are staying on top of the international financial markets, so this can be a 24/7 job.

Investment banking is not really one specific job; it is rather a general term for many different activities, including underwriting, selling and trading financial securities, and providing financial advisory services. As an investment banker, you could provide these financial services to companies, government agencies, nonprofits and even individuals.

If you are interested in this career with your MBA in finance, you should make it your business to follow the world financial markets closely. Investment banking is a competitive field, and you need to be well read on world markets and global finance to get your foot in the door, and to succeed.

#6 Financial Advisor

A financial advisor offers financial advice and guidance to his clients for pay. Financial advisors may provide many types of financial-related services such as investment management, preparing income tax documents and long term estate planning.

Top level financial advisors need to be well educated, experienced, and serve the interests of their clients, not the interests of a financial institution.

People who are looking for a financial advisor will probably want someone with an MBA in finance or a related field. Also, many people expect their financial advisor to be a certified financial planner, or CFP.

Becoming a CFP requires you to take classes in financial planning and to take regular continuing education classes, too. A CFP has to pass a difficult test that is administered by the Certified Financial Planner Board of Standards. If you have your CFP, this is seen as a good sign that you will offer excellent financial advice.

Your MBA in finance will provide you with numerous exciting and financially rewarding job opportunities. You just need to do your research and to decide which career path holds the most interest for you.