10 Jobs You Can Get With an MBA in Finance (With Salaries)
A Master of Business Administration (MBA) is a professional degree that prepares you for a career managing businesses. If you want to improve your financial literacy and management skills, you can consider this degree and specialize in finance. Understanding what an MBA with a finance specialization entails and the jobs you can get afterward can direct your next career steps. In this article, we discuss why you might consider an MBA in finance, highlight 10 jobs to explore after graduate school, outline how to get a finance job with your degree, and answer frequently asked questions about MBA programs.
Why consider an MBA in finance?
You can earn an MBA in finance to gain more insights into managing businesses and finances. Completing these programs can also qualify you for senior- and mid-level job opportunities in banking, investment, and financial analysis. If you currently work in finance, you can pursue an MBA to receive a promotion or raise. Evaluating your long-term career goals can help you decide whether earning this degree can help you achieve them.
Related: A Guide to Finance Careers
How to get a finance job after your MBA
You can follow these steps to secure a finance job after graduate school:
1. Gain relevant experience
Along with your degree, professional experience in finance can help you get the job you want. You can consider entry-level roles or internships while in graduate school. Working for a nonprofit organization can also make you a more competitive candidate for finance jobs.
2. Conduct extensive research
You can look for a job by researching opportunities on job boards and professional networking websites. If you want to work in a specific company, you can also visit their websites and search for job opportunities. Building your network and establishing a mutually beneficial relationship with your contacts can encourage them to recommend you for unlisted job openings.
3. Creating a compelling resume
A resume is a document describing your financial literacy skills, experience, and credentials. Because this application document can leave a lasting impression on hiring managers, consider making yours persuasive and informative. You can create separate sections for your career summary, skills, education, and work history.
4. Prepare for your interview
An interview is typically the last stage of a hiring process. You can practise finance interview questions and show your enthusiasm for the job opportunity to convince hiring managers that you're a suitable candidate. Following up after the interview by sending a thank-you note to hiring managers can also help with your application.
10 finance jobs you can get with an MBA
The following list includes jobs for MBA graduates with a specialization in finance:
National average salary: $91,771 per year
Primary duties: A financial manager oversees an organization's financial activities to help ensure profitability. They monitor cash flows, manage expenses, and produce accurate financial reports. Financial managers may also be responsible for a specific operation, such as credit or risk management. Their role involves creating budgets, making financial forecasts, and directing investments.
National average salary: $76,152 per year
Primary duties: An investment manager develops strategies for handling investment portfolios. They typically work with clients or organizations to buy and sell securities, settle transactions, and measure financial performances. They also evaluate economic risks, prepare investment reports, and change investments based on profitability. In large organizations, investment managers typically collaborate with asset managers, financial planners, and portfolio managers to ensure a positive return on investment (ROI).
National average salary: $52,189 per year
Primary duties: Investor relations managers handle communications between a company's management and its investors. They release investment reports, handle inquiries and meetings, provide feedback to management, and manage occasional conflicts. Through their work, investor relations managers help investors make informed decisions about their equity. Their role also involves tracking competition behaviour and investment portfolios.
4. Risk manager
National average salary: $79,520 per year
Primary duties: A risk manager, or risk assessment manager, determines the risks that can impact a company's financial operations, legal compliance, or reputation. They evaluate operational procedures and market trends to discover uncertain occurrences. Risk managers also create reports and communicate them to a company's management team. Working with an organization's general counsel, a risk manager may also review company contracts, proposed facilities, and insurance claims.
National average salary: $53,330 per year
Primary duties: A finance coordinator oversees an organization's financial transactions and records. Reporting to a finance manager, they implement financial procedures and ensure accurate accounting practices. Finance coordinators also define and analyze a project's budget to coordinate how the management team uses funds.
National average salary: $162,237 per year
Primary duties: An actuarial manager reviews the prices of insurance products. They examine a company's financial data, prepare financial reports, create presentations for upper management, and lead the reinsurance team. Actuarial managers also plan an asset's valuation and monitor existing financial products to ensure profitability. They typically collaborate with accounting and financial managers to complete their duties.
National average salary: $71,019 per year
Primary duties: A business manager oversees an organization or a department's operations. They help ensure a company remains productive and organized by implementing operational strategies, conducting performance reviews, and managing daily activities. Business managers also identify new opportunities to help a company grow and advance in its market. As managers and workplace leaders, they also hire, train, and motivate their team members.
National average salary: $128,626 per year
Primary duties: A chief financial officer (CFO) is the highest financial professional in an organization. They track cash flows, plan an organization's finances, and recommend strategic directions. Their daily responsibilities involve building financial models, analyzing and preparing financial statements, and reconciling a company's income and expenses. Multiple departments typically report to a CFO, including the accounting, human resources, and operations departments. Through their work, CFOs improve a company's financial performance, including its liquidity and return on investment.
National average salary: $140,595 per year
Primary duties: A vice president (VP) of finance helps ensure an organization's financial activities progress as planned. Reporting to a CFO, a VP of finance helps a company generate more revenue or find funding for major projects or campaigns. They often focus on daily business functions, including managing payroll systems and checking financial reports for accuracy. In large organizations, finance managers typically report to a VP of finance.
National average salary: $105,017 per year
Primary duties: A director of finance is responsible for an organization's financial, accounting, and auditing activities. They typically report to a CFO and develop plans to improve how a company manages financial statements and audit documentation. A director of finance often establishes profitability standards, budgets, and financial goals for a company. They discuss their financial findings with c-suite executives and act as intermediaries between shareholders and upper management.
FAQs about MBA programs in finance
Reviewing the following questions and answers can help you learn more about finance specializations in MBA programs:
What is the typical coursework for MBA programs?
While programs may vary, you can expect to take the following courses:
International finance: This course can help you learn about the monetary interactions between countries.
Financial markets and institutions: Taking this course can help you learn about trading securities in the stock, bond, or foreign exchange markets.
Advanced corporate finance: This course can offer extensive insights into how businesses fund operations to generate profits and manage their expenses.
Derivatives and risk management: Taking this course can help you learn how to handle situations when a transaction's actual gains differ from expected outcomes.
How long does it take to complete an MBA program?
An MBA typically takes two years of full-time study to complete. If you enroll in an accelerated or online program, you can earn your degree within a year. MBA programs typically involve coursework during the first year and practical projects toward the end.
Salary figures reflect data listed on Indeed Salaries at the time of writing. Salaries may vary depending on a hiring organization and a candidate's experience, academic background, and location.
Explore more articles
- What Is Multimedia Designing? (With Jobs List and Salaries)
- 9 Roles in the Digital Marketing Career Path (With Salaries)
- What Do Airplane Mechanics Do? (With Steps to Become One)
- 17 Popular Freelance Online Jobs (With Salaries and Tips)
- 15 Nursing Administration Jobs (With Duties and Salaries)
- Working as an Analytical Chemist: A Definitive Guide
- 14 Work-From-Home Companies That Hire Potential Candidates
- What Are the Differences Between a Midwife vs. Ob-Gyn?
- What Does a Front-end Developer Do? (With Average Salary)
- What Is Computer Security? (With Careers List and Salaries)
- What Do Electricians Do? Responsibilities and Salary
- What Does a Software Development Engineer in Test Do?