Learn about earning either a Master of Finance or a Master of Business Administration with a concentration in finance to advance your financial career.
A master鈥檚 in finance is a graduate-level degree that includes theoretical and practical coursework in business, finance, and economics. When you鈥檙e interested in building a lucrative financial career, earning a master鈥檚 degree can be an excellent choice. It also helps you advance your understanding of corporate financial practices and expertise. In turn, it may elevate your career prospects.聽
At the graduate level, you have two primary options: a Master in Finance (MSc Finance) or a Master of Business Administration (MBA) with a specialisation in finance. Each degree type has a different structure, and the one you choose will depend on your experience and career goals.聽
Explore master鈥檚 in finance degrees in more detail, including how the two compare and what you鈥檒l learn in each type of program, to decide on the path that鈥檚 right for you.聽
Generally speaking, financial professionals who want to further their financial knowledge and technical skills in a shorter period often choose a Master of Finance degree program. On the other hand, an MBA in finance suits students who want to gain broad business knowledge whilst focusing a significant portion of their coursework on finance.聽
Most MSc finance programmes take two years to complete. Some programmes may require you to have a certain amount of work experience to qualify for MSc finance. A growing number of online master鈥檚 in finance programs also exist, which you鈥檒l appreciate if you work full-time and prefer greater flexibility to complete your education.聽
In a Master of Finance program, you鈥檒l explore the subject theoretically and practically to strengthen essential skills to perform tasks such as modelling. You can expect to deepen your knowledge of economics, statistics, ethics, and data, amongst other topics. Your courses may include:
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Risk management
Investment analysis
Financial modelling
Financial reporting
Quantitative methods
Financial regulations聽
Statistics
These versatile degrees can help you enter various career fields and high-paying jobs, including wealth management advisor, actuary, financial analyst, or chief financial officer. It can also help open the door to various professional paths, from working in corporate finance or commercial banking to becoming an entrepreneur or founding a start-up.
You may have the option of choosing electives based on an area of finance that interests you. In such cases, after completing the outlined coursework, you can select an aspect of finance you want to learn more about. You may choose a specialisation based on your career goals. Your options may include:
Corporate finance
Financial technology (FinTech)
International finance
Venture capital
Mergers and acquisitions聽
Bank management
Financial econometrics聽
Business law and ethics聽
Finance is one of the top five MBA concentrations. Whilst students do not have to pursue a career at a financial institution, many graduates work at investment banks, asset management firms, consulting firms, and brokerages.
Unlike the MSc Finance, you won鈥檛 have the option of choosing a niche financial specialisation because your concentration will count as such. Traditional MBA degrees take around two years to complete, and programs typically expect students to attend full-time. However, part-time or online MBAs allow students to keep working whilst earning their degree.聽
The courses you complete as part of your MBA will combine foundational business classes with electives that focus on finance.聽
Examples of general business courses:聽
Foundations of leadership
Business strategy
Managerial accounting
Operations management
Corporate finance
Cultural psychology
Business ethics
Examples of MBA in finance courses:聽
Financial strategy
Entrepreneurial finance聽
Global economics
Corporate valuation
Investment banking
Mergers and acquisitions聽
The best master鈥檚 in finance programme is the one that best meets your needs and aligns with your goals. Each programme has a slightly different focus. To make sure you pick the best master鈥檚 in finance programme, consider what you want to learn by enrolling in a master鈥檚 programme and what you hope to do after graduating.聽
If you have no financial experience but desire a financial career, an MBA may be the best option since an MSc Finance degree will likely require previous training or experience. If you鈥檙e a financial professional who wants to accelerate your career, an MSc in Finance may be the stronger option, given your ultimate goals.聽
Regarding careers, you can pursue many similar senior or managerial financial roles with both degrees. Still, you may broaden your career prospects with an MBA because of its foundational business curriculum. Graduating from either programme could lead to high-paying positions, with your earnings mainly depending on your position, company, and location.聽
Earning a master鈥檚 in finance can lead to strong career prospects, with job opportunities in several industries, such as government, manufacturing, and tech. The roles you can pursue after earning a master鈥檚 degree in finance will vary, including the following opportunities.
Job title | Median base Indian salary* |
---|---|
Financial advisor | 鈧5,10,000 |
Financial analyst | 鈧6,80,000 |
Business controller | 鈧14,33,000 |
Investment banking analyst | 鈧13,00,000 |
Financial manager | 鈧13,50,000 |
Chief financial officer | 鈧39,00,000 |
Risk analyst | 鈧7,61,000 |
Wealth manager | 鈧8,00,000 |
*All median base salary data sourced from Glassdoor as of October 2024 and does not include additional pay, such as commission and benefits.
Start working toward a master鈥檚 degree on your path to a rewarding career in finance. Earn your Master of Business Administration from the renowned Gies College of Business at the University of Illinois Champaign-Urbana on 糖心vlog官网观看. The programme offers several concentrations, such as financial management and managerial economics, and you can even 鈥渢ry before you buy鈥 by completing a graduate certificate from the school first.聽
If a shorter programme better suits your needs, Gies College of Business also offers a one-year Master of Science in Management, which includes financial and accounting courses.聽
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This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.