If you’re currently considering enrolling in a master’s in finance degree program, you’re probably interested in learning what career prospects will be open to you. Graduates who hold master’s in finance degrees are in-demand in today’s business world, particularly among employers seeking candidates with more specialized skills than the broader MBA degree. As financial specialists, they can hold a number of different job titles and work in different occupations. Students who earn a master’s degree in the field of finance find work in settings that range from commercial banks to consulting companies and investment banks to accounting firms, according to U.S. News & World Report.
Financial analysts research and assess investment opportunities to help companies make decisions about buying and selling stocks, bonds and other types of investments. These professionals look at factors like changes in market conditions, historical and economic trends and the financial records of the businesses they’re considering investing in to determine how to best invest their business’s finances. While a bachelor’s degree is sufficient to obtain some financial analyst roles, many employers look for candidates with a master’s degree in finance, the United States Bureau of Labor Statistics (BLS) reported. Financial analysts earn a median salary of $80,310 per year and are currently enjoy faster than average job growth, according to the BLS.
A financial manager is responsible for the overall financial health of a business. This type of finance specialist must monitor and report on the company’s finances. Financial managers prepare various kinds of financial reports, including statements, forecasts and business activity reports, each for different purposes. They determine how their companies will reach long-term goals. In addition to producing financial reports, they use this data to find methods of reducing costs and increasing profits. In addition to managing the company’s finances, they also manage the employees who are involved in financial reporting and budgeting roles. Financial managers hold job titles such as chief financial officer, controller, treasurer, and finance officer. Financial managers earn a median salary of $117,990 per year, the BLS reported.
Personal Financial Advisor
Not every finance specialist focuses on a company’s finances. Some instead work to help people make the best financial decisions about saving and investing their personal funds. A personal financial advisor helps clients meet financial goals like buying a home and saving for retirement and their children’s college education. These professionals advise their clients on what investments they should make, what forms of insurance they should purchase and how to plan their estates or reduce their tax burdens. They educate clients on financial options and help them choose the best strategies to reach their individual financial goals. Personal financial advisors are in high demand right now. The BLS predicts job opportunities for these professionals to grow by a shocking 30 percent over just a decade – about three times the job growth expected for all occupations. The median annual wage for personal financial advisors is $89,160.
Earning a master’s in finance degree can open new and lucrative doors in the business world. Finance occupations pay substantially higher than the median annual salary for all occupations. Some roles routinely pull in six-figure salaries throughout their careers. In fact, candidates with a master’s in finance degree have an average mid-career annual salary of more than $110,000, Forbes reported. With many finance opportunities seeing a surge of job growth, there are plenty of reasons to consider pursuing a graduate degree in finance.