In the Forbes article “The 10 Most Under-Rated Reasons Why You Should Get an MBA” (November 13, 2012), Eric Jackson described one of the benefits to completing an MBA is it allows individuals to focus, and sometimes re-focus, on what they would like their career to evolve into. “The people who really go far in their business careers focus,” wrote Jackson. “…If you worked in manufacturing before and now you want to focus in on finance, you can do that. If you did accounting, but want to focus on private equity, you can do that do.”
In fact, often you can select a concentration within a Master of Business Administration program to help you focus, such as an MBA in Finance, in Entrepreneurship, Marketing, Healthcare Management, Business Management, Non-profit Management, Business Analysis, Operations and Technology, and other specialties.
“In most cases, an MBA degree is required for executive and senior management positions,” stated About.com’s Karen Schweitzer, an academic advisor to business students. “…People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them.” Specifically, an MBA in Finance can help pave the way to various prestigious roles, from a bank executive to an investment manager or a CFO.
A number of colleges and universities offer online MBA Finance programs, so you can pursue your studies at a convenient location and have a more flexible academic schedule.
Why Pursue an MBA in Finance?
If you already have a professional and educational background in finance, or another area of business, an MBA in Finance will facilitate the rise up the ladder to more executive or analytical positions or those that require more financial expertise and increased responsibility. The program is challenging, but this is a good thing, as it allows you to gain a deeper understanding of the financial world (both on a small and global scale) and also about effective leadership, strategizing, problem-solving, decision making and communication.
If you have no previous financial experience, it does not necessarily disqualify you from pursuing a Master of Business Administration. Depending on the school you apply to, you may just have to take some introductory business courses to help prepare you for the MBA.
Wondering why an MBA in Finance might be best for you, as opposed to another concentration? If you are intrigued with managing a client’s (be it a company’s, agency’s, organization’s or your own) capital in the most beneficial fashion possible, fascinated by the dynamic markets, keen to develop financial strategies and to analyze, inspired to develop long term financial plans, interested in researching various ways to invest…then an MBA in Finance may just be the specialization for you.
MBA in Finance Coursework
Generally speaking, a Master of Business Administration in Finance will include MBA core courses as well as courses specific to Finance.
MBA core courses may include accounting for managers, organizational behavior, economics for managers, marketing, operations management, statistics, business ethics, communications, IT for managers, business law, global business and economy, supply chain management, strategic management, entrepreneurship, economic development and/or other topics.
MBA Finance concentration courses may include advanced financial management, corporate financial management, investment management, financial markets, financial institutions, financial statement reporting, securities analysis, financial modeling, mergers and acquisitions, international finance, portfolio management, fixed income markets, corporate risk and insurance, financial theory and/or other subjects.
Additionally, often an MBA in Finance will include a practicum or internship to enable students to gain real-world professional experience.
What types of Jobs Can I get with an MBA in Finance?
Some examples of professions that MBA in Finance grads go on to pursue:
• Financial Analyst
• Risk and Insurance Manager
• Private Banker
• Investment Manager
• Banking Manager or Executive
• Investment Banker (from Associate to Partner or Director…)
• Credit Manager
• Money Manager
• Venture capitalist
• Financial consultant
• VP of Finance
• Treasurer or Financial Officer
• Chief Financial Officer (often good to have your CPA as well)
Profile: Gary Green
• Gary Green earned an MBA in Finance.
• He is the CEO of Alliance Building Services
• Alliance Building Services consists of four companies and is one of the most successful building service providers in the tri-state area. (It has a large clientele in metropolitan New York.)
• One of the four companies is called First Quality Management, which Green started in 1992 when he was 26 years old.
• Green formerly worked as an asset manager and broker within the real estate world.
• In June 2012, it was announced that Green became baseball team Omaha Storm Chasers’ new CEO and managing partner.