Is an MBA in Finance Right for You?

With the commitment of time and resources that graduate school requires, you may wonder if a Master of Business Administration (MBA) in Finance is your best choice. If you want to change your professional trajectory, however—to expand your options and improve your potential for advancement—an MBA with a concentration in Finance may be just what you need. This degree can prepare you for leadership roles in the finance industry, in areas ranging from corporate finance to global economics and beyond. Further, as an MBA, you are more likely to earn a six-figure salary than your peers with bachelor’s degrees alone.¹

So … is an MBA in Finance worth it? It’s true that business school calls for hard work, but the rewards can not only last a lifetime, but shape your lifetime. This post explores ways to determine if an MBA in Finance is right for you.

The curriculum for a strong MBA program with a concentration in Finance offers more financial and accounting courses than a general MBA program does. Along with an overview of broad business topics such as ethics, business communication, and analytical decision-making, you will delve into investments, financial engineering, and business valuation.

While concentrating on finance, you can round out your business education with courses in macroeconomics, global business, data science, and strategic talent management, among others. You’ll have opportunities for experiential learning, including case studies and internships, to expand and reinforce your business and interpersonal proficiency.

High-quality MBA in Finance programs help develop skills that clients, recruiters, and employers value. To start, you will gain a solid foundation in the principles of finance and economics.²

As you progress toward your degree, you will hone your leadership skills and abilities in problem-solving, teamwork, communication, and time management. Additionally, you'll develop analytical skills that will be crucial in helping you evaluate businesses throughout your career. Finally, you will learn financial modeling and valuation techniques that will help guide decision-making.

With an MBA in Finance, you’re not limited to becoming a financial planner or an accountant. The finance sector holds a wealth of career options for your future.

The corporate world offers multiple possibilities for finance MBAs. Among them are opportunities to work as a financial controller, planner, or analyst.

• Financial controllers lead the activities of the financial accounting department³
• Financial planners advise business and individual clients on how to plan for and achieve their financial goals
• Financial analysts advise individuals and businesses on investing to grow their wealth

Experience in each of these positions can help you advance to become chief financial officer (CFO)—the position in which you’ll oversee all financial aspects of a company.

If you’re interested in analysis and enjoy a job that handles some risk, you can choose a career path in investment banking. In this industry, you’ll help individuals and businesses create and grow their wealth through investment and risk management strategies.⁴ You’ll typically begin as an analyst and move up to a position as a vice president or managing director. You can also work in a senior-level advisory role and manage financial portfolios.

If investment banking appeals to you but you'd rather work with high-dollar clients, a career in asset management and private equity may be for you. Like investment banking, this career field involves helping people and businesses invest their money for maximum returns. However, private equity firms collect funds from high-net-worth clients and invest in other businesses.⁵

In asset management, you may also work with commodities such as gold and silver and other tangible assets. Private equity often offers a better work-life balance than investment banking and gives you a better chance to flex your negotiation muscles.

If the corporate lifestyle doesn’t appeal to you, or if you'd rather work for a variety of business clients, consider a career as a financial consultant or advisor. In this field, you can either work for a consulting firm or branch out on your own, helping clients with anything from risk management assessments to mergers and acquisitions.⁶ Alternately, if your interests include finance and law, consider becoming a forensic accountant—a career in which you’ll help law enforcement professionals connect the dots in financial crimes.

According to the U.S. Bureau of Labor Statistics, employment opportunities in finance are growing faster than in other career fields.⁷ The average salary for a person with an MBA in Finance varies based on position: Financial analysts make a median salary of $69,618, while CFOs can look to a median salary of $177,290.⁸ However, as a CFO for a lucrative company in a major city, you could expect a salary of over $500,000.⁹

Finance can be a lucrative field, and personally rewarding for people who are interested in investments and/or financial management, but it’s competitive. To be an ideal candidate for an MBA in Finance program, you need analytical skills, resilience, decisiveness, empathy, a strong head for detail, and the ability to thrive under pressure.¹⁰ In addition, your resume should show that you have excelled academically and gained professional work experience. You’ll bolster your candidacy with strong test scores, demonstrable emotional intelligence, and the ability to articulate your career goals clearly and specifically.

When pursuing an MBA, a bachelor’s degree in business from an accredited college or university is helpful. However, if you have one in an unrelated field, you can complete a few general business classes as prerequisites. Some business schools require high GMAT scores from their MBA candidates, while others accept practical experience in lieu of test scores.

If an MBA in Finance is the degree for you, start a conversation with the Leavey School of Business at Santa Clara University. Our Online MBA program with a concentration in Finance creates Silicon Valley Professionals: leaders equipped with the most current, relevant industry knowledge and empowered with the ethos for which Santa Clara University is acclaimed. You’ll become proficient in your targeted areas of interest through a robust curriculum, guided by SCU’s prestigious faculty of industry experts.

Expand your professional contacts as you collaborate with your cohort and form relationships with members of our worldwide network of alumni. Strike the perfect balance between your education and your professional life. The flexible online structure and frequent start dates accommodate the busy schedules of working professionals.

Don’t wait to redefine your career. Start by scheduling a call with an admissions outreach advisor today.