Earning an online master’s degree in finance and analytics that delivers the latest data-driven, master’s-level skills—can lead to a successful career and a higher salary in the business world. According to the U.S. Bureau of Labor Statistics (BLS), “having a master’s degree in finance or business administration may improve an analyst’s chances of advancing to one of these positions.” A master's in finance can offer these additional benefits:
- No MBA needed
- Specialized, targeted financial analyst skills
- Niche job opportunities
- Less job market saturation
But what is the average master’s in finance salary and what kind of jobs are available to online finance program graduates?
Read on to learn more about the average salary for finance graduates who have earned a master's in finance and analytics and the rewarding job opportunities that are available to graduates who have received top-ranked Online Master’s in Finance and Analytics degrees from highly-respected online business schools.
What do finance and analytics professionals do?
If you're wondering what finance and analytics professionals do on a day-to-day basis, the answer is: lots of things!
The skills gained by master’s finance graduates open doors to challenging—yet rewarding—careers that require a deeper understanding of financial theory and the ability to crunch numbers quickly and accurately.
Generally speaking, finance professionals with advanced analytics skills use data to help businesses make better decisions.
While there is no one-size-fits-all answer, the roles of these professionals who are finance graduates usually involve utilizing data to make better business decisions. In the world of business and finance, this might mean analyzing financial statements and trends in order to identify opportunities and risks.
Looking more in-depth, financial analysts work with numbers and financial data to help organizations make sound financial decisions. They may work for banks, insurance companies, or other types of businesses.
Financial analytics professionals use specific software to examine past and current financial performance in order to predict future trends. This information can be used to advise clients on where to invest money, how much insurance coverage they need, or what loan terms are most favorable. In some cases, financial analysts may also be involved in providing strategic advice on mergers and acquisitions.
What jobs can I get with a master's in finance and analytics?
The finance job market is evolving. With corporations increasingly looking to financial leaders for guidance on long-term goals and revenue-generating opportunities, there are a number of in-demand positions available to you—especially if you have a master's degree or higher!
Therefore, when you consider which top financial jobs might command higher salaries in the industry, it is natural to look at financial sector jobs that leverage the latest tech and data skills when considering finance salary averages.
According to recent studies (Which may vary depending on your location and level of experience):
- The median salary for financial analysts is $95,570 per year
- The median annual wage for financial risk specialists was $100,000 in May 2021
- The U.S. Bureau of Labor Statistics (BLS) projects there will be roughly 32,000 openings for financial analysts each year, on average, over the decade
- BLS estimates “faster than average” growth of 9% per year for financial analyst positions, through 2031
There looks to be quite a positive finance salary outlook for those who can make themselves attractive candidates for hiring managers filling financial analytics jobs.
10 High-Paying Master’s in Finance and Analytics Jobs and Their Average Salaries
Which lucrative job titles are available to those finance graduates who have earned Online MSFAs from a reputable, accredited, and respected online finance program at a top business school?
Let’s examine 10 jobs that a master's degree in finance and analytics can help prepare you for, including their average annual salaries and the daily tasks required for these profitable positions.
Specific job titles that are great options to lead in the field and earn a higher average annual salary include:
- Financial Analyst
- Forensic Accountant
- Investment Banking Analyst
- Personal Financial Officer
- Portfolio Manager
- Corporate Controller
- Valuation Manager
- Chief Financial Officer (CFO)
- Vice President of Finance2
#1: Financial Analyst
Financial analysts are needed in every industry and at all levels. They work for finance companies, investment banks, or insurance agencies as well as stock brokerages; they analyze client data to determine financial risks and opportunities within their industries, the e-commerce industry included.
These professionals must also keep up to date with the latest financial trends so that companies know when new methods should be adopted and when old processes that are obsolete can be phased out.
National Average Salary: $71,365 per year2
#2: Forensic Accountant
Forensic accountants help identify criminal activity by analyzing financial information. Also known as investigative accountants, forensic accountants conduct audits on behalf of businesses/individuals looking into potential fraudulent activity. They can also provide expert witness services, helping detectives solve crimes faster than ever before by interpreting financial information quickly.
Forensic accountants may also calculate damages sustained in court cases, serve as expert witnesses, and provide consultation services to detectives or other entities involved with law enforcement activities such as investigating frauds against individuals or businesses.
National Average Salary: $80,480 per year2
#3: Investment Banking Analyst
Investment banking analysts are responsible for providing financial advice and servicing clients. They use their knowledge of the market to determine which opportunities will make investors the most money/return on investment, while also analyzing various transactions and making portfolio recommendations that suit individual goals and risk levels.
The investment banker's job is an exciting one filled with a high potential for success. These finance professionals research market outlooks extensively, looking into all aspects of the business industry. They are tasked with determining how certain trends might affect current economic conditions (e.g., inflation), and finding new avenues for profit even when there may be little or no growth within a client’s company.
National Average Salary: $88,197 per year2
#4: Personal Financial Officer
The financial needs of an individual often extend beyond their immediate horizon; personal finance officers, also known as personal finance advisors, help individual people take control of their money and achieve long-term success through smart investments and saving for retirement.
The personal finance officer is a “jack of all trades,” who helps you with everything from taxes and investments to insurance questions. They are there for the long-term goals as well, helping their clients pay off student debt or save money towards retirement so they can live comfortably in years ahead!
National Average Salary: $91,931 per year2
#5: Portfolio Manager
Portfolio managers are in charge of allocating investments among various funds and securities. They work closely with other analysts, researching companies and governments that issue shares throughout the world.
Working within a given client’s specified risk level, these professionals take into account market conditions to maximize an individual’s returns.
Those who manage portfolios for other people or organizations research stocks, bonds, and mutual funds as part of their role. They also have access (and sometimes full control) concerning all trades that go into their clients' investments. They can make final decisions about which security is best suited for given situations.
National Average Salary: $100,122 per year2
#6: Corporate Controller
Corporate controllers make sure all financial operations within a company are operating at an efficient level. They supervise payroll, the accounting department, and accountants to make certain nothing is left off the balance sheet.
Corporate controllers are also responsible for producing periodic reports for CEOs.These reports keep the CEO informed of the current state of the company.
Their professional duties include developing strategies that can help achieve short-term goals and long-term success as well as maintaining records that prevent/allow a certain amount of risk (as deemed appropriate under the direction of corporate counsels and/or other trusted parties).
National Average Salary: $115,057 per year2
Actuaries are vital to the financial well-being of any business; they manage financial risks for businesses. They design plans that protect companies from financial peril, help determine what types or amounts of insurance coverage are needed, and how much it will cost for those policies.
Actuaries are also expected to participate in developing strategies to assess different areas within their own company's operations where there may be certain investment risks involved. They work with banks and insurance companies to design plans that protect their company from loss.
National Average Salary: $116,436 per year2
#8: Valuation Manager
Valuation managers are responsible for ensuring that financial statements and property values reflect the true state of affairs of a business. They keep track of everyday operations, monitor department functions, and assist clients with their decisions related to audits or real estate appraisals.
A valuation manager's role includes overseeing all aspects of a business so they can provide accurate information on how the business should proceed and how these decisions will affect their company's bottom line—positively or negatively—over time. Valuation Managers provide companies with several different options to take action on, including the advantages/disadvantages of each.
National Average Salary: $131,747 per year2
#9: Chief Financial Officer (CFO)
The Chief Financial Officer (CFO) is the head of a company's finances and is tasked with ensuring that the company spends money wisely. A great CFO must be able to manage all aspects of the business from general tasks—such as accounting—to very important tasks including keeping regulatory compliance for financial reporting requirements, preparing reports on in-house activities, or hiring an outside firm for assistance if necessary.
As part of their jobs, CFOs present financial updates not only at annual meetings but also at any other time investors request such information, making sure that reports submitted by a company’s management teams match what has happened financially during a specific time period. CFOs must ensure their companies meet any legal requirements that have been established by regulations or legislation.
National Average Salary: $134,080 per year2
#10: Vice President of Finance
Vice presidents of finance are the brains behind any company's finances. They help make sure all investments and strategies going forward will be in line with the long-term goals of their company. It is crucial for these professionals to not only understand accounting but also investment risk.
Vice presidents of finance are responsible for keeping their company's financial records in order and making sure that future investments will be profitable. They also help develop business and financial strategies to help their companies better achieve long-term goals, e.g. increasing sales and/or cost-cutting.
Larger corporations may employ two VP of Finance positions: one person’s role is often titled Vice President/Executive Director; they primarily manage the finances around human resources. The other VP often holds responsibility over budgeting & forecasting activities.
National Average Salary: $163,940 per year2
What can I learn in a top online MSFA program?
For those looking to jumpstart a more rewarding career in finance, analytics, and business, adding a top-ranked Online MSFA to your resume is a smart decision. With the right degree from the right university, you could soon be on your way to an exciting career in finance or analytics!
Highly-ranked online master’s programs in finance and analytics can provide you with the skills and knowledge you need to excel in a competitive job market. giving you the skills and knowledge you need to succeed, in the following important areas:
- Financial analysis
- Investment banking
- Top data analytic tools and methods
This combination of high-level skills, experience, and knowledge at the advanced level can help you build a successful career in financial analytics, a growing field that shows tremendous job possibility, growth, and promise over the coming decade.
Earn a top Online MSFA at SCU Leavey School of Business
If you're excited about pursuing an online master's in finance and analytics to boost your career potential, SCU Leavey, is the perfect destination for your online education.
Based in the heart of Silicon Valley, SCU Leavey is uniquely positioned to help you find success in today’s analytics-driven finance landscape. SCU’s Online MSFA is ranked the #12 Best Online MBA Finance program, according to U.S. News and World Report. SCU Leavey business school has been ranked #1 for Academic Experience and #1 for Career Outcomes by Poets&Quants.
With its robust academics and Silicon Valley focus, SCU’s online master’s of finance and analytics prepares you to thrive in corporate finance settings and investment-focused organizations.
SCU Leavey School of Business is also nationally recognized for its strong faculty of experienced professionals, its forward-looking curriculum, its powerful Bronco network, and its outstanding career outcomes and academics.
The Online MS in Finance and Analytics from Santa Clara University’s Leavey School of Business is a great way to sharpen in-demand business skills and build a powerful Silicon Valley Network. Learn more about our world-class business faculty, and consider how their connections and accomplishments can be vital building blocks for your career.
For more information, schedule a call with an SCU admissions advisor.
- Retrieved on November 15, 2022, from www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-4
- Retrieved on November 15, 2022, from indeed.com/career-advice/finding-a-job/master-of-finance-job
- Retrieved on November 15, 2022, from www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-1
- Retrieved on November 15, 2022, from usnews.com/education/online-education/mba/online-finance-rankings
- Retrieved on November 15, 2022, from poetsandquants.com/2022/11/15/the-best-online-mba-programs-of-2023