Graduating from an online Finance MBA program can lead to a new career and exponential future earnings. Finance MBAs are often MBAs that offer a specialization in Finance, and build on the core MBA curriculum (management, marketing, information technology, human resources and more) with focused financial and accounting knowledge (investing, portfolio management, forecasting, financial modeling, accountability, and much more) to prepare students for careers in financial analysis, accounting, consulting, or working in executive positions as a CFO, Financial Manager, Financial Service Sales and more. Earning a Finance MBA online makes keeping your current schedule easier, often costs less than traditional programs, and can put you in a great position to change your life and career without giving up the schedule and ongoing responsibilities that currently sustain it. If you know you want to pursue an Online Finance MBA, make sure to inspect our ranking of The 15 Best Online Finance MBAs. So what can you do with a Finance MBA? The short answer is make more money, work in exciting new positions and build a new professional network with likeminded peers. Let’s look at some of the outcomes of online MBA graduates.
Earnings of MBA Graduates
There are many variables that influence earnings of MBA’s. For example, California has the highest pay for MBA graduates of any state, and male graduates of MBA programs make more than women graduates do. Here’s a look at the best states to live in as an MBA graduate. In terms of careers, Human Resource MBA majors are on the lower end of the spectrum, while Strategy MBA majors are higher. Overall, we can glean some general information about MBA earnings from a PayScale survey of over 4,000 MBA holders. These graduates held MBAs in a variety of disciplines. The survey found just under 1.4 percent of participants had less than one year of work experience and an average salary of $51,396. Those with one to four years of experience, (approximately 22% of respondents), had an average salary of $60,541. Finally, the 33% of respondents who had 10 to 19 years of experience made an average salary of $98,800 annually. Clearly work experience is a big factor on MBA graduate earnings, which isn’t surprising. In many cases, an MBA enhances an existing career, and can lead to promotions, new responsibilities and higher earnings. It’s not uncommon for employers to at least partially sponsor an employees MBA education in the hopes of a mutually beneficial future together. Let’s look at some of the positions Finance MBA holders end up in.
Careers of Finance MBA Graduates
- Financial Analysts help people and businesses make business decisions. MBA’s are usually essential to these positions, although it’s common to earn a Chartered Financial Analysts (CFA) certification as well. In 2016, the median pay for this positions was $81,760, according to the Bureau of Labor Statistics, who also predicted an 11% growth in these positions between 2016-26 (approximately 32,100 positions).
- Risk and Insurance Managers mitigate and prevent the loss a company incurs and institute strategies that improve its performance. Payscale found that the median salary for these positions was $84,394 in 2017, and BLS predicted a 7% growth in these positions between 2014-24.
- Financial Managers supervise and work to improve the financial health of an organization. They write financial reports, direct investment, and strategize and execute to accomplish the financial goals of their employers.
- Securities, Commodities, and Financial Service Sales Agents pair buyers and sellers in financial markets, and sell securities to people and companies, help companies find investors, and participate in a variety of trading. BLS expects a 6% growth in these positions between 2016 and 2026, to the tune of 23,000 new jobs. In 2016, the median pay for these positions was $67,310.
Finance MBA Programs
Before you do anything with a Finance MBA, you have to earn one. Our top ranked online Finance MBA program is through the University of Maryland, which has been ranked highly by U.S. News and World Report, Financial Times and Bloomberg Businessweek, and allows students to earn their degrees in as little as 21 months while continuing to work in their current career. Another top program is offered by Northeastern University, which offers an MBA with a Finance specialty, and a dual program made up of a Master of Science in Finance and an MBA that can be completed in as few as two years. The University of North Carolina also offers a top ranked MBA program with a specialization in finance, which is known for its wide selection of electives and USNR’s recognition of the excellence of its online delivery. If you’re looking for an affordable online Finance MBA option, consider Florida International Universities’ program. This program offers students the opportunity to get up to $10,000 in scholarships for eligibile applicants. For a full look at the top online Finance MBA programs, make sure to go here.