Careers in finance are well-known for their healthy salaries and clear routes of career progression. And with those holding advanced finance qualifications commanding the highest of these salaries, it is no wonder that an MBA in finance is such a popular qualification. But what are the job opportunities after MBA in finance.
In this article, we will tell you everything you need to know about achieving an MBA in finance, including the career opportunities that will be available to your after obtaining your qualification.
What doors will be opened after an MBA in finance
Completing an MBA in finance can help you to secure a higher salary, as well as opening doors to more senior roles in the finance sector. For example, an MBA in finance could help you to secure a position as a Financial Analyst, a Risk Manager or even a Chief Financial Officer (CFO).
Read on to learn more about the roles that an MBA in finance could lead to.
What is an MBA?
The Master’s degree in Business Administration, often shortened to MBA, is a postgraduate qualification that equips graduates to work in management roles in any business. If you choose to specialise in finance during your MBA, you will study the planning, organisation and control of a business’ financial resources.
MBA degrees focus on interdisciplinary teaching, meaning that graduates are exposed to principles and best practices across management, accounting and marketing. Within the expertise of finance, you’ll focus on compliance, accounting, budgeting, investment and banking.
By studying an MBA in finance, graduates will become qualified to perform advanced financial statement analysis, as well as making recommendations to company executives. This allows finance MBA graduates to secure senior positions in diverse fields such as financial analysis, management and consulting.
What does an MBA in finance involve
An MBA can take between 12 and 24 months to complete, depending on the course that you choose. You can also choose to take the course on a part-time basis over a longer period of time.
Modules within a finance MBA course may include:
- Financial management and control
- Strategic management
- International finance and investments
- Integrated communications
- Leadership development
- Value creation in organisations
The teaching involved in this course is designed to help students develop analytical thinking skills, as well as understanding the processes involved in making managerial decisions and managing risks.
Who studies an MBA in finance
An MBA in finance will be of interest to anyone that wishes to secure a senior position within the finance sector. The main candidates for a finance MBA are typically graduates who have experience in the financial sector or who are considering a career in banking or financial services, and finance professionals such as accountants who are looking to progress into management roles.
An MBA in finance is seen as a prestigious qualification that will open doors for anyone that aspires to progress into management roles within the financial sector.
Careers after MBA in finance
An MBA in finance can lead to a wide range of senior roles within the financial sector, including financial managers, treasurers and even a Chief Financial Officer (CFO). Here are just a few of the job roles that an MBA in finance could lead to.
1. Budget Analyst
Budget Analysts assist organisations in allocating their financial resources by creating and monitoring budgets. They are responsible for monitoring spending and estimating future spending requirements to ensure that the business remains profitable.
Senior managers often rely on Budget Analysts to supply them with the information that they need to make informed financial decisions regarding the business.
Average salary: £44,063
2. Financial Analyst
Financial Analysts are responsible for analysing financial data to identify business opportunities and to make investment recommendations. They may be responsible for a range of financial tasks, including collecting operational data, financial modelling, developing investment theses and presenting opportunities to management.
This is a role that sits at the heart of the organisation, ensuring that the business remains profitable whilst identifying opportunities to further increase the profitability of the business.
Average salary: £44,780
3. Financial Manager
Financial Managers help to bridge the gap between the finance team and the senior leadership team of an organisation. Their main responsibility is to implement high-level financial policies and ensure that they are aligned to business goals.
Other responsibilities of a Financial Manager include reviewing financial reports from analysts, overseeing cash flow within the organisation, preparing legally mandated reports and liaising between senior management and the financial team.
Average salary: £52,129
4. Chief Financial Officer (CFO)
One of the most senior financial roles is that of Chief Finance Officer, often abbreviated to CFO. This job role typically reports directly to the CEO and board of directors of the company and have the final say when it comes to the financial policies of the business.
The CFO of a business will be involved in funding opportunities, the acquisition of other companies, managing retirement funds and benefits and corporate restructuring. They will also have responsibility for developing and delivering financial strategies and for maximising returns on invested funds.
Average salary: £123,969
5. Accounting Manager
The Accounting Manager of a business helps to bridge the gap between the accounting department and high-level management, ensuring that the operation of the department aligns to the organisational goals. Accounting Managers need to have an in-depth understanding of not only accounting principles, but also the management of the organisation.
The role of the Accounting Manager will include monitoring the day to day operation of the accounting department, preparing financial statements and documents and ensuring that the operation of the department aligns with the wider organisational goals.
Average salary: £49,312
6. Risk Manager
The Risk Manager of an organisation is responsible for identifying potential for loss and recommending and implementing preventative measures to minimise costs and damages should the loss occur. This may include putting measures in place to prevent the loss or purchasing insurance to cover the loss should it occur.
A Risk Manager will be responsible for identifying exposures, helping to prevent loss, purchasing insurance, preparing loss analyses and budgets, managing relationships with insurers and brokers and managing claims in the case of losses.
As a Risk Manager, you may be employed directly by a large organisation, or choose to work independently as a consultant to provide risk management services to businesses.
Average salary: £67,340
Treasurers are responsible for supervising cash management, as well as overseeing the company’s budget and investments. They will also work to minimise financial risk to the company whilst promoting the growth of the business.
The role of a Treasurer includes overseeing accounts and budgets, presenting financial statements to the directors, financial planning and reporting, keeping accurate records and controlling fixed assets and stock.
Average salary: £60,953
What if you change your mind about working in finance
Even if you decide after completing your MBA in finance that it isn’t the field for you, you will still have a wide range of career opportunities at your fingertips. This is because an MBA in finance gives you an in-depth understanding of business management, including business strategy, marketing and finance.
If you decide that finance is not the sector for you, there are a range of career options available to you, including:
- Management Consultant
- Trader / Stockbroker
- External Auditor
- Business Development Manager
- Procurement Manager
The wide range of careers outside of the finance industry that an MBA in finance can lead to demonstrates the flexibility and versatility of this qualification, as well as its prestigious standing in the world of business.
Is it worth doing an MBA in finance
If you are looking to progress into a senior role within the financial sector, it may be worth considering completing an MBA in finance. This is one of the most prestigious financial qualifications that can be taken, opening doors to a wide range of roles, including the most senior role of Chief Financial Officer.
An MBA in finance will also give you an interdisciplinary understanding of business management, giving you a great standing from which to move into a range of areas within a business, if you later decide that finance is not the industry for you.
What are the highest paid jobs after MBA in finance
One of the highest paid jobs in finance is the role of Chief Financial Officer, often abbreviated to CFO. This role involves overseeing the finances of a business, including having the final say when it comes to the overall financial strategy of a business. This role attracts a six-figure salary, along with a high level of responsibility. The role of CFO can usually be attained by completing an MBA in finance, along with gaining a wealth of experience in finance roles.
How to get a job after MBA in finance
Graduates with an MBA in finance will have a wealth of career opportunities at their fingertips, whether they are looking for a career as a Financial Analyst, a Risk Manager or even a Chief Financial Officer. The most important thing is to ensure that you have a comprehensive CV that shows off your skills, qualifications and experience.
If you are looking for a senior finance role, such as a Finance Manager or Chief Financial Officer, you may need to build up experience in more junior positions at the same time as completing your MBA in finance. This will give you the experience that you need to secure a senior role in finance.
Are finance jobs in demand
The demand for high-quality candidates in the finance sector is high, with many businesses struggling to recruit finance and accountancy candidates. These skills shortages are causing a challenge for many employers, but this is positive for professionals who are looking to progress their career in finance and increase their earning potential. By obtaining an MBA in finance, you’ll become highly employable with a wide range of companies in the finance sector.
Planning your career after MBA in finance
An MBA in finance is a popular qualification, thanks to the vast range of opportunities that it can lead to. Graduates can enjoy a higher salary, along with the opportunity to progress into more senior roles within the finance sector. There is no wonder that there is so much demand for an MBA in finance.
By completing an MBA in finance, you could find yourself working in positions such as Financial Manager, Risk Manager or even Chief Financial Officer. Even if you go on to decide that finance is not the field for you, the interdisciplinary approach to the finance MBA will mean that you will find yourself highly employable, whatever career you decide to pursue.