Earning an online MBA in finance can open numerous doors in your career. Online degrees are delivered through convenient prerecorded lectures and asynchronous class formats, and many are designed to accommodate the busy schedules of working professionals. Our guide below introduces some of what you can expect during an MBA in finance, as well as possible career options for graduates.
What Is an MBA in Finance? FAQs
Every organization -- whether it's a for-profit company or a nonprofit -- needs educated professionals who can implement financial best practices. An MBA in finance can prepare learners for top-level executive positions or other high-level roles in nearly any organization.
What is an MBA in finance?
This broad degree prepares graduates for a career in just about any type of organization. Individuals may also venture into entrepreneurship and become their own boss.
What do students learn in a finance MBA?
Students explore ways for successful companies to maintain financial health and implement best financial practices their organizations. Coursework also prepares learners to manage accounting and develop creative ways to generate more revenue.
How does it differ from a Master of Science in finance?
A master of science in finance and an MBA in finance are very similar degrees, but there is one notable difference. A traditional MBA is a practical degree that usually prepares learners to work in the professional world. Conversely, a master's of science typically prepares graduates for careers in academics, such as a professor or instructor.
What is the reason for choosing the MBA in finance over the MS in finance?
This depends on your career goals. If you wish to work in higher education, then an MS in finance may be the appropriate path. However, if you plan to work for a corporation or nonprofit, you may benefit from an MBA in finance.
Why Should You Get an Online MBA in Finance?
While a master's degree can lead to numerous career and financial benefits, a traditional brick-and-mortar education may not be the best option for every student. An online degree may appeal to busy working professionals who have demanding careers or other personal responsibilities that prevent them from regular attendance on campus. Online learners can complete coursework when it fits their schedule, and may often continue working full-time while they earn their degree. Additionally, online learning gives students more options for programs, as students may attend a university several states away that would otherwise be unattainable.
The Bureau of Labor Statistics projects average or faster-than-average growth for several careers in finances. This includes careers such as personal financial advisors and financial managers, but there are many fast-growing jobs. With such a high growth rate for jobs in this field, pursuing your online MBA in finance can provide job security and lucrative salaries.
Online learners can complete coursework when it fits their schedule, and may often continue working full-time while they earn their degree.
Earning an MBA in finance is a major way that job applicants can stand-out to potential employers. With an advanced degree and relevant experience, job candidates have a greater chance of receiving high paying jobs. According to O Net Online, 50% of financial managers only have a bachelor's degree, which means a master's degree can help financial managers advance in their career.
Finance careers involve multiple skills; however, and many graduates hold careers in positions of leadership. A master's degree in finance gives students relevant leadership skills to prepare them to lead a finance team. Receiving an MBA in finance online is a worthwhile investment, especially with given its convenience and flexibility.