You don’t need a degree in economics to see just how much the state of the economy affects our daily lives. The economy’s influence became especially clear during the global financial crisis in 2007-2008, when many lost not only their jobs but also their homes, and established corporations thought to be indestructible became insolvent.
As the global marketplace continues to expand and become more competitive, businesses are concentrating on hiring executives with the financial acumen to ensure their companies can withstand the vagaries of the economy. The finance industry, therefore, offers MBA graduates solid job prospects in an array of fields.
MBA With a Specialization in Finance: A Solid Future
When deciding what profession to pursue, employment prospects and pay rank among the top considerations for job seekers, and an MBA specialization in finance is promising on both counts.
According to the U.S. Bureau of Labor Statistics, some finance careers are experiencing phenomenal growth. For example, the financial management field is expected to add approximately seven percent more jobs between 2014 and 2024. In the same period, jobs in financial analysis and financial advising are likely to grow by 12 percent and 30 percent, respectively.
A 2016 study by the Graduate Management Admission Council found that 91 percent of corporate recruiters in the United States plan to hire recent MBA graduates. The study also reports that 34 percent plan on hiring MBAs with a Specialization in Finance.
Sangeet Chowfla, GMAC president and CEO, is enthusiastic about an MBA degree’s potential to help graduates find meaningful, stable employment: “The MBA, as an area of study valued by employers, is showing more strength than ever … students of any undergraduate background would do well to consider taking a graduate management degree because of the contributions it can make to their career aspirations.”
Public and private organizations will always be on the lookout for executives who have the skills and knowledge to help ensure their prosperity and financial viability. Companies want people in their top positions who can interpret the economy and ensure that a business is ready for whatever challenges an increasingly competitive — and unpredictable — global marketplace will bring.
A Remunerative Degree
Not only does an MBA with a Specialization in Finance help increase a candidate’s job prospects, research shows that MBA graduates can also expect above-average salaries.
U.S. News & World Report noted that graduates with an MBA Specialization in Finance can look forward to “greater financial rewards than graduates in other business specialties.” Midcareer professionals with an MBA in finance earn a median salary of $120,000 and go on to enjoy some of the highest estimated lifetime earnings of all MBA grads.
Of course, a high salary isn’t necessarily a predictor of job satisfaction. However, MBA graduates appear to be content with their career path — U.S. News notes that 70 percent reported high levels of job satisfaction.
MBAs with a Specialization in Finance also have a wide range of career opportunities to choose from. They can pursue satisfying careers in investment banking, insurance, mergers and acquisitions, securities and more.
Getting the Right MBA With a Specialization in Finance
Once you decide that an MBA specialization in finance is the right educational path for you, the next step is to make sure you choose the right school. For working professionals, an online MBA program often makes the most sense as it allows them to fit their coursework around the demands of their jobs and family life.
Florida International University’s prestigious online MBA program offers a variety of specializations. FIU’s MBA with a Specialization in Finance provides students with a strong academic foundation in the concepts, issues and policies pertinent to the financial industry. The rigorous curriculum includes courses that examine asset, liability and capital structure management. MBA candidates also learn about capital budgeting techniques, risk evaluation, capital management and the methods of financing.
In this MBA specialization at FIU, students take a course in commercial banking in which they explore the constraints and policies involved in the management of commercial banks. They also study asset and liability management, marketing and more. The MBA with a Specialization in Finance also features a course on financial markets and institutions that involves the analysis of various types of money market and capital market instruments and the role of financial institutions in such markets.
Whether you seek a fast-paced career in investment banking or employment in the field of securities, financial management or insurance, an MBA specialization in finance is one of the best ways to secure an array of exciting and lucrative job prospects.
Learn more about the FIU online MBA program.
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