{"id":952,"date":"2022-03-28T21:16:40","date_gmt":"2022-03-28T21:16:40","guid":{"rendered":"https:\/\/www.onlinemba.com\/?p=952"},"modified":"2022-10-14T17:19:40","modified_gmt":"2022-10-14T17:19:40","slug":"concentrations-finance-mba-careers","status":"publish","type":"post","link":"https:\/\/www.onlinemba.com\/mba-careers\/finance\/","title":{"rendered":"MBA in Finance: Salary and Career Options"},"content":{"rendered":"

Professionals with an MBA in finance can advance their careers and increase their salary potential. They can also secure high-level jobs as senior financial analysts or chief financial officers.<\/p>\r\n

MBA graduates earn $27,980 more on average than those with business administration degrees, according to the National Association of Colleges and Employers' 2021 Salary Survey<\/a>.<\/p>\r\n

Read on to explore salaries and careers for MBA graduates with a concentration in finance.<\/p>\r\nMBA graduates earn $27,980 more on average than those with business administration degrees, according to the National Association of Colleges and Employers' 2021 Salary Survey.<\/sonic-pullquote>\r\n\r\n\r\n\r\n

What Is an MBA With a Concentration in Finance?<\/h2>\r\n

An MBA with a concentration in finance blends business concepts with financial skills. Graduates assist companies with managing and analyzing their finances. Courses may include managerial accounting, business planning, and investment banking.<\/p>\r\n

A finance MBA best suits professionals interested in corporate budgeting and planning. Students might also seek careers in investments<\/a>, microeconomics, or risk management. Companies hiring experienced finance professionals may prefer MBA-holders with a finance concentration.<\/p>\r\n

This degree prepares graduates for advanced financial careers with higher salaries. For example, a financial manager can transition to a chief financial officer<\/a> (CFO). PayScale data from January 2022<\/a> lists the average annual salary for CFOs as $138,510.<\/p>\r\n\r\n\n

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\n Explore finance MBA options<\/span>\n <\/div>\n <\/sonic-icon>\n <\/span>\n <\/span>\n <\/a>\n<\/div>\n\n\n\r\n\r\n\n \n \n <\/a>\n\n \r\n

MBA in Finance Salary Outlook<\/h2>\r\n

MBA in finance salaries vary by position and experience level. Entry-level jobs tend to pay less than mid- and late-career roles. Likewise, non-management positions typically pay less than executive positions.<\/p>\r\n

The table below lists several MBA in finance careers and their salaries based on experience level.<\/p>\r\n\r\n

Annual Salaries by Experience for Finance Careers, Jan. 2022<\/strong><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
MBA Finance Career<\/th>\r\nEarly Career (1-4 years)<\/th>\r\nMidcareer (5-9 years)<\/th>\r\nExperienced (10-19 years)<\/th>\r\nLate Career (20+ years)<\/th>\r\n<\/tr>\r\n<\/thead>\r\n
Chief Financial Officer<\/td>\r\n$101,950<\/td>\r\n$119,170<\/td>\r\n$143,130<\/td>\r\n$151,240<\/td>\r\n<\/tr>\r\n
Investment Banker<\/td>\r\n$96,520<\/td>\r\n$121,980<\/td>\r\n$150,430<\/td>\r\n$150,000<\/td>\r\n<\/tr>\r\n
Financial Manager<\/td>\r\n$65,880<\/td>\r\n$80,290<\/td>\r\n$78,880<\/td>\r\n$78,970<\/td>\r\n<\/tr>\r\n
Financial Analyst<\/td>\r\n$61,670<\/td>\r\n$70,080<\/td>\r\n$73,350<\/td>\r\n$75,590<\/td>\r\n<\/tr>\r\n
Budget Analyst<\/td>\r\n$57,790<\/td>\r\n$66,650<\/td>\r\n$71,790<\/td>\r\n$74,260<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

Source: PayScale<\/a>, January 2022<\/p>\r\n\r\n

The Bureau of Labor Statistics (BLS) shows financial managers earning a median annual salary of $134,180<\/a>. This exceeds the national median salary by $92,230.<\/p>\r\n

Location can influence finance salaries. For example, New York, New Jersey, and the District of Columbia ranked among the highest-paying states for financial managers as of May 2020. Idaho and Mississippi paid the lowest average wages. Four metropolitan areas, including San Francisco-Oakland-Hayward, California; and Bridgeport-Stamford-Norwalk, Connecticut, paid average annual salaries exceeding $190,000.<\/p>\r\n

Finance salaries may also vary by industry. The securities, commodity contracts, and other financial investment activities industry was the highest-paying finance industry in May 2020. This industry offered an average annual salary of $206,050. Credit intermediation careers paid a lower average annual salary of $124,040.<\/p>\r\n\r\n

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Online MBA Programs for You<\/h2>\n

Grow your career, leadership, and business acumen with an accredited online MBA program.<\/p>\n <\/sonic-editorial-listings>\n<\/div>\r\n\r\n\n \n \n <\/a>\n\n \r\n\r\n

Careers in Finance<\/h2>\r\n

MBA in finance students learn about advanced financial concepts and business strategies. The curriculum prepares students to oversee and manage a company's financial plan.<\/p>\r\n

Unlike a bachelor's degree, an MBA in finance prioritizes leadership and analytical skills, which financial executives need to guide successful businesses. This degree can help entry-level professionals advance to higher-tier positions within a company.<\/p>\r\n

MBA graduates can apply learned concepts and skills to several industries beyond finance. For example, healthcare systems use finance managers, analysts, and consultants for reporting and budgeting. Other relevant sectors include government, manufacturing, and technical services.<\/p>\r\n\r\n \n

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Popular Careers for MBA in Finance Graduates<\/h2>\n \n

Graduates can choose from several MBA finance careers based on their skills and interests. We've noted some of the most popular career paths for MBA in finance graduates below.<\/p>\n <\/div>\n \n

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\n \"Budget\n
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Budget Analyst<\/h4>\n

Budget analysts<\/a> prepare, track, and manage finances for organizations. These professionals analyze financial trends to predict future needs. They also suggest funding and spending opportunities.<\/p>\n

\n \n Learn More\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n\r\n
\n \"Chief\n
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Chief Financial Officer<\/h4>\n

A CFO leads a company's financial strategy and oversees financial departments. The CFO's responsibilities make this one of the highest-paying financial careers for executives.<\/p>\n

\n \n Learn More\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n\r\n
\n \"Financial\n
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Financial Analyst<\/h4>\n

Financial analysts consult with organizations on spending, budgeting, and investing. They also determine a company's value and compare its strategies to general business finance trends.<\/p>\n

\n \n Learn More\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n\r\n
\n \"Financial\n
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Financial Manager<\/h4>\n

Financial managers support a company's financial strategy by supervising its accounting, budgeting, and investment teams. Some financial managers work in specific departments, like risk or credit management.<\/p>\n

\n \n Learn More\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n\r\n
\n \"Investment\n
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Investment Banker<\/h4>\n

Investment bankers locate funders and investment opportunities for new or growing businesses. Some responsibilities include conducting financial assessments, negotiating contracts, and selling financial products.<\/p>\n

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Additional Finance Careers<\/h3>\r\n