Completing a Master of Business Administration (MBA) program demonstrates your advanced knowledge and abilities related to business operations and leadership. MBA graduates go on to a variety of high-level roles as individual contributors and business leaders, leveraging skills like analytical reasoning and strategic thinking to address emerging issues and seize valuable opportunities.
Incorporating a concentration into your chosen MBA program can distinguish you as an expert in your chosen field. By including specific elective courses alongside the foundational MBA curriculum, you can engage in more focused development that aligns with a specific career focus.
Professionals with an interest or existing career in the world of corporate finance can benefit from a targeted MBA program that includes a finance concentration. Building a deeper understanding of the tools and methodologies used in corporate finance, as well as advanced concepts such as portfolio management, can make graduates more attractive as candidates when competing for MBA finance jobs.
Keep reading to learn about potential finance careers for MBA graduates, including salary information and growth projections, as well as how completing Suffolk University’s MBA Online with a finance concentration can support effective career development and growth.
5 top MBA finance careers to consider
While there is a broad range of MBA finance careers to consider, the five on the following list offer an attractive combination of engaging duties, promising compensation, and either strong potential for future employment growth or a steady and significant number of current positions. As you consider possible professional paths, keep these options in mind.
1. Financial analyst
Financial analysts cultivate deep and broad knowledge of potential avenues for investment and profit, sharing this information with their employers or clients. These professionals review data, conduct in-depth analysis, chart trends, and closely monitor relevant markets to provide accurate and current advice and reporting.
In this role, career growth can stem from specializing in a sub-field such as a portfolio or risk management. It can also be achieved by taking on more senior-level positions. An MBA with a finance concentration can empower graduates with the skills and knowledge needed to capably serve in such roles.
For MBA finance careers, salary is a key consideration, and financial analysts have high earning potential. They earn a median annual salary of $83,660 per year, according to the U.S. Bureau of Labor Statistics (BLS). There are also plenty of opportunities for MBA graduates entering this field, as well as established professionals. The BLS anticipates that a total of 41,000 positions for financial analysts will become open annually through 2030.
2. Financial manager
Financial managers play a vital role in assembling information, defining trends, and identifying opportunities for the companies that employ them. They frequently supply guidance and analysis to their managers, directors, and other organizational leaders, up to and including the C-suite. To that end, financial managers also parse complex information into terms that their audiences, who often don’t finance experts themselves, can easily understand.
These professionals have to address compliance with relevant laws and regulations in terms of financial operations, while also taking an organization’s financial objectives and preferences into account, as they carry out their duties.
For careers related to MBA finance, demand is always an important factor, as is salary. US News & World Report placed the financial manager role at No. 2 in its “Best Business Jobs” ranking in part because of high projected demand — an additional 118,200 jobs anticipated through 2030. The median salary of $134,180 also contributes to the role’s notably high position on the publication’s list.
3. Personal financial advisor
Personal financial advisors work directly with the general public, ranging from families just starting to develop a financial strategy to individuals with exceptionally high net worths. These professionals offer a combination of advice, guidance, and strategy development for their clients.
Key responsibilities for personal financial advisors include providing support for their clients in the short term through money management suggestions, as well as building longer-term plans with them for saving, investing, and reaching a variety of financial goals. In-depth financial knowledge, attention to detail, adherence to regulatory requirements, and communication skills are all crucial to success. Certifications, such as the Certified Financial Planner designation, can support positive outcomes in this career. So can earning an advanced degree that features a curriculum relevant to the role.
Career growth in MBA finance roles is especially important, so it’s crucial to note that the BLS projected 5% growth for this role through 2030. The number of positions expected to open to new candidates annually through that same time is 21,500, representing many opportunities for aspiring professionals. Compensation is notably high, with a median salary of $89,330. That’s more than double the national median annual wage for all occupations of $41,950.
4. Investment banker
Investment bankers have the knowledge, experience, and relevant skills needed to facilitate large and complex transactions between investors and businesses, governments, and other organizations. The most common duty for an investment banker is to secure funding for their employers' client businesses from outside investors. The BLS explained they also play key roles in initial public offerings (IPOs), where companies issue their first stock for purchase by the general public, and in mergers and acquisitions.
High aptitude in math and finance, close attention to detail, strong communication skills, and the resilience to work much more than a regular 40-hour week are all crucial attributes for investment bankers. Earning an advanced degree like an MBA, and especially one with a concentration in a relevant subject such as finance can support career growth.
Investment bankers earn a median annual salary of $101,251, according to PayScale. The BLS predicted that about 42,500 positions in these fields will open each year through 2030, a strong sign of the need for skilled financial professionals.
5. Budget analyst
Budget analysts offer a knowledgeable perspective as they help organizations create realistic and balanced budgets. These professionals have a variety of employment options, like many businesses, government agencies and departments, and nonprofits work with budget analysts to protect and improve their fiscal health.
Budget analysts manage a variety of information related to this process, creating unified budgets, projecting future needs, identifying alternatives, and communicating with a variety of stakeholders. An MBA can equip analysts with the advanced competencies and skills needed to excel in this role. That includes analytical reasoning skills that support confident decision-making and experience with the financial tools and methodologies used across the industry.
As with many MBA finance careers, compensation for budget analysts is notably high. This role has a median annual wage of $78,970, according to the BLS. As a more specialized role, there are fewer total active positions than for many other finance careers. However, the BLS projected that roughly 4,300 budget analyst positions will become open each year, offering many opportunities.
What you can learn in the Suffolk University MBA online
Whether you’re seeking out a career in Boston or anywhere across the country, in accounting, finance, or another industry, you can build applicable skills and valuable knowledge with an advanced degree that targets your chosen field.
The Suffolk University MBA Online features a dedicated world-class faculty, opportunities to work with premier companies to address the real-world issues they face, a wealth of opportunities for networking, an emphasis on live classes and meetings, and much more. That includes the option to tailor your degree with one of six concentrations that focus on in-demand industries and related roles.
By selecting the finance concentration, you can develop experience with financial tools and methodologies while also building the problem-solving and interpersonal skills that are so crucial in this field. Courses dedicated to topics including investment analysis and options and futures support targeted growth. The fully online delivery of learning content leads to the development of advanced competencies while balancing other personal and professional responsibilities.
Contact an Enrollment Advisor to discover how an MBA Online from Suffolk University with a finance concentration can support your career goals and spur growth as a business leader.