Business professionals aiming to advance their careers in the finance sector face several options when it comes to higher education. Two popular pathways among business professionals are a Master of Business Administration (MBA) with a concentration in finance or a Master in Finance (MF). While both degrees prepare graduates for lucrative and fulfilling careers, prospective students must understand their differences and similarities to decide between them. Knowing which degree aligns with specific career aspirations can also help prospective students make this important decision.
Eastern Washington University (EWU) offers an online MBA with a Finance Concentration program, which provides flexibility and a curriculum that equips students with advanced financial and leadership skills. This program is a compelling option for professionals seeking to grow in the competitive finance industry.
What is an MBA in Finance?
An MBA in Finance is a graduate degree that provides a comprehensive understanding of business operations with a specialization in financial management. EWU’s program equips students with core knowledge in areas such as accounting, marketing, organizational behavior and leadership — alongside focused financial coursework like corporate finance and international investment.
MBA programs are versatile, preparing students for leadership roles across industries. Graduates often pursue careers in financial management, consulting and executive positions. An MBA in Finance enhances critical skills like communication, decision-making and problem-solving, which are qualities highly valued by employers. Online MBA options, such as the one offered by EWU, allow professionals to complete the degree at their own pace and continue working while earning their degree.
On average, MBA in Finance graduates earn $107,000 annually, according to Payscale. This earning potential reflects the degree’s value, particularly for individuals seeking roles with greater responsibility.
What is a Master in Finance?
The MF degree focuses exclusively on finance and closely related fields. It offers a deep dive into financial theory, quantitative finance and investment strategies. Coursework often includes topics like valuation, risk management and financial analysis, which prepare graduates for technical roles in the finance industry.
MF graduates can expect an average annual salary of $92,631, as reported by ZipRecruiter. While this is lower than the average salary for MBA graduates, the specialized nature of the MF degree positions graduates for niche roles in fields such as investment banking, trading and financial analysis.
Similarities and Differences Between the Degrees
Both MBA and MF programs prepare students for careers in finance, but they differ significantly in scope, structure and career focus. The MBA offers a broad-based curriculum that includes leadership, management and general business skills alongside finance. An MF program provides in-depth expertise in finance, focusing on technical and analytical skills.
One notable difference is program duration. While students complete traditional MBA programs in two to four years, they can complete EWU’s online MBA in Finance program in as few as 10 months. MF programs, on the other hand, are often full-time commitments. Typically, students complete in one year, making them more intensive.
Business professionals applying to one of these advanced programs must also consider cost. MF programs are generally less expensive but may lack the flexibility of part-time study. For students seeking leadership roles or career advancement across industries, the broader skill set offered by an online MBA can outweigh its higher cost and longer duration.
What Are Jobs for MBA in Finance Graduates?
An MBA in Finance opens doors to diverse and rewarding career opportunities. Graduates can pursue a wide range of roles including the following (with salary data as of April 2024 provided by Indeed):
- Financial analysts assess financial data, forecast business opportunities and present insights to aid decision-making. These professionals earn an average of $73,812 annually.
- Finance managers oversee financial strategies, budget processes and long-term planning. They typically earn $102,857 per year.
- Investment bankers structure IPOs, manage mergers and acquisitions, and advise clients on financial strategies. These professionals earn an average salary of $78,664.
- Portfolio managers assemble and maintain investment portfolios and confirm compliance with regulatory standards. They earn approximately $90,542 per year.
These roles require a blend of technical expertise and leadership skills. EWU’s online MBA with a Finance Concentration program provides knowledge in these areas.
Why Choose EWU’s Online MBA in Finance?
The online MBA with a Finance Concentration meets the demands of today’s business professionals. EWU’s program also stands out due to its AACSB accreditation, ensuring a high standard of education.
Whether students aim to climb the corporate ladder or specialize in finance, choosing the right degree is key to achieving career goals. By offering advanced coursework and practical learning opportunities, EWU’s online MBA with Finance Concentration empowers professionals to lead and succeed in the ever-evolving finance industry.
Learn more about EWU’s online MBA with a Finance Concentration program.
