Graduates of the online Master of Business Administration with a Finance Concentration program at Eastern Washington University enjoy a broad range of career options. The finance industry is booming internationally, with growth driven by emerging economies, multinational organizations, entrepreneurism, digital transformation in financial services, a slew of new technologies and changing domestic and international finance regulations.
Six-figure positions in virtually every industry, including finance and its sectors, are suited to a wide range of natural aptitudes and interests. The three major sectors in finance are financial services, banking and insurance. A key to unlocking your greatest potential with this specialized MBA is to match your strengths with the appropriate career path.
Financial Services
Personal financial advisor $262,221 average salary. Personal financial advisors or planners work in large corporations or smaller, local firms. They provide advice and management services to individual clients for investments, insurance, mortgages, college savings, estate planning, taxes and retirement. In this field, professionals review clients’ saving objectives, risk tolerance and investment horizons in order to devise investment strategies. The income range is very broad and based on experience and expertise. Some financial advisors earn a percentage of assets under their management, some charge flat fees, and some receive commissions on the products they sell. Demand for financial management services is driven by the aging population and longer life spans leading to longer retirements.
Senior credit officer $191,501 median salary. This role leads the credit function and implements policies for the review of customer credit histories and the granting of loans and lines of credit. This position ensures that research is effective and complies with applicable laws and regulations.
Certified public accountant $70,235-$461,014. This role can either serve businesses or individuals, enabling them to manage their finances according to generally accepted accounting principles. They may work for large partnerships or smaller firms.
Corporate Financial Management
Economist Corporate III $133,215 median salary. This position serves as the company’s expert on economic data and trends. A corporate economist with a few years of experience and an MBA typically researches and develops new statistical models, conducts research and analyses, interprets economic conditions and advises management on business implications.
Financial Manager $127,990 median salary. This position sources and manages the capital it takes to run and grow an enterprise. Financial managers direct investment activities, produce financial reports, forecast profit and loss, negotiate for lines of credit and develop investment strategies. The challenge in this role is to balance potential gains in corporate value against the risks. This position is also available in the banking and insurance industries.
Financial controller $197,600 median salary. This position is in charge of an organization’s accounting systems, functions, procedures and policies. The financial controller directs subordinates in analyzing and reporting financial information, including required filings and reports as well as budgets.
Banking and Investing
Banking and commercial loan workout manager $155,131 median salary. This role reports to top management and directs a staff of professionals who restructure problematic business banking and commercial loans.
Mergers and acquisitions manager $155,230 median salary. This role manages all aspects of an organization’s policies toward achieving growth through mergers, acquisitions and divestitures. They estimate cash flow and probability, identify risks and develop solutions.
Insurance
Actuarial services director $224,053 median salary. This role develops mathematical analyses and financial principles to solve insurance problems. It advises management in determining major rating assumptions.
Claims manager $107,087 median salary. This role heads the insurance claims department, consists of examiners and adjusters. The work involves the disposition of insurance claims in accordance with coverage amounts, appraisal and verifiable damage.
Note: Salary data was sourced from Salary.com and the U.S. Bureau of Labor Statistics as of February 2020.
These are just a sampling of the many positions for which an MBA with a specialization in finance can prepare you. Your own research will uncover thousands more and demonstrate the value and versatility of this degree.
Learn more about Eastern Washington University’s online MBA program with a Finance Concentration.
Sources:
Salary.com: Financial Analyst IV
Salary.com: Financial Controller
Salary.com: Banking and Commercial Loan Workout Manager
Salary.com: Senior Credit Officer
Salary.com: Actuarial Services Director
Salary.com: Mergers and Acquisitions Manager
Salary.com: Six-Figure Banking Jobs
Salary.com: High-Income Insurance Jobs
