Are you contemplating a career in corporate finance, commercial banking, financial planning or investment banking? These sectors, and many others, compose the fast-growing, high-demand field of finance, for which an MBA is the expected level of academic achievement.
Core Business Management Curriculum and Specialized Financial Training
The online Master of Business Administration program with a Finance Concentration from Eastern Washington University offers a well-rounded MBA business curriculum with core courses in data-driven decision-making, corporate finance, marketing management, leadership and ethics, operations management and advanced accounting. These courses are essential to prepare you for management, executive and leadership positions in business and financial institutions.
The core curriculum is paired with concentration courses in financial statement analysis, international financial management and international investments. Students also choose from one of two electives in advanced cost accounting or global accounting management.
Solid Job Growth and Diverse Opportunities
The accounting firm Deloitte reports that in banking and capital markets, “Economic fundamentals are strong, the regulatory climate is favorable, and transformation technologies are more readily accessible, powerful, and economical than ever before.” These technologies, such as machine learning, blockchain, mobile banking and quantum computing, are expected to create new purposes for financial institutions and new opportunities for highly trained financial professionals.
According to the U.S. Bureau of Labor Statistics, several sectors in finance are expected to outpace the economy in job growth. Consider the expected job growth for financial managers alone, with 104,700 new jobs expected between 2018 and 2028 and a much faster than average job growth rate of 16% (as of February 2020). Financial managers for corporations are generally responsible for producing financial reports, directing investment activities, forecasting profits and losses, and developing investment strategies.
Over 19,100 new jobs are expected for financial advisors in the 2018-2028 timeframe, with a 7% job growth rate. This widely diverse set of positions encompasses personal financial advisors as well as financial analysts, financial reporting managers and directors, accountants and CFOs. Banking and investing services are another area with career options including operations, marketing and branch managers, and executive positions in the corporate office. The insurance industry is yet another field with high demand for specialized professionals who can work with businesses and individuals to plan for potential risks and protect against losses.
Many of the positions for which an MBA in finance prepares graduates start in the six figures and progress from there with experience and achievement. This is one of the reasons why The Princeton Review rates finance leadership as one of the most in-demand MBA specializations. A filtered search of six-figure jobs on Salary.com reveals varied opportunities in financial services, banking, and insurance (as of January 2020).
Unlike most other specializations aside from human resources, finance professionals with an MBA education can work as managers, executives and leaders in any industry. Although economic cycles can hit any industry hard, having this versatility enables graduates to weather the winds of change and find success in all economic conditions.
Learn more about Eastern Washington University’s online MBA program with a Finance Concentration.
Sources:
Deloitte: 2020 Financial Services Industry Outlooks
U.S. Bureau of Labor Statistics: Financial Managers
U.S. Bureau of Labor Statistics: Personal Financial Advisors
