MBA in Finance Career Guide

What Can I Expect from an Online MBA in Finance?

Choosing an online MBA in finance program provides students with the same quality of education found with a traditional, on-campus program, often at a lower price. Those who work full-time or have personal commitments appreciate the flexible attendance policies of most online programs, letting them participate at their convenience. A variety of scheduling options, like part-time or accelerated options, are also offered to give students control over the time commitment required to work through the program. For MBA degrees, students also have the option of seeking an executive MBA if they have professional experience in an executive position or some other type of leadership role. It’s important to note that every program is unique, so it’s a good idea to look carefully into the details of several before making an enrollment commitment.

Concentrations Offered for an Online MBA in Finance

Curriculum for an Online MBA in Finance

Choosing an MBA in finance program can seem difficult with the curriculum differences found between schools. However, taking the time to compare offerings to your professional goals can help ensure you find the program that best meets your career needs. Make sure to watch for blended programs that require one or more classes to be completed on campus. Those that are outside of your local area may require relocation to complete.

Along with the course options that are unique to each school, there are a few courses that can be found in almost every program, including.

How Long Does It Take to Get an Online MBA in Finance?

Most online programs for an MBA in finance require 36 credit hours and can be completed in 18 to 24 months. This time line can be extended for students who work full time or have personal commitments that require a part-time course schedule of only one or two classes each semester. Some programs also offer an accelerated option that can cut completion time to as little as one year but require a heavier course load.

The way curriculum is delivered can also have an impact on the time needed to complete the program. Individually paced programs often offer multiple start dates throughout the year and allow students to self-pace based on their ability to complete coursework. Cohort programs are more rigid in structure, requiring groups of students to work through the curriculum together on a shared schedule. These types of programs generally only offer one or two start dates each year and encourage networking between classmates, providing a higher level of support between students and instructors.

Certifications and Licenses an Online MBA in Finance Prepares For

Accreditation for Online MBA in Finance

When choosing your program, it’s critical to verify that any school you consider is accredited from a respected agency. Accreditation guarantees that the quality of education being provided is up to the standards set by the granting agency. Electing to pursue a program without accreditation carries the risk of non-transferable credits should you choose to continue your education, losing out on job opportunities for employers who require a degree from an accredited program and being ineligible for licenses and certifications that require accreditation.

There are three types of accrediting agencies you should look for. National agencies, such as the Department of Education, offer accreditation to schools that meet the national educational standards. There are also six regional agencies, including the Higher Learning Commission and the Middle States Commission on Higher Education. These agencies are highly respected and accreditation carries the additional benefit of easing the transfer of credits between institutions that are accredited by the same agency. Finally, there are industry-specific agencies that grant accreditation to programs that meet the standards necessary to ensure students have the tools they need to be successful. The Association to Advance Collegiate Schools of Business (AACSB) and the Accreditation Council for Business Schools and Programs are two examples.

Employment Outlook for MBA in Finance Graduates

Job Placement: Master’s v. Bachelor’s

Taking the time to complete an online MBA in finance program gives job seekers an edge over bachelor-holding competitors. It demonstrates your dedication to your career and provides additional education and work experience. It’s also important to note that some certifications, such as the FRM certification, are only available to those who hold a master’s degree. The Bureau of Labor Statistics estimates the growth of jobs for financial managers to be around 19 percent, which is much higher than the overall job growth average of 7 percent. Having your MBA in finance can increase the chance that you land one of the more desirable positions.

Expected Salary

The salary potential for those who hold an MBA in finance is significant, with many job titles offering six figures in the upper range. Looking at the chart below, it’s easy to see the positive financial impact of positions often held by those with a graduate degree.

ving an MBA in finance can help tip your salary to the higher end of the scale. Looking at the chart below, you can see how the salary potential goes up with additional experience in the first 20 years.

Career Opportunities

There are a number of career opportunities for someone with an MBA in finance. The degree also increases your negotiating power, commanding a higher salary potential and increasing your eligibility for better benefits packages.

Professional Organizations

As with most industries, professional organizations for those with an MBA in finance provide an opportunity to network, take advantage of educational opportunities and stay up-to-date on the latest industry news. Here are a few organizations that could be helpful to those with their MBA.

Association of Accountants and Financial Professionals in Business: This organization is sometimes referred to as the Institute of Managerial Accounts and offers members its full resource center, educational opportunities, industry publications, members-only discounts and hosted events.

Association for Financial Professionals: The AFP provides members with networking opportunities and offers a number of professional tools and access to industry publications and research.

American Association of Finance and Accounting: The AAFA was created to help professionals connect with consumers. Young graduates, especially, can benefit from the career building provided on the AAFA site.

Financing Your Online MBA in Finance

In many cases, the tuition for an online MBA in finance program is lower than that of an on-campus program. Despite that, some students may still find themselves in need of help to cover program costs. Filling out the Free Application for Federal Student Aid (FAFSA) should be your first step to find out if you qualify for any government-funded grants or loans. If you don’t, or if the amount offered isn’t enough, you also have the option of pursuing private loans or scholarships to make up the difference. To get you started, check out the resources below to learn more about your options.

Resources

Scholarships