It’s no surprise that careers in finance bring in healthy salaries and can go a long way, so having an MBA finance (Master in Business Administration Finance) degree should get your foot in the door to some of the highest-paying positions in the industry. But what are the opportunities available right after getting the qualification?
In this article, Real Business will outline all you need to know about paths you can take after getting your MBA finance qualification, as well as salary comparisons and the feasibilities of running your own business.
Table of Contents
What Are Entry-Level Careers For An MBA Finance Graduate?
An MBA finance qualification can set you on the path to high-paying, high-responsibility roles in the finance industry.
1. Budget Analyst
Budget analysts assist organisations in allocating finances to resources required by the business, as well as creating and monitoring spending budgets for various projects. Often you can find them compiling financial reports and working closely with senior management to create estimates for future spending requirements using their upper managerial knowledge.
A budget analyst without a strong structure risks misallocating resources and creating cash flow problems, inaccurately forecasting projects and creating various operational disruptions. As a result, it is a very important managerial role.
- Average salary – £42,000.
- Range – £34,000 to £51,000.
2. Financial Analyst
Financial analysts are responsible for analysing financial data to identify possible business opportunities. They create models to forecast revenue, costs and profitability whilst looking out for investment recommendations via stocks, bonds or other avenues. This position revolves around ensuring operational performance metrics align with the overall financial goals of the company, as well as testing the metrics for accuracy.
This role hinges on being able to support long-term business plans whilst identifying areas of improvement and expansion and delivering these insights to the stakeholders in a clear and actionable format.
- Average salary – £33,000
- Range – £26,000 to £42,000
3. Financial Manager
Financial managers are high up bridging the gap between the finance team and the senior business leadership. They create and enforce high-level financial policies to ensure the smooth operation of a business and alignment with long-term business goals. Their specific duties vary between organisations and may involve duties of both budgeting and financial analysis.
One of the biggest duties that set it apart from others is its direct liaisons with stakeholders, being the first point of contact for review of the financial performance of the business.
- Average salary – £52,129
- Range – £42,000 to £64,000
4. Chief Financial Officer (CFO)
A CFO is one of the most senior financial roles you’ll find in business, in charge of ensuring organisational behaviour is in line with financial regulations, and is in charge of the overall strategic management of business goals. Beyond corporate governance, they engage in acquisitions and mergers of other businesses or entities.
The CFO is a boss amongst bosses within financial institutions.
- Average salary – £123,969
- Range – £90,000 to £250,000
5. Accounting Manager
The accounting manager oversees the day-to-day function of the accounting department, creates financial statements and reports, and analyses the ones he didn’t create. Their development and enforcement of accounting policies allows them to maintain internal control and is often a liaison between the department and upper management.
An accounting manager will likely also be in charge of onboarding new staff and supervising them to ensure nothing runs foul of compliance.
- Average salary – £54,037
- Range – £45,000 to £72,000
6. Risk Manager
The Risk Manager of an organisation is responsible for identifying potential for financial and even licensing loss through risk assessment programmes, and implementing preventative measures to minimise costs and damages should the loss occur. Risk management also involves analysing losses when they occur to further perfect contingency plans.
As a Risk Manager, you may be employed directly by a large organisation, or choose to work independently as a consultant to provide risk management services to businesses.
- Average salary – £67,340
- Range – £55,000 to £90,000
7. Treasurer
Treasurers are responsible for liquidity management, as well as overseeing the company’s budget and investments. They try to ensure minimal losses whilst looking out for lucrative lending opportunities that promise greater growth.
Cash flow management is by far the biggest responsibility of this role, and your days will consist of providing comprehensive reports both large and small for cross reference and execution.
- Average salary – £60,953
- Range – £50,000 to £85,000
MBA vs MBA Finance – What Is The Difference?
The Master’s degree in business administration, often shortened to MBA, is a postgraduate qualification that equips graduates to work in upper management roles in any business, including using research skills and risk management to ensure the proper function of any chosen organisation. All of this is done through a structured MBA programme in a global context. However, like a lot of master’s degrees, it has specialisations.
An MBA programme specialising in finance means you’ll specialise in compliance, accounting, budgeting, investment, corporate finance and banking. Your upper managerial role will surround handling the cash flow of a business, and be responsible for wages, speaking with regulatory bodies and more.
Many MBA finance students also show interest in chartered management institutions due to their high focus on managerial roles, great for aspiring business leaders.
What Does An MBA Finance Programme Involve?
An MBA finance student can expect completion within 12 or 24 months, depending on whether full-time or part-time. Modules within a finance MBA course may include:
- Financial management and control
- Strategic management
- International finance and investments
- Financial markets
- Integrated communications
- Business leadership development
- Value creation in organisations
The curriculum also integrates principles of international financial management, preparing both a local and international student for international financial management.
What If You Change Your Mind About Working In Finance?
Even if you decide after completing your MBA finance qualification that it doesn’t hold the traditional routes you’re interested in, you will still have a wide range of career opportunities at your fingertips. This is because an MBA in finance gives you an in-depth understanding of business management, including business strategy, marketing and finance. These skills are fundamental to several other roles, such as:
- Management Consultant
- Trader / Stockbroker
- External Auditor
- Business Development Manager
- Procurement Manager
- Arbitrator
- Financial Advisory
The wide range of careers outside of the finance industry that an MBA in finance can lead to demonstrates the flexibility and versatility of this qualification, as well as its prestigious standing in the world of business.
Conclusion
Overall, an MBA finance program can give you the skills you need for success and entry requirements into any role in finance and management. Even if you lose interest, the mere fact that you have a masters gives you a tremendous advantage in the job market.
FAQ: Are finance jobs in demand?
Yes. Around the world, finance jobs are in demand, and even though the UK has seen a downturn in finance vacancies, these roles are always fundamental to a business’ success. This is positive for professionals who are looking to progress their careers in finance and increase their earning potential with their financial expertise. By obtaining an MBA in finance, you’ll become highly employable with a wide range of companies in the finance sector.
FAQ – How to plan for professional development after an MBA finance qualification?
Assess your career goals and target goals, and proudly display your qualifications on your LinkedIn and other professional network outlets. From there, take a look at your options, and other additional certifications to bolster your position. For example:
- Chartered Financial Analyst (CFA) – Add to your CV for investment and portfolio management roles.
- Chartered Manager (CMgr) – Learn from CMI to enhance leadership credentials.
- Financial Risk Manager (FRM) – A certification for risk management roles.
- CPA or ACCA – This is for advanced accounting expertise
By completing an MBA in finance, you could find yourself working in positions such as Financial Manager, Risk Manager or even Chief Financial Officer. Even if you go on to decide that finance is not the field for you, the interdisciplinary approach to the finance MBA will mean that you will find yourself highly employable, whatever career you decide to pursue.
