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Lucrative Career Paths in Finance

Lucrative Career Paths in Finance

Pursuing a business degree is what many of our students choose to do when wanting to change careers or when hoping to increase earning potential – or both. The goal being to hone their skills in a particular area of business by earning a specialized master’s degree that can provide a wealth of knowledge and expertise to set them apart in a highly competitive, global job market. One of the most popular and lucrative specializations in this regard is in the finance sector.

Career Focused Finance Concentration

Ottawa University’s online Master of Business Administration (MBA) allows students to select a concentration in finance while pursuing their MBA degree. This finance concentration is designed for working adults, who may already have business experience, and are seeking to boost their credentials and overall acumen. Our MBA program develops leaders who are qualified to manage company finances, assess financial risks, and ensure business sustainability in ever-changing market conditions.

Furthermore, graduates with a finance degree are skilled in assessing emerging financial challenges and transforming the landscape of business and finance. In making these critical decisions, professionals in the field of finance apply economic, finance, risk management, and quality assurance principles. Ottawa’s online specialized MBA in finance is specifically designed to be a career game changer for our graduates.

Careers in Finance

So, what you can do with a finance-focused MBA? The sky’s the limit! Below are three of the most popular and profitable career paths available to those holding a finance degree.

  • Corporate or Entrepreneurial Finance

For those who are interested in bottom-line analysis, corporate finance is a popular career path with a broad range of opportunities for ambitious graduates of a finance-focused MBA program. Corporate finance deals with the capital structure of a corporation, including its funding and the actions that management takes to increase the value of the company. It is further concerned with managing a company’s accounts and capital effectively, making key investment and business decisions to generate profit for the company and value for the shareholders.

A company’s finance department is central to its profitability and success. Likewise, it can also be a lucrative career path, with CFOs (chief financial officers) being among the highest paid jobs in finance. Median salaries can be in the range of $130,000 to $225,000, and sometimes much higher in larger companies. If this is your ultimate career goal, you’re likely to start out as a financial analyst or accountant in an organization and climb the ladder from there.

  • Commercial or Investment Banking

Banking is another lucrative and rewarding career path for graduates, who often benefit from some of the highest starting salaries in finance. Graduates with a finance-focused MBA may choose to go into commercial or investment banking, depending on their personal skills and aspirations.

Commercial banks are what the majority of businesses and individuals interact with when it comes to day-to-day banking, such as opening savings accounts or applying for loans. Excellent interpersonal communication skills are especially useful in the commercial banking sector, as many roles tend to be customer or client-facing. Job opportunities in commercial banking include everything from loan officers to mortgage bankers and credit analysts.

Investment banking may be considered more glamorous; however, it can be a hugely competitive field to enter. Investment banks deal with large and often complex financial transactions, including the sale of stocks and bonds, as well as corporate mergers and acquisitions. Career options involve much more than big-money deals and high-return trading—you might work as a financial analyst, risk and compliance officer, or mergers and acquisitions advisor.

Salaries for a career in investment banking tend to be much higher comparatively. The median salary range is $101,000 up to more than $200,000 for the highest-paid 90 percent. On the executive level, an experienced VP of an investment bank can earn in excess of $500,000.

  • Private Wealth Management

Some graduates interested in managing financial assets may find the pace and hours associated with investment banking undesirable. In this regard, their finance-focused MBA degree can set them up well for a career in private banking or wealth management. Rather than managing the finances and investments of governments or large corporations, these professionals are responsible for the financial assets of high-net-worth individuals. Generally, these are private individuals with assets worth in excess of $5 million.

Private wealth management, also known as private banking, aims at helping high net worth individuals plan and manage their finances effectively. Private banking offers a personalized service, covering everything from efficient tax planning to advising on stock investments or setting up family trust funds.

Primary roles within private banking include investment management and relationship management. Each demand a solid financial background but are distinctive in terms of the other skills required. Relationship managers, like those in commercial banking roles, rely on strong people skills and the ability to influence clients and build relationships, as the name suggests. Investment managers, on the other hand, manage the money, meaning analytical skills and market understanding are paramount. As an investment manager, you may directly manage your client’s account, or serve an advisory role, generally often coordinating with the relationship manager to recommend financial products.

Why Choose Ottawa?

Ottawa University’s competitive, highly accredited online MBA program prepares you for a wide variety of upper-level management careers. Our program holds the esteemed accreditation from the Accreditation Council for Business Schools and Programs (ACBSP), showing the high levels of business teaching within this degree. U.S. News & World Report ranks this online MBA among the top in the nation. The curriculum is divided into three modules: behavioral courses, core courses, and capstone courses.

OU is proud to offer this flexible online finance concentration, which is the best, fastest, and most affordable option in the institution’s adult markets in Kansas City, Milwaukee, and Phoenix.

What are you waiting for? Take the first step in advancing your career with Ottawa’s MBA-finance degree. To learn more about earning your online finance-focused MBA or any of our other accelerated, online degrees, contact us today!

See Also:

Master in Business Administration

Master of Arts in Accounting

Master of Arts in Leadership

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Posted: 04/22/2021 by OU Online
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