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Lucrative Jobs in Finance

Lucrative Jobs 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. Read further to learn more about one of our most popular and lucrative specializations

Jobs in Finance

Careers in finance typically require a bachelor’s degree at a minimum. A great place to get your career started is to complete your bachelor’s degree in finance. However, many individuals within the finance industry have qualification beyond a bachelor’s degree. While MBA’s are the most popular advanced degree, individuals also pursue other master’s degrees and even PhDs. In addition, careers in finance often require specific certifications and licenses, such as Certified Financial Planner (CFP) and Certified Financial Analyst (CFA). Some licenses are required by law while others provide a specific designation. Both licenses and certifications require exams.

Many of our graduates continue their education with a master’s degree beyond a bachelor’s degree. Ottawa University’s online Master in Business Administration (MBA) allows students to select a Finance Concentration while pursuing their MBA degree. If you are thinking about jobs for a degree in finance, this 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 funds, assess financial risks, and ensure business sustainability in ever-changing market conditions.

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

Jobs for a Degree in Finance

So, what jobs can you get as a finance major? The sky’s the limit! Below are three of the most popular and profitable career paths in finance.

  • Corporate or Entrepreneurial Analyst

For those who are interested in bottom-line analysis, this is a popular career path with a broad range of opportunities for ambitious graduates of our MBA program. This field 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 financial department is central to its profitability and success. Likewise, it can also be a lucrative career path, with Chief Financial Officers being among the highest paid. Average salaries in finance 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. Students 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 competitive field. This industry deals 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 average salary is $101,000, and is up to more than $200,000 for the highest-paid 90%. On the executive level, an experienced VP of an investment bank can earn more than $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, our MBA degree can set you up well for a career in private banking or wealth management. Rather than managing 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 funds 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.

Jobs for a Finance Major

Ottawa University’s competitive, highly accredited online MBA program prepares you for a wide variety of jobs as finance major. 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.

OU is proud to offer this flexible online 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 online MBA degree. To learn more about earning your this program, or any of our other accelerated, online degreescontact us today!

See Also:

Master in Business Administration

Master of Accountancy

Master of Arts in Human Resources

Master of Arts in Leadership

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Posted: 04/22/2021 by OU Online
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