You won’t need to dig deep: schools know where their strengths lie and are not shy about promoting them. The degree designation (Master of Science in Finance, Master of Quantitative Finance, Master of Financial Engineering) will offer a clue in this regard, but a visit to each prospective school’s website is the best way to learn about each program. Some offer a panoramic view of finance, while others have a narrower scope. How general/specialized is the degree?: Not all master’s in finance degrees cover the same content. As always, evaluate the program’s focus in light of your career goals.ģ. Other programs focus more on the nuts-and-bolts of daily finance work. How theoretical/pragmatic is the program’s approach?: Some graduate programs-quite often the top-ranked schools, whose reputations are based at least in part on the cutting-edge research generated by their faculty-emphasize theory over process. There are many excellent graduate finance programs in the U.S., some at relatively affordable state institutions.Ģ. If your ambitions are less lofty, a five-star degree probably isn’t necessary. If your goal is to be a star in the finance world, you’ll want to look at one of the top-ranked programs (a number of which are listed below). Reputation of degree: Simply put, top programs feed the top jobs. Those with the flexibility to consider other program features should think carefully about the following:ġ. How to evaluate a master’s in finance programįor many prospective graduate students, cost and convenience are the most important-perhaps the only important-factors in choosing a program. In 2017 the median annual income for a financial manager was just over $125,000 for personal financial advisors, 2017 median annual income topped $90,000. Better still, the BLS lists these as among the highest-paying jobs in the business sector. Jobs in financial management, for example, are predicted to grow by 19 percent over the period in personal financial advisement, by 15 percent and in financial analysis, by 11 percent (by comparison, the overall job market is projected to grow at a rate slightly over 7 percent for the same period). According to the Bureau of Labor Statistics, the finance sector should experience better-than-average job growth between 20. What can you do with your master’s in finance?Ī master’s in finance opens a wide range of career opportunities in investment banking, commercial banking, corporate finance, real estate finance, personal financial advising, real estate finance, money management, insurance analysis, and financial analysis. It is not unusual for students interested in finance careers to pursue a master’s in finance upon completion of, or in conjunction with, an MBA. Some programs offer both a 12-month option and a less grueling 15- or 18-month option. Unlike an MBA, which typically takes two years to complete, a finance master’s can be completed in as little as 12 months. The degree designation indicates the program’s emphasis: a master’s in financial economics, for example, will stress economic theory, while a master’s of financial engineering will focus on the application of mathematical models to investment strategy.Ī finance master’s is more singularly focused on finance than is an MBA/ with a finance concentration, and requires more advanced skills in mathematics and computing. Master’s in finance programs focus on finance and financial markets, with an emphasis on quantitative skills in statistics, probability, and computer science, and on quantitative applications such as risk management, asset management, derivatives, and financial forecasting. The degree is typically offered through the university’s school of business and management, although some some universities offer it through their engineering school. financial economics, quantitative finance, financial mathematics, financial engineering). What is a master’s in finance?Ī master’s degree in finance is typically a Master of Science degree, either in finance or in some more specific area of finance (e.g. Finance careers are available to those who hold only a bachelor’s degree, but the plum jobs go to those who have pursued advanced degrees, such as the master’s/ in finance. This is equally true in the personal finance market, where financial professionals help groups and individuals formulate sensible plans to accrue wealth. They recommend and help implement strategies including investments, loans, mergers and acquisitions, and stock sales, all with an eye toward maximizing profit and reducing risk. Managing that money is the job of finance professionals. Money is the lifeblood of business, the thing that keeps the doors open, the wheels turning, and the paychecks coming.
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