Book a Free Session

Please screenshot this page and send it to info@mim-essay.com

close

Masters in Finance Career Path

Graduates want to stand on their own feet and establish themselves in the professional industry. Moreover, to have a successful and fulfilling career ahead of them. To accomplish so, one must be clever and make the necessary efforts to acquire a solid position in the employment market.

For a successful future, a professional should have a good beginning. This can be done by applying for an appropriate level of degree in the right field of study. There are many options that are very popular among students that could lead to a successful career. One of those courses is a master’s in finance, popularly known as MFin.

Moreover, finance is an important field of study and has many applications in all sectors, business or otherwise. The advantage of having a master’s in finance degree is that students will be able to instil a sense of confidence in employers. In addition, a master’s degree curriculum teaches advanced topics to the students who are more practically involved.

Hence, the students who pass out are more professional.

What is Finance?

Finance is complicated but a significant field of study. It is essentially a business-related subject and has applications in any type of business. Finance deals with any activity that involves banking, debit, credit, capital market and investments. The subject deals with tracking the flow of money through the various forms that it takes.

It has become a vital sector of business. All companies, irrespective of the market they cater to, deal with investment in many forms. They have to manage the stakeholders of their company and look into various investment endeavours that could help expand their companies. In order to do so, they require professionals who know how to study the market and come up with strategies. This is where professionals with the knowledge of finance come in.

With respect to application, the field of finance can be divided based on the size of the organization. The three types of finance are personal, corporate, and government (public).

PersonalFinance focuses on the financial activity of individuals. This kind of finance is varying and fluid, depending upon an individual’s specific needs like future goals, retirement plans, etc. Corporate finance deals with companies and organizations. Startups are looking for investors for a portion of the companies’ assets. Also companies planning to go public on the stock exchange come under this section.

Investment banks would be involved in providing these services. Public or Government finance involves taxes, budgeting and debt issuance, which affect the entire country’s economy. This is an important section that helps keep the country afloat.

Advantages of Studying Masters in Finance

advantages of mfin

Working in finance will familiarise you with many different facets of social and economic significance. Some of the most crucial aspects are one's own finances, one's institutions, and the state of the national economy.

Having a profession in such a sector might provide you with valuable knowledge in the aforementioned areas. A job in this field in today's world has a myriad of obstacles, such as the question of how to assist a business in becoming more successful. Therefore, having a career in finance that you can successfully retain and maintain provides you abilities that you may subsequently employ in your own personal financial life or in the management of your own firm.

It is a commonly held belief that a job in the financial sector provides its employees with the highest possible level of job satisfaction. This was also shown to be true by the findings of a study survey, which discovered that those working in financial professions scored an average of 9.6 out of 10 on their levels of satisfaction. Due to the high levels of job satisfaction, it is likely that professionals in these fields do not often switch occupations or quit their employment due to other commitments.

A profession in finance is advantageous since it often results in higher salary for the individual. Because their services are considered to be among the most necessary and in great demand in the market, employees in the financial sector get a reasonably excellent salary due to the significant demand for their services in almost every industry. Due to the higher compensation, employees now have the option to save money and, as a result, invest that money in activities that generate more revenue.

Careers connected to finance have much higher rates of job stability than other fields. A finance graduate who was laid off from their job at one firm would not be out of work for an extended period of time since they would quickly find another employment opportunity at another company. In addition, since there is such a great demand for people with these abilities, workers have the leverage to bargain for higher compensation and a more pleasant working environment.

To summarise, the financial industry is one of the most competitive and competitively exploited areas today. Even if there are a significant number of graduates in finance from educational institutions, there is a significant amount of demand for their services. Workers in this industry have the advantage of benefiting from a more pleasant working environment as well as the chance to increase their pay.

Difference Between MBA and MFin

Master of Business Administration is regarded as a one-way course that will lead a student to the heights of career success. The course is so famous that most the business schools worldwide have built their reputation solely on this one course. The course teaches advanced workplace problem-solving skills, applicable in all businesses. Additionally, as a prerequisite to joining, students must have had work experience of 6-12 months in the field. MFin, on the other hand, welcomes recently graduated students to join the course, which has a duration of 12-18 months.

Most master’s courses today are costly and have high tuition fees. This can be attributed to the well-trained and experienced faculty and other necessary resources required to teach an advanced course. However, having considered all the factors, it has been found that an MFin is one of the more affordable master’s courses with a high employability percentage.

If one goes through the job market, they will find that it is made of professionals all holding the same three degrees. In order to look for a more specialized degree holder, one must go through a fine-toothed comb. The market is really saturated, and this leaves businesses empty-handed, looking for professionals who have a high degree of knowledge in finance. Master in finance holding professionals are like rare gems, which would be picked up instantly and paid high salaries.

Best Colleges for Master in Finance

Here is a list of the top 10 colleges for pursuing MFin -

S.No. University Name Program
1. Oxford Saïd Business School MSc Financial Economics
2. MIT Sloan School of Management Master of Finance
3. HEC Paris Master in International Finance
4. London Business School MSc in Financial Analysis
5. UC Berkeley Haas School of Business Master of Financial Engineering
6. Cambridge Jude Business School Master of Finance
7. ESSEC Business School Master in Finance
8. London School of Economics MSc Finance
9. UCLA Anderson School of Management Master of Financial Engineering
10. ESADE Business School MSc in Finance

 MFin Career Paths

With the rise of financial prospects, more people are looking at further degrees and wondering what MFin career paths are. The key difference between an MBA and a Master’s in Finance degree might be perplexing at times. Despite their similarities, the MBA provides a generalist education (for CPAs, for example), whereas the finance speciality permits graduates to specialize in markets and investment, among other finance disciplines.

mfin career path

But how many financial positions are there? You may earn an MFin salary by pursuing attractive careers such as financial management by earning an advanced degree. The median pay of $134,180 is possible in this position.

There are many MFin Career Paths in the form of many titles. Some of the MFin career paths are listed below:

Financial Analyst

The job of a financial analyst is like that of a detective. The analyst’s job is to collect and study financial data pertaining to the market. The collected data will then have to be broken down. Finally, the information must be extracted and used to develop financial strategies to help the organization with its progress.

Additionally, people opting for financial analysts as an MFin career path keep an eye on financial institutions to ensure that they are adhering to policy and regulations surrounding financial management and transactions. Most financial analysts are needed in the Finance, insurance, and government industries to monitor monetary transaction compliance. The median annual compensation for financial analysts is $81,430.

Financial Services Sales Agent

Financial Services Sales Agent will deal with a client in securities and commodities, which is one of the popular MFin career paths. Their job would be to make profitable sales and purchase commodities on behalf of their clients in a way that maximizes their returns on each investment. It would also include monitoring financial security and analyzing the financial market. The average annual salary for a financial sales agent is $63,961.

Financial Manager

Sometimes known as the chief financial manager, a financial manager is the professional sitting on top of all finance-related things. This is generally an executive-level job title and will give the individual to make decisions that will help keep the company’s financial goals on the right track. It is another popular Mfin Career path that Master of Finance graduates opt for.

You would generally have a team of people working under you, carrying out tasks like market analysis and budgeting. Although beginning frequently handles individual investor accounts, they may ultimately service huge institutional accounts such as those of banks and retirement funds. Furthermore, the annual salary of a financial service sales agent is approximately $67,310.

Personal Financial Advisor

Sometimes, a professional needs to do a simple task like managing one’s money and investments in the most amicable way. Personal Financial Advisors help individuals make their financial decisions and advice on future investments based on their individual goals. These may include retirement plans, insurance protection, real estate planning, and more.
The median annual income for this Mfin career path is approximately $89,330. While an MBA may be active in areas comparable to those with a Master’s in financials, there is a greater chance to specialize with a master’s in Finance.

Investment Banker

Investment banking occupations assist their clients in raising Finance in capital markets by issuing loans or selling stock in the organizations. Moreover, they work for organizations to underwrite new debt and equity securities for all types of businesses, assist in selling securities, and arrange mergers and acquisitions, reorganizations, and broker transactions for both institutions and individual investors. A master’s in finance degree would aid a person with the necessary skill of an investment banker. The return on investment in this MFin career path is higher than in most finance professions.

A job in Investment Banking entails aiding customers with mergers and acquisitions and advising them on novel investment opportunities such as derivatives. In addition, they help handle a variety of responsibilities for their prospective clients. Investment bankers at a few organizations undertake various tasks, whilst in others, staff are specialized, with various bankers executing a variety of tasks. Approximately the average annual salary of an investment banker is around $64,500.

Insurance Finance Manager

A financial Manager is to help individuals manage their finances to meet future goals. However, an insurance finance manager takes it one step further, and this MFin career path helps the professional identify the lack in peoples’ finances. Along with helping with their Finance, they will also help them procure excellent and affordable insurance for a commodity that they plan on purchasing, for example, a car. The average annual salary of an insurance finance manager ranges from $68,436 to $98,313.

Financial Consultant

Financial consultants provide customized advice to investors to help them generate wealth. They may provide financial planning, find suitable assets, and advise on insurance selections. They frequently direct the purchase and sale of investments such as stocks and bonds on behalf of their customers. Some may also offer financial services.

financial analyst

Before making any advice, a financial consultant frequently meets with customers to analyze their financial condition. When clients go through a big life transition (marriage, job shift, retirement), they will most likely seek another meeting.

A Master in Finance degree surely helps if you want to take up this MFin career path, as it will provide you with in-depth knowledge about financial management. The average annual salary of a financial consultant is $70,733.

Associate in Investor Relations

As an investor relations associate, you would work for a financial institution and handle the organization’s investor interactions. An investor relations associate may work in various departments within a financial institution, such as marketing to recruit new investors or IT to maintain technology efficiency. Approximately the typical annual pay for an investor relations associate was $62,810, with a 7% predicted job increase through 2029, making it a popular MFin career path.

Budget Analysts

Budget analysts are in charge of supporting public and commercial companies with their financial management. To become a budget analyst, a master’s in Finance after your bachelor’s degree will certainly help to establish yourself on this MFin career path. They earn a typical annual salary of $78,970, and the job outlook for this position is 3%.

Actuary

As an actuary scientist, you’ll use math, statistics, and financial theory to evaluate and minimize financial risks. The yearly compensation for actuaries is over $111,030, with an estimated 18% job increase through 2029, which makes it a popular MFin career path.

Accountant

As an accountant, you will evaluate and audit a company’s, organization’s, or individual’s financial records. During tax season, most accountants will work full-time and overtime. Many accountants strive to become Certified Public Accountants (CPAs) since it is the profession’s highest level, which makes it a popular MFin career path. The typical annual salary for an accountant is $73,560, with a 4% predicted job increase through 2029.

Credit Analyst

A firm hires a credit analyst to analyze the risk of taking a loan and to determine if a borrower can repay money borrowed to them by studying the individual’s or organization’s credit history. The average annual income for a credit analyst is $86,170, with 1.2% job growth predicted through 2029, which makes it a popular MFin career path.

Chief Financial Officer

A company’s chief financial officer (CFO) is a member of the executive team in charge of the organization’s finances. The CFO controls the company’s finances, including financial planning and cash flow. Typically, several years of expertise in a financial capacity, such as accounting, financial analysis, or financial counselling, is required to become a CFO, making it a popular MFin career path. Nonetheless, a Master of Finance degree will assist you in launching your profession. The average annual pay for CFOs is $107,680 per year, with a 4% job increase forecast through 2029.

Controller

As a controller, you will be in charge of a company’s accounting, budgeting, and financial operations. Most controllers report to the company’s chief financial officer (CFO), which makes it a popular MFin career path. The controller, often known as an organization’s head accountant, keeps track of money moving in and out of the firm accounts. Controllers make an average of $107,680 per year, with a 4% predicted job increase through 2029.

Portfolio Manager

A portfolio manager plans and manages an investment portfolio for a client. The investor(s) invest their money to use it later as a retirement fund or endowment fund. The portfolio manager employs research and analysis to arrange and manage those assets to earn the greatest money for their client. The average yearly pay for a portfolio manager is $151,510, with a 0.3% job increase predicted through 2029.

Who Should Pursue Master’s in Finance?

Students learn how to handle money, the procedures that are behind banking and financial operations, what insurance is, how real estate businesses run, and how other public organisations operate when they take finance classes. Students improve planning, synthesising, and problem-solving abilities. You are going to learn all there is to know about balance sheets, and you are going to get acquainted with the many different kinds of finance, such as public finance, corporate finance, and personal money.
 
Students who graduate with a degree in finance are adept at dealing with statistics, continually predicting current financial trends, and analysing how those trends will lead to profits. A financial expert will constantly check to see that businesses or organisations are meeting the financial requirements they have set.
 
It is correct to say that dealing with numerical information is not for everyone. However, if you do it because you like it, you will make a lot of other individuals, organisations,and governments happy. Equally as much as businesses like experiencing financial success, so do employees appreciate it when they get their paychecks on time. You have the potential to be a part of the group of people who ensure that these and a great number of other commercial transactions and activities really take place in an organised manner.

Conclusion

In today’s world, where there is a colossal need to stand out in terms of academic qualifications and be capable enough to sustain in the everlasting competition, a Master’s in Finance is a prospective career option. It equips the aspirant with both the crucial characteristics of a well-informed businessman and a potential advisor or consultant who could guide companies or firms in a fruitful direction.

The world of business is dynamic. Therefore, people in the field need to be constantly updated and should be able to comprehend the repercussions of anything and everything they do. In this chain, Finance is one of the critical factors many other elements depend on.

You may also like these Blogs