Is a Masters in Finance worth it?
Students work hard for three to four years in a graduate course because all of them are aiming to make a good and successful career for themselves in the future. Their employability after having completed a bachelor’s degree depends on many factors like academic prowess, attitude towards work, willingness to learn, etc.
Unfortunately, even though a bachelor is a good stepping stone towards finding work, it does not qualify students to apply for high ranking jobs and may have them stuck in a low-level post with limited chance of growth.
One of the popular ways to score a beneficial post while applying is to up your game by going for a Master’s course. A post-graduate (Master’s) course develops a student’s skills further than the basics they have covered in an undergraduate course as the curriculum is more practical application-oriented.
In order to gain the most out of a Master’s course, students must make the choice of field carefully. There are many fields of study out there which have been considered as the best for aspiring professionals like Masters in Business Administration and Masters in Management.
One course that doesn’t see much traffic in Masters in Finance. It is a very important field of study which has beneficial applications in the business world. In the following, we will look into some of the advantages of a Master’s in Finance and why it is a worthy path to follow.
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What is Masters in Finance?
Finance has been a part of the business environment ever since it first took form. Money has a tendency to never staying still. It is always in a state of transit, as is its nature. Money changes hands and moves from one entity account to another constantly. Money is a very loose term to signify all assets that an entity owns. The field of study which keeps track of all such assets and ensures profitable yield on them is called Finance.
It has become an integral part of everyone in today’s world, businesses, and individuals alike. Entities must be aware of how their money is being sent and how much of it is a profitable endeavor. Professionals who are learned in the craft of Finance can help individuals with managing their money correctly.
The field of finance can be divided into three subsections depending upon the entity’s structure; corporate finance, personal finance, and public or government finance. Personal finance includes the study of financial structures surrounding an individual. This may involve analyzing their income and expenditures, investments, take stock of their assets, help them choose insurance and retirement plans, etc.
Corporate finance is the most famous form of financial study which students opt for. It deals with the study of the financial structures of companies involved in the business. The job would require for the professional to advise on investment opportunities, procure investors for the company, manage finances, and find capital in order to begin a new venture, etc. The reason why this is the most famous branch of financial study is due to the current market requirement. Corporate finance specialists have high employability and are paid handsomely.
Government (public) finance is the field of study which deals with financial structures involving an entire country. As citizens of a nation who work and earn their living in the country have to give back some to the government in the form of taxes. The procedure of paying taxes is a tedious and confusing one and this is where government finance comes in.
Advantages of Studying Masters in Finance
One of the most famous master’s courses in today’s time which is preferred by graduates of business studies is Masters in Business Administration. The course is very beneficial for a multi-tasker, as the course’s curriculum is focused on creating a leader in the business environment, which means learning a little of everything. Though it has its advantages, this leaves a large hole with respect to expertise. Master in Finance focuses on only one field of study and puts all of its efforts into teaching advanced topics of finance.
No Work Experience Necessary
Most of the master’s courses are designed for professionals looking to add more to their resume. It is frequented by professionals who have already seen what working in an office space looks like. Therefore, almost all universities, when excepting students for admission work experience of a minimum of 2-3 years is a standard for courses like MBA. Master of Finance is a course that does not require the student to gain work experience first and can be applied right after completing graduation.
Short Course Duration
As discussed above, most of the popular courses like MBA focus on creating a well-rounded leader in the business world. This means focusing on the many parts of what goes into running a business. This is a very time-consuming process, as each new topic brings with it new academic challenges. This is why most MBA course is for a minimum of three years. Masters of Finance focuses on only one field of study, which reduces the overall duration of the course. On average, a Master’s in Finance course can be completed in 12 months.
Job Rich Environment
The job market today is saturated with professionals all of whom would have earned a master’s in the top three degrees preferred by students today. This saturates the market a lot and a lot of the specialist opening remains empty. As a Master’s in Finance professional, you would be bringing something new to the table. You would be considered for job titles kept aside for professionals who specialize in specific fields.
Job Opportunities after Masters in Finance
As a professional who has completed their education in Masters in Finance, you will be open to a set of finance jobs that are made specifically for someone who has your skill sets. These jobs are exclusive and can put a student on a very productive career path. The following are the top 3 job titles that one can apply for after completing the Masters in Finance.
Senior Financial Analyst
A Senior Financial Analyst is a very important job in any company. It would require the professional to perform day-to-day ledger accounting related work along with analysis for an assigned functional area. They would also be required to have frequent communication with supervisors.
Commercial or Investment Banker
An investment banker is a post that is generally given to professionals who work at an Investment bank. Their job is to advise companies, organizations, and even individuals in dealings with raising capital for them. This would be achieved by buying and selling stocks. Banks like JP Morgan Chase, Morgan Stanley, and Goldman Sachs are well known in this field.
Chief Financial Officer
Chief Financial Officer, or CFO, is the highest post that can be awarded to a financial professional in a company. Their job title would require them to monitor and plan the finance of the entire company. They would also be required to do a financial risk assessment, record-keeping, and reporting their findings to the higher-ups. They are the spokesperson for all things financial and would be exclusively involved in all financial decisions.
As can be seen from all of the above mentioned, not only is finance an important field of study but Masters in Finance professionals are an invaluable asset which is low in number right now. Therefore, anyone who opts for Masters in Finance would benefit seven folds from pursuing this carer path.
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