You’re already interested in taking your finance career to the next level, but which degree suits your goals the best? An MBA in Finance and a master’s in finance are both graduate-level degrees that can boost your career prospects, but these degrees have key differences that can lead to varied outcomes and salary potential. Which one is right for you? Read more to find out.
MS in Finance vs MBA Curriculum Details
A master’s in finance offers a specialized focus on financial processes and tools. Curriculum includes topics in financial theory, econometrics, modeling, analytics and valuation. You’ll learn complex and technical subjects such as how to analyze the economy to predict financial trends, model an organization’s financial performance and assess an organization’s market value.
You’ll also learn technical financial skills with an MBA in Finance, plus business and leadership techniques. Gain a thorough understanding of financial management, behavioral finance, decision-making and more. You should look for an MBA accredited by the Association to Advance Collegiate Schools of Business (AACSB International), which means that the degree meets the high standards of the world’s leading business schools and programs.
Typically, both degrees can be completed in about two years, although some universities, such as the University of Northern Colorado, offer accelerated completion options. The University of Northern Colorado online Master of Business Administration in Finance can be completed in just 12 months with 7-week course sessions. Plus, the program is AACSB accredited.
Master’s in Finance vs MBA in Finance Career Outcomes
When you’re choosing between these two degrees, it’s important to consider the career outcomes. What career path would you like to pursue? A master’s in finance can lead to several positions that focus on technical financial expertise. According to U.S. News & World Report, potential careers include:
- Actuary: Study financial risk utilizing technical financial skills such as mathematics, statistics, valuation and analytics.
- Financial analyst: Identify trends in the economy and the market and also prepare financial reports and analyze their organization’s financial performance.
- Financial examiner: Ensure that an organization complies with appropriate regulations so that the organization’s financial information and clients remain safe and secure.
- Investment banker: Negotiate financial deals, oversee acquisitions and mergers and provide financial advice to organizational leaders.
- Wealth manager: Help those with a high net worth manage their money and make strategic financial choices.
With an MBA in Finance, career opportunities move toward leadership and management. With your MBA plus experience, you could also qualify for roles at the executive level. According to Indeed, some of the positions you’ll be able to pursue are:
- Chief financial officer (CFO): Make financial decisions on behalf of an organization while considering debt, equity, profit and revenue.
- Director of finance: Oversee accounting functions in an organization, train finance staff, put together budgets and study an organization’s financial trends.
- Financial controller: In organizations without a CFO, the financial controller is typically the highest-level financial manager who oversees all financial assets and transactions.
- Investment manager: Collaborate with private investors, maintain financial portfolios, manage investment decisions and investigate investment opportunities.
- Vice President of finance: Manage an organization’s financial assets and supervise a team of finance professionals within the organization.
Advancement and Salary Potential for Master’s in Finance vs MBA in Finance
Graduates with their master’s in finance often start out in roles such as the ones listed above. They can advance to leadership in roles that utilize technical skills and expertise, such as a financial manager. They can oversee teams of actuaries, analysts, bankers, examiners and more.
With an MBA in Finance, graduates can start out as managers and advance to mid-level and executive leadership positions such as department heads, vice presidents and directors. Their business acumen is a crucial part of their enhanced advancement opportunities and usually leads to a higher salary potential than leadership with a master’s in finance.
Overall, salaries for MBA in Finance graduates are higher than those with their MS in Finance. According to Payscale, salaries are usually higher, on average, for the MBA in Finance. MS in Finance degrees bring in an average base salary of $81,000 per year, while MBA in Finance degrees earn an average base salary of $108,000 per year.
Master’s in Finance Salaries
- Actuary: $103,738 average base salary
- Financial analyst: $101,910 per year
- Financial examiner: $90,400 per year
- Investment banker: $115,461 average base salary
- Wealth manager: $96,501 average base salary
MBA in Finance Salaries
- Chief financial officer (CFO): $144,563 per year, according to Indeed
- Director of finance: $124,726 average base salary
- Financial controller: $253,000 median annual salary
- Investment manager: $122,714 average base salary
- Vice President of finance: $149,805 per year, according to Indeed
Salaries can differ based on years of experience and specific positions. More experience typically leads to a higher salary, and management roles tend to earn more than roles without leadership responsibilities.
Which Degree Is Right for You?
As you make the pivotal choice between an MBA in Finance vs a master’s in finance, ask yourself these questions:
- Do you need to build highly technical mathematics and analytical skills for your career?
If so, you can choose either an MBA in Finance or a master’s in finance. - Would you like to add leadership skills to your degree and become a manager, director, or executive?
If so, choose an MBA in Finance. - Which degree offers more advancement opportunities?
An MBA in Finance can open doors to higher levels of leadership over time. - How can I increase my earning potential as high as possible?
Salaries for MBA in Finance careers are often higher than salaries for master’s in finance careers, although salaries can vary based on the organization and considering your years of experience.
Discover a Leading Edge, Accelerated MBA in Finance
Expand your knowledge of financial industry fundamentals and prepare to join the ranks of market-moving finance professionals. In the University of Northern Colorado’s AACSB-accredited, online MBA in Finance, you’ll receive a mix of conceptual and applied activities to leverage your professional experience and ensure career-relevant learning.
Learn how to use financial modeling to prepare and position investor pitches and gain hands-on experience using data analysis techniques to interpret financial data, develop your ability to build and manage a portfolio and conduct risk-return analysis for financial and corporate investments. Plus, gain the skills you need to manage financial assets and teams of finance professionals. Coursework covers topics included in the Chartered Financial Analyst (CFA) exam. Study online while you continue to work and finish your MBA in Finance in as few as 12 months.
Gain Strategic, Analytical, and Leadership Skills to Move into High-Impact Roles in Corporate Finance and Consulting. Earn Your MBA in Finance Online.
