A master of finance degree can help students advance their careers much faster than a bachelor’s. Their salary potential can reach six figures depending on their chosen career path.
Choosing an accredited graduate program is another factor in earning potential. To find the best program for you, look for programs that have made high rankings on authoritative ranking lists.
Financial Advisor
With a master of finance degree, you can pursue roles like financial analyst, personal financial advisor, or investment banker. While these positions don’t pay as high as the salary of a financial manager, they can still offer a strong return on your graduate degree investment. Ultimately, however, your salary potential depends on your job and the skills and knowledge you bring. Whether you pursue a master of science in finance or a bachelor’s degree in economics, your career path will determine how much money you can make as a professional.
If you are looking to earn more than the average salary for a finance graduate degree, consider making your master’s at a business school with a prestigious reputation.
Other ways to boost your earning potential include obtaining additional certifications. For example, you can become a Certified Public Accountant (CPA) by passing a rigorous exam. Other popular options for master’s graduates include becoming a Certified Treasury Professional (CTP) or earning the Certified Financial Planner (CFP) designation. These credentials will further differentiate you from other finance professionals and help you gain a competitive edge in the job market.
Financial Analyst
With the world’s economies snowballing, finance professionals are highly sought after in many industries. With this in mind, pursuing a master’s degree in finance is often considered a way for professionals to boost their salary potential and secure more lucrative jobs. However, prospective graduate students should carefully research the salaries that accompany particular finance careers before making decisions. For example, a financial analyst can earn high wages in some sectors, but the wages may be low in other positions, such as investment banking.
The salaries for finance professionals can be significantly higher than the median wage, but these figures will depend on various factors, including industry and location. For example, top corporations need financial professionals to interpret data and help them make important decisions about long-term goals, capital improvements, and risk management.
Whether one chooses to work in banking or another area of the finance industry, graduates will find that their salary prospects are pretty good. With a master’s degree in finance, graduates can apply for roles like investment banking, asset management, consulting, venture capital, and private equity. Some of these roles offer starting salaries in the six-figure range. Finance graduates can also choose to work on the ‘buy side’ or the ‘sell side’ of the financial sector, depending on their interests and qualifications.
Investment Analyst
Investment analysts are employed in investment banks, financial institutions, and insurance firms. They are skilled researchers and multitaskers able to work under pressure. They also have basic IT skills to generate reports and use data analysis software such as Excel and Visual Basic for Applications (VBA).
These professionals research companies to help fund managers make investment decisions. They use information from various sources, including company financial statements, price developments, and sector data. They also consider macro information such as economic trends, political events, and global supply chain links. They can develop and apply complex spreadsheet models to evaluate potential investments and securities.
Often, entry-level investment analysts start in junior positions working under senior team members. It allows them to gain the experience and knowledge needed for a career as a senior analyst. The salary of investment analysts can vary greatly depending on the employer’s size. Larger firms often offer graduate trainee schemes with structured training programs and on-the-job learning opportunities.
Those who want to become an investment analyst should be prepared for long hours and travel.
Financial Planner
The highest salaries for Master of Science in Finance graduates are found in financial management positions. These professionals analyze business trends and help individuals and organizations make sound investments and financial decisions. They can also monitor existing budgets and provide recommendations for future spending. They often work in investment banking or as personal financial advisors, according to the Bureau of Labor Statistics (BLS).
While earning a graduate degree certainly impacts salary potential, prospective students should consider more than just their Master of Science in Finance salary when choosing a program. It’s crucial to find out if the program they feel is accredited, offers extracurricular opportunities and internships, and has a good reputation in business.
Those who complete the most prestigious Masters in Finance programs are most likely to find jobs in investment banking, where salaries can reach $134,000 or more per year. However, many jobs in this area require long hours, so those concerned with work-life balance should be cautious about pursuing this path.
Some Master of Finance programs is available through accelerated track options that offer a shorter timeframe to graduation. However, those earning their degrees through accelerated programs may miss valuable networking and internship opportunities. In addition, the more reputable schools often have more resources for their graduate students, such as mentorship programs.
