Graduates from a Master of Business Administration (MBA) with a Concentration in Finance program enjoy many potential career options. The online MBA with a Concentration in Finance degree program from Texas A&M-Corpus Christi (TAMU-CC) combines advanced business education with a focus on finance, giving students the chance to move into high-level, high-paying financial jobs in a variety of industries.
MBA graduates hold financial positions within companies of all types. Some of these positions offer annual salaries nearing $100,000 or more. Plus, bonuses and other types of additional compensation can add substantially to base salaries, especially in high-stakes finance jobs.
Here are five examples of potential jobs for MBAs in finance:
1. Financial Analyst
A financial analyst works with a company’s investments and wealth strategy. Analysts help prepare regular reports on an organization’s financial situation and make suggestions on future actions. The role requires a thorough understanding of current financial markets as well as the organization’s current investments, the safety and risk involved in those investments and how they can affect the organization’s growth in the short- and long term.
Companies typically employ both junior and senior analysts; graduates of an MBA in finance program often join companies at the senior level, which comes with more responsibility as well as a higher salary. According to the U.S. Bureau of Labor Statistics (BLS), financial analysts made a median annual salary of $95,570 in 2021, with the top 10% making more than $166,560 annually.
2. Chief Financial Officer (CFO)
The chief financial officer (CFO) of a company is generally in charge of the finance and accounting departments. The position requires strong leadership skills for managing departments and employees. In addition, the CFO plays an instrumental role in the financial health of the company. CFOs help develop budgeting and accounting policies, ensure compliance with tax guidelines and coordinate financial efforts within the company.
In addition to an advanced education, companies often require CFOs to have extensive experience. CFO is one of the highest-paying jobs for MBA in finance graduates, with median 2021 salaries of $179,520, according to BLS data on chief executives. The median salary of the top 25% of earners exceeds $208,000, the upper end cutoff of BLS’ median salary data.
3. Financial Manager
Financial managers, as the name suggests, manage a company’s finances. This can include working with departmental budgets, making financial forecasts, overseeing the company’s investments and other finance-related tasks. Finance managers are responsible for meeting deadlines, delegating work and presenting information to other members of the organization. Because they work with their own staff as well as people from other departments, team-building, leadership and communications skills are all important.
Businesses, nonprofit organizations and government offices all employ financial managers. An online MBA with a Concentration in Finance can provide opportunities for rapid career advancement to managerial roles in the finance department. BLS reports that financial managers earned a median annual wage of $131,710 in 2021, with top earners exceeding $208,000.
4. Financial Controller
Also known as a comptroller, a financial controller shares many traits with a financial manager. Financial controllers manage activities and departments related to finance, such as budgeting, audits and accounting. They also create financial documents — such as summary and forecast reports and profit and loss statements — and are responsible for submitting documentation that regulatory and government agencies require. In addition to advanced financial and accounting knowledge, problem-solving and communication skills are important for financial controllers.
Education and experience are both necessary for financial controllers, but a certified public accountant or similar license may also be necessary. Financial controllers may work for governments, often in an elected office. BLS considers the financial controller position to be under the umbrella of financial managers, with the same 2021 median salary of $131,710.
5. Vice President of Finance
A vice president (VP) of finance has many of the same job responsibilities as a CFO. In some companies, the titles are interchangeable. Both positions report to a corporation’s board of directors and are responsible for directing and overseeing financial matters within the company. Larger corporations may have both a CFO and a VP of finance. In this case, the VP of finance is usually involved with managing the company’s finances. The CFO is more focused on overall financial strategy and future growth.
As a similarly high-ranking position, VPs of finance need many of the same skills as CFOs. Leadership and the ability to manage employees are essential skills. The salary range for VPs of finance is also similar. According to ZipRecruiter data from March 2023, the majority of Vice President Finance salaries fall between $128,500 and $200,000, with a national average salary of $166,354.
Jobs for graduates of an MBA – Finance program like TAMU-CC’s often require similar skills and duties, but they may also require different areas of focus and levels of responsibility. All these finance jobs can pay well, many having six-figure starting salaries. With the possibility of bonuses, profit sharing and further career advancement, high-level finance jobs offer the determined, MBA-equipped professional considerable opportunities for even higher earnings.
Learn more about TAMU-CC’s online MBA with a Concentration in Finance program.