Due to its lucrative career potential, challenging analytical nature and the excitement and prestige of managing wealth, finance is a popular field of study and employment. If you are thinking about majoring in finance, you might wonder how much education you will need for the career you want. A bachelor\u2019s degree is the required education for most finance roles. However, earning a Master of Business Administration (MBA) in finance or specialized Master of Finance degree can help students advance their careers into leadership roles, prepare for professional certification exams and command higher salaries.<\/p>\n
Finance<\/a> is the study of money. This field of business, which looks at assets and liabilities, is one of the most technical and analytical of the business majors. Students of finance learn how to manage money for growth through educated forecasting of investment potential and strategic financial planning and decision-making. Bachelor\u2019s degree programs in finances usually include core coursework in other business subjects, such as accounting, management and marketing. \u00a0The major coursework for a finance student<\/a> might include with studies in financial management, corporate finance, international finance and investment and portfolio management.<\/p>\n A bachelor\u2019s degree is all the education you need to get started working in jobs like financial analyst<\/a>, personal financial advisor<\/a> and loan officer<\/a>, according to the United States Bureau of Labor Statistics (BLS).<\/p>\n RELATED: What Degree Do I Need to Be a Mortgage Loan Officer?<\/a><\/strong><\/p>\n High-paying finance careers<\/a> such as investment banker, venture capitalist, commercial banker and hedge funds manager often appeal to candidates with a bachelor\u2019s degree in finance. Other jobs with a finance degree<\/a> include financial services sales agent, the category which encompasses roles such as investment banker, broker and financial consultant. If you would like to put your finance education<\/a> to work in a more general business role, management analyst or management consultant is another option to consider.<\/p>\n A bachelor\u2019s degree can prepare you for a role as a financial examiner, but the educational requirements for this job have more to do with accounting than finance, the BLS<\/a> reported. Incorporating accounting and economics into your studies can add to your career options. <\/strong><\/p>\n If so many great careers are open to you with only a bachelor\u2019s degree, why should you spend the time and money to complete a Master of Finance or MBA in finance degree? There are significant benefits of going to graduate school for finance<\/a>. One reason finance professionals choose to advance their education is to get ready to work in a managerial role. While it is possible to become a financial manager with only a bachelor\u2019s degree, the BLS<\/a> acknowledges that a lot of employers today look for candidates who have a master\u2019s degree along with five or more years of finance work experience. Shorter, more specialized Master of Finance degree programs, which often take just one year to earn, are seeing especially high demand among employers, according to U.S. News & World Report<\/a>. Earning your Master of Finance degree can put you on the path to roles such as financial controller, finance officer, treasurer, cash manager, credit manager, insurance manager or risk manager.<\/p>\n RELATED: How Long Does It Take to Get a Business Degree?<\/a><\/strong><\/p>\n In the business and finance career field, many occupations see a wage premium, or pay raise, for holding a master\u2019s degree, according to the BLS<\/a>. The most pronounced increase is in the case of securities, commodities and financial services sales agents, who are also known as stockbrokers<\/a>. In this career, the median wage with a master\u2019s degree is 89 percent, or $80,000, more than the median salary for those with a bachelor\u2019s degree. Though not quite as drastic, financial managers, too, see a big increase in earning potential when they go to graduate school. Financial managers with a master\u2019s degree earn 41 percent more than their counterparts with only an undergraduate education.<\/p>\n For some graduate finance students, earning a master\u2019s degree isn\u2019t just an achievement in itself, but also a means to achieving a different end: becoming certified. Attaining a professional certification such as the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) credential can considerably boost your career. However, getting certified isn\u2019t easy. Both certifications require students to earn a passing score on lengthy professional exams, and the CFA exams, in particular, are notoriously difficult. Studying finance at the graduate level<\/a> can help you prepare for the challenging CFA exams.<\/p>\n As a whole, financial managers enjoy a median annual wage of $125,080, according to the BLS. <\/strong><\/p>\n Additional Resources <\/em><\/strong><\/p>\n How Long Does It Take to Get a Degree in Finance?<\/a><\/p>\n What Kind of Job Can You Get With a Degree in Finance?<\/a><\/p>\n What Is the Salary Potential for Someone With a Finance Degree?<\/a><\/p>\n What Classes Will I Have to Take for a Degree in Finance?<\/a><\/p>\n What Is the Difference Between the CFA Certification and a Master\u2019s in Finance Degree?<\/a><\/p>\n What Is the Difference Between the CFA and CFP Certifications for Financial Specialists?<\/a><\/p>\n What Are the Benefits of Earning a Master\u2019s in Finance Degree Instead of an MBA?<\/a><\/p>\nWhy Earn a Master\u2019s Degree in Finance<\/h2>\n