9:59 AM MBA in Finance | TopMBA.com | ||||
For those seeking a career that deals with money, an MBA specialization in finance can prove to be invaluable. It is a career field which requires one to possess skills in mathematics, economics, and financial theory, all of which are covered in great detail in a finance degree, specialization or track. A finance MBA prepares students for careers in:
Since you’ll be dealing almost exclusively with numbers, mathematics is an essential part of any finance degree. Courses focus on investment, investment strategy, local and global economics, mergers acquisitions (M&Amp;A), corporate risk insurance and financial theory. While courses vary from school to school, finance MBAcourses typically include:
Typical coursework and projects include financial modeling, global macro and micro economics, private equity projects, stock market pitch projects, entrepreneurship projects based in mergers and acquisitions, real estate investment, development and design, and investment strategies. International economics programs will, obviously, require a bit of international travel. The Wharton School. for example, has campuses and programs in conjunction with other business schools around the world, which makes it very accessible to anyone who is looking to take their MBA in finance onto a more global setting in their future endeavors. An MBA in finance will prepare students for senior level and management jobs in the financial sector, with courses focusing more on management, communications, marketing, business leadership and organizational behavior. Almost all MBA programs require the GMAT or GRE for acceptance. An MSc in finance, on the other hand focuses more on technical and operational competencies, with classes such as linear algebra, differential equations and multivariable calculus taking precedence over management skills. Generally, an MBA in finance is geared more for leadership positions in the financial sector while an MSc in finance – generally more targeted at pre-experience candidates as well as those looking to move into specialized technical roles – is better suited to candidates moving into operational functions. Where an MBA in finance might pave the way to a CFO or hedge fund manager role, an MSc in finance might be appropriate for actuaries, economic theorists, economic behavioral modeling and financial analysts in the making. A strong background in mathematics is required for an MBA in finance, on top of the usual communication and managerial skills demanded by the MBA qualification as a whole, and a minimum of two years of experience for entry to most schools. Finance is an ever-popular discipline, so getting into a top school will require a competitive GMAT score. Average scores for top business schools can be well in excess of 700 (in North America in particular). Since finance programs are looking for the math savvy, most schools are looking for quantitative section numbers in the 40-60 range; Wharton, for example, has an average quant score of 47. Every school includes at least a few finance courses in their core MBA curriculum. These are generally quite broad overviews that give students the skills and vocabulary they need to communicate in the finance sector, monitor the finances of a company and generally ensure a firm remains in rude financial health. From this base, courses then tend to move on to more advanced topics such as financial analytics, financial policies, macro and microeconomics, and business transactions such as hostile takeovers and mergers acquisitions. An MBA in finance covers these broad areas but will also delve deeper into the ideas that these subjects touch upon. Classes cover areas such as securities, hedge funds, international finance, international financial markets, risk management, portfolio management and small and large business finance. While an MBA in finance typically prepares graduates for a broad range of careers, some business schools offer a deeper specialization for those with a particular field of interest in mind. A Certified Public Accountant (CPA) specialization allows holders to practice accountancy as an individual, or as part of a corporation. Many independent CPAs deal with tax services, personal wealth, personal investments and smaller amounts of money on the private side. When working for a larger firm, the CPA specialization means that certificate holders will operate in the financial arm of the company, particularly with taxes, corporate money, wealth management and other investment and monetary based roles. The Certified Financial Adviser (CFA) works both publicly and privately with either individuals or companies to help them make wise investments and purchases, build investment portfolios, and generally manage their money. A Certified Management Accountant (CMA) handles almost all of the financial aspects of a company, from forecasting the profit margins of specific projects to advising directors on the best means of achieving financial growth and protecting their company from potential risk. International finance is not only a huge sector, but, according to the QS Jobs Salaries Trends Report /15, a growing one as well. Specializing in this field opens up opportunities in international investment, banking and taxation, as well as allowing international financiers insights into developing markets. Financial economics focuses more on microeconomics in terms of optimization, equilibrium and comparative statics. This specialization is more observational, looking at the models of how producers and consumers function in a given economy. Corporate finance is where most finance MBAs will be looking to end up, as a fund manager for instance, or financial personnel manager. Topics within corporate finance are typically focused on how to grow the corporation’s capital by means of mergers acquisitions, financial forecasting, managing investments and managing investment strategies.
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