Top career opportunities for those with a master’s in finance
If you’re the type of person who gets excited by budgeting, stock markets and investments, then a career in finance may just be the path for you. Because of the depth of knowledge required in the field, you’ll need some formal training on the subject. Obtaining a Master of Science in Finance equips you with a plethora of insight into the world of business and financial markets.
The finance industry is continuously growing, and there are many career options available to those with a finance degree. Your choice of path will come down to your interests and career goals. Here are some of the top career opportunities for those with a master’s in finance.
How To Obtain a Master’s in Finance
There are many options available for you to obtain a master’s in finance. If you’ve got the capacity to attend school full-time, then you can enroll in an in-person course. Alternatively, you can opt for an online finance masters degree. It allows you to work around your current job schedule and obtain the degree at your own pace.
Career Opportunities in Finance
1. Financial Risk Manager
If you’re intrigued by statistics and analyzing data, then pursuing a career as a financial risk manager is a great fit. Every company or business will look to increase its revenue by investing funds for high financial gain. As a financial risk manager, you will advise the company on their investments and analyze the risks and possible returns.
They also help companies to direct their financial spend in avenues that will deliver a higher ROI. For example, if you’re advising on the marketing budget, you can analyze previous marketing campaigns to determine where it’s most profitable to allocate spend.
Some of the tasks of a financial risk manager include:
- Predict risks in the market
- Flag any threats to company assets
- Analyze earning capacity
- Advise on the high return and low risk, investment opportunities
- Allocate budget to areas with higher ROI
As a financial risk manager, you can work in a variety of different sectors, including marketing, banking, sales, trading, and financial services.
2. Financial Analyst
Financial analysts are essential to the success of any company or business. When a risk manager advises on investments, an analyst’s job is broader. Companies rely on the expertise of financial analysts to make crucial choices regarding their finances. They will study all the data and use it to provide actionable steps for the business to better their financial standing.
Since the market is ever-changing, a financial analyst will need to be adaptable. They will need to to stay up to date on economic trends and continuously seek to improve their understanding of the market.
As a financial analyst, you will:
- Analyze budgets and identify areas where the company can make cuts
- Assess income statement forecasts generate reports on the data
- Meet with company executives to discuss financial strategies
- Help set short and long-term growth goals for the company
- Analyze performance data of competitors and compare to companies’ data to identify the companies standing within the industry
A financial analyst is a career path for those who like to dive into data, create reports and aid in the growth of businesses.
3. Financial Planner/Advisor
Becoming a financial planner is an ideal career path for those who like to work more closely with clients and is different from an analyst. Rather than focusing solely on significant corporate finances, a financial planner works with their clients to create business plans based on their goals. Corporations will need financial planners as well, but you can choose to work with individuals as well, depending on your preference.
As a financial planner, you will help your client to get their finances in good order and help them budget for the future. You will set up plans based on their income and outgoings to allow them to save and invest properly. Since financial analysts work directly with their clients, excellent communication skills are also crucial to this career path.
Topics you will cover with your clients as a financial planner are:
- Taxes and tax planning
- Future goals
- Long term care plans
For those who are interested in finance, but want to focus on relationship development, rather than just analysis, a financial planner is the perfect career path.
4. Real Estate Agent
Working in real estate may not be the first career that comes to mind when you think of working in finance. But those with financial education and an interest in numbers will thrive in a real estate position. Real estate revolves around sales, and sales are a branch of finance. Whether you choose to go the commercial route or stick to residential, there are enormous opportunities for high commission earnings.
Real estate agents help their clients to assess their finances and work out the best way to fund the purchase of a property. They’ll need to understand their clients and research properties that fit both their needs and budget. On the other side, real estate agents will work with those selling their homes to help them price, market and negotiate the sale.
Some primary tasks that a real estate agent performs are:
- Generate client leads
- Advise clients on the current condition of the market, as well as on prices.
- Take part in negotiations between buyers and sellers
- Draw up contracts and deeds for property sale
- Research and remain up to date on current listings and the real estate market in general
Real estate agents can work with buyers and sellers of all types of property including houses, apartments, offices, businesses and more. A master’s in finance will give you the tools and knowledge to pursue this career path.
5. Public Accounting
If you’re a finance major that has strong organizational skills and attention to detail, you will make a great accountant. Public accountants can choose to work with large companies or one on one with individual clients based on preference. They will keep track of all transactions, handle tax returns and audit records to ensure accuracy.
With a master’s in finance, you’ll have the skills needed to interpret financial data thoroughly and present it to your clients in a way they can understand. As a public accountant, you’ll also offer consulting services for companies, small businesses, and individuals regarding their expenses. Attention to detail is vital since you’ll need to organize a lot of information and ensure it is all entirely correct. There’s no room for error in accounting, so accuracy is key.
As a public accountant, some of the tasks you’ll perform are:
- Preparation and verification of financial documentation
- Filing income tax returns
- Audit all records
- Analyze budgets
- Provide financial advice
There is much room for growth in the field of public accounting. All businesses need accountants, and you can choose to specialize in an industry that interests you. If you like interaction and building relationships with clients, you can choose to work with individuals. If you’d prefer a more formal route, you can stick to large corporate clients.
These are just a few of the many career paths you can pursue with a master’s in finance. The opportunities are endless, and with this degree, you’ll have a wealth of options based on your interests. Beyond the five careers mentioned above, you could also work as the following:
- Investment Banker
- Insurance Specialist
- Mortgage Broker
The Benefits of Pursuing a Career in Finance
Regardless of which career path you choose, obtaining a Master of Science in finance will open many doors for you. The financial industry is thriving and growing at a tremendous rate. Investing in a master’s in finance is something that you won’t regret since there will always be many job opportunities available. Beyond that, you will learn skills you can apply to your own business if you choose to go that route eventually.
Here are a few of the benefits of pursuing a career in finance:
1. Job Security
Skills in finance are in high demand, and therefore you’ll have no problem securing and keeping jobs. Since every business or company needs experts in this niche, there are many job opportunities available. Regardless of your location, you’ll never need to worry about being out of work.
2. High Salaries
Even in an entry-level position, careers in finance offer excellent salaries. Since the demand is high, you can expert high earning and the potential to negotiate for what you’re worth. On top of that, the longer you work in the industry, the higher your pay will get. Those building careers in finance have some of the highest paying salaries available.
3. Variety of Career Options
The finance industry is so broad that you can find a role that suits your interests and passions. Every company, business and individual needs financial services in some way. There is no shortage of options for you to pursue, and you can be selective in terms of your preferred niche. If you’re interested in the food industry, you can choose to work with restaurants. Or if you like to travel, work with travel companies.
Obtaining a Master of Science in finance is an investment in your career and your life. With so many career options available and infinite opportunities for growth, the financial sector is one of the best industries to get in to.