Is an MBA in Finance Worth It? | DeVry University (2024)

FAQs

Is an MBA in Finance Worth It? | DeVry University? ›

Earning an MBA may also help you increase your professional network, develop your world perspective and help to differentiate you as a job candidate. Indeed also notes that a well-developed professional network is vital to your pursuit of a successful career in financial management.

An MBA in finance can lead to various career pathways. Students acquire knowledge and skills transferable to many fields and industries. Potential positions include chief financial officer, director of finance, certified public accountant, investment banker, corporate strategist and financial controller.

Yes! Graduates of MBA programs command a much higher salary than students with a bachelor's degree, and it makes financial sense to earn that higher salary for as many years as possible. In 2021, the median salary of MBA graduates was $115,000, 77% more than those with a bachelor's degree ($65,000).

Because of the broad skill set provided by an MBA degree, graduates can often easily transition across industries to find roles that fulfill them. Graduates of a Master's in Finance program typically work in finance-specific roles, such as investment banking, financial analysis, wealth management, or risk management.

Generally, you can expect a nearly 50% increase in your salary after completing an MBA. A study from Transparent Career showed that MBAs reported about a 46% increase in salary after earning their degree, with a $41,000 average higher salary, and $95,000 extra in total compensation.

While they share many similarities, the important distinction is that an MBA is simply a type of master's degree in general business administration, while a master's degree in business involves more concentrated study in areas like accounting, business analytics, or human resources.

If you believe in the value of professional development, lifelong learning, and growing as a contributor and leader—then it's never too late. As you age and your goals change, an MBA can still provide valuable opportunities, be it through a career change, a promotion, or simply adding more value in your current role.

Class of 2023 MBA grads are still struggling to find jobs nearly a year after graduation. At Harvard Business School, only 86% of Class of 2023 job seekers received offers within 90 days—a significant slowdown compared to the 95% job placement rate for 2022 and 96% for 2021.

Pursuing a Master's in Business Administration (MBA) degree demands more than just financial and time investments; it also requires mental preparation. The rigors of MBA requirements can pose significant challenges, yet the potential outcomes can profoundly enhance both professional and personal aspects of life.

Which is better a CFA or Masters in finance? ›

If you are primarily interested in managing wealth for institutions or in an institution such as a mutual fund, then the CFA and/or a Master's are the most recognized. If you are primarily interested in working for a company as a financial analyst, financial manager or in a similar role then a Masters is a good choice.

Traditional MBA programs take two years to complete, but even these programs typically allow part-time students to earn the degree in four or five years by offering night and weekend classes.

A master's degree offers a great way to get a foothold in finance and be a key player within any business. You can even explore different industries, finding a plethora of opportunities everywhere: hospitality, tech, healthcare, logistics, etc.

When considering why should I get an MBA, here's the short answer: At any age or experience level, an MBA demonstrates that you're committed to growth, helps you communicate across silos to work more strategically, and gives you an understanding of how the different functions of business connect to one another.

Although most large private equity firms look exclusively for job candidates with an MBA, you can still get into a smaller firm without one. Smaller firms prefer candidates with an MBA, but it's not always a requirement.