The financial services field is rife with job opportunities that provide a challenge and a desirable salary for those with an MBA. The skill set that results from an online MBA with a concentration in financial services adds an extra edge for someone seeking a job within the field.
Here is a sample of the job opportunities available for MBA graduates who want to pursue a career in financial services:
Senior Budget Analyst
Corporations typically operate within a budget, and a senior budget analyst is responsible for helping companies organize and analyze finances. In this position, an individual is responsible for monitoring and analyzing a company's institutional spending. Based on the information gathered, a senior budget analyst prepares reports and provides feedback on a company's financial situation. Additionally, a senior budget analyst compares a proposed budget to actual operating costs, and provides fact-based, researched reports to high-level executives.
A person in this role will use analytical skills, math knowledge and business experience to prepare, plan, and present a company budget and incorporate feedback. Salary.com places the median income for this role at over $86,000 per year (as of November 2, 2018).
Finance Director
The finance director might be responsible for everything from hiring and performance evaluations to leading a team in financial analysis and projection. Typically a member of the senior management team, the finance director has oversight of the financial health of the company.
Financial directors are responsible for forecasting the financial needs of a business as well creating financial reports. Since the person in this role will likely be managing a team, a firm foundation in business management is crucial. Other skills essential to the job are financial analysis and planning. Since plans and analysis will likely be presented to fellow management, public speaking skills are also useful. The average finance director salary is approximately $110,000 per year, according to October 2018 PayScale data.
Portfolio Manager
Portfolio managers work directly with clients to help them make investments that meet their financial goals. In this role, the portfolio manager's client base might consist of individuals or a selection of businesses. Portfolio managers may be responsible for creating and implementing an investment strategy and managing portfolio trading on a daily basis. A person in this role might counsel clients on best practices and outcomes.
Portfolio managers require keen insight into financial markets and their function. A working knowledge of behavioral finance and traditional finance, as well as the analytical skill set required to put together reports is essential. For this position, the current median income is around $83,000 per year, per October 2018 PayScale data.
Senior Level Cost Analyst
The senior level cost analyst position suits those interested in determining and analyzing the cost of a company's programs, departments and/or products. Individuals in this role provide detailed analyses and estimates in a specific area of business determined by the company's senior managers. A senior level cost analyst might work alongside the director of finance or budget analyst to allocate funds and implement cost-effective measures in a particular department or for a specific area of the business. This role might require an individual to conduct reviews or audits from time to time.Those aspiring to the role of senior level cost analyst will need to know how to create cost projections based on analysis and present findings in a succinct and relatable way using evidence and mathematical evaluation. They may also be required to guide a team. These professionals must be adept at determining next steps and plans based on financial data. For this role, the median salary is just over $85,000 annually, per November 2018 Salary.com data.
The titles above are just a small sampling of the diverse roles available. An MBA focused on financial services provides candidates with the skills and knowledge needed to excel in any of these roles.
Learn more about the UNC Pembroke online MBA program with a Concentration in Financial Services.
Sources:
PayScale: Master of Business Administration (MBA), Finance Salary
Salary.com: High Income Consulting Services
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