The field of finance is expected to grow rapidly during the next seven years. Job growth for financial advisors during this period is projected at 14 percent, with 39,300 new jobs expected by 2026, according to the U.S. Bureau of Labor Statistics.
The Accelerated Online MBA From UNCP
PayScale shows a pay range of up to $162,352 in total annual pay for financial advisors, as of January 2018. Earnings potential for financial advisors increases with training in financial planning, investment management, portfolio management, investment planning and financial reporting, which are covered in UNC Pembroke's online MBA with a concentration in financial services.
The program offers a broad understanding of corporate finance, financial restructuring and portfolio management. Students learn how to evaluate the financial market and determine risks. The program even examines psychological phenomena in the context of corporate and investor financial behavior. This training prepares graduates for success in lucrative, high-growth careers in financial analysis, management and securities sales. And because the UNCP program is accelerated, students can earn the MBA online in just one year.
Factors to Consider Before Enrolling in an MBA
If you have the innate ability to succeed in the field of finance, you are methodical and systematic. Calculations come easy to you, yet these questions require considered thought: Is now the right time to invest in this training, or should you continue to work while you save money for tuition?
Given the compromises you might have to make in order to enroll in many MBA programs, now is the time to work through some of the considerations and calculations of pursuing your MBA now versus postponing for the future.
- Earnings Potential: Many positions for which graduates may qualify have income potential well into the six figures.
- PayScale provides salary information by position for MBA, Finance Degree graduates. Average annual salaries range from roughly $62,000 for financial analysts to around $152,000 for chief financial officers, per January 2018 data.
- GMAC says MBA graduates earn nearly $1 million in cumulative base salary in the ten years following graduation.
- Employment Prospects: MBA training offers the expertise and flexibility you need to open more career doors in more industries, departments and functions. It also provides exposure to a wide range of career paths, enabling informed career decisions.
- A focused MBA adds specific training for candidates who are sure of their interest in a particular industry or discipline.
- Networking in a focused MBA program enables students to grow their list of potential employers, referrals and clients.
- Skills Development: Graduates bring their employers a broad range of in-demand skills including critical thinking and analysis. Through an MBA program, they gain exposure to a wider range of concepts, strategies and skills than are available through training in one position, or with one employer.
Potentially Negative Considerations:
- Opportunity Cost:Losing two years of income to attend a full-time, two-year MBA.
- A current salary of $60,000 x 2 years = $120,000.
- The cost of delaying raises or advancement could raise the total to $130,000 in lost income.
- The value of lost work experience is difficult to quantify.
- Income is lost due to time diverted to studying.
- Tuition and Expenses: Earning an MBA can be an expensive proposition for most working professionals and recent college graduates.
Potential six-figure debt, career risks, stress and loss of income are enough to make many MBA candidates feel indecisive. Fortunately, there is a solution that limits your risks while optimizing your opportunities for success. Our specialized MBA provides you the quality education of a University of North Carolina system degree at a fraction of the cost -- and time -- of many full-time programs.
A Flexible Program for Working Professionals
UNCP's online MBA program structure enables you to work while you complete the program during your free time. If you need to balance work and family obligations, you can spread your degree over a longer time frame.
If you are close to a decision, there is one more factor to consider: The program is as affordable as it is flexible and convenient.
Sources:U.S. BLS: Financial Advisors
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