“What can I do with a Master’s Degree in Finance?” is usually the first question asked by students considering this degree. The good news is that there are many possibilities available to graduates of finance master degree programs. The job pool for finance majors is large, and they can also lead to lucrative careers. Below are just a few of the many jobs that can be had with a master’s in finance degree.
Controllers are the financial minds who oversee the day-to-day operations of financial, accounting and contract management units. They have many responsibilities, including coordinating external audits, overseeing internal audits and monitoring routine financial activities. They prepare external and internal financial reports and provide information monthly, quarterly and year-end balances while also ensuring compliance with regulatory policies and accounting procedures. Their duties are very similar to financial managers. They earned median wages of $125,080 as of May 2017.
Financial managers are in charge of the financial stability of an organization. They direct investment activities and monitor financial dealings to ensure legal requirements are met. Financial managers produce business activity reports, financial statements, and monetary forecasts. They also supervise employees who handle budgeting and financial reporting while also helping management make financial decisions. They make financial decisions based on their analyzations of the market trends and look for ways to reduce costs while making the organization as profitable as possible. Financial managers earned $125,080 in 2017. U.S. News & World Report ranked financial managers No. 9 among best business jobs, No. 16 among best-paying jobs and No. 40 among 100 best jobs.
Personal Financial Advisor
Becoming a personal financial advisor is yet another thing someone can do with a Master’s Degree in Finance. Personal financial advisers provide advice on investments, estate planning, mortgage, insurance, retirement, and taxes to help others manage their finances. Although they do work with organizations, they spend more of their time working with individuals. They meet with clients to discuss their financial goals, educate them on investment options and make recommendations for investments. Personal financial advisors help clients save money and meet expenses by helping them set and meet both short- and long-term goals. U.S. News & World Report ranks personal financial advisors No. 8 among best business jobs, No. 18 among best business jobs and No. 37 among best 100 jobs. Personal financial advisors earned an average annual wage of $124,140 in 2017.
Financial analysts provide guidance to individuals and businesses regarding investments based on their assessment of bonds, stocks, and similar investments. They work in banks, insurance companies, pension funds and independently. Financial analysts study business and economic trends, evaluate past and current financial data, assess the strength of an organization, prepare written reports and meet with officials to gain insight into a company and make appropriate recommendations. Financial analysts are divided into two groups: buy-side analysts and sell-side analysts. As of May 2017, financial analysts earned an average annual wage of $99,430. Financial analysts were ranked No. 15 among best business jobs, No. 16 among best STEM jobs and No. 74 among 100 best jobs.
Finance is a very rewarding and growing field. U.S. News & World Report ranks many jobs in the finance industry among the best jobs for 2018. This bodes well for those who have a Master’s Degree in Finance because they can almost pick and choose how far they want to go in the finance industry.