When most people think about Master of Business Administration degrees in finance, they think about Wall Street. In reality, finance MBAs work in diverse sectors across the economy. The increasing complexity and importance of global finance makes MBAs with specializations in the area increasingly valuable. Pursuing the degree offers candidates several promising advantages.
A solid understanding of global finance is indispensable for businesses of almost every size in today's economy, but finance talent is still in short supply. Many business school students assume that a finance MBA is only worthwhile for future investment bankers, but the degree is actually quite versitile. According to CBS News, finance MBAs often work as research analysts for companies around the country, work with regional banks and consult with cities on how to structure public debt. In short, any company or organization that deals with large sums of money will find a finance MBA a valuable team member.
One of the most underrated advantages to earning an MBA in finance is the opportunity to network with like-minded professionals. Success in the business world often depends more on who a person knows rather than what a person knows. Recognizing that social networks play a role in more than two-thirds of employment opportunities, Harvard Business School and others have developed alumni organizations and networking seminars. Even if earning a finance MBA doesn't land you a job, it could still provide valuable contacts for doing business in the future. It's easier to cut a deal with a competitor when you know the person on the other side of the negotiating table.
Developing Entrepreneurial Skills
Millions of people dream of starting a small business, but few actually have the skills and know-how required to build a successful company. In most sectors more than half of new businesses fail within five years, according to news site Small Business Trends. For an aspiring entrepreneur, a finance MBA could be the difference between rapid growth and bankruptcy. With sound knowledge of debt mechanics and financial principles, an educated small business owner can avoid the mistakes and bad gambles that cripple so many other new businesses. Banks are also more likely to make small business loans to companies run by professionals.
A Satisfying Challenge
One last advantage to pursuing a finance MBA is the stimulating intellectual challenge business school offers. Many workers find themselves bored in a cubicle or middle manager's office, staring bleakly into a dark future of boredom and drudgery. "Forbes Magazine" noted recently that business school professors work hard to stretch their students' thinking and encourage them to find novel solutions to old problems. If nothing else, a master's degree in finance promises a satisfying intellectual adventure. It helps to open the door to a lifetime of challenging and interesting work.
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