An online MBA in finance provides students with the advanced leadership, analysis, and portfolio management skills needed to help individuals and organizations maximize their financial health and potential. These programs attract learners looking to advance their careers, helping them pursue desirable positions in various industries and organizations.
Earning an online MBA in finance can provide access to many business and financial occupations — a sector the Bureau of Labor Statistics (BLS) projects will add more than 475,000 jobs between 2019 and 2029. Additionally, business and financial professionals earn a median annual salary of $72,250.
In general, MBA degrees take two years to complete, although online and accelerated programs may offer completion times shorter than one year. Tuition for MBA programs varies, but can cost more than $70,000-$100,000 per year at prestigious institutions, which far exceeds the average yearly tuition rate for graduate degrees ($19,310).
Read on for a closer look at MBA in finance programs, including variables to consider when choosing a program and common career pathways.
Still unsure about your MBA college choice? Check out our overall Best Online MBA Programs.
Related MBA in Finance Programs That Might Interest You
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
What Is an MBA in Finance?
Programs can vary considerably, but an MBA in finance often focuses on one or more subdisciplines, such as corporate or international finance. While an MBA usually features the same two-year commitment as a standard master’s program, some MBA in finance degrees offer flexible study options to better accommodate working professionals.
These programs can be demanding, emphasizing experience-driven and practical training, and students often complete internships. In online programs, degree-seekers may need to satisfy residency requirements — distance learners should keep those in mind when choosing a school.
What Can I Expect From an Online MBA in Finance Program?
An online MBA in finance provides much of the advanced business education found in a general MBA program, along with specialized training in finance-related activities. Graduates can manage finance teams, provide consulting and analytical services, and help organizations make more informed financial decisions.
Online programs offer improved flexibility and accessibility for students, expanding their study options. These degrees may also provide several advantages for students, with some programs offering variable schedules, innovative online technologies, and flat tuition rates for all learners.
Example MBA in Finance Courses
- Corporate Finance
- Financial Management
- Supply Chain Management
- Business Analytics
- Portfolio Management
What Are Admission Requirements for an MBA in Finance Program?
Applicants typically need a bachelor’s degree at minimum for admission, along with GMAT scores. Competitive programs may set test score and GPA minimums. They may also require applicants to possess a specific degree, such as a bachelor’s in business or finance.
To earn admission into an MBA in finance program, prospective students may need relevant experience, either in business or finance. Other typical requirements include letters of recommendation, a personal statement or essay, and a resume.
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Most business schools prefer that applicants submit GMAT scores, though they may accept GRE scores. GMAT scores range between 200-800, and the Graduate Management Admission Council reported that the mean score from 2017-2019 was 565. Top business schools may require applicants to have a GMAT score of 600-650 or higher.
Letters of Recommendation
Students applying to an MBA program should consider asking current or former instructors and managers to write them letters of recommendation . These letters address an applicant’s capabilities and potential within the program, along with strengths they have demonstrated in the past.
MBA in finance programs often require applicants to have at least two years of relevant work experience, which they can demonstrate by turning in their resume. Depending on the program, relevant experience may come from a business-related position or a finance-specific field. MBA applicants must demonstrate leadership potential and a grasp of business fundamentals.
Most programs require a personal statement that covers an applicant’s educational and professional history, along with a description of their intended career direction or interest. Some schools may provide more directed questions that students must address.
MBA applicants need to submit transcripts as part of their application packet, showcasing their relevant training and grades. While many MBA in finance programs do not accept transfer credits, some applicants may be able to graduate more quickly if they have completed similar training.
What Can I Do With an MBA in Finance Degree?
With an MBA in finance, graduates put themselves in a great position for a rewarding career. The BLS projects 15% job growth for financial managers between 2019 and 2029, which is close to four times faster than the average projected growth rate for all occupations. In addition to opening up numerous job opportunities, an MBA in finance qualifies professionals for some of the most lucrative positions in the business sector.
Degree-seekers can also boost their employability even more by specializing in a subdiscipline. Choosing a specialization like corporate finance, portfolio management, risk management, or financial management can help learners focus their training and strengthen their chances of finding meaningful employment in those fields.
Financial managers supervise major financial activities for organizations. They manage financial staff, optimize financial processes, and look for investment opportunities. These professionals need a bachelor’s degree at minimum, although many employers prefer hiring candidates with a graduate degree.
Median Annual Salary: $134,180
These professionals provide financial analysis for organizations in various areas, looking at investments and risks, market trends, and overall financial health. They combine research, analytical tools, and financial insight to identify opportunities for savings and growth. These positions require a bachelor’s degree at minimum, with many employers looking to hire workers with a graduate degree.
Median Annual Salary: $83,660
Financial examiners review and assess the operations and activities of various financial institutions. They may protect organizations against risk and losses or individuals against unfair and unethical lending practices. For management and senior-level positions, many employers prefer candidates with a master’s degree.
Median Annual Salary: $81,430
Top executives help organizations meet goals. These professionals perform tasks like analyzing finances and performance, changing processes, and realigning staff and departmental priorities. They may supervise a variety of departments or manage all financial activities as a chief financial officer. In large corporations, these professionals often hold an MBA.
Median Annual Salary: $107,680
Management analysts work internally or contractually and look at leadership processes within an organization. They assess finances, employees, and processes and suggest ways to maximise potential. Most employers require candidates to have a bachelor’s degree at minimum, although master’s degree-holders may receive preference.
Median Annual Salary: $87,660