Industry Spotlight: The Benefits of a Career in Finance
Brought to you by the Villanova School of Business
Internationally revered, the Master of Business Administration (MBA) is an advanced degree that can lead to professional growth and exciting new opportunities. Typical MBA programs are designed to help you prepare for a high-powered career in the business world. The topics covered throughout the course of an MBA program are comprehensive. You will learn about important components of business practice, such as marketing, accounting and human resources, preparing you for management and even executive positions in a number of different professions. If you are looking for a way to get ahead in your career and consolidate your business skill-set, returning to school to study for an MBA will likely be a fruitful endeavor and can be particularly helpful for working in finance. There is an array of different positions and career paths within this lucrative industry, with many jobs affording you opportunities for progression and growth. Returning to the classroom need not be disruptive to your already busy life and career. With the online MBA program at Villanova University, the classroom comes to you. The online MBA program affords you the flexibility to work at a pace and times that suit you best. Furthermore, all courses are taught by the same world-renowned faculty that instruct on-campus classes.
Why finance?Finance is an exciting field that offers numerous opportunities for graduates who have completed an MBA. As outlined by the International Monetary Fund, the financial services industry encompasses organizations such as banks, stock brokerages and investment fund management companies—all of which provide a number of rewarding career paths. You may even prefer to work independently as a financial advisor. Still not sure if a career in the finance industry is right for you? Review our list of the pros of the financial sector:
- Reasonable hours Although this is by no means uniform across the industry—some financial professionals can work long hours late into the night—most financial workers will have a standard 9-to-5 routine, the Houston Chronicle stated. The stock market stops trading at 4 p.m. ET on weekdays, meaning your chance of some free time in the evenings and on weekends is reasonably high. You won’t be required to work the night or holiday shift, like a healthcare professional. Keep in mind, in many cases you may have to catch up on work off the clock. In today’s digital age of ubiquitous Wi-Fi and smartphones, the office can follow you home.
- Plenty of room for advancement In the world of finance, opportunities for advancement are countless. Furthermore, The Balance explained that in the financial industry, promotions are more likely to be based on achievement and merit, and not merely tenure. It is possible to quickly climb the ladder in your career, even if you have not been working for a particularly long time. With hard work and dedication, and the skills learned in your MBA studies, you could find yourself in the executive suite sooner than you imagined.
- Lucrative compensation As the Houston Chronicle reported, many jobs in the financial sector are very well paid, with salaries in the six-figure range not uncommon. For example, Payscale reported that the median annual salary nationwide for an investment fund manager is around $86,000. However, it is possible to earn a great deal more than that—the source noted that the highest earners in this field reported salaries close to $150,000 per year. Similarly, a high powered position in the executive suite as a chief financial officer could earn you a median salary of just over $158,000 annually, according to popular career website Glassdoor.
- Fast pace A career in finance is ideal if you are looking for a stimulating and fast-paced career. The Balance explained that in many financial sector roles you will be required to think quickly and respond to an ever-changing working environment. You will likely be faced with a slew of tight deadlines on a frequent basis. While this can be stressful at times, the rewards of a work-filled, action-packed day can be considerable.
A look at potential financial sector careersAs outlined, there are many benefits associated with a career in finance. For a more detailed look at potential career options, review our guide to some of the promising positions that your MBA could help you secure:
- Investment banker Investment bankers, according to Entrepreneur, work with both for-profit and nonprofit groups, and will oversee their investment strategies by providing advice and helping with raising capital, usually via security selling. Additionally, professionals working for investment banks will have a solid understanding of government mandates pertaining to capital fundraising, and will provide services such as drawing up crucial legal documents.
- Financial manager As outlined by the US Department of Labor, financial managers can be found across all industries. A financial manager will often hold a senior position within an organization and will be tasked with overseeing the group’s financial infrastructure. Financial managers will produce presentations and reports, develop strategies for improvement and change, and even make investments on behalf of the company.
- Stockbroker Clients trust stockbrokers to make investments on their behalf. Clients can range in size from single individuals to large multinational corporations. A great stockbroker will be trustworthy and able to keep up with a fast-paced and ever-changing financial landscape. In-depth knowledge of the state of the financial industry as well as laws and other government regulations is essential. Given that stockbrokers deal with clients on a frequent basis, solid communication skills are also necessary in this role.