What You Should Know About This Degree
An MBA in finance is similar to a master’s in finance and a master’s in accounting, but there are important differences that set the MBA in finance apart. A master’s in finance focuses on financial principles, but it doesn’t cover the business principles that are incorporated into an MBA. A master’s in accounting specializes in accounting rather than finance, and it’s the gateway to licensure as a certified public accountant (CPA). All of these degrees have their use, but an MBA in finance is the most extensive of these degrees and can set you up well for working in finance.
When you graduate with an MBA in finance, many employers will ask about your academic qualifications and industry experience. If you don’t already work in finance, look for a program that includes an internship so you have some relevant experience when you apply for your first job in the industry.
If you’re looking at online degree programs, understand the in-person requirements. Some might have internship requirements, and some may also have short on-campus sessions. You’ll want a program that accommodates your schedule and budget.
Take these questions into consideration when looking at MBA in finance programs:
- Am I eligible for this program? The majority of MBA programs require incoming students to have an undergraduate degree or equivalent professional experience in business. If you don’t meet a program’s requirements, you may be asked to complete prerequisite courses before enrolling.
- How long does it take to earn this online degree? Most MBA in finance degrees require one to two years of full-time study to complete, regardless of whether the program is taken online or on campus. Going part-time may extend the program length to three years or more.
Once you’ve determined which programs fit your needs, research the admission requirements and application deadline of each one. This information can be obtained from programs’ web pages or by directly contacting admissions departments.
Paying for your MBA in finance degree is another important consideration. To learn about available funding, ask programs about their financial aid and scholarship opportunities. If you work in business already, your employer might offer tuition reimbursement.