What You Should Know About This Degree
An MBA in Finance will teach you the advanced financial skills you need to jumpstart or further your career, as well as more general business, management, and leadership skills. However, it is not the only option when it comes to financial education.
A Master of Science in Finance can also help you achieve your career goals, with focused coursework in financial principles and skills. Master of Science in Finance degrees don’t include the general business and entrepreneurial coursework included in an MBA, and therefore usually take a shorter amount of time to complete. This type of degree is rising in popularity among employers.
Another consideration is whether you are more interested in finance or accounting, which are two closely-related fields. Understanding the differences between the two will help you determine which type of program you want to pursue.
At this point, it’s wise to think about your career goals, and determine which type of degree program will best help you achieve them.
If you are using your MBA to enter the finance field, you may want to consider a program that includes a required or optional internship. There are many benefits to completing an internship, including gaining hands-on experience, and making connections with potential future employers.
Here are some questions to ask when researching MBA Finance programs:
- Do I meet the qualifications for this program? Most MBA programs require that students have an undergraduate degree, prior coursework, and/or professional experience in the field. Students who don’t meet all of the eligibility requirements may be able to complete prerequisite coursework prior to enrolling.
- Is this program offered full- and part-time? MBA programs are traditionally designed for working students, so most of them offer the opportunity to attend part-time through evening, weekend, or online courses. When researching programs, be sure to investigate the time commitments for each program, including when classes are offered, to ensure that they fit into your schedule.
It’s also important to find out the details for application requirements, including deadlines and standardized test scores, such as the GRE, that you may have to submit. This information is usually available on the program’s website, or you can contact the admissions office directly if you have questions.
Financing your MBA is another important consideration. Some employers offer tuition assistance for employees seeking to increase their knowledge and skillset. You should also talk to the program about scholarships and financial aid options.