A successful career in the banking industry calls for a specialized set of skills suited to those individuals that are gregarious and inquisitive by nature. While a bachelor’s degree in finance is typically considered a minimum requirement to obtain most jobs in business finance and investments, there are definitely added benefits to earning a Master in Finance.
Graduating with a Master of Science in Finance will give you the foot in the door to the banking industry, making you a strong candidate for middle or upper management positions both domestically and abroad.
It hasn’t always been this way, in the past an MBA served as an "umbrella" degree, covering a broad range of core functions as they related to business, and it still does, but times have changed and getting a specialized Master of Science in Finance degree will open more opportunities with greater responsibilities and higher pay in the banking industry.
The current job market is particularly in favor of graduates with this concentrated academic background in finance. "78 percent of employers who hired Master of Finance graduates met or exceeded their 2014 hiring goals for this targeted group. In 2015, 78 percent of employers plan to match or increase the number of recent finance graduates they hired in 2014, including more than a quarter who did not hire these candidates in 2014", the January 2015 report from the Graduate Management Admission Council states.
Meeting and/or exceeding company goals is great, but how can earning a Master of Science in Finance degree help you personally? First, earning a degree in business finance can help enhance your CV without too much hard work. Typically, the duration of study takes much less time than earning a full MBA, on average one year, allowing graduates to enter the workforce quickly.
Master in Finance core proficiencies include
- Financial Economics
- Financial Management
- Corporate Finance
These competencies can prepare graduates for a range of career opportunities. Entering the job market, graduates can find work in investment banks, commercial banks, accounting firms, or consulting companies.
Some professional titles in the banking industry include the following:
- Financial Analysts These systematic individuals are responsible for researching an individual client’s or an organization’s financial status, including their history, risk tolerance and current expenditures and investments.
- Financial Managers Managing the financial health and stability of a company, is the task of the financial manager, in addition to developing a company’s long-term financial goals.
- Personal Financial Advisors These meticulous consultants concentrate on providing diverse advice from retirement savings planning to insurance protection.
- Loan Officers Often working in the lending or credit department, loan officers evaluate and approve applications for loans for individuals, companies, or both. Sales experience can also help to find and contact leads in this profession.
- Securities, Commodities, and Financial Services Sales Agents Professional agents advise clients and businesses on the purchase and sale of specific commodities and financial securities. Focus can also concern potential investors, mergers, or acquisitions.
These are only a handful of roles a graduate with a Master in Science in Finance can expect to have available in the banking industry.
Understanding the unique challenges, successful strategies and opportunities of the global financial markets requires sophisticated, comprehensive instruction and training in all matters of global finance. The Master in Finance program at GBSB Global Business School has been designed to provide students the fundamental knowledge, tools, confidence, and skills necessary for successful financial management in Europe and globally with secure and smart financial strategies on their side.
Today’s business leaders must have a thorough understanding of interest rates, investment and financial analysis, and capital markets among the others listed before. These are the same skills gained by students graduating with the Master in Finance degree from GBSB Global Business School. The Master of Science in Finance prepares students for successful careers in finance and banking in Europe and around the world.
Choosing to earn a Master in Finance is an investment in your future. With the changing economic climate, there is no better time to take advantage of all the opportunities available to advance your career.
Written by Emily Dawn Szajda, GBSB Content Manager