Finance is a rapidly growing industry, particularly because a good finance department is required in all organizations. Because of the field’s rapid growth and abundance of job opportunities, an increasing number of people are pursuing a career in finance. While some may be satisfied with a bachelor’s degree in finance, obtaining a master’s degree can help you advance to more senior positions and earn higher wages. Let’s take a look at your career options after earning a master’s degree in finance.
Pursuing an undergraduate finance degree will enable you to develop skills that are extremely valuable in today’s global business environment. Moving on to a master’s degree in finance will allow you to specialize in a specific area, giving you access to a variety of career options.
Also, because there are so many jobs available in finance, there is a high demand for finance professionals who excel in their field. Furthermore, careers in finance are well-paying, making it a lucrative career choice.
What Can I Do With a Finance and Analytics Master’s Degree?
Corporations increasingly look to financial leaders to interpret data and assist in decision-making regarding long-term goals, capital improvements, risk management, and revenue-generating opportunities. This post will look at five in-demand finance jobs for which a master’s degree can help you prepare, including average annual salaries, daily tasks, required skill sets, and leadership opportunities.
Financial analysts do not only work in the financial sector. Investment banks, insurance companies, and other financial institutions, as well as stock brokerages, corporations from various industries, government agencies, and nonprofits, hire financial analysts to evaluate and recommend corporate and client financial data. Analysts must stay up to date on the latest trends, prepare financial models, and be persuasive communicators in addition to analyzing financial risks and opportunities.
Average Salary of a Financial Analyst
The median annual salary range is $95,570, and the US Bureau of Labor Statistics predicts 9% annual growth through 2031.
A financial manager is a versatile position that is in high demand across all industries. This position reports to upper management, corporate stakeholders, and CFOs. Large corporations use these financial professionals to monitor and prepare reports for client accounts, whereas smaller businesses use them to monitor and prepare reports for client accounts.
Average Salary of a Financial Manager
A financial manager’s median annual salary is $131,710, and the rate of growth is much faster than average, at 17% per year, through 2031.
Director of Finance (CFO)
A chief financial officer is a c-level position that can be found in both small and large corporations; it is also a role that may require more time and experience to obtain. CFOs are in charge of all corporate finance and accounting operations and employees, as well as strategic financial decisions and the development of strategies to increase revenue and manage risks.
Average Pay for a Chief Financial Officer
The median annual salary is $179,520, executives typically have at least five years of related experience, and the growth rate is 6%.
Private Wealth Administration
To be successful, a personal financial advisor must be able to perform a variety of tasks, including tax planning, stock investment advice, setting up family trust funds, and recommending financial products or services. One-on-one client meetings are common daily tasks in which the advisor must present recommendations, listen carefully to their concerns, and explain the subject matter.
Average Salary of a Private Wealth Manager
The median annual salary for personal financial advisors is $94,170, with a 15% growth rate.
Chief Data Scientist (CAO)
An MS in Finance and Analytics enables individuals to advance into a variety of executive positions, including that of chief analytics officer. A CAO reports directly to the CEO and is in charge of the organization’s data. CAOs have worked in a variety of fields, including statistical analysis, finance, and marketing. Leaders in the finance sector must assess data quality, business intelligence, and ensure processes comply with regulatory requirements.
Average Salary of a Chief Analytics Officer
The median annual salary for chief executive jobs is $179,520, with a 6% growth rate through 2031.
Finance graduates are not restricted to the jobs listed above. The list of Finance careers is extensive, and you should always choose the path that best fits your needs and ambitions.
If you are unable to study abroad, consider online Masters in Finance programmes that allow you to study from the comfort of your own home.