Benefits of earning an MBA in finance: Salary and career facts

With an MBA in Finance, you’ll learn advanced financial management skills that combine core business principles with specialized financial knowledge. You can prepare for leadership roles by understanding complex financial markets, investment strategies, and corporate finance.¹ But before you decide if this is the best path for you, you should understand the career prospects and salary potential.

Read on to discover the benefits of an MBA in finance, from salary to career advancement and beyond.

Graduating with an MBA in finance can be very rewarding financially. Depending on what position you held before, you’ll likely see a substantial salary increase. According to the U.S. News and World Report, the average salary of 2023 graduates of the top 146 MBA programs was $128,997.² However, your work experience and rank before you enter an MBA in finance program will also affect your starting salary, as many graduates are already mid-career.

The position you choose after you graduate is another factor that will affect your salary. Specializing in consulting is the most lucrative path for most graduates, with an average base salary of $152,470.² Working in the government sector pays significantly less at an average of $80,520.²

As you advance in your career, you may be able to expect even more. Graduates who earn positions as an investment banker can earn between $150,000 and $200,000, while those who take on the role of Chief Financial Officer (CFO) earn a median salary of $444,400.^3,4

Other MBA in finance benefits include learning the skills you need for leadership roles, such as CFO, financial planner, and investment manager. These positions require strong analytical and strategic thinking skills, as well as financial acumen, which you’ll learn throughout your curriculum. As a graduate, you’ll be qualified to supervise financial operations, develop long-term financial strategies, and lead teams effectively.⁵

The MBA in finance can also give you the flexibility to shift within various finance sectors, such as moving from corporate finance to a more advanced position in investment banking. You may also be able to advance your career in a related field like consulting or entrepreneurship, where you can use your financial skills.⁵

Good MBA in finance programs are also rife with networking opportunities. These connections can open doors to upward career moves throughout your working years.⁶

An MBA in finance opens up a broad spectrum of opportunities within the financial industry. Whether you're interested in advising clients or managing large-scale investments, the skills and knowledge gained from a finance MBA can propel you into various leadership roles.

As a financial advisor, you will guide clients in making informed decisions about their financial resources, helping them achieve their long-term goals. Alternatively, a career as a financial analyst allows you to evaluate financial data, assess investment opportunities, and provide critical insights to guide business decisions.

For those drawn to the investment management sector, managing portfolios, and developing investment strategies can be rewarding and challenging. Finance professionals with an MBA are well-prepared for roles such as portfolio managers, where you’ll handle substantial assets and make strategic investment choices.

Building and maintaining strong business relationships is crucial in many finance roles. Whether you're working as a financial analyst, crafting detailed reports and forecasts, or engaging in client-facing activities as a financial advisor, effective communication and networking are essential.

The flexibility of an MBA in finance means you can tailor your career path to align with your interests within the financial sector, opening doors to various positions and industries.

Becoming a Chief Financial Officer (CFO) offers numerous benefits for those with an MBA in finance. CFOs are integral to navigating the global economy by analyzing complex financial information and making strategic decisions that impact an organization’s success. The skills acquired through an MBA, such as understanding core subjects like accounting and corporate finance, prepare you to tackle real-world challenges and enhance the overall finance worth of your company.

In addition to mastering technical expertise, CFOs must demonstrate soft skills like effective communication and problem-solving, which are critical for leading diverse teams. Graduates with MBA concentrations in finance are well-equipped to achieve their career goals, as CFO roles offer significant career options and the potential for a higher salary.

To qualify for such high-demand positions, students must meet specific admission requirements and perform well on test scores. However, professional experience in finance combined with the strategic connections built through an MBA's professional network can open doors to senior leadership roles like CFO.

The path to becoming a CFO also involves continuous learning, with many opting to pair their MBA with certifications such as a Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA). These additional credentials not only enhance their career prospects but also ensure they stay competitive in the rapidly evolving finance sector.

The reason MBA in finance graduates are highly sought after is the deep financial expertise they develop during their program. Your courses will cover topics such as corporate finance, investment management, financial analysis, and risk management. You’ll learn how to read financial statements, manage portfolios, and understand market forces and their ramifications. You can apply these skills in every industry, so you can combine your financial skills with other interests to find a rewarding career.

The strategic thinking and decision-making skills you learn will make you an asset to any company because you can drive successful financial strategies and make data-driven business decisions. Through case studies, simulations, and real-world projects, you’ll learn to tackle complex financial problems and perform detailed financial modeling. In practical scenarios, these skills can be used in many different roles and industries.⁷

The financial and leadership skills you develop during your graduate program will make you more competitive in the job market compared to those with only a bachelor’s degree. This advanced degree demonstrates your ability to handle complex financial roles, a skill many top companies are looking for.⁵

In addition to being a valuable addition to almost any organization, you’ll also be able to work almost anywhere. Financial skills are in global demand. You can find positions close to home or in exciting international locations like London or Geneva. Your ability to handle global financial challenges will make you an attractive candidate for multinational corporations and international financial institutions.⁸

MBAs in general are highly regarded in the professional world, as over 22% of CEOs have one.⁹ An MBA with a concentration in finance shows that you understand financial principles and strategic management, which are highly valuable for today’s leaders.

If you want to specialize even further, you can pair an MBA in finance with professional certifications such as a CFA or CPA. These certifications can make you even more marketable by highlighting your skills and commitment to excellence.¹⁰

Your MBA in finance won’t be your first educational achievement, but it shouldn’t be the last, either. In today’s volatile market, where technological advancements are rendering skills obsolete in just a few years, continuous learning and professional development are requirements for professional success.

Ongoing education will help you stay ahead of industry trends, technological advancements, and regulatory changes. Your alumni networks and professional associations will offer you access to professional development events for continued career growth.⁶

If you’re ready to take your career in finance to the next level, the KU School of Business online MBA can help. As a top 9 program, KU’s rigorous MBA curriculum will help you develop the financial and business skills you need to become a global leader.

With guidance from a faculty of industry experts and a network of Fortune 100 alumni, you’ll be prepared to step into high-level leadership roles and help any organization succeed.

Schedule an appointment with a KU admissions outreach advisor today to apply and take your next career step.