5 Great Jobs for Finance MBAs
If you want your MBA to deliver the best return on investment, consider a finance concentration. High-paying jobs in financial services, banking, insurance, and related industries have been growing for years.
Lucrative, High-Growth Specialization
The outlook for financial services managers is strong. Many roles that finance MBA graduates qualify for are expected to grow faster than average.
- Financial advisors: $102,140 average salary with job growth projected at 17% between 2023-2033.
- Financial managers: $156,100 average salary with 16% projected job growth.
These numbers don’t include the extra compensation MBA graduates often earn compared with those holding a bachelor’s degree. Finance specialists are in even higher demand because their industry-specific skills make them more competitive.
Monster recently ranked finance as one of the most lucrative MBA specializations. Several trends are driving this demand. Aging baby boomers need more financial guidance. Big data and new financial technologies are reshaping the industry.
Growth in emerging economies, multinational organizations, and ongoing digital transformation is creating more opportunities for skilled professionals. Evolving regulations add another layer of demand.
Three Main Fields, Each with Strong Prospects
Most high-paying finance careers fall into three categories: financial services, banking, and insurance. A search on Salary.com shows hundreds of six-figure positions in financial services alone. Similar numbers exist in banking, with more than 100 high-paying roles in insurance.
Here’s a look at some popular positions in each industry:
Financial Services
- Corporate Financial Management: $142,222 average salary
Oversees an organization’s capital to support growth and operations. Produces financial reports, forecasts profit and loss, and develops investment strategies. Balances risk and reward while delivering strong results.
- Financial Advisor: $93,069 average salary
Guides clients and organizations in financial decisions. Roles range from personal advisors to financial analysts, reporting directors, accountants, and CFOs. Requires technical expertise and strong communication skills.
Banking and Investing
Banking and investing careers involve accepting deposits, issuing loans, and offering investment products like certificates of deposit. Roles range from loan officers to branch managers, marketing or operations managers, and corporate-level positions.
- Business Banking Manager II: $189,019 average salary
Drives portfolio growth by implementing marketing and business plans. Expands loans, deposits, and fee-based services.
- Commercial Loan Manager: $172,176 average salary
Manages commercial loan officers and oversees operations in a designated market. Approves loans that exceed officers’ limits and ensures compliance with policies.
Insurance
The insurance industry is diverse and growing, driven by population and economic trends. Finance MBA graduates can help individuals and businesses plan for potential risks and protect against losses. Roles include management, actuarial work, and sales.
- Actuarial Services Director: $280,562 average salary
Develops financial models and mathematical analyses to solve insurance challenges. Calculates premiums, designs insurance plans, and creates probability charts.
There are tens, if not hundreds, of finance positions available in your city. A specialized MBA can be your key to entry.
Learn more about the University of Louisiana Lafayette’s online MBA with a concentration in Finance program.