Comparing master’s in finance vs. MBA degreesÂ
This article was updated on August 12, 2024.
Written by Michael Feder
Reviewed by Kathryn Uhles, MIS, MSP, Dean, College of Business and IT
If you’re considering a career in business, finance or management, you’re likely considering master’s in finance vs. MBA degrees. Both degrees allow you to further your knowledge of financial management, accounting and basic business practices.
Although a master’s in finance and an MBA (Master of Business Administration) have similarities, they differ in several ways. It’s essential to understand the key differences so that you can pursue the best degree for your future career plans.
What’s a master’s in finance?Â
A master’s degree in finance is one option for students looking to further their education in financial management. If you’re looking to pursue fiscal studies, budget creation, financial theory or other related fields, a master’s in finance can help you grow your skills as a professional.
Pursuing this degree can expand your skill set in corporate finance, financial reporting, econometrics and asset pricing. Several finance-specific fields may require a master’s in finance. For example, you might need a master’s in finance to begin a risk management career. Similarly, a master’s program can potentially prepare a person for a career in stock brokerage, investment, budget analysis or accounting.
Obtaining a master’s in finance can help prepare graduates for various international career options as well, including global finance and international capital management. These career choices require an in-depth knowledge of global financial compliance, which you can learn when you obtain a master’s in finance.
What you learn with a master’s in financeÂ
A master’s degree in finance can provide an in-depth understanding of various financial concepts, tools and techniques. Students in these programs may explore the principles of financial theory and analyze market behavior. They should also receive an in-depth understanding of capital structure and budgets among corporate entities.
Ultimately, a master’s degree in finance can equip graduates with comprehensive knowledge and practical skills essential to pursue a finance career.
°®ÎŰ´«Ă˝ does not currently offer a master’s in finance, but it does offer an online Master of Business Administration that covers corporate finance courses that teach skills such as business valuation, knowledge about the financial market and capital structures.Â
What is an MBA?Â
Many students pursue an MBA — a Master of Business Administration — as an important step toward learning the skills they will need to pursue a role in business. This type of graduate degree helps students further their knowledge of business administration, including many of the skills necessary to pursue management and leadership roles.
MBA coursework teaches advanced business concepts, including several financial concepts also taught in a master’s degree in finance program. An MBA helps students adopt several useful business skills, including business management, organizational structure, marketing and more.
An MBA can teach useful skills that can be used in a variety of occupations. For example, an MBA can help teach you skills to pursue roles as a general manager, an operations director or an administrative manager in a wide range of fields.
What you learn with an MBAÂ
An MBA can be completed in as little as 16 months, but it will largely depend on your specific program. Some competency-based programs can be completed sooner, for example, than traditional programs but depend on a candidate having extensive business experience.
During your studies, you’ll further practical business knowledge and prepare for managerial roles. Many MBA curricula include coursework in leadership, business operations, decision-making and data analysis.
Before beginning your MBA, you’ll want to make sure your chosen school is accredited. Many schools offering MBA programs look for candidates with a strong mix of academic and nonacademic qualifications. Some schools, such as °®ÎŰ´«Ă˝, do not require entrance exams or essays for admission.
Careers with an MBAÂ
What can you do with an MBA? In addition to preparing for opportunities in leadership positions, an MBA at UOPX aligns specifically with the following careers:
- Business manager: Business managers oversee budgets, marketing, business strategies and personnel management. Their primary goal is to plan and develop strategies to help organizations become efficient.
- General manager (GM) and operations director: General and operations managers often overlap in their responsibilities. They create policies and manage operations for multiple departments within an organization.
- Administrative director: An administrative director’s responsibilities include overseeing and coordinating a company’s daily operations. That means developing administrative practices, records management and training methods. An administrative director could act as the chief executive or operations officer for some smaller companies.
While these roles typically require a bachelor’s degree, some employers may prefer candidates with an MBA.Â
MBA vs. master’s in finance: What are the differences?Â
Both a master’s degree in finance and an MBA can help you enhance your skill set in business. However, these degrees are different in several ways.Â
| Aspect | MBA |
|---|---|
|
Curriculum
|
Covers various business disciplines (marketing, operations, leadership)
|
|
Duration
|
11 months to two years, depending on the program
|
|
Career paths
|
Management roles, executive leadership
|
|
Work experience
|
Often requires work experience
|
|
Networking opportunities
|
Extensive alumni networks across industries
|
|
Flexibility
|
Part-time, full-time, executive options
|
|
|
Your preferred industry is likely the most important factor in determining the best degree for you. For example, an MBA is likely the more appropriate choice if you want to create and run a business. By contrast, you might opt for a master’s degree in finance to pursue a specialized financial position, like that of an accountant or a financial advisor.
Professionals who have minimal business experience may also prefer a master’s in finance over an MBA, especially if they aren’t seeking to manage business operations or if they want to specialize in other areas, such as human resources or marketing.
Choosing whether a master’s in finance vs. MBA is the right degree for youÂ
If you’re considering a master’s in finance vs. MBA, be aware that there are many reasons to consider any graduate degree, especially if you want to build your skill set. In fact, even if you’re an established leader in your field or company, a graduate degree may help you pursue future job opportunities. For career aspirations that involve finance, it makes sense to consider a master’s in finance vs MBA.
Depending on your career goals, there’s likely one master’s degree that’s best for you. An online MBA program may be your preferred option if you’re primarily concerned with flexibility, both in terms of the program itself and of potential career paths. While a master’s in finance suits positions like financial analysis and auditing, you can apply an MBA to a much broader career field — including finance, business, medical management, research and entrepreneurship.
Learn more about pursuing your MBA and preparing for a modern business landscape.Â
Want to learn more about pursuing your MBA, and preparing yourself for a modern business landscape? Read more here!
ABOUT THE AUTHOR
A graduate of Johns Hopkins University and its Writing Seminars program and winner of the Stephen A. Dixon Literary Prize, Michael Feder brings an eye for detail and a passion for research to every article he writes. His academic and professional background includes experience in marketing, content development, script writing and SEO. Today, he works as a multimedia specialist at °®ÎŰ´«Ă˝ where he covers a variety of topics ranging from healthcare to IT.
ABOUT THE REVIEWER
Currently Dean of the College of Business and Information Technology, Kathryn Uhles has served °®ÎŰ´«Ă˝ in a variety of roles since 2006. Prior to joining °®ÎŰ´«Ă˝, Kathryn taught fifth grade to underprivileged youth in °®ÎŰ´«Ă˝.
This article has been vetted by °®ÎŰ´«Ă˝'s editorial advisory committee.Â
Read more about our editorial process.
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