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All You Need to Know About an MBA in Finance

MBA in Finance

Pursuing an MBA (Master of Business Administration) is somewhat a dream come true for aspiring managers. With an MBA degree, students and professionals can acquire the skills required to bring necessary improvement to a company. However, MBA comes with multiple specializations, from which you can choose the stream you want to pursue.

An MBA in Finance is regarded to be the most attractive of all finance courses. It opens up a wide range of opportunities for you. Various sectors like banking, business, stock market, and insurance sector employ candidates from this background.

It is one of the best professional courses for building up and polishing the ability of management, invention, and critical thinking, and offers real-time excellence.

What Makes MBA an Attractive Option for Many Students and Working Professionals?

The crux of any educational stream is the holistic development of an individual. An MBA is one of the best degrees recognized globally for this purpose. It acts as an agent of change in your career growth, and here are some points on why MBA is an attractive option for many –

  • Ensures holistic development: A degree in MBA revolves around a combination of simple general knowledge and advanced knowledge of strategic thinking. A list of comprehensive projects and internships along with a diverse study curriculum ensures this. Additionally, it helps you identify your strengths and weaknesses very easily, ensuring overall development.
  • An extensive curriculum: A two years degree in MBA presents a wide curriculum ensuring development in critical and analytical thought processes. It also includes stock analysis, business finance, risk management, finance management, and banking. 
  • Diverse job role exploration: With the completion of a degree in MBA, you can choose from a wide range of job opportunities. They can be in both private and public sectors. 
  • Attractive pay packages: Even as a fresher, you can ensure a job with attractive pay packages. With expertise, your pay faces a proper increment over years. 
  • High demand: Having sound knowledge in the domain of management can help you get hold of a high paying job in an industry. Every industry, starting from PR, IT, and consultancy to Ed-tech firms and real estate, requires strategic planning and assistance to record cash flow, salary payment schedules, and investment details. Hence, they require financial assistance. This explains the high demand for a degree in management.
  • Kick-starting a new venture: A degree in MBA can be the key to fulfilling the ambition of starting your own business. With this specialization, you can ensure optimum usage of your resources and get the best results.

Advantages of an MBA Degree

There are both good and bad sides to everything. Here, you will get an overview of the goodness of pursuing an MBA.

  • Development of leadership skills: A leader is one who guides an entire team to the right path. An MBA degree helps gain this ability and increase the chances of better employment. This, in turn, enhances your professional marketability and better job opportunities.
  • Excellent management of personal funds: The curriculum in attaining a management degree teaches some basic and lifesaving skills. They include strategic thinking, financial management, time management, and governance. A mixture of all these smoothens personal goals and ambitions. It also helps you track the flow of income and carry out expenditures accordingly. 
  • Increased awareness of the global market: Once you earn an MBA degree, it opens up a plethora of diverse streams. You get to interact with more people from different communities. This increases your knowledge base and leads you to explore other industries outside your native country. This leads to an increased awareness of the global market. 
  • Expansion of professional network: The sooner you have increased communication with the global market, the better you tend to expand your network according to your needs. Being a part of this broader community will help you strengthen relationships with professionals beyond the classroom space. 

Disadvantages of an MBA Degree

Below are a few shooters where you get the highlighted demerits.

  • High cost of study: A two years full-time degree in management involves a whooping cost of study. Most of the students have to take the burden of loans with high-interest rates. So, if you are thinking of pursuing a degree in management, you need to prepare for this. Almost all of the B-schools charge a whopping sum of money. 
  • Uncertain return on investment: A degree in management involves investing large amounts of money. But, the returns for this are quite good. While we are aware of career advancement after a management degree, the question remains about acquiring a job that will provide the same returns as the investment.
  • Work experience acts as an added advantage: Most of the companies have a tendency to recruit candidates with work experience. They feel that freshers lack the power to handle difficult situations. On the contrary, experienced candidates are believed to have a better shot at this. 

Is MBA Necessary for a Degree in Finance?

An MBA degree holds utmost importance for propelling a degree in finance. The following might be the most important causes.

  • Increment in salary: Acquiring a degree in management in finance courses significantly improves your earning potential. Whether it is the banking sector or an ed-tech firm you are working in, you can unlock promotions. This will help you climb up the corporate ladder. 
  • Networking opportunity: An important factor in pursuing an MBA is the development of your professional network. In the process, you get to know a lot of potential and significant people. They, in turn, add value to your business and corporate life.  

 Why is an MBA in Finance not Always Necessary? 

  • Rank of the B-School:  The value of a degree in MBA largely depends upon the rank of the business school that you have passed out from. This creates a disparity between the expected job life and the salary that you will receive in hand. 
  • Work experience becomes a must: Most of the recruiters value you as a potential employee only when you have relevant years of work experience. Hence, your limitations become highlighted. Most of the recruiters discourage entry-level participants.  

What are the Best Alternatives to an MBA in Finance?

  • Corporate Financial Management Online from The University of Law Business School provides an ideal platform for a future career in banking, personal finance, and corporate finance.
  • Online Accounting from the American University of Washington, DC is flexible for the working personnel. It provides a certificate course in forensic accounting and taxation. 
  • Global Online Finance and Strategy from the Manchester Metropolitan University aids the students to keep themselves up to date with the trends of corporate market analysis. In addition, this financial course covers financial technologies and risk management schemes. 
  • Global Finance and Banking Online from King’s College, London provides a lucrative online career. It explores advanced principles of Global Finance and Banking.
  • Hero Vired Finance Programs: Hero Vired’s online finance programs are made for professionals looking to upskill and learn cutting-edge concepts from the world of finance. It collaborates with the likes of Massachusetts Institute of Technology (MIT) for its Finance and Fintech program, and edX and Columbia University for its Financial Analysis, Valuation, and Risk Management program

In addition, it provides placement assurance and with expert guidance, you get practical training and in-field experience through industry projects, case studies, and internships.

Overall, you get the promise of an international learning experience at a fraction of the cost.

Advantages of Online Finance Programs

  • Lower cost for the same degree: With the benefit of online finance courses, you can save up a handsome amount of money. This is a stark contrast to the tuition fees that you had to pay to visit an offline business school. In addition, books are in digital format which saves a lot of money. 
  • Flexible schedules: When you take up the benefit of finance certification courses online, you have the extra benefit of scheduling it any time of the day. You can also access it from anywhere in the world.
  • More free time for oneself: Online finance certifications allow flexible schedules for you to pursue classes in your free time. In the process, you save a lot of time for yourself.
  • Development of good time management skills: A culmination of flexible schedules and free time leads to better skills in time management for the person. 
  • Improved learning quality: The greatest benefit of online learning is that you can get back to the lectures any number of times. This does not happen in a physical classroom because the professor delivers and walks away. So, you can rewind and rewatch the lectures in online finance courses.
  • Eligible for all adults: Once finance certifications are online, adults can synchronize their working schedules and learning online together. Hence, online finance courses become of utmost importance. 

Things to Consider When Opting for an Online Finance Course:

Mentioned below are a few points you should remember before enrolling in an online course:

  • Minimizing distractions: While choosing a finance certificate course online, you should remember to stay focused with minimal distractions. Remember to have a room completely for yourself while studying. Closing doors and windows will also help.
  • Staying motivated: Before starting the day, maintain a to-do list for yourself. If you do this daily, you can have a tab of your daily deeds. This will prove to be quite advantageous. 
  • Technical drawbacks: Technical issues might crop up anytime; so, you should be well prepared for them. You can have a backup device to continue your lessons in case of mishaps.

You can easily pursue an MBA from an esteemed business school. But, you should also remember the drawbacks associated with this. It is usually time taking and costly, and returns do not always equal the monetary investment. 

It comes down to your specific career goals and aspirations. If you want to build a career in Finance and are passionate about it, an MBA is a great but not the only. You can consider online certification programs that are more niche in their program offerings and help you learn the specific things you are looking for.

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