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Monday, July 27, 2015

Careers for MBAs with an Emphasis in Finance

The following are some additional positions that are available for MBA graduates with an emphasis in finance:
  • Accounting Managers – Accounting managers are responsible for tax reporting and creating income statements for controller and audit groups. An MBA degree with an emphasis in finance also provides the coursework needed to prepare for the CPA exam. This career path can also lead to positions as a corporate treasurer, corporate controller, or CFO (Chief Financial Officer). The average salary for accounting managers is $81,000.
  • Corporate Controllers – A controller’s main function is to prepare reports to help forecast/predict the company’s financial situation. These reports consist of balance sheets, income statements, earnings analysis, and expense analyses. A controller also oversees the company’s budget, auditing, and accounting departments. Salaries for corporate controllers range between $60,028 and $153,091, depending on the company and location.
  • Chief Financial Officers – The Chief Financial Officer (CFO) supervises all accounting and financial operations within an organization. He/she also administers the company’s general financial policies and strategies. CFOs that work for smaller companies are responsible for all of the financial management duties, while a CFO for a larger company delegates some or all of the responsibilities to other managers within the company. The United States Bureau of Labor Statistics reported that the average salary for CFOs in 2008 was $160,000. 
  • Treasurers and Financial Officers – Treasurers and financial officers manage a company’s investment activities by raising capital, overseeing cash management, and managing the company’s capital investment activity. Financial officers also play a significant role in a company’s merger and/or acquisition activities. The average salary for treasurers and financial officers in the U.S. is $123,335. 

  • Cash Managers – Cash managers are responsible for overseeing and controlling cash flow for both accounts receivable and accounts payable. He or she is also responsible for ensuring that the cash position of the company is sufficient to meet current and forecasted needs, and whether adjustments in investment quantity and type are necessary.
  • Risk and Insurance Managers – Risk managers and insurance managers help minimize the amount of loss and risk a company incurs, as well as the amount of risk to which the company is exposed. If you’re thinking about going into the risk management field, you should have a basic understanding of profit and loss management. The average salary for risk and insurance managers is $98,330.
  • Investment Bankers – Investment bankers will work together with investors and institutions in order to raise capital. An MBA in the investment field can be an enormous asset because you’ll be giving advice to your clients in order to raise large amounts of capital for them. Starting salaries with an MBA degree range from $90,000 to $180,000 (after bonuses). Bonuses are typically between 10 to 50% of your salary to start.

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