By choosing a Master of Business Administration (MBA) specialization, you can gain essential business skills while focusing on your career goals. Many students opt for an MBA in financial management due to its popularity and high demand. The U.S. Bureau of Labor Statistics (BLS) projects the demand for financial managers to grow by 17% — much faster than average — from 2021 to 2031. The field includes a wide selection of industries and specializations, including corporate finance, corporate banking, credit risk management, asset management and private equity.
The versatility of Lamar University’s MBA in Financial Management online program prepares graduates for many roles within these areas. The benefits of earning this degree are many, but the most significant include higher pay, specific skills, increased versatility and professional connections. Below are five potential career possibilities for graduates with this degree, including the types of employers, common responsibilities and compensation. (Note: Salary data is provided by Salary.com as of April 2023.)
Investment Banker: The average salary range for this position — which factors in education, experience and other elements — is between $77,046 and $94,494. Investment bankers usually work for financial institutions, investment banks or securities firms, although they can also work independently as self-employed contractors. These professionals provide financial advisory services to clients such as corporations, governments and non-profit organizations to raise capital through underwriting and issuing securities.
Primary duties for this role include:
- Evaluating clients’ financial requirements and suggesting suitable solutions
- Offering advice regarding corporate finance concerns, including mergers and acquisitions
- Underwriting securities and issuing them via initial public offerings (IPOs)
- Aiding clients in the creation and dissemination of financial materials
- Providing clients with market insights and financial analysis
Chief Financial Officer (CFO): The median salary range for this role is between $322,600 and $546,200, depending on factors including experience, accomplishments and organization size. CFOs can work for corporations, non-profit organizations, government agencies, financial institutions such as banks and investment firms and other institutions. They are responsible for the state of finances within their organizations, managing financial operations and strategy and ensuring financial stability and growth.
Primary duties for this role include:
- Developing and implementing high-level strategies that align with business objectives
- Overseeing financial reporting and analysis, including budgeting and financial modeling
- Managing risks, including investment decisions, credit management and insurance coverage
- Leading financial operations, including accounting, tax, audit, compliance and treasury functions
- Providing financial insights and recommendations to senior executives and the board of directors to support strategic decision-making
Vice President of Corporate Finance: The median salary range for this role is between $116,435 and $144,633. Salaries vary based on experience, accomplishments, the corporation’s market capitalization and other factors. This role exists in several types of businesses, including corporations, investment banks, financial institutions and private equity firms. VPs of corporate finance manage the financial operations of the organization and provide strategic financial advice to senior executives. In larger corporations and entities, the VP of Finance reports to the CFO and supports them in achieving revenue-building goals and securing funding for major company initiatives.
Primary duties for this role include:
- Developing and implementing financial strategies that align with the company’s objectives
- Managing financial operations, including budgeting, forecasting, financial reporting and analysis
- Identifying and conducting due diligence on potential investment opportunities
- Advising senior executives on financial matters, including capital allocation, risk management and corporate finance transactions
- Building relationships with investors, financial institutions and other stakeholders to support the company’s financial objectives
Senior Credit Manager: The median salary range for this role is between $194,001 and $287,401. Compensation varies depending on education, experience, organization size and other factors. Senior credit managers or officers can work for various types of organizations, including banks, credit unions, insurance companies and other financial institutions. They are responsible for managing credit risk and making lending decisions.
Primary duties for this role include:
- Assessing clients’ creditworthiness by reviewing and analyzing their financial statements
- Evaluating applicants’ ability to repay and recommending whether to approve or decline loans
- Assisting underwriters in preparing loan packages that comply with government regulations
- Collaborating with legal professionals to ensure compliance with all legal requirements
- Overseeing client accounts and monitoring for loan delinquencies and bankruptcies
Portfolio Manager: The median salary range for this position falls between $97,380 and $136,560, with variability depending on factors like education, experience and accomplishments. Some examples of companies that employ portfolio managers include investment banks, hedge funds, asset management firms, mutual fund companies, pension funds and insurance companies. They are responsible for managing investment portfolios, making investment decisions and ensuring that the portfolios align with clients’ investment objectives and risk tolerance.
Primary duties for this role include:
- Making investment recommendations based on clients’ objectives and risk tolerance
- Conducting market research and analysis to identify trends and opportunities for investment
- Developing and implementing investment strategies to achieve clients’ financial goals
- Monitoring portfolio performance and making adjustments to ensure the portfolio remains aligned with clients’ objectives
- Communicating with clients about portfolio performance, investment strategies and market conditions to provide ongoing guidance
These are just five career possibilities for which the Lamar University MBA in Financial Management online program provides proven training and preparation. Program graduates can combine strategic leadership with real-world application of financial tools and techniques to deliver results across financially driven industries and in a wide variety of leadership roles.
Learn more about Lamar University’s online MBA in Financial Management program.
