Myriad careers are available to MBA finance majors, including providing support for senior company officers.
Whether you choose to complete a master's degree in business administration -- an MBA -- immediately after earning an undergraduate degree or you're going back to school after years in the workforce, an MBA finance degree can increase your salary and your advancement opportunities. Choosing to concentrate in the area of finance also opens up numerous career possibilities. Admissions requirements for MBA programs vary among schools across the United States, but common criteria include an undergraduate business degree, work experience -- usually a couple of years for full-time programs -- a high GPA, strong admissions test scores and letters of recommendation.
Chief Financial Officer
The goal of many MBA candidates is to become the chief financial officer of a company, if not the chief executive. CFOs oversee all financial and accounting aspects of a corporation's operations in addition to directing a company's financial goals, strategies and tactics. CFOs don't start at the top, so you must begin your career -- if you haven't already started -- at a staff or manager level and work your way up. According to Salary.com, the median salary of CFOs is $332,677 in the United States.
Treasurer
A company's treasurer often serves as the CFO's right-hand person, supervising the day-to-day financial, cash-flow, accounting and budgetary issues of a company. The treasurer is less involved in policy than a CFO and more involved in the nuts-and-bolts of financial operations. Salary.com places the median salary of treasurers at $193,115.
Controller
Controllers generally are responsible for all financial reporting done by a corporation. They write the reports themselves or oversee the preparation of documents, including filing requirements for the Securities and Exchange Commission, and other legal documents for regulatory agencies, such as annual reports. Income statements, balance sheets and earnings analyses are among the reports for which a controller is responsible. Controllers report to the CFO or a senior financial officer. They might supervise financial departments, such as accounting, and they usually deal with audits and must meet with outside auditing firms. The median salary for a financial controller, according to Salary.com, is $169,159.
Accountant/Accounting Manager
Although people who hold MBAs normally don't start a career as an accountant, it may be necessary to do so in large companies. Aspiring MBAs sometimes begin their careers as accountants before returning to school to complete advanced degrees, including concentrations in finance. As an accounting manager, an MBA finance major would supervise a staff or department of accountants, usually providing income statements, tax reports and other related documentation necessary for other company personnel to do their jobs. Passing a certified public accountant exam may be required. According to Salary.com, the median salary of an accounting manager is $82,774.
Cash Manager
Dealing with accounts receivable and accounts payable, cash managers ensure that companies have the requisite funds needed to meet current and future financial obligations, such as payroll and other overhead. Aside from supervising the company's cash-flow needs, cash managers might be involved in decisions such as loan recommendations. The median salary for a cash management manager, according to Salary.com, is $87,997.
Financial Manager/Financial Analyst
Analysts and managers support a company's decision-making process by utilizing accepted accounting procedures to produce reports and other documentation. Using financial analysis methodology, financial managers and analysts allow senior officers to make informed decisions about investment possibilities, business growth plans, and strategic and tactical planning. Specialized analysts may have expertise in areas such as mergers and acquisitions, or international and global financial acumen. According to Salary.com, the median salary for a financial analyst I is $48,730; for a financial analyst IV the salary is $85,680. (See Resources 1)
Investment Banker
Most investment bankers are employed by Wall Street firms or similar investment institutions, working with companies that are attempting to raise capital in order to expand business operations. Larger corporations often employ their own investment banking specialists to interact with lending institutions. Investment banks usually have mergers and acquisitions departments, designed specifically to assist companies with such transactions. Some investment bankers receive additional training, often in the form of a chartered financial analyst designation. The starting salary for an MBA investment banker is $90,000 to $180,000, with bonuses at 10 percent to 50 percent, according to Careers in Finance.
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