Job prospects of MFin

Those who are looking for a career in the finance industry can pursue Masters in Finance. As other than general perception, there are a lot of career paths one can choose other than banking. According to the US Bureau of Labor, jobs in business and finance will grow by 10 percent by 2026. Also, the degree in finance is accepted globally, so, one gets the opportunity to work worldwide. Many people also think that this is an alternative to an MBA degree.

Pursuing this course from a reputed university can accelerate your career growth manifold. Those who want to go into finance but don't want to study MBA can go for Masters in Finance. An MBA can take up to two years, whereas Master’s in Finance can easily be pursued in just one year. This makes it less expensive in comparison to an MBA. After getting this degree, MFin graduates can look for working in investment banks, commercial banks, accounting firms, and financial organizations.

Top Schools for pursuing Master’s in Finance

• MIT Solan
• EDHEC
• HEC Paris
• Imperial College London
• Bocconi University

Major Job profiles and the median salary of MFin graduates

• Financial Analyst - $60,000 - $70,000
• Financial Managers - $70,000 - $115,000
• Broker/Stock Broker - $70,000
• Investment Banker - $75,000
• Wealth Manager -  $115,000
• Commercial banking professionals - $50,000
• Financial Planners - $75,000
• Insurance Specialists - $70,000

Financial Analyst

At first, it looks, just a simple job of researching and advising clients based on their skills and research, however, the job holds a lot of responsibility. The Financial Analysts can work for commercial banks, insurance firms, brokerage firms and institutions related to financial planning. They collect financial data and create reports by using statistical analysis and advise their clients in achieving their financial goals. They are the ones who look for the right areas where one can invest and are also responsible for handling risk management.

Financial Manager

Other than banks, they can work for any company which deals in finance. They are the ones who are responsible for handling a large amount of money. Financial Managers are involved in strategic analysis apart from monitoring data and handling large accounts. They prepare financial reports and also handle budgets and use their skills to minimize financial risks.

Broker

This job includes a lot of responsibility where you have to use analytical skills and inform clients about investing in the right stocks at the right time. Here, you to stay updated with every news that is affecting markets. Also, you need to do extensive market research to take accurate investing decisions for your clients. Apart from this, communication is also important for this job role.

Investment Banker

This is one of the most challenging fields and now with ever-increasing competition, this job includes a lot of accountability as well. The Investment Banker has to deal with a large amount of money that often involves complex transactions. They have the job of increasing the wealth of their clients. Apart from individual clients, they have to deal with mergers and acquisitions of companies. Here, they should not only be aware of the market conditions but also have sound knowledge of corporate laws and authorities dealing with it. Once you gain enough experience in this domain, the salaries can go much higher. According to Investopedia, experienced professionals can earn anywhere up to US$500,000.

Wealth Manager

If you love handling financial assets and are good at handling finances then this is job profile is for you. Here you will be responsible for handling the wealth of the ultra-rich or high net worth individuals (HNIs). Market understanding and analytical skills are primary for any Wealth manager. They have to serve the advisory role to their clients while managing their wealth.

Commercial Bankers

There are various roles one can choose in a commercial bank like branch managers or relationship managers. According to the U.S. Bureau of Labor Statistics, the commercial lenders having one to three experience can easily earn between US$60,000 to US$90,000. Commercial banker’s job is less hectic in comparison to Investment bankers. They usually have standard working hours. Even at higher positions, they usually have fixed hours, which means they can easily maintain a work-life balance while earning impressively.

Apart from the above-mentioned job profiles, projected growth for Personal Financial Advisors is 30% till 2024. So, this degree has a lot of potential for those who are passionate.

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