Do you aspire to work in commercial or corporate banking, real estate, financial planning or investment services? A master’s degree in finance is an advantageous step toward your career goals. Of course, it’s no guarantee of future success, but it will definitely give you a leg up. If you are interested in specific areas of finance and accounting, a finance master’s degree can provide you with several important tools:
1. Practical Experience
While you do have to be a good mathematician to go into finance, that is not the only skill you’ll need. To work in finance, you also need the right personality and practical experience in the financial field. You’ll need to have people skills to negotiate budgets and contracts. You will need to balance assertiveness with diplomacy. It’s important to be tactful, concise, and clear when dealing with any organization, including human resource and sales departments, executives and clients with their own interests.
You’ll also need to be able to apply exemplary math skills to a variety of situations. That’s where practical knowledge comes in. A company will value a financial analyst’s ability to provide sensible solutions with adaptation and flexibility, while following sound accounting principles. Your goal should be to offer the full package.
A master’s degree in finance will an also provide practical experience when it comes to networking. Your education will help you learn to navigate various financial situations as well as to build contacts. Some contacts you make within the program will continue to be valuable business contacts in your chosen industry. While completing your program, build alliances with students and professors to draw from their experience and background in addition to your own.
2. Specialized Skills
In addition to practical accounting knowledge, you will need further specialized skills for the field you enter. If you have a passion for financial planning but feel you are lacking in presentation and organization skills, then a finance degree can help. Your education can provide courses designed to build specific skills for a particular job. Expect to develop some of these skills:
- Working budgets
- Negotiating contracts and terms
- Presenting financial reports
- Business communication
- Technical writing
- Stock market analyzing
- Risk management
- Market trading
- and others
While all of these skills are important, you may feel the need to focus on a few and expand your comfort zone. A master’s degree in finance can help you prepare for multifarious positions, whether you are interested in a management role, an analyst position or something else entirely.
3. Career Options
A finance master’s degree can provide a targeted education based on the career you’re passionate about. Choose an emphasis with courses that will be directly relevant to the position you hope to fill. Some specialized financial areas include the following:
- Commercial and investment banking
- Private and corporate banking
- Corporate management
- International financial management
- Financial planning services
- Tax services Investment services
- Insurance services and planning
Opportunities within each of these areas come with their own specific requirements in the broader financial arena. Your education will offer specialized training to help you build appropriate skills for the position.
Finance and accounting job prospects are growing. Be aware of the future job market for the type of position you want, then build the skills to meet the demand. Your projected salary can vary depending on the position, however, the overall outlook for finance graduates is promising–especially when you consider that financial opportunities are able to grow along with technological advances.
Make the decision to pursue a finance degree based on the practical applications. It can boost your employability, but only if you take the right approach with your studies. Keep these three advantages in mind, focus your studies accordingly, and you will find that your master’s degree in finance will enrich your life as well as provide favorable career advancement opportunities.