Masters in Finance

“Master”, as in a Master degree, comes from the Latin magister (which means teacher) and magus (which means magician), stated Associate Dean Joseph Duggan of the University of California, Berkeley’s Graduate Division. Pursuing a Masters in Finance will allow you to study the discipline so deeply that you could effectively teach it; it will also allow you to work your magic as you advance your career, expertise and ultimately your salary.

Depending on the graduate school you attend, a masters degree in finance may be open to those who do not have a background in business or finance or alternatively to those who have been working in the financial world and wish to rise up the ranks to more prestigious positions. Several universities will offer online Masters in Finance programs so you can continue working part or full time or maintain your personal or familial obligations.

For those who already have an undergraduate degree in Finance or have worked in the field, a Master’s degree will provide you with a more specialized form of education as you become an expert on some of the more detailed complexities associated with financial forecasting and financial engineering, for example. For those switching careers, a masters degree in finance will guide your transition into a new, fulfilling profession.

Master’s Degree Prerequisites

Naturally, to be admitted into a Masters in Finance program, you need to have already completed a Bachelor’s degree and will have to submit at least one transcript demonstrating this. Many graduate schools will also ask for letters of recommendation, a resume or CV and a personal essay. Depending on the university, you may need to have coursework or a proven background in economics, mathematics/statistics and finance foundations; alternatively some schools may not require this. Some graduate schools may also ask for standardized test scores (i.e. GMAT or GRE). When looking at universities, make sure you have a firm understanding of what the pre-requisites are for the masters degree in finance program; it s a good idea to talk to a school representative or a faculty member.

Why pursue a Master’s degree in Business or Finance?

The world economy and technology is continuously evolving and becoming more complex. This has a direct effect on domestic and global finances and calls for professionals who have a deeper understanding of these emerging intricacies. Whether you have been working in finance all along or are changing career paths, a Masters in Finance will allow you to become more specialized than an undergraduate degree would and thus making you eligible for higher ranking, higher paying positions. For example, employers prefer potential financial managers and chief financial officers to have a Master’s degree, states the Bureau of Labor Statistics. Additionally most Masters in Finance programs offer a valuable experiential component – whether it is a thesis, research project, practicum or capstone course – so that you can truly understand and practice what you have learned in your graduate level courses.

What kind of courses will I be taking?

Masters in Finance courses vary from school to school, but examples of subjects include:

A practical component is almost always included, ranging from an independent research project to internships. (While you pursue your graduate degree, you may have the option to concentrate in a particular specialty or gear your thesis or practicum towards your career goals).

What types of jobs can I get with a Masters in Finance?

Various jobs are open to those who complete a masters degree in finance. Examples of careers include:

• Chief Financial Officer
• Corporate Financial Officer
• Equity Manager
• Financial Model Builder
• Investment Manager
• Comptroller/Controller/Treasurer

• Credit Manager
• Financial Risk Manager
• Mutual Fund/Hedge Fund/Portfolio Manager
• Commercial/Investing Banker
• Commercial Loan Officer
• Financial Analyst
• Financial Planner