A master’s in finance degree readies student for advanced careers both inside and outside of the financial sector, providing the theory and training necessary for managing the financial health of various employers and clients. Graduates may work as advisors, analysts, actuaries or managers, and may be self-employed or work for companies or institutions large or small. The primary goal of any of these career paths is to plan for the financial future using research, assessment and analysis — all of which are developed through a master’s in finance curriculum.
Actuary
Actuaries are in the business of risk management, putting mathematics to work in order to ensure profitability for companies that deal in financial risks and rewards. Using financial theory, statistics and advanced computer software, these professionals assess levels of risk and then propose strategies and policies for mitigating the financial consequences of that risk. Insurance companies are the largest employers of actuaries, but other possible areas of work include banks and investment firms or government agencies. Private corporations also hire actuaries to design and evaluate pension and retirement benefits plans. To pursue a career as an actuary, master’s in finance graduates must pass examinations and gain admittance as an Associate into a professional society such as the Society of Actuaries.
Personal Financial Advisor
For many people, important money matters such as taxes, investments and retirement can be difficult to manage alone. Personal financial advisors offer their services to individuals and families trying make the most out of their money, whether they need advice on specific financial situations such as sending a child to college or a long-term plan for investments or retirement. A typical day’s work for a personal financial advisor may include marketing their services, meeting with clients to assess and explain financial needs, researching or recommending investments and monitoring client accounts. Many personal financial advisors are self-employed, and the job outlook is strong, according the U.S. Bureau of Labor Statistics.
Financial Analyst
Financial analysts follow the fast-fluctuating world of financial trends, assessing the performance of investments such as stocks and bonds and then recommending strategies to their clients or employers. Possible work environments include banks, insurance companies, securities firms and mutual funds. Some financial analysts also work for the media, providing impartial analysis of the latest economic news. Though high-paced and high-stress, the position of financial analyst is also well-paid and offers good upward mobility, and is ranked as one of the top business jobs by the U.S. News and World Report.
Financial Manager
Financial managers work in a supervisorial role, monitoring the financial health of their employing institution. Often working in a team setting, financial managers analyze data and market trends, prepare reports and statements, oversee other employees and advise senior management on financial decisions. Financial managers typically have several years of experience within the business or financial fields prior to managerial promotion, and a master’s in finance degree can make candidates for the position more competitive. Though not required, professional certification is available and may increase job prospects in some cases. According to the United States Bureau of Labor Statistics, the leading industries for the employment of financial managers are the finance and insurance industries, private enterprises, technical and scientific services, manufacturing and the government sector.
Regardless of a master’s in finance student’s intended career path, networking and internships throughout college should pay off on the job search. As changes in technology, government and an increasingly globalized economy continue to pose new challenges and opportunities, the financial world will need professionals who possess the kind of business sense a master’s in finance degree provides.
