MBAs in Finance
Updated December 11, 2023 · 5 Min Read
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A master of business administration (MBA) in finance is a graduate degree that combines business and finance concepts. A finance MBA incorporates lectures, simulations, and research to help learners build upon their professional experience and advance their financial management skills.
For professionals who want to specialize in the financial aspects of business, like risk management or financial analytics, an MBA in finance may be more useful than a general MBA or a master's degree in finance. This degree covers specific finance content, like managerial accounting and supply chain management, and best suits students with prior knowledge of and experience in the field.
Explore the benefits of obtaining an MBA in finance and compare three top finance MBA programs.
Why Should You Choose a Finance MBA?
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Career Advancement
A finance MBA can help graduates qualify for advanced careers in the financial industry. For example, some employers seeking financial analysts or accountants may prefer candidates with MBAs. Additionally, certifications for professionals like accountants and financial examiners often require advanced education, a requirement which a finance MBA can help satisfy. -
Potential Increase in Job Security
An MBA in finance builds leadership and finance skills that can make professionals more valuable to the companies they work for, thereby potentially increasing job security. According to an August 2021 report from the Graduate Management Admission Council, 63% of graduates with a management degree like an MBA believe their degree improved their job security. -
Higher Earning Potential
October 2023 Payscale data shows an average base salary of $77,000 for bachelor's in finance graduates. In contrast, finance MBA graduates report an average base salary of $99,000, a trend which suggests MBAs can lead to higher salaries.
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Colleges With MBA in Finance Programs
We have compiled a list of four-year institutions, including nonprofit and for-profit schools, that have this degree program. Use the table below to compare average student population size and graduation rate.
| School | Student Population Size | Graduation Rate |
|---|---|---|
| University of North Carolina at Chapel Hill | 63,282 | 91% |
| Villanova University | 21,740 | 90% |
| University of North Carolina Wilmington | 17,843 | 72% |
| Babson College | 7,368 | 93% |
| University of Maryland, College Park | 40,709 | 86% |
| Webster University | 13,558 | 57% |
| Pennsylvania State University World Campus | 14,458 | 62% |
3 Top Schools Offering MBAs in Finance
University of North Carolina at Chapel Hill
UNC-Chapel Hill features an online MBA with a concentration in finance through the Kenan-Flagler Business School. Students can enroll full time or part time in the 62-credit program and finish the degree in 18-36 months.
With a mixture of synchronous class sessions and asynchronous coursework, this flexible, fully online program also lets learners take courses on campus for face-to-face instruction and peer interaction. Enrollees can access several career management resources online, including job market research and career coaching.
The tuition for UNC-Chapel Hill's MBA in finance is approximately $125,589 as of the 2023-24 school year. To assist with financing, students can apply for MBA-specific scholarships and the Forté Fellowship program.
University of Maryland, College Park
The online MBA from UMD's Robert H. Smith School of Business features a finance specialization that explores topics such as financial restructuring, applied equity analysis, and commercial bank management. Students can complete the 54- to 56-credit program in as few as 24 months.
Students must attend two campus residencies: one at the beginning of the program and one toward the end. The ending residency serves as a capstone where students apply their knowledge in a business simulation.
UMD charges in-state and out-of-state learners the same tuition for its online MBA. The estimated total tuition for the program is approximately $93,582 as of the 2023-24 school year.
Villanova University
Located in Villanova, Pennsylvania, Villanova offers a 48-credit MBA with a finance concentration, available online with synchronous lectures and asynchronous assignments. Students can also incorporate on-campus courses into their program to meet their learning needs.
Villanova's MBA includes three capstones. These courses cover global management and social enterprise consulting. During the program, learners can work with the school's career services team for mentorship and advice about building their online presence as business leaders. Enrollees can also attend professional development events and webinars.
Total tuition for this program is approximately $60,624 as of the 2023-24 school year. Enrollees can also apply for the MBA fellowship program, which offers free tuition to full-time students — learners taking 9-12 credits per semester — in exchange for 20 hours of work per week as research assistants.
Is a Finance MBA Worth It?
An MBA in finance may benefit professionals interested in advancing their careers, increasing their earning potential, and developing leadership skills. However, these graduate degrees often come with considerable time and financial investments.
For example, the three programs we highlight on this page have an average tuition of $93,263. Many MBA programs also take about two years to complete — often in addition to students' full-time jobs — though some have accelerated options requiring about one year of full-time study.
However, those time and cost investments can offer a positive return on investment: Payscale data from October 2023 highlights high-paying careers for finance MBA graduates, including $154,400 for chief financial officers and $129,560 for finance directors.
Frequently Asked Questions About MBAs in Finance
What is an MBA in finance?
An MBA in finance blends traditional management topics offered in general MBAs with advanced financial theory and practice. This degree typically explores financial consulting, advanced corporate finance, and global economics to prepare students for advanced careers in financial management.
What can you do with a finance MBA?
A finance MBA can help qualify graduates for numerous careers, including financial analyst, financial consultant, and finance manager. Students can also qualify for corporate controller, chief financial officer, and finance director jobs.
How much does an MBA in finance cost?
Annual tuition for MBAs in finance can range from $18,000 to $90,000, with total program cost ranging from $35,000 to $180,000. Tuition varies by school based on factors like public or private institution status and prestige. Though public schools often charge different tuition rates based on student state residency, some online programs offer in-state tuition to all enrollees.
Can you get a finance MBA online?
Yes. Several schools offer an MBA in finance online, including the University of North Carolina at Chapel Hill and Villanova University. Schools often design their online MBA programs for maximum flexibility, including asynchronous coursework, to fit full-time workers' schedules.
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