Why Choose a Finance MBA No GMAT

The MBA degree was developed by Harvard some time ago, and it didn’t take long for other schools to pick up on it. Not just that, it soon started to be developed with specific concentrations, and the Finance MBA was one of the first concentrations made available. Interestingly, however, over the past few years, the concentration has lost somewhat its popularity. It is believed that this has been a direct result of the recent financial crisis.

However, schools have made significant changes to their curriculum and delivery methods of Finance MBA degrees in response to the financial crisis. They have worked very hard on incorporating the lessons learned from the financial crisis in order to develop professionals who can help prevent such a crisis from ever happening again. In today’s programs, a lot of focus is placed on the game changers of global economies. And, as a result, the degree is once again gaining in popularity and employers are once again looking out specifically for Finance MBA graduates.

Why Earn a Finance MBA?

When you complete a Finance MBA, a wealth of career opportunities start to open up to you. As described above, the concentration is one of the oldest within the MBA system, and employers are specifically looking for graduates to help them improve financial systems the world over. Because finance drives every type of industry, including public, private, and nonprofit, there are interesting career opportunities available across the board.

When you complete a Finance MBA, you will be equipped with both the business and financial knowledge that is required to work across all industries. Usually, you will have to complete an internship as part of your degree program, generally speaking in some of the most important companies in the world, which also gives you fantastic networking opportunities.

Featured Finance MBA Programs

Admission Requirements

Schools can set admission requirements that they believe are most relevant to their particular degree program. However, they are usually quite similar across the board. Hence, the admission requirements of the Johnson Cornell Business are representative of those you can expect at other schools. They are:

• A resume
• Two or three essays
• A list of personal activities
• One or two professional letters of recommendation
• A bachelor’s degree from an accredited university
• GMAT/GRE scores
• TOEFL/IELTS for non-native English speakers

Curriculum and Courses

There is no legal requirement for a Finance MBA to hold a set amount of courses. However, in order for a school to obtain regional accreditation, it must demonstrate a certain standard of education. And if the program itself is accredited as well, this demonstrates an even higher standard. This is why it is recommended to search for a school that offers an accredited degree program, as it guarantees you that your skills and knowledge will be respected across the country, if not the world.

The curriculum offered as part of the Finance MBA at the University of Phoenix is an example of an excellent curriculum that truly prepares you to take on a role in senior level finance positions. Their courses include:

• Management
• Human Capital Management
• Business Law
• Organizational Leadership
• Quantitative Reasoning for Business
• Economics
• Accounting
• Applied Business Research & Statistics
• Operations Management
• Corporate Finance
• Marketing
• Strategic Planning & Implementation
• Global Capital Markets
• Financial Controlling
• Audit and Compliance Management
• Real Estate Investment
• Mergers and Acquisitions
• Investment Banking

Career Outcomes and Job Titles

With a Finance MBA, you will be equipped with the skills and knowledge to take on executive finance positions across the range of different organizations, as finance is a driving factor across the board. Some of the more popular job titles for Finance MBA degree holders include:

• Financial Controller
• Finance Director
• Chief Financial Officer (CFO)
• Senior Financial Analyst
• Investment Banker
• Commercial Banker
• Insurance Finance Manager
• Real Estate Manager

Job Salary & Outlook

The U.S. Bureau of Labor Statistics (BLS) reported that Computer and Financial Managers earned an average annual salary of $117,990 per year as of May 2015. This is at bachelor’s degree level, and research has shown that holding an MBA can increase average earnings by around $15,000 per year, meaning you could earn a very interesting income with this MBA degree. The BLS also predicts a 7% increase in demand for these professionals from 2014 to 2024, which is as fast as the national average.

Scholarships and Grants

FINCAD Women in Finance Scholarship, which is offered to outstanding women who are completing graduate level studies in the world of finance. Applications are accepted from students at all accredited national universities. Preference is given to those who specialize in financial risk management and/or use derivatives in capital markets. Women of any age and citizenship can apply. Two scholarships are awarded each year, to the value of $10,000.

C200 Scholar Awards, which are worth $10,000 delivered as part of the “Reachout Program”, in which female entrepreneurs and business leaders who are studying towards an MBA program at different universities are partnered together. Through the program, some 200 different students will receive the award, based on their entrepreneurial spirit and leadership skills. Financial need and merit drive whether or not someone will be considered for the award.

Chicana/Latina Foundation Scholarship Program, which is a $1,500 award offered to Chicana or Latina students in Northern California. The award is based on merit and is only offered in certain counties within the state of California.

Jane M. Klausman Women in Business Scholarship, which is designed just for women, and particularly for those who are completing an MBA degree. 12 awards of $7,000 are offered through international scholarships. In addition, various $1,000 scholarship awards are delivered through local affiliates.

Little Family Foundation MBA Fellowship, which is offered to students who taught through JA (Junior Achievement) programs. They must also have at least two years professional experience in the field of business. Through the Little Family Foundation, a matching grant toward tuition cost is offered in the amount of $2,500, together with participating schools. This means students can receive $5,000 of relief.

Additional Resources

The American Finance Association
FMA International
International Project Finance Association (IPFA)
Western Finance Association