MBA vs. Master in Finance: What's the Difference?

 

MBA vs. Master of Finance: An Overview

Those looking to pursue a career in finance are often encouraged to further their education by earning a Master of Business Administration (MBA). An MBA offers a broad curriculum in finance, markets, accounting, entrepreneurship, and management.

But a more focused and increasingly popular alternative is the master's degree in finance – also known as the Master of Finance, Master in Finance, or MF. Choosing which of these programs is best for a prospective student can be difficult, but both programs offer high-paying career opportunities.

What is the difference between these programs? The MBA enables graduates to acquire a broader set of skills and knowledge, made up of multiple aspects of business. An MF program, on the other hand, is much more specific to finance. The candidate's career goals will largely determine the type of program they choose.

Key points to remember

  • Graduates of MBA and MF programs can expect to receive a quality education that will enable them to further their careers.
  • An MBA offers greater flexibility in terms of study program and the possibility of taking part-time courses.
  • MBA programs are increasingly crowded, while business schools are becoming more competitive.
  • An MF is a good alternative for students looking for a finance-specific career while devoting only one year to graduation.


MBA

Obtaining an MBA can be an important step in the ascent of business. MBA courses cover a wide range of business-related topics, including accounting, statistics, economics, communications, management, and entrepreneurship. MBA programs prepare students to work for financial institutions such as banks, government agencies and non-profit organizations, start-ups and other established companies in many fields. Candidates should generally have a good GPA and score high enough on the GMAT exam.

There are two possible paths to earning an MBA: a full-time or part-time program. Although both lead to an MBA, there is a trade-off: a full-time student will not earn much money during the 18-36 months they spend in school. These programs are therefore most popular with young people who have recently graduated and can afford to study full-time on campus.

Part-time MBA programs usually come in two flavors. The Executive MBA (EMBA) is designed for students who have been in the workforce for some time in leadership or management roles. They are 38 years old on average. These programs can be very expensive; typically, employers take note. The other part-time MBA is for employees who are working full-time, but not yet in managerial positions. These students attend after-work, evening, or weekend classes to enhance their careers.

Masters in Finance

For students who wish to focus specifically on finance or closely related areas, the MF degree may be appropriate. MF programs focus on finance comprehensively, with courses in financial theory, mathematics, quantitative finance, investments, markets, financial reporting and analysis, and valuation. These programs typically require no prior work experience, so students are typically younger than their MBA counterparts.

MF programs tend to be shorter, taking only one year of full-time study. They are also increasingly popular.

While the MBA prepares students to work in a variety of fields, the MF trains its graduates to enter fields such as business, investments, or risk management. MF graduates can expect to earn lower salaries than MBAs, as the latter usually already have relevant work experience and learn a wider range of skills. But as more and more universities offer MBA programs, the field is getting a bit more crowded and people are looking for alternatives.

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