If you are a professional with a bachelor's degree in Finance, then you are probably already aware of the career paths you can take to establish yourself as an experienced finance professional. As a finance or business graduate you might have explored various theories and principles introducing you to the world of finance, however if you want to take your career one step ahead and expand your area of expertise, then a master degree programme in finance will take you a long way in the field of finance.
There are several universities offering master in finance, either full time or online. Depending upon your availability and cost constraints, you can choose a programme that well suits your needs. According to the Bureau of Labour Statistics, the field of finance is set to grow by at least 19% in the next six to seven years. Finance professionals are known to have some of the highest paying jobs, one that also comes with rewarding careers and long working hours.
If you are a finance professional looking to upgrade your knowledge with a master's degree in finance, then below are some of the finance pathways that you can consider.
- Finance Manager: The Financial Manager is the caretakers of an organisation's financial health. The job roles include overseeing all financial transactions, conducting cost-benefit analysis, evaluation investment options and setting overall financial objectives for the company's growth. A master's degree in a finance or related discipline along with 5 years of experience in a finance related position are some of the pre requisites to land a job role as a finance manager. The average pay of a finance manager in UAE, as per Payscale is AED 237K per annum.
- Investment Banker: According to Deperiso (2018), Investment Bankers assist clients with making the right investment whilst calculating risks versus benefits involved. Investment Bankers also go by the name Securities, Commodities and Financial Services Sales Agent and connect buyers and sellers in financial commodities transactions. They are involved in Trading and Selling of debts, equities, stocks, etc to raise capital and are also instrumental in Mergers and Acquisitions. As per the Bureau of Labour Statistics, this job role is expected to experience a growth of 6% in the next 6 to 7 years. In UAE alone, the annual average pay rate for this role is approximately AED 287K.
- Senior Financial Analyst: Financial Analysts are officials involved in evaluation of operations costs and help in identifying a company's financial health by evaluating reports, financial data and growth rate. Upon collecting data, financial Analysts provide a sound advice and feedback to the organisation's management to formulate future financial strategies. Financial analysts maintain insider knowledge of industrial trends are instrumental in determining a company's net worth in the market. A typical day of a financial analyst is filled with meetings with clients for various investment opportunities and requires intensive research on industrial growth and developmental trends. A typical annual pay rate for this role is approximately AED 157K.
- Commercial Bankers: According to Kathy Adams for Careertrend, Candidates with a master's in finance degree can also venture into the banking industry with job roles such as Commercial Bankers. As the name suggests, commercial bankers provide financial services to their clients, whether it is personal loans, business accounts, insurance, wealth management etc. In large banks, commercial bankers specialise in a particular area of services and offer advice and consultation on choosing the right banking product. Clients normally prefer to work with one commercial banker that they have previously dealt with, hence requiring commercial bankers to build lasting relationships for repeat business. Depending upon the department that you wish to work with, as a commercial manager, your average annual salary expectations can fall anywhere between $35K to $42K.
As we evaluate the various career pathways available for finance professionals, one sees a rising trend of masters degree holders, working for major investment management firms such as JP Morgan Chase, BlackRock and Allianz Group (Lemke, 2019). At Stafford, our online MSc Finance degree from the University of Leicester is a promising finance programme offering insightful knowledge and expertise for candidates looking to build a high profile career in finance. The Leicester MSc Finance is a purely online degree that you can study without leaving your job and social commitments and awards you with the same qualification without having the need to attend the campus. Our finance graduates work with various large scale corporations and the University of Leicester's Career Management Service is always here to help you make the right career choice.