What is the Difference Between a MBA and an MBA in Finance?

MBA in FinanceThe main difference between MBA and MBA in Finance degrees is that an MBA covers accounting, marketing, information technology, management, finance and other business subjects while an MBA in Finance covers these subjects with a focus on quantitative finance. MBA in Finance graduates must have a strong comprehension of financial mathematics and accounting, while graduates of other MBA programs may be better suited to human resources, entrepreneurship or leadership in general.

An MBA in Finance is closely related to a Master of Finance degree, with the MBA preparing graduates for executive management careers. Recipients of all MBA degrees hold jobs in consulting, finance, manufacturing, healthcare, public service and consumer goods. MBA in Finance graduates hold jobs in all of these sectors as well but are more qualified for specialist financial positions.

Difference Between MBA in Finance and Other MBA Specializations

An MBA in Finance is just one of many specializations offered for MBA students. Other specializations include marketing, investment management, real estate, management information systems, entrepreneurship, risk management and many others. Most specializations focus on management because MBA students typically enter executive management positions.

MBA students specializing in finance may take fewer business courses than students in other specializations. This policy gives MBA in Finance majors more time to focus on financial mathematics, investment management and corporate finance during their coursework.

The first year of a two-year MBA degree focuses on core competency in subjects such as economics, accounting, human resources, financial management and business ethics. Between the first and second year, students usually apply for internships in a variety of sectors. During the second year, coursework is focused on the student’s specialization, electives and major capstone. The capstone includes half a semester of study and another half working on a research dissertation.

Related Resource: Online MBA Degree

Career Prospects for MBA and MBA in Finance Graduates

During the economic recession of 2008 and its aftermath, career opportunities for MBA and MBA in Finance graduates grew slowly if at all. While positions in real estate, manufacturing, entertainment and technology increased, investment jobs in Wall Street declined steeply. In 2011, a loss of 200,000 financial jobs in Wall Street investment firms was recorded, according to Businessweek.

Since the worst point of the recession, careers for MBA graduates have dramatically improved, with public sector jobs increasing 100 percent. Female MBA graduates, in particular, found a 67 percent increase in the number of legal sector jobs.

The U.S. Bureau of Labor Statistics reports that jobs for business executives and financial managers are expected to grow at an average rate over the next decade. Competition for executive positions is expected to be strong, and there will likely be fewer financial positions available than applicants. Job seekers with MBA and MBA in Finance degrees should have the best chances of obtaining these positions.

The median salary for executives in 2012 was $101,650, while the median salary for financial managers was $109,740. The top 10 percent of earners in both fields took home $187,200 per year or more.

MBA in Finance majors should have a passion for investment management, quantitative analysis and executive administration, while general MBA graduates should be natural leaders and passionate about accounting, marketing and other business subjects. The difference between MBA and MBA in Finance degrees is subtle, but results in divergent career paths.