$43,958
Average Tuition – Finance MBA Programs
$81,754
Average Salary – Finance MBA Graduates
565
Average GMAT Requirements – Finance MBA Programs
146%
Average ROI – Finance MBA Programs
Executive Summary for Finance MBA Programs
- Comprehensive comparisons and data about tuition fees, average starting salaries, ROI, GMAT scores, and enrollment statistics for an MBA in Finance programs
- Detailed profiles of both online and on-campus MBA programs in Finance, their strengths, unique specializations, faculty expertise, and alumni networks are included to help align your study choice with your career ambitions
- Insights into diverse industries and roles, demonstrating how an MBA degree in Finance serves as a potent tool in these industries
The most popular and lucrative industries for MBA Finance graduates are consulting, financial services, and technology. Consulting offers rapid skill development and starting salaries between $115,000-$165,000. Financial services, including banking and investment, provides starting salaries of $105,000-$145,000. The technology sector is growing rapidly, with 86% of tech companies hiring MBA graduates at starting salaries of $105,000-$135,000. Other relevant sectors include healthcare, energy, and consumer packaged goods, all offering six-figure salaries for MBA graduates.
Top companies hiring MBA Finance graduates across the US include JP Morgan Chase & Co, Goldman Sachs, Morgan Stanley, McKinsey, Deloitte, Wells Fargo, Amazon, Google, Microsoft, and Apple. These firms offer roles such as financial analyst, investment banking analyst, management consultant, and various leadership positions. Many of these companies provide competitive salaries and opportunities for rapid career advancement.
The job market for MBA Finance graduates is robust, with the U.S. government predicting 10.9% growth in finance-related jobs by 2032. Financial manager positions are expected to grow 17% through 2031. The median advertised salary for finance positions requiring an MBA was $120,200 in 2022. Salary ranges vary widely based on role and experience, from around $80,000 for entry-level positions to over $200,000 for executive roles. Many positions in financial services, banking, and consulting offer six-figure salaries, with potential for significant increases as graduates gain experience and move into leadership roles.
10 Best Finance MBA Programs – ROI, Salary, Tuition
#1
Northwestern University
- Kellogg Global Hub, Evanston, IL - 60208-2001
- Institution Control: Private for-profit
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Dual-MBA, E-MBA, Masters in Business
- Offered as: Campus, Full-Time
Business School Details
Student / Faculty Ratio: 6:1
Tuition and Fees: $162,030
Total Enrollment: 2,329
Concentrations: Accounting, Communications, Data Analytics, E-Commerce +19 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 729
Graduate Salary: $175,000
AACSB Accredited: Business
Graduate ROI: 54%
#2
Stanford University
- Knight Management Center, Stanford, CA - 94305-7298
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Masters in Business, Masters Specialist
- Offered as: Campus, Full-Time
Business School Details
Student / Faculty Ratio: 5:1
Tuition and Fees: $165,591
Total Enrollment: 1,064
Concentrations: Accounting, Consulting, Data Analytics, Economics +16 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 737
Graduate Salary: $182,272
AACSB Accredited: Business
Graduate ROI: 55%
#3
Massachusetts Institute of Technology
- 50 Memorial Drive, E52-473, Cambridge, MA - 02142-1347
- Institution Control: Private for-profit
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Masters in Business, Masters Specialist, Undergraduate
- Offered as: Campus
Business School Details
Student / Faculty Ratio: 3:1
Tuition and Fees: $164,000
Total Enrollment: 1,664
Concentrations: Accounting, Economics, Education, Entrepreneurship +12 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 724
Graduate Salary: $159,391
AACSB Accredited: Business
Graduate ROI: 49%
#4
Columbia University
- 101 Uris Hall, New York, NY - 10027
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Masters in Business, Masters Specialist
- Offered as: Campus, Full-Time
Business School Details
Student / Faculty Ratio: 6:1
Tuition and Fees: $180,258
Total Enrollment: 4,036
Concentrations: Accounting, Consulting, Data Analytics, Economics +14 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 732
Graduate Salary: $162,099
AACSB Accredited: Business
Graduate ROI: 45%
#5
Duke University
- Box 90120, Durham, NC - 27708-0120
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Masters in Business, Masters Specialist
- Offered as: 1-Year, Campus, Evenings, Full-Time, Online, Weekends
Business School Details
Student / Faculty Ratio: 9:1
Tuition and Fees: $157,546
Total Enrollment: 2,084
Concentrations: Accounting, Consulting, Data Analytics, Economics +20 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 718
Graduate Salary: $152,297
AACSB Accredited: Business
Graduate ROI: 48%
#6
New York University
Leonard N. Stern School of Business
- Henry Kaufman Management Center, 11-160, New York, NY - 10012-1126
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Graduate Level Certificate, Integrated Undergraduate Masters, Masters in Business, Masters Specialist, Undergraduate
- Offered as: Campus, Full-Time
Business School Details
Student / Faculty Ratio: 14:1
Tuition and Fees: $160,130
Total Enrollment: 6,125
Concentrations: Accounting, Business Analytics, Economics, Entrepreneurship +15 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 733
Graduate Salary: $161,475
AACSB Accredited: Business
Graduate ROI: 50%
#7
The University of Michigan
Stephen M. Ross School of Business
- 701 Tappan Street, Ann Arbor, MI - 48109-1234
- Institution Control: Public
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Graduate Level Certificate, Masters in Business, Masters Specialist, Undergraduate
- Offered as: 1-Year, Campus, Evenings, Full-Time, Online, Part-Time, Partnership, Weekends
Business School Details
Student / Faculty Ratio: 14:1
Tuition and Fees: $137,056
Total Enrollment: 4,293
Concentrations: Accounting, E-Commerce, Economics, Education +20 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 720
Graduate Salary: $153,465
AACSB Accredited: Business
Graduate ROI: 56%
#8
University of Southern California
- 3670 Trousdale Parkway, Bridge Hall 100, Los Angeles, CA - 90089-0804
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Graduate Level Certificate, Masters in Business, Masters Specialist, Undergraduate
- Offered as: 1-Year, Campus, Distance Education, Evenings, Full-Time, Online, Part-Time, Partnership, Weekends
Business School Details
Student / Faculty Ratio: 14:1
Tuition and Fees: $154,339
Total Enrollment: 6,911
Concentrations: Accounting, Data Analytics, Economics, Entrepreneurship +15 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 732
Graduate Salary: $150,314
AACSB Accredited: Business and Accounting
Graduate ROI: 49%
#9
The University of North Carolina at Chapel Hill
- CB 3490, McColl Building, Chapel Hill, NC - 27599-3490
- Institution Control: Public
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Masters in Business, Masters Specialist, Undergraduate
- Offered as: Campus, Distance Education, Evenings, Full-Time, Online, Partnership, Weekends
Business School Details
Student / Faculty Ratio: 10:1
Tuition and Fees: $102,314
Total Enrollment: 2,820
Concentrations: Accounting, Data Analytics, Economics, Entrepreneurship +13 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 706
Graduate Salary: $133,517
AACSB Accredited: Business and Accounting
Graduate ROI: 65%
#10
Harvard University
- Dillon House, Boston, MA - 02163
- Institution Control: Private for-profit
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Masters in Business
- Offered as: Campus
Business School Details
Student / Faculty Ratio: 7:1
Tuition and Fees: $149,820
Total Enrollment: 1,945
Concentrations: Accounting, Consulting, Data Analytics, E-Commerce +22 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 730
Graduate Salary: $175,000
AACSB Accredited: Business
Graduate ROI: 58%
Bullet Points:
100 Best Finance MBA Programs – ROI, Salary, Tuition
Easily sort the table below by Rank, School Name, ROI, Tuition, Average Starting Salary, and State to find and to compare programs. Click on any school for a comprehensive review.
Rank | University | ROI | In State Tuition | Avg. Starting Salary | State | Online |
---|---|---|---|---|---|---|
1 | Northwestern University | 54.00% | $162,030 | $175,000 | IL | No |
2 | Stanford University | 55.04% | $165,591 | $182,272 | CA | No |
3 | Massachusetts Institute of Technology | 48.59% | $164,000 | $159,391 | MA | No |
4 | Columbia University | 44.96% | $180,258 | $162,099 | NY | No |
5 | Duke University | 48.33% | $157,546 | $152,297 | NC | Yes |
6 | New York University | 50.42% | $160,130 | $161,475 | NY | No |
7 | The University of Michigan | 55.99% | $137,056 | $153,465 | MI | Yes |
8 | University of Southern California | 48.70% | $154,339 | $150,314 | CA | Yes |
9 | The University of North Carolina at Chapel Hill | 65.25% | $102,314 | $133,517 | NC | Yes |
10 | Harvard University | 58.40% | $149,820 | $175,000 | MA | No |
11 | University of Pennsylvania | 46.26% | $179,852 | $166,391 | PA | No |
12 | Indiana University Bloomington/Indianapolis | 112.02% | $60,858 | $136,352 | IN | Yes |
13 | University of Massachusetts Boston | 318.68% | $19,499 | $124,277 | MA | Yes |
14 | The University of Chicago | 49.55% | $167,393 | $165,887 | IL | No |
15 | Brigham Young University | 101.87% | $58,544 | $119,281 | UT | No |
16 | University of Notre Dame | 53.85% | $123,500 | $133,018 | IN | No |
17 | Georgetown University | 55.50% | $124,814 | $138,552 | DC | Yes |
18 | Dartmouth College | 48.31% | $165,442 | $159,842 | NH | No |
19 | Southern Methodist University | 60.97% | $100,541 | $122,609 | TX | Yes |
20 | Rice University | 51.13% | $139,081 | $142,212 | TX | Yes |
21 | University of California, Berkeley | 54.73% | $139,628 | $152,831 | CA | No |
22 | The University of Texas at Dallas | 171.45% | $35,918 | $123,163 | TX | Yes |
23 | Yale University | 49.74% | $153,540 | $152,744 | CT | No |
24 | Emory University | 49.36% | $151,689 | $149,759 | GA | Yes |
25 | University of California, Los Angeles | 51.61% | $142,142 | $146,727 | CA | No |
26 | Vanderbilt University | 53.32% | $131,000 | $139,711 | TN | No |
27 | Cornell University | 35.29% | $219,688 | $155,048 | NY | No |
28 | University of Washington | 95.81% | $76,890 | $147,340 | WA | No |
29 | Washington University in St. Louis | 43.91% | $134,020 | $117,687 | MO | Yes |
30 | Georgia Institute of Technology | 107.89% | $63,404 | $136,819 | GA | No |
31 | Michigan State University | 172.92% | $34,564 | $119,539 | MI | Yes |
32 | University of Minnesota | 68.17% | $89,402 | $121,882 | MN | Yes |
33 | The George Washington University | 51.26% | $113,090 | $115,951 | DC | Yes |
34 | The University of Texas at Austin | 60.02% | $120,432 | $144,564 | TX | No |
35 | University of Rochester | 61.40% | $108,038 | $132,671 | NY | No |
36 | University of Virginia-Darden | 51.95% | $151,200 | $157,090 | VA | Yes |
37 | University of South Carolina | 182.06% | $26,485 | $96,435 | SC | Yes |
38 | University of California, Davis Business School | 61.53% | $88,634 | $109,075 | CA | Yes |
39 | Boston College | 49.36% | $118,336 | $116,815 | MA | No |
40 | Carnegie Mellon University | 50.21% | $147,456 | $148,067 | PA | Yes |
41 | Boston University | 48.65% | $124,248 | $120,884 | MA | Yes |
42 | Texas A&M University | 93.21% | $62,000 | $115,585 | TX | Yes |
43 | University of California, San Diego | 48.93% | $106,246 | $103,969 | CA | No |
44 | The University of Georgia | 196.87% | $30,606 | $120,510 | GA | Yes |
45 | University of Wisconsin-Madison | 107.05% | $55,575 | $118,983 | WI | No |
46 | Northeastern University | 48.77% | $102,582 | $100,063 | MA | Yes |
47 | University of Utah | 88.54% | $65,700 | $116,348 | UT | Yes |
48 | Fordham University | 64.08% | $99,497 | $127,511 | NY | Yes |
49 | The Pennsylvania State University | 93.48% | $61,236 | $114,483 | PA | Yes |
50 | Case Western Reserve University | 52.08% | $92,040 | $95,875 | OH | Yes |
51 | Indiana State University | 263.16% | $19,000 | $100,000 | IN | Yes |
52 | University of Maryland | 61.25% | $98,865 | $121,103 | MD | Yes |
53 | Lehigh University | 69.45% | $68,900 | $95,699 | PA | Yes |
54 | Babson College | 60.69% | $89,550 | $108,703 | MA | Yes |
55 | American University | 53.76% | $98,282 | $105,666 | DC | Yes |
56 | New Jersey Institute of Technology | 74.73% | $66,576 | $99,501 | NJ | Yes |
57 | University of Illinois at Chicago | 139.37% | $60,264 | $167,977 | IL | Yes |
58 | The University of Iowa | 240.52% | $23,453 | $112,820 | IA | Yes |
59 | University of California, Irvine | 63.13% | $97,342 | $122,899 | CA | Yes |
60 | Santa Clara University | 72.74% | $83,860 | $122,000 | CA | Yes |
61 | Brandeis University | 45.33% | $120,223 | $109,000 | MA | No |
62 | University of Florida | 221.35% | $26,473 | $117,197 | FL | Yes |
63 | University of Hartford | 156.62% | $30,168 | $94,500 | CT | Yes |
64 | The Ohio State University | 50.31% | $106,123 | $106,779 | OH | Yes |
65 | Queens University of Charlotte | 105.03% | $41,940 | $88,100 | NC | Yes |
66 | North Carolina A&T State University | 385.02% | $13,938 | $107,327 | NC | Yes |
67 | Texas Christian University | 46.60% | $115,380 | $107,543 | TX | Yes |
68 | Arizona State University | 101.59% | $61,354 | $124,664 | AZ | Yes |
69 | Baruch College-The City University of New York | 158.86% | $37,338 | $118,633 | NY | Yes |
70 | Stevens Institute of Technology | 52.15% | $81,880 | $85,398 | NJ | Yes |
71 | University of Cincinnati | 181.31% | $23,996 | $87,013 | OH | Yes |
72 | University of Massachusetts Amherst | 165.41% | $33,622 | $111,227 | MA | Yes |
73 | Miami University | 34.00% | $136,342 | $92,700 | OH | Yes |
74 | University of Miami | 59.35% | $92,290 | $109,555 | FL | Yes |
75 | Pepperdine University | 42.78% | $104,333 | $89,258 | CA | Yes |
76 | George Mason University | 145.88% | $37,737 | $110,100 | VA | Yes |
77 | Tulane University | 41.90% | $116,040 | $97,241 | LA | Yes |
78 | University of Colorado at Boulder | 83.40% | $55,997 | $93,401 | CO | No |
79 | University of Dallas | 95.86% | $45,900 | $88,000 | TX | Yes |
80 | The University of Arizona | 95.42% | $56,250 | $107,345 | AZ | Yes |
81 | University of Denver | 50.85% | $96,638 | $98,276 | CO | Yes |
82 | Temple University | 79.99% | $60,000 | $95,989 | PA | Yes |
83 | Syracuse University | 63.61% | $67,392 | $85,731 | NY | Yes |
84 | Georgia State University | 128.14% | $36,522 | $93,600 | GA | Yes |
85 | The University of Michigan-Dearborn | 91.38% | $50,997 | $93,200 | MI | Yes |
86 | Villanova University | 97.33% | $60,000 | $116,800 | PA | Yes |
87 | Xavier University | 128.80% | $34,200 | $88,100 | OH | Yes |
88 | University of San Francisco | 52.08% | $79,200 | $82,500 | CA | No |
89 | The Citadel | 267.29% | $21,830 | $116,700 | SC | Yes |
90 | University of San Diego | 72.79% | $69,610 | $101,333 | CA | No |
91 | Willamette University | 43.24% | $80,500 | $69,615 | OR | No |
92 | Hofstra University | 93.71% | $58,960 | $110,500 | NY | Yes |
93 | Oregon State University | 72.85% | $52,090 | $75,900 | OR | Yes |
94 | Saint Mary's College of California | 144.31% | $40,608 | $117,200 | CA | Yes |
95 | Clemson University | 91.40% | $43,088 | $78,767 | SC | Yes |
96 | Central Connecticut State University | 330.79% | $12,848 | $85,000 | CT | No |
97 | University of Nevada, Las Vegas | 215.34% | $21,784 | $93,820 | NV | Yes |
98 | Middle Tennessee State University | 166.59% | $26,712 | $89,000 | TN | Yes |
99 | Suffolk University | 67.73% | $59,391 | $80,455 | MA | Yes |
100 | University of Illinois at Urbana-Champaign | 145.83% | $33,772 | $98,500 | IL | Yes |
What is an MBA in Finance?
The MBA in Finance is targeted to those individuals currently working in or recent graduates aspiring to work in finance management or leadership. In addition to the traditional MBA building blocks, the MBA in Finance generally offers additional courses focusing on international finance, investment and corporate finance.
The MBA in Finance program can prepare you for careers in fields such as investment banking, securities, or even small business development. An MBA in Finance program includes foundational, non-specialized MBA concepts in key areas related to marketing, information technology, strategic planning, organizational development and accounting. These are key areas that can be applied to a variety of careers.
An MBA in Finance specialization provides understanding of the role of financial markets in a global economy and the ability to espouse the perspective of manager who is responsible for the financing and investment decisions for an organization. There is also the career path of an investment manager available to graduates with an MBA in Finance. The investment management career path requires a grasp of the perception that an investment or portfolio manager would have.
This type of manager is one who makes investment decisions and asset allocation strategies in today’s global financial markets. So even though you may seek to follow a more specific path of a financial manager or an investment manager, the skills of the two paths complement each other. They both involve answering the same types of questions. One path looks at the question internal to the market they are in and the other path looks at the question from a global perspective.
The courses within an MBA in Finance specialization gives students the tools to perform fundamental financial analysis such as forecasting, budgeting, and analyzing the cost/benefit of capital investment projects; upper level financial questions, such as how to structure capital, policies on dividends, mergers and acquisitions, and enterprise risk management; and investments tasks such as reviewing and analyzing individual securities and managing diverse portfolios.
Compare Online Finance MBA Program Averages to Campus Averages
When comparing online and campus-based Finance MBA programs, prospective b-students should consider many factors. Online programs offer lower average tuition costs ($43,958 vs : $43,958.48) and better average graduate ROI (146% vs 146%), while campus programs have slightly higher average graduate salaries ($81,754 vs $81,754). Both program types have comparable GMAT scores, full-time faculty numbers, and student-faculty ratios, indicating similar academic rigor and support.
Averages | Online Finance MBA Programs | Campus Finance MBA Programs |
---|---|---|
Average MBA Tuition | $39,044 | : $43,958.48 |
Average Graduate Salary | $79,700 | $81,754 |
Average Graduate ROI | 153% | 146% |
Average GMAT Scores | 559 | 565 |
Average Full-Time MBA Faculty | 69 | 67 |
Average MBA Student Faculty Ratio | : 17:1 | 16:1 |
Key Highlights for Finance MBA Programs
What is the Average Graduate MBA Salary for MBA Finance Programs?
The average graduate salary range for MBA in Finance graduates is quite wide. At the lower end, Elizabeth City State University MBA reports an average starting salary of just $35,850 for its MBA in Finance graduates. On the other hand, Stanford University boasts the highest average starting salary at an impressive $182,272.
The average starting pay across all finance MBA programs hovering around $81,754.
This substantial difference in starting salaries is due to a number of factors including reputation and ranking of the business school, the strength of its alumni network, the cost of living in the state and region, and the industries and locations where graduates find employment. Prospective b-students can research career outcomes and salary data of their target MBA programs to get a clearer picture the earning potential post-graduation.
While a high average starting salary is undoubtedly attractive, the savvy b-student will consider other factors like tuition costs, financial aid, and the overall return on investment when choosing an MBA in Finance program.
Average Graduate Salaries for Finance MBA Programs
- Average: $81,754 from 866 Finance MBA Programs
- Lowest: $35,850 from Elizabeth City State University MBA
- Highest: $182,272 from Stanford University
10 Highest Average Graduate Salaries for Finance MBAs
- Stanford University - $182,272.00
- Harvard University - $175,000.00
- Northwestern University - $175,000.00
- University of Illinois at Chicago - $167,977.00
- University of Pennsylvania - $166,391.00
- The University of Chicago - $165,887.00
- Columbia University - $162,099.00
- New York University - $161,475.00
- Dartmouth College - $159,842.00
- Massachusetts Institute of Technology - $159,391.00
10 Lowest Average Graduate Salaries for Finance MBAs
- Elizabeth City State University MBA - $35,850.00
- Grambling State University - $39,900.00
- Eastern Kentucky University - $42,450.00
- Francis Marion University - $42,600.00
- University of Maryland Eastern Shore - $42,900.00
- South Carolina State University - $43,200.00
- Western Carolina University - $44,100.00
- Arkansas Tech University - $44,250.00
- University of Arkansas at Fort Smith - $44,550.00
- Louisiana State University Shreveport - $45,300.00
Graduate Salary by State for Finance MBA Programs
- District of Columbia - $121,848
- New Hampshire - $113,255
- Massachusetts - $100,630
- Arizona - $97,127
- Wyoming - $93,010
- Illinois - $92,682
- Washington - $91,447
- California - $90,698
- Michigan - $89,920
- Pennsylvania - $89,328
- Utah - $89,172
- Nevada - $88,249
- Maine - $87,535
- Minnesota - $86,736
- Virginia - $86,642
- Tennessee - $84,991
- New Jersey - $84,703
- Texas - $83,926
- Colorado - $83,807
- Indiana - $83,648
- Iowa - $83,468
- Connecticut - $83,241
- New York - $81,215
- Maryland - $80,131
- Nebraska - $79,913
- Georgia - $79,652
- Alaska - $79,087
- Ohio - $77,307
- Wisconsin - $76,959
- Oregon - $76,503
- Rhode Island - $75,889
- Oklahoma - $75,600
- Hawaii - $74,209
- Florida - $73,349
- Idaho - $72,446
- North Carolina - $71,631
- Missouri - $71,608
- Montana - $69,487
- Alabama - $67,949
- South Carolina - $67,447
- New Mexico - $67,250
- West Virginia - $66,028
- Vermont - $66,000
- Kentucky - $65,025
- Kansas - $64,772
- Mississippi - $64,196
- Arkansas - $62,951
- Delaware - $62,333
- Louisiana - $55,392
- North Dakota - $50,600
- South Dakota - $50,102
What’s the Career Outlook for MBA in Finance Graduates?
Careers in financial management are expected to rise by 19 percent from 2016 to 2026, which is faster than the average for all other occupations. Allocation of this growth percentage will vary by industry.
As the economy continues to grow, so does the demand for financial managers skilled in analyzing investments and making planning decisions. Cash management and risk management skills are also expected to be in high demand. During the past several years, organizations have been accumulating more liquid cash on their balance sheets, especially those with foreign operations. Organizations will need cash management as globalization continues to spread. Therefore, the demand for financial managers with cash management expertise will increase.
Financial and investment managers with a master’s degree on average, can earn 20 percent more than bachelor degree holders without a master’s. They can earn almost 80 percent more than those without a degree, according to the U.S. Bureau of Labor Statistics. Those with an MBA in Finance are unlikely to find themselves unemployed.
MBA in Finance Salaries by Sector
Median wage is determined by calculating the wage at which half of the employees within an occupation earned higher than that amount, and the other half earned less. According to the Bureau of Labor and Statistics, in May 2016, the median annual wage for financial managers was $121,750. Within this category of workers, the bottom 10 percent earned less than $65,000, and the highest 10 percent earned more than $208,000.
In May 2020, the median annual wages for financial managers in the following top industries in which they worked were:
Sector | Avg. Salary |
---|---|
Professional, scientific, and technical services | $142,300 |
Management of companies and enterprises | $140,650 |
Manufacturing | $121,270 |
Finance and insurance | $117,870 |
Government | $109,230 |
Most Popular Sectors Where Finance MBAs Find Work
In 2020, approximately 601,400 jobs were held by financial managers. The categories of organizations employing the largest number of financial managers were:
Sector | Avg. Salary |
---|---|
Finance and insurance | 29% |
Professional, scientific, and technical services | 12% |
Management of companies and enterprises | 11% |
Government | 7% |
Manufacturing | 7% |
6 Popular Jobs for an MBA in Finance
Some tasks of financial managers are specific to their industry. Financial managers in government are experts concerning budgeting and government appropriations. Healthcare financial managers are experts on topics in healthcare finance. All financial managers must be aware of tax laws and regulations affecting their industry and related industries.
Here are Six Popular Jobs for Finance MBA Graduates:
- Controllers lead the preparation of necessary financial reports that tell the health of the organization, such as income statements, balance sheets, cash flow statements, and statements of retained earnings. Controllers are also responsible for the preparation of special reporting required by governmental agencies and regulations. Controllers often have the duty of overseeing the accounting, audit, and budget departments of their organization.
- Chief Financial Officers and Treasurers oversee and plan their organization’s budgets to meet its financial goals. They are responsible for oversight of funds investment and raising capital (such as issuing stocks or bonds) to support the firm’s growth. They also strategize plans for mergers (two companies joining together) and acquisitions (one company buying another) as part of the company’s growth.
- Credit managers oversee the accounts receivable credit parameters of customers. They set credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts.
- Cash managers are tasked with monitoring and regulating the cash flow in and out of the company to support business and investment needs. Cash flow must be projected to determine whether the company will have a cash shortfall or a surplus available for investing in strategic goals.
- Risk managers control financial risk by deploying various strategies to offset or limit the probability of a significant financial loss or the organization’s exposure to financial uncertainty. Currency or commodity price changes are the biggest financial risks a company can face.
- Insurance managers compute and decide how to limit a company’s losses by obtaining appropriate insurances against risks. For example, the insurance manager would need to compute if it is better to make disability payments for an employee who gets hurt on the job or pay the possible costs imposed by a lawsuit against the company.
What Licenses Are Required for Finance MBAs?
While a professional certification is not required as a prerequisite for most jobs, some financial managers will still pursue licensure to demonstrate a level of competence. The Chartered Financial Analyst (CFA) certification is available for investment professionals who have a minimum of a bachelor’s degree, plus 4 years of relevant work experience, and successfully pass three exams.
The Association for Financial Professionals provides the Certified Treasury Professional credential to those who pass their exam and have a minimum of 2 years of relevant experience. Certified public accountants (CPA’s) are licensed by their state’s board of accountancy. You must have a certain number of accounting credits and then take and pass the 4-part exam administered by the American Institute of Certified Public Accountants (AICPA).
What Qualities Make a Successful MBA Financier?
Skill | Description |
---|---|
Analytical skills | Executive level officers need assistance from key personnel on their teams to analyze their financial position and make many decisions every day that impact the organization. |
Communication skills | Financial managers often need to explain very complex financial transactions and statements to various constituents with varying degrees of financial acumen. Excellent communications are needed to assess the level of financial understanding of the recipient of the information and how best they understand numbers and data. For example, some want to see graphs, some need actual word problem examples, and some want comparative statements. |
Detail oriented | Error-free reporting is an absolute must for financial managers. High attention to detail is required for executives to trust the data they are given. |
Math skills | Depending on your role and the type of organization you work for, a higher level of math ability is necessary to understand financial documents and perform complex calculations such as time value of money, forecasting debt pay off, calculating return on investment and many other useful figures. |
Organizational skills | In addition to attention to detail, organizational skills are a highly coveted trait of the productive financial manager. They must prioritize tasks and projects while dealing with emergencies. |
What is the Average Tuition for Finance MBA Programs?
Investing in your future with a finance MBA can be a very smart decision. On average, you can expect to pay $43,958.48 for a finance MBA program. However, tuition rates can vary significantly, with the most expensive programs costing up to $219,688.00 and the most affordable options starting at $7,048.00.
When comparing in-state and out-of-state tuition for MBA programs in Finance, you’ll find that in-state students pay an average of $43,958, while out-of-state students face an average tuition of $53,963. With such a wide range of tuition costs, spanning from $7,048.00 to $219,688, it’s essential to carefully consider your options. Factors that impact tuition rates include your enrollment status, the program type, and whether you attend a private college or public institution. Choosing a highly respected program could provide better value for your money than opting for an out-of-state school.
The ROI of an online MBA program is often more favorable than traditional programs, as students can continue working while studying. According to a 2017 US News survey, the average salary for students three months after graduating from an online MBA program was $96,974, a 22% increase from the average entering salary. The highest average salary increases for online programs hover around 60%. With the right program choice and financial planning, an online finance MBA can be a worthwhile investment in your future, leading to increased earning potential and career advancement opportunities.
Average Tuition for Finance MBA Programs
- Average: $43,958 from 704 Finance MBA Programs
- Lowest Finance MBA: $7,048 from The University of Rhode Island
- Highest Finance: $219,688 from Cornell University
10 Most Affordable Finance MBAs
- The University of Rhode Island - $7,048.00
- California State University, Bakersfield - $7,176.00
- Indiana University Northwest - $7,458.00
- Indiana University Southeast - $7,458.00
- Indiana University South Bend - $7,458.00
- McNeese State University - $8,879.00
- University of Central Oklahoma - $9,068.00
- Columbus State University - $9,087.00
- University of the District of Columbia - $9,156.00
- Savannah State University - $9,180.00
10 Most Expensive Finance MBAs
- Cornell University - $219,688.00
- Columbia University - $180,258.00
- University of Pennsylvania - $179,852.00
- The University of Chicago - $167,393.00
- Stanford University - $165,591.00
- Dartmouth College - $165,442.00
- Massachusetts Institute of Technology - $164,000.00
- Northwestern University - $162,030.00
- New York University - $160,130.00
- Duke University - $157,546.00
Average Tuition Costs by State for MBA Programs
- New Hampshire - $103,312
- District of Columbia - $83,309
- Massachusetts - $74,395
- Oregon - $61,583
- New York - $61,321
- California - $59,093
- Pennsylvania - $54,581
- Connecticut - $51,233
- New Jersey - $51,100
- Maryland - $50,582
- Illinois - $48,710
- Washington - $48,319
- Ohio - $47,833
- Virginia - $45,876
- Michigan - $45,734
- Minnesota - $44,597
- Tennessee - $44,060
- Arizona - $40,003
- Colorado - $38,995
- Texas - $37,995
- North Carolina - $37,844
- Florida - $37,711
- Utah - $36,682
- Wisconsin - $33,557
- Louisiana - $33,470
- Indiana - $32,023
- Missouri - $31,909
- Vermont - $31,878
- Georgia - $31,430
- Rhode Island - $29,922
- Delaware - $27,790
- Oklahoma - $27,566
- Wyoming - $26,460
- Iowa - $25,779
- Kentucky - $25,407
- South Carolina - $25,244
- Montana - $24,913
- West Virginia - $21,722
- Alaska - $21,467
- Nebraska - $21,340
- Hawaii - $21,288
- Mississippi - $21,282
- North Dakota - $21,022
- Alabama - $21,005
- Nevada - $20,392
- Maine - $19,935
- Kansas - $19,893
- New Mexico - $18,520
- Arkansas - $17,073
- Idaho - $15,079
- South Dakota - $14,503
Difference Between an MBA in Finance and a Masters in Finance
The MBA is a broader degree and generally addresses the for-profit, corporate or entrepreneurial arena comprising of multiple aspects of business. A Master of Finance program focuses more specifically on the finances of the company. Your personal career goals should determine which type of program would most benefit you.
Obtaining an MBA degree is an important step to land above an entry level job in most companies. MBA coursework teaches a wide spectrum of topics with emphasis on how to manage within each segment of a company such as development, accounting, human resources, and operations. MBA programs prepare students for management positions in many industries.
The Masters of Finance is targeted to students seeking to focus on finance related fields or obtaining higher level financial stewardship within a larger organization. Programs review finance concepts in a more comprehensive manner, with courses in higher level mathematics, quantitative finance, investing, financial markets, financial analysis, statement generation and reporting, and stock valuation. Master of Finance programs tend to be shorter in duration, usually last one full-time year of study.
6 Core Classes Offered for an MBA in Finance
- Investments: This course teaches you concepts such as business valuation, equity analysis, stocks, bonds, derivatives and investment banking. This course also provides the foundation needed to successfully pass the Chartered Financial Analyst exam.
- Financial Accounting: In the financial accounting course, you will review several multifaceted topics and their effects on financial reporting. Topics in this course are more broad and high level. They include an overview of international accounting, the development of financial accounting standards, short and long-term investments in debt and equity securities, business acquisitions and mergers, valuation of land and other depreciable assets, foreign currency transactions, and accounting for not-for-profit organizations.
- Real Estate: Real estate specific courses prepare students to become asset managers. Real estate can be a significant portion of the asset portfolio of an organization. You will learn portfolio investments, valuation, financial modeling and equity analysis.
- Behavioral Finance or Urban Fiscal Policy: Behavioral finance is a very specialized course that will only benefit those working at a level where they must deal with government. This course discusses the financing of governments in the urban economy. Topics can include the causes and effect of the urban fiscal crisis, designing of optimal tax and spending rules for local governments, funding of public infrastructures and the mechanisms used in the municipal bond market, privatization of government services, and public financial systems for emerging economies.
- Corporate Finance: This path serves as a primer to business finance including corporate financial management and investments. Both finance non-majors and majors preparing for upper-level course work can benefit from this course. The primary focus is to provide the background, concepts, and apparatuses for investigating financial choices founded on fundamental principles of modern financial theory. The course can be highly rigorous and analytical as it is known as a “weed out” level course. The ability to do well in this course determines your success in subsequent, higher level finance courses. Areas covered include discounted cash flow methods; corporate capital budgeting and valuation; investment decisions under doubt; capital asset pricing; options; and market efficiency. You may also learn to analyze corporate financial plans, including capital structure, cost of capital, dividend policy, and related issues.
- Financial Derivatives: Financial derivatives are known as one of the more interesting topics of study of the financial manager. They can be the most challenging of securities traded, while at the same time, they can also be the basic securities commonly traded. The basic concepts of financial derivatives serve as the foundational blocks to understanding a much broader area of financial problems, such as multifaceted asset portfolios, calculated corporate decisions, and venture capital investing.
Online vs. Campus Finance MBA Programs
There is no longer a predominance of “traditional” graduate degree seekers. The current job market gives candidates with a graduate degree a step above most other candidates. Therefore, people in all levels of their careers from entry level (fresh out of school) to mid-career workers looking to change careers or move up in their companies can benefit from a graduate degree.
As the dependence on technology increases, information infrastructures are now able to support the demands and flexibility needs of the online student. Many graduate programs have realized that degree seekers have a higher chance of success if they have flexible opportunities to attend classes. Many degree programs now give you the option to take the program online, in person or a combination of the two. These situations have their pros and cons. If you are going to take online cases, you need to be diligent to stay on track and not procrastinate. Also, you will still have group work which may be more difficult to complete virtually without meeting in person.
Some personalities can be very different online than in-person which can be good or bad. Just another aspect to look out for. If you take classes in person, it is important not to miss or be late. You will have to add your length of commute and time to find parking for your overall time commitment. There is also significant out of classroom work. When deciding if you want to take online versus in person programs, another important consideration is the technology used for the online programs. There are generally discussion boards, quizzes, and assignment submission.
You will want to evaluate that it is a robust and stable system with little downtime. Currently there are approximately 3 million students enrolled in a full-time online degree program and approximately 6 million students taking at least one online course as part of the degree program.
What is the ROI for Finance MBA Programs?
The average ROI full-time for MBA programs in Finance is 146% with a highest of 567% and the lowest of 30%.
Return on investment (ROI) is an essential factor when considering which MBA program(s) to apply to. To calculate ROI, consider both the tuition for the MBA program and the average salary a graduate earns. The average tuition cost for an MBA degree in Finance is approximately $43,958.48, while the average starting salary for MBA graduates is around $81,753.82. To calculate ROI, you need to subtract the tuition from the salary and divide by the tuition cost. This will give you a rough estimate of how much value you will get out of the MBA Finance.
The average ROI for all MBA programs in the United States is 146%. The average ROI for Finance programs is 146%.
ROI for Finance MBA Programs
- Average: 146% from 866 Finance MBA Programs
- Lowest: 30% from Rochester Institute of Technology
- Highest: 567% from Tennessee State University
10 Finance MBA Programs with the Best ROI
- Tennessee State University - 566.59%
- California State University, Bakersfield - 547.66%
- The University of Rhode Island - 524.26%
- Indiana University Northwest - 502.82%
- Cal Poly Humboldt - 494.40%
- Texas A&M University-Texarkana - 458.20%
- Sonoma State University - 454.50%
- Indiana University Southeast - 433.43%
- California State University, Chico - 421.77%
- Savannah State University - 413.81%
10 Finance MBA Programs with the Lowest ROI
- Rochester Institute of Technology - 29.90%
- The University of Tampa - 30.70%
- Miami University - 34.00%
- Cornell University - 35.29%
- University of California, Riverside - 36.79%
- St. John's University - 37.63%
- Chapman University - 39.06%
- Ohio Northern University - 39.25%
- Claremont Graduate University - 41.85%
- Tulane University - 41.90%
Average ROI by State for MBA Programs
- Idaho - 270%
- New Mexico - 235%
- Indiana - 224%
- Maine - 220%
- Nevada - 216%
- North Dakota - 208%
- Rhode Island - 208%
- Nebraska - 207%
- Kansas - 203%
- Georgia - 201%
- Arkansas - 201%
- Montana - 196%
- Hawaii - 189%
- Alaska - 187%
- Mississippi - 185%
- Kentucky - 179%
- Oklahoma - 178%
- Wyoming - 176%
- Utah - 174%
- Alabama - 174%
- South Dakota - 173%
- Texas - 171%
- Tennessee - 170%
- Arizona - 170%
- Iowa - 168%
- Missouri - 159%
- California - 152%
- South Carolina - 152%
- Wisconsin - 148%
- North Carolina - 147%
- Illinois - 142%
- Minnesota - 140%
- West Virginia - 137%
- Florida - 135%
- Maryland - 132%
- Ohio - 131%
- Washington - 131%
- Louisiana - 127%
- Virginia - 126%
- Connecticut - 125%
- Colorado - 125%
- Delaware - 125%
- Michigan - 122%
- Pennsylvania - 104%
- Vermont - 104%
- Massachusetts - 102%
- New York - 97%
- New Jersey - 88%
- New Hampshire - 65%
- Oregon - 64%
- District of Columbia - 62%
What is the Average GMAT Needed for Finance MBA Programs?
The Graduate Management Admission Test (GMAT) is a standardized examination used by MBA schools to assess their applicant pool. The test is strategically designed to measure an applicant’s analytical, verbal, writing and mathematical skills. The GMAT is used as a predictor of success in MBA programs and tests one’s ability to successfully handle the advanced quantitative and qualitative study of business and management.
The average GMAT scores full-time MBA programs in Finance is 565 with a highest of 737 and the lowest of 265
More than 233 AACSB accredited MBA programs do not require their applicants to take GMAT exam. Many well-known programs such as the University of Michigan and the University of California, Los Angeles no longer require the exam. If you are unsure where you would like to take your program, then you should take the GMAT sooner rather than later so you don’t lose time meeting the score requirement of a program.
The average GMAT score needed for a Finance MBA program from an institution is between 265 from University of Wisconsin-River Falls to 737 from Stanford University. The average GMAT scores for Finance MBA programs is 565.
Average GMAT Score for Finance MBA Programs
- Average: 565 from 866 Finance MBA Programs
- Lowest: 265 from University of Wisconsin-River Falls
- Highest : 737 from Stanford University
10 Highest GMAT Scores for Finance MBA Programs
- Stanford University - 737
- New York University - 733
- University of Pennsylvania - 733
- University of Southern California - 732
- Columbia University - 732
- Harvard University - 730
- Northwestern University - 729
- University of California, Berkeley - 729
- The University of Chicago - 729
- Dartmouth College - 726
10 Lowest GMAT Scores for Finance MBA Programs
- University of Wisconsin-River Falls - 265
- Clark Atlanta University - 318
- Auburn University at Montgomery - 370
- Southeastern Louisiana University - 375
- Metropolitan State University of Denver - 390
- University of New Haven - 399
- National University College - 400
- Western Governors University - 400
- California Lutheran University - 400
- University of South Carolina Aiken - 405
Average GMAT Scores by State for MBA Programs
- New Hampshire - 643
- Vermont - 640
- District of Columbia - 639
- Massachusetts - 623
- Oregon - 608
- Indiana - 602
- Oklahoma - 597
- Maryland - 586
- Ohio - 582
- Mississippi - 581
- Idaho - 579
- New York - 579
- Minnesota - 577
- Pennsylvania - 571
- Illinois - 571
- New Mexico - 569
- Missouri - 566
- Montana - 565
- Iowa - 565
- Tennessee - 564
- Texas - 564
- Maine - 562
- Washington - 561
- Nevada - 557
- South Carolina - 556
- California - 555
- Connecticut - 555
- Virginia - 554
- Arkansas - 553
- Georgia - 551
- New Jersey - 551
- Michigan - 550
- Wisconsin - 550
- North Dakota - 550
- Arizona - 549
- Nebraska - 549
- Utah - 547
- Colorado - 544
- South Dakota - 544
- Kentucky - 541
- Kansas - 536
- Rhode Island - 536
- Delaware - 534
- North Carolina - 533
- Florida - 532
- Louisiana - 528
- Alaska - 524
- Hawaii - 520
- Alabama - 515
- West Virginia - 507
- Wyoming - 460
Student / Faculty Ratio for Finance MBA Programs
Faculty to student ratio is an important factor in the quality of education you will receive. The lower the ratio, the more individualized attention you will receive. The more individualized attention you receive, the greater the odds you will understand the material better.
Student / Faculty Ratio for Finance MBA programs offering a Finance concentration varies between 1:1 and 63:1 with an average of 16:1 students.
The ratios provided are based off all MBA programs regardless of concentration. To discover what the ratio is for the program you are interested in, research the faculty pages of the school and average size of the programs. Faculty could be part or full time. Many also work in the concentration and can provide the students with real-world examples.
10 Finance MBA Programs with the Lowest Student Faculty Ratio
- Middlebury Institute of International Studies at Monterey - 1:1
- Seattle Pacific University - 2:1
- University of Richmond - 3:1
- Massachusetts Institute of Technology - 3:1
- Naval Postgraduate School - 4:1
- Dartmouth College - 4:1
- Trinity University - 4:1
- Worcester Polytechnic Institute - 4:1
- Simmons University - 5:1
- Willamette University - 5:1
10 Finance MBA Programs with the Highest Student Faculty Ratio
- Louisiana State University Shreveport - 63:1
- San Diego State University - 47:1
- The University of Mississippi - 35:1
- The University of Texas of the Permian Basin - 35:1
- Arizona State University - 34:1
- Lamar University - 33:1
- University of Florida - 32:1
- The University of Arizona - 32:1
- San Jose State University - 31:1
- Florida State University - 31:1
Which Finance MBA Programs Have the Highest Student Enrollment?
When reviewing how the student population is spread across program formats, you will find the highest concentration of students are, then part time, then full time. The concentration is spread based on flexibility. The higher the flexibility (aka the least amount of scheduled class time), the higher the number of students.
The average Student Enrollment for full-time MBA programs in Finance is 292 with a highest of 3,933 and the lowest of 3
There are pros and cons to small cohorts versus large cohorts. Small cohorts can become very cohesive and encourage each other to make it through the program. However, if the personality dynamic is off, it is hard to find new group members in a smaller pool of students.
The large cohorts cultivate a variety of approaches to solve the same problem, help others to think outside of the box and foster creativity. However, you could feel like just a number and desire more individual attention. When researching schools, try to reach out to current students and ask about the culture to help you decide which type of culture best suits you.
10 Finance MBA Programs with the Highest Student Enrollment
- The University of Texas at Dallas - 3,933
- University of Southern California - 2,122
- The University of North Carolina at Chapel Hill - 2,031
- Duke University - 2,012
- Washington University in St. Louis - 1,996
- Boston University - 1,615
- University of North Texas - 1,595
- The University of Texas at Austin - 1,594
- Cornell University - 1,290
- Baruch College-The City University of New York - 1,283
10 Finance MBA Programs with the Lowest Student Enrollment
- The University of Akron - 3
- Ohio Northern University - 4
- University of Nebraska at Kearney - 4
- Berry College - 5
- Northwestern State University of Louisiana - 6
- University of Illinois at Springfield - 7
- Central Washington University - 7
- Oklahoma City University - 8
- Abilene Christian University - 10
- Morehead State University - 11
The Importance of MBA Accreditation
The importance of accreditation can’t be underestimated. For many, knowing your school is accredited by the AACSB and regionally accredited by the US Department of Education is enough assurance that you will receive a quality education, where credits are more likely to transfer, and you will be qualified for loans, grants, and scholarships.
AACSB accreditation is considered to be the gold standard in business school credentialing. Established to promote high-quality business education in the U.S., AACSB members developed a stringent accreditation process. Members are held accountable for following an established business education framework set forth by the AACSB. With that comes MBA degrees conferrals that are widely recognized by Fortune 500 companies. This results in lucrative job opportunities.
Difference Between an MBA in Finance and a Masters in Finance
The MBA is a broader degree and generally addresses the for-profit, corporate or entrepreneurial arena comprising of multiple aspects of business. A Master of Finance program focuses more specifically on the finances of the company. Your personal career goals should determine which type of program would most benefit you.
Obtaining an MBA degree is an important step to land above an entry level job in most companies. MBA coursework teaches a wide spectrum of topics with emphasis on how to manage within each segment of a company such as development, accounting, human resources, and operations. MBA programs prepare students for management positions in many industries.
The Masters of Finance is targeted to students seeking to focus on finance related fields or obtaining higher level financial stewardship within a larger organization. Programs review finance concepts in a more comprehensive manner, with courses in higher level mathematics, quantitative finance, investing, financial markets, financial analysis, statement generation and reporting, and stock valuation. Master of Finance programs tend to be shorter in duration, usually last one full-time year of study.
How We Rank Finance MBA Programs
The team at responsible for program rankings at MBAGuide.org comprises of data science and product management experts. Our ranking team works independently from the editorial team and is not influenced by editorial decisions.
MBAGuide.org employs a comprehensive ranking methodology that combines quantitative data (80% of the score) with qualitative assessments (20%) to evaluate MBA programs. The quantitative component considers factors such as student-faculty ratio, tuition, enrollment, and post-graduation salaries, while the qualitative aspect incorporates editorial ratings and school reputation, providing a well-rounded view of each program’s quality and value.
Business School Data Sources from
See all data sources including 756 College and University Programs