Many graduate students prefer to earn an MBA. However, a Master of Science in finance is a great alternative for those who are not sure about business administration. Finance is a broad topic. Several concentrations are available to students in online programs that focus their knowledge and skills into specific areas. Popular concentrations are:
- corporate finance
- investment
- risk management
- real estate
But others are also available. Following are the five most prominent concentrations for a Master’s degree in finance.
Corporate Finance
Corporate finance is a popular concentration for graduate students seeking Master’s degrees in finance. This concentration is for students who wish to develop the skills necessary for careers in large corporations or as independent corporate analysts. Many people who later become chief financial officers (CFOs) for medium-to-large corporations begin by earning a finance degree in this concentration. Corporate finance coursework provides the knowledge and skills required for:
- managing assets and liabilities
- capital investments
- short-term and long-term financial planning
These are from the perspective of upper managers and executive management.
Investment Management
In societies that practice capitalism, the economy is driven through individual, commercial and public investments. A degree in finance with a concentration in investment management is an effective means of developing a career. Skilled investment managers are highly sought out by:
- banks
- insurance agencies
- securities firms
- businesses that focus on:
- retirement plans
- private equity
- trusts
- mutual funds
The coursework in this concentration covers:
- financial markets
- macroeconomics
- portfolio management
All of which are designed to help the investment manager make the most profitable decisions for his or her investors.
Financial Analysis and Risk Management
The Master of Science in finance degree with a concentration in financial analysis and risk management is known by several other names. Some schools simply combine the two terms and call it financial risk management. Some call it investment management. Whichever name is actually used, students in this concentration will be prepared for careers in:
- financial management
- corporate finance
- corporate restructuring
- or investment banking
Students will learn how to excel in the world of global risk management by building on broad coursework that includes:
- accounting
- economic
- banking
- investment
Real Estate
A large segment of real estate professionals planned their careers from the start by earning a Master of Science in finance with a concentration in real estate. The real-estate industry is about much more than the buying and selling of property. It affects nearly every economic sector, including industries that seem far removed. The curriculum for the concentration in real estate was developed to prepare students to become leaders of industry, whether or not it is directly related to real estate. Students are taught to:
- analyze markets
- predict how they will move
- appraise investments
- manage assets
In addition, specific coursework shows how technology has affected realtors and how it can be used to an advantage.
Accounting
While accounting has degree programs all its own, it is also possible to earn an M.S. degree in finance with a concentration in accounting. The accounting concentration in finance is closely related to financial management. Many universities combine these concentrations into one. It is designed to impart the knowledge and skills necessary to become a successful financial practitioner. Coursework covers several skillsets, including:
- financial analysis
- bookkeeping
- managerial accounting
- business operations
- financial auditing
- tax law
Graduates in this concentration often go on to earn credentials as certified public accountants (CPAs). Others prefer to go into corporate management.
While it is possible to earn a general Master’s degree in finance, most students will find it beneficial to follow a concentration in:
- corporate finance
- investment management
- financial analysis
- real estate
- accounting
This lets prospective employers know that a graduate possesses specialized knowledge and skills that will help them perform their jobs successfully.
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