9 Jobs You Can Get With an MSF Degree

When you hear of a master’s degree, the first thing that comes to most people’s minds is “MBA.” The reason is that it is a general degree with a variety of job opportunities ahead of it. But what people often fail to realize is that even a degree like Master of Finance or an MSF degree can open up an array of jobs in different industries.

Why get a job in finance?

According to the Bureau of Labor Statistics (BLS), employment in the financial field is expected to grow 15% by 2029, which translates to over 700,000 added jobs in the marketplace. By getting a specialized degree such as master of science in finance (MSF) degree, you can seek lucrative positions such as financial management, with an average salary of approximately $131,710.

What does a career in finance entail?

If you pursue a career in finance, you can work in any industry throughout the world. It could be short- or long-term financial instruments, budget, monitoring the stock market, making investment plans, mergers and acquisitions, etc. In a finance job, you cannot exactly get away from crunching numbers, but the range of jobs is wider than you might have thought.

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What is an MSF degree and what are its benefits?

An MSF degree provides learners with a strong technical foundation in finance, which helps them launch a career in finance. For example, the Master of Science in Finance (MSF) program from the Richard DeVos Graduate School of Management cover a comprehensive range of quantitative finance skills. The curriculum of this program includes modules on topics such as financial reporting, business and economic policy, corporate financial decision making, strategic management, etc., giving you a holistic understanding of the field of finance that can be used in any industry.

Additionally, the MSF degree qualifies you to be eligible to participate in the US OPT – Optional Practical Training program for F-1 students upon the completion of your MSF degree, allowing you to stay in the US while you start your career in finance.

This degree helps you launch your career in the field of finance, especially in the US,  even if you don’t have a bachelor’s degree specific to the field. It is centered on gaining in-depth and applicable financial knowledge and also honing your analytical skills, which will set you apart in this competitive world.

Jobs you can get with an MSF degree

MSF is a specialized degree, so there are certain jobs that you can apply for. Given below are 9 such jobs, along with their descriptions and average salaries.

1. Financial analyst: A financial analyst is someone who analyzes past financial records and markets to help in making investment strategies for their company or clients.
   • • Financial analyst average salary: $73,424 per year.
     • Financial analyst roles: The role of a financial analyst includes evaluating financial data, examining current events and market developments, examining financial statements, and creating financial models.
     • Financial analyst skills: Some of the must-have skills for a financial analyst are research, analysis, time management, critical thinking, and interpersonal communication.
2. Financial manager: A financial manager broadly oversees an organization’s financial activity and ensures its financial sustainability.
   • • Financial manager average salary: $103,079 per year.
     • Financial manager roles: The role of a financial manager involves keeping a check on the company’s economic condition, monitoring cash flow and finding new cash sources, researching factors affecting business performance, and designing financial tools to minimize financial risks.
     • Financial manager skills: The main skills required are accounting and budgeting skills, analytical skills, decision-making skills, and communication skills.
3. Financial advisor: Financial advisors help their clients reach their financial goals by creating financial plans for them. This is done based on the client’s net worth, capital, assets, etc.
   • • Financial advisor average salary: $83,445 per year.
     • Financial advisor roles: The role of a financial advisor is advisory in nature. They assess your financial status, understand your financial goals and suggest investment choices.
     • Financial advisor skills: Client relationship skills and business development skills such as research, wealth management, analytical thinking, and risk assessment are some of the important skills a financial advisor should have.
4. Financial risk manager (FRM): FRM is a job where a person specializes in risk assessments. This job normally involves working with large companies, banks, or regulatory bodies.
   • • FRM average salary: $93,136 per year.
     • FRM roles: An FRM identifies threats to assets, earning capacity, or the success of an organization.
     • FRM skills: The main skills of an FRM are financial acumen, analytical skills, strategic thinking, communication, and presentation skills.
5. Financial planning and analysis (FP&A) manager: In this job, a person works closely with senior management to increase the efficiency and profitability of a company. They assist in the formulation of short- and long-term financial plans.
   • • Financial planning and analysis manager average salary: $116,857 per year.
     • Financial planning and analysis manager role: The role of the FP&A manager is to manage the budget, forecasting, and long-term planning process.
     • Financial planning and analysis manager skills: Skills required for an FP&A manager include analytical skills, quantitative skills, advanced computer software skills, and communication skills.
6. Cost analyst: Cost analysts are responsible for analyzing a company’s expenses and finding discrepancies to ensure cost reduction.
   • • Cost analyst average salary: $70,884 per year.
     • Cost analyst role: The main role of a cost analyst is collecting and analyzing financial data, comparing costs with actual expenses, and monitoring budgets for possible budget cuts.
     • Cost analyst skills: Major skills of a cost analyst include data, operational and financial analysis.
7. Accountant and auditor: A person in this role prepares and maintains financial books and verifies the accuracy of the financial statements.
   • • Accountant and auditor’s average salary: $60,127 per year.
     • Accountant and auditor role: The role of the account is to ensure proper maintenance of financial records, identify potential opportunities and risks, and provide solutions for businesses and individuals.
     • Accountant and auditor skills: A person in these positions should possess analytical skills, communication skills, organizational skills along with quantitative skills.
8. Investment banker: Investment bankers act as financial advisors to large corporations or government bodies.
   • • Investment banker average salary: $82,970 per year.
     • Investment banker roles: The main role of an investment banker is to support institutional clients in activities like capital raising and mergers and acquisitions.
     • Investment banker skills: The main skills of an investment banker are research skills, quantitative and analytical skills, problem-solving skills, decision-making skills, and communication skills.
9. CFO: CFO or chief financial officer is an executive-level position that oversees an organization’s financial activities.
   • • CFO average salary: $141,918 per year.
     • CFO roles: A CFO’s role is to oversee the financial and accounting activities in an organization and advice the C-suite peers on financial decisions.
     • CFO skills: The skills that are indispensable for a CFO are leadership skills, decision-making skills, risk assessment and management skills, and strategic skills.

This shows that an MSF degree is not restricting; rather, it gives important tools to open pathways to every industry in the world.

FAQs

• Can you get a job in finance without a degree?‎
  There are rare cases of people getting a job without a degree in finance, but a degree offers knowledge that allows you to rapidly climb the ladder in the finance field.

• How long does it take to get a finance degree?‎
  After a bachelor’s degree, you can choose to get an MSF degree, which is either one or two years long.

• Is a finance degree hard? ‎
  A degree in finance is definitely considered more rigorous and technical than most other degrees offered.

• Can you get a finance job with an accounting degree?
  Yes, it is possible to get a job in finance with an accounting degree.

• What is the difference between finance vs accounting degrees?
  An accounting degree is more focused on keeping everyday financial reports and records, while a finance degree focuses on the overall financial activities of an organization, such as the company’s growth.