Best jobs for masters in finance
Enrolling in a Master of Finance can have a huge impact on your career. Half of global employers said they plan to hire MiF graduates in 2021, according to the latest Graduate Management Admission Council Survey of corporate recruiters.
Master of Finance jobs available to graduates range from some of the highest paying finance jobs to roles in a variety of industries, including popular sectors like consulting and technology.
So what are the best jobs for masters in finance and what companies will you hire after you graduate?
1. Investment banker
In investment banking, you are responsible for buying and selling different financial assets. If you can imagine yourself working at one of the best investment banks on Wall Street, then a Masters in Finance is a good place to start.
Investment banks regularly hire a large part of the MiF classes. At Tsinghua University’s School of Economics and Management, for example, 29% of MiF students work in investment banking. Since the average salaries of investment bankers in New York are $ 117,000, this is hardly surprising.
Investment banks like Goldman Sachs and JP Morgan consistently rank among the top employers of Masters in Finance graduates. In MIT Sloan’s most recent Masters of Finance cohort, 10 graduates got jobs at Goldman Sachs, while seven went to work at Bank of America.
Ferdinand Petra, of the Master of Finance at HEC Paris, believes that an MiF prepares candidates well for a career in investment banking. Not only do they get the in-depth expertise required by finance, but the program also gives a good feel for the work culture.
“It’s very multicultural, and that’s what you’ll get in investment banking. There is a lot to learn by practicing and making cases in multicultural teams, ”says Ferdinand.
Consulting is a popular career choice for all business school graduates and it is no different for finance graduates because consulting is one of the best Master in Finance jobs. At Imperial College Business School, 20% of the most recent MiF class joined consulting firms.
These include companies like the Big Three at McKinsey, Bain, and the Boston Consulting Group, who want MiFs from top programs. Masters graduates can expect starting salaries in the board of around $ 90,000, rising to $ 125,000 after signing and performance bonuses.
Keith Bevans, Global Recruitment Manager at Bain, explains why the Big Three consulting firms are drawn to MiF graduates.
“MiF students add this financial prism: they tend to have built financial models, they can read financial statements and they know the role that financial organizations can play in a business from a strategic point of view. This means that they have more subject matter expertise than other master’s students.
3. Central banker
Many MiF graduates are drawn to public finance roles, including working in global financial institutions or with national government banks.
At London Business School, positions in central banks or public finance are some of the best jobs for a Masters in Finance, with 22% of graduates working in these industries. Employers include the Ministries of Finance of Japan and Singapore, the European Bank for Reconstruction and Development, and the International Finance Corporation (part of the World Bank).
While these jobs are not as well paid as private financial services, they are a great opportunity for global exposure at the diplomatic level. Christian Dummett, Director of Career Services at LBS, believes that a diverse MiF cohort prepares you well for this.
“You will have a broader perspective on the world, because you will have had this huge exposure to various working groups. It’s really important that when you start your job you don’t just think as a 28-year-old finance man, you think as a global businessman, ”says Christian.
Read: 25 Best Masters in Finance Programs | Class
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4. Asset manager
While investment banking is on the “sell” side, asset management is on the “buy” side. Asset managers should seek out financial assets in which to invest money on behalf of their clients’ portfolios.
Asset Management is one of the main providers of Master in Finance jobs; At MIT Sloan School of Management, 9% of the most recent MiF cohort held positions in the industry. This includes jobs at companies such as leading investment management firms BlackRock and the Vanguard Group.
Finding and investing in profitable assets requires curiosity and creative thinking which you will learn during a Masters in Finance. “For asset management, you need to be thoughtful, rigorous and tenacious in asking questions that others do not ask,” explains Christian from LBS.
“It helps you discover opportunities that others don’t see. “
5. Seller and trader
High Risk, High Reward – Sales and Commerce offer popular finance masters jobs for ambitious graduates. Organizations like JP Morgan and Goldman Sachs have sales and commerce branches that regularly recruit MiF graduates.
At MIT Sloan, 13% of MiF graduates go into sales and trading; at Imperial, this figure is around 7%. The average starting salaries for Imperial MiF graduates entering sales and commerce are just over $ 67,000.
There is no doubt that sales and trading are one of the most difficult, pressured, and time consuming areas of finance. To engage in this industry, graduates need to know what they are getting into.
The Master in Finance from ESSEC Business School offers a specialized course dedicated to financial markets, sales and trading; giving students not only the required specialist knowledge, but also a chance to gain work experience in the sector.
Sridhar Arcot, from MiF at ESSEC, explains that companies look for this kind of knowledge and experience when hiring because it means that recruits know what they are getting into, as well as what expects from them. “They want employees who can get started. “
Master in Finance jobs are many and varied, whether you are looking for global exposure, high salaries, or even a role in the public sector, there is something for you.
This article was updated on September 21, 2021.
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