MBA Accounting Careers
Acquiring a Master's in Business Administration (MBA) can be a key factor if you want to obtain a top management position in most companies. In a world that is moving towards a more corporate and service-oriented economy, having an MBA not only ensures employability but also increases success and marketability in the global job market.
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Career Opportunities
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Jobs for accounting with an MBA include financial managers and financial analysts. Along with responsibilities such as leading the finance and accounting department and developing investment and cash management strategies, job functions for these finance experts often involve working with the executive management team to create and implement strategies for the organization's long-term goals. Financial managers hold titles such as controllers, treasurers, credit managers and cash managers, each with different but related duties. Financial analysts guide individuals and businesses when making investment decisions. They assess the performance of investment vehicles such as stocks, bonds, commodities, funds and real estate.
Training
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To garner a financial manager position, you will need at least a bachelor's degree with a major in business concentration such as accounting, finance or economics. Most companies, however, look to fill such positions with incumbents who have obtained a master's degree. Some fields, most notably banks, prefer experience over formal education. Bank branch managers are often promoted from senior loan officers. Since financial managers must work as part of a team, good interpersonal skills are also mandatory.
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Earnings
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Review of U.S. Bureau of Labor Statics (BLS) show that financial managers earned a median annual income of $99,330, with most earning $72,030 to $135,070 as of May 2008. Variation in wages can depend on the employer's size, industry or location, with larger organizations generally paying better than smaller ones. The BLS further states that the top paying industries are securities and commodity contracts, and intermediation and brokerage firms. The lowest paying sector is the local government. The highest paying states for financial managers are New York and Delaware. where financial analysts earn a median annual salary of $73,150.
Outlook
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Financial manager employment growth will grow by eight percent between 2008 and 2018, according to U.S. Bureau of Labor Statistics. If you have an MBA degree, you will enjoy an advantage over competing candidates. The BLS reports that employment growth for financial analysts is greater, at an increase of 20 percent between 2008 and 2018. This growth is attributed to the increasing complexity and global diversification of investments. The number of job seekers in this field, however, still outstrips demand, and persons looking to be financial analysts would do well to acquire an MBA and a CFA certification.
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References
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