Finance Career Paths for MBA Graduates

The finance industry is a dynamic field that provides numerous opportunities for MBA graduates with a finance specialization. With the global economy constantly evolving, finance professionals are in high need, and the job market is foreseen to grow in the coming years. According to the US Bureau of Labour Statistics, the employment of financial managers is projected to grow by 17% from 2021- 2031, which is considerably greater than many other occupations.

That said, that’s not the only career path an MBA graduate with a finance specialization can choose. With so many finance career options available, it can be challenging for them to choose the right path, and location can also affect their available opportunities. While states like Los Angeles and New York in the United States may be major financial centers of the country, even states like Illinois have great opportunities for financial professionals. With a thriving economy and a highly educated workforce, Illinois is home to some of the largest financial institutions in the world, including the Chicago Mercantile Exchange and the Chicago Stock Exchange.

So, MBA students in this state can choose from various finance careers catering to diverse skill sets and interests, from investment banking to risk management. Thus, this article explores seven finance careers that MBA graduates can pursue.

Ways to Obtain a Degree

Obtain a Degree

If you’re looking to invest in your future, it’s best to look for MBA programs that suit your academic and professional interests, are affordable, and are manageable with a full-time job.

In that case, browse the various UIS online MBA programs by the University of Illinois Springfield. The online program offers the flexibility to study from anywhere and at your own pace. Even though you won’t study on campus, you’ll have access to experienced faculty members and industry professionals who will guide you through the coursework and help you develop the skills required to succeed in the business world.

With that said, here are some positions you can consider after completing your MBA with a finance specialization.

1. Financial Manager

Financial Manager

Financial Managers are professionals who take care of an organization’s financial health. They help companies reach their financial goals by creating and implementing effective financial strategies. Below are some of the primary responsibilities of a Financial Manager:

  • Making financial reports and analyzing financial data to spot trends, risks, and opportunities.
  • Developing financial strategies to increase profits and reduce costs.
  • Managing financial risks by creating risk management plans and ensuring compliance with regulations.
  • Overseeing the budgeting process and keeping an eye on financial performance.
  • Managing financial resources like cash flow, investments, and debt.

Financial Managers work in many different industries, such as banking and insurance. They need strong analytical skills and good leadership and communication skills.

2. Investment Banker

Investment bankers assist companies in raising funds and executing complicated financial transactions. They collaborate with clients to sell securities, offer guidance on mergers and acquisitions, and provide astute financial recommendations.

The responsibilities of an investment banker can encompass the following:

  • Examining finances and constructing models to assess potential deals.
  • Collaborating with clients to design financial strategies that align with their business objectives.
  • Creating presentations to convince investors to participate in transactions.
  • Cultivating relationships with clients and investors alike.

3. Wealth Management Consultant

Management Consultant

A Wealth Management Consultant is a financial expert who supports people in managing their money and making wise investment choices. They work with clients to set financial goals and create personalized plans.

Here are some of the things a Wealth Management Consultant can do for you:

  • Evaluate your financial situation and find ways to improve it.
  • Develop a customized investment strategy to help you reach your goals.
  • Offer advice on investment opportunities and manage your portfolio.
  • Keep track of your investments and make adjustments as necessary.

4. Financial Analyst

Financial analysts examine data to find insights that help people and organizations make better financial choices. They research economic trends, analyze financial statements, and make financial models to predict the future and identify potential risks.

As a financial analyst, you can operate in many different types of businesses. You might work at an investment bank, commercial bank, consulting firm, or any company that needs financial analysis. Some things you might do include:

  • Studying financial data and using it to make models that support business decisions.
  • Researching market and economic trends to help with investing.
  • Creating reports and presentations to share your findings with higher-ups.
  • Watching financial performance to see ways to improve or find risks.

5. Chief Financial Officer (CFO)

Chief Financial Officer

A Chief Financial Officer (CFO) is a crucial executive team member and plays a crucial role in managing a company’s finances and planning for the future. The CFO oversees everything related to money, such as accounting, budgeting, forecasting, and financial reporting.

Some specific things that CFOs do include:

  • Creating financial strategies to help the company achieve its goals.
  • Reviewing financial statements and reports.
  • Managing a company’s budget and cash flow.
  • Building relationships with investors, lenders, and other stakeholders.
  • Making sure their company follows financial rules and regulations.
  • Providing financial analysis to support business decisions.
  • Managing their company’s risks and insurance programs.

6. Financial Advisor

Financial advisors assist individuals and businesses with financial management, like creating investment plans and handling debt. They give tailored guidance based on each person’s financial situation and objectives.

Some primary duties of a financial advisor are:

  • Evaluating clients’ financial needs and goals.
  • Creating customized financial strategies.
  • Offering investment advice.
  • Managing risks.
  • Tracking clients’ economic progress.
  • Adjusting financial plans as needed.

7. Credit Manager

Financial advice

A credit manager is responsible for overseeing a company’s credit department, ensuring that customers pay their bills on time, and managing the overall credit risk of the company. They evaluate credit reports, establish credit limits, and monitor customer accounts for late or missed payments. They also work closely with other departments, such as sales and finance, to ensure credit policies align with overall business objectives.

Here are some key responsibilities of a credit manager:

  • Assessing and managing credit risk.
  • Enforcing credit policies.
  • Setting credit limits.
  • Evaluating credit reports and financial statements.
  • Monitoring customer accounts and working with other departments.
  • Managing and training their team.


An MBA in finance is valuable for anyone looking to improve their career options. Whether you choose to pursue an online or a traditional on-campus program, the skills and knowledge you gain will help you succeed in the competitive business world.