If you are planning the steps you need to take to pursue a career in finance, you will quickly discover that several different paths can lead you to the same destination. If you are seeking a career in business and finance, you will need to decide whether you want to pursue a Finance Online MBA or a Masters in Finance Online. While the two may sound very alike, there are certainly differences you should consider before you dedicate a large portion of your life working for a degree. Studies show that more than 100,000 people a year graduate with an MBA Finance degree. While this is definitely an accomplishment, you should consider your future career goals and reasons you should select one degree over the other before you write your plan in permanent ink.

 How Can Two Paths Lead You to the Same Destination?

Before you start to dissect how a Finance MBA and a Master’s in Finance differ, you should understand that each track could lead you to the same future career. The difference between each program is what you experience along the way. A traditional MBA Online  course will expose you to a wide range of different disciplines in management. This path gives you the tools you need to think how a manager would think in the finance sector. A Master’s of finance will focus on a different discipline by teaching you very rigorous finance and economics disciplines. The key to choosing which degree is best is considering your learning style and your interests. If you love the political sciences aspects of finance, you may want to pursue a masters of finance. If you are more geared to development a management way of thinking, then a Executive MBA may be for you.

 Consider the Type of Career You Are Pursuing

Some individuals know exactly what they want to be when they pursue a degree in finance. Others know they love to deal with money and economics. Another factor you will need to consider when you are deciding which degree is best for you is what you plans to use your degree for. If you want to be a professional economist, you will undoubtedly need to pursue a Master’s in Finance and Economics. With this being said, the Master’s in Finance will actually role over to cover you in practically any finance or investment management position you desire. Either way make sure your Masters Degree Program is accredited – therefore, you’ll want a Accredited Masters in Finance and a Accredited Online MBA.   A Finance MBA is a bit different. It will get you management and business positions, however, it does not carry the course load necessary to qualify you for an economist or risk assessment position. This is a factor you should strongly consider if you know what career you are pursuing.

 What Are Your Goals and Your Objectives in Life?

Many people overlook this basic factor. More than 30 percent of college students today are adults in the workforce. With more and more people pursuing a higher learning degree later on in life, considering your objectives and the time frame you want to achieve your goals is very important. Choosing a degree can certainly be a matter of timing. Depending on where you are at in life, you may have ambitions with shorter or longer-term objectives. You will need to assess the big picture to consider which degree is more relevant for your life. Studies show than younger students generally enroll in Masters in Finance programs and return to get their finance MBA to progress through their career. While this is a generalization, you will need to consider which degree will benefit you both short-term and long-term and typically speaking the higher ranked the program the increased possibilities of a better career, consider one of the best online mba.

The Time and Cost Factor

You should also understand the difference in time and cost between each degree. A Masters in Finance takes about 1 year to complete. In comparison, the finance MBA takes approximately 2 years to complete. These time frames will differ depending on whether you attend school full-time or part-time. The reason some online MBA programs take longer is because there is a focus on both finance and leadership. While it will cost more to earn an MBA, it will increase your lifetime earning potential in the finance sector.

The Final Conclusion- Which is Better?

So you may be wondering, what degree is better, the Masters of Finance or the Online MBA in Finance? Honestly, there is no one right answer to this question. The answer depends on where you stand in life, what career you are pursuing, how long you want to be in school, and how much money you want to invest in school. While most professors recommend getting both, you will need to decide which degree to get first before you can think about the next program.

 

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