What Can You Do with a Master’s Degree in Finance? Exploring High-Impact Careers in Finance and Beyond

Why Pursue a Master’s in Finance?

The Master of Science in Finance is a rigorous and results-driven graduate degree program, promising deep financial knowledge and immersive practical experiences. Offering flexible formats and a tailored curriculum, this program equips students with the skills, resources, and support needed to advance in the diverse and high-impact field of finance.
 

How a Master’s in Finance Differentiates You

A Master of Finance stands out on a resume, providing instant verification of elite analytical skills and strategic decision-making, along with a comprehensive understanding of financial systems and principles. Employers recognize the dedicated and targeted financial expertise that this degree conveys. As opposed to more general business degrees like the Master of Business Administration (MBA), employers view this standout degree as a sign of a genuine desire to shape the complex finance landscape, plus the tangible skills to back it up.

While the credential alone should not serve as the exclusive objective for completing this degree program, it certainly matters; in a competitive job market, a respected degree can make a world of difference, especially if accompanied by the right competencies.
 

Who Should Consider a Master’s in Finance?

The Master of Science in Finance offers numerous advantages, but this opportunity is most relevant to passionate individuals with a strong drive for analytical problem-solving and, ideally, a genuine interest in the nuances of today’s financial markets. Recent graduates can use this program to propel career growth, with other professionals leveraging the Master of Finance to facilitate desired career transitions.
 

8 Types of Careers in Finance

As a diverse field, finance offers opportunities to pursue personal and professional fulfillment. Top career paths span many sectors and specializations, encompassing everything from banking to financial technology to public policy.

In addition to technical and analytical roles, this industry offers compelling upper-level management opportunities that allow more experienced finance leaders to help guide and support fellow professionals. We’ve highlighted a few key categories, including in-demand roles involving various niches or levels of employment.
 

1. Retail and Investment Banking Careers

Finance graduates are often drawn to investment banking due to its prestige and reputation as a lucrative career path. High salaries and performance-based bonuses help investment bankers boost the return on investment (ROI) of their master’s degrees, but many also enjoy the fast pace and high energy associated with this uniquely dynamic environment.
 

Personal Banker (entry-level)

Personal bankers process transactions, open accounts, sell banking products, provide basic financial advice, and assist customers with banking products/services. This is an entry-level, customer-focused role requiring strong interpersonal, communication, and sales skills. It also usually requires training provided by banks.
 

Investment Banking Analyst or Intern (entry-level)

An investment banking analyst (or intern) assists in preparing pitch books, financial modeling, valuation analyses, due diligence, and client presentations. While often an entry-level or internship role, it requires a strong academic background, quantitative and analytical skills, proficiency in Excel, and good interpersonal communication.

With some years of experience under your belt, it may be possible to eventually become an investment banker. Advising organizations on how to raise capital and complete transactions, investment bankers develop strategic funding plans and negotiate deals to boost funding. Working with young companies, they may facilitate initial public offerings (IPOs), although their expertise may be required when negotiating mergers or preparing bond offerings as well.
 

Mergers and Acquisitions (M&A) Analyst (mid-level)

Providing critical support throughout the complex merger and acquisition process, M&A analysts draw on numerous valuation techniques to determine company value. They are heavily involved in due diligence, too, performing meticulous research to reveal the potential financial or legal complications tied to proposed mergers and acquisitions.
 

2. Corporate Finance Careers

Corporate finance shares much in common with investment banking, including lucrative opportunities and a fast-paced work environment. While investment banking focuses on external clients and raising capital, corporate finance maintains an internal focus. A core goal? To maximize shareholder value via strategic investment and capital structure decisions.
 

Operations Analyst/Assistant (entry-level)

Operations analysts or assistants help with reviewing operational processes, reporting, documenting procedures, supporting operational improvements, and performing administrative tasks. This entry-level role requires basic analytical and organizational skills, attention to detail, and proficiency with standard office software.
 

Financial Analyst (entry-level)

Entry-level finance professionals often work as financial analysts, examining financial statements and other sources to identify key business trends and, specifically, how these patterns relate to various investment strategies. These professionals use data-driven insights to make forecasts, develop recommendations, and convey this information to executives or stakeholders.
 

Corporate Finance Manager (senior-level)

Following a few years of success as a financial analyst, ambitious corporate professionals can move into management positions, such as the respected role of corporate finance manager. This involves a more strategic approach, ensuring that financial decisions align with broader organizational objectives. These managers provide oversight for the many analysts and other professionals involved in budgeting and financial reporting—but corporate finance managers may also act as advisors for executives.
 

3. Private Equity and Venture Capital Careers

Private equity (PE) and venture capital (VC) bring distinct approaches to the investment landscape, allowing businesses to secure the funding they need to pursue ambitious objectives. PE firms generally focus on established companies dealing with restructuring or other challenges, while VC start-ups or other early-stage companies navigate the early stages of development.
 

Private Equity Analyst (entry-level)

Analysts help PE firms identify and evaluate potential investments involving mature companies. They develop detailed financial models, using a wide range of metrics to help project the potential ROI associated with various investment opportunities. Through due diligence, they highlight the market positioning or the overall financial health of established companies. Following key investments, PE analysts also assist with ongoing monitoring to showcase long-term portfolio company performance.
 

Venture Capital Analyst (entry-level)

VC analysts identify exciting new opportunities for investment, relying on their robust networks to pinpoint emerging and potentially lucrative trends. Like PE analysts, they are involved in due diligence—but with a clear focus on start-ups. Their role in financial analysis emphasizes growth metrics, offering insights into customer acquisition cost while revealing the potential for rapid innovation or expansion.
 

4. Investment Management Careers

Not to be confused with investment banking, investment management shifts the focus away from high-intensity deal-making (especially involving M&A or raising capital) toward wealth growth and stewardship on a long-term basis. This involves strategically managing investments and portfolios to facilitate sustained growth. While clients could comprise individuals or institutions, the overarching goal is to align investment strategies with client-specific financial objectives.
 

Hedge Fund Analyst (entry-level)

The title “hedge fund analyst” can be confusing, as this could potentially describe a wide range of roles and responsibilities related to investment management. Typically, however, hedge fund analysts are entry-level professionals responsible for analyzing investment opportunities and collecting data to support various financial models. After acquiring a few years of experience in this role, analysts may move into mid-level positions such as the previously described portfolio manager.
 

Wealth Management Advisor (mid-level)

Not to be confused with the role of financial advisor, wealth management advising emphasizes in-depth analysis, typically applied to specialized financial opportunities involving high-net-worth individuals. This may encompass not only financial planning and investment strategies but also tax services, estate planning, and a holistic approach that addresses clients’ range of needs or concerns.
 

Portfolio Analyst (mid-level) or Manager (senior-level)

A portfolio analyst evaluates investment portfolios, analyzes performance, prepares reports, and assists in investment recommendations and risk management. This role requires strong quantitative analysis skills, proficiency with financial tools (like Bloomberg and Excel), and an understanding of investment principles.

Eventually, portfolio analysts who excel in their roles may proceed to be promoted to portfolio managers. Tasked with making strategic financial decisions, they may handle individual investors’ assets or focus on mutual funds. These professionals aim to satisfy two important goals: maximize returns and minimize losses. This calls for in-depth financial research, with portfolio managers rebalancing regularly to mitigate volatility. Their decisions have a major impact on funds’ returns, so a strong background in financial management is crucial.
 

5. Risk Management and Compliance Careers

Financial institutions must navigate a complex array of regulatory requirements, security challenges, and other sources of risk, which can be challenging to strike the ideal balance between risks and rewards. Risk-focused professionals such as compliance officers and credit analysts help to guide decision-making processes, offering data-driven insights into the various manifestations of financial risk. Their expertise drives informed decision-making and helps organizations avoid or mitigate risks without compromising returns.
 

Credit Analyst (entry-level)

Establishing the creditworthiness of loan-seeking individuals or businesses, credit analysts evaluate documentation such as income statements or cash flow statements to reveal the risk of default. Based on established risks, analysts can make informed recommendations regarding whether credit should be granted and whether additional terms should be applied to limit risk.
 

Risk Manager (mid-level)

Financial risk managers or specialists draw from a wealth of data to help organizations understand uncertainties or potential financial losses known as risks. Typically assessing risks as they relate to banks or other financial institutions, these professionals analyze market trends and regulatory environments, determining which strategies are most likely to protect assets or boost compliance.
 

Compliance Officer (mid-level)

Similar to risk management but maintaining a narrower focus on regulatory concerns, compliance officers are well-versed in complex requirements established by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). These officers conduct in-depth audits to pinpoint compliance issues, all while ensuring that essentials such as anti-money laundering (AML) and Know Your Customer (KYC) are consistently implemented.
 

6. Financial Technology (FinTech) Careers

Financial technology draws on cutting-edge developments to empower consumers through tech-driven financial services or solutions. This concept has expanded over time to encompass a vast range of applications and software solutions that help users track spending, buy stock, or even navigate the crypto market.
 

FinTech Analyst (entry-level)

Possessing a distinct blend of technological and financial expertise, FinTech analysts collect and evaluate financial information, monitoring industry trends and competitor insights to guide financial decision-making. Their findings could optimize tech-driven financial services while helping FinTech companies maintain an edge in a quickly evolving market.
 

Cryptocurrency Analyst (entry-level)

Crypto represents the next big frontier in financial technology, and crypto analysts can play an exciting role in shaping this new world of digital finance. Evaluating crypto trends and developments, these analysts rely on a deep understanding of blockchain technologies to help businesses or investors decide when to buy or sell digital assets—and how to leverage other emerging technologies or navigate evolving compliance concerns.
 

7. Public Finance and Economic Policy Careers

While finance graduates often feel drawn to the fast pace and excitement of the corporate world, there are many other ways to unleash financial expertise while finding professional fulfillment. Public sector opportunities, for example, encourage financial professionals to use their specialized financial knowledge to drive change while influencing entire communities and even the economy at large.
 

Accountant/Assistant Accountant (entry- to mid-level)

As an assistant to an accountant, these professionals support general accounting functions with tasks like preparing journal entries and assisting with month-end close procedures, account reconciliations, and documentation. This position is typically entry-level requiring foundational knowledge in accounting, proficiency in accounting software, detail-oriented mindset, and a relevant degree.

Accountants manage general ledger entries and month-end/year-end closing activities as well as prepare financial statements and ensure compliance with accounting standards. This role calls for:

• Several years of accounting experience
• Proficiency in accounting software
• Thorough understanding of GAAP
• Strong attention to detail
• Organizational abilities
   

Public Finance Manager (senior-level)

Public finance managers handle budgeting and financial reporting, helping government agencies make the most of often limited resources. They strive for maximum transparency and accountability to ensure that public funds are used responsibly. In the public sector, finance professionals can also shape policy developments, ensuring that fiscal strategies align with the public good.
 

8. Financial Consulting Careers

Financial consulting provides the chance to pursue the often-competing priorities of ambition, autonomy, and balance. This area is nearly as versatile as finance itself, offering many ways for professionals to leverage their unique skills or knowledge.
 

Financial Consultant (mid-level)

Financial consultants’ financial expertise and perspectives help clients address complex financial challenges and hidden opportunities. Working with consulting firms or as independent advisors, these professionals provide strategic guidance that helps organizations optimize resources and achieve long-term growth.
 

Actuary (senior-level)

Although often associated with the insurance industry, actuaries hold roles across diverse specialties, drawing from their advanced statistics skills to measure risk. They reveal the likelihood of specific events that may impact the organizations they serve—and they use these insights to design policies that limit the financial impact of identified risks.

Although often directly employed by insurance companies or financial institutions, actuaries can work as consultants, too, offering valuable perspectives into risk management as it relates to corporate initiatives, client-focused decisions, or even public policy.
 

How a Master’s in Finance Prepares You for These Careers

A master’s degree in finance can drive success across the range of roles highlighted above—and some of these jobs could be downright difficult to obtain without a targeted graduate-level degree. The credential itself promises resume enhancement, but the true value of this degree is realized through purpose-driven skill development and practical application.
 

Advanced Curriculum That Builds Specialized Skills

The master’s in finance blends foundational concepts and specialized coursework to help future financial professionals develop a robust and well-rounded skill set. Fundamental courses cover financial accounting, corporate finance, and risk management in detail, with advanced coursework delving into fascinating areas such as behavioral finance. Specializations (such as asset management or healthcare finance) encourage career-driven students to tailor their education to their personal and professional objectives.

At the Carlson School of Management, students can customize the Master of Finance experience with specializations that match their career goals, ensuring they gain expertise in areas most relevant to their future.
 

Hands-on Learning and Real-World Application

Practical application brings complex financial theories and models to life. This is key to leveraging financial skills in diverse financial environments. Case studies integrate theoretical knowledge with decision-making skills while revealing how complex financial concepts play out in diverse areas such as corporate finance or private equity. Internships and student-managed investment funds take practical application to a whole new level, bringing critical skills into real-world problem-solving initiatives.

The Carlson School’s Master of Finance program, for example, offers hands-on experiences through the Carlson Funds Enterprise—one of the largest student-managed investment funds in the country—allowing students to manage real portfolios and hone decision-making skills under real market conditions.
 

Career Networking and Placement Support

Networking is crucial for elevating master’s in finance careers. The right contacts can lead to VC opportunities, consulting clients, or strategic partnerships. The master’s in finance boosts networking by encouraging students to connect with other passion-driven professionals. This begins with an intentional approach to coursework, using discussions or projects as a chance to spark meaningful relationships.

Networking events expand on this solid foundation, with students and alumni finding many opportunities to connect virtually and in person. At the University of Minnesota, our Carlson School of Management Business Career Center elevates this effort through personalized career support, driving strong connections between employers and graduate students.
 

Which Finance Career Is Right for You?

While exploring careers in finance, be mindful of your unique goals and interests. Consider how you can leverage your advanced skills to make a difference, accounting for the fact that you will also need to gain experience in entry-level roles before pursuing management and other high-level positions. There is no “right” pathway, but as you reflect, take these trends and characteristics into account:

• Investment banking, private equity, and M&A promise a fast-paced environment and the opportunity to drive high-stakes, high-impact deals.
• Portfolio management and investment management focus on the big picture, offering the chance to influence long-term investment strategies.
• Risk management, compliance, and actuarial science appeal to analytical thinkers and detail-oriented professionals, who enjoy helping organizations navigate complex challenges.
• Financial technology offers a fascinating dive into tech-driven opportunities, along with the chance to drive change in the fast-paced financial services industry.
• Public finance and economic policy bring informed decision-making to the public sector, helping agencies serve constituents through fiscal responsibility and strategic resource allocation.
   

Why Choose the Carlson School of Management for Your Master of Finance?

As you clarify your personal and professional goals, look to the UMN Carlson School’s Master of Science in Finance for powerful preparation and real-world experiences, and robust support to guide you toward your ideal finance path. With a flexible 10- or 16-month format and a STEM-designated curriculum, you’ll refine your quantitative and analytical skills while tailoring your studies through specialized or research tracks.

Ready to take the next step? Reach out today to learn more about this program and the application process—or to discover how a master’s in finance can help you achieve your personal and professional goals.