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How To Make the Right Assisted-Living Choice
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Business New Haven
11/10/2003
By: BNH
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A master's of science in finance degree can provide unique opportunities for individuals who want to enhance their career depth in the areas of investment, corporate finance or banking.
A base master's of finance program may consist of ten courses. It is particularly useful for those who want to pursue advanced certification, such as the Certified Financial Analyst, Certified Financial Manager or Certified Financial Planner.
Though an undergraduate degree in finance is not a prerequisite, it provides a logical progression. Those with an MBA degree and an adequate background in the areas of microeconomics, macroeconomics, financial accounting and statistics are also well-served by an M.S. in finance.
Even if you don't currently have a career in the financial arena, a master's degree in finance is possible and desirable for those looking to make a career change.
Enhanced Knowledge
An M.S. in finance offers its holder greater knowledge of the specifics of financial management tools, understanding terms of derivatives, and it enables one to understand more about investment analysis and the capital budgeting process. From a detailed financial perspective, it also enables a professional to research financial markets as some students may choose to have that financial research as a background if they go on to pursue a career as a CFA.
A master's in finance expands on the undergraduate degree of finance with a blend of finance theory and applied analysis, production and operations, marketing, information systems, ethics and the law. When you begin upper-level study of finance, you will have a good idea of the place of finance in the business world, both national and international.
Professionals who would benefit most from a master's in finance are those who may have taken an undergraduate degree in business and decided that finance is where they want to take their career.
Many middle managers and executives seek an M.S. in finance to stay competitive in today's evolving business world. They are likely interested in some of the more specific and technical areas of finance and they wish to grow professionally with additional knowledge. It would also benefit those people already working in financial markets who have perhaps "hit a wall" in terms of their knowledge.
The financial industry evolves so rapidly that even if one is out of school for a few years, there are many new financial instruments being introduced. Some knowledge-hungry people figure the best way of doing keeping updated on the financial industry is to work toward a master's.
Who Can Benefit?
o Commercial bankers. More people are employed today in the commercial banking field than in any other financial-services career.
o Corporate finance department employees in either large or small companies. Corporate finance is a stable but performance-based job. Company success depends largely on the knowledge in the corporate finance department.
o Financial planners - especially Certified Financial Planners.
o Insurance professionals. The insurance industry employs more than 2.5 million Americans, and the prospects for employment in insurance are increasing.
o Investment bankers - including those who work for large companies like Salomon Smith Barney or smaller, boutique firms.
o Real estate professionals, especially those in the fields of mortgages, property management and appraisals. Also under the real estate umbrella, you'll find many investment banks that have special departments that deal with packaging and selling mortgages to government institutions such as Fannie Mae and Freddy Mac.
Though some would think that the financial services world is shrinking with bank and corporate mergers, finance is still one of the largest undergraduate majors and the most popular graduate area of study. Part of the theory behind the popularity in this part of the country is because Connecticut - especially Fairfield County - is right in the financial-services epicenter of North America - and also the world.
Whether here or there, if you want to move on, make a difference and climb the corporate ladder, a master's in finance will undoubtedly bring more value to your career.
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