MBA vs Master of Finance: Which Is better?

A master’s in finance is a generalist finance master’s degree designed to aid students in preparing for a wide range of career options. If you’d like to pursue a financial career, earning a master’s degree can be a lucrative choice. It can help you advance your understanding of corporate financial practices and, in turn, elevate your career prospects. 

At the graduate level, you have the option of earning a Master of Finance or a Master of Business Administration (MBA) with a concentration in finance. Each degree type is structured differently, and the one you choose will depend on your experience and career goals. Read on to learn more about these types of master’s in finance degrees, how they compare to one another, and what you can learn in each type of programme. 

Master of Finance vs Master of Business Administration 

Generally speaking, a Master of Finance is for financial professionals who want to further their financial knowledge and technical skills within a short period of time. An MBA in finance, on the other hand, is for students who want to gain broad business knowledge whilst focusing a significant portion of their coursework on finance. 

Master of Finance degree

Master of Finance students are likely already working in finance, perhaps as staff accountants or as members of a company’s corporate finance team. These programmes tend to take around one year to complete. 

A growing number of online master’s in finance programmes have become available, which can be a useful option when you’re working full time and prefer greater flexibility to finish your education. You may have the opportunity to enrol part time or full time in an online master’s in finance, taking courses asynchronously or virtually, and working through the programme at your own pace. 

Coursework 

Master of Finance courses explore the subject theoretically and practically, so you can strengthen important skills in the areas of corporate finance and investing. You can expect to deepen your knowledge of economics, statistics, ethics, and data, among other topics. Your courses may include:

• Corporate finance

• Financial markets and investment

• Time series analysis and forecasting

• Asset markets

• Financial modelling

• Business valuation

• Quantitative methods

• Markets and securities

Specialisms

You may have the option of choosing electives based on an area of finance that interests you. In such cases, after completing the coursework outlined above, you can select an aspect of finance that you want to learn more about. Students often choose a specialism based on their career goals. Specialisms can include:

• Corporate finance

• Options theory

• Trading strategy

• Financial systems

• Risk management

• Portfolio management

• Asset allocation

• Blockchain and applications 

• Banks, regulation, and monetary policy

• Mergers and acquisitions

• Shareholder activism and corporate responsibility

MBA degree

Finance is often one of the top-paying MBA concentrations. Whilst students do not have to pursue a career at a financial institution, many graduates end up working in investment banking, asset management, executive management, and consulting.

Unlike the Master of Finance, you won’t have the option of choosing a niched financial specialism because your concentration will count as such. Traditional MBA degrees take approximately one to two years to complete, and most programmes expect students to attend full time. However, you’ll find a number of options, such as part-time MBAs or online MBAs, that allow you to keep working whilst earning your degree. 

Coursework 

The courses you complete as part of your MBA will combine foundational business classes with electives that focus on finance. 

Examples of general business courses are as follows: 

• Foundations of leadership

• Business strategy

• Managerial economics

• Organisational behaviour

• International finance

• Research methods

• Business ethics

Examples of MBA in finance courses: 

• Financial strategy

• Entrepreneurial finance 

• Sustainable business

• Marketing

MBA vs Master of Finance: Which is better? 

To make sure you pick the right master’s in finance for you, it helps to consider what you want to learn by enrolling in a master’s programme and what you hope to do after graduating. 

If you’re new to finance and interested in a career in the field, an MBA might be the better choice. Many Masters of Finance programmes require prior financial experience.

If you’re a financial professional who wants to accelerate your career, a Master of Finance may be the stronger option given your ultimate goals. 

Regarding careers, you can pursue many similar senior or managerial financial roles with both degrees. That said, an MBA may broaden your career prospects because of its foundational business curriculum. 

Whilst your earnings will depend on your company and location, MBA in finance graduates can earn an average salary of between £37,000 to £64,000, depending on your role, company, and experience level [1]. 

MBA programmes can also be competitive—and may be costly. For example, an MBA from London Business School costs approximately £119,950 [2]. Comparatively, Master of Finance degrees, like the one at the University of Edinburgh, tend to cost around £29,900 [3]. 

What can you do with a master’s in finance? 

The possibilities for work following a master’s in finance are strong, with access to a number of industries, such as government, manufacturing, and tech. 

Managerial finance jobs have a strong career outlook, with most employers feeling optimistic about their organisation’s performance in the coming year. The roles you can pursue after earning a master’s degree in finance will vary. Explore some common examples below: 

*Salary data from Glassdoor is accurate as of April 2025.

Getting started with Coursera

A master’s degree in finance is an effective way to develop the skills you need to advance your career. Whether you earn an MBA or a Master of Finance, you’ll build a strong foundation for a lucrative career in business and finance. Earn your Master of Business Administration from the globally renowned Gies College of Business at the University of Illinois, Champaign-Urbana, on Coursera for a total cost of 23,904 USD. The programme offers several concentrations, such as financial management and managerial economics. You can take any of these separately, and your coursework will count towards your degree if you decide to enrol later. 

If a shorter programme better suits your needs, the University of Glasgow offers an MBA Essentials course. Explore more on Coursera today.