If you have a business career that heavily involves finance or accounting, then you might have thought seriously about pursuing an MBA. A Master’s of Business Administration is one of the most popular certifications in the business world, and it can help to increase your earning potential as well as possibilities for new careers and promotions for the future.
However, it is important to note that not all MBAs are the same. In fact, students can specialize in specific fields, and it is important to choose the right one. An MBA in finance and an MBA in accounting certainly have similarities, but this guide explains the differences in MBA In finance and MBA in accounting degrees.
Comparing Prerequisites: MBA in Finance and MBA in Accounting
Before you start choosing between finance and accounting for your MBA specialization, it is key that aspiring students understand the prerequisites for enrollment. The MBA is an advanced degree, which means that all applicants need to hold a bachelor’s degree by the time of enrollment.
While it can be helpful for students to already have studied finance or accounting, it may not be necessary to major in either subject. However, most students will need to have a minimum grade point average that meets the college standards and GMAT or GRE results. There will be few, if any, difference between the prerequisites of an MBA in finance and an MBA in accounting.
Course Topic Similarities
The overwhelming majority of courses in both MBA programs will cover the same subjects. The objective of any MBA program is to prepare students for management positions in the field of business. Whether the emphasis is to lead in a financial environment or an accounting one, the principles of leadership and the understanding of economic activity remains the same.
Some of the core classes that will come up in both degree programs might include business communication, organizational behavior, operations management and IT strategy. There will only be two or three courses in your specific field, whether that is finance or accounting, and the subject matter can often overlap.
Career Opportunities For Graduates
Perhaps the biggest difference between the two MBA degree programs is career opportunities for graduates. With an MBA in finance, some of the most common job positions include financial consultant and financial analyst, and most of the careers will be offered by large multinational corporations.
However, an MBA in accounting offers accounting and bookkeeping careers, which are generally available at every company or nonprofit organization.
Similar Advantages For Online Learning
Whatever specialization you choose for your MBA, online degree programs will be the best option for busy students. Since you can watch recorded lectures from home and take exams whenever it fits into your schedule, it is possible to work full-time and still advance your degree.
Earning an MBA, or Master’s of Business Administration, is key for those in the world of business. Accredited online colleges offer these degrees with specializations in both accounting and finance to best fit your needs and your career goals for the future.