Whether you have an undergraduate degree in a quantitative field and want to continue your education or you’re ready to make a career change, earning a Master of Business Administration (MBA) can be an excellent way to achieve your professional goals.
MBA programs are available with different concentrations, and two of these concentrations are accounting and finance. An MBA in accounting and an MBA in finance are both great options. Learn what separates these options so you can choose the best degree program for your goals:
Although MBA programs for accounting and finance share some similarities, they differ when it comes to the specific courses and intended applications of these degrees. MBAs in accounting and finance are each designed for their respective career fields.
Finance and accounting are related but distinct fields. Choosing between these online finance degree options depends on your personal career goals. Although an MBA in either accounting or finance prepares you to help businesses manage their finances, these fields involve different aspects of financial management.
In a nutshell, accounting centers on day-to-day financial bookkeeping, whereas finance is more focused on big-picture financial strategy. Both aspects of business are essential to help companies enjoy financial success.
An MBA in either accounting or finance can prepare you for a rewarding career. However, the career paths available to you will differ depending on the degree you earn.
An MBA in accounting prepares you for a rewarding career as an accountant or auditor (in most cases). Many accounting program graduates go on to earn a certification that makes them even more marketable, becoming a Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Internal Auditor (CIA).
Demand for accountants and auditors is expected to grow 7 percent from 2020-30, and the field comes with a median salary of $77,250, according to the Bureau of Labor Statistics (BLS). A master’s degree may help you enjoy even greater job security and higher pay in the field.
Accountants and auditors can work for individuals, businesses (across various industries), or multiple companies through an accounting firm. Beyond these options, having an MBA in accounting may open up other possibilities to move into managerial and executive positions with a financial focus. Top executive positions come with a median salary of $98,980, and job growth for these positions is expected to reach 8 percent.
A finance MBA can prepare you for numerous finance-related roles across a range of industries. Some of the most popular careers in finance include:
Any online MBA program will share similarities with other MBA programs, even if the concentration differs. MBA programs in both accounting and finance will cover core business topics at the graduate level and focus on managing a business’s financial activities.
At Mount Vernon Nazarene University (MVNU), our MBA concentrations all share 27 credit hours related to business foundations. The remaining nine credit hours in each program are specific to the concentration area. Courses are taught by passionate faculty members who have a wealth of expertise in their fields.
The MBA in Accounting program from MVNU Online consists of nine core business courses and three concentration courses:
The MBA in Finance program includes the same nine core business courses, along with three finance-specific courses:
Both programs can be completed in approximately 19 months online and allow you to fit coursework into your schedule through asynchronous learning. That means, if you’re working, you can continue to do so while you work on your degree in your spare time. Our online finance degree program and accounting program allow you to work toward your goals on your terms.
Interested in pursuing an MBA program to expand your skills and advance your career? At MVNU, we offer fully online MBA programs for professionals like you. Choose from nine career-focused concentrations, including our MBA in accounting and finance programs.
Want to learn more about other MBA concentrations? We explore other options to consider in our e-book, Comparing MBA Online Degrees for Health Care Professionals: MBA-HCA vs. MBA. Check out this resource to learn more!