Deciding on a Master’s in Finance vs. an MBA is a significant choice that can shape your career trajectory. Both degrees offer unique advantages, with one focusing on specialized financial expertise and the other providing a broad foundation in business leadership. Are you drawn to in-depth financial analysis or strategic management across industries?
In this guide, we’ll break down the differences between these two graduate programs—examining degree structures, coursework, career paths, and salary expectations. Whether your goal is to lead a company or master financial strategies, Pace University’s programs offer the tools to achieve success.
A Master of Business Administration (MBA) is a graduate-level degree that equips students with a broad understanding of business fields, including finance, marketing, management, accounting, organizational structure, and entrepreneurship. This versatile degree prepares graduates for leadership roles in diverse industries and organizations.
MBA programs build on foundational business knowledge and emphasize leadership, strategic decision-making, and problem-solving. Most programs require applicants to hold a bachelor’s degree, and many prefer candidates with one to two years of professional experience to ensure they bring practical insights to the classroom.
At Pace University, students can select from a wide range of MBA specializations tailored to various career paths:
The length of an MBA program can vary depending on the format:
MBA programs offer a comprehensive curriculum designed to cover all aspects of business management, including:
An MBA provides a holistic understanding of business, along with the skills to:
MBA graduates are well-prepared for mid-level and senior management roles across industries. Common career paths include:
Earning an MBA can significantly increase earning potential. Graduates often secure roles in high-demand fields where advanced leadership and strategic thinking skills are valued.
A Master of Science in Finance (MSF or MFin) is a graduate-level degree designed to develop advanced expertise in financial management, investments, and financial theory. Unlike an MBA, which covers a broad range of business disciplines, a master’s in finance focuses exclusively on deepening knowledge in corporate finance, risk management, portfolio analysis, and more.
MSF candidates are typically expected to have a bachelor’s degree in business, finance, economics, or a related discipline. Applicants who excelled in quantitative coursework during their undergraduate studies are especially well-suited for this program.
At Pace University, students can pursue the following graduate programs in finance:
The duration of a master’s in finance program is generally shorter than an MBA:
The curriculum of a Master’s in Finance program is highly focused on finance-specific skills and topics, such as:
At Pace, hands-on experiences, including simulations, case studies, and capstone projects, prepare students for the complexities of the financial world.
A Master’s in Finance provides students with:
Graduates of a Master’s in Finance program often pursue roles such as:
A Master’s in Finance can lead to lucrative opportunities, especially in financial hubs like New York City.
| General MBA | Corporate Finance MBA | Investment Management MBA | |
|---|---|---|---|
| Degree Focus | Broad business foundation covering leadership, strategy, marketing, and financial decision-making across industries | Broad business foundation with a specialization in corporate finance, leadership, and strategic management | Broad business foundation with a specialization in portfolio management, investments, and capital markets |
| Program Duration | Typically 11 months to two years, depending on full-time or part-time format | Typically 11 months to two years, depending on full-time or part-time format | Typically 11 months to two years, depending on full-time or part-time format |
| Coursework | Includes business strategy, leadership, marketing, finance, and organizational behavior | Includes corporate financial management, global financial markets, managerial economics, business analytics, and leadership development | Focuses on portfolio management, investment analysis, asset allocation, and global financial markets |
| Areas of Expertise | Leadership, strategy, team management, operations, and problem-solving | Professional, problem-solving, and leadership skills | Portfolio analysis, investment strategy, and financial market management |
| Career Paths | Mid-to-senior level roles across industries, such as operations manager, business consultant, and general manager | Leadership positions in corporate finance, management consulting, business operations, and strategic planning | Leadership roles in investment management, hedge funds, portfolio strategy, and private equity management |
| Salary Range | National Average: $98,000 NYC Average: $180,923 | National Average: $107,000 NYC Average: $161,825 | National Average: $115,000 NYC Average: $210,323 |
| MS in Financial Management | MS in Financial Risk Management | MS Financial Operations and Technology | |
|---|---|---|---|
| Degree Focus | Specialized expertise in financial theory, investment analysis, risk management, and corporate financial strategy | In-depth focus on risk analysis, mitigation strategies, and regulatory compliance in financial contexts | Interdisciplinary finance and tech program emphasizing AI, blockchain, machine learning, and their application in finance settings |
| Program Duration | Generally completed in 12–18 months for full-time students, with part-time options available | Typically 12–18 months full-time, with part-time schedules for working professionals | Typically 1.5–2 years full-time; part-time options available |
| Coursework | Focuses on financial modeling, portfolio management, corporate finance, risk analysis, and quantitative methods | Includes risk assessment, derivatives, financial regulation, advanced quantitative modeling, and compliance | Includes financial technology, data analytics, investment management, and corporate finance applications |
| Areas of Expertise | Investment strategies, corporate financial management, and advanced quantitative finance. | Risk analysis, compliance, financial regulation, and mitigation planning | FinTech product design, IT-based financial solutions, operational finance, and data-driven decision-making |
| Career Paths | Finance-specific roles like financial analyst, portfolio manager, risk manager, corporate treasurer, and investment strategist | Specialized risk management positions, such as financial risk analyst, compliance officer, or regulatory consultant | Financial systems manager, FinTech product manager, compliance officer, financial analyst, banking operations manager |
| Salary Range | National Average: $88,000 NYC Average: $102,117 | National Average: $88,000 NYC Average: $102,117 | National Average: $88,000 NYC Average: $102,117 |
Note: All salary figures were sourced in November 2024. Annual wages can vary based on a number of factors, including employer, location, and years of experience.
Pace University offers a range of graduate programs tailored to students' diverse career goals, academic strengths, and professional aspirations. Whether you’re drawn to the leadership focus of an MBA or the technical expertise of finance-specific master’s degrees, the following considerations will help you decide.
Whether you’re drawn to the leadership opportunities of an MBA or the specialized expertise of a Master’s in Finance, Pace University has a program to match your goals. Options like the Financial Management MS, Financial Risk Management MS, Corporate Finance MBA, and Investment Management MBA offer flexible formats and real-world learning in the heart of New York City.
Is it better to get an MBA or MS in finance?
It depends on your career goals. An MBA is ideal for broad business knowledge; an MSF focuses on finance specialization.
Who earns more, MBA or Master’s in finance?
MBA grads generally earn higher salaries, especially in leadership roles. The average annual base salary is $180,923 in NYC.
Is it smart to get a master’s in finance?
Yes, if you want to build advanced financial expertise and pursue specialized roles in investment analysis, corporate finance, or risk management.
Is it better to have an MBA or a Master’s in finance?
Neither is inherently better—it all depends on your career aspirations. An MBA offers versatility and leadership preparation, while an MS in Finance focuses on deep financial expertise for technical roles.
Is an MBA harder to earn than a Master’s?
It depends on your background and interests. An MBA typically covers a broader range of topics, requiring strong leadership and strategic thinking, while an MS in Finance is more specialized and focuses heavily on technical financial skills and quantitative analysis.
Should I get an MSF or MBA?
Consider choosing an MSF if you want to specialize in finance and build advanced technical skills. Opt for an MBA if you prefer a broader business education and leadership opportunities across multiple industries.
As the demand for skilled accountants surges and the talent pipeline shrinks, Pace University is stepping up. With a legacy dating back to 1906, the Lubin School of Business is leading the charge—equipping accounting students with in-demand skills in AI, data, and ESG. In a changing profession, Pace continues to deliver the talent the industry needs now and next.
The Lubin School of Business has been selected as one of LinkedIn's Top 100 MBA Programs Worldwide to Grow Your Career. This international ranking recognizes our dedication to student outcomes and to empowering the next generation of business leaders in today's rapidly evolving workforce.
This guide highlights top business master’s degrees, each designed to provide the skills and knowledge that employers value most. Whether you’re a recent graduate or an experienced professional, these programs can open doors to influential roles and provide a pathway to long-term career growth.