Should I get a master’s in finance?

3 min read

You’re unsure of your next step. There are so many options for a master’s degree, and they all look appealing. But which to choose? And if I want to work in finance, should I get a master’s in finance, too? Our answer lies in checking out the top trends in finance: It’s become more important than ever to upskill. This is proved by a survey conducted by the Institute of Management Accountants (IMA) where 78% of finance professionals already had a significant interest in upskilling prior to 2020. But now that interest has skyrocketed.

The acquisition of new skills is imperative in our new digital landscape. Globally, 68% of survey respondents said that upskilling appealed more to them even more than before, and 75% have been actively working to improve their professional skills in the last five years. These statistics amount to one fact: competition in finance is only getting tougher, and the most effective way of getting ahead of the game is enrolling in a finance master’s.

Out with the old, in with the new

Today, many have become seriously concerned about the relevancy and applicability of their skills in the future finance job market. According to the IMA survey, 12% of respondents genuinely believe their skills will no longer be relevant. Another 10% were unsure.

This belief becomes more prevalent among young people, who are reliant on their “hard” technical skills. As such, they haven’t yet been able to develop the soft skills necessary for success. There is a consensus that upskilling is the answer to these concerns. 80% of respondents across all regions agree that it’s helpful for career advancement.

The IMA survey also highlighted an array of financial skills that over 80% of respondents were planning to improve or were working on already, including cost management, working capital management and cash forecasting, among others. These skills form key components of many finance masters’ degree programs. This consequently streamlines the process of upskilling through in-depth coverage of multiple different skills. Participants also gain a more comprehensive overview of financial knowledge.

Forbes predicted that the primary role of financial services will pivot more heavily from value stewardship towards value creation. This is already a key concept in investment banking, and its success relies on communication, leadership and decision-making. To develop strategic capital structures and strong financial relationships, upskilling is a crucial step that offers a route straight to the top of corporate finance.

The role of digital transformation in finance careers

Almost universally, financial experts and commentators agree that the last few years has sped up digital transformation in all sectors of the field. Increased remote work has forced financial institutions to maximize process automation. Since people are usually the biggest cost of a company, this affects how useful skills are. Efficiency is now at the forefront of companies’ planning and operations.

Should I get a master’s in finance? The value of upskilling

Professional institutions like the IMA emphasize the need for continued learning, especially in terms of new trends in private equity, corporate finance and the workings of modern markets. While AI-related technologies such as data analytics and blockchain are quickly growing in importance, learning and practical training in these areas is best undertaken as part of a wider financial framework that understands their context and impact.

By dedicating just one year to your upskilling journey, you’ll gain skills to make a real improvement in your professional life. Beyond gaining knowledge and opening doors to top financial institutions across the globe, adopting a continuous learning mindset is the best way to adapt to global financial developments.

In today’s fast-paced context, a finance master’s is the best way to remain on top. To find out more, have a look at our Master in Finance.