An MBA or an MFin? It’s a common initial question that I’ve most often been asked by experienced working professionals in the finance-related industry thinking about advancing their career through higher education.
As with most things in life, what it comes down to is what works best for you. What are your personal circumstances and career goals? Is your undergraduate degree and working experience in a specialized field (like engineering, or pharmacy)? Are leadership skills and an understanding of other functional areas in an organization something that you feel you need to advance (or even change) your career? An MBA with a strong generalist outlook that could also be customized by an academic major may be worth exploring.
A working professional Master of Finance may be a better fit for those who are already in a finance area, and want to develop a much meatier, wider palate of the finance world. With this specialized degree, you’ll get a depth and breadth of sophisticated finance. Let’s put it this way: you’ll be able to speak the language of finance from derivatives to portfolio management. Just to put the caliber of the Rotman MFin into perspective, over 50% of our incoming MFin students already have their CFA I, II or III although having a CFA is not a requirement for admission.
Honestly look at your own life goals and do your research. Everyone’s goals are different, and so are how Masters’ programs are structured to help meet them.
Eva Hughes is Director, Admissions & Recruitment for the Rotman Morning & Evening MBA and Master of Finance working professionals programs.