A degree in finance can be a Bachelor of Science degree in finance, which only takes four-years to complete, while an MBA is a degree that requires a bachelor's degree before being eligible for this graduate program. A Bachelor of Science in finance is an undergraduate degree and has no prerequisites except for the core courses required by the college or university. An MBA can take an additional one or two years of college to complete, adding up to as much as six years of schooling. There are other graduate programs in finance that are available to graduates with a Bachelor of Science in finance, but the degrees concentrate on different portions of a company.
A finance degree concentrates on the financial aspects of a company, such as the managing the financial decisions. These financial decisions can include what the company invests the profits into, analyzing the finances, or determining where the finances are being wasted. An MBA covers every aspect of business. An MBA graduate is concerned with marketing of the business, human resources, product placement and managing the business, as well as the finances and accounting, such as profit and loss statements.
An MBA degree opens more doors than a finance degree. Individuals with finance degrees primarily work in brokerage firms, banks, insurance companies and finance consulting firms. A person with an MBA can not only work in these industries, but can also work in every other type of industry, such as manufacturing, health care and sales. A finance degree is limited to specific departments inside a company, while an MBA expands the number and types of department a graduate can work, as well as provides the graduate with more opportunities for advancement, even up to chief executive officer.
An MBA degree offers more creative opportunities than a finance degree. The main concentration of a business administration degree is on creative ideas that make a business more visible and the kinds of decisions or ideas that can make a company grow. A finance degree graduate is primarily concerned with the profit of the company, pricing of the products the company sells, and optimum cash flow of the company. The creative ideas are expanded for an MBA graduate because of the marketing, organization transformation, and business strategies that can be addressed to ensure a company grows.