It’s odd how one year can make such a difference in how an industry ranks in terms of net profit but the finance sector did manage to jump an amazing 6 positions from 8th to 2nd in just a single year. When comparing net profit between 2014 and 2015, the finance industry saw the most growth and many financial analysts believe that is due to the rapid growth of the US economy, putting it back in many areas at least equal to days leading up to the recession. Many industries are still struggling, but the finance sector is growing by leaps and bounds.
Net Profit Differential between Years
In 2014 the combined revenue within the financial industry totaled $11.8 billion but in 2015 that number shot up significantly leaving them in second place behind Health Technology which has typically been in first place for the past several years. If the economy continues to improve, market analysts are saying that this year the financial sector may even catch up to the health sector but that is still conjecture as there is still the fourth quarter to tally.
Results probably won’t be published until well into the first quarter of 2017 so at this time it is anyone’s guess who will rank in the coveted first position in terms of being the largest sector in the United States.
Students Seeking to Enter the Market
Oddly, when the economy is bad there is a cry for students majoring in a masters in business administration online (or on campus) and when the economy is good those very same professionals are also in great demand. This is especially the case within the finance sector because of the fact that money is changing hands and as a result, qualified professionals are needed to head up financial institutions that are growing along with the market. A school that is ranked highly with the AACSB online MBA rankings is a good choice and college advisors are saying that the best way to get an MBA is to study online while working in a professional job within the financial industry.
The Financial Industry as a Whole
Although the financial industry as a whole encompasses a wide array of financial services, lending institutions are for the first time in many years seeing real activity. An online MBA degree would place the graduate in a position to find employment as a bank administrator, a loan company director or any high level management position in need of fresh talent with a new perspective on the finance industry. For this reason, it is imperative that students choose only schools that have been accredited by prestigious organizations like the Association to Advance Collegiate Schools of Business International.
Business schools are accredited based on performance of alumni and so those coming out with an MBA and holding jobs in high ranking companies are part of why some schools rank higher than others. With the finance industry in a good position to catch up to or even surpass the health technology sector, this would be a good time to get an MBA as many doors are wide open for qualified professionals.