Who earns more MBA or MS finance?

Question

Mohit C · Accepted Answer

The earning gap mainly comes from the job level each degree targets. MS Finance graduates typically start in analyst roles. For example, an MIT MFin grad joining Goldman Sachs as an investment banking analyst might earn $100K&ndash;$110K base plus $30K&ndash;$40K bonus in the first year.
MBA graduates often skip to associate-level roles. A Wharton MBA joining the same firm enters as an associate, with $150K&ndash;$175K base and $50K&ndash;$80K bonus. The total compensation is nearly 1.5x higher right from the start.
Even in corporate finance, MBA grads join as finance managers or senior analysts, while MFin grads start in junior roles. Unless someone has prior finance experience before the MFin, it takes longer to reach those higher-paying positions.
For more details you can read this blog on "MBA vs Masters in Finance"

Jayant M · Answer

In general, MBA graduates earn more than MS Finance graduates, especially over the long term. Top MBA programs like Wharton, INSEAD, and Columbia report average starting salaries between $140K&ndash;$160K, with total compensation going above $200K when bonuses are included. These roles include investment banking associate, private equity analyst, and finance manager in tech firms.
In contrast, MS Finance grads from schools like LSE, HEC Paris, or MIT Sloan usually land analyst or junior associate roles with base salaries in the $85K&ndash;$110K range. These include positions in corporate finance, equity research, and risk analysis.
The key reason for the difference is role seniority&mdash;MBAs often enter at mid-management level due to prior work experience, while MS Finance grads start at entry-level. Over time, the MBA also leads to faster promotions and broader leadership opportunities that come with higher pay.