Should a Finance Manager Do an MBA?
Many Finance Managers and Financial Controllers reach a point where they wonder whether an MBA would help their career. They have their CA or CPA. They have solid experience. But they want to move into Head of Finance, CFO or general management roles, and they wonder whether an MBA is the missing piece.
Sometimes it is. Often it is not. An MBA is a significant investment of time and money, and it does not guarantee a promotion. This article looks at when an MBA helps finance professionals in Australia and New Zealand, when it does not and what the alternatives are.
What an MBA offers
Broad business knowledge, including strategy, marketing, operations and leadership
A network of peers from different industries
Confidence in areas outside finance
A signal of ambition and commitment
Structured thinking about business problems
For finance professionals, the biggest benefit is often the broader business view and the network.
When an MBA helps
An MBA is more likely to help when:
You want to move beyond finance into general management, COO or CEO roles
You work in an industry or organisation that values MBAs, such as some large corporates and consulting
You have strong technical skills but limited exposure to strategy and leadership
You want to change industry and need a broader network
Your employer will fund or support it
When it helps less
An MBA may add less value when:
Your goal is Financial Controller or Group Financial Controller, where technical and leadership experience matter more
You do not yet have a CA or CPA, which is usually more valuable for finance roles
You would take on significant debt without a clear career plan
You cannot commit the time alongside work and family
MBA versus experience
For most finance roles, experience matters more than an MBA. A Financial Controller who has led an ERP implementation, managed a refinance and presented to the board is usually more attractive than one with an MBA but less experience.
An MBA works best as an addition to strong experience, not a replacement for it.
Alternatives to an MBA
There are other ways to build broader business skills.
Short executive education programs in strategy, leadership or finance
Governance courses, such as those offered by company director institutes
Postgraduate certificates in specific areas
Secondments or projects outside finance
Mentoring from senior leaders
Board or committee roles in not-for-profits
These can offer much of the benefit for less time and money.
Choosing a program
If you decide to do an MBA, choose carefully. Consider the program’s reputation, flexibility, cost, format and network. Part-time and online options allow you to keep working. Some programs focus more on leadership and strategy, others on specific industries.
Talk to graduates about their experience and whether it helped their careers.
How to present it
If you have an MBA, list it with your qualifications. More importantly, show how you applied it. Strategy projects, leadership changes and business decisions show its value far better than the qualification alone.
For more on qualifications, see CA, CPA or MBA for CFO roles.
The cost and time involved
MBA programs in Australia and New Zealand vary widely in cost, format and length. Part-time programs often take two to four years alongside work. Executive MBAs are designed for experienced professionals and may involve intensive study blocks. Online options offer more flexibility.
Before committing, work out the total cost, the hours per week and how it will fit with work and family. Many people underestimate the time involved.
Employer support
Some employers fund or partly fund MBAs, especially for staff they see as future leaders. Support may come with conditions, such as staying for a set period after completion. Ask whether support is available, and link your request to how the study will benefit the business.
What employers actually say
When finance hiring managers talk about what they look for, an MBA rarely tops the list for Finance Manager or Financial Controller roles. They talk about results, leadership, commercial thinking and communication.
At more senior levels, particularly CFO and general management, an MBA can help, especially in large organisations. But it is usually one factor among many, not a deciding one.
If you are thinking about general management
If your goal is to move beyond finance into running a business, an MBA can be more valuable. It fills gaps in strategy, marketing and operations and helps you think like a general manager. For more, see moving from Finance Manager to General Manager.
A balanced approach
For many finance professionals, the best approach is to build experience first, complete a professional accounting qualification, then consider an MBA or executive education once their direction is clear. That way, the study builds on a strong foundation and supports a specific goal.
A worked example: two paths
Here is how the decision might play out for two people at a similar stage. Both examples are illustrative.
Sarah, Finance Manager, Sydney
Sarah is a CPA and Finance Manager at a $90 million property services business. She wants to become a General Manager within seven years. Her finance experience is strong, but she has never managed sales or operations.
Her employer offers to fund half of a part-time MBA if she stays two years after finishing. She works out that her share, suppose around $35,000, plus about 15 hours a week of study for three years, is manageable. The program also gives her projects in marketing and operations she cannot get at work.
For Sarah, an MBA fits. Her goal is outside finance, the gaps are real and the support makes it affordable.
James, Financial Controller, Christchurch
James is a CA and Financial Controller at a $40 million agribusiness. He wants to be a Group Financial Controller or CFO in a mid-sized business. He has two young children and a mortgage.
When he talks to three CFOs he respects, none of them mention an MBA. They talk about board exposure, leading a system change and managing a larger team. James decides to lead his company’s ERP upgrade, join the board of a local not-for-profit and complete a short governance course.
For James, those steps build the evidence hiring managers actually look for, at a fraction of the cost and time.
Five questions to ask before you enrol
What role do I want in five to seven years? Be specific about the title, industry and size of organisation.
Do people in that role typically have an MBA? Look at LinkedIn profiles of ten people in similar roles.
What gap would the MBA fill? Name it. Strategy, leadership, marketing, operations or network.
Could I fill that gap another way? A project, a secondment or a shorter program might do it faster.
Can I sustain the workload? Talk honestly with your family and manager before committing.
If your answers point clearly to an MBA, go ahead with confidence. If they are unclear, wait six months and ask again.
How to show an MBA on your resume
An MBA should sit in your qualifications section, but its real value shows in your achievements.
Before: “MBA, completed 2025.”
After: In your qualifications, list the MBA and the institution. Then, under Key Achievements and Projects for the relevant role, add a line such as: “Applied MBA strategy project to the business, identifying a new service line that generated $1.2 million in revenue in its first year.”
If you are part way through, you can list it as “MBA (in progress, expected 2027)”. That shows commitment without overstating it.
How to show it on LinkedIn
Add the MBA to your education section. In your About section, mention what it changed in how you work, not just that you have it. For example, “My MBA gave me a broader view of strategy and operations, which I now use to help leaders weigh growth options, not just report on them.”
Interview questions to expect
“Why did you do an MBA?”
Link it to a clear goal and a specific gap you wanted to close. Avoid vague answers like “to broaden my skills”.
“How have you applied it?”
Give one concrete example with a result. A project, a decision or a change in how you lead.
“Why have you not done an MBA?”
This is sometimes asked for general management roles. Explain what you have done instead, such as leading projects outside finance or governance study, and what you learned. A thoughtful answer is far better than an apology.
Australia and New Zealand
Both countries have a range of MBA and executive education options, including part-time, online and intensive formats. In smaller markets, including much of New Zealand and regional Australia, the local network an MBA brings can be especially useful, as senior roles are often filled through connections. In larger cities, the choice of programs is wider, so it pays to compare format, cost and alumni network carefully.
Common mistakes
Doing an MBA without a clear career goal
Choosing an MBA over completing CA or CPA
Expecting the qualification alone to bring promotion
Underestimating the time commitment
Your next step
Write down where you want to be in five years. Then ask whether an MBA is the most effective way to get there, or whether experience, projects or shorter programs would help more.
If you want your resume and LinkedIn to show your full value, my Gold package covers your resume, cover letter, LinkedIn and positioning strategy.
If you are deciding whether to study, book a complimentary Clarity Session.
