An MBA degree is designed to train individuals for business careers, and it is a general business degree by nature. Usually, students will spend their first year learning business basics like accounting, finance, statistics and marketing. Many students, however, may decide to focus on a specific area while earning their MBA. Among these different concentrations are corporate taxation and individual taxation. MBA tax concentrations may be useful for individuals who know exactly what they want to specialize in and who want to expand on the skills an online MBA program will offer them.
Benefits of an MBA With a Tax Concentration
Just earning an online MBA has proven to be financially rewarding over the span of a career. According to Forbes: "Full-time MBA graduates from Top 50 schools typically realize starting salaries 50 percent higher than what they were earning in the year before starting business school." And with a secure payback the first few years of employment, and no additional cost to add a concentration, it may make sense to earn an MBA with a tax concentration to gain an advantage over the competition in the job market.
Those who choose to specialize in taxation will be able to give tax advice and plan for both individuals and organizations. The corporate MBA tax concentration will focus more on skills needed for corporate taxation.
On the other hand, professionals who choose to earn certificates on individual taxation focus primarily on federal income tax as it applies to the individual.
Tax Jobs With an MBA
MBA tax concentrations may be something to consider if you are interested in a career as a financial advisor, revenue agent (tax examiner) or chief financial officer (CFO). An MBA with a taxation concentration can be particularly useful for financial advisors, who need to consider the tax implications of their clients' strategies. This degree is also appropriate if you want to pursue a career as a revenue agent. Some revenue agents deal with tax returns for businesses and large corporations; others focus on individual taxation and work with individual taxpayers. Finally, CFOs benefit enormously by having tax knowledge that helps them when reviewing financial risks and creating business plans.
Adding the taxation concentration can help you round out your MBA by equipping you with the specialized skills required for your desired career.
Learn more about UC's online MBA programs.