Earning an online master’s in finance from an accredited program is a great way to advance your career. By earning this degree, you will gain expertise in areas like financial analysis, portfolio management, and business valuation. You’ll also develop skills such as investment strategy, financial planning, and market analysis. You may also decide to continue your education and pursue a doctorate in finance.

With a master’s in finance, you can pursue a variety of careers, such as stockbroker, financial advisor, or asset manager. Additionally, there may be internships and networking opportunities available, and many schools offer financial aid and scholarships to help with tuition costs.

Explore Featured Master’s in Finance Programs

Our Methodology

Here at TheBestSchools.org, we take the trust and welfare of our readers very seriously. When making our school and program rankings, our top priority is ensuring that our readers get accurate, unbiased information that can help them make informed decisions about online education. That’s why we’ve developed a rigorous ranking methodology that keeps the needs of our readers front and center.

Data Sources

The data used in TBS rankings comes primarily from the federal government, and much of it is provided by the schools themselves. We aggregate and analyze this data to build our rankings.

The Integrated Postsecondary Education Data System (IPEDS) is our primary source. Its data comes from annual surveys conducted by the U.S. Department of Education’s National Center for Education Statistics (NCES). Every college, university, or technical school with access to federal financial aid must participate in these surveys, which include questions about enrollment, graduation rates, finances, and faculty qualifications. This is publicly available data, which you can access yourself through the College Navigator.

Additionally, because we value a personal touch and the professional experience of our staff and Academic Advisory Board, we vet all results and adjust rankings as necessary based on our collected knowledge of schools and degree programs. Depending on the ranking, we may obtain additional input from AcademicInfluence.com, subject matter experts, prior TBS ranking lists, or other sources we deem relevant to a particular ranking.

Breakdown of Our Rankings Methodology

About Our Ranking Factors

Here at TBS, we value what you value: quality education, affordability, and the accessibility of online education. These factors guide all of our program rankings.

Each of these factors are further broken down into weighted subfactors. For example, retention rates are weighted more heavily than availability of program options because they are a better indicator of student success.

We chose the following factors for our rankings because of their influence on learning experiences and graduate outcomes. However, students should always balance our rankings against their personal priorities. For instance, a learner who needs a fully online program may prioritize online flexibility more than our rankings do. Our rankings are designed to help you make a decision — not to make a decision for you.

In all our school rankings and recommendations, we work for objectivity and balance. We carefully research and compile each ranking list, and as stated in our advertising disclosure, we do NOT permit financial incentives to influence rankings. Our articles never promote or disregard a school for financial gain.

If you have questions about our ranking methodology, please feel free to connect with our staff through contact page.

We thank you for your readership and trust.

Salary and Demand for Finance Occupations

If you are considering a master’s in finance, it is important to understand the career and salary outlook for the field. Common occupations related to finance include:

• • Accountants and auditors

• • Business teachers, postsecondary

• • Credit counselors

• • Financial clerks

• • Financial examiners

• • Financial managers

• • Personal financial advisors

The Bureau of Labor Statistics (BLS) reports that financial managers earned a median annual salary of $131,710 per year in 2021, while business and financial operations occupations earned $76,570. Financial and investment analysts earned a median salary of $91,580 in 2021, and personal financial advisors had a median salary of $94,170.

The BLS also provides data on the projected growth of careers related to finance. For example, financial managers are expected to grow 16.8% over the next 10 years, while business and financial operations occupations are projected to grow 7.2%.

Paying for a Program

You’re likely concerned about financing your master’s in finance program. It’s important to understand the various sources of financial aid and how to access them. According to a 2017 report from the National Center for Education Statistics DataLab, about 10.4% of graduate students borrowed money for their education. The average amount borrowed for graduate students across all demographics is $25,600.

For most students, scholarships, fellowships, and need-based financial aid are preferable to loans. There are many sources of financial aid, including state and private financial aid, work-study, fellowships, and 529 plans. Additionally, the cost is often different for online versus on-campus programs, and for in-state versus out-of-state students. Make sure to fill out the FAFSA to see what federal aid you qualify for.

Online vs. On Campus

Online programs provide the flexibility to learn on your own time from the comfort of home, often at a lower cost. On-campus programs, on the other hand, provide students with the traditional college experience and access to a variety of campus amenities.

The choice between an online or on-campus master’s in finance will depend on the student’s particular needs and preferences.

Public vs. Private

Public colleges typically offer a wider range of programs and classes due to government funding. They also tend to have larger student bodies, offering more opportunities for student diversity and extracurricular activities.

Private colleges typically have smaller class sizes and a better student-to-faculty ratio, but with higher tuition costs. Ultimately, the decision between private and public colleges is one that rests on the individual student.

Applying to a Finance Program

If you are applying to a master’s in finance program, there are a few key factors to consider: application requirements, program length, and school reputation.

Many programs prefer applicants with a bachelor’s degree in finance. Undergraduate work in finance or a related field will prepare you to dive deeper into the subject in your graduate studies. Additionally, you should look into the program’s duration to determine if it fits your schedule. If you need to complete the program quickly, an accelerated option may be ideal. Finally, you should research the school’s reputation to ensure it is accredited and has credibility in the finance industry. Solid programs and faculty reputation are also important factors to consider.

Take time to compare these key elements to help you to make an informed decision when applying.

FAQs about Finance Degrees

What is the future demand for careers in the finance field?

The BLS projects that several careers in the finance field will experience growth between 2021 and 2031. For example:

What qualifications do I need to work in finance?

Depending on the career, qualifications for the finance field can vary. Generally, the BLS reports that careers like accountants and auditors, financial managers, and personal financial advisors require a bachelor’s degree. Some careers like certified financial planner (CFP) require additional certification. Some positions like postsecondary business teachers may require a doctorate or professional degree.

What kind of salary can I expect to earn in the finance field?

Graduates of finance programs can enter lucrative occupations. For example, according to the BLS, the median salary for financial managers was $131,710 in 2021, while the median salary for personal financial advisors was $94,170.

This article was drafted using natural language generation technology and has been edited for clarity and accuracy. See our AI-assisted content disclosure for more details.

Sources

• • BLS Employment by Detailed Occupation. (Accessed March 9, 2023). U.S. Bureau of Labor Statistics.

• • BLS Occupation Finder. (Accessed March 9, 2023). U.S. Bureau of Labor Statistics.

• • Business and Financial Operations Occupations (Major Group). (Accessed March 9, 2023). U.S. Bureau of Labor Statistics, Occupational Employment and Wages, May 2021.

• • Financial and Investment Analysts. (Accessed March 9, 2023). U.S. Bureau of Labor Statistics, Occupational Employment and Wages, May 2021.

• • Financial Managers. (Accessed March 9, 2023). U.S. Bureau of Labor Statistics, Occupational Employment and Wages, May 2021.

• • Personal Financial Advisors. (Accessed March 9, 2023). Bureau of Labor Statistics, Occupational Employment and Wages, May 2021.

• • College Scorecard Data. (Data retrieved May 12, 2021). U.S. Department of Education, College Scorecard.

• • IPEDS Access Databases. (Data retrieved November 17, 2022). U.S. Department of Education, National Center for Education Statistics, Integrated Postsecondary Education Data System.
  • Data Lab. (Accessed March 9, 2023). U.S. Department of Education, National Center for Education Statistics.

• • Official Cohort Default Rates for Schools. (Data retrieved March 8, 2023). U.S. Department of Education, Office of Federal Student Aid.

• • What is a Finance Professional?. (Accessed March 9, 2023). Zippia.

Article link