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What is Banking and Financial Services?

Banking and financial services is a field of study emphasizing the facilitation of financial and economic services for individuals, organizations, and business entities.  Earning a banking degree will help propel graduates in the right direction within the financial services industry.

Financial services are defined as the economic services offered to consumers from a number of institutions and professionals.  As the largest market resource on the globe, financial services can include a number of services and organizations.  The services provided by financial services firms can include personal financial services, business bankers, investing, accounting, investing advice, and advising.  The organization types included in financial services are:

Banks GSE's
Credit Unions Check Cashing
Accountants Currency Exchange
Insurance Lenders
Credit Card Investors
Electronic Data Interchange Interbank Networks
Stock Brokerages Commodity Exchanges
Consumer Finance Private Equity
Venture Funds Advisors
Investment Agencies

 

Banking, on the other hand, is defined as a type of financial institution that creates credit via deposits from members or the general public. Banking professionals provide loans either directly (consumers, commercial entities) or indirectly (capital markets, fractal investing).  A banker is highly regulated industries to ensure stability and protect consumers.

Degree Median Salary vs Adjacent Degree Types

Source: BLS, US Census, and IPEDS

2024 Best Banking and Financial Services Degree

New York University was founded in 1831 and it has been offering since then a variety of programs for enrolled students.  In fact, the voluminous academic programs at NYU include highly regarded programs from nursing to business.  Specifically, the top ranked banking and financial services degree tops our list this year.  In this degree pathway, students will learn to acquire core knowledge and quantitative skills that are invaluable assets for success in the business professions. As the program provides and acknowledges that modern business must be deeply familiar with technology and innovation, and work in diverse venues. These studies will help the students to enrich its further knowledge and skills in banking and financial services.

Acceptance Rate

16.2

Student to Faculty Ratio

9:1

Boston University was founded in 1839 and affiliated with the United Methodist Church.  The university is a private research center located at Boston, Massachusetts. Further, it offers a variety of programs in different fields of interests and choice of career works.  The Questroom of Business offers various programs related to the business and financial banking industry.  They help the students to prepare themselves as ethical and innovative leaders who create value for their organizations, their communities, and the world. And what's the beauty of the programs in Questrom School of Business is all of its undergraduate and graduate degree programs at Questrom are accredited by AACSB International.

Acceptance Rate

18.94

Student to Faculty Ratio

10:1

Case Western Reserve University was established in 1967 and it is a private university located in Cleveland.  The university offers a variety of programs spanning the arts and sciences, engineering, health sciences, law, management, and social work. And provides groundbreaking research and enriching education for the betterment of the students' study.  Moreover, at Case Western Reserve University the academic degrees they offer are unique as the students who pursue them.  For business related or financial banking related courses, they provide major grounds students in the functional areas of business for career preparation across a broad spectrum of industries.

Acceptance Rate

27.36

Student to Faculty Ratio

11:1

Christian Brothers University was established in 1871 by the de Lasalle brothers. Also,  it is a private Catholic university run by the Institute of the Brothers of the Christian Schools in Memphis, Tennessee. Further, they are offering a variety of programs that will help the student reach their career goal. In their business department, the top rated banking degree within the finance department provides training and quality education identifying some of the skills and interests on this list, a career in banking .

Acceptance Rate

50.15

Student to Faculty Ratio

12:1

Hampton University was established in 1868. It was known as a private historically black university located in Hampton, Virginia. Moreover, they are offering various programs.  And it includes financial and baking programs. The programs settle to provide quality education and training to prepare students for careers in a global market, and for graduate study. It was designed to prepare them particularly careers in corporate finance, investment management, public finance, insurance and related areas. Instructional techniques include both theory and practical application.

Acceptance Rate

36

Student to Faculty Ratio

13:1

University of Houston located at Houston Texas is a public research university that was established in 1927. For the past few years, the university has been classified R2: Doctoral University as a highly regarded research school that offers qualified students a variety of academic programs. The University of Houston offers a variety of programs in different areas of study for up to 282 degree programs. Moreover, the university offers BBA in Finance which is designed to provide knowledge, market relevance, and technical skills for them to survive in a dynamic and challenging world in market, business and finance. The program also offers MS Finance degree and PhD program in Finance. 

Acceptance Rate

64.98

Student to Faculty Ratio

22:1

Hofstra University was established in 1935 and it is a private university in Hempstead, New York. Also, Long Island is the largest private university located in Hofstra as an extension of New York University connected to Nassau College – Hofstra Memorial of New York University at Hempstead, Long Island. The university offers a variety of programs and it includes programs for undergraduate, graduate, and PhD degree.  In banking and finance programs they are offering 3 major programs. It provides quality education, ethics, and principle that is essential for their future career. 

Acceptance Rate

68.49

Student to Faculty Ratio

13:1

University of North Florida was established 1965. It is a public university located in Jacksonville, Florida. It has been part of the State University System of Florida and also accredited by the Commission on Colleges of the Southern Association of Colleges and Schools to award baccalaureate, masters, and doctorate degrees. Moreover, the major in banking and finance degree program provides qualified students with an education revolving in a major in finance that is designed to develop an understanding of the financial aspects of the contemporary economy, the operation of financial institutions, and the financial management of business operations.

Acceptance Rate

72.28

Student to Faculty Ratio

19:1

University of Nebraska was established in 1869. The university  is a public land-grant research university in Lincoln, Nebraska. The university is  the state's oldest university and the largest in the University of Nebraska system. Further, they are offering various programs that students can pursue. The finance degree program at the university has been helping the students to make themselves better for their future career goal. Another, they help the students to develop their understanding of financial decision making that is relevant to portfolio and risk managers. As well as corporate finance officers. Not just that, they are trained to be in the latest quantitative methods and real-world applications are presented through case studies.

Acceptance Rate

57.35

Student to Faculty Ratio

8:1

Touro College was established in 1971 and it has been offering a variety of programs for the students. Students can choose from a wide range of disciplines from liberal arts, science, business, math, or technology. Moreover, they are offering a finance program for those students who want to pursue a financial banking career path. Touro College valued quality education that the students need once they look for a job in the industry.  The college system does more than simply offer quality academic programs in business and finance, they go beyond to help students really understand real world complexities within each economic sector.  The interdisciplinary learning approach helps Touro College students understand and apply sound business principles as they think deeply about the business impact of financial decisions. 

Acceptance Rate

69.42

Student to Faculty Ratio

13:1

University of Nebraska Lincoln was established in 1869. The university is a public land-grant research university in Lincoln, Nebraska. It is the state's oldest university and the largest in the University of Nebraska system. Further, they are offering various programs that students can pursue. The finance and banking degree at UN Lincoln has been helping the students to make themselves better for their future career goal. Another, they help the students to develop their understanding of financial decision making that is relevant to portfolio and risk managers. As well as corporate finance officers. Not just that, they are trained to be in the latest quantitative methods and real-world applications are presented through case studies.

Acceptance Rate

78.23

Student to Faculty Ratio

18:1

Oklahoma Christian University was established in 1950 and has been producing skilled students in the society. They are offering a variety of programs in bachelor degree and graduate degree programs. The flexible and affordable university ensures the education and training that students need. For finance programs, they can acquire accounting and finance abilities and knowledge taught by the experts, professors and renowned businessmen during seminars and training. The innovative method that they provide will definitely strengthen the individuality of the students. Furthermore, the finance program is under business school and the College of Business Administration was accredited by the Council for Higher Education Accreditation. 

Acceptance Rate

66.55

Student to Faculty Ratio

13:1

Iona College was established in 1940 just over eighty years ago. The private catholic college offers various programs. They offer up to 60 undergraduate programs and 45 graduate programs which are located in Rochelle, New York. Moreover, the college system offers a top rated major in banking and finance program which helps the students improve their finance decision, guide processes, and the success of any business or organization. Students can benefit from the intensive learning way and training that the college offers in various areas. Further the business college at Iona College is accredited by the Middle States Commission on Higher Education and AACSB International (Association to Advance Collegiate Schools of Business)

Acceptance Rate

84.11

Student to Faculty Ratio

16:1

Sam Houston State University located at Huntsville, Texas is a public university that was established in 1879. The university was named after Sam Houston. Another, the university is also a member of the Texas State University System. Moreover, it offers various programs in different areas of study for undergraduate, graduate, and doctoral degrees. For their Financial and Banking program, the university offers a highly regarded Banking and Financial Institution academic pathway for qualified students.  This business concentration is specifically designed to provide a clear and advanced path for the students to enter the financial career world. The program will take 120 credit hours and tuition will rate per semester. 

Acceptance Rate

83.4

Student to Faculty Ratio

N.A

University of Indianapolis located at Indianapolis, Indiana is a private university that was established in 1902. The was originally popular as Indiana Central College. For the past few years, the university opened eight departments and 3 divisions. Moreover, the university offers a variety of programs for undergraduate, graduate and professional study in different areas of study. With respect to the degree in finance and banking,  the university offers an accredited program in finance for business.  The concentration within business is designed to provide knowledge and skills about the financial system, markets, and important fundamentals that is needed once they enter the financial industry. 

Acceptance Rate

92.79

Student to Faculty Ratio

13:1

SUNY College of Agriculture and Technology at Cobleskill, New York is a public college that is part of State University of New York was established in 1911. The university offers a variety of programs in different areas of study for undergraduate and diploma degree programs. For their Financial programs, they are offering Financial Services program which is designed to provide a quality education, practical real-world training and internships that are integral part of the program. Also, the program will take 122 Credit hours or 4 years and through that years it will be more on professional training for the students and giving them applied knowledge in the areas of communication, corporate banking, financial services, and management. 

Acceptance Rate

53.72

Student to Faculty Ratio

16:1

University of Nebraska located at Omaha, Nebraska is a public research university that was established in 1908. The university offers a variety of programs for undergraduate, graduate and professional study in different areas of study. Another, the university focused on students as to properly provide them dynamic education and training to become great community leaders in a diverse and evolving society. Moreover, the university offers Finance and Banking programs and scholarships. The program is designed to provide in- depth knowledge in finance, legal studies, banking and investment science that could help the students extend a deep understanding of financial banking and the financial system at large.  The program will develop the conceptual, communication and financing skill of the students. 

Acceptance Rate

83.46

Student to Faculty Ratio

15:1

Hardin - Simmons University located at Abilene, Texas, United States is a private university that was established in 1891. The university ranked 33 at Regional Universities in the West and reported in the U.S. News & World Report in 2016. Also, the Christian university offers a variety of programs in different areas of study for undergraduate and graduate degree programs. For their Finance degree, the program is designed to provide maximum flexibility to offer the students a quality education and training they need to succeed within a highly competitive industry.  In addition, the program provides a variety of possible techniques in banking, brokerage, corporate finance, investments, and other related business and finance banking. 

Acceptance Rate

83.78

Student to Faculty Ratio

12:1

The University of the Incarnate Word located at San Antonio & Alamo Heights, Texas is a private and coeducational institute that was established in 1881. The university also operates two elementary schools. Another, the university was re-accredited in 1998 the bachelor and master’s degree program together with the approval to offer doctoral degree programs.  UIW is accredited by the Southern Association of College and Schools Commission on Colleges. The university offers a wide variety of highly touted academic programs from the humanities to business specialties such as finance. The program is designed to provide professional and knowledge about financial concepts, asset valuation and personal financial planning. The program will take 120 hours and also offers two specialization paths which are Banking and Financial Planning. 

Acceptance Rate

93.77

Student to Faculty Ratio

11:1

Northern State University was established in 1901. It is a public university located in Aberdeen, South Dakota. The university was governed by the South Dakota Board of Regents. Another,  they offer 38 majors, 42 minors, associate program, pre-professional and nine graduate degrees. As they offer a variety of programs, their financial and banking programs provide strong support for professionals.  In addition to rigorous classroom work, NSU provides qualified students access to internships and part-time work within the banking and financial services industry.

Acceptance Rate

84.46

Student to Faculty Ratio

21:1

Eastern New Mexico University located at Portales, New Mexico is a public university that was established in 1927. The university is also a member of the Hispanic Association of Colleges and University . Another, the university offers a variety of programs for undergraduate, graduates, and professional study in different areas of concentration. Moreover, the university offers a Finance program that is designed to provide in-depth knowledge in banking, finance, managing taxes, and financial planning.  The program will take 120 hours to complete and earn the bachelor degree program. 

Acceptance Rate

58.25

Student to Faculty Ratio

17:1

Arkansas Tech University loathed at Russellville, Arkansas, United States is a public university that was established in 1909. The university offers a variety of programs in different areas of study and focused to provide bachelors, graduates, associate and certificate education programs. Another, the university offers a finance and banking degree program that is designed to provide combined accounting, finance and banking, and economic study. These studies will utilize the idea that students can acquire and learn to apply it in the real finance world. The program is very hands-on in terms of giving the students the research, internships, and simulation program that could help them build their professional individuality. 

Acceptance Rate

94.74

Student to Faculty Ratio

18:1

CUNY York College or popularly known York College located at Jamaica, Queens, New York, United States is a public senior college that was established in 1966. The college school was the first senior college formed by the CUNY System. The school was recognized as the center of excellence within CUNY, as they are offering liberals arts and science. Moreover, they offer a variety of programs in different areas of study. Including some business programs. For their finance and banking, the department of Accounting and Finance provides theoretical, intellectual, practical and ethical resources that are needed for the students. The coursework in the programs prepares the student to be ready in the financial world. 

Acceptance Rate

72.84

Student to Faculty Ratio

20:1

University of Alaska Fairbanks located at College, Alaska, United States is a public land-grant research university that was established in 1917. The university was originally named as Alaska Agricultural College and School of Mines before and in 1935 became the University of Alaska. Moreover, the university is now classified as R2: Doctoral Universities - High research university activity which offers a variety of programs. The university offers programs in different areas of study for undergraduate, graduate, and professional study. For their Finance program, they are offering it in a Minor degree program. The UA finance degree is designed to provide basic principle of financial accounting, management, and other principle of economics that will deepen the understanding and skill in financial service and banking of the students and graduates. 

Acceptance Rate

75.99

Student to Faculty Ratio

11:1

University of Alaska Southeast located at Juneau, Ketchikan, and Sitka, Alaska, United States is a public university that was established in 1972. The university offers a variety of programs and is accredited by the Northwest Commission on Colleges and Universities. Moreover, for their finance program the Business college of the university offers a Business and Management that tackles and discusses coursework studies of financial service and banking. These courses will help business students and graduates understand the world of banking finance and the market business world. 

Acceptance Rate

60.57

Student to Faculty Ratio

10:1

Top Banking Degree Levels

For students considering a degree in banking, rest assured there are a wide variety of options. A career banking degree can range from undergraduate certificates to graduate degrees in the field of study. Additionally, students now have the opportunity to earn a banking degree online which effectively doubles your options to consider.

It is common for undergraduate students to add a minor or second major such as economics, finance, business management, or accounting to provide additional heft to the degree. A summary of online degree programs and on-site degrees can be found below to help you decipher the best program for you and your career objectives.

Certificate Programs in Banking & Finance

Certificate programs will typically be found in a course catalog as either an undergraduate certificate or graduate certificate. Undergraduate certificates are designed to provide a series of short, focused classes in a particular area of emphasis. Students earning an undergraduate certificate in banking can expect to begin a career in an entry-level position.

Graduate certificates are upper-level classes designed for experience professionals and qualified students to enhance knowledge and skills. Working professionals typically utilize a certificate program to add specific skills to their toolbox, upskill, remain competitive, advance their careers, and/or prepare for a pending career transition.

Associate Banking Degrees

An online associate degree in banking are typically conferred as an Associate of Science (AS). Associate degrees are 2-year programs for full-time students while part-time students will take longer to complete the degree. AS degrees in banking and financial services will meld liberal arts classes such as communications, history, philosophy, art, and sociology with core business classes.

Introductory classes found in the core include classes such as: accounting, finance, business communications, banker, non-traditional banking products, law & regulations, microeconomics, business development, management information systems, math, statistics, asset management, financial statement analysis, liability management, credit risk management, and lending.

Bachelor’s Degree in Banking & Financial Services

An online bachelors degree in banking or the accounting bachelor degrees are 4-year programs for students invested in full-time matriculation. University bachelor degrees in the field are conferred as a Bachelor of Science (BS). Like the associates degree programs, a bachelor degree blends general education courses with core business classes to provide a well-rounded educational experience.

Core classes found in a banking and financial services degree program will vary by school. However, students will typically learn about similar business principles including programs bachelor degrees. Examples of classes found in the program include: statistics, finance, law, ethics, business policy and strategy, management information systems, macroeconomics, financial management, fintech, investments, financial markets, financial analysis, banking regulation and compliance, corporate finance, consumer lending, non-traditional banking products, credit cards, and commercial lending.

Master’s Degree in Banking & Finance

Master degrees in banking can be found in a schools course catalog as an MBA (Masters of Business Administration), MS (Master of Science in Banking), or a MA (Master of Arts in Banking). A master degree will generally take 1-2 years to complete after all prerequisites are met. Some colleges allow students to establish an area of interest within banking a create a program that meets those specific requirements while others have a standard template graduate students will follow.

Upper-level courses in a graduate degree can include advanced banking, accounting for banking, financial markets, wealth management, financial planning, financial services marketing, compliance and regulation requirements, applied econometrics, consumer lending, commercial lending, international banking, credit analysis, and strategic management.

Benefits a Bankers Degree Online

Colleges both large and small have been scrambling to ad online finance degrees.  The impetus behind the curricular changes is driven by employer demand for quality candidates and student demand for flexible learning mediums.  The evolution of earning banking degrees online will only increase in the years to come as the quality and convenience provide unique learning opportunities for those seeking to upskill in finance.  The most common benefits of earning a degree online include:

Cost Savings

The total cost associated with earning a degree online are generally less that their on-site counterparts for a few reasons.

  • Online degrees allow schedule flexibility allowing students to continue to work and take classes, saving money associated with lost wages
  • Online college degree programs will not require students to live on campus which saves expenses related to room & board
  • Enrolling in a regionally accredited or nationally accredited college will allow you to apply for state and federal financial aid programs
Program Flexibility & Access

Enrolling in an online degree in banking provides a future banker with the ability to log-in and study without the traditional limitations of being in a classroom.  Additionally, location becomes a non-factor as you can live in New York City and take a banking class from UCLA while working full-time.

Accreditation

A bevvy of online degree programs exists from accredited colleges and universities around the country.  University responds quickly to help students understand requirements bachelor degree.  The training bachelor degree plus education requirements bachelor depend upon banking degree levels.   Earning a degree from an accredited institution will be essential to your success.  Accreditation bodies are independent organizations that vet a school’s curriculum, procedures, and processes to ensure they adhere to quality academic standards.

Student Pace

Many online degree programs in banking are self-paced in an asynchronous learning environment which provides students the ability to take as many or as few classes as time allows.  It is also important to note that many online degree programs start every week or two instead of the traditional school year schedule.

Curriculum Quality

In addition to accreditation, the quality of the curriculum will often mirror the classroom equivalent program.  Most online degrees will mirror the on-site counterpart with necessary adaptations for distance learning variations.   Seek out online degree programs with a published pathway to completion, capstone courses, thesis projects, cumulative examinations, and board-approved dissertation projects.

Employment & Investment Banking Jobs

Financial services and banking students will have a unique set of business skills that can be leveraged after graduation. Core classes in banking will prepare students for careers in financial services and lending but also various other business tracks. A sampling of career opportunities to consider for banking degree holders include financial advisors, business management, marketing, public relations, market research analyst, cost estimating, advertising, underwriting, budgeting, forecasting, auditing, modeling, recruiting, sales, and human resources.

Financial Services & Investment Banking Career

Job growth in financial services and investment banking is varied as a function of industry, roles, and job type.  The majority of financial services careers are growing at a rate that is above average with a salary above average.  To illustrate, the job growth for financial analysts is forecast at 12% while market research analysts read top 19% growth and auditors at 10% growth.  The national average rate of growth is expected to be around six percent making these roles enticing for new graduates to consider.

Income for individuals with a degree in financial services is well above average.  The median annual pay for all occupations is $37,690.  Meanwhile, the average salary for all financial service specialties is $67,710 annually.  While the salary for each discipline will vary, we have gathered a list of the most common trades along with their current median annual income.

Job Title Median Salary
Accountants and Auditors $69,350
Real Estate Appraisers $54,010
Budget Analysts $75,240
Claims Adjusters $64,690
Compensation & Benefits Specialists $62,680
Cost Estimators $63,110
Financial Analysts $84,300
Financial Examiners $81,690
Fundraisers $55,640
Human Resources Specialists $60,350
Insurance Underwriters $69,760
Labor Relations Specialists $63,200
Loan Officers $64,660
Logisticians $74,590
Management Analysts $82,450
Market Research Analysts $63,230
Event Planners $48,290
Personal Financial Advisors $90,640
Purchasing Managers $66,610
Tax Examiners and Collectors $53,130
Training and Development $60,360
Additional Financial Services Resources

For additional resources and insights into the financial services vocation, consider researching the AFA, AFSA, SFSP, and NAIFA.   These national associations offer regional chapters to help support professional growth and learning opportunities in banking and financial services.

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