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What is Finance?

Finance is the area of business that deals with investment and the value of money, assessing risk and return in order to maximize profit. Finance is broken down into three categories, corporate, personal and public, each dealing a particular area and specific set of clientele and governed by different rules and laws based on what may or may not be done. In addition, individuals may pursue the study of financial theory, which is used to govern and regulate the activities of those practicing finance.

Career Summary

MEDIAN SALARY

$80,700

PERCENT ABOVE NATIONAL
INCOME AVERAGE

54.07%

TOTAL SECTOR EMPLOYMENT

2,651,370

Degree Median Salary vs Adjacent Degree Types

Source: BLS, US Census, and IPEDS

2024 Best Finance Degree

The top ranked finance degree program at Harvard University plays the role of feeding students the solid foundation in the principles of finance. They help their students gain knowledge about the critical topics to financial planning, measurement, implementation, and investment. Students will be aware of risk management, corporate finance, economic theory, and international markets. This program will develop quantitative and problem-solving skills for their students.

Acceptance Rate

4.64

Student to Faculty Ratio

7:1

Finance Concentration is an undergraduate program offered at University of Pennsylvania. Here, students are expected to develop the skills needed to work in a high level of expertise in finance. They will acquire a deep understanding about asset and management and financial markets. They will dig information about investment banking as well as the financial management of both commercial and industrial enterprises. 

Acceptance Rate

7.66

Student to Faculty Ratio

6:1

University of Chicago alumni and students claim that there is no better business school in the world to study finance than Booth. That is because their finance curriculum is being taught by world’s leading finance scholars. Scholars with an unmatched legacy of award-winning research and innovation. They provide corporate finance offerings, investment courses, and collaborative culture of inquiry and debate.

Acceptance Rate

6.17

Student to Faculty Ratio

5:1

Kellogg Finance Department at Northwestern University has an award-winning research and teaching on financial markets and institutions. Their faculty members are renowned for their empirical and theoretical work in a range of specialties. Students who declare that they want to take a Finance major will be guided to build a strong base in the principles of finance. They will be given everything they’ll need to be able to launch a successful career. 

Acceptance Rate

9.05

Student to Faculty Ratio

6:1

MS in Finance at Vanderbilt University is designed for those who think about pursuing a career in finance. This program is a 10-month advanced degree that will provide students the skills, connections and credentials that can open the door for a rewarding career. Some of the jobs that this program may lead the students are, consulting, investment banking or other jobs in corporate finance. The average employment rate of MS Finance graduates for the past 4 consecutive years is 98%.

Acceptance Rate

9.12

Student to Faculty Ratio

7:1

The top-rated finance degree at George Washington University is dedicated to equip their students with the skills that are necessary to become globally oriented and ethically minded in their use of finance. Their faculty comprises renowned scholars that are experts in their field and are able to develop a financially sophisticated graduate. Students also learn from their instructor’s real-world experiences in the field of financial industry. Upon completion of this major, they will be able to apply what they learned in addressing complex global challenges.

Acceptance Rate

14.36

Student to Faculty Ratio

11:1

Master of Science in Finance at Washington University in St. Louis provides four tracks to help their students focus on their degree. The Corporate Finance and Investment, Wealth and Asset Management, Quantitative Finance, and Global Finance. This is provided to make sure that their program is able to give a rigorous and comprehensive course of study. Each track offers in-depth training, students may choose any finance track that best fits their interest.

Acceptance Rate

13.85

Student to Faculty Ratio

7:1

Masters of finance degree program at Johns Hopkins University provides cutting-edge financial planning. This program is also a combination of theory and practice. They are dedicated in helping their students become well prepared for the CFA exam. This program is also STEM-designated which offers an Optional Practical Training STEM Extension benefit.

Acceptance Rate

11.17

Student to Faculty Ratio

7:1

The high quality Finance Degrees offered at the University of Notre Dame develop their students to become fluent in business language. Students here enjoy an educational environment that is defined by collaboration. Finance graduates revealed that they developed close relationships with their former classmates which became one of their most valuable components in their experience in Notre Dame. Their curriculum is as wide as it is deep where students don’t just learn finance, instead they personally experience it. 

Acceptance Rate

15.83

Student to Faculty Ratio

10:1

Claremont Mckenna College offers both BA and MA in Finance. Their undergraduate degree must be completed with 32 credit hours. MA in Finance that is taken as a separate one-year program requires at least 9 graduate credits. But whether you are taking BA or MA in finance, you must complete and defend a thesis in finance.

Acceptance Rate

10.3

Student to Faculty Ratio

8:1

Finance and Business Economics at the University of Southern California are a top-ranked research and programs. This program is an integration of fields of finance and business economics. They are also proud that their students are being mentored by their top-ranked faculty. They effectively teach their students by letting them explore the theoretical as well as the applied concepts of finance and business economics. 

Acceptance Rate

11.42

Student to Faculty Ratio

9:1

The Finance Degree you will find at the Tepper School is offered at Carnegie Mellon University. They give emphasis on studying how individuals, corporations, and governments manage to raise funds and allocate resources even under conditions of risk and uncertainty. Students will be trained in determining optimal funding and resource allocation decisions through studying both financial markets and financial markets. They will also receive a specific study in savings and investment strategies, international finance and tax effects.

Acceptance Rate

15.44

Student to Faculty Ratio

10:1

Every week, the finance degree program at Boston College provides an engaging forum for students, faculty and practitioners through a seminar series where emerging trends in the field of finance are being conducted by internationally renowned scholars. Faculty and alumni guarantee that they connect students to professionals in financial institutions, manufacturing firms, nonprofit organizations and to government agencies. Innovative research and preeminent faculty are just some of the highlights of this department. In business and academic fields, students will be equipped and ready to face any quantitative or analytical challenges. 

Acceptance Rate

27.22

Student to Faculty Ratio

13:1

A BS in Finance and Accounting Management is offered in Northeastern University. Students under this program are able to gain real-world work experience through conducting an experiential project in the nation’s industry-leading companies. They can also connect with Northeastern University’s alumni that are currently employed in State Street, EMC, AT&T or in other organizations. Since this curriculum is flexible, students may finish their degree on their own schedule.

Acceptance Rate

18.05

Student to Faculty Ratio

14:1

Freeman School of Business at Tulane University of Louisiana offers a program for Master of Finance. This program teaches how to create an actual portfolio and how to complete an in-depth research report about a real company. They guarantee that students will be immersed in the real world throughout their time at Freeman. The mission of this program is to make sure that their students will be fully prepared to face critical challenges starting from day one. 

Acceptance Rate

12.87

Student to Faculty Ratio

8:1

Questrom School of Business at Boston University established the Department of Finance. This department is composed of a group of accomplished teachers and talented scholars that work in areas at the cutting edge of today’s research in corporate finance, risk management, asset pricing, and governance and strategy. The mission of this Department is to seek advance understanding of complex phenomena. They aim to provide a rich and broad program of study that will prepare students for a successful career.

Acceptance Rate

18.94

Student to Faculty Ratio

10:1

A major and minor in Finance are both available at Villanova University. This seeks to produce bright individuals with the right knowledge for making sound financial decisions. VSB teaches finance theory alongside technology. They help the students develop an understanding of global and ethical issues. Learn more about this exciting degree program from Villanova University by reaching out to their admissions department. 

Acceptance Rate

28.24

Student to Faculty Ratio

11:1

The finance major offered by Wake Forest University exposes their students not just in theory but also in real-world applications of what they are learning. In that way, students are developed to think analytically and critically. They will be prepared in careers in corporate finance as well as in financial services. This major is supported with accounting concepts that are beyond the introductory level.

Acceptance Rate

29.6

Student to Faculty Ratio

10:1

The top ranked Finance degree in Lehigh University recognizes that the increasingly complex and important component of our global economy is finance. To complete the finance major, they require their students to complete at least 21 credits. These courses will provide a solid foundation that is designed to tailor the studies of the students and help them achieve specific career goals that they desire. Aside from academic studies, students will also be motivated to participate in discipline-specific extracurricular activities.

Acceptance Rate

32.1

Student to Faculty Ratio

9:1

Simon Business School at the University of Rochester offers an  MS degree in Finance. This program lets you build your career on a solid foundation. They provide analytical rigorous, acclaimed curriculum which provides tools and confidence needed to reach success in this field. The University of Rochester takes much pride when Simon Business School ranked no. 3 in the US for pre-experience MS in Finance programs.

Acceptance Rate

29.71

Student to Faculty Ratio

10:1

Finance curriculum in New York University plays an important role in honing technical and analytical skills to their students. Students will learn everything they need to understand how financial markets function, they’ll discover how businesses operate and how decisions are made within these markets. Upon completion of this concentration, students will be prepared to enter the complex and competitive world of finance. They can pursue careers in financial institutions or they can choose government institutions. 

Acceptance Rate

16.2

Student to Faculty Ratio

9:1

Rady School of Management of the University of California – San Diego offers a STEM Designated Master of Finance program. This program prepares graduates to tackle vital challenges that are faced by the financial sector. The Master program of Finance gives emphasis to quantitative methods and financial econometrics. Their graduates secured positions with organizations such as JP Morgan Chase, CITIC securities, PhoenixMart and many more. 

Acceptance Rate

31.48

Student to Faculty Ratio

19:1

Pepperdine University’s Master of Science in Applied Finance offers a STEM designated Experiential Program. It provides a STEM-designated curriculum which allows international students of F-1 visa to have the chance to apply for a 24-month extension of their OPT. They provide access to Bloomberg Professional Services terminals on campus. This program is also an accelerated pathway to an MBA.

Acceptance Rate

31.72

Student to Faculty Ratio

14:1

You can get an edge on the competition through the Master of Finance degree offered at Case Western Reserve University. This program will help you obtain the knowledge in making immediate and skilled contributions to financial modeling, derivatives, valuation, and risk management. You can expect that you will be provided with a solid foundation in finance. As a result, you will be able to apply key concepts and theories in and out of class.

Acceptance Rate

27.36

Student to Faculty Ratio

11:1

University of Florida offers a BS Business Administration Finance degree program for qualified students.  UF faculty thoughtfully designed this program to give emphasis on the acquisition and management funds by financial markets, businesses, management of financial institutions, and many more. They established a finance curriculum that can prepare students for careers in the financial services industry and corporate financial management. Graduates of this program can also pursue graduate studies in business, law, and public administration.

Acceptance Rate

36.58

Student to Faculty Ratio

18:1

Finance Classes in College

Adegree in finance equips students with the knowledge, skill and ability to manage money. Individuals who obtain a college degree will learn finance from various vantage points. A finance major will learn how to manage the assets of businesses, institutions, and individuals. Additionally, market analysis of domestic and foreign markets is typically included in the curriculum of a finance major.

Degrees in finance are available at the associate's level at a number of accredited colleges. However, a bachelor's degree and master's in finance is the most beneficial in obtaining challenging, high-level finance careers. Lastly, a doctorate in finance allows the holder to teach finance.

A curriculum in finance will include a variety of subjects for study relating to the flow of money, how it is tracked and invested, and how business profits and losses are calculated on a large scale. Students will take courses in math at various levels as related to the field, statistics, and a number of other courses to build practical skills useful for finance.

Finance Courses & Curriculum

Upper level courses will focus on business, economics, markets and other such areas necessary to understand and operate in the realm of finance. Students will be provided with scenarios, both real and fictional, that will ask the student to analyze and implement financial strategy in order to successfully assist the business provided. Such case studies help build experience through analyses and provide a better understanding of real world implementation of classroom theory and information.

Classes for a degree in finance may include:

  • Corporate Finance
  • Money & Banking
  • Financial Analysis
  • Asset Management
  • Financial Accounting
  • Fixed Income Securities
  • Investments
  • Portfolio Management
  • International Financial Management & Banking
  • Managerial Finance
  • Options & Futures Markets
  • Applied Equity Investment Management
  • Mergers and Acquisitions
  • Risk Management
  • Derivative Markets and Securities

Top Online Finance Degree

Earning a degree in finance, online or on-site, will provide students with an array of programs to choose from.  The most common types of degree programs available to finance majors is the bachelor’s degree, master’s degree, and doctorate degree program.

Students may elect to add a second major (double major) to their studies or couple finance with another area of concentration like economics, business management, or logistics depending on what is available from the school.  Below you will find an overview of online finance degree programs to help you further research quality, accredited programs that are best for you.

Online Bachelor’s Degree in Finance

A bachelor’s degree in finance is designed to be a 4-year program that provide students with a mix of core finance classes and general education courses.  General education classes such as sociology, English, psychology, and philosophy are included to assist students to think differently and more holistically about the world around them.

Depending on the school’s curricular design, a finance degree can be offered as a Bachelor’s of Arts (BA) and/or a Bachelor’s of Science (BS) degree.  The different finance degree options will be listed in the course catalogue for you to review in advance.

Core classes you may find in an online finance degree program may include introductory and advanced finance concepts.  Examples of finance classes include: macroeconomics, personal financial management, banking and investments, fixed income markets, financial markets, theory of probability, financial accounting, capital markets, game theory, and financial analysis.

Specializations in finance may be available in select universities.  Electives clustered in a specific financial domain are designed to help students better understand specific areas of financial markets.  Academic specializations can include programs such as real estate, mortgage lending, actuarial science, quantitative finance, investment management, wealth management, international finance, insurance, or financial management.

Online Master’s Degree in Finance

Earning an online master’s in finance can be found in a variety of ways.  Universities may list a master's in finance as an:

  • Master’s of Business Administration - MBA 
  • Master of Science in Finance - MS 
  • Master of Arts in Finance - MA  

Each degree track will emphasize varying aspects of finance.  In most cases, students will learn about vital aspects of high-level finance such as market behavior, internal rates of return, financial instrument valuation, financial intermediaries, financial markets, incentives in the market, economic forces, and political impacts in finance.

By leveraging the theory and practice of banking, investments, and financial engineering, students will be exposed to a mix of academic knowledge and real-world case studies to prepare them for life in the marketplace.  Expect MBA programs to last one to two years after all lower level classes are completed.

Online Doctorate Degree in Finance

Online doctorate degrees in finance are PhD programs specifically built to adequately prepare students for research and teaching opportunities.  Graduate students in a PhD program will typically go on to teach in higher education or perform financial research for private businesses, government agencies, think tanks, or various educational centers.

Doctorate degrees are terminal degrees in academia given the fact that there are no additional graduate degrees beyond it.  Students in the finance track for a PhD will learn how to analyze research in finance, identify market opportunities, conduct financial research, and communication findings to stakeholders.

This program will take 3-5 years to complete after meeting all prerequisites and passing the qualifying examination.  The program will end after the successful completion of the school’s capstone course and dissertation.  The dissertation will involve picking an organic topic in finance followed by a series of research, planning, testing, and writing before defending the paper to a dissertation committee.

Why Earn a Finance Degree Online?

Higher education institutions of all sizes have been rapidly adding online degree programs in finance in the last decade.  The value, cost, and flexibility mesh well with the demand from employers for well-trained financial specialists.  The evolution of distance learning programs will only continue and give students myriad programs to choose.  The most popular reasons students choose to earn a finance degree online include the following factors.

Overall Cost

The net cost associated with earning an online finance degree can be less than a campus-based program for a few reasons.

  1. Online finance degrees allow student to continue working while earning a degree.  Opportunity cost is maximized as wages are not sacrificed while working towards a degree.
  2. Distance learning programs are available to students remotely and do not require on-campus housing.  Saving on room and board can be a substantial piece of the overall cost of education in college.
  3. Nationally and regionally accredited online finance programs provide students with the ability to qualify for federal and state financial aid.
Access & Flexibility

Enrolling in an online finance course allows for immediate access and ultimate flexibility.  Students can jump online with an internet connected device and complete requisite assignments at any time.  Without traditional restrictions of a physical class, students can work school into an existing schedule instead of the reverse.

Accreditation

A large percentage of top ranked colleges and universities are rolling out online classes that parallel existing courses.  Providing quality, accredited courses in finance online provides value and piece of mind.  Accreditation can only be earned and maintained by ensuring quality curriculum is in place that conforms with published school procedures and processes.

Curriculum

Online finance degrees are on par with campus-based degree programs.  Coupling the surveys performed of recent college graduates and independent third-parties, the  conclusion is clear.  Online finance classes can feel much like a traditional class with published homework, exams, tests, and class syllabus.

Pace

Online finance degree programs may be self-paced allowing students to move as fast or as slow as needed.  Asynchronous learning environments allow students to move as quick as possible without matching the pace of an instructor.  Likewise, starting school can be much more flexible online than on-campus.  In fact, you may be able to start class on a rolling basis throughout an academic year instead of a limited interval.

Online Schools Other Students Requested Information From:

Employment Outlook and Finance Careers

A degree in finance is similar to other business related degrees in that there is no one career path attached to the degree. Many of these degrees cover much of the same ground in terms of business, what differentiates the degrees is on what facet the emphasis is placed.

Thus it is important to note that a degree in finance does not limit one to a particular group of jobs, and recent graduates entering the workforce would do well to broaden their job search. As a cross between business and accounting, finance degree holders may pursue careers in either field, with those having pursued higher levels of education capable of pursuing managerial positions with relative ease. As mentioned earlier, certified individuals will be in much higher demand.

Those seeking a career in finance have a variety of options available to them. To increase desirability and pay, it is wise to pass the exam to become a Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Chartered Financial Analyst (CFA), depending on which field one is planning a career in. Individuals starting their own business as financial managers or advisors in particular should consider certification as a method for bolstering client confidence in one's abilities.

Why Get a Finance Certification?

Obtaining certification is important for obtaining and maintaining a career. Individuals who do not pursue some form of certification early in their career tend to be pigeonholed into mid-level positions with little opportunity for promotion. Certification demonstrates a certain skill set and professional dedication.

Individuals with certification are in higher demand and command a premium in regards to salary.  Some businesses actively support individuals in pursuing certification, paying for courses and study materials as well as the exam. This is due to the demand for qualified professionals in the field of finance, so much so that businesses cover the substantially expensive costs in order to have one in house.

How Much Do Finance Majors Make?

Finance degree salary and compensation results will depend on a number of factors after graduating from college. Your income will be proportional to your effort, professional network, geographic location, industry, employment demand, skills, organization type, and education level. The data below has been culled from the U.S. Department of Labor and the BLS to help you understand the possible ranges of income within the finance sector.

Financial Managers: The median annual income of a financial manager is $121,750 with an expected growth rate of 7% in the coming decade which will add some 37,700 jobs during this time.

Financial Analysts: The median annual for a financial analyst is currently at $81,760. The industry is set to grow by over 33,000 jobs in the next ten years which translates to a seven percent growth rate for financial analysts.

Personal Financial Advisors: Personal financial advisors make an average of $90,530 on a national basis with the top 25% making $160,490 and the bottom 25% surveyed making $57,460. The employment growth for personal financial advisors is expected to rocket 30% in the coming decade which is over five times the national average growth rate of jobs during this time.

Financial Examiners: The median annual income for a financial examiner is $79,280 with a brisk 10% growth rate expected which should add nearly four-thousand addition jobs in the coming ten years.

Budget Analysts: The mean annual income for a trained, experienced budget analyst is $73,840 with a stable employment forecast for the coming ten year reporting period.

Cost Estimators: The job outlook for a cost estimator is bright. In fact, the anticipated growth rate is nine percent with an annual income average of approximately $62,000 based on the latest national survey.

Real Estate Appraisers: The annual median income for real estate appraisers is $51,850 with the top 25% averaging $73,080 and the bottom 25% making just under thirty-eight thousand dollars a year. Jobs should grow at an 8% clip in the coming decade adding around 7,000 jobs during that time.

Finance Major Salary Overview

The average wage of an individual with a degree in finance varies based on education level, experience and position. Financial managers, for example, average about $99,000 per year, with entry level positions starting around $70,000 per year. Job growth is expected to be high in this field as markets grow and more financial experts are needed.

Additionally, individuals who have obtained one of the various certifications can expect to earn more than those lacking certification, often the bump in pay is quite large and obtained immediately after passing the exam if they are not already gainfully employed.

Additional Resources for Finance Majors

Those interested in a degree in finance may also want to consider a degree in international business, economics, and accounting.  For additional information on a career path in finance and financial planning, visit our Definitive Career Guide for a Financial Planner on our blog.  More resources can be found by researching the American Finance Association (AFA) or the Association for Financial Professionals (AFP).

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