Best Programs for Online Finance Degrees

Finding Strong Online Finance Programs

Online finance programs are offered by institutions of all sizes, including junior colleges, state schools, private institutions and for-profit colleges. With so much competition, it is important for students to be able to recognize a quality program. Fortunately, there are several ways to identify opportunities that meet or exceed expectations.

Accreditation

Accreditation is an important credential to look for when picking a university or college, as well as when choosing a specific degree program. Accreditation is a sign that the institution meets or exceeds standards for its faculty, curriculum and student services. The U.S. Department of Education recognizes six regional accrediting bodies for the accreditation of colleges and universities. In addition there are accrediting agencies that recognize the quality and legitimacy of specific degree programs within each institution.

Internships

Internships are extremely important in an online finance degree program. Students should choose a college or university with a strong reputation for its internship program. Ideally, students should be able to land a quality internship within their specialty area, as it can be greatly improve the chances of securing employment after graduation. Because quality entry-level jobs in finance are limited, employment at top firms can depend on a successful internship within an organization.

However, firms set their own requirements for internships. Some may be open to all college students from a wide range of majors while others are limited to upperclassmen pursuing finance or business-related degrees. In some cases internships are taken by bachelor’s degree-holders hoping to find a full-time position in the highly competitive job market. The best way to qualify for an internship is to maintain a high GPA and accrue specialized skills in communications and technology that set candidates apart from the competition.

Resources

Quality institutions should have the resources in their distance-learning program to help them shine among the competition. For example, in any online program, virtual tools are essential. A reputable program should utilize advanced communication technology and provide 24/7 access to comprehensive online materials.

In addition, students should have support for navigating the online program, such as an online academic counselor to guide them along the way. In addition, a finance program benefits from a credentialed faculty with experience teaching in a distance learning program. With the high level of competition for jobs in the financial sector after graduation, students should also be given the opportunity to declare a specialization area so they can delve deeper into an area of interest and become more attractive to potential employers.

Certification in the Finance Sector

There are a number of professional organizations in business and finance with reputable certification programs. The following is a list of finance-related certifications that are well-recognized in the finance and business professions:

Chartered Financial Analyst (CFA): One of the most respected credentials in the world of finance is the Chartered Financial Analyst credential, awarded by the CFA Institute and analogous to the CPA designation in accounting. To earn the CFA credential, candidates must satisfy a number of job requirements and pass a series of examinations. Exam content includes academic theory, industry practice and ethical and professional standards.

Certified Financial Consultant (CFC): The Institute of Financial Consultants administers the CFC certification. To qualify, candidates must show proficiency in areas such as financial reporting and analysis, investment management, corporate finance, and risk management by watching a series of videos, studying lecture notes and completing a tutor assessment and exam.

Certified Financial Planner (CFP): In order to become a CFP under the Certified Financial Board, candidates must complete a comprehensive course of study at an approved college or university, spend several years employed in the industry, and pass the CFP Certification Exam.

Certified Credit Counselor (CCC): The National Association of Certified Credit Counselors awards the CCC credential to candidates who pass a comprehensive exam based on debt collection, the psychology of spending, debt resolution, ethics, consumer resources, and consumer protection legislation.

Finance Degree Search Tool

Whether considering an associate or doctoral degree, online programs in finance cover the whole spectrum of degree levels and offer varied concentration areas. Online programs in finance have been established for a number of years, giving students many choices when selecting a school. Some rise above the competition by providing flexibility for working students, real-world internship experience, and great value for cost. The search tool below allows students to search potential schools by factors most important to their individual needs.

A Student’s Guide to Online Finance Degree Programs

The Online Finance Degree Timeline

Students enter the field of finance from different points, based on different career and educational paths. For this reason, it’s important to examine the full spectrum of online finance degrees, from the introductory associate credential to the terminal doctorate option. The following timeline looks at the higher educational journey in its totality, providing a detailed rundown of each step.

Online Associate Degree in Finance (2 Years)

An Associate of Science in Finance degree program helps students develop the basic knowledge and skills to pursue an entry-level finance career. Along with the general requirements common to all associate degrees, a finance program provides an introduction to areas such as corporate finance, business law and ethics, investment principles, credit analysis and more. These courses also build a foundation so that students who plan to move on to a bachelor’s degree can explore the subjects on a deeper level later on. Students who want to transfer to a four-year program should meet with academic advisors at both schools as soon as possible to ensure they meet all requirements for a successful transfer experience.

Not all students will go on to a four-year program. For these students, some schools offer an Associate of Applied Science in Finance, which is a more occupation-oriented program. It combines a broad general education with core skill-based courses which prepare students to enter the workforce directly after graduation in positions such as bookkeepers, credit officers and loan processors.

Online Bachelor’s Degree in Finance (4 Years)

An online bachelor’s degree in finance is a basic requirement for pursuing a successful career in the field. It expands upon the core elements introduced at the two-year level, delving deeper into critical concepts necessary for individuals following a professional career path. An online undergraduate degree in finance is one of the most popular programs offered in a distance learning program. It typically requires 120 credit hours over four years of study, although many schools offer accelerated programs as well. Finance is a highly regulated industry and it is important to understand the rules and regulations. For example, in 2013, the Financial Industry Regulatory Authority (FINRA) brought 1,535 disciplinary actions against registered brokers and firms. (FINRA.com) Some of the key courses included in an online finance degree program during years three and four include:

Principles of accounting: Focuses on the fundamentals of financial analysis through the use of statements found in government, business and organizations. Students learn the skills needed to make efficient financial decisions.

Principles of economics: Covers the basics of macroeconomics and microeconomics. Macroeconomics delves into large economic issues like inflation and interest rates, while microeconomics deals with individual economics issues such as supply and demand and consumer choice.

Investment fundamentals and security analysis: Identifies ways to make investment decisions through the understanding of securities and concepts of valuation. The course also examines the mechanics and costs of trading.

Money and banking: Focuses on the global financial system and the role of financial services companies in money and capital markets. It also explores a variety of specific topics such as the U.S. banking systems, investments, credit and credit extensions.

International financial management: Provides an overview of the evolution of the international monetary system. The class also discusses specific issues facing international business firms and banks including foreign exchange markets, rate determination, foreign currency, and international debt and equity markets.

Other primary courses:

• Business law
• Cost accounting
• Fixed income securities
• Managerial accounting
• Organizational management
• Statistics

Online Doctorate in Finance – (2-5 Years)

An online doctorate in finance program provides students with a solid foundation in modern finance and the theoretical and empirical tools to prepare them for research and teaching careers in academia. With a PhD in finance it is also possible to pursue a high-level management career as a CEO or CFO in a government or corporate setting. The path towards a doctorate in finance usually encompasses a thorough study of areas such as asset pricing and portfolio management, corporate finance, international finance and macroeconomics. To qualify for a doctoral program, candidates must have completed comprehensive training in economics, mathematics, engineering and statistics from an accredited undergraduate institution.

Students must complete a rigorous curriculum to earn an online doctorate in finance. The requirements can include a combination of in-depth coursework in economics, statistics, a number of exams, and several research papers. In addition, many Ph.D. programs have research and teaching fellowship components, unpaid assistant positions for course credit. Finally, students are required to research, write and defend a dissertation.

Online doctoral programs may substitute fellowships with several residency requirements throughout the coursework that last a few days to up to a week or more. During these experiences, students develop the subject matter knowledge and research skills -- such as planning, methodology and design, data collection and analysis -- which are necessary to write a dissertation. Residency requirements can vary widely, so it is important to learn about what is expected from different college and university programs before making a decision to enroll.