Best Online Master’s in Finance Degrees
A master’s in finance was one of the first online degrees available to students, and today the offerings have expanded to include an impressive number of the most respected colleges and universities. How does an aspiring student determine which school is the best fit? One way is to look at reputable rankings that take into account the finer points of online finance master’s degrees below.
| Rank | University Name | Score | Net Price | Financial aid percent | Online Programs Aavailable | Student-Teacher Ratio | Grad Rate | University Information | Credit for Experience | Placement Services | Counseling Services |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Harvard University | Score99.78 | Net Price |
Financial aid %56% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate97% | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 2 | New England College | Score98.80 | Net Price |
Financial aid %78% |
#Online programs2 |
Student-Teacher Ratio
|
Grad Rate43% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 3 | Freed-Hardeman University | Score97.62 | Net Price |
Financial aid %100% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate54% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 4 | Webster University | Score97.37 | Net Price |
Financial aid %94% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate64% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 5 | University of Saint Mary | Score97.31 | Net Price |
Financial aid %99% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate37% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 6 | Brenau University | Score97.04 | Net Price |
Financial aid %98% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate45% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 7 | Southern New Hampshire University | Score97.01 | Net Price |
Financial aid %71% |
#Online programs2 |
Student-Teacher Ratio
|
Grad Rate59% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 8 | Tiffin University | Score96.52 | Net Price |
Financial aid %92% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate33% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 9 | Utica College | Score96.44 | Net Price |
Financial aid %96% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate47% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 10 | Baker College Center for Graduate Studies | Score96.12 | Net Price |
Financial aid %72% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate25% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 11 | Marywood University | Score95.95 | Net Price |
Financial aid %99% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate68% | Credit for ExperienceYes | Placement ServicesNo | Counseling ServicesYes | Read More Read Less |
| 12 | University of the Southwest | Score95.80 | Net Price |
Financial aid %98% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate22% | Credit for ExperienceNo | Placement ServicesNo | Counseling ServicesYes | Read More Read Less |
| 13 | Northern State University | Score95.78 | Net Price |
Financial aid %67% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate46% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 14 | Southern Adventist University | Score95.55 | Net Price |
Financial aid %97% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate58% | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 15 | Kansas State University | Score95.47 | Net Price |
Financial aid %65% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate58% | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 16 | California Lutheran University | Score94.72 | Net Price |
Financial aid %96% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate60% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 17 | Charleston Southern University | Score94.63 | Net Price |
Financial aid %97% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate38% | Credit for ExperienceNo | Placement ServicesNo | Counseling ServicesYes | Read More Read Less |
| 18 | Bentley University | Score94.51 | Net Price |
Financial aid %65% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate84% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 19 | Northeastern University | Score94.49 | Net Price |
Financial aid %69% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate79% | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 20 | Metropolitan College of New York | Score94.04 | Net Price |
Financial aid %82% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate22% | Credit for ExperienceYes | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 21 | Lehigh University | Score93.87 | Net Price |
Financial aid %49% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate88% | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 22 | National University | Score93.59 | Net Price |
Financial aid %1% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate23% | Credit for ExperienceYes | Placement ServicesNo | Counseling ServicesYes | Read More Read Less |
| 23 | Boston University | Score93.16 | Net Price |
Financial aid %51% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate84% | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 24 | Golden Gate University-San Francisco | Score93.02 | Net Price |
Financial aid %N/A |
#Online programs2 |
Student-Teacher Ratio
|
Grad RateN/A | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 25 | University of Houston-Clear Lake | Score90.69 | Net Price |
Financial aid %N/A |
#Online programs1 |
Student-Teacher Ratio
|
Grad RateN/A | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 26 | University of Maryland-University College | Score89.50 | Net Price |
Financial aid %3% |
#Online programs1 |
Student-Teacher Ratio
|
Grad Rate4% | Credit for ExperienceYes | Placement ServicesNo | Counseling ServicesYes | Read More Read Less |
| 27 | Walsh College of Accountancy and Business Administration | Score89.15 | Net Price |
Financial aid %N/A |
#Online programs1 |
Student-Teacher Ratio
|
Grad RateN/A | Credit for ExperienceNo | Placement ServicesYes | Counseling ServicesYes | Read More Read Less |
| 28 | Colorado State University-Global Campus | Score86.73 | Net Price |
Financial aid %N/A |
#Online programs1 |
Student-Teacher Ratio
|
Grad RateN/A | Credit for ExperienceYes | Placement ServicesNo | Counseling ServicesYes | Read More Read Less |
Timeline of an Online Master’s in Finance
Getting in: The Application Process
Applying to master’s-level finance programs can be incredibly competitive, especially for top-tier schools. To help improve their chances of being accepted to their desired programs, students should start the admissions planning process well ahead of the intended start date. While each finance graduate school has unique admissions requirements, the list below provides a general overview of what students should expect to provide.
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GRE scores
While each school places a different weight on the GRE, it is obviously best to score as high as possible to have a good chance of getting accepted. It may be beneficial for prospective finance students to spend more time studying for the quantitative reasoning and analytical writing sections.
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Undergraduate performance
Finance graduate schools require students to hold a bachelor’s degree before the program start date, though having it in finance is not strictly necessary. Most schools also demand at least a B+ average or 3.0 GPA upon entry. Prospective students may also need to have passed certain prerequisite courses in finance, business, accounting or economics.
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Statement or personal essay
Writing samples not only display communication skills, but also demonstrate a candidate’s passion for the field. For a master’s in finance, schools often require more than one essay, with the first focusing on why the applicant is applying and the second asking about finance career prospects.
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Resume
A strong resume will highlight an applicant’s qualities as they pertain to a graduate finance degree. Prospective students should include any finance-related extracurricular activities they took part in during undergraduate studies (such as being treasurer of a student club).
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Letters of recommendation
Finance graduate schools typically call for three letters of recommendation, which should come from supervisors, colleagues, or former professors (ideally those who teach business, finance or economics).
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Interview
Interviews give finance schools one last impression of candidates to make sure they’re a good fit for their program. While just getting to this stage is impressive, students shouldn’t take the interview lightly, as it can make or break one’s chances of being accepted.
Year 1
The first year focuses on foundational knowledge of the finance industry. Students learn how to apply statistical models and quantitative methods to solve problems at a theoretical level. In addition to core courses, some electives are offered; students should focus on electives within their desired area of concentration. Examples of elective topics include market trading and risk analysis, financial modelling, and corporate financing. Often, schools offer a transitional program before classes start as a refresher to help students remember what they learned in their undergraduate years or to help them understand what is needed for the program.
Year 2
In their second year, students take classes almost exclusively within their finance specialization. As such, an investment planning student’s course load can look very different from that of a corporate management student. Students may also need to take a career development preparation course to help them garner employment opportunities. Finally, students will begin working toward their thesis, research project or an applied project.
Testing & Graduation Requirements
To be eligible for a master’s degree from an online financial master’s program, students should expect to complete at least some of the following before graduation:
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Research project
This project offers students a chance to apply what they learned in terms of financial theory. For example, students may be expected to draft a report on a chosen stock or commodity, which requires them to outline their chosen valuation methodology, put forward an investment thesis, and provide final recommendations. These findings are often presented in a way that mimics an actual financial presentation for a financially oriented company.
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Applied project
This project has students apply their knowledge of the financial sector to the real world by taking on an assignment from a finance company or other organization which needs financial consulting.
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Internship
Internships give students an opportunity to translate classroom knowledge into practical experience. Academic advisors can help students find internships of interest. Possible options include interning at a bank’s financial advisement division, a real estate firm or even a non-profit organization.
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Master’s thesis
The thesis represents the culmination of knowledge and experience gained over the course of the master’s program. It features a report or presentation that includes original research and theories in the field of finance. Depending on the school, this may be optional or substituted with a practical internship.
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Comprehensive exam
This examination tests a student’s overall knowledge of finance theory and applications, including specific questions about the student’s chosen finance specialization. Written exams are most common, but some schools also require an oral examination.
Career Paths & Salary Possibilities with a Master’s in Finance
An online master’s in finance broadens the horizons of anyone working in the regulatory, business or investment subsectors of the finance world. In fact, there are numerous jobs available to professionals who have a master’s degree and the right kind of experience. Below are some of the most popular concentrations in finance for master’s degree students and the careers they may lead to.
ConcentrationsAdvisory – Institutional
For people who want to work for government offices in the regulatory sector, this concentration offers the knowledge required to do so. Courses cover topics such as capital management, international business finance, import-export financing and theory, financial forecasting and budgeting, business valuation, and mergers and acquisitions.
An important asset in ensuring that banks and corporations adhere to government regulations, financial examiners are charged with reviewing balance sheets, evaluating risk levels of loans and assessing bank management. They also help protect the public from predatory lending practices.
Employed by banks, companies, pension funds, insurance companies and others to help choose the best investments, financial analysts anticipate market and stock trends by keeping an eye on ever-changing government regulations and international politics.
Able to work in a variety of sectors, treasurers are appointed to administer or manage the financial assets and liabilities of companies, governments or any other groups who need to have their funds looked after.
Responsible for ensuring the financial health of an organization — whether it is a government, NGO, corporation or small business — financial managers draft comprehensive financial reports, lead investment activities and offer long-term financial planning strategies.
Advisory – Insurance
This is the path for students wishing to become insurance brokers. The concentration offers instruction on topics such as the theoretical basis and principles of insurance, retirement and estate planning, business valuation, risk and liability management, professional ethics, and corporate compliance and regulation.
Experts at interpreting insurance regulations and determining the level of financial coverage, insurance specialists can gain employment in a variety of work environments, including medical and government offices, hospitals and laboratories. They can also work in billing and coding.
Responsible for ensuring the financial health of an organization — whether it is a government, NGO, corporation or small business — financial managers draft comprehensive financial reports, lead investment activities and offer long-term financial planning strategies.
Able to work in a variety of sectors, treasurers are appointed to administer or manage the financial assets and liabilities of companies, governments or any other groups who need to have their funds looked after.
Personal finance officers provide individuals with financial advice in order to help them make sound investments. They also help to ensure the proper submission of taxes and insurance documents. This career is often pursued by working at a bank, but many personal finance officers are self-employed.
Corporate Management
This concentration is a great option for individuals interested in a management position within the financial industry. Students take courses that prepare them to work in a corporate environment, and the curriculum includes subjects such as investment banking, management theory, corporate financial reporting and analysis, and strategic modelling.
Commercial bankers deal with financial management in any number of specific ways, such as accounting, risk and asset management, commodities brokering, and commercial real estate transactions.
Responsible for ensuring the financial health of an organization — whether it is a government, NGO, corporation or small business — financial managers draft comprehensive financial reports, lead investment activities and offer long-term financial planning strategies.
Employed by banks, companies, pension funds, insurance companies and others to help choose the best investments, financial analysts anticipate market and stock trends by keeping an eye on ever-changing government regulations and international politics.
Able to work in a variety of sectors, treasurers are appointed to administer or manage the financial assets and liabilities of companies, governments or any other groups who need to have their funds looked after.
Investment Planning
This concentration teaches students skills required for working in careers such as asset management, private wealth management, sales and trading. The concentration’s courses usually focus on using analytical and qualitative methods to create models of financial trends, allowing students to forecast and predict trends in the market, as well as helping them learn how to soundly invest in stocks and other assets.
Personal finance officers provide individuals with financial advice in order to help them make sound investments. They also help to ensure the proper submission of taxes and insurance documents. This career is often pursued by working at a bank, but many personal finance officers are self-employed.
These bankers work in financial institutions that focus primarily on raising capital for companies, governments or other private institutions, often by acting as the agent for a client in the underwriting or issuance of securities.
Able to work in a variety of sectors, treasurers are appointed to administer or manage the financial assets and liabilities of companies, governments or any other groups who need to have their funds looked after.
Stockbrokers are professionals who, in return for a fee or commission, buy and sell stocks and other securities on behalf of their clients, either through a stock exchange or informally. They may be self-employed or work for a brokerage firm or broker-dealer.
Employed by banks, companies, pension funds, insurance companies and others to help choose the best investments, financial analysts anticipate market and stock trends by keeping an eye on ever-changing government regulations and international politics.
Brokers make a living buying and selling bonds and commodities such as gold, wood and oil on the international market.
Real Estate
Financial professionals who wish to focus on the real estate market would do well to choose this concentration. It offers instruction on all things real estate, such as financing, valuation strategies, and property and market investment analysis.
Responsible for ensuring the financial health of an organization — whether it is a government, NGO, corporation or small business — financial managers draft comprehensive financial reports, lead investment activities and offer long-term financial planning strategies.
Experts at interpreting insurance regulations and determining the level of financial coverage, insurance specialists can gain employment in a variety of work environments, including medical and government offices, hospitals and laboratories. They can also work in billing and coding.
Personal finance officers provide individuals with financial advice in order to help them make sound investments. They also help to ensure the proper submission of taxes and insurance documents. This career is often pursued by working at a bank, but many personal finance officers are self-employed.
Students who complete an online master’s in finance program often do so for the job advancement opportunities and potential pay increase that come along with the higher degree. Graduates are certainly entering a seller’s market — a 2015 report from the Graduate Management Admission Council indicated that over 46 percent of employers planned to hire employees who held a master’s in finance. While entry-level positions in finance are still attainable with a bachelor’s degree, the Bureau of Labor Statistics notes that advanced positions typically require master’s degrees. But just how high is their salary potential? Financial examiners, who typically stop after the baccalaureate level, make $76,310 on average per year, while financial managers on an executive track make $115,320, according to 2014 statistics. Financial analysts have good earning potential as well:
Additional Resources & Links
People interested in finance and looking for like-minded individuals can find them at the following links, which are full of resources for their members, whether they are professionals or students:
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American Finance Association
A respected academic organization devoted to the study and promotion of knowledge about financial economics.
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Association for Accountants and Financial Professionals in Business (IMA)
An association that offers professional networking, mentoring, and other resources for professionals in the finance and accounting industry
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Association of Finance Professionals
An organization with worldwide membership, which offers career training and advisory services, produces publication and data management tools, hosts annual financial conferences, and offers various professional certifications.
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Financial Women’s Association
An organization that brings together high-achieving professionals from every sector of the financial world. FWA is dedicated to developing future leaders and enhancing the role of women in finance.
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Global Association of Risk Professionals
A globally recognized membership association for risk managers, GARP is a not-for-profit organization committed to creating a culture of risk awareness within organizations at every level.
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National Association of Insurance and Financial Advisors (NAIFA)
A professional organization and advocacy group that represents insurance and financial advisors nationwide and ensures that its members meet a high standard of business ethics.
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Society of Finance Professionals
An organization of over 11,000 financial planners that facilitates discussion groups, provides client education and support tools, and promotes networking skills and opportunities.