Master's in finance programs provide advanced business knowledge. Master's degree-holders may work as budget analysts, financial analysts, or financial advisors. Some degree-seekers pursue a master's in finance to qualify for high-level careers such as financial analyst, controller, or director.
Master's in finance programs consider applicants with strong GPAs and relevant bachelor's degrees or financial experience. Most programs cover econometrics and financial reporting. Possible electives and concentrations include corporate finance, investment management, and government finance.
This page lists the best master's in finance programs. Read on to learn about costs, common classes, and potential jobs for graduates.
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Frequently Asked Questions About Finance Degrees
What can you do with a master's in finance?
Many graduates work as banking or investment professionals. Others work in government or nonprofit finance.
What is the salary for a master's in finance?
Master's in finance graduates earn an average annual salary of $81,000, according to Feb. 2022 Payscale data.
What finance jobs pay the most?
Financial managers earn a median annual salary of $134,180, according to the Bureau of Labor Statistics (BLS). The top-earning 10% of these managers make over $208,000.
Why Get a Finance Degree?
Earning a master's degree in finance builds in-demand skills in financial strategy, risk management, and financial innovation. Companies need professionals who can use machine learning and big data to make financial decisions. Graduate-level finance programs provide valuable specialization for certain fields, roles, and industries.
Many online finance master's programs run asynchronously. Learners can complete coursework around their schedules.
How Much Does a Finance Degree Cost?
Master's degrees cost an average of $66,340, according to EducationData.org. Many factors influence cost, including school type and learners' residency status. For example, master's degrees at private universities cost an average of $26,000 more than they do at public schools.
Master's programs usually require at least four semesters. Traditional programs require about two years to finish. Accelerated programs help students finish in 12-15 months by featuring shorter terms throughout the year. Most master's in finance programs include a capstone project, which may involve summer work.
Additional Online Student Fees
Online learners save money on commuting and residency costs. They also usually pay fewer university fees. However, online learners must still buy books and supplies. Some online master's programs require some campus visits. These visits may create travel and lodging expenses for out-of-state learners.
Other costs may include technology and graduation fees. Students may need to upgrade their internet or buy a new laptop. Depending on their desired career, graduates may need to budget for professional exams and licenses.
How Much Do Finance Majors Make?
Graduates with a master's degree in finance can pursue many high-paying business and financial jobs. These professionals earn a median annual salary of $72,250. The BLS projects jobs for business and financial professionals to grow 8% from 2020-2030.
Earning a finance master's degree can boost graduates' earning potential. Master's graduates may work as finance managers or finance directors. These professionals earn more than double the median annual salary of $41,950 for all occupations.
Courses for a Master's in Finance
A master's degree in finance typically requires 30-33 credits. Enrollees develop skills in data analysis, financial valuation, and econometrics. They also build communication skills that help them negotiate contracts and work on financial teams.
Most graduate programs encourage specialization and offer concentrations. Options may include risk management or investments. See below for three common classes in master's in finance programs. Keep in mind that classes vary by program.
Qualitative Research Methods for Finance
This class covers statistical and data analysis techniques that financial professionals use for portfolio management and financial forecasting. Coursework helps prepare students for graduate-level study, including master's thesis or dissertation research. Learners use their prior statistics education in this class.Financial Law and Ethics
Enrollees study financial regulation-setting entities such as the Financial Industry Regulatory Authority and the Securities and Exchange Commission. Students take classes in financial law, ethics, and policy. They study fiduciary responsibility, regulatory compliance, and contemporary ethical issues in financial practice.Corporate Finance
Students pursuing concentrations and careers in corporate finance usually take this class as part of their core requirements. Learners develop skills for financial valuation, reporting, and financial data analysis. Enrollees also learn about financial policies, regulations, and decision-making.
Featured Online MBA Programs
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Career and Salary Outlook for Finance Majors
Professionals with a master's in finance degree may work in various industries. Many work for the government or nonprofits. Others work in banking and investments. Graduates may work as accountants, financial analysts, or financial managers. See below for some potential careers for master's in finance degree-holders.
Accountants and Auditors
These professionals analyze financial data and prepare financial statements, including tax-related documents. Companies may hire accountants and auditors to ensure compliance, analyze risks, and provide business advice to individuals or organizations. Accountants need CPA licensure.Financial Analysts
These analysts examine and evaluate financial data to help companies assess value and make financial decisions. Financial analysts prepare written reports, research economic trends, and provide investment advice. They often specialize in specific industries, regions, or product types.Financial Managers
These managers oversee financial health and supervise financial personnel. This career involves financial reporting, goal setting, and consulting with company executives. Financial managers analyze market trends and prepare financial forecasts and budgets. They often specialize in a sector or industry area.
| Median Annual Salary | Projected Growth Rate (2020-2030) | Description |
|---|---|---|
| Accountants and Auditors | $73,560 | 7% |
| Financial Analysts | $83,660 | 6% |
| Financial Managers | $134,180 | 17% |
Source: BLS
Best Master's in Finance Degree
Featured Online MBA Finance Programs
Find a program that meets your affordability, flexibility, and education needs through an accredited, online school.
