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What Can I Expect from an Online Master’s in Finance Program?
Online programs for earning a master’s in finance offer the same academic quality as on-campus programs in a more flexible format, making it easier for students to balance work and family commitments with their education. Remember that when you research online master’s programs in finance, finding one that aligns with your specific career goals is essential.
Available concentrations
If you’re only interested in a particular aspect of finance, look for programs that allow you to focus on that area of study. Some of the most popular concentration options for a master’s in finance include:
Corporate Finance: Explore topics such as financial statements, capital markets, financial modeling, credit analysis, and advanced valuation.
Economics: Learn about economic theories and how economics guides and influences professions within finance. This concentration typically covers econometrics, financial forecasting, macroeconomics, statistics, and monetary economics.
Financial Markets: Take classes in financial market dynamics, financial engineering, and strategic finance. Students will likely learn other topics, including securities, derivatives, and asset management. The overall goal of this concentration is to discover the role that markets play within the finance industry.
International Finance: Students who want their career to focus on global finance and international investments should consider this concentration. Some programs may require you to demonstrate proficiency with a foreign language, but this is not always necessary. You will learn about international finance, corporate finance, and the management of financial institutions.
Risk Management: Gain skills to help companies minimize their financial losses by reducing risk exposure. The topics covered in this concentration may include insurance regulation, risk-related public policy initiatives, and global risk management.
Investments and Portfolio Management: Study the investment process and how to create and manage investment portfolios with varying levels of risk. The topics explored include the valuation of financial assets, risk management, and the pricing model for capital assets and derivatives.
Common degree curriculum
While the individual classes you take are going to depend on the program you enroll in and your chosen area of concentration, some courses are included in almost all online master’s in finance programs, such as:
Financial Economics: Provides an introduction to financial economics, including fundamental theories and practices. Students learn how finance and economics both influence public and private-sector organizations. Topics typically include microeconomics, macroeconomics, financial market analysis, and quantitative methods.
Financial Reporting and Analysis: Students learn how to analyze an organization’s previous financial performance to help them make sound financial decisions in the future. This course covers economics, finance, accounting, and business strategy concepts.
Corporate Valuation: Explores concepts related to corporate valuation, including mergers and acquisitions, security analysis, forecasting performance, and divestitures. Students discover how to determine the value of a business.
Financial Modeling: In this course, students learn to use spreadsheets and statistics to analyze financial decisions and their potential impacts. This course is necessary for students interested in becoming financial analysts.
Mergers, Acquisitions, and Restructuring: Provides an overview of how corporate control transactions (the buying and selling of businesses) occur. The topics explored in this course include buyout transactions, takeovers, corporate spin-offs, hostile bids, inside trading in takeovers, corporate downsizing, and the relationship between takeovers and capital structure changes.
Program accreditation
Only apply to schools approved by a DOE-recognized regional accrediting organization, such as the New England Commission of Higher Education or Northwest Commission on Colleges and Universities. If your school doesn’t have regional accreditation, you may be unable to access financial aid or transfer credits to another institution if needed.
The length of time required to complete an online master’s in finance degree is dependent upon several factors, including the program type, school, and chosen area of concentration. Most students taking classes full-time can complete an online master’s in finance in two years or less. Schools with a fast-track program, which typically offers courses at an accelerated pace, could put the degree in your hand in as little as 14 months. Most online master’s in finance programs require about 30 to 36 credits to complete.
Employment Outlook for Master’s in Finance Graduates
With strong projected job growth and high average salaries, finance is one of the most sensible career paths available.
Over the next decade, the Bureau of Labor Statistics expects the total number of jobs in the country to grow at a rate of 3%. Finance occupations will likely grow much faster than that — several of these are even projected to grow at a double-digit rate.
Also, most jobs in finance offer salaries of over $90,000. With a master’s degree and some experience, you may be able to access even higher-paying opportunities. For example, the top 10% of financial managers make over $239,200 annually.
Financial managers create financial reports, perform long-term financial planning, and help direct investment activities for the companies they work for. Before taking on this role, most financial managers begin their careers as accountants, financial analysts, or auditors.
Financial analysts are tasked with advising individuals and businesses about investment decisions. They analyze how bonds, stocks, and other types of investments perform in the market.
Personal financial advisors advise individuals about various issues, including investments, estate planning, taxes, insurance, mortgages, and retirement. In general, they help people manage their finances more effectively.
Actuaries help their employers analyze risk and uncertainty. They use a combination of statistics and financial theory to assess the risk of potential events and, in turn, help companies and clients develop insurance policies or protocols that minimize the cost of that risk.
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Professional organizations
Professional organizations are excellent for networking opportunities and obtaining resources and support. For students, they offer a great entry point for learning about their chosen career path. Below are some professional organizations in the finance world that host conferences and networking events, provide online training, and have active job boards.
American Finance Association: The AFA is the leading academic organization in financial economics. It has a regular flagship publication, the Journal of Finance, has been in circulation since 1946. It also hosts an annual conference for financial professionals and offers an affordable, low-cost membership.
International Financial Management Association: The IFMA is a global organization that offers professional financial certification in five niche areas: management accounting, investment and law, investment banking, internet finance, and credit analysis and management. It also has an online career center with links to professional development opportunities and a job board.
National Association of Personal Financial Advisors: Founded in 1983, NAPFA is now the largest professional organization for personal financial advisors. Their website provides resources such as video tutorials and information about scholarships.
Financing Your Online Master’s in Finance Degree
While it’s true that pursuing an online master’s degree is usually less expensive than taking on-campus classes, many students still need financial aid to help them pay for the cost of tuition.
Filling out the Free Application for Federal Student Aid (FAFSA) is an excellent first step — this will provide you with information about grants, scholarships, loans, and other forms of financial aid the federal government provides. In addition, you may be qualified for scholarships through the schools you’re applying to. Many nonprofit organizations and private companies also offer scholarship programs.
Student Finance Resources and Guides
With all the different financial aid options available, it can be hard to figure out your next steps after submitting the FAFSA. The following resources will help you make sense of your situation and save as much money as possible.
Learn more about online degrees, their start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
