Online Master’s in Finance

What to expect from the Online Master’s in Finance?

A Master’s in Finance program offers a comprehensive curriculum to provide students with advanced financial analysis, investment management, and corporate finance knowledge and skills. They can choose a path that aligns with their academic and career goals with both thesis and non-thesis options. A typical online master’s in a finance degree program can expect 30 to 35 coursework credits, including core courses, electives, and sometimes a capstone. It is also not uncommon for some universities to insist on an internship as part of the program. Additionally, additional courses or specific courses will have to be taken depending on the individual’s specialization. The program typically requires a specified number of credits for completion, which can vary depending on the institution and the selected track. Courses cover various topics, including financial modeling, portfolio management, derivatives, and risk management. Modes of delivery for Master’s in Finance programs vary, with many institutions offering both on-campus and online options to accommodate diverse individuals’ needs and preferences. Online programs often feature asynchronous learning formats, allowing them to complete coursework at their own pace while balancing other commitments. Graduates are prepared for various career opportunities in the finance industry, including roles in investment banking, corporate finance, financial analysis, asset management, and consulting.

Curriculum and Coursework

The curriculum for a Master’s in Finance program typically includes a combination of core courses, elective courses, and possibly a capstone project or thesis. In both thesis and non-thesis tracks, students cover advanced topics in finance to develop a deep understanding of financial theory, analytical techniques, and practical applications.

In the non-thesis track, students may have more flexibility in choosing elective courses based on their interests and career goals. Elective courses may cover specialized topics such as Derivatives and Financial Engineering, Behavioral Finance, Financial Modeling, Real Estate Finance, or FinTech (Financial Technology). Those in the non-thesis track typically complete their degree requirements through coursework and exams without conducting independent research or writing a thesis.

In contrast, candidates in the thesis track must complete a research-based thesis under the guidance of a faculty advisor. The thesis allows them to delve deeper into a specific area of finance, conduct original research, and contribute new knowledge to the field. Thesis topics may vary widely depending on students’ interests and faculty expertise and involve empirical analysis, theoretical modeling, or case studies. The thesis track often provides a more rigorous academic experience and may be suitable for those interested in pursuing further research or academic careers.

Core courses in the curriculum often include Financial Analysis and Reporting, Investments and Portfolio Management, Corporate Finance, Financial Markets and Institutions, Quantitative Methods in Finance, Risk Management, and International Finance. These courses provide students with foundational knowledge and skills in critical areas of finance. Some of the typical courses they can come across in an online master’s in finance program include but are not limited to:

Financial Markets & Institutions

This course explores the structure and function of financial markets and institutions, including banks, stock exchanges, bond markets, and regulatory bodies. Students learn about the role of financial intermediaries, the impact of monetary policy, and the mechanisms of financial transactions. Topics may include market efficiency, risk management, and the globalization of financial markets.

Business Taxation

Business Taxation examines the principles and practices of taxation as they apply to businesses. Topics covered may include federal and state taxation laws, tax planning strategies, and the tax implications of various business decisions. Students learn to analyze tax codes, calculate tax liabilities, and make informed tax-related decisions in corporate finance.

Managerial Economics

Managerial Economics applies economic theory and analysis to business decision-making. Students learn to assess the economic environment, analyze demand and supply conditions, and evaluate pricing strategies. Topics may include cost analysis, production theory, market structures, and strategic decision-making in various industries.

Corporate Financial Theory

Corporate Financial Theory delves into the principles and concepts underlying corporate finance decisions. Students explore capital budgeting, cost of capital, dividend policy, and capital structure. The course emphasizes financial decision-making within the context of maximizing shareholder value and achieving long-term corporate goals.

Mathematics in Financial Economics

Mathematics in Financial Economics introduces mathematical techniques and tools in financial analysis and modeling. Students learn to apply mathematical concepts such as calculus, linear algebra, and probability theory to economic problems. Topics may include optimization, differential equations, stochastic processes, and risk modeling.

Some additional topics that students can expect to learn across the curriculum include:

In most cases, coursework will also contain mandatory electives that students can opt for. Some examples of electives include but are not limited to:

Learning Outcomes and Skills Gained

A master’s in finance degree delivers students a targeted education that keeps them updated on the ever-changing global economy. Those in this master’s program get a comprehensive and in-depth understanding of finance and financial markets. Quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, and portfolio management are among the skills that are focused on and emphasized. Moreover, a master’s degree in finance will make them eligible for various certifications required for specific professions and employers.

Graduates of an online master’s in finance are trained to handle transactions and develop strong analytical abilities and superior quantitative understanding to understand a client’s financial objectives. The financial services industry includes a variety of jobs that assist individuals and businesses in tracking, managing, and spending their money. Work can be found in banks, investment firms, government agencies, private companies, universities, credit unions, mortgage companies, non-banking financial institutions, insurance companies, start-ups, and more.

Upon graduating with an online master’s in finance degree, students would have acquired the following skills, including the ability to:

Types of Online Master’s in Finance

The Master of Finance, also sometimes referred to as M.Fin. has more than one way for students to pursue it online. In addition to various degree programs through which they can major in finance, most universities offer two standard degree options – the Master of Arts (MA) and the Master of Science (MS) degrees.

As an alternative, many schools offer a finance major or business degree with a concentration in finance. These include but are not limited to

Areas of Specialization for Online Master’s in Finance

Specializations help students dive even further into their career goals. They provide specialized knowledge and skills in a particular area of finance that can be used in targeted sectors of business and industry. Concentrations and specializations also significantly increase their earning potential and career prospects. Here are a few online Master’s  in finance specializations that candidates could opt for:

Some examples of other concentrations/specializations include:

Full-Time and Part-Time Programs

Like most other master’s degrees, a master’s in finance typically requires 12 to 24 months to complete, requiring at least 30 credits. However, several factors can either shorten or lengthen the duration of the program, such as the Master’s in finance syllabus, part-time or full-time study, coursework load, electives opted for, specialization, internships, projects or theses, mode of program delivery – offline, online, or hybrid, and credit transfers. Additionally, colleges offering year-round intakes (fall, spring, summer) can influence the timeline. Those who opt for accelerated or fast-track programs that present the opportunity to complete more classes in less time or sometimes combine a bachelor’s degree with a master’s degree usually reduce the time it takes to graduate. It is worth noting that part-timers will take longer to complete their programs, the permissible upper limit usually being five years, while full-timers can complete in 24 months or less.

Accelerated Online Master’s in Finance

Accelerated Master’s in finance online are growing in popularity by the day to save time and money and join the workforce as early as possible. Although most MS finance online degrees can be earned in less than two years, students who want to graduate quicker can opt for accelerated or fast-track finance degree masters. Some schools combine a bachelor’s in finance with a master’s in finance in 3+1 years or 4+1 years packages, while others provide the option to take on extra course loads and complete their master’s in finance degree in 1 year. Here are a few examples of one-year finance Master’s programs:

The University of Scranton – Master of Science in Finance ^[4]

The University of Scranton offers an MS in finance online program that does away with the requirement of a GMAT/GRE score and can be completed in 12 months. The program is AACSB accredited and prepares students for CFA certification.

The Seattle University – Master of Science in Finance ^[5]

The Seattle University, Albert School of Business and Economics, offers a Master of Science in Finance program in three tracks – financial analysis/investments, risk management, and corporate finance, with the ability to complete the degree in 1 year (full-time) or 2-years (part-time).

Florida International University – Master of Science in Finance ^[6]

Florida International University offers an online master of science in finance that prepares students for the CFA credential. They can also opt for a specialization in financial innovation. The degree program can be completed in 12 months.

Colorado State University – Master of Science in Finance ^[7]

Colorado State University offers a master of finance program that meets the federal definition of STEM (science, technology, engineering, and math) and emphasizes technical skills combined with options for science coursework. The program can be completed in 1 year, with the flexibility of up to 2 years.

Online Master’s in Finance Admission Requirements

The admission requirements for a master’s in finance degree program are the same as those for other master’s degrees. Students are generally required to have a bachelor’s degree in finance or another discipline closely related to finance or finance-related coursework. In instances where the applicant is not from a finance background, the program may require them to take up Master’s in finance prerequisites, such as Financial Accounting, Marketing, Business & Global Issues, Management Theory & Practices, Introduction to Statistics, Ethical Issues in Business, Survey of Economics, etc. Having work experience will improve the chances of admission and may also lower the cost of the master’s degree by way of fewer credits required. The list below contains most of the general admission requirements for an online Master’s  in finance degree program:

Note: Students are advised to check with the admissions office of their chosen college for exact and specific admission requirements, as they vary by college and program.

How to Ensure an Online Master’s in Finance Program Is Accredited

Accreditation is a critical component of the credibility of an institution. It is confirmation that the college meets and maintains set administrative support and policies, instructor hiring and evaluation, quality of programs, infrastructure, and curriculum requirements, which assures students and employers that the college or program is of value and reputation. Accreditation from one of the six major regional accrediting bodies recognized by the Council for Higher Education Accreditation (CHEA)^[8] and the U.S. Department of Education^[9] is essential for both legitimacy and transferability. The following are the six regional accrediting bodies:

Specialty accreditors, who analyze the same qualities as general accreditors but with a focus on the expert capabilities required of students, can also provide accreditation. They ensure that programs are well-rounded in business knowledge, that instructor standards are grounded in real-world experience, and that the curriculum is current. Furthermore, a specialist accredited degree signifies that the school meets subject-specific criteria specified by the business world, such as those set forth by the National Association of State Boards of Accountancy (NASBA) ^[10]. The following are the three most well-known CHEA-recognized specialty accreditors in the United States:

Online Master’s in Finance no GMAT Programs

Many universities do not require the Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE) tests to be taken or scores to be submitted when applying to a finance master’s program. However, applicants should examine if taking one of these exams and submitting test scores may help their candidacy. In some instances where test scores are usually required, they are waived off if the applicant has at least 3 to 5 years of work experience, another master’s degree, or a high Point Average (GPA). Here are a few examples of online Master’s in finance with no GMAT:

Ivy League Master’s in Finance

Admission requirements for a master’s degree program in most Ivy League schools are similar to non-ivy league ones. In general, students will have to fulfill and meet the following admissions requirements to be eligible to apply to an Ivy League Master’s  in finance degree program:

Although these requirements are the same as at many non-ivy League universities, the difference is that Ivy League schools usually only accept students with the highest test scores. Here are the approximate average test scores that they are expected to have to seek admission into an Ivy League program: 

Some colleges offering Ivy League Finance degrees include:

The University of Pennsylvania, The Wharton School ^[17]

The University of Pennsylvania’s Wharton School offers a Master of Business Administration (MBA) with a primary/specialization in finance. Courses in this program include descriptive, institutional, and historical aspects of the field, emphasizing the theory and methods of analysis that extensively use relevant techniques of economic analysis, mathematics, and statistics.

Harvard University, The Harvard Division of Continuing Education ^[18]

The Harvard Division of Continuing Education is a division of Harvard University dedicated to bringing rigorous programs and innovative online teaching capabilities to distance learners, working professionals, high school students, and those seeking higher learning in retirement. The Harvard Extension School offers a Finance Graduate Program that will culminate in earning a degree titled – Master of Liberal Arts (ALM) in Extension Studies, field: Finance.

Cornell University, SC Johnson College of Business ^[19]

Cornell University’s SC Johnson College of Business offers a Master’s in Business Administration (MBA) with a concentration in Corporate Finance. The program includes core accounting, finance, financial policy, and governance courses.

Columbia University, Columbia Business School ^[20]

Columbia University’s Columbia Business School Finance Division offers a Master of Science in Financial Economics, a two-year STEM-eligible master’s degree. The program provides academically distinguished and industry-oriented students the opportunity to obtain a rigorous, graduate-level finance acumen.

Yale University, Yale School of Management ^[21]

Yale University’s Yale School of Management offers a STEM-eligible Master of Management Studies (MMS) in Asset Management, with a deep understanding of applying data science and quantitative techniques to investment decisions that emphasize ethics, fiduciary responsibility, and investment performance.

Free Courses for Online Master’s in Finance

Free online Master’s in finance courses are available to students pursuing a master’s degree in finance who wish to learn more while keeping their educational costs low. Although many of these free courses do not lead to a certificate or culminate in a master’s degree in finance, they provide sufficient knowledge and information to widen their horizons and study beyond the textbook. Here are some free courses and classes:

Career Opportunities and Salaries for Online Master’s in Finance Graduates

Earning an online master’s degree in finance is, to a fair extent, a sure-shot way to maximize earning potential. Of course, graduates will be pushed to work hard and deliver and will have to constantly prove that they can perform – and perform under pressure, but those who do will reap well through high salaries, incentives, commissions, bonuses, stock options, and promotions.

Master’s in finance graduates can find work in various settings spanning large and small businesses, manufacturing units, start-ups, insurance companies, health-care organizations and hospitals, educational institutions, real-estate firms, non-profits, and more. Some job titles include but are not limited to:

Here is a list of a few examples of occupations in finance online master’s degree finance graduates can explore, and their salaries and growth potential, including: