People with finance degrees enjoy flexibility in their careers, whether they’re seeking jobs in banking, business, or any other industry that involves financial transactions. The median annual wage for graduates of finance degree programs was $76,850 in 2022, 40% higher than the median annual wage of $46,310.
Students in finance degree programs apply mathematical concepts and statistics to financial analysis, financial planning, accounting, risk management, and fiscal policy — all skills they’ll later use in various finance careers. The average cost of a four-year finance degree is $16,618, depending on the program and institution you choose. Many graduates go on to complete a postgraduate degree in finance, which can cost around $19,749 and take another one to two years.
How to Choose a Finance Degree Program
Choose your area of study
Because the scope of finance careers spans so many industries, your area of study depends on the career you have in mind. Finance students’ undergraduate degrees include an Associate of Science (AS) and a Bachelor of Science (BS) in finance. For postgraduate degrees, choose between a Master of Finance (MFin), a Master of Science in Finance (MSF), or a Master of Business Administration (MBA) with a concentration in finance.
- An AS in finance covers the basics of finance. It takes two years to earn and prepares students for careers as bookkeepers, credit analysts, accounting clerks, mortgage brokers, or loan officers.
- Graduates of four-year BS programs learn more about financial analysis and risk management for careers as financial planners, real estate agents, actuaries, insurance agents, and accountants.
- An MFin or MS in finance are strong options for students who prefer finance-specific courses or careers based on advanced mathematic principles.
- An MBA in finance provides students with more coursework on business and management principles for flexible careers within the business world.
Consider professional certifications when you choose your area of study. Many graduates of finance degree programs pursue certifications to become a Certified Public Accountant (CPA), Financial Risk Manager (FRM), or Certified Financial Planner (CFP).
Research schools and programs
When choosing a school for your finance degree program, make sure it’s a regionally accredited institution so that your credits and degrees are transferable to other schools. Consider programs that are accredited by independent organizations like the Association to Advance Collegiate Schools of Business (AACSB) and the Accreditation Council for Business Schools and Programs (ACBSP). Programmatic accreditation ensures that they provide valuable and transferable degrees to their students.
Analyze your schedule and needs before narrowing down a list of potential finance degree programs. Determine which schools offer full-time versus part-time programs. If you plan to attend in person, find out if the school provides on-campus housing or if you will need to find your own accommodations.
Next, consider your career goals and interests, and determine which schools offer courses that you’ll find interesting. Contact an admissions counselor or program representative for more information, or attend open houses — either in-person or virtual — to learn more about the program’s course offerings. If possible, visit the schools you’re considering and sit in on a finance class during your visit.
Prepare for tests and applications
Finance degree programs can be competitive, so prepare your admission materials as thoroughly — and promptly — as possible. Gather letters of recommendation from teachers, advisors, and employers in your desired career field. Request sealed transcripts of prerequisite programs as soon as possible to ensure they arrive before the admissions deadline.
Applying for a finance degree program is an excellent time to put together your resume and CV, both of which you’ll use regularly in your career. Emphasize financial skills, courses, and work experience that sets you apart from fellow prospective students.
For AS and BS finance degree programs, ensure that your SAT and ACT scores meet the minimum requirements of your school’s admissions — especially the math portion. Students pursuing postgraduate degrees should take graduate admissions tests such as the GRE or GMAT (for MBA programs) as soon as possible in case they need time to retake them for a higher score.
Select your program
To choose between finance degree programs, consult your list of needs and priorities. Which program offers the specializations you’re seeking for a financial career? Does either program offer financial aid or scholarships? Which program’s prestige would make your resume stand out when applying for your future job?
If possible, talk to graduates from each educational institution. Listen to their experiences of campus life and academic courses. Research professors in each prospective program and read their books. Which academic experience will be the best fit for you?
Determine how you’ll pay for your degree
Create a budget for your projected expenses during your finance degree program. Include tuition, housing, transportation, and other costs associated with starting a new degree. Factor in learning materials, such as books, prerequisite courses, testing fees, and transcript costs.
Once you’ve listed your expenses and chosen your institution, it’s time to find a way to pay for it. Fill out the Free Application for Federal Student Aid (FAFSA) form to see how much financial aid you qualify for. If you currently work in the financial sector, ask about employer tuition assistance. Talk to your school’s financial aid officer for information about grants and scholarships that don’t need to be repaid after graduation.
Best 50 Accredited Finance Degree Programs
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How we rank schools
This list features some of the best finance degree programs at top colleges across the country. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for postsecondary education. Many of the programs on our list are accredited by the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP), both reputable organizations that assess finance programs for educational excellence.
We evaluated each school’s program on admission, retention, and graduation rates as well as tuition costs, faculty, reputation, and the resources provided for on-campus students. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
Next, we compared this comprehensive list of finance degree programs to a list of aggregated college rankings from reputable publications like U.S. News & World Report, among others, to simplify a student’s college search. We pored through these rankings so students don’t have to.
What Can You Expect From a Finance Degree Program?
Finance degree programs take students through theoretical and real-world financial situations. Similar to economics programs, which provide a lens for viewing the global market and economy, finance programs allow students to apply analytic and statistical models to different financial systems.
In-person finance degree programs include lectures and case-based projects. Since projects require data analysis and financial reports, you’ll need strong math and writing skills at all levels. A background in statistics, business, and economics is also helpful before you begin a postgraduate finance degree program.
Undergraduate finance degree programs take two to four years to complete, depending on whether you’re earning an AS or a BS and attending on a full-time or part-time basis. Postgraduate finance programs like an MFin, MS, or MBA in finance generally take one to two additional years to complete after a graduate earns a BS in finance.
Potential courses you’ll take in a finance program
- Accounting. Students learn the principles of accounting and concepts associated with financial statements and recording transactions. They gain practical skills that range from bookkeeping to financial accounting.
- Financial Statistics. A general financial statistics course focuses on regression models, volatility, probability theory, and other concepts. Students learn to apply statistical principles and methods to the field of finance.
- Investments. Focusing on business forecasting, capital markets, and investment portfolio management, an investments or investment planning course teaches students to model information with a financial lens.
- Corporate Finance. Students learn to run a business, whether it’s a small entrepreneurial venture or a large corporation. They study cash management, fundraising, capital expenditures, and corporate accounting to discover financial best practices within a business context.
- Marketing. Since much of a finance degree depends on communication, a marketing course introduces finance students to the fundamentals of sales. Students examine principles, ethics, and practices of marketing and advertising through case-based projects and theoretical models.
Finance Degree Frequently Asked Questions
How do I apply to a finance degree program?
The admissions process for a finance degree program depends on the institution. Go to your desired program’s homepage and explore its admissions procedures and requirements, which will likely include letters of recommendation, test scores, transcripts, and a minimum GPA from your previous school.
It will also list application deadlines, some of which may be earlier than others, to allow for early admission. Contact the admissions office if you need more assistance with the application process or want to learn more about the institution.
How much does a finance degree cost?
In 2022, the average bachelor’s degree, including a BS in finance, costs $16,618. Associate degrees in finance cost an average of $3,859, while master’s degrees in finance cost around $19,749. These numbers include tuition and fees. Living expenses, transportation costs, and the cost of books and supplies may vary among institutions.
How long does it take to earn a finance degree?
Like most associate degrees, an AS in finance requires 60 credit hours, which is about 20 courses in a program. A bachelor’s degree in finance requires 120 credit hours (about 40 courses), while a master’s degree takes another 30-60 credit hours.
In-person, full-time finance degree programs can take two years for an AS, four years for a BS, and one to two years for a master’s degree (MFin, MBA in finance, or MS in finance). Online or part-time degree programs in finance may take longer, depending on how many credit hours you complete in a grading period.