What You Should Know About This Degree
Whether you are looking to enter the finance field or further your career in finance, earning a master’s degree is a good option if you already possess an undergraduate degree. A Master of Science in Finance isn’t your only option, though. Many individuals opt for a Master of Business Administration (MBA), which is a more general degree that typically includes coursework in business, management, and organizational leadership, in addition to financial skills.
Depending on your career goals, you may want to consider an MBA, although the more specialized MS in Finance is becoming increasingly popular among employers. Some schools offer a dual MS/MBA program, allowing you to earn both degrees in a more condensed time frame.
You may also want to research master’s degrees in accounting, which is a closely related field to finance. Both careers involve working with money, but there are some important differences between them. Your career goals will guide which type of program is right for you.
While many of the programs on our list have coursework that can be completed totally online, some have optional residency or internship programs. There are many benefits to completing an internship as part of your master’s degree, especially if you don’t have any professional experience in finance.
Here are some questions to ask when researching Online Master’s in Finance programs:
- Does this program offer the specialization I want? There are many options for concentrations within finance, including corporate finance, investments and securities, and fraud management. If you are planning to focus on one of these areas, be sure to select a program that allows you to concentrate in your area of interest.
- Am I eligible for this program? At the graduate level, most programs require either prerequisite coursework or professional experience in the subject. If you do not have a degree or undergraduate coursework in finance or a related field, you may have to take some prerequisite classes prior to enrollment in the master’s program.
Be sure to research the program’s admissions procedures and deadlines as well. Having this information will ensure a smooth application process to your selected programs. This information is typically available on the school’s website, or you can contact their admissions department.
You should also consider your options for financing your education, including loans, scholarships, and assistantships. If you are currently employed, find out if your employer offers any kind of tuition assistance benefits.