Finance Degrees in Illinois - Best Programs for 2025

What is Finance?

Finance degree programs allow students to study various topics within the financial industry, including economics, investments, accounting, banking, insurance, and risk management. Some programs may also offer specialized courses in areas like real estate or international finance, depending on the school.

Undergraduate finance programs typically offer a strong foundation in finance and economics, along with training in financial modeling, analysis, and decision-making. While some programs are more specialized, most include courses in business law, quantitative methods, and managerial finance. Upper-level classes may also cover alternative investments like derivatives markets or options trading.

Graduate finance programs offer advanced training, often emphasizing research and hands-on experience in areas like corporate finance, portfolio management, and mergers and acquisitions. An MBA with a finance concentration may include courses in venture capital, financial markets, corporate strategy, econometrics, asset pricing, and public sector economics. Illinois offers many finance degree options at schools like Loyola University Chicago, DePaul University, Southern Illinois University, Northwestern University, and the University of Illinois. Be sure to explore available majors, such as financial management, when considering programs.

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Online Finance Education in Illinois

A finance professional helps organizations and individuals manage money, investments, budgeting, and financial decisions. They analyze and interpret financial data strategically and may work as accountants, auditors, financial advisors, or bankers.

Finance professionals are essential for private businesses and public organizations. They analyze economic trends to help develop strategies, monitor progress, and suggest adjustments. They also advise on complex transactions like mergers, acquisitions, and corporate restructuring.

Most finance positions require at least a bachelor’s degree in accounting or finance, though some employers prefer candidates with a master’s in accounting or business administration focusing on finance. Many schools offer specialized undergraduate programs, like a Bachelor of Science in Business Administration with concentrations in Financial Services Management or Accounting & Financial Analysis, equipping students with skills for entry-level finance roles.

Online Associate (AS)

An associate degree in finance is a two-year program offering an introduction to finance basics, including business management, accounting principles, and financial analysis. Courses may also cover economics, statistics, credit risk, investments, and portfolio management. Graduates are prepared for entry-level roles like budget analyst or bank teller or can pursue further education.

An associate degree in finance provides knowledge of key financial concepts, covering corporate finance, investments, budgeting, and forecasting. Coursework often includes hands-on practice with financial software, and many programs offer internships for real-world experience while earning credits.

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Online Bachelors (BS or BFin)

A bachelor's degree in finance opens the door to diverse career opportunities. Students gain expertise in financial analysis, management, investment strategies, and international finance, learning to evaluate investments and achieve financial objectives. Courses often cover corporate finance, banking, securities analysis, taxation, and portfolio theory. Graduates are prepared for roles like credit analyst, financial advisor, or entry-level positions in banking and business.

In addition to finance core courses, students may study economics, accounting principles, and mathematics while learning risk management techniques for investment decision-making. Many programs offer internships in areas like personal finance or stockbroking, providing hands-on experience. A bachelor’s degree in finance is a strong foundation for careers in the field or graduate-level study.

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Online Masters (MS or MFin)

A master's in finance (MFin) equips students with advanced knowledge for careers in accounting, banking, investments, or financial planning, and prepares them for higher-level management roles. The curriculum includes courses on corporate finance, financial markets, risk management, international finance, and taxation, as well as accounting and quantitative methods. Some programs offer specialized courses like derivatives or real estate investing. Students may also gain internship experience while completing their degree.

Upon graduation from a master's in finance program, students are often well prepared for careers across different sectors including government agencies, private corporations, and non-profit organizations. They have an understanding of the global economy, as well as important business strategies used by organizations around the world.

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Online Doctorate (PhD)

A PhD in finance can prepare students for a variety of careers and advancements in the financial sector. This degree provides an opportunity to develop highly specialized research skills, as well as knowledge of theoretical and practical concepts related to finance. During their program, students will learn advanced techniques to analyze financial documents such as balance sheets, income statements, and cash flow statements; they will also become familiar with sophisticated models used to forecast economic outcomes.

Additionally, graduates will develop proficiency in areas such as corporate governance and risk management that are vital components of any successful financial organization. Furthermore, the curriculum often includes courses on international finance, which helps equip professionals with the ability to work across borders in a global economy. Finally, many programs include additional coursework on topics such as behavioral finance and entrepreneurship which can help deepen a student's understanding of complex financial problems.

Online Certifications

Finance certifications provide professionals with the knowledge and expertise necessary to succeed in the competitive financial services industry. These credentials come from a variety of organizations including universities, professional associations, and corporations. Finance certifications are generally offered at different levels depending on the individual’s level of experience and education. For instance, individuals can earn entry-level certificates such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA). Those looking for more senior-level credentials may pursue additional designations such as Certified Investment Management Analyst (CIMA) or Certified Retirement Services Professional (CRSP).

Each certification requires passing an exam and maintaining continuing education requirements in order to demonstrate currency in the ever-evolving financial landscape. In addition to providing recognition within the industry, many employers recognize finance certifications when evaluating candidates for positions requiring specialized knowledge in this field. As such, having a finance certification serves as an important credential for those interested in working within finance professions.

Become a Financial Manager in Illinois

A career in finance might be the perfect fit for you. However, while there are many entry-level positions available, becoming an experienced professional requires dedication, experience, and knowledge. Here is a step-by-step guide on how to become a successful financial manager.

Step 1: Earn an Undergraduate Degree

Most finance jobs require basic training at least at the undergraduate level. An undergraduate degree in accounting, economics, business administration, finance, or another related field will provide you with the right foundation for pursuing this career path. You don't need to pursue advanced degrees to enter the industry but, if you plan to go further, such as in investment banking or portfolio management, then it’s wise to get additional qualifications like the CFA (Chartered Financial Analyst).
Step 2: Gain Experience through Internships

Internships are essential when trying to get into any finance industry. Not only do they offer firsthand experience but they can also help build valuable connections and give credible references upon entering a full-time position. Internships can range from general accounting internships at small firms or consulting internships at larger firms. Networking is key in getting into reputable organizations, so seek out networking opportunities whenever possible throughout your college years as well as during job searches post-graduation.
Step 3: Choose Your Specialty

Depending on your educational background and current skill set, some sub disciplines of finance may be more appropriate for you than others based on the needs of employers and possibly your own strengths and interests. If you bring expertise in accounting then choosing fields like public accounting or corporate finance makes sense because those roles focus on financial reporting, analysis, auditing, etc. However, if you have more analytical and modeling skills, you might want to consider careers in investment banking or quantitative finance as these offer vast opportunities for growth within an organization, especially when dealing with complex financial affairs.
Step 4: Expand Your Knowledge Base & Develop Marketable Skills

Staying updated with current trends and reading reports is crucial in finance, as outdated information can impact decision-making, leading to profit and loss consequences. Industry certifications like the CFA (Chartered Financial Analyst) demonstrate technical competence, especially in investment banking, and help build client trust. Employers also value transferable skills such as problem-solving, communication, and leadership, which open doors to roles that involve working with both internal teams and external partners.

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What Can I Do with a Bachelor's in Finance?

A bachelor's degree in finance can be used to pursue a variety of career paths. For example, graduates may find opportunities in banking, investment and financial consulting, insurance, or real estate. Additionally, those with a bachelor's degree in finance can work as personal financial advisors or become certified public accountants (CPAs). Graduates may also choose to work in corporate finance, helping businesses and organizations to manage their capital and investment decisions. Many employers prefer professional experience along with the formal education gained from studying finance.

Those with a degree in finance can also use this educational foundation to further their studies by earning an MBA degree or other advanced degrees such as a master’s in economics or financial engineering; this will open up even more career opportunities within the field of finance. Depending on their area of specialization, they could work as actuaries, risk managers, compliance officers, or financial analysts, among many other roles. Many of these positions require additional certifications, such as Chartered Financial Analyst (CFA) certification, which can make them more competitive for certain roles within the finance sector and add value to their resume when applying for jobs.

Potential Careers for Finance Graduates

Auditor:

An auditor is a highly-skilled professional who helps ensure an organization's compliance with statutory laws and best practices. They play an important role in maintaining the accuracy of financial statements, detecting fraud, and catching wasteful spending or other irregularities in an organization's operations.

Necessary Requirements:
- Bachelor’s degree in accounting or related field with certification as a Certified Public Accountant (CPA)
- Knowledge of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS)
- Excellent analytical, problem-solving, and communication skills
Estimated Salary
- The mean annual wage for accountants and auditors in the US in 2021 was $83,980
- The mean annual wage for accountants and auditors in Illinois is $78,430
Financial Advisor:

Personal financial advisors are responsible for providing advice on financial matters to individuals and their families. They create and manage financial plans that include investments, retirement planning, tax planning, estate planning, and insurance coverage.

Necessary Requirements:
- Bachelor’s degree in finance or economics
- Relevant certification (e.g., CFP, CFA)
- Knowledge of the principles of financial planning
- Excellent interpersonal skills
- Detail-oriented with strong analytical skills
Estimated Salary
- The median annual wage for personal financial advisors in the US in 2021 was $94,170
- The mean annual wage for personal financial advisors in Illinois is $117,580
Chief Executive:

A chief executive is the highest-ranking executive in an organization and is responsible for overseeing the general operations of the company and ensuring that it meets its goals.

Necessary Requirements:
- Master's degree in business management or related field
- 5+ years of managerial experience in a similar role
- Proven leadership experience in an executive capacity
- Excellent communication, organizational and problem-solving skills
Estimated Salary
- The mean annual wage for chief executives in the US in 2021 was $213,020
- The mean annual wage for chief executives in Illinois is $244,390
Accountant

An accountant is responsible for overseeing financial activities such as the preparation of financial statements, budgeting, and maintaining records.

Necessary Requirements:
- Bachelor’s degree in accounting or related field
- CPA certification preferred
- Knowledge of Generally Accepted Accounting Principles (GAAP)
- Proficient in Microsoft Office Suite (Word, Excel, Outlook etc.)
- Ability to work independently with minimal supervision
Estimated Salary
- The mean annual wage for accountants and auditors in the US in 2021 was $83,980
- The mean annual wage for accountants and auditors in Illinois is $78,430
Financial and Investment Analyst:

Financial and investment analysts use mathematical models, financial analysis tools, and the latest industry technologies to research market conditions and make recommendations on potential investments. They may examine individual stocks, bonds, and other assets or they may analyze macroeconomic trends that affect an entire sector or portfolio. They also develop strategies integrating profitability goals with risk tolerance levels.

Necessary Requirements:
- Bachelor’s degree in finance, economics, or a related field
- Knowledge of the principles of finance and investment concepts
- Excellent analytical and problem-solving skills
- Excellent understanding of financial planning principles, regulations, and trends
- Strong communication skills
- Ability to work independently and collaboratively in a team environment
Estimated Salary
- The mean annual wage for financial and investment analysts in the US in 2021 was $103,020
- The mean annual wage for financial and investment analysts in Illinois is $103,870
Financial Planner/Advisor:

A financial planner is responsible for helping individuals and businesses reach their financial goals by creating customized plans to meet their individual needs.

Necessary Requirements:
- Bachelor's degree in finance or related field
- CFP (Certified Financial Planner) designation or equivalent preferred
- At least 5 years of experience in financial planning
- Knowledge of financial products and services
- Strong analytical and problem-solving skills
Estimated Salary
- The median annual wage for personal financial advisors in the US in 2021 was $94,170
- The mean annual wage for personal financial advisors in Illinois is $117,580
Budget Analyst:

Budget analysts play an important role in businesses, government agencies, professional sports teams, and non-profits by managing financial resources to ensure money is being used responsibly.

Necessary Requirements:
- Bachelor’s degree in accounting, finance, economics, or related field
- Knowledge of budgeting principles, practices, and procedures
- Understanding of Generally Accepted Accounting Principles (GAAP)
- Proficient in Microsoft Excel, Word
Estimated Salary
- The median annual wage for budget analysts in the US in 2021 was $79,940
- The mean annual wage for budget analysts in Illinois is $85,010
Fundraising Manager:

Fundraising managers are professional bridge builders, responsible for connecting an organization with its individuals, businesses, and other entities that can provide funding. Their work is concerned with researching potential donors, building relationships between them and the company seeking funds, and negotiating donations to ensure both have a beneficial outcome. Therefore, if you’re looking for a career in fundraising, then you need to demonstrate your passion, interpersonal skills, and knowledge of how to maximize the return on donor investment into an organization.

Necessary Requirements:
- A Bachelor’s degree in a related field
- Proven experience in fundraising, marketing, or sales
- Excellent interpersonal, communication, and organizational skills
- Knowledge of fundraising software and databases
- Working knowledge of relevant regulations and laws
Estimated Salary
- The median annual wage for public relations and fundraising managers in the US in 2021 was $119,860
- The mean annual wage for fundraising managers in Illinois is $103,680