Online Master's Degree in Finance (M.Fin.) - Best of 2023

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Why Earn a Master's in Finance?

If you’ve already earned a bachelor's degree in a finance program, then obtaining an online master’s in finance is a great next step to help you become one of the financial managers who earn top-dollar in the industry. A master's in finance degree will cover a wide range of topics including: financial management, financial planning, corporate finance, financial modeling of financial markets, investment management, risk management and more. Finance graduates could also use this master's degree to help you move into a position as a certified financial planner, or as financial analysts, personal financial advisors or corporate financial managers. You could also move from one industry in corporate finance to another or as your first step into a secondary career in teaching. You could get into investment banking, earn a position at the top of a firm that already exists, start teaching in a business school, or start your own accounting firm. With a master’s in finance program, financial graduates previous limitations will cease to be an issue. Or, if you haven’t earned your bachelor’s degree yet, you could always enter a combined bachelor’s/master’s program and get a head start on your future career. Skip years of necessary experience by earning both degrees in less than the usual 6 years you’d need to earn them separately. These are all available in traditional and online master's in finance programs. The choices are yours.

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PROS

Like everything else in the world, there are pros and cons to earning a degree, whether it's earned online, on campus, or in a hybrid program (with online and in-person learning). It’s always a good idea to take a look at your options before committing to anything. While the pros are nice to know about, your main concern should be with the cons, if you can’t get past one of them you may have to switch your goals. For instance, if you must have a certain grade point average and you don’t have anywhere near that score, you may need to rethink your educational plans.

Some of the pros of earning a master’s degree in finance are:

Earn a higher salary than with a bachelor’s degree
Expand your job options
The ability to earn more certificates
Higher level of respect
Ability to earn a doctorate
Finance is one of the most popular degrees earned, and therefore, the industry will be more competitive. A master’s will help you earn your place.
You will be confident and prepared, with all the skills you need
Take confidence in your own personal financial management, financial planning and investment management.

CONS

Another thing that’s great about being able to look at the pros and cons of things before signing up is that it gives you an idea of what you can expect, as well as what is required so that you can decide if the benefits outweigh the bad. For example, one of the pros is that you can expand your job options, but, as you’ll see, it also takes longer to earn a master’s than it does a bachelor’s degree. You’ll need to decide whether or not having more job options is worth your time. Of course, there won’t be many cons when it comes to earning any kind of online degree, since learning and increasing your education pretty much always pays off.

A lesser return on investment is possible
Takes longer to earn than a lower level degree
Earning a master’s in finance includes complex courses and a lot of focus
Finance uses some higher-level math concepts such as algebra, probabilities, statistics, and trigonometry. This may be a deterrent for some to pursue a master's in finance degree.

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What are the Best Online Master of Science in Finance (M.Fin.) Programs?

Harvard University

Tuition
- In-State: $50,928
- Out-of-State: $50,928
Net Price: $13,910
Acceptance Rate: 4%
Retention Rate: 96%
Graduation Rate: 97%

Total Enrollment: 31,345
Undergrad Students: 9,579
Graduate Students: 21,766
Diplomas Awarded: 157
Grads Salary: $96,000
Student-to-faculty: 7:1

Columbia University

Tuition
- In-State: $50,496
- Out-of-State: $50,496
Net Price: $12,411
Acceptance Rate: 4%
Retention Rate: 99%
Graduation Rate: 97%

Total Enrollment: 33,776
Undergrad Students: 8,832
Graduate Students: 24,944
Diplomas Awarded: NA
Grads Salary: $88,000
Student-to-faculty: 6:1

Johns Hopkins University

Tuition
- In-State: $58,720
- Out-of-State: $58,720
Net Price: $20,680
Acceptance Rate: 8%
Retention Rate: 96%
Graduation Rate: 95%

Total Enrollment: 32,049
Undergrad Students: 6,132
Graduate Students: 25,917
Diplomas Awarded: 54
Grads Salary: $90,000
Student-to-faculty: 6:1

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Georgetown University

Tuition
- In-State: $54,672
- Out-of-State: $54,672
Net Price: $23,049
Acceptance Rate: 12%
Retention Rate: 98%
Graduation Rate: 95%

Total Enrollment: 20,935
Undergrad Students: 7,598
Graduate Students: 13,337
Diplomas Awarded: 102
Grads Salary: $85,000
Student-to-faculty: 11:1

University of Washington

Tuition
- In-State: $16,605
- Out-of-State: $29,763
Net Price: $8,701
Acceptance Rate: 53%
Retention Rate: 93%
Graduation Rate: 84%

Total Enrollment: 52,434
Undergrad Students: 36,201
Graduate Students: 16,233
Diplomas Awarded: NA
Grads Salary: $82,000
Student-to-faculty: 21:1

Boston University

Tuition
- In-State: $58,560
- Out-of-State: $58,560
Net Price: $25,852
Acceptance Rate: 19%
Retention Rate: 94%
Graduation Rate: 89%

Total Enrollment: 36,104
Undergrad Students: 18,229
Graduate Students: 17,875
Diplomas Awarded: 214
Grads Salary: $81,000
Student-to-faculty: 11:1

William & Mary

Tuition
- In-State: $10,516
- Out-of-State: $28,305
Net Price: $18,399
Acceptance Rate: 37%
Retention Rate: 93%
Graduation Rate: 91%

Total Enrollment: 9,517
Undergrad Students: 6,543
Graduate Students: 2,974
Diplomas Awarded: NA
Grads Salary: $75,000
Student-to-faculty: 12:1

University of Maryland

Tuition
- In-State: $15,360
- Out-of-State: $34,120
Net Price: $17,146
Acceptance Rate: 52%
Retention Rate: 95%
Graduation Rate: 88%

Total Enrollment: 41,272
Undergrad Students: 30,922
Graduate Students: 10,350
Diplomas Awarded: 47
Grads Salary: $80,000
Student-to-faculty: 18:1

Purdue University

Tuition
- In-State: $9,718
- Out-of-State: $28,520
Net Price: $14,619
Acceptance Rate: 69%
Retention Rate: 91%
Graduation Rate: 83%

Total Enrollment: 50,344
Undergrad Students: 37,806
Graduate Students: 12,538
Diplomas Awarded: NA
Grads Salary: $79,000
Student-to-faculty: 14:1

Stevens Institute of Technology

Tuition
- In-State: $38,076
- Out-of-State: $38,076
Net Price: $40,828
Acceptance Rate: 53%
Retention Rate: 93%
Graduation Rate: 87%

Total Enrollment: 8,287
Undergrad Students: 4,064
Graduate Students: 4,223
Diplomas Awarded: NA
Grads Salary: $93,000
Student-to-faculty: 12:1

Santa Clara University

Tuition
- In-State: $25,170
- Out-of-State: $25,170
Net Price: $48,469
Acceptance Rate: 54%
Retention Rate: 94%
Graduation Rate: 91%

Total Enrollment: 8,918
Undergrad Students: 5,895
Graduate Students: 3,023
Diplomas Awarded: 1
Grads Salary: $92,000
Student-to-faculty: 11:1

Northeastern University

Tuition
- In-State: $25,801
- Out-of-State: $25,801
Net Price: $38,927
Acceptance Rate: 18%
Retention Rate: 97%
Graduation Rate: 91%

Total Enrollment: 28,167
Undergrad Students: 15,747
Graduate Students: 12,420
Diplomas Awarded: 28
Grads Salary: $81,000
Student-to-faculty: 15:1

Indiana University-Bloomington

Tuition
- In-State: $9,909
- Out-of-State: $31,932
Net Price: $13,386
Acceptance Rate: 85%
Retention Rate: 90%
Graduation Rate: 81%

Total Enrollment: 45,328
Undergrad Students: 34,253
Graduate Students: 11,075
Diplomas Awarded: NA
Grads Salary: $72,000
Student-to-faculty: 17:1

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Molloy University

Tuition
- In-State: $22,590
- Out-of-State: $22,590
Net Price: $25,540
Acceptance Rate: 79%
Retention Rate: 83%
Graduation Rate: 70%

Total Enrollment: 4,910
Undergrad Students: 3,308
Graduate Students: 1,602
Diplomas Awarded: 17
Grads Salary: $85,000
Student-to-faculty: 10:1

University of Miami

Tuition
- In-State: $39,834
- Out-of-State: $39,834
Net Price: $34,492
Acceptance Rate: 28%
Retention Rate: 93%
Graduation Rate: 84%

Total Enrollment: 19,096
Undergrad Students: 12,089
Graduate Students: 7,007
Diplomas Awarded: 16
Grads Salary: $77,000
Student-to-faculty: 13:1

University of Massachusetts-Lowell

Tuition
- In-State: $14,590
- Out-of-State: $26,370
Net Price: $13,227
Acceptance Rate: 85%
Retention Rate: 82%
Graduation Rate: 69%

Total Enrollment: 17,597
Undergrad Students: 12,884
Graduate Students: 4,713
Diplomas Awarded: 9
Grads Salary: $79,000
Student-to-faculty: 18:1

Southern Methodist University

Tuition
- In-State: $30,672
- Out-of-State: $30,672
Net Price: $41,986
Acceptance Rate: 53%
Retention Rate: 91%
Graduation Rate: 82%

Total Enrollment: 12,385
Undergrad Students: 6,908
Graduate Students: 5,477
Diplomas Awarded: NA
Grads Salary: $83,000
Student-to-faculty: 12:1

Auburn University

Tuition
- In-State: $10,080
- Out-of-State: $30,240
Net Price: $23,873
Acceptance Rate: 71%
Retention Rate: 93%
Graduation Rate: 81%

Total Enrollment: 31,526
Undergrad Students: 24,931
Graduate Students: 6,595
Diplomas Awarded: NA
Grads Salary: $74,000
Student-to-faculty: 20:1

George Mason University

Tuition
- In-State: $13,035
- Out-of-State: $34,347
Net Price: $18,841
Acceptance Rate: 91%
Retention Rate: 84%
Graduation Rate: 70%

Total Enrollment: 38,628
Undergrad Students: 26,882
Graduate Students: 11,746
Diplomas Awarded: NA
Grads Salary: $78,000
Student-to-faculty: 16:1

Saint Joseph's University

Tuition
- In-State: $18,144
- Out-of-State: $18,144
Net Price: $33,438
Acceptance Rate: 83%
Retention Rate: 89%
Graduation Rate: 83%

Total Enrollment: 6,464
Undergrad Students: 4,196
Graduate Students: 2,268
Diplomas Awarded: 46
Grads Salary: $75,000
Student-to-faculty: 10:1

Penn State World Campus

Tuition
- In-State: 36,882
- Out-of-State: 46,896
Net Price: $24,012
Acceptance Rate: 92%
Retention Rate: 87%
Graduation Rate: 72%

Total Enrollment: 88,914
Undergrad Students: 73,476
Graduate Students: 15,438
Diplomas Awarded: NA
Grads Salary: $78,000
Student-to-faculty: 15:1

Creighton University

Tuition
- In-State: $17,190
- Out-of-State: $17,190
Net Price: $31,040
Acceptance Rate: 78%
Retention Rate: 91%
Graduation Rate: 79%

Total Enrollment: 8,735
Undergrad Students: 4,481
Graduate Students: 4,254
Diplomas Awarded: 2
Grads Salary: $74,000
Student-to-faculty: 11:1

University of Michigan-Dearborn

Tuition
- In-State: $14,110
- Out-of-State: $25,152
Net Price: $11,818
Acceptance Rate: 69%
Retention Rate: 84%
Graduation Rate: 56%

Total Enrollment: 8,331
Undergrad Students: 6,355
Graduate Students: 1,976
Diplomas Awarded: 25
Grads Salary: $75,000
Student-to-faculty: 16:1

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University of Missouri-Columbia

Tuition
- In-State: $9,950
- Out-of-State: $27,245
Net Price: $18,249
Acceptance Rate: 77%
Retention Rate: 88%
Graduation Rate: 73%

Total Enrollment: 31,401
Undergrad Students: 23,696
Graduate Students: 7,705
Diplomas Awarded: 15
Grads Salary: $70,000
Student-to-faculty: 18:1

University of Oklahoma

Tuition
- In-State: $8,034
- Out-of-State: $23,096
Net Price: $22,022
Acceptance Rate: 85%
Retention Rate: 89%
Graduation Rate: 76%

Total Enrollment: 28,042
Undergrad Students: 21,152
Graduate Students: 6,890
Diplomas Awarded: 30
Grads Salary: $71,000
Student-to-faculty: 17:1

Overview of an Online Master's in Finance

What Finance Master’s Degrees are Available?

Master of Business Administration (MBA) in Finance:
Studying for an MBA will include core classes in finance, management, accounting, business law, and marketing. It will take one to two years of graduate training to obtain an MBA, which can qualify you for a chief executive position in finance.
Master of Finance:
Also known as a Master of Science in Finance (MSF), this graduate degree is for those interested in the field of finance. Students will gain knowledge of financial methods, concepts, theories, and models that they can use in finance managing roles in a corporate environment.
Master in International Finance:
Designed to give students the knowledge and skills to prepare them for global business dynamics, the Master’s degree in International Finance is a good stepping stone for someone who wants to study various aspects of international trade.
Master of Financial Analysis:
This broad postgraduate program provides students with the skills and knowledge needed to conduct financial analysis for companies by evaluating a business’s budget, projects, and more. Students will get a broader and deeper exposure to finance to determine suitability and performance.
Master of Science in Financial Analysis and Investment Management (MS-FAIM):
The MS-FAIM provides you with the qualitative and quantitative skills of analysis involved with quantitative techniques used in risk management, corporate financial analysis, investment portfolio management, and more.

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Online Admission Requirements

Those who earn an online bachelor's degree in finance will find a wide range of opportunities available to them in public, private, and non-profit organizations. Earning an online master's degree in finance, or a Master in Business Administration (MBA) with a focus on finance, will give you an advantage in the finance industry.

The Prerequisites to getting a master’s finance degree are:

A Bachelor's Degree: Most finance master's degree programs require a bachelor's degree.
Some Professional Experience: Some master’s degree in finance programs require applicants to have from one to two years of professional experience.
Minimum GPA: Most graduate programs in finance require that students have, at a minimum, an undergraduate GPA of 3.0.
Even some online programs will require that you attend an in-person seminar or one or two courses on campus. While this may not be optimal for everyone looking to earn their degree online, it does allow for more netowrking than the usual online format alone.

How long does it take to earn an online Master’s Degree in Finance?

Depending on your level of previous education, your dedication to studying, and the program you take, a master’s degree in finance can take anywhere from one to six years to complete.

To earn your master’s online, you will first need to obtain a bachelor’s degree that provides entry-level opportunity and can take anywhere from two to four years to complete. Moreover, if you decide to study full-time then you may be able to earn your master’s in finance in as little as one year, as there are fast track or accelerated programs available from many online institutions. However, if you decide to study part-time while taking an online class, then it can take up to six years to earn your master’s in finance.

Potential Careers in Finance with a Master’s

Financial Analyst
Median Salary - $61,400

Financial analysts are financial managers responsible for using owners and shareholders earned income to create company wealth by:
- Preparing monthly financial forecasts and financial budgets
- Providing analysis support to many areas of the company
- Assisting with the preparation of financial analysis schedules, including weekly, monthly, and quarterly
Chief Financial Officer
Median Salary - $136,100

The job duties of a Chief Financial Officer are to:
- Prepare or direct the preparation of financial statements, financial position forecasts, regulatory agencies required reports, annual budgets, and business activity reports
- Develop internal control procedures, policies, and guidelines for activities that include cash and credit management, budget administration, and accounting
- Provide coordination and leadership in the business planning, administrative, and accounting and budgeting of the company
Financial Controller
Median Salary - $84,700

A Financial Controller is responsible for:
- Maintaining and establishing internal controls that support the financial infrastructure
- Ensuring that policies and procedures are compliant with state and federal standards as well as regulatory requirements
- Overseeing financial reporting, accounting, preparation, and analysis of the consolidated financial statements, as well as tax compliance schedules
- Presenting potential risk areas and financial reporting to senior management
Finance Manager
Median Salary - $92,400

Financial managers develop and observe financial forecasts and departmental budgets for their company by:
- Assisting the operations team in monthly review operations
- Identifying areas for operational improvements and cost reductions
- Preparing informational analyses on actual performances and process budgets for the present time and for previous years
- Providing analyses to the operations team
Finance Director
Median Salary - $114,200

Finance directors have a leadership position in general management. Their duties include hiring, scheduling, and carrying out performance evaluations. These directors typically lead a finance team of financial managers in strategic planning in regard to the company's finances, which includes accounting duties, projections, and financial analyses.

The finance director and their team will identify areas in need of improvement and identify mistakes and risks for their company before profits are reduced.
Director, Financial Planning & Analysis
Median Salary - $129,600

Financial Planning & Analysis Directors use knowledge of accounting and economics for:
- Providing financial analysis to spur profitability and growth, while also improving business performance
- Approving and reviewing the department budgets
- Final say on determining with other financial managers what course of action to take to mitigate financial risks
- Performing risk evaluations and identifying the weaknesses of the company financial model and business plan

Options to Advance

To advance your career after obtaining your online master's degree you can earn an online PhD degree. Earning a doctorate in finance is the highest level of education you can get in the finance industry. Doctor in Philosophy (PhD) in finance or Doctor of Business Administration (DBA) programs emphasize research and independent study.

In addition, these programs give students an in-depth understanding of financial mathematics, professional management, investments, human resources, and statistics in financial markets, products, and corporate finance. Both degree levels open the doors to advanced employment opportunities with more lucrative earnings. Some job opportunities include:

College professors
Conducting research for scholarly publications
Business school instructors

Frequently Asked Questions

Will a master’s in finance really provide me with more knowledge?

Some feel that a master’s in their field does not provide more knowledge or information, but only gives them an upgrade to their certifications, looking good on a resume while not really being worth the time and money it takes to earn. However, in a complex field like finance, this is not necessarily the case. It’s true that you could attend a program that doesn’t provide in-depth knowledge much beyond an undergraduate degree, or you might choose not to take a concentration and miss out on that in-depth knowledge that might be offered. But, if you are careful in your choice of program and choose a specialization, or choose to earn an MBA with a concentration in finance, then you are sure to gain useful knowledge that will come in handy throughout the rest of your career.

Is finance or accounting more difficult?

The answer to that is likely depend heavily on who you are and your personality. If you prefer to focus on the tiny details, then you might prefer accounting. Accounting doesn’t require much high-level math, indeed it usually just uses the basics in very specific ways, but you will need to pay very close attention to the minutia of every transaction that comes across your desk. On the other hand, those who work in finance are more likely to look at the big picture. They focus less on ensuring that they know where every cent in the company is going and look to where it might be redirected in order to ensure a return. However, finance in general and the master finance program needed to earn a master's degree in finance also uses some higher-level math concepts such as algebra, probabilities, statistics, and trigonometry. As most of these are rarely used by accounting professionals, those who have more trouble with these kinds of math might find a finance degree and job as financial managers more difficult than accounting.

Best Online Masters in Finance Degrees for 2023