Best Online Finance Degrees 2020

Do you have a passion for money? Have you always wondered how businesses manage their money and how the stock market works? If this describes you, then maybe you should consider enrolling in an online finance degree.

The job prospects for a career in finance are lucrative, to say the least. According to the U.S. Bureau of Labor Statistics, the median pay for a financial analyst was $85,660 per year in 2018. That’s definitely not a salary that you’d want to pass on.

Most employers have come to expect that candidates for jobs like investment or financial analyst will have a degree. This is because jobs in finance can command such impressive salaries and stable job prospects, and so these jobs can be competitive.

Online degrees in finance have grown in popularity over the last few years. These provide an alternative to a traditional finance degree where instead of studying in a classroom, you can do most or all of your studying online.

In this article, we’re going to break down the top five online finance degree programs. We’ll discuss the background of each of these programs, how much they charge, and how each program is structured.

Online Finance Degree Rankings in 2020

With so many online finance degrees out there, you may be confused as to which one is worth your valuable time and money. So, we’ve prepared a list of the top online finance degrees which will help you refine your search for a finance degree.

#1: Penn State University

• Degree: Bachelor of Science in Finance
• Tuition: $576/credit (in-state) or $617/credit (out-of-state)
• Duration: 4 years
• Credit Requirement: 120 credits

Penn State offers a wide range of online programs through its World Campus, one of which is a Bachelor’s in Finance degree. In this program, you can expect to learn about topics such as personal finance, financial institutions, and security analysis.

In this program, you’ll be prepared for a range of careers in finance. So, whether you want to be a financial analyst, a securities analyst, or work in corporate banking, this degree will help you reach your goals.

This program will help you prepare for the Certified Financial Analyst (CFA) and Certified Financial Planning (CFP) certifications, depending on your field of specialization. This means that when you graduate, you’ll be ready to study toward the certifications you need to unlock even higher salaries in the job market.

#2: University of Massachusetts Amherst

• Degree: Bachelor of Business Administration (Finance)
• Tuition: $475/credit
• Duration: 4 years
• Credit Requirement: 120 credits

The University of Massachusetts Amherst offers a Bachelor of Business Administration degree with a specialization in finance. This degree will help you develop a broad understanding of business management while allowing you to go deep into finance from a business perspective.

In this program, you’ll learn about topics such as social entrepreneurship, bank management, and business data analysis. The degree also offers a course in career and professional development which will help you practice your networking skills, professional etiquette, and give you the tools you need to start a successful internship or job search.

In terms of finance, you’ll cover topics like international finance, advanced corporate finance, and investments, which will give you a well-rounded view of the role capital plays in modern businesses.

#3: Florida International University

• Degree: Online Bachelor of Business Administration in Finance
• Tuition: $228.81/credit (in-state) or $345.87/credit (out-of-state)
• Duration: 4 years
• Credit Requirement: 120 credits

Florida International University offers a Bachelor of Business Administration with a finance track. This is a fully-online program that will help prepare you for a job or graduate studies in business, banking, or investments.

In this degree, you’ll cover topics such as corporate finance, portfolio management, financial risk management, and international finance. By the end of this program, you’ll be equipped with the ability to explore how financial markets work together, analyze investments, understand risk, and analyze the nature of commercial banking.

#4: Northeastern University

• Degree: Bachelor of Science in Finance and Accounting Management
• Tuition: $541/credit
• Duration: 4 years
• Credit Requirement: 120 credits

Northeastern University offers a bachelor’s program in finance and accounting management which can be taken online.

As a student in Northeastern University’s finance program, you’ll cover topics like the principles of marketing, business ethics, financial accounting, managerial accounting, and investments. You’ll also be able to choose an elective or concentration in your course to explore a specific field in more depth. These include leading and managing change, and new venture creation.

Northeastern University uses an experiential learning pedagogy that combines both world-class academics with professional practice. This will allow you to put the skills you learn in the classroom into action quickly, which will help you better prepare for a job in finance or accounting.

#5: Regis University

• Degree: Bachelor of Science in Finance
• Tuition: $530/credit
• Duration: 4 years
• Credit Requirement: 120 credits

Whether you’re interested in working in finance at a large corporation, or at a small company, having a good understanding of banking is crucial. In Regis University’s Bachelor of Science in Finance program, you’ll be able to develop a strong understanding of finance, both in the context of companies and how finance affects the world.

In this degree, you’ll cover topics like forecasting and planning, financial analysis, and the fundamentals of investments. This will prepare you for a range of jobs in finance, from being a budget manager to being an investor. 

Regis University has a 13:1 student-to-faculty ratio. The school is also well-known for the student life experiences available. For instance, at Regis, there are 69 programs for which you can volunteer.

Online Finance Degree Offerings

A finance degree is a requirement for many roles in the financial industry. Even where a finance degree is not a requirement, having one will help you set yourself apart from the other candidates who are applying for the job you’re interested in.

Online degree programs provide you with a high degree of flexibility over your studies. You’ll be able to study from anywhere. That’s not all: because many online learning resources are pre-prepared, you should have more control over when you study.

There are two main types of online finance degrees you can earn:

• Bachelor’s Degree
• Master’s Degree

Online Bachelor’s Degrees in Finance

A bachelor’s degree in finance will prepare you for a career in finance, business, or banking. Whereas an accounting degree may focus on financial reporting and auditing, in a finance degree you’ll develop a deeper understanding of personal and corporate finance, how markets interact, and how money moves around the world.

Online Bachelor’s Degrees in Finance Admission Requirements

You’ll need a high school diploma or an equivalent certificate to be admitted into an online finance bachelor’s degree program. You may also be asked to submit standardized test scores, and have a minimum GPA of at least 2.0.

Online Bachelor’s Degrees in Finance Curriculum

Every online finance degree has its own approach to teaching, but the fundamental themes that you’ll cover across each degree are the same. Here are a few of the courses you can expect to come up in an online bachelor’s degree in finance:

• Statistics: In this course, you’ll learn about how to collect, analyze, interpret, and present data. You’ll learn about topics like probabilities, hypothesis testing, data segmentation, and ratios. This knowledge will prepare you for many of the statistical models and formulas you’ll encounter in a job in finance.

• Financial Management: This course covers how to make financial decisions for a business. You’ll learn about how businesses use money, how businesses raise money through stocks, bonds, debt, and other models, and more.

• Commercial Banking System: This course will teach you about the role of banks in the economy. You’ll learn how banks make money, how they manage risk, and what regulations banks have to comply with in order to offer financial services.

• Risk Management: You’ll learn how to assess, identify, and control the exposure of risk within a financial institution. This will help prepare you for roles in investing and financial analysis, which often involve ensuring that a portfolio is not over-exposed to a certain risk.

• Economics: In this course, you’ll learn about the fundamentals of economics and how economics relates to finance. You’ll learn about the transfer and production of wealth, theories of supply and demand, and how money moves around the world through different monetary systems.

Online Bachelor’s Degrees in Finance Progression

A bachelor’s degree in finance is sufficient to enter into an entry-level role in finance. You could use your degree to pursue a career as a financial planner, budget analyst, actuary, investor relations associate, or a financial analyst.

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You’ll likely be employed by one of the following types of organizations:

• A bank
• An investment firm (such as a venture capital firm, hedge fund, pension fund, or mutual fund)
• An insurance firm
• A financial management firm
• A governmental body
• A business’ finance department

You could also continue your studies to the master’s level, which will allow you to explore a specific area of finance in more depth.

Online Master’s Degrees in Finance

An online master’s degree in finance will provide you with a deeper insight into finance, investing, and financial markets.

This degree will prepare you for more senior roles in finance or financial management. Whereas in a Master of Business Administration (MBA) degree you would study a range of practical business skills, a Master’s of Finance degree will focus specifically on financial systems and how they apply in the context of business and the economy.

Online Master’s Degrees in Finance Admission Requirements

You’ll need a bachelor’s degree to enroll in an online finance degree. Many schools also require you to have completed previous coursework in economics and statistics. You may also be expected to submit your GRE or GMAT scores.

Some schools require that students enrolling in a master’s program have experience in either a business or finance-related role. This may have taken the form of an internship or professional employment.

Online Master’s Degrees in Finance Curriculum

The content of your master’s program will depend on the program which you attend, and your area of specialty. You’ll likely explore topics like risk management and economics in significant depth, which will give you a broad base of knowledge upon which you can expand later in your degree.

You will also be given an opportunity to specialize in a particular area of finance. A few areas in which you could specialize include:

• Bond markets
• Stock markets
• Corporate financial policy
• Risk management
• Financial accounting

Toward the end of your program, you will be expected to complete and submit a thesis. This will involve researching a problem related to finance and demonstrating your knowledge of financial theory in solving that problem.

Online Master’s Degrees in Finance Progression

With a master’s degree in finance, there are many opportunities you could pursue. Many graduates go on to become stockbrokers, financial analysts, personal financial advisors, or financial managers.

The type of environment in which you’ll work will be similar to those a bachelor’s degree graduate might work,  which we discussed earlier. Most financial professionals work for banks, investment firms, the government, or in a business’ finance department.

What Can You Do With an Online Finance Degree?

Finance plays a crucial role in many industries. As a result, students who graduate from an online finance degree are qualified to enter into a broad range of positions. These include working for the federal government, local government agencies, in a bank, or for a business’ finance department.

Here are a few of the job paths you could pursue after graduating from a finance degree:

• Financial Analyst: Financial analysts provide advice to businesses and individuals making investment decisions. They’ll analyze individual investments and make recommendations about whether an investor should buy, sell, or hold a financial asset.

• Financial Manager: Financial managers prepare financial statements and forecasts, monitor financial documents to ensure that legal employees are met, and will set the long-term strategic financial goals of a business.

• Personal Financial Advisor: Personal financial advisors meet with clients to discuss their financial goals and provide personalized advice on investments, mortgages, college savings, taxes, and retirements.

• Financial Examiner: Financial examiners monitor the financial condition of banks and other financial institutions, evaluate the risk to which those organizations are exposed, and review and validate internal financial documents.

• Securities, Commodities, and Financial Services Sales Agents: These workers connect buyers and sellers in financial markets. They sell securities to businesses and individuals, and conduct buy and sell trades on securities like stocks and bonds.

Career Prospects for Finance Degree Graduates

When you earn a finance degree, you can expect your job prospects to improve significantly.

Jobs in the finance industry are known to pay very well. Not only do they offer great salaries, but some jobs even offer performance-based compensation. For instance, if you work at an investment bank or for a hedge fund, you may receive a bonus at the end of a financial year if you have helped the business reach a certain financial goal.

The salary you can expect to earn depends on the type of organization for which you work. If you work as a personal financial manager to families, you can expect to earn a strong salary. However, if you were to work for a national financial advisory firm, you may earn an even higher salary.

To help you understand what salary you can expect to earn with a finance degree, consider these median salaries collected from the U.S. Bureau of Labor Statistics:

• Financial Analyst: $85,660
• Financial Manager: $129,890
• Personal Financial Advisor: $87,850
• Financial Examiner: $81,090
• Securities, Commodities, and Financial Services Sales Agents: $62,270

Financial Certification

Most jobs in finance do not require any special licenses or certifications to work in, but there are a few that do. If you’re looking to break into a career in finance, you should check to see whether there are any certifications that you will need to attain before practicing in your role.

Here are a few of the certifications you may need:

• Financial Risk Management Certification: This certification is the highest qualification for financial risk management professionals. It will prepare you for jobs in risk management in large financial institutions and markets with high competition.

• Certified Public Accountant: If you want to practice as an accountant, you may need to earn the Certified Public Accountant certification. Most states ask that you have studied for at least 150 hours before you can take the exam.

• Certified Financial Planner: The Certified Financial Planner certification validates your skills in the field of financial management. It shows that you are able to maintain integrity and professionalism in your role, and proves you have strong financial management and planning skills.

Conclusion

If you’re interested in finance and money, a degree in finance may be a good investment for you. In a finance degree, you’ll learn about personal and corporate finance, how money moves around the world, risk management, and more.

Online programs have become particularly common in the finance industry, as demand for skilled financial professionals rises. Online programs provide more flexible studying options than a traditional in-person program, and they are often cheaper than in-person programs. 

So, if you’re thinking about a degree in finance, you should definitely consider whether or not an online program could be preferable based on your needs and schedule.