Online Degrees in Finance
Financial experts in fields from banking to real estate to government regulation need the skills to understand complex financial transactions and their broader societal impacts. Traditional and online business schools offer finance degrees at all levels to satisfy a demand for skilled professionals capable of thriving in increasingly complex capital markets.
Online degrees in finance: From certificates to doctoral degrees
Depending on a student's career goals, finance degrees range from short-term, applied finance certificates to research-oriented graduate degrees. Take a look at some representative finance training programs:
Certificates in finance
Certificates in finance are generally short-term programs that focus on specific skills such as the latest financial management practices, terminology and computer spreadsheet techniques. Finance certificates may be best for mid-career professionals who need to update skills in a certain area. For example, many portfolio managers and research analysts choose to pursue the Chartered Financial Analysts (CFAs) credential.
Associate and bachelor's degrees
Two-year associate degrees in finance focus on the developing basic competencies in money management, financial transactions, regulatory matters and customer service. Bachelor's degree programs--ranging in length from four to six years depending on pace of study--include finance basics as well as more advanced financial concepts such as risk management, mergers and acquisitions, portfolio management, and global finance.
Master's and doctoral degrees
Online master's degrees in finance may be dedicated finance degrees or MBAs with a specialization in finance. While a finance MBA focuses on applications in the business world, master's degrees in finance may emphasize financial theory. At the master's degree level, coursework includes financial theories, risk management, capital budgeting and credit management.
Doctoral degrees in finance are generally geared toward those pursuing academic careers and include in-depth study of contemporary financial issues as well as training to conduct financial research, according to the Swiss Management Center. Students pursuing doctoral degrees usually have a strong financial background and wish to become consultants, researchers or professors.
Candidates for online finance degrees
Students who pursue online finance degrees may already work in finance and go back to school to get further training for career advancement. These students often focus on portfolio management, corporate finance, investment or commercial banking. Northeastern University reports that successful financiers possess strong quantitative, analytical and communication skills and pursue careers in the following fields:
- Trading
- Corporate finance
- Financial analysis
- Treasury
- Private wealth management
Careers in finance
The Bureau of Labor Statistics (BLS) reports the mean annual wage for financial analysts was $86,040 in 2010. Most analysts work in the financial investments industry in New York and California. The top paying metropolitan areas for financial analysts are Bridgeport-Stamford-Norwalk, CT and San Francisco-San Mateo-Redwood City, CA, where financial analyst salaries could reach annual mean wages of $118,580 and $118,360, respectively. These wages exclude bonuses, which could drive yearly payments into the millions of dollars.
The BLS also reports that mean annual wages for financial managers were $116,970 in 2010. Most financial managers work in banking and investments in New York and California. With a mean annual wage of $168,420, the highest paid financial managers are in the New York-White Plains-Wayne, NY-NJ metropolitan area.
Financial managers are projected to see average growth from 2008 to 2018, the BLS reports, while financial analysts should see rapid growth of 20 percent. However, competition for those lucrative jobs is expected to be tight.
Finance at a glance
- Degree holders commonly go into: Trading, corporate finance, financial analysis, Treasury and private wealth management.
- Salary range for common careers (excluding bonuses): $86,040 to $116,970
- Job growth for financial careers (2008 to 2018): 8 percent, financial managers; 20 percent, financial analysts
