Best Bachelor's of Finance Degrees

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Tuition information is based on published tuition and required fees, per data by the National Center for Education Statistics (NCES).

While there are many finance degree programs available in online, hybrid, and on-campus formats, here we will focus on the in-person programs available on campuses around the country. These programs are widely available at the undergraduate and graduate levels. Students in these programs typically receive hands-on learning experiences during these programs to prepare them for diverse business-related careers. It is also fairly common for these degree programs to conclude with a culminating project or experience of some sort. Explore some of the different degree levels available within the field of finance here.

Associate Degrees in Finance

Finance degrees at the associate level are commonly offered as Associate of Science (AS) degrees. Most of these programs are designed to easily allow students to transfer their credits to a 4-year school and continue their studies in the field. Students may need to complete between 60 and 65 credits of coursework, and some programs may conclude with a finance seminar and/or capstone project where students can apply what they have learned to a project. Coursework primarily consists of general education courses but also gives students a broad overview of finance.

Bachelor's Degrees in Finance

Students can usually earn a Bachelor of Arts (BA) or Bachelor of Science (BS) degree in finance. There are also some related programs, like a bachelor's in business administration or management with a concentration in finance available. Some of these programs may require between 120 and 180 credits of coursework. Depending on the program, students may be required to complete a finance internship at the end of the program to gain hands-on training in the field and help prepare for a future career. Other programs may conclude with a capstone course that helps students apply what they have learned to various real-world scenarios, such as case studies.

Master's Degrees in Finance

Master's programs in finance are usually available as Master of Finance or Master of Science (MS) in Finance degrees, but there are also programs, like a Master of Business Administration (MBA), that offer finance as a concentration. Depending on the program, students may be able to study full- or part-time, and full-time students may be able to complete the program in as little as 1 year. Some programs offer different tracks to help students finish at a pace they are comfortable with, such as an accelerated 10-month track or 15-month track. These degree programs may require around 30 credits of coursework and help prepare students for the Chartered Financial Analyst (CFA) designation.

Doctoral Degrees in Finance

At the doctoral level, students can pursue a Doctor of Philosophy (PhD) in Finance. Typically, these are full-time programs that may take 4 to 5 years to complete. Students usually have to pass comprehensive exams and complete a dissertation. These programs may require students to fulfill teaching responsibilities in addition to coursework. Some programs require students to have an additional minor, but, in general, these programs consist of core courses and electives and are highly customizable to help students explore areas of interest.

Certificates in Finance

Undergraduate and graduate certificate programs in finance are available in on-campus formats. These certificates may require between 12 and 24 credits, and many schools allow students to count credits from their certificate toward a full degree program. Several certificate programs in finance allow students to choose elective courses and/or choose between a couple of options for one or more courses. Some schools allow students to take a couple of additional courses to earn an advanced certificate in the field.

While finance may be offered as its own concentration area for other business-related degrees, such as a degree in business administration, there are a few bachelor's degree programs in finance that provide students with additional concentration areas. These concentrations may help prepare students for a specific finance-related career. Some programs require students to choose a concentration, second major, or minor to help focus their studies. Students typically take multiple courses in their chosen concentration area. Although concentration options may vary by school, a few options for bachelor's degree programs in finance include:

• Financial analysis
• Financial engineering
• Banking and financial services
• Value investing

Bachelor's degree programs specifically in finance usually have general education courses, core finance courses, and electives or courses in a chosen concentration. If students choose to pursue a business-related degree with a finance concentration, they may take additional core business courses. Some programs conclude with a hands-on internship experience to give students real-world experience at a financial organization and/or a capstone experience that may include a project or examination of case studies in finance. Core business finance courses for finance majors typically cover a broad range of finance-related topics, including:

• Microeconomics
• Macroeconomics
• Finance
• Corporate finance
• Investment and portfolio analysis
• Financial management
• Capital markets
• Banking
• Investment management
• Marketing

Most bachelor's degree programs in finance are expected to take 4 years to complete. Students may take longer to complete the program if they enroll part-time or take smaller course loads. Students who wish to complete their degree faster than 4 years may take extra classes each semester if allowed. Those who already have an associate degree and transfer in credit may be able to finish their bachelor's degree in as little as 2 years. Even without an associate degree, any transfer credit may help students finish their degree faster than 4 years.

Since finance falls under the field of business, many of these degree programs have two levels of accreditation. Many postsecondary institutions are accredited by a regional accrediting body, such as the Higher Learning Commission. This broad accreditation usually covers all of the diverse degree programs available at an institution and means that programs have met academic standards for quality. Accreditation at this level allows students to transfer credits, receive financial aid, and demonstrate credibility to employers.

Some bachelor's degree programs, including those in finance, are likely to have an additional level of accreditation that is more specific to the subject and/or industry. Bachelor's degree programs in finance may be accredited by business-related organizations, like the Accreditation Council for Business Schools and Programs (ACBSP), that provide more focused accreditation. These groups help ensure that business programs meet specific guidelines set to prepare students for careers in the industry. Earning an accredited degree from an accredited institution may help graduates stand out to future employers.

While specific license and certification requirements may vary based on position, many finance professionals pursue their Chartered Financial Analyst credential from the CFA Institute. In order to qualify for the 3-part certification exam, students must have at least 4 years of work experience or a bachelor's degree. Additional certifications specific to other areas of finance include the Certified Treasury Professional (CTP) credential from the Association for Financial Professionals and the Certified Public Accountant (CPA) designation from the American Institute of Certified Public Accountants (AICPA). Usually, these certifications and licenses require students to meet education and/or experience criteria and pass exams. Any finance professional, such as a financial analyst, who deals in securities typically needs a license from the Financial Industry Regulatory Authority (FINRA). This license may not be obtained until after being hired at an organization because it requires sponsorship by an employer.

Students wondering what you can do with a bachelor's in finance will be happy to know that there is a wide range of financial careers available. Those trying to figure out if a career in finance is right for them or what kind of career to pursue may want to think about their personal interests within the field and what kind of education and/or training is needed. For example, students wanting to become a finance specialist may need to meet different requirements than a financial analyst. In general, a bachelor's degree in finance is a great start for several finance-related careers, including job titles like:

• Financial manager
• Financial analyst
• Chief financial officer
• Treasurer
• Tax examiner
• Loan counselor
• Personal financial advisor
• Financial services sales agent

How to Become a Financial Manager

Students aspiring to become financial managers need to start the process by earning a bachelor's degree in finance, business administration, accounting, or another related field. Some of these managers may need to earn an advanced degree, depending on an employer's preferences. It is also usually required that these managers have at least 5 years of experience in the field. Therefore, they may begin their careers as financial analysts, securities sales agents, or in other finance-related positions. These professionals may earn their CFA or CTP credentials, but certification is not usually required.

Financial managers help organizations set financial goals and then implement policies and manage the financial activities of organizations to help reach those goals. They generally oversee staff, prepare financial reports, and advise management concerning financial decisions. These managers usually have job titles like treasurer, cash manager, or risk manager. As of May 2019, the U.S. Bureau of Labor Statistics (BLS) stated that financial managers made a median annual salary of $129,890. The job outlook for these managers was 15% from 2019 to 2029, which is much faster than the average.

How to Become a Financial Analyst

Financial analysts also usually need to have a bachelor's degree in finance, statistics, accounting, or other related fields. Depending on the position, some of these analysts may need to have professional licensure and/or certification in the field. For example, those who work with securities need a license from FINRA to sell financial products. These analysts usually advance in their careers with a master's degree and/or work experience.

Financial analysts are responsible for examining financial statements and providing guidance on investment decisions. They may work with organizations or individuals and usually study current economic and business trends, analyze financial data, and report their findings in written reports. Per the BLS, financial analysts made a median annual salary of $81,590, as of May 2019. These professionals had a job outlook of 5% from 2019 to 2029, which is faster than the average.

Many schools that offer bachelor's degree programs in finance also offer a variety of scholarships to majors in the field. These scholarships usually have different criteria for qualification and may be geared toward specific populations of students. Typically, students need to fill out their Free Application for Federal Student Aid (FAFSA) form each year to determine financial need and qualify for scholarships, and they may also be able to fill out a blanket scholarship application for the school or department. Other scholarships may have a separate application process. Some examples of finance-related scholarships at different institutions include:

• Field Family Scholarship- This variable amount award gives preference to finance or accounting majors at Oklahoma State University. Freshmen need an ACT score of 25 or greater and must have graduated in the top 10% of their high school class to be eligible. Sophomores, juniors, and seniors must have a 3.0 GPA or higher for eligibility.
• Glenda D. Kemple Scholarship- This scholarship is awarded to a female student studying finance and banking at the University of Missouri. Students must demonstrate academic merit and financial need. This scholarship is only available to students from Missouri or Texas.
• Bobby R. Simpson Scholarship- Finance majors at Baylor University can compete for this award if they have a 3.0 GPA or higher. Students must also have financial need and be involved in service activities.

With so many bachelor's degree programs in finance to choose from, students may want to begin by thinking about what type of degree they want to earn and any specific interests within the field of finance. For example, students wanting a broader education in the field of business may pursue a business administration degree with a concentration in finance, while those who are sure they want to focus their studies in finance may choose a BA or BS in the field. Students with an interest in a particular subfield of finance may search for a program that offers a concentration related to the area. Some students may also want to compare the culminating experiences available for a program; those wanting real-world, hands-on experience may search for a program with an internship or capstone project. Finally, students should try and select a program that holds program-specific accreditation from a business-related accreditation body to stand out to employers and ensure they are receiving a quality education in the field.

There are many professional organizations available to financial professionals. These organizations may have a slightly different focus on a specific area of finance but in general work to provide professionals with valuable resources and education/training opportunities to help advance the world of finance. Many of these organizations provide membership and volunteer opportunities. A few examples of professional organizations in finance include:

• CFA Institute- The CFA not only provides professional certifications for financial professionals, but it is also highly involved in the research, analysis, and advocacy of the field. The organization provides industry standards, local societies, and conferences and webinars to help professionals connect and grow professionally.
• The American Finance Association- The American Finance Association is the publisher of the renowned Journal of Finance and also hosts an annual meeting and different conferences for finance professionals. The group also provides access to historical textbooks for the field and gives awards to finance professionals.
• Society of Financial Service Professionals- The Society of FSP provides local networking and educational events as well as other benefits to members. The group is also responsible for the publication of the Journal of Financial Service Professionals.