Master's degrees in finance cover advanced financial data analytics, financial markets, and investment strategies, preparing students for various finance careers. These programs are also becoming increasingly popular among students.
According to the 2024 Application Survey from the Graduate Management Admission Council (GMAC), 64% of U.S. master's in finance programs had an increase in applications year over year.
Explore the best master's degree in finance, what to expect, and potential jobs after graduation.
Popular Online Master's Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Our Master's in Finance Ranking
Why Get a Finance Master's Degree?
Strong Earning Potential
GMAC's Corporate Recruiters Survey 2023 reported a median starting salary of $85,000 per year for master's in finance graduates. That figure may rise significantly with more experience: Financial managers earn a median salary of more than $161,700 per year, according to the U.S. Bureau of Labor Statistics (BLS).Positive Hiring Trends
GMAC's survey found consistent increases in overall hiring of master's in finance graduates since 2018. It also found that 90% of U.S. employers who hired master's in finance graduates in 2023 recruited as many or more new finance professionals.Excellent MBA Alternative
GMAC found that in 2024, full-time two-year MBA programs in the United States received a median of 443 applications while master's in finance programs attracted only about one-third as many. Reduced competition for limited slots makes master's in finance programs more accessible while arguably delivering more relevant training for finance careers.
What to Expect From a Master's Degree in Finance
Master's programs in finance explore finance theory, financial analysis, and investment strategy. Some curricula also cover business valuations, mergers and acquisitions, and other specialized topics. Learning objectives mainly focus on optimizing organizational finances, analyzing and managing risks, and advanced investing concepts.
Schools often structure their master's in finance programs for efficiency: Completion timelines generally fall in the range of 10-16 months, and curricula usually cover about 30-36 semester credits or the equivalent. Pacing tends to be intensive, but this approach facilitates quick workforce reentry.
Degree, Concentration, and Format Options
You can choose from a master of science (MS) or master of finance (M.Fin.) degree designation. MS and M.Fin. programs tend to cover similar core concepts, with both degrees leading to comparable careers.
You can also pursue an MBA with a finance concentration. M.Fin. and MS programs in finance prepare you for targeted professional tracks, and an MBA might have more appeal if you have broader or more generalized goals for your business career.
Some master's programs in finance offer concentrations in areas like:
Capital markets
Corporate or international finance
Real estate
Risk management
You can also pursue highly specialized concentrations in areas like climate and social impact finance. Concentrated programs may involve additional coursework, which can extend your degree completion timeline. However, specializations can also help you qualify for careers that closely align with your personal interests or values.
You can choose from face-to-face, online, and hybrid formats. Campus-based programs often use a cohort structure that offers excellent peer networking opportunities. Online and hybrid formats maximize scheduling flexibility and efficiency, making them a good match for working students.
Online finance programs may use synchronous or asynchronous course delivery models. Synchronous classes follow set schedules and take place in real time, offering more peer and faculty access. Asynchronous classes involve pre-recorded lectures and set due dates, allowing you to complete your coursework when convenient.
Admissions Process
Master's in finance programs tend to receive fewer applications per seat than MBA programs, according to the GMAC. Even so, admissions processes are usually competitive. For your application to succeed, you will need to closely match the school's preferred student profile.
For master's programs in finance, this generally includes:
A four-year bachelor's degree, ideally in a relevant subject such as accounting, business, or finance
A strong record of academic achievement
Upper-level college coursework in mathematics (especially algebra, probability, and statistics)
Educational institutions that require tests usually ask for GMAT scores or GRE scores. Relevant professional experience may also strengthen your application.
While schools may favor applicants from related academic backgrounds, many also welcome applications from a diversity of undergraduate majors if you have a promising profile and the required coursework.
Popular Finance Graduate Courses
To earn your master's degree in finance, you will need to complete about 10 to 12 specialized courses. Programs typically include both core (required) courses that all students must take, plus electives that offer customization options.
Examples of courses you may encounter include:
Global Financial Markets: This core course defines and builds knowledge of the assets and asset classes traded in financial markets around the world. Examples include bonds, commodities, equities, and derivatives. Some programs also explore emerging and less conventional financial instruments, such as cryptocurrencies and alternative assets.
Applied Investment Management: In this required course, students learn about the expanding set of investment opportunities available in a world increasingly powered by financial technologies. Content considers both conventional and emerging approaches to investment management. Some schools engage students in managing live investment funds or institutional endowments.
Financial Data Analytics: Students in this elective examine processes and strategies for using technological tools in the advanced analysis of financial data. Coursework emphasizes applied analytics, looking at how data analysis can uncover novel opportunities and inform investing and financial management decision-making.
Enterprise Valuation: This course teaches students how to analyze financial statements to quantify a company's financial value. Instructors may also consider alternative forms of data, such as consumer sentiment and industry-related trends. In generalist programs, this course is usually an elective but may be required in corporate finance concentrations.
How Much Do Finance Master's Programs Cost?
According to the National Center for Education Statistics (NCES), graduate students paid the following average costs in tuition and required fees in the 2021-22 school year:
Public institutions: $12,596 per year
Private for-profit institutions: $14,161 per year
Public nonprofit institutions: $29,931 per year
Private institutions of all types averaged out to $28,017 in annual costs, while the overall average for both public and private schools worked out to $20,513 per year.
For help meeting your educational costs, look first to scholarships, fellowships, and grants — these do not require repayment and will not generate debt. The links below offer more information on how to pay for graduate school:
Finance Jobs and Salaries
Master's degrees in finance lead most directly to analytical and managerial roles in enterprise finance. At the entry level, these include budget analyst and financial analyst positions. As your career grows, you could pursue a financial manager role or strive to reach the C-suite as a chief financial officer.
Consider these career paths, which profile a curated selection of popular and high-growth jobs available to finance specialists:
Financial Analyst
Financial analysts examine internal, industry, and financial market data to extract operational insights and identify growth opportunities. Occupying mid-level roles in finance departments, analysts also look into ways organizations can use their financial resources to advance their short-term and long-term goals. Their duties also include studying broader trends and producing written reports.
Job Outlook (2023-33): +9%
Median Annual Salary (2024): $101,910
Source: BLS
Financial Manager
These senior finance department leaders guide financial decision-making. They select investments and capital deployment projects, track and analyze their organization's financial standing, and liaise with upper management in advancing long-term organizational goals. Financial managers also directly supervise junior finance personnel.
Job Outlook (2023-33): +17%
Median Annual Salary (2024): $161,700
Source: BLS
Management Accountant
Certified management accountants (CMAs) strategically leverage their accounting expertise, helping employers navigate legally compliant financial reporting techniques to maximum organizational advantage. The role involves certification from the Institute of Management Accountants. Combining a bachelor's degree in accounting with a master's degree in finance makes an excellent educational background for aspiring CMAs.
Job Outlook (2023-33): +6%
Average Annual Salary (March 2025): $102,000
Financial Advisor
Wealth managers help guide the investment and personal financial management decisions of high-net-worth individuals. They recommend investment vehicles, build balanced and risk-managed asset portfolios, and assist in tax and estate planning. An alternate job title is financial planner.
Job Outlook (2023-33): +17%
Median Annual Salary (2024): $102,140
Source: BLS
Should You Get a Finance Master's or a General Accounting Master's?
Finance and accounting overlap and students with interests in both areas sometimes find it difficult to choose between the two. The following table explores key features of master's degrees in finance and accounting, highlighting similarities and differences:
| Key Factor | Master's in Finance | Master's in Accounting |
|---|---|---|
| Core Academic Concepts | Financial analysis and modelingRisk analysis and managementCapital marketsInvestment vehicles and management; Corporate valuation; Mergers and acquisitions | Generally accepted accounting principles; Financial reporting and documentation; Auditing and forensic accounting; Accounting information systems and data analytics; Professional ethics |
| Credit Requirements | 30-36 | 30-36 |
| Typical Completion Timelines (Full-Time Study) | About 1-2 academic years | About 1-2 academic years |
| Concentration Options | Corporate finance; International finance; Investment management; Real estate | Accounting data analytics; Auditing; Financial analysis and reporting; Taxation |
| Career Paths | Budget analyst; Financial analyst; Financial manager; Investment banker; Personal financial advisor | Actuary; Certified management accountant; Certified public accountant; External or internal auditor; Staff accountant |
A master's degree in finance might make a better match if your career plans focus on banking, capital markets, enterprise financial management, or investing.
If you are more interested in financial tracking and reporting, auditing, fraud detection, taxation, and certified or licensed accountancy careers, consider a master's in accounting instead.
Learn the differences:Finance vs. AccountingMSF vs. MBA
Selecting the Right Graduate Program
Many reputable schools offer master's degrees in finance, and narrowing down your options can be challenging. As you evaluate programs, prioritize the features most important to you and your career plans. These may include:
Concentration Options: If you want to specialize in a finance subfield, seek out programs with aligned learning opportunities.
Student Outcome Data: Look at student outcome data related to employment rates and average starting salaries. If this information is not publicly available, request it from the school.
Format and Enrollment Options: If you need flexibility, you may want to prioritize programs that offer online or hybrid learning, and programs that support part-time enrollment.
Also, consider whether the program is accredited, which can signal higher academic quality. The Association to Advance Collegiate Schools of Business and the Accreditation Council for Business Schools and Programs are two accreditors of graduate finance programs.
Common Questions About Finance Master's Degrees
A master's degree in finance offers the most direct, detailed, and relevant training. However, you can also consider MBA programs with a finance concentration, master's programs in accounting, and master of science in management programs.
