By Jennifer W. Eisenberg
December 2019
The most valuable asset of any business is its savvy leader. If that leader is possessed with skills of sound financial management, the business will be well-suited to survive and to thrive. If you wish to be that kind of leader, you have likely already been considering obtaining a master’s degree in finance. A master of science or master of business administration degree will strengthen your core knowledge in business and will also afford many opportunities to hone your leadership abilities. You have no doubt observed that the demand for those with an advanced degree is accelerating. Job titles available to those with a masters in finance or an MBA include financial analyst, financial advisor, operations analyst, investment banker, budget analyst, and business analyst.
The Bureau of Labor Statistics projects a 10% overall growth in business and financial occupations by the year 2026. This healthy increase is attributed to a new globalized economy, greater use of market research, and tax regulations. To help you take advantage of the new opportunities available with an advanced degree, you should consider online schooling. You will save money, of course, by staying in your own surroundings. The benefits, however, are more than financial. You will be able to work within your own schedule while maintaining your day-to-day obligations.
Here are a few job titles with accompanying median annual salaries (BLS figures): market research analyst, $63,230; accountant, $64,350; budget analyst, $75,240; and financial analyst, $84,300.
The schools reviewed in this list have been thoroughly researched and ranked according to the charts shown below. Where a tie occurs in points, weight is given to a lower tuition cost.
Cost per Credit Hour:
- $700 and under – 5 points
- $1,000 and under – 4 points
- $1,200 and under – 3 points
- $1,400 and under – 2 points
- Above $1,400 – 1 point
Payscale.com Salary Report Ranking
- 50th and below – 5 points
- 100th and below – 4 points
- 200th and below – 3 points
- 300th and below- 2 points
- 500th and below – 1 point
Graduation Rate Ranking
- 90-100% – 5 points
- 80-89% – 4 points
- 70-79% – 3 points
- 50-69% – 2 points
- Under 50% – 1 point
Regional Accreditation: 5 points
US News & World Report Ranking: 3 points
#1 – Boston University
Boston, Massachusetts
Online Master of Science in Financial Management
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $905
Payscale Salary Report: 92nd
Graduation Rate: 85%
Points: 23
Website
Boston University offers a 40 credit hour, online master of science in financial management that has two concentrations: international finance; and investment analysis. Core required courses are financial and managerial accounting, financial regulation and ethics, qualitative methods of finance, and corporate finance. Submit application essay and transcripts, but no GRE scores. Online resources featured by Boston University for students enrolled in their online MS in financial management include easily ordered textbooks from the campus bookstore, access to university libraries, and online tutoring. The program is ranked #11 by US News and World Report in its Best Online Graduate Business Programs (excluding MBA).
#2 – Georgetown University
Washington, District of Columbia
Master of Science in Finance Online
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $2,379
Payscale Salary Report: 25th
Graduation Rate: 94%
Points: 22
Website
Georgetown University’s online master of science in finance is a part-time or full-time program that includes on-campus orientation, a weeklong opening residency in October of Year One, a capstone global consulting project residency, and a global trip residency in May of Year Two. To apply, submit an application essay, evidence of a minimum 3.0 GPA, GRE/GMAT scores, transcripts, letters of recommendation, resume, and $175 fee. The online MS in finance at Georgetown University has six core courses and five elective courses and is ranked #5 by US News and World Report in its Best Online Graduate Business Programs (excluding MBA).
#3 – Saint Joseph’s University
Philadelphia, Pennsylvania
Online MS in Finance
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $1,075
Payscale Salary Report: 178th
Graduation Rate: 79%
Points: 20
Website
Saint Joseph’s University has an online master of science in finance degree that is a 30 to 41 credit program. The following core courses are required: shareholder value management; financial institution and capital marketing; and portfolio management. Seven elective courses must be selected from the list of fifteen. To apply, submit transcripts, resume, two letters of recommendation, personal statement, GMAT/GRE scores, and a $35 fee. US News & World Report ranked Saint Joseph’s University’s online MS in finance program as #30 in its Best Online Graduate Business Programs (excluding MBA) for 2019.
#4 – University of Massachusetts-Lowell
Lowell, Massachusetts
Online Master of Science in Finance
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $655
Payscale Salary Report: 42nd
Graduation Rate: 56%
Points: 17
Website
The University of Massachusetts Lowell has developed a 100% online master of science in finance degree that is a 30-credit hour, 10-course program. The five required courses are corporate finance, financial statement analysis, security analysis and portfolio management, financial derivatives, and international financial management. Five courses must be chosen from the list of electives. Online course support is 24/7. The application process for the University of Massachusetts Lowell’s online MS in finance calls for transcripts, statement of purpose, three letters of recommendation, GRE/GMAT (waivers are available), and a $50 fee.
#5 – West Texas A&M University
Canyon, Texas
Online MS in Finance and Economics
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $637.54
Payscale Salary Report: Not listed
Graduation Rate: Not listed
Points: 16
Website
West Texas A&M University has a student-centered master of science in finance and economics online that is a 36 credit hour program. Twenty-one hours in core courses must be taken from the following seven areas: theory of households and firms; monetary and fiscal policy; corporate governance; corporate finance; asset valuation; quantitative analysis; and international (finance and economic development). To apply, submit transcripts showing a minimum 3.0 GPA, three letters of recommendation, resume, and statement of goals. US News & World Report ranked West Texas A&M University’s online MS in finance and economics program #26 (tie) in its 2019 Best Online Graduate Business Programs (excluding MBA).
#6 – Florida Institute of Technology-Online
Melbourne, Florida
MBA in Finance Online
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $896
Payscale Salary Report: 204th
Graduation Rate: 57%
Points: 13
Website
The 100% online master of business administration in finance degree offered by Florida Institute of Technology is a 36 credit hour program, consisting of 21 hours in core courses, 12 hours in specialization courses, and one 3-credit hour capstone course. Specialization courses include financial markets and institutions, investment management, portfolio management, and financial management policy. The capstone course is strategic management. Florida Institute of Technology has minimal requirements when applying for their online MBA in finance degree. GRE/GMAT scores are not needed nor is a fee. Simply fill out the online application.
#7 – University of Dallas
Irving, Texas
Online Master of Science in Finance
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $1,250
Payscale Salary Report: 282nd
Graduation Rate: 70%
Points: 12
Website
Calling itself “The Catholic University for Independent Thinkers,” the University of Dallas has designed a 33 credit hour, online master of science in finance degree that can be completed in 1-2 years by taking two courses per semester. Ten courses are required, and the topics include portfolio management, data analysis for decision making, international finance markets, corporate valuation, and intermediate managerial finance. The University of Dallas boasts that this online MS in finance program covers all the areas of finance that are required for CFA Level 1 Exam. Admissions asks for transcripts, a current resume, and a $50 fee.
#8 – Suffolk University
Boston, Massachusetts
Master of Science in Finance Online
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $1,171
Payscale Salary Report: 394th
Graduation Rate: 57%
Points: 11
Website
Founded in 1906, Suffolk University is a private research university located in downtown Boston with the school motto, “Honesty and Diligence.” The school boasts a 100% online master of science in finance degree that diverges into three concentrations: corporate finance; risk management; and investments. The curriculum includes the courses of applied risk management, theory of corporate finance, and options and futures. Admission to the online MS in finance program at Suffolk University calls for transcripts, an up-to-date resume, goal statement, letters of recommendation, and a $50 application fee.
#9 – University of Miami
Coral Gables, Florida
Master of Science in Finance Online
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $2,100
Payscale Salary Report: 309th
Graduation Rate: 82%
Points: 11
Website
The University of Miami’s online master of science in finance is a 32 credit program, comprised of 8 courses, taken one at a time, and each with a completion time of seven weeks, for a total of 16 months. As part of support and networking, students may view a panel discussion with two business program alumni as they share their own online learning experiences. Coursework includes intermediate corporate finance and investments, international investments and valuation, derivatives for financial modeling, and advanced portfolio management and alternative investments. Application to the online MS in finance degree from the University of Miami requires transcripts, letters of recommendation, and a fee of $85.
#10 – University of Colorado Denver
Denver, Colorado
MS in Finance and Risk Management Online
Regional Accreditation: Yes
Online Hourly Tuition (out of state, where applicable): $1,378
Payscale Salary Report: 417th
Graduation Rate: 46%
Points: 9
Website
The University of Colorado Denver’s online, 30 credit hour master of science in finance and risk management degree has five specializations: economics; risk management and insurance; commodities; financial analysis and management; and general finance. Curriculum topics include financial management, macroeconomics and financial markets, quantitative methods for finance, survey of financial and commodity derivatives, and investment management analysis. Application requires transcripts, GRE/GMAT scores, four essays, resume, and $50 fee, but no work experience or formal business education. The online MS in finance and risk management at the University of Colorado Denver is a full-time or part-time program.
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