Inside Online Master’s Programs in Finance: Finding Your School

Author: Shannon Lee

Editor: Mark Earnest

Reviewer: Ryan Maestro

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Ryan Maestro

Ryan Maestro is a financial industry professional and author of WantFI, a financial resource dedicated to helping regular people understand the intricacies of personal finance. Ryan has been working in the financial services industry for ten years, first as a portfolio strategist at the asset management arm of a large bank and now at one of the largest bank holding companies in the world. Ryan holds a MS in Computational Finance, an MA in Economics and a BS in Mathematics. He has an extreme passion for investing and has 25 years of experience in the markets.

Updated: 05/05/2025

Are You Ready? What to Ask Before Your Master’s

Earning a master’s in finance — whether online, on campus, or hybrid — means a significant step in your career. Before submitting applications, however, it’s wise to pause and self-assess. Ask yourself the following questions first:

1. What are my career objectives in finance, and can a master’s degree help me achieve them?
2. Can I commit the necessary time and effort to succeed in an online graduate program?
3. Am I prepared for the quantitative coursework, such as advanced math and financial analysis, that a finance master’s requires?
4. How will I finance my degree, and is the potential return on investment worth it for me?
5. Does the online learning format suit my learning style and personal discipline?

Profiling Three Top Online Master’s in Finance

Cost of Master’s Degree in Finance

There are both fixed and variable expenses to consider with an online master’s degree in finance. Fixed costs cover tuition and mandatory fees that are usually charged per credit, though some programs offer a flat program rate.. Variable costs include textbooks, course materials, and any travel expenses if short on-campus residencies are required. 

Studying online can save you money on traveling, but there may be fees associated with the virtual learning platform you are using. Be sure to factor in the total cost beyond tuition charges and strive for every type of financial aid, scholarship, or employer tuition reimbursement you can receive to help manage the expense.

Note: Tuition figures are based on 2024–2025 rates and exclude additional fees. “Total Tuition” is calculated approximately for the full program.

Careers for Graduates with a Finance Master’s

When you earn a master’s degree, you can unlock advanced career opportunities across the financial sector. For students already working in finance, this degree can accelerate promotions by preparing you for leadership responsibilities. If you are a career-changer, a master’s degree in finance provides the specialized knowledge needed to break into roles that might be hard to attain with just a bachelor’s degree.

Many financial master’s degree graduates step into analyst roles, assessing investments and guiding business decisions. With experience, you might advance to manage portfolios or become a manager overseeing an organization’s financial strategy. The degree also opens doors to specialized areas. You could become a risk manager focused on financial mitigation or move into investment banking to help companies raise capital and handle mergers and acquisitions. 

Some graduates can leverage their expertise in personal finance careers, becoming advisors or wealth managers for individual clients. If you’re aiming for the C-suite, an MS in Finance can be a stepping stone toward roles like Chief Financial Officer, especially when combined with experience. 

Overall, an advanced finance degree signals a high level of expertise and can accelerate your path to positions with more responsibility and pay.

Common Sense Questions for the Finance Master’s

Do I need an undergraduate degree in finance to pursue a master’s degree in that subject?

No. Most programs welcome students from many academic backgrounds. Admissions committees will look for evidence of quantitative skills in your transcript or test scores to ensure you can handle the coursework. If you didn’t study finance as an undergrad, you might need to brush up on fundamentals like accounting or economics, but with some preparation, even students from unrelated fields can succeed in a finance master’s degree program.

Which is better for my career: a master’s degree in finance or a master of business administration degree?

It depends on your career goals. A Master of Finance is ideal if you want advanced knowledge and plan to work in financially focused roles. An MBA covers broader business topics beyond finance, so it’s better if you’re aiming for general management or executive leadership positions. One advantage of the MSF is that it typically takes less time and dives deeper into the specifics of the financial world.

Can I work full-time while earning an online master’s in finance?

Yes, and many students successfully juggle both work and an online master’s program. Online programs are designed for working professionals. Much of the coursework is asynchronous, meaning you can study during evenings or weekends at your own pace. Even if there are occasional live video classes, they usually take place after standard work hours and are often recorded for later playback. 

Balancing a full-time job with grad school is challenging, but it’s manageable with good time management and self-discipline. You’ll likely need to dedicate a big portion of your free time to coursework.

Are online finance degrees respected by employers?

Yes — as long as your degree comes from an accredited school. These days, many top universities offer online master’s programs, and employers increasingly recognize their quality. Surveys show that the vast majority of employers view online degrees as equivalent to traditional degrees. In most cases, your diploma doesn’t state that it’s “online” anyway. 

An online master’s degree in finance from a good university carries weight with employers. What matters most to them is the reputation of the institution and the skills you bring to the role they want filled. Completing a rigorous online program while balancing work and other responsibilities also demonstrates your work ethic and self-motivation.

Do I need to take the GRE or GMAT to apply, and can it be waived?

That varies by program. Many finance master’s degree programs still require a GMAT or GRE score, but some will waive it for qualified applicants, and others don’t require a GRE or GMAT at all. Often, if you have a high undergraduate GPA or significant work experience, you may qualify for a waiver. 

Always check each school’s admissions requirements: if a test is mandatory, you’ll need to take it, but it may be optional or waivable. And, just remember that there are plenty of accredited programs that don’t insist on test scores.

Ranking Online Master’s Programs in Finance

We’ve ranked the top online master’s degree in finance programs using data from the U.S. Department of Education and school-provided information. Our methodology looked at key factors such as tuition costs, financial aid availability, accreditation, and student support services. The result are standout programs that blend quality, flexibility, and career-focused outcomes for students. Whether you are seeking the most affordable option or a prestigious program with great networking opportunities, this ranking will help you find the right fit.