Master's Degree in Finance | Admissions, Courses & Careers

Finance master's degrees set finance job candidates apart in the workforce and prepare them for professional certification, such as Chartered Financial Analyst.

A master's degree in finance provides advanced knowledge and skills in financial management, investment strategies, and economic analysis, making it a valuable credential for those looking to advance their careers in finance.

Here, we cover everything you need to know about graduate-level finance courses, specializations, careers, and financial aid tips to help you decide if earning a finance master's degree is right for you.

What Is a Master's Degree in Finance?

Even though most finance roles only require a bachelor's degree, a master's degree in finance ensures that you can sharpen your skills, change your career to finance, or have the credentials necessary for a promotion. It's best to earn it if you have or want a career in corporate finance, investment banking, asset management, or other financial sectors.

The curriculum covers topics such as financial analysis, investment strategies, corporate finance, risk management, and quantitative methods. These courses help students develop advanced analytical and decision-making skills, which are critical for roles that require managing financial resources, analyzing market trends, and making strategic investment decisions.

The program often includes practical components, such as case studies, internships, and financial simulations, allowing students to apply theoretical concepts to real-world scenarios.

The degree also serves as a strong foundation for those pursuing professional certifications like Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) or for those aiming for high-level positions such as financial analysts, portfolio managers, investment bankers, and corporate finance professionals.

Master's Degree in Finance Admissions Requirements

The admission requirements for a finance master's program vary slightly among the available programs. However, we've included a comprehensive list of what could be required to apply to any finance program.

a completed application form and paid fee
transcripts of your undergraduate degree and all other coursework that show you maintained a 3.0 GPA
GRE or GMAT scores
resume
personal essay
letters of recommendation
interview
evidence of English proficiency (for international students)

Types of Master's Programs in Finance

Master's programs in finance are available in various formats, each catering to different career goals and educational needs.

Master of Science in finance (MSF): focuses on technical and analytical skills, preparing students for careers in financial analysis, investment management, and corporate finance
Master of Business Administration (MBA) with a concentration in finance: combines broad business management education with specialized finance coursework, ideal for leadership roles
Master of Financial Engineering (MFE): emphasizes quantitative finance and financial modeling, preparing students for careers in risk management, trading, and quantitative analysis
Executive master's in finance: designed for experienced professionals who want to accelerate their career without having to put it on pause

Specializations in Master's Programs in Finance

If you are already in a specific finance career field or need to work toward one, you can choose a specialization in finance to better your career. Here are a few popular choices among students mastering in finance:

Investment management: focuses on portfolio management, asset allocation, and investment strategies
Corporate finance: emphasizes financial decision-making within corporations, including capital budgeting, corporate valuation, and financial strategy
Risk management: specializes in identifying, analyzing, and managing financial risks, including market, credit, and operational risks
Quantitative finance: concentrates on mathematical and statistical methods in finance, including financial modeling and algorithmic trading
Financial planning: prepares students for roles in personal financial planning, including retirement planning, estate management, and tax strategies

Master's Degree in Finance Coursework

The coursework varies according to which type of finance master's degree you earn. For example, some may include a capstone project, while others do not. Below, we've broken down the different types of courses you'll take.

MSF

Since this degree focuses solely on critical analysis of finances, the courses will reflect that. We've listed some courses below that you can expect to take in a Master of Finance program.

financial modeling
investment analysis
financial markets and institutions
financial statement analysis
valuation/mergers and acquisitions
quantitative analysis
equity analysis
portfolio management

Programs will leave room for elective courses to give students the opportunity to learn about a part of finance that they're interested in.

MBA in Finance

This degree develops students' leadership and management abilities. With the finance specialization, those skills are curated to the finance sector. The courses will combine business administration and finance.

corporate financial management
short-term financial management
investment analysis and portfolio management
managerial accounting
managerial finance
measuring success in an organization
strategic opportunity management

MFE

A Master of Financial Engineering focuses on using quantitative methods to analyze finances. Therefore, many of the courses will be on data analysis and application.

introduction to derivative securities
quantitative methods in finance
financial econometrics
stochastic models
optimization models and methods
continuous time models

Executive Master's in Finance

Because executive master's in finance degrees are for seasoned professionals, courses are going to build of the skills that students already have.

financial accounting and analysis
quantitative methods for finance
financial services, regulation, and ethics
financial modeling and valuation
economics analysis for decision making
corporate finance
financial planning and wealth management
big data and financial analytics
global capital markets and international finance
investment theory and applications
financial statement analysis
communication skills for executives

Cost of a Master's Degree in Finance

The cost of a master's degree in finance can vary widely depending on the institution, program format, and location. On average, tuition for these programs ranges from $20,000 to $60,000, with some prestigious programs potentially costing more.

Additional expenses may include textbooks, software, technology fees, and costs associated with standardized tests. Online programs may offer reduced costs compared to on-campus options, as they often eliminate expenses related to housing and commuting.

How To Pay for a Master's Degree in Finance

Use the following financial aid options to help pay for a master's degree in finance.

Apply for scholarships offered by your university or other organizations.
Utilize employer tuition reimbursement opportunities if your company offers it.
Use federal student loans, such as the Grad PLUS Loan, after filling out the Free Application for Federal Student Aid (FAFSA).
Use private student loans to cover the rest of the cost.

Careers With a Master's Degree in Finance

A finance master's degree allows you to pursue higher-up roles in the finance sector. Common job titles include:

Financial analyst: analyzes financial data to help businesses make informed investment decisions and optimize financial performance
Investment banker: assists corporations in raising capital, managing mergers and acquisitions, and providing financial advisory services
Portfolio manager: manages investment portfolios for individuals or institutions, focusing on asset allocation and investment strategies
Corporate finance manager: oversees financial activities within a corporation, including budgeting, forecasting, and financial analysis
Risk manager: identifies and manages financial risks within organizations, including market, credit, and operational risks
Financial planner: provides personal financial planning services, including retirement planning, tax strategies, and estate management

Learn more: Finance Career Tips

How To Choose the Right Master's Program

Since there are several different types of finance master's programs and since many universities offer these programs, ask yourself the following questions to help you choose the right program.

Is It Accredited?

Reputable finance programs will be accredited by the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP).

Is the Curriculum Beneficial for My Career?

If your goal is to become CFP- or CFA-certified, then make sure the program explains how the courses will prepare you. Also, keep in mind any specializations you want to pursue. Programs offering electives or specializations that match your interests can provide additional value and help you tailor your education to your career aspirations.

Will the Degree Format Match My Lifestyle?

Assess your personal schedule and responsibilities to determine the level of flexibility you need in a program. Consider whether the program offers part-time options, asynchronous learning, or accelerated tracks.

Flexibility is especially important if you are balancing your studies with work, family, or other commitments.

Tips for Applying To a Master's in Finance Degree Program

When applying for a master's degree in finance, there are several things you can do to strengthen your application.

Don't highlight just academic performance�also focus on internships and jobs experience.
Don't fill out the application as quickly as possible� take your time answering questions.
Develop a personal statement that truly reflects your communication skills.
Choose references that can speak to the skills and talents that graduate schools look for.
Clearly outline your goals for earning a master's in finance in your essay.

FAQs About a Master's Degree in Finance

If you need more information about this degree, we've answered some frequently asked questions below.

Is Getting a Master's Degree in Finance Worth It?

Yes, earning a master's degree in finance is worth it for those looking to advance their careers, gain specialized knowledge, and take on leadership roles in the finance industry. The Bureau of Labor Statistics shows that finance careers offer higher salaries and great job growth and security.

Can I Earn a Master's Degree in Finance Online?

Yes, you can earn a finance master's degree online. An online program is equal academically to on-campus options and will let you continue to work while earning the degree.

How Difficult Is Earning a Master's in Finance?

If you are good at math, and that is reflected in your test scores, then you will be comfortable in a finance master's program. Of course, the courses will take effort and time, but you will be able to do well in the program.