Master of finance programs have become increasingly popular with graduate business students in recent years. These focused, efficient programs make a strong match for committed learners working toward careers in enterprise finance. They may also appeal to people seeking practical alternatives to MBAs.
According to the National Center for Education Statistics (NCES), more than 300 U.S. universities offer advanced degrees in finance-related academic areas. The availability of graduate-level finance programs speaks to their rising profile among career-oriented business students.
Advanced finance degrees equip learners with in-demand skills that remain relevant amid changing economic and labor market conditions. By earning this degree, you may forge an entry path to a stable career with solid pay.
This degree guide and ranking explain what master of finance programs have to offer. Discover detailed descriptions of top programs and practical details about the application and admission processes. Use the information and resources below to launch your program search and compare schools of interest.
Popular Online Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Our Master's in Finance Ranking
A master's in finance can lead to financial management positions across the globe. According to the ranking methodology outlined below, these five schools delivered the top master's in finance programs.
Learn about our ranking methodology
We use trusted sources like the National Center for Education Statistics to inform the data for these schools.
#1 Best Master of Finance Degrees
Hult International Business School
Cambridge, MA - 4 years
- Campus
Hult began as the Management Education Institute in Boston in 1964 and merged with London's Ashridge Business School in 2015. Along with Boston and London locations, the school maintains campuses in San Francisco and Dubai, plus rotation centers in New York and Shanghai. Hult offers six business programs at the master's level.
Master's in Finance
Hult International Business School's one-year master's in finance concentrates on corporate and international finance and leadership. The STEM-focused curriculum features core courses in business insights through data, data extraction and visualization, and fintech. Within each module, students complete a team challenge, a struggling business turnaround challenge, and a merger and acquisition challenge.
Enrollees can choose the Boston or London campuses for their core modules and explore other global campuses for electives and specializations. While on rotation, learners can complete city seminar electives with leaders of their chosen industries. Benefitting from a dedicated career services team and process, Hult boasts a 90% employment rate and a 58% wage increase for recent graduates.
Applying to Hult
Hult requires applicants to possess bachelor's degrees in business-related disciplines and English proficiency. They then establish an application profile for $95 and submit all required documents, including transcripts and a personal statement. Each candidate also completes a consultation and assessment interview.
Program at a Glance
- School Type: Private
- Accreditation: New England Commission of Higher Education (NECHE); Association to Advance Collegiate Schools of Business (AACSB)
- Tuition: $55,000/year
- Program Length: One year
- Delivery Format: On campus
Average Undergrad Tuition
In-state
$38,568
Out-of-state
$38,568
Average Graduate Tuition
In-state
$40,115
Out-of-state
$40,115
Retention Rate
94%
Acceptance Rate
45%
Students Enrolled
1,814
Institution Type
Private
Percent Online Enrollment
78%
Accreditation
Yes
#2 Best Master of Finance Degrees
Babson College
Wellesley, MA - 4 years
- Online + Campus
Babson began as a school of business administration in 1919. More than a century later, the school offers more than 15 executive education programs to over 3,300 students worldwide.
Master of Finance
The master's degree in finance at Babson College equips students with technical expertise, business and financial problem-solving skills, and professional ethics. The STEM-designated program features core courses in financial data analysis, corporate finance, and capital markets. Learners can access experiential learning via management consulting field classes and a course in which students manage the college's endowment funds.
Babson provides finance students personalized mentorship experiences and opportunities to connect with some of the industry's leading executives. In 2019, Babson opened a new finance lab with exclusive workshops and analytics tools. With assistance from the career development team and school alumni, Babson posts a 95% placement rate for those within six months of graduation.
Applying to Babson
The test-optional application process requires short answer questions, a letter of recommendation, transcripts, and a resume. Each candidate must pay the $100 application fee and may submit a personal essay if they wish. A video interview process typically occurs within 14 days of a submitted application.
Program at a Glance
- School Type: Private
- Accreditation: New England Commission of Higher Education (NECHE); Association to Advance Collegiate Schools of Business (AACSB)
- Tuition: $1,820/credit
- Required Credits: 30
- Program Length: 9-16 months
- Delivery Format: On campus
Average Undergrad Tuition
In-state
$54,144
Out-of-state
$54,144
Average Graduate Tuition
In-state
$89,550
Out-of-state
$89,550
Retention Rate
92%
Acceptance Rate
27%
Students Enrolled
3,340
Institution Type
Private
Percent Online Enrollment
79%
Accreditation
Yes
#3 Best Master of Finance Degrees
CUNY Bernard M Baruch College
New York, NY - 4 years
- Campus
Baruch was established in 1919 as the School of Business and Civic Administration and joined the City University of New York system in 1968. The school enrolls nearly 20,000 students across three schools and over 85 programs.
Master of Science in Finance
The master's in finance from Baruch College's school of business covers managerial and investment finance, along with financial theory. The program has a STEM designation and features core courses in econometrics, corporate finance, and investment analysis.
Part of the CFA Institute University Affiliation Program, the finance program can help prepare graduates for the chartered financial analyst (CFA) and financial risk manager certification exams. Students may also pursue elective courses and internships. Finance students can access the school's financial innovations lab, trading and financial markets research lab, and financial services center.
Applying to Baruch
Applicants need bachelor's degrees in any discipline for Baruch's holistic and test-optional admissions requirements. Each candidate must submit transcripts, professional letters of recommendation, two essays, and a resume, along with a $75 application fee.
Program at a Glance
- School Type: Public
- Accreditation: Middle States Commission on Higher Education (MSCHE); Association to Advance Collegiate Schools of Business (AACSB)
- Tuition: $470/credit in state, $855/credit out of state
- Required Credits: 30-39
- Program Length: One year
- Delivery Format: On campus
Average Undergrad Tuition
In-state
$6,930
Out-of-state
$14,880
Average Graduate Tuition
In-state
$11,090
Out-of-state
$20,520
Retention Rate
88%
Acceptance Rate
41%
Students Enrolled
19,740
Institution Type
Public
Percent Online Enrollment
100%
Accreditation
Yes
#4 Best Master of Finance Degrees
Florida State University
Tallahassee, FL - 4 years
- Online + Campus
FSU, founded in 1851, hosts more than 45,000 students, making it the oldest and one of the largest schools in the state. In 1950, FSU introduced its business school. Despite being one of the country's youngest business schools, it has more than 7,000 students in 15 degree programs.
Master of Science in Finance
Florida State University's master's in finance provides students with theoretical, analytical, and business foundations for financial decision-making. The program features courses in data analytics, risk management, and business conditions analysis. Students also take an investment course to manage more than $5 million in actual funds.
The master's program offers a standard track and a real estate specialization. Finance courses can also contribute toward the CFA and certified financial planner certifications. Students can access a simulation trading room for practical experience, along with supportive alumni and professional networks.
Applying to FSU
FSU requires a bachelor's degree and GMAT scores for entrance — unless the applicant possesses a 3.4 overall GPA or 3.2 GPA in finance courses. Each candidate also must submit transcripts, a CV, and three letters of recommendation, plus a statement of purpose and a $30 application fee.
Program at a Glance
- School Type: Public
- Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC); Association to Advance Collegiate Schools of Business (AACSB)
- Tuition: $479/credit in state, $1,111/credit out of state
- Required Credits: 32
- Program Length: Less than one year
- Delivery Format: On campus
Average Undergrad Tuition
In-state
$4,640
Out-of-state
$19,084
Average Graduate Tuition
In-state
$9,684
Out-of-state
$24,116
Retention Rate
95%
Acceptance Rate
32%
Students Enrolled
43,569
Institution Type
Public
Percent Online Enrollment
97%
Accreditation
Yes
#5 Best Master of Finance Degrees
Vanderbilt University
Nashville, TN - 4 years
- Online + Campus
Vanderbilt was founded in 1873 and now has 10 schools with over 13,000 total students. The school has more than 35 master's programs, including seven in its management school.
Master of Science in Finance
Vanderbilt University offers an accelerated and customizable master's in finance with up to 50% electives. Core courses explore essential fields like financial reporting, corporate valuation, and financial modeling. Enrollees can choose their remaining classes from 14 primary finance electives, allowing them to develop specialized skills.
Vanderbilt's finance learners can use the school's financial markets research center. They may also participate in a leadership development program, which identifies their underdeveloped areas and provides personalized coaching. Recent Vanderbilt graduates enjoy a 100% placement rate within three months of graduation with assistance from the career management center.
Applying to Vanderbilt
Each applicant needs a bachelor's degree, transcripts, and GMAT scores, while candidates with 3.5 GPAs or higher may receive test score waivers. Other requirements include a resume, two letters of recommendation, a written essay, and a video essay. The application cost is $100.
Program at a Glance
- School Type: Private
- Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC), Association to Advance Collegiate Schools of Business (AACSB)
- Tuition: $65,500/year
- Required Credits: 33
- Program Length: 10 months
- Delivery Format: On campus
Average Undergrad Tuition
In-state
$52,781
Out-of-state
$52,781
Average Graduate Tuition
In-state
$50,082
Out-of-state
$50,082
Retention Rate
96%
Acceptance Rate
12%
Students Enrolled
13,537
Institution Type
Private
Percent Online Enrollment
83%
Accreditation
Yes
Why Get a Master's in Finance Degree?
-
Focused Learning: Master of finance programs support your ongoing development into becoming an expert-level specialist, which appeals to employers. You can build deeper, more detailed knowledge of enterprise finance than you might acquire even in a finance-focused MBA program. -
Less Crowding and Competition: MBA programs attract many learners, leading to competitive admissions and crowded classrooms. With fewer learners seeking graduate degrees in finance, you may find the admissions process to be less stressful. You can also benefit from smaller class sizes, which provide more student-instructor interactions. -
Flexibility and Earning Potential: Master of finance programs support entry to specialized business careers with growth and advancement potential. Many of these careers offer appealing pay. You may also qualify for roles in other finance-adjacent areas, such as accounting or actuarial science.
What to Expect From a Finance Master's Degree
Master's programs in finance typically cover finance theory, financial analysis, and the investment-oriented study of financial markets. Assignments build targeted, practical skills in areas like business valuation and financial reporting methods and standards.
Coursework usually covers 30-36 semester credits, with schools often prioritizing efficiency. You can typically complete a master of finance degree in 10-16 months of intensive full-time study.
Schools offer master of finance programs in both face-to-face and online formats. Campus-based programs usually place students in cohorts, leading to excellent networking opportunities. Online formats maximize flexibility and allow you to balance your schooling with other commitments, even if you continue working while earning your degree.
Learn more about finance programs
Degree, Concentration, and Format Options
At the master's level, finance programs typically lead to master of science (MS) or master of finance (M.Fin.) degrees. You can also pursue an MBA with a finance concentration. However, these programs typically only dedicate elective classes to finance, while core coursework focuses on generalist business management topics.
In general, M.Fin. and MS programs appeal to students with strong, specific academic and professional interests in enterprise finance. Consider general or finance-concentrated MBA programs if you want to work in business management but have broader career goals.
Some schools offer concentrated master of finance degrees. Concentrated programs let you zero in on targeted finance specializations but may have longer completion timelines.
Common concentration options include:
- Asset management
- International finance
- Investment management
- Risk management
You can also explore program format and course delivery options beyond face-to-face and online learning. Hybrid models, which combine campus-based and online coursework, may appeal to you if you live within commuting distance of your school.
Online courses may feature asynchronous pre-recorded lectures or synchronous live meetings. Both options offer unique advantages. Asynchronous classes let you self-direct your learning schedule, which offers an ideal pathway for working students. Synchronous courses make it easier to engage with your classmates and receive answers from instructors in real time.
Admissions Process
Many master of finance programs have competitive admission processes. In general, though, they are considered less competitive than MBA programs — especially at high-profile or prestigious schools.
Strong candidates typically possess:
- Impressive undergraduate GPAs
- College-level coursework in statistics, probability, algebra, and/or other mathematical disciplines
- Personal profiles that line up well with professional success standards
Schools may consider a bachelor's degree in accounting, actuary science, business, finance, or mathematics an asset. However, graduate finance programs often accept applicants from diverse academic backgrounds.
Many institutions — including top business schools — continue to move toward test-optional admission policies. If standardized test requirements apply, they will usually seek GMAT or GRE scores.
Review our graduate application guide
Popular Finance Graduate Courses
Your curriculum depends on factors like your specialization and the program's underlying philosophy. Even so, most master's programs in finance cover a common set of core topics. Elective options also feature significant overlap from one school to the next.
With those caveats in mind, consider the following commonly offered courses:
-
Managerial Finance: In this course, students explore financial forecasting, capital budgeting, risk management, and strategies for optimizing corporate financial value. The course also explores the relationship between risk and return, providing insight into practical ways to maximize the reach and impact of a firm's financial holdings. -
Financial Markets: This course defines and builds knowledge of assets traded in various financial markets. Instructors typically cover securities, commodities, derivatives, and foreign exchange markets. Some programs may explore unconventional alternatives, such as cryptocurrency markets. -
Investing and Portfolio Management: Finance professionals play a leading role in investment selection and portfolio management. This course explores foundational corporate investment concepts, introducing ways to optimize returns while maintaining strong financial health. Finance programs may also cover trading strategies and asset pricing in this course. -
Principles of Enterprise Valuation: Corporations often need their finance teams to perform valuation analyses internally or on other businesses. This course, typically offered as an elective, introduces valuation best practices and builds student proficiency in applying them.
How Much Do Finance Master's Programs Cost?
NCES data from the 2021-22 school year specified the following tuition averages for various institution types:
- Public colleges: $12,596
- Private for-profit colleges: $14,161
- Private nonprofit colleges: $28,017
While you can use these figures as a general guideline, the actual cost of your program may vary according to factors like:
- School location, reputation, and prestige
- Whether you attend a public school as an in-state or out-of-state student
- Program and course delivery format
As you budget, remember to factor in additional costs. If you attend a campus-based program, these may include relocation, rent, transportation, and parking. If you study online, you should consider technology fees, software licenses, and computer equipment upgrades.
If you need financial aid, start by seeking scholarships and other non-repayable funding sources like grants. Use federal and private loans sparingly. The following resources offer more information:
Check out our financial aid guide
Learn more about accounting scholarships
Should You Get Your Degree Online?
Online education has made significant strides in recent years. Most colleges and graduate schools no longer distinguish between campus-based and online learning in transcripts and on diplomas. By studying online, you may also qualify for lower tuition rates while avoiding relocation, commuting, and parking expenses.
The advantages of online learning may come with trade-offs. Online learning demands more independence and self-motivation. It also exchanges some of the social and networking benefits of the traditional campus experience for increased convenience and flexibility.
Ultimately, it is up to you to decide whether your learning style and personal preferences make you a good candidate for an online education.
Finance Jobs and Salaries
People typically associate master of finance degrees with corporate roles in financial analysis and management. These common career options may offer advancement opportunities, potentially allowing dedicated professionals to reach the executive ranks. The C-suite chief financial officer role stands at the top of this path.
However, you can also pursue other opportunities with a master's degree in finance. The following list profiles some common and alternative roles to consider.
Financial Analyst
Mainly working in corporate settings, financial analysts perform duties related to financial forecasting. They recommend ways for employers to reduce costs, optimize spending, and improve investment returns. Financial analysts can also pursue professional certifications to enhance their job prospects.
- Job Outlook (2022-32): +8%
- Median Annual Salary (May 2023): $99,890
Wealth Manager
The advanced investment, trading, and financial market knowledge you can acquire in a master of finance program translates well to careers in wealth management. Wealth managers work for businesses and clients, helping them choose investments, optimize returns, and apply tax strategies.
- Job Outlook (2022-32): +16%
- Median Annual Salary (May 2023): $156,100
Management Accountant
Typically possessing certified management accountant (CMA) certification, these specialists offer expertise in accounting and financial strategy. Applying their advanced skills to tasks like budgeting and the financial aspects of business operations, CMAs typically hold high-level roles with executive potential. Pairing an undergraduate degree in accounting with a master's degree in finance may help you succeed on CMA certification exams.
- Job Outlook (2022-32): +4%
- Average Annual Salary (April 2024): $101,000
Actuary
Actuaries analyze and evaluate the financial costs associated with risk. Though they are primarily affiliated with the insurance industry, actuaries also work in corporate finance and investment. To enter this lucrative, fast-growing career path, you may need to pass rigorous certification exams.
- Job Outlook (2022-32): +23%
- Median Annual Salary (May 2023): $120,000
Should You Get a Master of Finance or Accounting?
Master of finance programs overlap with other business-focused graduate degrees, including graduate programs in accounting. As such, you may be unsure which to pursue — especially if you have not yet committed to a specific career path.
The following table compares master's degrees in finance and accounting.
| Key Factor | Master's in Finance | Master's in Accounting |
|---|---|---|
| Program Length | Typically 10-16 months | Typically 18-24 months |
| Credit Requirements | About 30-36 | About 30-36 |
| Topics Covered | Financial data analysis; financial theory and forecasting; investment and wealth management; financial market structures and trading strategies; risk management | Financial or managerial accounting; individual and/or corporate taxation; financial statement preparation and analysis; auditing; business law |
| Career Tracks | Financial analyst; wealth manager; investment analyst; actuary; securities, commodities, and financial services sales agent | Certified public accountant, certified management accountant, actuary, tax manager, compliance risk manager |
If you are interested in both accounting and finance, note that some schools offer dual master's degrees in both disciplines.
These programs may lead to business careers that demand advanced knowledge of both accounting and finance. They also offer excellent preparation for certification exams.
Learn the differences:
Finance vs. Accounting
MSF vs. MBA
Common Questions About Master of Finance Programs
What is a master's in finance?
A master of finance is a graduate business degree program focused on corporate financial analysis, financial forecasting, investments, and risk management. Professionals who aspire to careers in enterprise financial management often pursue these degrees.
How much does a finance master's program cost?
NCES data from the 2021-22 school year identified national average graduate school tuition rates of $20,513 per year for all degree types. Graduate students at public colleges paid an annual average of $12,596 in tuition and required fees, while learners at private nonprofit institutions paid an annual average of $29,931.
Can you get a finance master's degree online?
Yes — accredited and reputable schools offer master's degrees in finance through face-to-face and online learning. You can also enroll in hybrid programs that blend campus-based and e-learning.
Is a master's worth it in finance?
A master's in finance may put you in a strong position to earn excellent returns on your educational investment. Payscale data from April 2024 indicates that professionals with this degree earn an average base salary of $81,000 per year.
The insights on this page — excluding school descriptions — were reviewed by an independent third party compensated for their time by Accounting.com.
Page last reviewed April 22, 2024.
