Are you considering pursuing a degree in finance to embark on a more promising career? Have you considered the type of degree you’d like or need to pursue? Earning a finance degree can be the first step towards securing the job and career of your dreams, but some jobs require more education than others, and without the right type of finance degree some of those opportunities may not be available to you. In this article we will describe the various types of finance degrees in some detail, and show you how online schools of finance can help you get started.
Online Schools Finance: Does the Type of Finance Degree Matter?
As mentioned briefly above, a finance degree can be very instrumental in obtaining a great job. Many graduates of finance go on to work as stockbrokers, financial planners, fund managers and chief financial officers (CFOs) at some of the world’s largest and wealthiest corporations. However, while an undergraduate degree in finance may allow you to get your “foot in the door,” you will normally need a more advanced degree to be promoted to the management level—the level that typically offers the higher-paying positions in exchange for more responsibility.
Online Schools Finance: 3 Types of Finance Degrees
The following is a description of the 3 most popular types of finance degrees and the qualifications you’ll need to be considered for each:
- Bachelor of Finance. The Bachelor of Finance is the undergraduate degree option, and the most popular in the finance discipline. This is a challenging business program through which students will learn the basics of finance—both theory and practice. Requirements for entering this program are usually determined by the Department Chairperson, but in most cases a grade point average of 3.0 in all related coursework is usually the standard.
- Master of Finance. The Master of Finance is a graduate level program in which students will learn the knowledge and skills associated with advanced finance theory and methodology. Most banks, brokerage houses, corporations, etc. will require a Master of Finance degree as a prerequisite for advancing into a management position. Requirements for the Masters of Finance program will vary depending on the institution, but usually, at minimum, admittance requires a bachelor degree in finance or a related field, in which the student has performed to a high standard.
- MBA with a Concentration in Finance. The Masters of Business Administration with a concentration in finance is also a graduate level program; however, this program is substantially longer and generally more demanding in terms of coursework. Instead of focusing merely on finance, as the Masters of Finance degree does, the MBA with a concentration in finance involves extensive training in management theory and practice in addition to finance-related course work. Requirements for admittance into this program are usually very similar to the requirements for the Masters of Finance.
Bolder students can take their education a step further even and opt to pursue a finance degree at the doctoral-level. Needless to say, these programs are ultra-difficult and typically lead to teaching positions at institutions of higher-learning and research.