An online master’s degree in finance is designed to prepare students for more advanced finance roles, such as financial managers, planners or directors. This degree program builds on the knowledge students have developed while earning their bachelor’s degree, but it explores finance concepts and practices in greater depth. Many working professionals choose to pursue an online master’s in finance to advance their careers, and the program’s online structure means that students can often balance their education with their full-time work commitments. 

Earning an online master’s in finance can help prepare individuals for more advanced roles. There’s growing demand for advanced financial professionals like financial managers. According to the U.S. Bureau of Labor Statistics (BLS), financial manager employment should grow by 14.8% through 2034, which is much faster growth than the average across all occupations. That anticipated growth may be due to factors like the growing economy, increased business globalization and a greater focus on risk management, all of which require professionals who are experts in finance. 

Another advantage of this type of degree program is that it may help professionals qualify for positions that pay higher salaries. The BLS reports that the median annual wage for financial managers in 2024 was $161,700. Finance managers in professional, scientific and technical services industries earned a mean annual wage as high as $169,860. 

A master’s in finance can also lead to many career paths. Michael Ashley, business and finance expert and founder of Richiest.com, explained that the degree offers career versatility. “An online master’s in finance degree can open the door to a variety of career paths,” Ashley said. “Personally, it helped me secure a job at Wells Fargo, where I now work as a financial analyst. This degree can prepare you for roles in investment banking, financial planning, corporate finance, risk management and even positions like a chief financial officer. It equips you with the skills needed to analyze financial data, develop strategies and make informed financial decisions, making you a valuable asset to any financial institution or corporation.” 

What to expect in an online master’s in finance program

During an online master’s in finance program, you can expect to take coursework that examines financial concepts in depth. Common coursework topics for these programs include economics, account management, valuation and capital investments, capital management, international financial management and banking. Expect to explore tools and analysis techniques used in financial markets and institutions, and well as in government and corporate industries. 

In many programs, students can choose from several specialization options. “These might include investment management, financial planning, corporate finance, risk management and financial analysis,” Ashley said. “Choosing a specialization allows you to tailor your education to your career goals.” 

Experiential learning

Experiential learning opportunities, such as internships and research projects, are a major and important element of a master’s in finance program, too. “Experiential learning opportunities such as internships, research projects and case studies are incredibly valuable,” Ashley said. “During my online program, I completed an internship with a local investment firm, which provided hands-on experience and practical knowledge that complemented my coursework. These opportunities are essential because they allow you to apply theoretical knowledge in real-world settings, making you more marketable to employers. To maximize these opportunities, I recommend being proactive in seeking out internships, participating actively in any available projects and networking with professionals in the field.”

Career pathways for online master’s in finance graduates

Earning a master’s in finance can prepare students for many potential finance careers. Here are just a few possibilities: 

• Financial manager
• Investment banker
• Financial planner
• Corporate finance manager
• Risk manager
• Chief financial officer

These positions could bring rewarding salaries and encouraging career prospects. For example, the BLS projects that demand for financial managers should grow by 14.8% through 2034, and as of 2024, financial managers earned a median annual wage of $161,700. The BLS predicts that employment of financial analysts will grow by 5.7%, while the median annual wage for this profession is $101,350. The employment of top executives like chief financial officers should grow by about 4.3% according to the BLS, and the median annual wage was $206,420.

How to succeed in an online master’s in finance program

“Success in an online master’s in finance program requires discipline and effective time management,” Ashley said. He noted that staying motivated and effectively managing your time can be a challenge. “Unlike traditional programs, you might feel isolated since you’re not physically attending classes with peers,” he said. “To overcome this, I stayed engaged by participating in online discussions, joining study groups and regularly communicating with professors and classmates.”

These additional tips can help students navigate the online degree program. 

• Study tips: Ashley recommended staying organized by keeping a schedule of your coursework and deadlines. “Use online resources and textbooks to deepen your understanding of complex topics,” he said. 
• Time management tips: “Set aside specific times each day for studying to create a routine,” Ashley recommended. “Balance your workload by breaking down large tasks into manageable chunks.” Scheduling specific time into your day for your coursework can help you to continue progressing and keep you focused. 
• Test taking tips: When it comes to preparing for a test, Ashley suggested that you practice with past papers and online quizzes, familiarizing yourself with the exam format. “Understand the key concepts rather than just memorizing information,” he said. You can also form study groups with other students to prepare. 
• Experiential learning tips: Ashley encourages students to take initiative during internships and learning projects. “Ask questions, seek feedback and apply what you learn to real-world scenarios,” he said. When completing an online program, you may need to take an active role in identifying potential local internship opportunities. Start on this process early so you can secure a placement.  

Resources for students pursuing an online master’s in finance degree

Several resources can support you during your degree program. To start, consider joining professional organizations. “Joining professional organizations can provide networking opportunities, resources and industry insights,” Ashley said. “Being a member of these organizations can also boost your resume and provide access to certification programs and continuing education.”

Top finance professional organizations include: 

Scholarships and grants can help to keep your education costs down. When searching for scholarships, a database like FastWeb can help you to identify potential opportunities. Be sure to also reach out to your school’s finance and financial aid departments to learn about any scholarships or grants that might be available specifically for students. 

Your school can also be a valuable resource for tutoring and career counseling. Most schools give their online students access to their student support and career counseling departments. Be sure to use these resources and connect with the departments early on in your education, since these resources can help you successfully complete your program and secure a position after you graduate. 

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Wrapping it up

An online master’s in finance degree can prepare finance professionals for an array of potential careers, and it’s an excellent way to qualify for new opportunities. Online programs offer the flexibility that you need to manage your work schedule and your education, but it’s important to choose a finance program that will help you meet your career goals. 

Explore available online masters in finance programs today and take the next step toward making your career goals a reality. 

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