The field of finance has been a focal point of the global business community since the crippling economic recession that began in 2008. Finance is also one of the most popular fields of MBA specialization among today's business students; a 2016
survey of prospective MBA students found that about 23 percent of men and nearly 14 percent of women planned a finance specialization as part of their graduate studies.
Graduates with an
online MBA in finance see not only greater financial rewards than those in most other business specialties, but increased job satisfaction as well. Midcareer professionals with a finance MBA earn an average salary of about $109,000, according to
PayScale, an online salary database.
An online finance MBA degree program can provide professionals with the quantitative, analytical and communication skills needed to become a business leader.
Additionally, an MBA in finance online program offers optimal flexibility for students who are also working professionals. Web-based programs typically follow the same rigorous curricula as brick-and-mortar options, leading to similar advancement opportunities for graduates. The online format is also ideal for students who must tackle additional commitments – such as child or family care – on top of their work and class schedules.
What is the difference between an MBA in finance and a master's in finance?
A Master of Finance degree is geared toward students who are interested in nonmanagement careers related to corporate finance. The curriculum for this option is typically grounded in areas like economic theory, computational analysis and investment banking.
The MBA in finance also addresses these topics, but the curriculum is usually aimed at students with corporate experience who plan to pursue business leadership roles.
How long does it take to earn an online MBA in finance?
The duration of an MBA in finance degree program varies among schools. Most standard programs span 36 to 60 credits and can be completed after one to three years of full-time study.
Alternatively, accelerated programs consist of lower credit loads – typically around 15 to 30 total credits – and can be finished in as little as 12 months. Accelerated programs, where students progress at a faster pace by taking more credits at once, typically involve more condensed curricula and more advanced coursework.
How much does an online MBA in finance cost?
Like program duration, the overall cost of an MBA in finance depends on the school. On the low end, tuition at some schools costs $500 per credit; the most expensive options include per-credit charges of $1,500 and higher.
State residency may affect the price tag; out-of-state students may pay more than $500 more per credit than their in-state counterparts. Students should expect to pay at least $25,000 for their finance MBA – but some degree options total more than $100,000 in tuition and expenses.
Online MBA in finance admissions requirements
Since the MBA is geared toward students with a background in corporate employment, many programs will only admit candidates with at least one or two years of work experience. Additionally, schools often require students to submit scores from the GMAT exam as part of their application; score minimums vary by school, and some do not require a GMAT score at all.
Choosing an accredited online MBA in finance
Accreditation status is one of the most important considerations for prospective students. Colleges and universities in the U.S. receive accreditation from agencies recognized by the U.S. Department of Education; the accreditation process involves an extensive review of a school's educational programs and student services.
A school's accreditation impacts course credit transferability, as well as student eligibility for federal financial aid, so students should ensure the school offering the program has earned national or regional accreditation.
The
Association to Advance Collegiate Schools of Business is one of the world's longest-serving and most widely recognized accrediting bodies of business schools. Online MBA programs with AACSB accreditation have undergone rigorous review by the association.