Bachelor’s in Finance Program Guide
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Finance professionals play a crucial role in supporting the financial health of our economy. They handle the money for individuals and organizations and offer decision-influencing financial advice and analysis. Finance specialists become even more important during extreme economic events, like recessions and inflationary periods.
Along with the quality of positions, finance professionals enjoy access to over 910,000 business and financial occupation openings each year, as per the Bureau of Labor Statistics (BLS). It's for these reasons that a finance degree has become one of the most popular types of business degree.
In this guide, we explore finance degrees in detail, highlighting what they look like and where they lead.
Should I Get a Finance Degree?
Students who possess a critical, analytical mind and are interested in the markets and balance sheets may find a fulfilling career in finance. Success in this field also requires good communication skills, a strong business acumen, and the ability to see setbacks as challenges.
Graduates with a bachelor's degree in finance will find that career demand varies by field. For example, the BLS projects that jobs for financial analysts will grow by 8% from 2023-2033, which is faster than the average employment growth rate for all occupations. In contrast, the projected employment growth for management analysts and market research analysts is 10% and 13%, respectively.
A bachelor's degree in finance requires about 120 credits and takes four years of full-time enrollment to complete. However, some schools offer accelerated tracks that can reduce the time to completion. Additionally, many programs allow students to transfer up to 90 credits from another institution.
Employers may prefer or require certification for some positions in finance. Several programs help students prepare for these certification exams. A few examples include certified management accountants (CMA), certified public accountants (CPA), certified financial planners (CFP), and chartered financial analysts (CFA). CPA candidates must complete 150 college credits to apply for licensure.
Students interested in sitting for the CPA exam may consider earning a graduate degree. Individuals who wish to pursue leadership roles, such as corporate controller or chief financial officer positions, may also find that a master's degree offers greater opportunities.
What Will I Learn in a Finance Bachelor's Program?
Students earning a bachelor's degree in finance learn about planning, forecasting, and investing. They also develop skills to evaluate financial statements, cash flows, and security markets. Learners apply these concepts to portfolio allocation and corporate, entrepreneurial, and international finance.
Students can earn a bachelor of science (BS) or a bachelor of arts (BA) in finance. A BA offers a general education that incorporates language, psychology, history, and science classes. BA programs are best suited for students considering graduate school. In contrast, a BS in finance usually includes fewer general education courses and prepares students to enter the workforce directly after graduation.
While all degree programs differ, some of the typical courses students may expect include accounting principles, financial institutions and markets, investments, and risk management. Many finance programs also offer concentrations that allow learners to direct their education toward their career goals.
| Concentration | Description |
|---|---|
| Investment Management | This concentration teaches stock option strategies, security analysis, and international investment. Courses may cover topics such as financial markets and institutions and strategic management. This specialization prepares graduates for roles in investment banking and asset management. |
| Banking and Financial Services | This concentration focuses on the financial management of banks, including financing and operations. Topics include credit underwriting, risk management, regulations, and financial market structures. Some programs require students to complete an internship in a banking institution. |
| Corporate Finance | This specialization prepares students for careers as financial analysts, asset managers, consultants, and roles in corporate treasury. Students develop a comprehensive understanding of financial statements and cash flow analysis, advanced corporate valuation, and financial modeling. |
| Risk Management and Insurance | A risk management and insurance concentration explores the fundamentals of identifying and assessing business risks and determining how to offset and mitigate those risks. Courses include insurance theory and practice, corporate risk management, and employee benefits. |
| Real Estate | A real estate concentration readies graduates to work in mortgage lending, real estate development, and corporate real estate analysis. Students learn about real estate investment strategies, real estate law, financial markets, and appraising properties. |
Popular Online Bachelor's in Finance Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Still Looking for the Right Fit? Discover Similar Degree Programs
What Can I Do With a Finance Degree?
A bachelor's degree in finance prepares students for roles in corporations, government agencies, nonprofit organizations, and institutional investors, such as insurance companies and hedge funds. They may also pursue careers in banking and other financial services. Almost every industry requires professionals that can advise clients and businesses on growing wealth, making investments, and diversifying portfolios.
Career paths with a finance degree include accountants, financial analysts, and financial planners. Some careers require certification. Additionally, some employers prefer candidates with graduate degrees for management and leadership roles. Students looking for advancement opportunities can consider schools that offer dual-degree tracks that lead to a bachelor's and master's degree in five years.
Popular Career Paths
- Financial Advisor
- Financial Analyst
- Finance Manager
- Management Consultant
- Accountant
Popular Continuing Education Paths
How Much Money Can I Make With a Bachelor's in Finance?
Salaries for graduates with a bachelor's in finance vary based on the position, employer, and location. For example, the BLS reports that financial analysts earned a median annual salary of $96,220 in May 2022, with the top 10% of earners boasting salaries over $169,940.
Financial analysts who work in securities make a median wage of $106,390 as of May 2022. Those who work in New York make top earnings, with an average annual pay of $140,880.
Financial advisors made a median wage of $95,390 as of May 2022, with the highest 10% earning more than $239,200.
Those who work in Alaska earn the highest salaries, followed by New York and New Jersey. Personal financial advisors in these states made an average wage of $229,730, $203,070, and $174,490, respectively.
More Online Bachelor's in Finance Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
How Do I Get Into a Bachelor's in Finance Degree Program?
After choosing a college, it's time for applicants to send in their application. Students may submit their application through the college's website. Many schools also accept submissions via online application platforms, such as the Common Application. This approach allows students to submit one application to multiple schools.
Submission materials include an application form and official high school transcripts. Most finance programs require a minimum cumulative GPA of 2.0-3.0. Some schools also require minimum SAT or ACT scores. For example, a school might require an ACT composite score of 20 or an SAT score of 950 for math and critical reading components.
Additional requirements include 2-3 letters of recommendation, preferably from school counselors or recent teachers. Schools also require an essay or personal statement.
Frequently Asked Questions About Finance Degrees
Are finance degrees worth it?
A finance degree can be very worthwhile if you're interested in a business or finance career. The BLS projects that jobs in financial occupations will grow faster between 2022-2032 than the average for all occupations. Finance professionals also earn considerably higher median annual salaries compared to the national average, at $76,850.
Can I do finance if I'm bad at math?
While math does play an important role in finance programs and some careers, even those who struggle with math can still work in this field. In fact, many finance careers only use basic math in the field. They also have help from computers when making complex calculations and analysis.
How hard is a finance degree?
Finance degrees can be challenging because of their rigor, the terminology, and the concepts they cover. You will also take some math and statistics classes, which may prove difficult.
What type of person should major in finance?
Finance is a great major for anyone interested in the influence finance has on decision-making, businesses, and the overall economy. If you're analytical, enjoy problem-solving, and have an eye for detail, you might be a good fit in this field.
What does a bachelor’s degree in finance get you?
A bachelor's in finance can gain you access to many entry-level financial business and financial occupations. A bachelor's degree can also qualify you for a master's degree or various professional certifications that some employers require.
Note: The insights on this page — excluding school descriptions — were reviewed by an independent third party compensated for their time by BestColleges. Page last reviewed February 27, 2024.
