Finance & Financial Management
Types of Degrees Finance & Financial Management Majors Are Getting
The following table lists how many finance and financial management graduations there were in 2018-2019 for each degree level.
|Education Level||Number of Grads|
What Finance & Financial Management Majors Need to Know
O*NET surveyed people in occupations related to finance and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.
Knowledge Areas for Finance Majors
Finance majors often go into careers in which the following knowledge areas are important:
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Skills for Finance Majors
The following list of skills has been highlighted as some of the most essential for careers related to finance:
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking - Talking to others to convey information effectively.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Abilities for Finance Majors
A major in finance will prepare for your careers in which the following abilities are important:
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Speech Clarity - The ability to speak clearly so others can understand you.
- Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
What Can You Do With a Finance & Financial Management Major?
Below is a list of occupations associated with finance:
|Job Title||Job Growth Rate||Median Salary|
|Financial Managers, Branch or Department||18.7%||$127,990|
|Financial Quantitative Analysts||9.6%||$70,280|
|Fraud Examiners, Investigators and Analysts||9.6%||$70,280|
|General and Operations Managers||9.1%||$100,930|
|Personal Financial Advisors||14.9%||$88,890|
|Risk Management Specialists||9.6%||$70,280|
|Sales Agents, Financial Services||6.2%||$64,120|
|Sales Agents, Securities and Commodities||6.2%||$64,120|
|Securities and Commodities Traders||6.2%||$64,120|
|Treasurers and Controllers||18.7%||$127,990|
Who Is Getting a Master’s Degree in Finance & Financial Management?
At the countrywide level, the racial-ethnic distribution of finance majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||275|
|Hispanic or Latino||446|
Students from other countries are interested in Finance, too. About 44.1% of those with this major are international students. The most popular countries for students from outside the country are:
- Saudi Arabia
- South Korea
How Much Do Finance & Financial Management Majors Make?
Master’s Degree Starting Salary
The U.S. Department of Education found that students who graduated in 2015-2017 with a master’s degree in finance and financial management made a median starting salary of $64,700 per year. During this timeframe, most salaries fell between $53,900 (25th percentile) and $78,675 (75th percentile).
It’s important to note that just because the people reporting these salaries have a degree in finance, it does not mean that they are working in a job related to their degree.
Salaries According to BLS
Average salaries range from $41,310 to $103,330 (25th to 75th percentile) for careers related to finance. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.
To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.
Amount of Education Required for Careers Related to Finance & Financial Management
Some careers associated with finance require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.
How much schooling do you really need to compete in today’s job market? People currently working in careers related to finance have obtained the following education levels.
|Education Level||Percentage of Workers|
|Less than a High School Diploma||0.6%|
|High School Diploma - or the equivalent (for example, GED)||20.1%|
|Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)||3.1%|
|Some College Courses||8.4%|
|Associate’s Degree (or other 2-year degree)||6.7%|
|Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.||6.4%|
|Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.||0.4%|
|First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.||0.8%|
Online Finance & Financial Management Programs
In 2018-2019, 954 schools offered a finance program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.
|Degree Level||Colleges Offering Programs||Colleges Offering Online Classes|
|Certificate (Less Than 1 Year)||134||29|
|Certificate (1-2 years)||53||12|
|Certificate (2-4 Years)||3||1|
|Doctor’s Degree (Research)||21||3|
|Doctor’s Degree (Professional Practice)||0||0|
|Doctor’s Degree (Other)||0||0|
Is a Degree in Finance & Financial Management Worth It?
The median salary for a finance grad is $79,830 per year. This is based on the weighted average of the most common careers associated with the major.
This is 100% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $798,600 after 20 years!
Majors Related to Finance & Financial Management
You may also be interested in one of the following majors related to finance.
|Major||Number of Grads|
|Business Administration & Management||410,147|
|Human Resource Management||26,823|
|Management Sciences & Quantitative Methods||23,738|
|Business Support & Assistant Services||19,483|
|Management Information Systems||14,747|
|Specialized Sales, Merchandising & Marketing||5,873|
|Other Business, Management & Marketing||5,834|
|General Sales & Marketing||5,734|
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
- Image Credit: By Dave Dugdale under License
More about our data sources and methodologies.