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
People with careers related to finance were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.
Knowledge Areas for Finance Majors
According to O*NET survey takers, a major in finance should prepare you for careers in which you will need to be knowledgeable in the following areas:
- 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
A major in finance prepares you for careers in which the following skill-sets are crucial:
- 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
As a finance major, you will find yourself needing the following abilities:
- 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?
People with a finance degree often go into the following careers:
|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
According to 2017-2018 data from the U.S. Department of Education, students who graduated with a master’s degree in finance have a median salary of $64,700 during the early years of their career. During this timeframe, most salaries fell between $53,900 (25th percentile) and $78,675 (75th percentile).
One thing to note here is that not all of these people may be working in careers related to finance.
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 you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.
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. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.
Find out what the typical degree level is for finance careers below.
|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!
Explore Major by State
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||135,757|
|Management Sciences & Quantitative Methods||14,136|
|Human Resource Management||10,770|
|Management Information Systems||3,158|
|Other Business, Management & Marketing||1,240|
|General Sales & Marketing||637|
|Specialized Sales, Merchandising & Marketing||221|
|Business Support & Assistant Services||0|
- 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.
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