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Financial Planning Major

Financial Planning

179 Master's Degrees Annually
17 Doctor's Degrees Annually
#418 in Popularity (Master's)

Types of Degrees Financial Planning Majors Are Getting

The following table lists how many financial planning & services graduations there were for each degree level during the last year for which data was available.

Education Level Number of Grads
Graduate Certificate 427
Master’s Degree 183
Doctor’s Degree 12

What Financial Planning Majors Need to Know

O*NET surveyed people in occupations related to financial planning 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 Financial Planning Majors

This major prepares you for careers in which these knowledge areas are important:

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  • 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.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • 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 Financial Planning Majors

financial planning majors are found most commonly in careers in which the following skills are important:

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  • Speaking - Talking to others to convey information effectively.
  • 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.
  • 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.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Financial Planning Majors

Some of the most crucial abilities to master while a financial planning student include the following:

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  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.

What Can You Do With a Financial Planning Major?

Below is a list of occupations associated with financial planning:

Job Title Job Growth Rate Median Salary
Business Professors 18.0% $83,960
Credit Counselors 13.8% $45,180
Personal Financial Advisors 14.9% $88,890
Sales Agents, Financial Services 6.2% $64,120
Sales Agents, Securities and Commodities 6.2% $64,120

Who Is Getting a Master’s Degree in Financial Planning?

183 Master's Degrees Annually
36% Percent Women
23% Percent Racial-Ethnic Minorities*
This major attracts more men than women. About 64% of the graduates in this field are male.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of financial planning majors is as follows:

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Race/Ethnicity Number of Grads
Asian 13
Black or African American 14
Hispanic or Latino 10
White 122
International Students 5
Other Races/Ethnicities 19

Geographic Diversity

Students from other countries are interested in Financial Planning, too. About 2.7% of those with this major are international students.

Some degrees associated with financial planning may require an advanced degree, while others may not even require a bachelor’s in the field. 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.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to financial planning have obtained the following education levels.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 14.8%
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) 1.4%
Some College Courses 5.9%
Associate’s Degree (or other 2-year degree) 5.2%
Bachelor’s Degree 37.3%
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. 6.7%
Master’s Degree 6.6%
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. 0.1%
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. 2.2%
Doctoral Degree 18.3%

Online Financial Planning Programs

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) 0 0
Certificate (1-2 years) 6 1
Certificate (2-4 Years) 0 0
Associate’s Degree 5 2
Bachelor’s Degree 23 12
Post-Baccalaureate 0 0
Master’s Degree 27 10
Post-Master’s 0 0
Doctor’s Degree (Research) 3 1
Doctor’s Degree (Professional Practice) 1 0
Doctor’s Degree (Other) 0 0

You may also be interested in one of the following majors related to financial planning.

Major Number of Grads
Finance 50,972
Banking and Financial Support Services 1,048
Other Finance and Financial Management Services 395
Investments and Securities 374
International Finance 141
Public Finance 25
Credit Management 2
Financial Risk Management 2

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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