When you begin exploring your master’s degree options, you might wonder if you need an undergraduate degree in finance to earn a graduate finance degree online. There’s no question that having a strong undergraduate background in finance, business and quantitative studies can be an asset when you start taking advanced finance coursework. However, you may be able to get into – and succeed in – a master’s in finance degree program even if you majored in something other than finance as an undergraduate student.
The Benefits of an Undergraduate Background in Finance
There’s a reason so many students wonder if you need an undergraduate degree in finance to earn a graduate finance degree online. It’s a good question. In a master’s degree program, you will study finance at a higher level – and that means it’s important to understand the basics first.
A master’s in finance program – particularly one that takes just a year to complete – might be best-suited to students who have an educational and professional background in finance, according to U.S. News & World Report. Because these students already have a solid understanding of the principles of finance both in theory and in practice, they’re prepared to build on that foundation with intermediate and advanced coursework.
However, just because you didn’t major in finance doesn’t mean you can’t study it in graduate school.
Earning a Master’s in Finance With a Different Undergraduate Background
At many of the best affordable finance graduate schools, you don’t need an undergraduate degree in finance to earn a graduate finance degree online. You just need to meet the prerequisites – or the required courses – before you can begin your graduate-level studies. These courses may include introductory-level courses in the theory and application of finance principles as well as general business courses.
Students who chose another major other than finance may still meet the prerequisites for a graduate finance programs. Those who didn’t take the prerequisite courses while earning their bachelor’s degree can take them in preparation for beginning a master’s in finance degree program.
Majoring in a “quantitative subject” other than finance can also prepare students to earn a master’s degree in finance, according to U.S. News & World Report. You may not need an undergraduate degree in finance to earn a graduate finance degree online if you majored in a subject like mathematics, accounting, economics or statistics. Also, having work experience in the field of finance may help you succeed in graduate school, even if the subject you majored in wasn’t a quantitative discipline.
Whether you’ve got a long history in the field of finance or you’re relatively new to the discipline, you have options. You may or may not need an undergraduate degree in finance to earn a graduate finance degree online, and with a little research, you can find a degree program that fits your strengths.