If you’re considering a career in financial planning or want to become a CFP (certified financial planner), an online financial planning degree achieved through an MBA program gives you a solid business foundation. MBA (Master of Business Administration) programs teach you about business operations principles. With an online MBA in financial planning, you gain knowledge to help individuals and small business owners achieve their business goals.

Online MBA Programs with a Finance Concentration

UNC Kenan-Flagler Business School – Online MBA

Kenan-Flagler Business School is STEM-designated and prepares professionals to lead in an evolving business landscape. GMAT waivers are available. 

• Complete in as few as 18 months  
• GMAT waivers for experienced professionals  
• 35+ electives available across six concentrations

Request more info from UNC Kenan-Flagler.

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The Online MBA from Rice Business

MBA@Rice, the online MBA program from Rice Business, helps aspiring business leaders rethink their approach to finding innovative solutions to modern business challenges.

• Complete in 24 months
• Small school, big ideas
• Join a tight-knit community of bold, entrprenuerial thinkers

Request more info from Rice University.

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The Online MBA from the University of California, Davis

The online MBA from UC Davis brings a culture of collaboration and Silicon Valley connections to students worldwide. Earn your MBA in as few as 24 months. 

• The Graduate School of Management at UC Davis is AACSB accredited
• Students can complete the program in as few as 24 months
• Combine business with data in a STEM-designated online MBA

Request more info from the University of California, Davis.

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You may wonder: Exactly what does a financial planner do? According to the U.S. Bureau of Labor Statistics, financial planners help their clients:

Financial planners help individual clients who are single or in a relationship. They also help clients who are starting their own business or want financial planning help for their business.

There are several types of business degrees, including master’s programs, that cover finance topics. Two types of finance degrees you may consider include a Master of Business Administration in financial planning and a Master of Finance, often in the form of a Master of Science Degree. Is a master’s in finance better than an MBA in financial planning? It depends on your goals.

An MBA concentration in financial planning includes a general business curriculum, covering topics like leadership, business operations and strategy, and management organization. Additionally, students may take in-depth financial planning courses like tax management and strategy, retirement income planning and financial counseling.

A master’s degree in financial planning is solely focused on finance. All courses are related to financial planning and cover topics like wealth management, estate planning and financial planning research. These programs may also include math courses or valuation topics.

There may be some overlap of courses with an MBA in financial planning and a master’s in finance. With an MBA, you’ll also be equipped with business administration knowledge, which may be helpful if you work with small business owners. An MBA in financial planning may also be helpful if you work in a non-financial role but want enhanced financial knowledge or if the MBA concentration interests you.

If you want to get an MBA in financial planning, online financial planning master’s programs provide flexibility. Instead of having to relocate to attend class on campus, online students may continue living where they are and save money on relocation costs.

Some online students may continue to work full time by enrolling in a part-time degree program. Some employers may even pay for all or part of MBA expenses as long as you continue to work for them while attending school. Online MBA in financial planning programs enable this.

Some students also learn better in online environments. You can re-watch lectures as many times as you need to understand concepts. The flexibility of online master’s degree in financial planning courses also allows students to learn whenever works best for them, whether that’s late at night or early in the morning.

Wondering how to get a financial planning degree online? Choose a school you’re interested in that offers an online program. As long as you have a connected device with internet access, you can complete your classes, take tests and submit homework through an online portal—from wherever you are. Online students communicate with instructors and classmates online, too. Online MBA in finance programs may include live lectures, email portals, group work and video lessons. Research what the program offers to find an educational style that works for you.

Is an online master’s in financial planning worth it? It may benefit you if:

With dozens of MBA concentrations available, consider what your career and/or personal goals are with continuing your education. Speak to admissions advisors to compare programs and how they fit your objectives. Only you can decide if an MBA is right for you.

An online master’s degree in financial planning program takes around one to three years to complete, depending on if you’re enrolled in a full-time or part-time program. Generally, part-time online financial planning master’s programs take around 24 to 36 months to complete while full-time and accelerated options may take around 12 to 15 months to finish.

Accelerated programs generally require a greater day-to-day time commitment whereas part-time programs may be ideal if you want to continue working full or part time while you study. This is because part-time programs generally spread your studies out over a longer period of time than an accelerated program.

Master’s in financial planning online programs are available with start dates throughout the year. You can compare different schools’ schedules and program admissions requirements to see what works best for you.

Each school has its own MBA admissions requirements, but there are some common requirements you may find. These include:

Carefully read the application requirements of the school you’re applying to so that you complete all parts of your application. Explore MBA scholarships.

Not everyone does well on standardized tests. Luckily, some MBA schools have no GRE orGMAT requirement. Some schools may waive the GRE or GMAT requirement if you have a number of years of work experience, enabling those with business experience to enter the program without having to study for or pay for a GMAT or GRE test. Some programs, for example, may require three to five years of work experience to waive the standardized test requirement.

If you’re not interested in taking a GRE or GMAT exam but are interested in earning your MBA, research online financial planning master’s programs with no GRE or GMAT requirement.

A master’s in business administration in financial planning is a graduate-level degree program, not a certificate program. This program generally includes foundational business courses that all MBA students take. An MBA concentration in financial planning also includes courses specifically related to financial planning. Upon graduation, you’ll have a master’s degree.

In an online MBA in financial planning program, you may expect finance and business courses to cover the topics listed below.

Upon completion of an MBA in financial planning program, you’ll have gained knowledge that may be applied in both general business and financial planning-specific environments.

There are several career paths you may pursue with an MBA in financial planning. While someone with a master’s in finance is prepared to work in a finance-specific role, an MBA in financial planning graduate may also work in a finance-related business role or pursue work specifically as a financial planner.

Master’s in finance graduates may pursue finance work as accountants, auditors, budget analysts, financial analysts or financial examiners. These jobs require advanced finance knowledge that’s taught in master of finance programs.

According to the U.S. Bureau of Labor Statistics (BLS), a master’s degree and certification may improve a financial advisor’s opportunities for advancement. An MBA in financial planning may then prepare graduates to become a financial planner. Personal financial advisors may also have a CFP certification, which stands for “certified financial planner” and is a common credential firms may require. To become a CFP and earn your CFP credential, there are education, exam, experience and ethics requirements. The BLS notes that certification can help financial advisors attract new clients.

In addition to CFP, you may have heard of the term CFA. That stands for “chartered financial analyst.” Like a CFP, the CFA credential certifies that a financial analyst has met rigorous standards. The CFA Program requires passing an exam that covers investment tools, wealth planning, portfolio management and asset valuation.

With an online MBA in financial planning, you may also pursue a career as a financial manager. This financial leadership role involves managing the financial goals of an organization and working with top executives, according to the Bureau of Labor Statistics’ report on the responsibilities of financial managers. The BLS says employers may prefer to hire those with a master’s degree for this role. It’s possible that both a master’s in finance and an online master’s degree in financial planning may prepare you for this career.

The main difference between a CFA and a CFP is that a CFA works primarily with businesses and corporations while a CFP works primarily with individuals. A CFA is generally a wealth manager for a company while a CFP may provide wealth management services to individuals.

The main difference between a financial planner and a financial advisor is that a financial advisor is a broader term. A financial planner is generally a type of financial advisor who focuses on planning for the long term by devising goals and strategies. A financial advisor may help clients on a short-term basis by providing investment or savings advice, for example. MBA in financial planning graduates may also pursue a role as a financial advisor.

Do financial planners need a master’s degree for a financial planning career? Not in all cases. As mentioned above, the Bureau of Labor Statistics reports that personal finance advisors generally need a bachelor’s degree, but a master’s degree could aid in career advancement. A master’s degree in financial planning may also be beneficial if your bachelor’s degree is in a non-finance field and you want to make a career change to finance. Luckily, everyone’s finance career path is different.

In the paragraphs below, we assess the potential MBA salaries and job outlooks for three careers in financial planning.

Wondering how much a financial planner earns? The 2019 median financial planner salary was $87,850 per year, or $42.24 per hour, according to the Bureau of Labor Statistics’ report on personal financial advisors. Employment of personal financial advisors is expected to grow 4% from 2019 to 2029, according to the BLS.

Employment of financial analysts is projected to increase slightly more—5% in the same timeframe, the Bureau of Labor Statistics reports. To give you an idea of what a CFA salary may be, the 2019 median salary for financial analysts was $81,590 per year, or $39.22 per hour.

Financial managers made more than personal financial advisors and financial analysts. Their 2019 median salary was $129,890 per year, or $62.45 per hour, according to the Bureau of Labor Statistics’ outlook on financial managers. Employment of these professionals is expected to increase 15% from 2019 to 2029.

The summary table below offers a comparison of salary and career outlook information for financial planning jobs. Information in this table comes from the BLS statistics cited in the previous three paragraphs.

If you’re interested in earning your MBA in financial planning online, there are multiple options from schools across the country. Compare some of these programs below.

Online MBA Programs with a Finance Concentration

UNC Kenan-Flagler Business School – Online MBA

Kenan-Flagler Business School is STEM-designated and prepares professionals to lead in an evolving business landscape. GMAT waivers are available. 

• Complete in as few as 18 months  
• GMAT waivers for experienced professionals  
• 35+ electives available across six concentrations

Request more info from UNC Kenan-Flagler.

info SPONSORED

The Online MBA from Rice Business

MBA@Rice, the online MBA program from Rice Business, helps aspiring business leaders rethink their approach to finding innovative solutions to modern business challenges.

• Complete in 24 months
• Small school, big ideas
• Join a tight-knit community of bold, entrprenuerial thinkers

Request more info from Rice University.

info SPONSORED

The Online MBA from the University of California, Davis

The online MBA from UC Davis brings a culture of collaboration and Silicon Valley connections to students worldwide. Earn your MBA in as few as 24 months. 

• The Graduate School of Management at UC Davis is AACSB accredited
• Students can complete the program in as few as 24 months
• Combine business with data in a STEM-designated online MBA

Request more info from the University of California, Davis.

info SPONSORED

Last Updated January 2021