A master’s degree in finance can open doors to a new and well-paying career. As seen in the recent global economic downturn, finance can effect every aspect of American life. Skilled and educated workers are needed badly to keep the world’s financial future secure. However, many people who are interested in this field are concerned about whether they have the resources necessary to pursue a master’s in finance–namely, whether they have the time.
The Traditional Route to a Master’s in Finance
The traditional route to a master’s degree in finance includes going to a brick-and-mortar school for roughly two years post-baccalaureate. Because the person needs to already have completed a bachelor’s degree to begin their master’s degree, the total time is 5-7 years in study. In traditional master’s degree programs, the student goes to a classroom and usually completes a small amount of research under the supervision of their professors. This can be time-consuming and interfere with other responsibilities, such as family and career.
Non-traditional Master’s in Finance Degrees
An increasing number of universities are offering non-traditional master’s degrees in finance for people who cannot attend class every day. These may have classes on weekends and outside of normal working hours or be entirely online. A surprising number of people are choosing non-traditional programs to complete their education; in fact, half of all graduate students are enrolled in such a program. These degrees generally take the same amount of time to complete, although there are decelerated programs that allow students to work part-time and thus take longer to finish their education.
Similarities and Differences in Traditional and Non-Traditional Programs
All accredited master’s in finance programs offer the same curriculum in investment analysis, financial planning, economics, and accounting. However, there are differences between traditional programs and non-traditional ones. Flexibility is the main factor that separates the two. A non-traditional program often allows students to increase or decrease their workload as needed so they can complete their master’s in finance in the normal two to three year period while handling a full and rich life.
Do You Have Time?
Many people wonder if they can spare the roughly two years of education needed to get their master’s in finance. However, it is important to remember that those years will pass regardless of what is done with them. And many students give themselves extra flexibility by enrolling in online master’s in finance degree programs. A person who puts in the effort to balance school with other responsibilities will find at the end of the short two years that they are qualified for a stable, high-paying job in a respected field. In fact, there has never been a better time to pursue this type of training, because schools are actively teaching students how to deal with the new economic challenges.
In short, the time needed to get a master’s in finance depends mainly on the type of program and the amount of time that the student is willing to invest. Whether a person chooses a two year program or a longer one, the result will be the same: an in-demand degree that leads to an interesting and high-paying job.
