Finance Advisor Education Requirements

Q: Is a master's in finance worth it?

Yes, a master's degree in finance is worth it. There are many positions, such as jobs in investment banking, corporate finance, and private wealth management, that a degree in finance can greatly aid you in getting. Many upper-level finance positions require the skills and specialization gained through master's programs.

Q: Why should I study finance?

You should study finance because it allows you to master skills that are necessary for real-world job opportunities. While there are many other finance-related fields, such as business, studying finance specifically will give you a leg up as you will have a narrower focus. This narrow focus will allow for a more in-depth understanding of critical skills. Studying finance will give you opportunities to network with other people in finance. Networking is crucial in many fields, so this can be extremely beneficial for finding appropriate internships, and even entry-level positions post-graduation. Finance will also help you to learn data analytics, investment strategy, and other essential in-demand skills.

Updated April 5, 2024

4 min read

Quoted Experts

John Clark Ph.D., CFA, CFP,

Peter Ibbott

The educational requirements for a finance advisor typically include a bachelor's degree, with a significant proportion also holding a master's degree. According to Peter Ibbott, Associate Professor of Economics at King's College, "If you are considering a career in economics or finance, it is best to get an MA in Economics or a Masters in Financial Economics." He also suggests that for those considering a career in Business or Finance, developing experience through work and seeking additional educational opportunities throughout their career can be beneficial.

John Clark Ph.D., CFA, CFP, Chair of the Dept. of Finance at the University of Nevada - Las Vegas, advises finance advisors to gain experience through internships and applied research. He states, "Doing an internship is a great way to increase your starting salary. I always advocate for doing applied research, this is research that you can show has implications for society." He also recommends obtaining an MS degree, particularly if it is relevant to your future job.

What education do you need to become a finance advisor?

What degree do you need to be a finance advisor?

The most common degree for finance advisors is bachelor's degree, with 74% of finance advisors earning that degree. The second and third most common degree levels are master's degree degree at 12% and master's degree degree at 8%.

Bachelor's, 74%

Master's, 12%

Associate, 8%

High School Diploma, 3%

Other Degrees, 3%

What should I major in to become a finance advisor?

According to Dr. Bill Adams, Associate Professor of Business at Campbellsville University, "willingness to solve problems" is a key experience that stands out on finance advisor resumes. Additionally, a bachelor's degree in fields such as business, finance, or mathematics is typically required for personal financial advisors.

Business, 32%

Finance, 19%

Accounting, 7%

Economics, 7%

Other Majors, 35%

Most common colleges for finance advisors

Finance advisors often get their degrees at University of Phoenix, Arizona State University, and Florida State University. Here are the most common colleges for finance advisors in the US based on their resumes.

Finance Advisor Common College	Percentages
University of Phoenix	18.55%
Arizona State University	7.37%
Florida State University	6.13%
Ohio State University	5.34%
Pennsylvania State University	5.08%

Show more common finance advisor colleges

Best majors for finance advisors

Rank	Major	Percentages
1	Business	32.4%
2	Finance	19.4%
3	Accounting	7.5%
4	Economics	7.1%
5	Marketing	4.9%

Show more common finance advisor majors

Best colleges for finance advisors

The top colleges for finance advisors include the University of Minnesota - Twin Cities and Howard University. These institutions are significant for finance advisors due to their strong emphasis on finance education and high retention rates. Graduates often enjoy higher earnings and lower debt, making these colleges a valuable investment for aspiring finance advisors.

1. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition

$14,760

Enrollment

31,451

2. Howard University

Washington, DC • Private

In-State Tuition

$26,756

Enrollment

6,166

3. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition

$55,584

Enrollment

10,764

4. Northwestern University

Evanston, IL • Private

In-State Tuition

$54,568

Enrollment

8,451

5. Pennsylvania State University

University Park, PA • Private

In-State Tuition

$18,454

Enrollment

40,108

6. University of Nebraska - Lincoln

Lincoln, NE • Private

In-State Tuition

$9,242

Enrollment

20,592

7. University of Southern California

Los Angeles, CA • Private

In-State Tuition

$56,225

Enrollment

19,548

8. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition

$9,808

Enrollment

13,990

9. Villanova University

Villanova, PA • Private

In-State Tuition

$53,308

Enrollment

6,819

10. San Diego State University

San Diego, CA • Private

In-State Tuition

$7,488

Enrollment

30,018

20 best online courses for finance advisors

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Top 10 most affordable universities for finance advisors

The most affordable schools for finance advisors are Baruch College of the City University of New York, suny farmingdale, and usf sarasota-manatee.

If the best universities for finance advisors are out of your price range, check out these affordable schools. After factoring in in-state tuition and fees, the average cost of attendance, admissions rate, average net price, and mean earnings after six years, we found that these are the most affordable schools for finance advisors.

1. Baruch College of the City University of New York

New York, NY • Private

In-State Tuition

$7,262

Cost of Attendance

14,046

2. SUNY Farmingdale

Farmingdale, NY • Private

In-State Tuition

$8,306

Cost of Attendance

16,091

3. USF Sarasota-Manatee

Sarasota, FL • Private

In-State Tuition

$5,587

Cost of Attendance

13,043

4. Brooklyn College of the City University of New York

Brooklyn, NY • Private

In-State Tuition

$7,240

Cost of Attendance

13,991

5. California State University - Dominguez Hills

Carson, CA • Private

In-State Tuition

$6,942

Cost of Attendance

14,469

6. Brigham Young University

Provo, UT • Private

In-State Tuition

$5,620

Cost of Attendance

18,136

7. University of Florida

Gainesville, FL • Private

In-State Tuition

$6,381

Cost of Attendance

21,034

8. California State University - Bakersfield

Bakersfield, CA • Private

In-State Tuition

$7,309

Cost of Attendance

16,714

9. Florida International University

Miami, FL • Private

In-State Tuition

$6,556

Cost of Attendance

19,434

10. University of Puerto Rico - Mayaguez

Mayaguez, PR • Private

In-State Tuition

$4,094

Cost of Attendance

14,302

Top 10 hardest universities to get into for finance advisors

The hardest universities for finance advisors to get into are Northwestern University, University of Pennsylvania, and Boston University.

Some great schools for finance advisors are hard to get into, but they also set your career up for greater success. The list below shows the most challenging universities to get into for finance advisors based on an institution's admissions rates, average SAT scores accepted, median ACT scores accepted, and mean earnings of students six years after admission.

1. Northwestern University

Evanston, IL • Private

Admissions Rate

SAT Average

1,508

2. University of Pennsylvania

Philadelphia, PA • Private

Admissions Rate

SAT Average

1,492

3. Boston University

Boston, MA • Private

Admissions Rate

22%

SAT Average

1,420

4. Stanford University

Stanford, CA • Private

Admissions Rate

SAT Average

1,497

5. University of Southern California

Los Angeles, CA • Private

Admissions Rate

13%

SAT Average

1,445

6. New York University

New York, NY • Private

Admissions Rate

20%

SAT Average

1,419

7. Villanova University

Villanova, PA • Private

Admissions Rate

29%

SAT Average

1,407

8. Vanderbilt University

Nashville, TN • Private

Admissions Rate

10%

SAT Average

1,514

9. Bentley University

Waltham, MA • Private

Admissions Rate

43%

SAT Average

1,338

10. George Washington University, The

Washington, DC • Private

Admissions Rate

42%

SAT Average

1,380

Top 10 easy-to-apply-to universities for finance advisors

The easiest schools for finance advisors to get into are Oklahoma Wesleyan University, holy names university, and barry university.

Some schools are much easier to get into. If you want to start your career as a finance advisor without much hassle, check out the list of schools where you will be accepted in no time. We compiled admissions rates, average SAT scores, average ACT scores, and average salary of students six years after graduation to uncover which were the easiest schools to get into for finance advisors.

1. Oklahoma Wesleyan University

Bartlesville, OK • Private

Admissions Rate

68%

SAT Average

964

2. Holy Names University

Oakland, CA • Private

Admissions Rate

70%

SAT Average

849

3. Barry University

Miami, FL • Private

Admissions Rate

91%

SAT Average

1,006

4. Notre Dame College

Cleveland, OH • Private

Admissions Rate

90%

SAT Average

994

5. University of North Texas at Dallas

Dallas, TX • Private

Admissions Rate

83%

SAT Average

992

6. La Roche College

Pittsburgh, PA • Private

Admissions Rate

99%

SAT Average

1,008

7. Holy Family University

Philadelphia, PA • Private

Admissions Rate

72%

SAT Average

1,017

8. Saint Joseph's College of Maine

Standish, ME • Private

Admissions Rate

84%

SAT Average

1,069

9. Ottawa University

Ottawa, KS • Private

Admissions Rate

78%

SAT Average

1,024

10. LIM College

New York, NY • Private

Admissions Rate

83%

SAT Average

1,061

Average finance advisor salary by education level

Finance advisors with a Doctorate degree earn more than those without, at $81,827 annually. With a Master's degree, finance advisors earn a median annual income of $74,942 compared to $68,144 for finance advisors with an Bachelor's degree.

Finance Advisor education level	Finance Advisor salary
Master's Degree	$74,942
Bachelor's Degree	$68,144
Doctorate Degree	$81,827

Finance Advisor Education FAQs

Is a master's in finance worth it?

Why should I study finance?

What is the best college for Finance Advisors?

Have more questions? See all answers to common business and financial questions.

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Updated April 5, 2024

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated April 5, 2024

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