If you’re considering getting a degree in finance online then you’ll likely be glad to know that finance degrees were recently ranked as one of the top ten degrees for graduate earning potential. Research from the National Association of Colleges and Employers ranked degree in finance graduates as in the top ten of high earning entry level salaries, with the average entry level finance major salary being a whopping $57,300.
A career in finance is clearly lucrative, but perhaps work and personal responsibilities are stopping you from going to a brick-and-mortar school to get your bachelor degree in finance. If this is you, then you may be wondering “Should I Get a Degree in Finance Online?” as an alternative to studying finance at an on-campus institution.
Of course the answer very much depends on your unique circumstances and long term goals but the fact is that there are plenty of finance degree programs out there that could give you the skills you need without having to give up any of your personal responsibilities. However, completing an online degree in finance is definitely not without its advantages and disadvantages and here are the main pros and cons to getting an finance degree online:
- You Can Keep Your Job – A huge benefit of studying online is that many distance programs will provide a flexible study schedule, so you can study around your work and other responsibilities. Therefore, you may easily be able to keep your current full-time job as you get your finance degree which could both help you graduate with either little or no student debt and prevent any gaps of unemployment from appearing on your resume. In this respect, an online degree is very much a win-win situation.
- You Can Save a Lot of Money – Not only can money be saved from not having to give up your day job for the sake of your education, you can also save a lot by not having to commute to school on a daily basis or having to relocate to be nearer to your campus. Some programs provide lower tuition rates compared to their brick-and-mortar counterparts and others even offer tuition guarantee. Overall, online education can provide a great education for less.
- You Can Learn Invaluable Finance Skills from Home – With an distance finance degree you don’t have to leave the comfort of your home to learn invaluable and highly marketable finance skills. These skills can help you become a qualified finance professional and stand out from the crowd in the hiring process when you’re looking for your first finance job after graduation. With an online finance degree you can gain finance skills from your own home and in your own time.
- You May Lack “Hands on” Financial Experience – While an online degree in finance definitely does have its pros, you may graduate with not as much “hands on” experience in the field of finance as graduates who attended a brick-and-mortar program. Studying solely online may prevent you from getting the real world experience you may need to impress potential employers but you could easily compensate for this by trying to get at least one finance internship under your belt before you graduate.
- There is Still Some Stigma Surrounding Online Degrees – Unfortunately there is still some negative stigma surrounding online education. Some employers still favor candidates who completed in-person degree programs over those who haven’t, and you may experience this once you graduate and are looking for your first finance job. However, you can beat this stereotype by emphasizing in the interview process all of the ways in which your online finance degree equipped you with the necessary skills and experience for a lasting career in finance.
An online finance degree can be a great solution for those with busy lives that want to transition into a career in finance. Use our above pros and cons to help you make the best educational decision possible and good luck!