Study Finance in Illinois
Finance experts might be most associated with the big city of Chicago. However, people with training in finance are employed in cities and towns across the state. Whether you see yourself working for the public sector, the private sector, or for yourself, a degree in finance from an Illinois university is a great way to start working towards your goals.
The list below includes some of the popular finance degree options – two undergraduate and two graduate. As you’ll see, each program offers the flexibility of online learning while also offering opportunities to network with your peers, learn from your professors, and apply what you’ve learned in real-world situations.

Online Finance Degrees in Illinois
Listed below are some of the popular schools offering online finance degrees in Illinois:
- Western Illinois University
- Purdue University Global
- University of Illinois – Chicago
- University of Illinois – Springfield
- Franklin University
- UMass Global
- Walden University
- Grand Canyon University
- Southern New Hampshire University
Western Illinois University
Online Bachelor of Business in Finance
At Western Illinois University, you can enroll in a Bachelor of Business in Finance that serves as a stepping stone to your future career. On the one hand, WIU offers an extensive career services department, which can help you land your first job in finance. In fact, graduates of this program enjoy excellent job possibilities, including those at top firms like Northwestern Mutual and BMO Harris.
On the other hand, you can use this bachelor’s program to prepare for graduate studies in finance. WIU offers an integrated bachelor’s and master’s program that you can finish in five years – a savings of a full year of studies. In either case, you’ll take classes within a business department that has the highest accreditation possible from the Association to Advance Collegiate Schools of Business (AACSB).
This 120-credit program includes coursework in a number of different categories:
- General education
- Business Core
- Department Core
- Electives
The general education requirements include 43 credits of studies in very broad academic fields, like math, science, social science, and English. These courses are required in an effort to help you build lifelong skills related to the ability to think critically, analyze information, and communicate ideas effectively, to name a few. The general education component is also foundational in that it helps you acquire the needed skills for success in your major-area courses.
The business core component includes 33 credits of coursework in basic business principles. These courses are not unlike the general education courses mentioned above – they are very broad introductory classes that help you build essential skills.
For example, you must take Accounting 201 and 202 to gain an understanding of essential accounting principles and practices. Likewise, you’re required to take Business Law, which explores some common legal and ethical issues that might arise over the course of your finance career.
Another course you’re required to take is Information Systems. Technology is an integral component of finance and other business fields. This class prepares you for that by exploring common IT systems commonly used in the finance industry.
Other required business core courses are as follows:
- Professional Preparation and Business Communication
- Business Statistics
- Finance
- Management
- Marketing
Once you complete the business core, you’ll take 15 credits in finance to gain more specific skills pertaining to working in the finance industry. For example, you’ll take a Financial Institutions course that explores the operations of major entities like commercial banks, insurance companies, and securities firms.
You’ll also take Real Estate Finance and Investment, which is a three-credit class that examines finance techniques and instruments in the real estate space. This includes an analysis of mortgage risk, commercial real estate, and the secondary mortgage market, to name a few. You’ll round out your studies with your choice of both general and departmental electives. These electives can be in many different fields of study, from finance to marketing, economics to accounting.
The following requirements must be met prior to admission as a first-year student:
- Graduate from high school with a 2.75 GPA or higher on a 4.0 scale or 3.44 or higher on a 5.0 scale.
- If your high school GPA is 2.0-2.74 on a 4.0 scale or 2.5-3.43 on a 5.0 scale, your application will be reviewed for possible admission into the WIU Reach program.
- If you graduate in the top 10 percent of your high school class, you will be automatically admitted.
Purdue University Global
Online Bachelor of Science in Finance
Though Purdue is in Indiana, not Illinois, its Global Campus offers a Bachelor of Science in Finance that’s completely online. That means you can get a quality degree from Purdue from the comfort of your home in Illinois!
Purdue is on the quarter system, so you must complete 180 quarter credits to graduate, which is the equivalent of 120 semester credits. Most students can complete this degree in four years of full-time studies, though you can take extra classes here and there to shave a semester or two off your graduation timeline.
You’ll take a total of 45 quarter credits of general education classes. As described earlier, these classes focus on foundational knowledge and skills in a broad range of liberal arts fields. The bulk of your studies, though – 96 credits – are within the finance major. This includes both required and elective coursework in finance.
For example, you’re required to take basic finance-related classes like Accounting I and II, Macroeconomics, and Introduction to Management. You’re also required to take one course in each of the following business fields:
- Marketing
- Business Law
- Organizational Behavior
- Business Statistics and Quantitative Analysis
Of course, you must also take finance-specific classes. Introduction to Finance is the most basic class, and it explores concepts related to valuing money, financial planning, and financial analysis. You’ll also take a Corporate Finance class that analyzes the financial decisions made within corporations.
Yet another finance class you’re required to take is Financial Markets. Your studies will focus on securities and the various factors influencing their value. You’ll also learn about different financial markets where securities are traded. Other finance courses you’ll take include Financial Statement Analysis, Investments, and a Capstone Course.
The Capstone is a unique experience among the required classes. It’s a summative experience, so you must integrate what you’ve learned throughout the program to address real-world-inspired financial problems. Successful completion of the capstone requires you to undertake a meaningful review of what you’ve learned and assess your level of mastery of essential finance topics.
The remaining coursework consists of electives, which you can use to specialize in a finance concentration. Purdue Global offers four specializations to choose from: FinTech, General Finance, Real Estate, or Wealth Management and Financial Planning. Each specialization requires you to complete 18 credits. For example, let’s assume you choose the real estate option. Doing so requires you to take three classes: Foundations of Real Estate Practice, Real Estate Finance and Ethics, and Real Estate Law.
But, let’s assume you choose the Wealth Management and Financial Planning specialization instead. In that case, you’ll take three different classes: Financial Planning, Portfolio Management, and Asset Allocation and Risk Management.
You can even pursue a combined bachelor’s-master’s degree through Purdue Global. This option allows you to complete both degrees faster and for less money than if you finished them separately.
You must meet the following requirements to apply:
- Have a high school diploma.
- Submit official transcripts from every college or university from which you’ve earned credit.
- Demonstrate English language proficiency if English is not your native language.
University of Illinois – Chicago
Online Master of Business Administration in Finance
The Master of Business Administration in Finance from the University of Illinois – Chicago is a 42-credit fast-track program that can be completed in as little as 14 months. The combination of the short timeline for completion and the high-level education you get at a prestigious institution like UIC makes this degree extremely attractive.
This program explores broad topics in business administration, management, and finance. You’ll gain specific finance skills that allow you to collect and analyze data to assist companies in making sound financial decisions. This includes assisting with the management of funds through investments and portfolios.
This AACSB-accredited program’s curriculum includes three components: core courses, finance concentration courses, and electives.
The core courses give you insights into fundamental areas of finance. For example, you’ll take Introduction to Financial Accounting to get familiar with preparing and evaluating financial statements and external reports. Likewise, you’ll take an Introduction to Corporate Finance class that zeroes in on the theory of corporate finance, specifically, the time value of money, capital markets, and corporate financing decisions.
Other coursework you’re required to complete as part of the core component include the following:
- Introduction to Operations Management
- Microeconomics for Business Decisions
- Organizational Behavior
- Enterprise Strategy
- Introduction to Marketing
Three specialized finance courses are also required: Investments, Corporate Finance, and Special Topics in Finance. The Investments class covers investment analysis, theory, and practice in investing. You’ll take a look at security markets, asset valuation, and other key factors in investing, too.
Meanwhile, the Corporate Finance courses discuss many critical topics for today’s businesses and organizations. For example, you’ll learn about financial restructuring, bankruptcy, and dividend policy, to name a few. Then, in the Special topics class, you’ll address central themes in finance as well as new and emerging topics pertinent to your work in this industry.
UIC offers a host of electives that allow you to tailor your studies to your specific interests. For example, if you’re interested in managing the finances of people in the entertainment industry, the Talent Management course is a good choice. However, if you’re especially interested in the long-term growth of a business’s finances, you might choose to take the Strategic Management course instead.
Many other options are available, too:
- Statistics for Management
- Data Warehousing and Decision Support
- Special Topics in Information and Decision Sciences
- Human Resource Management
- Compensation Administration
By completing these and other required and elective courses, you’ll develop the skills needed to think strategically, anticipate financial changes, and understand markets to ensure the financial security of your clients. Moreover, you’ll have an improved understanding of financial assets and what you need to do to manage risk while maximizing returns.
You must meet the following requirements to be considered for admission:
- Have a bachelor’s degree from a regionally accredited institution.
- Have a 3.0 undergraduate GPA or higher.
- Submit official transcripts from every college or university you’ve attended.
- Two years or more of professional work experience or military experience.
- Submit a professional resume.
- Provide two letters of recommendation.
- Provide a statement of purpose in which you discuss your strengths, professional experiences, and professional aspirations after completing this program.
International students must also provide evidence of English language mastery.
University of Illinois – Springfield
Online Master of Science in Finance
The University of Illinois – Springfield’s Master of Science in Finance is a STEM-certified program that examines many different areas of finance, from behavioral finance to investments to quantitative finance and valuation. This program, which is AACSB-accredited, is taught by the same professors and requires the same courses as the on-campus program.
With just 30 credits needed to graduate, you can finish this degree program in as little as a year. Your studies begin with a Foundations of Business Decision-Making class that reviews central elements of finance and related fields, like accounting, statistics, and microeconomics. You’ll learn about supply and demand, financial accounting, and probability, among other topics.
If your undergraduate degree was not in finance or a related field, you must also take Principles of Financial Management. This three-credit class analyzes the decision-making processes involved in making financial decisions. You’ll explore financial operations, ethical issues, and working capital management, too.
The primary portion of the program is in core finance studies. For example, you’ll Take Managerial Finance, Investments, and Financial Markets and Institutions, each of which are three-credit, 8-week studies in fundamental finance topics. You’ll also take a Personal Financial Planning course that helps you gain the skills required to devise comprehensive financial plans for clients.
Furthermore, you’re required to take a Financial Analytics and Budgeting class that teaches you how to process data, model it, and analyze it to make more informed financial decisions. You’ll use Excel to create and analyze financial statements while also participating in Monte Carlo simulations and other activities to help you hone your skills.
An interesting required course for this degree is Introduction to Financial Psychology. Unsurprisingly, this class evaluates the psychological underpinnings of financial decision-making. You’ll use what you learn in this class to be more effective in offering financial coaching, financial therapy, and financial planning services.
Other required coursework includes the following classes:
- Applied Behavioral Finance
- Entrepreneurial Finance
- Management Accounting
- Topics in Finance
You’ll learn a great variety of skills while in this program, and it won’t just be from traditional lecture-based learning, either. Instead, UIS offers broad-based and immersive learning experiences in which you participate in hands-on learning experiences. A good example of this is working on an investment fund managed by students in the program. You’ll also have opportunities to participate in case study competitions with your classmates.
As a result of your studies, you’ll emerge from this program with the knowledge and skills to pursue any number of careers, including:
- Financial Analyst
- Commercial Banker
- Actuary
- Private Wealth Manager
- Financial Planner
UIS’ online graduate application for admission is available Online. Four terms are available each year, with four start dates corresponding to the year-round terms. With so many start dates each year, you gain added flexibility for starting the program when it best suits your work and home life.
The admissions requirements are as follows:
- Have a bachelor’s degree from a regionally accredited institution.
- Have a 2.5 GPA or higher.
- Submit official transcripts from every college or university you’ve attended.
UIS does not require GMAT or GRE scores for the application process.
Franklin University
Online Bachelor of Science in Financial Management
Franklin University offers a Bachelor of Science in Financial Management available to you nationwide. This program, accredited by the International Accreditation Council for Business Education (IACBE), requires 124 credits to graduate and typically takes four years to complete. However, you can accelerate your completion time by taking additional classes each semester.
Like many online programs, this one provides the flexibility of multiple start dates throughout the year. For instance, the university accepts applications in June, August, September, October, December, February, and March. Once accepted, you can begin the program within a few days or weeks.
A notable feature of this program is that you can transfer up to 76 percent of the required credits for graduation. This option is highly attractive if you have completed a significant number of credits but have not yet finished your degree.
The curriculum is divided into several categories. The general education requirements comprise around half of the 124 credits needed to graduate. Another 28 credits are required in the Major Foundational category, laying the groundwork for advanced studies in business and finance.
For example, you will take Managerial Accounting, which teaches you how to use financial data in business decision-making processes. You will also take Business Law to understand typical legal issues that may arise in daily business operations. Other foundational courses include:
- Introduction to Macroeconomics
- Marketing
- Principles of Management
- Principles of Finance
- Introduction to Microeconomics
Major-area coursework focuses on five classes, each worth four credits, covering specific finance topics. For example, the Investments course examines markets, transactions, debt and equity instruments, and mutual funds. The Global Finance class addresses global financial issues, such as interest rates, exchange rates, and country risk analysis. Other major-area courses include:
- Money, Banking, and Financial Markets
- Advanced Financial Management
- Financial Policy Seminar
Franklin University also requires you to take at least eight credits of elective courses within the major. These electives range from Estate Planning to Database Fundamentals to Casualty Insurance, allowing you to tailor your degree to match your career goals.
You can further customize your degree by adding a minor or microcredential. Franklin offers a variety of minors, such as Business Analytics, Healthcare Management, and Public Relations. You must complete all required courses with a grade of C or higher for any chosen minor.
Microcredentials often result in specific certifications. For example, you might pursue an Excel Skills Certificate to enhance your spreadsheet skills for data organization, analysis, and presentation. Alternatively, you could choose the Intuit Bookkeeping Certificate to improve your basic accounting skills.
You can apply to Franklin University online at any time. To be eligible for admission, you must meet the following requirements:
- Submit an official high school diploma, GED certificate, or college diploma.
- Provide transcripts from every college or university where you have earned credit.
- Demonstrate English language proficiency if English is not your native language.
- Complete all other requirements (e.g., college placement tests) as needed.
What are the Career Opportunities For Finance Degree Holders in Illinois?
With a finance degree in Illinois, you can access various career opportunities in several dynamic fields. You may choose to work as a financial analyst, where you will assess financial data, create reports, and provide investment recommendations. This role is critical in helping businesses and individuals make informed financial decisions.
If you are interested in managing investments, you could become a portfolio manager. In this position, you will oversee investment portfolios for clients, aiming to achieve the best returns based on their risk tolerance and financial goals. Your expertise will guide clients in optimizing their investments.
Another career path is in corporate finance, where you could work as a financial planner or analyst within a corporation. Here, you will be responsible for budgeting, forecasting, and managing the company’s financial health. Your skills will contribute to strategic decision-making and overall financial stability.
Risk management is another option. As a risk manager, you will identify and mitigate potential financial risks for organizations, ensuring they have strategies in place to handle uncertainties effectively. This role is essential in maintaining the financial integrity of businesses.
You might also consider a career in investment banking. In this field, you will assist companies in raising capital, advising on mergers and acquisitions, and managing large financial transactions. Your expertise will help businesses navigate complex financial landscapes and achieve their growth objectives.
For those with an interest in personal finance, becoming a financial advisor is a viable option. In this role, you will help individuals manage their finances, plan for retirement, and invest wisely. Your guidance will enable clients to reach their financial goals and secure their future.
Furthermore, working in insurance as an underwriter or analyst is a potential career path. Here, you will evaluate risks and determine insurance coverage terms, ensuring that policies are both fair and profitable. Your analytical skills will be crucial in assessing various risk factors.
Finally, you may find opportunities in the public sector, working for government agencies or non-profit organizations. In these roles, you will manage budgets, oversee financial operations, and ensure the effective use of resources to achieve public objectives.