Study Finance in Michigan
When you think of Michigan, you probably think first of the automotive industry. But the Great Lakes State offers much more than new cars. In fact, Michigan has as extensive a higher education as you’ll find in any state, with a network of two-year and four-year colleges stretching from its northern to southern borders. With so many choices for getting a degree comes some difficulty, though. Which program do you pick?!
This guide will help you narrow your search for an online finance degree by highlighting some of the popular options. Whether you need to start your education with a bachelor’s degree or want to continue your education in a master’s program, Michigan’s colleges and universities have some excellent offerings!
Online Finance Degrees in Michigan
Listed below are some of the popular schools offering online finance degrees in Michigan:
- University Michigan – Flint
- Baker College
- University of Michigan – Dearborn
- Eastern Michigan University
- Purdue University Global
- Davenport University
- UMass Global
- Capella University
- Grand Canyon University
- Southern New Hampshire University
University Michigan – Flint
Online Bachelor of Business Administration in Finance
At the University of Michigan – Flint, you’ll find a Bachelor of Business Administration in Finance that enhances your mathematical, statistical, and leadership skills and enables you to pursue an entry-level career in finance upon graduation. As a flexible online program, you can work at your own pace, completing the degree in four years of full-time studies or taking longer as a part-time student as you see fit.
This program specifically emphasizes three important areas of the finance field. First, you’ll gain the skills needed to be effective in financial forecasting, security analysis, and portfolio theory. Second, you’ll study options and futures markets, learn how to manage working capital and develop an understanding of accounting, banking, and money, too. Lastly, you’ll explore how to manage financial institutions.
As a result of your studies in this program, you’ll not only be eligible to graduate with a BBA, but you’ll also complete the necessary educational requirements to sit for certification exams. Specifically, this program aligns with the requirements for two finance-related credentials: Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP).
But, first, you have to complete the BBA-Finance curriculum. The 120-credit program includes 63 credits of business core classes, which run the gamut from Principles of Financial Accounting to Business Concepts and Careers to Management Information Systems. Likewise, you’re required to take a three-credit Principles of Managerial Accounting in which you acquire the ability to analyze accounting information in for-profit and nonprofit organizations to assist in the decision-making process.
You’re also required to take a class in Introduction to Business Applications. This course focuses on skill-building as it pertains to using technology in a business setting. You’ll learn specifically about database management, spreadsheets, financial computing, and presentation software, to name a few.
The business core sequence also includes upper-division coursework in highly specific finance topics. A good example of this is Financial Management. This three-credit, 300-level course explores essential instruments of managerial finance, including stocks, bonds, and capitalization. You’ll also learn about the management of working capital, business reorganizations, and common issues arising in the finance business.
Other required core business courses include, but are not limited to, the following:
- International Business
- Principles of Marketing
- Business Statistics
- Operations Management
- Human Behavior in Organizations
The finance major coursework includes six courses for a total of 18 credits. You have some leeway in terms of how you complete these credits. On the one hand, you’re given six possible courses to complete fundamental requirements, of which you must take five. These options include varied studies, from Investments to International Finance to Management of Financial Institutions. Also available is coursework in Financial Engineering and Risk Management, Financial Management Application and Strategy, and Portfolio Theory and Security Analysis.
Additionally, you are given the option of choosing one elective from a list of six possibilities:
- Money and Banking
- Financial Statement Analysis
- Intermediate Accounting
- Business Conditions Analysis
- Theory of Interest
- Finance Internship Program
The curriculum rounds out with general education courses, general electives, and a six-credit sequence of seminars in special business topics that explore unique finance situations you might encounter in your career.
You must have the following qualifications to be considered for admission as a first-year student:
- Submit the online application. There is no fee to apply.
- Submit official high school transcripts showing your graduation date or scheduled graduation date.
- Submit official transcripts from every college or university from which you’ve earned credit.
Baker College
Online Bachelor of Business Administration in Finance
The Bachelor of Business Administration in Finance from Baker College is a 120-credit, four-year program that helps you build essential financial, mathematical, and analytical skills required to work in the finance industry. Not only that, but you’ll have opportunities throughout the program to apply what you learn and gain valuable career readiness experience before you graduate.
This program, which is accredited by the International Accreditation Council for Business Education (IACBE), prepares you for work in many different financial fields. On the one hand, you might pursue employment in corporate finance or insurance. On the other hand, you might use your education to go into investment banking or work in financial markets.
This program begins with 30 credits of general education studies. The classes in this portion of the program are very broad and introductory in nature and help you develop critical college-level skills in communication, critical thinking, and quantitative reasoning. Sample courses include the following:
- Composition and Critical Thinking I and II
- Statistical Methods
- Personal, Civic, and Global Perspectives
- Self and Society
- Advanced Business Communications
You’ll supplement these and other required general education classes with 15 elective credits from fields of your choosing. You have wide latitude here; you can select courses from any undergraduate field of study at Baker College.
This degree requires 48 credits of business-specific coursework as well. This portion of the program focuses on helping you obtain general business knowledge in a wide range of areas. For example, you’ll take Principles of Accounting I and II to learn about financial reporting, the accounting cycle, managerial cost management, and product and service pricing strategies, to name but a few.
You’re also required to take a Business Law class that explores the legal issues you might encounter working in the world of business. You’ll discuss constitutional law, contracts, intellectual property, and business torts, among many others. And in the required Principles of Finance class, you’ll examine topics like term structure of interest rates, capital budgeting issues, capital management, and financial statement analysis.
Other required business classes include, but are not limited to, the following:
- Introduction to Business
- Organizational Behavior and Management
- Principles of Marketing
- Management Information Systems
- Principles of Macroeconomics
You’ll need to complete 27 hours of finance courses to complete this degree, too. This sequence of classes is where you’ll gain the higher-level finance skills required to be a competent professional. For example, you’ll take a course in Risk Management that helps you assess risk for individuals, businesses, and society as a whole. You’ll learn how to develop and implement risk management plans and deal with the uncertainties of the financial markets.
Speaking of financial markets, you’ll also take a three-credit course exploring modern markets and related factors, like interest rates, raising financial capital, and pricing mechanisms. You’ll gain additional finance-related skills in the Personal Financial Planning class that promotes the development of knowledge and skills that allow you to build and analyze comprehensive financial portfolios.
The remaining finance coursework includes the following classes:
- Financial Modeling
- Financial Statement Analysis
- International Financial Management
- Investment Management
- Finance Seminar
You can apply to Baker College online if this program seems like a good fit. Complete the following steps to apply as a first-year student:
- Fill out the online application and submit a $30 application fee.
- Submit your high school transcripts or GED scores.
- Submit official transcripts from every college or university from which you’ve earned credit.
University of Michigan – Dearborn
Online Master of Science in Finance
The Master of Science in Finance from the University of Michigan – Dearborn prepares you for a wide range of finance-related careers. Upon completing the program, you might go into banking, investment management, or corporate finance, to name just three. In fact, this degree has concentration options in Corporate Finance and Investments, so you can tailor your education to the type of finance career you wish to pursue.
This 30-credit program is typically completed in two years of part-time studies. However, you can complete all 30 credits in one year (three semesters) of coursework if you take a full load of courses each semester. UM-Dearborn also allows you to count certain undergraduate courses for graduate credit, which can help you reduce the time needed to complete this degree even further.
The Corporate Finance option begins with three required courses: Topics in Corporate Finance, Corporate Valuation and Strategy, and Derivatives and Risk Management. Obviously, these classes help you build essential skills and competencies in common areas of finance that you’ll encounter in your future career.
You’ll supplement these studies with general electives and accounting electives. Depending on your specific situation, you must take anywhere from two to five general elective courses, which you can choose from the following list:
- The Global Economy: Crisis and Growth
- Investment Process, Analysis, and Management
- Banking, Insurance, and FinTech
- International Financial Management
- Fixed Income Securities
- Investment Fund Management
There are other options, too. For example, you might take an Applied Forecasting class to get a better sense of how finance experts predict market trends. Or, you might take a course in Decision Analysis to gain improved expertise in assisting clients with making critical financial decisions. You can also opt for an elective in System Simulation, which allows you to model financial outcomes in a simulated environment.
Provided you have approval from your advisor, you can use graduate research or a business internship to apply toward the general elective requirement. In either case, you can develop high-level skills in analytical thinking, decision-making, and leadership that can help you differentiate yourself from other job applicants after graduation.
The accounting elective component requires you to take two classes of your choice. Again, you have wide latitude in determining which classes you take. For example, you might focus on Financial Reporting, Financial Accounting, or Cost Management. Alternatively, you might choose classes like Introduction to Federal Income Taxation, Information Technology Auditing, or Management Control Systems.
Alternatively, let’s say you’re interested in the Investments concentration. In that case, you’ll take four required courses:
- Financial Statement Analysis
- Investment Process, Analysis, and Management
- Derivatives and Risk Management
- Topics in Investments and Capital Markets
Again, you have the opportunity to tailor your learning with a host of electives. In fact, the electives for the Investments concentration are the same as those for the Corporate Finance track. This includes the option to participate in graduate research or a business internship.
You must complete the following steps before applying:
- Hold a bachelor’s degree in any field from a regionally accredited college or university.
- Complete college algebra, finite math, pre-calculus, or calculus with a grade of C or better.
- Submit official transcripts from every college or university you’ve attended.
- Provide a statement of purpose in which you explain your career plans and how this program will help you achieve your goals.
- Submit a current resume or curriculum vitae.
- Provide one letter of recommendation.
Eastern Michigan University
Online Master of Science in Finance
Eastern Michigan’s Master of Science in Finance is an accelerated program that requires just ten months to complete. During that time, you’ll take 30 credits of coursework, where each class is fully online and just 7.5 weeks long. This STEM-designated program explores central topics in finance, from financial reporting to portfolio management to equity investments and much more.
You must complete a foundational course before you’re allowed to begin this program. This course, Accounting Principles (or its equivalent), must be completed with a B or higher. If you use an equivalent course as a substitute, it must be from a program accredited by the Association to Advance Collegiate Schools of Business (AACSB).
Once you complete the foundational course, you can begin working on the 30 credits needed to complete this graduate program. Naturally, all 30 credits are in finance and explore topics far and wide. For example, you’re required to take Corporate Finance, Financial Statement Analysis, and Securities Analysis, each of which helps you gain critical skills for working in financial settings of all types.
Moreover, you must take courses like Fixed Income Analysis, Portfolio Management, and Advanced Financial Management to acquire an advanced toolkit for improving the financial futures of your clientele. This program also requires you to take a class in Artificial Intelligence Tools in Finance, which is reflective of the growing use of AI in helping finance professionals make sound decisions.
Other courses required for this degree include the following:
- Quantitative Methods in Finance
- Financial Modeling in Excel
- Risk Management/Derivatives
Your studies in these areas not only qualify you to graduate with a Master of Science, but they also align with the body of knowledge needed for professional certifications. In fact, this program aligns closely with all three levels of Certified Financial Analyst exams.
The preparation for your career doesn’t just occur in an online classroom environment, though. This program heavily emphasizes real-world experience and research. As such, you can choose to complete a thesis in which you conduct thorough research under the mentorship of a faculty advisor. Typically, a thesis requires a semester or more of research and revision. You must defend your thesis to a committee prior to graduation.
You’ll also have access to Eastern Michigan’s investment learning lab, where you can apply what you learn in class to simulated financial situations. You’ll also get hands-on experience using cutting-edge financial tools, including financial analytics and Python programming. These experiences can prove invaluable to you as you begin to transition from being a student to a graduate to a new employee in finance.
You must meet the following criteria to apply:
- Hold a bachelor’s degree in any field from a regionally accredited college or university.
- Have a cumulative undergraduate GPA of 3.0 or higher.
- Submit official transcripts from every college or university you’ve attended.
- Provide a current resume.
- Submit a 250-word personal statement in which you discuss your interest in this program.
- Submit GMAT or GRE scores (though this is an optional step).
Purdue University Global
Online Bachelor of Science in Finance
You can earn a Bachelor of Science in Finance through Purdue’s Global Campus entirely online. This means you have the opportunity to obtain a Purdue degree from the comfort of your home in Illinois.
To graduate, you’ll need to complete 180 quarter credits, which equates to 120 semester credits. Typically, students finish this degree in four years of full-time study, though taking additional classes here and there can potentially shorten your time to graduation by a semester or two.
Your coursework includes 45 quarter credits of general education classes, focusing on foundational knowledge across various liberal arts disciplines. The bulk of your studies, totaling 96 credits, will be within the finance major, comprising both required and elective courses.
For example, required courses cover fundamental finance topics such as Accounting I and II, Macroeconomics, and Introduction to Management. Additionally, you’ll need to take courses in key business areas like Marketing, Business Law, Organizational Behavior, and Business Statistics and Quantitative Analysis.
Within the finance major, you’ll delve into specific subjects such as Introduction to Finance, which explores concepts like financial planning, valuation of money, and financial analysis. You’ll also study Corporate Finance, examining financial decisions within corporate settings.
Another essential course is Financial Markets, where you’ll learn about securities and the factors influencing their values. This course also explores various financial markets where securities are traded. Additional finance courses include Financial Statement Analysis, Investments, and a Capstone Course.
The Capstone Course is a culmination of your learning experience, requiring you to apply your knowledge to real-world financial challenges. Successfully completing the capstone involves a comprehensive review of your understanding and mastery of essential finance topics.
Your remaining coursework consists of electives, allowing you to specialize in a finance concentration. Purdue Global offers four specializations: FinTech, General Finance, Real Estate, or Wealth Management and Financial Planning. Each specialization requires 18 credits. For instance, if you choose Real Estate, you’ll take courses such as Foundations of Real Estate Practice, Real Estate Finance and Ethics, and Real Estate Law.
Alternatively, if you opt for the Wealth Management and Financial Planning specialization, your courses will include Financial Planning, Portfolio Management, and Asset Allocation and Risk Management.
You also have the option to pursue a combined bachelor’s-master’s degree through Purdue Global, which enables you to earn both degrees more efficiently and cost-effectively compared to completing them separately.
To apply, you must meet these requirements:
- Hold a high school diploma.
- Submit official transcripts from every college or university where you’ve earned credits.
- Demonstrate English language proficiency if English is not your native language.
Is Finance Still a Good Degree?
Yes, finance is still considered a good degree for several reasons:
- Career Opportunities: A finance degree opens up a wide range of career opportunities in various sectors, including banking, investment, corporate finance, financial planning, real estate, and insurance.
- High Earning Potential: Careers in finance often come with high earning potential. Positions such as investment bankers, financial analysts, and portfolio managers typically offer competitive salaries and bonuses.
- Job Stability: The financial sector is crucial to the functioning of the global economy, which generally provides a level of job stability. Skills in financial management, analysis, and planning are always in demand.
- Transferable Skills: A finance degree equips students with skills that are transferable to many other fields, such as analytical thinking, problem-solving, data analysis, and understanding of financial markets.
- Opportunities for Advancement: Many roles in finance offer clear paths for advancement, with opportunities to move into senior management or specialized roles as experience and expertise grow.
- Global Opportunities: The skills gained with a finance degree are applicable worldwide, providing opportunities to work in different countries and within various international markets.
- Versatility: A finance degree provides knowledge that is valuable for both corporate roles and entrepreneurial ventures. Understanding financial management is crucial for running a business or starting your own.
However, the value of a finance degree can also depend on various factors:
- Market Conditions: Economic conditions and market trends can influence job availability and growth in the finance sector.
- Continued Education and Certifications: Additional qualifications, such as a CFA or MBA, can enhance career prospects.
- Networking and Internships: Building a professional network and gaining practical experience through internships can significantly impact job prospects and career growth.
Overall, a finance degree remains a strong choice for those interested in the field and willing to stay updated with industry trends and continuously develop their skills.