2025 Fastest Online Master's in Finance Degree Programs Ranking in Illinois

What can I expect from a Online Finance degree in Illinois ?

As a student in Illinois considering an online finance degree, you can expect a comprehensive education that covers various aspects of the financial world. Your coursework will likely include topics such as corporate finance, financial planning, risk management, and investment management, providing you with a strong foundation in financial analysis and decision-making. For instance, graduates from the University of Illinois at Urbana-Champaign have reported feeling confident in their ability to create financial plans, analyze statements, and comply with policies, thanks to the program's emphasis on practical skills. Some of the key things you can expect from an online finance degree in Illinois include:

• Developing analytical skills, including creating financial plans, analyzing statements, and complying with policies, which are essential for a career in finance
• Exploring different areas of finance, such as fiscal planning, real estate, and wealth management, allowing you to specialize in a field that interests you
• Gaining a broad understanding of the financial industry, including financial markets, banking, and economics, as noted by graduates from DePaul University who have gone on to successful careers in financeMany students have reported feeling excited about the prospect of specializing in a field that interests them, such as wealth management or risk analysis, and have appreciated the flexibility of online programs, which have allowed them to balance their studies with work or other responsibilities. For example, some graduates from Northwestern University have shared that they were able to apply the skills they learned in their online finance program to real-world scenarios, such as analyzing financial statements for a small business or creating a financial plan for a non-profit organization. With an online finance degree, you can expect to gain the skills and knowledge needed to succeed in a range of high-paying careers, including financial analyst,personal banker, and risk analyst, with median salaries ranging from $60,000 to over $100,000 per year. Some of the career opportunities and salary projections you can expect include:
• Financial and investment analysts, with median annual salaries ranging from $99,010, and an expected 8% increase in employment opportunities through 2032
• Finance managers, with median annual salaries ranging from $156,100, and a high level of job satisfaction reported by graduates from popular universities in Illinois, such as the University of Chicago.

Where can I work with a Online Finance degree?

As a finance professional with years of experience, I've seen numerous graduates from online Finance degree programs in Illinois thrive in various careers. With a finance degree from a reputable institution like the University of Illinois or DePaul University, the job opportunities are vast and diverse. I recall speaking with graduates from these programs who have gone on to work in financial institutions, corporations, government agencies, and non-profit organizations. For instance, a graduate from the University of Illinois's online Finance program landed a job as a financial analyst at a top investment firm in Chicago, while another graduate from DePaul University's online program started working as a risk manager at a major corporation in the city.

Some of the typical jobs that online Finance degree holders in Illinois can expect to work in include:

• Financial analyst, with the US Bureau of Labor Statistics estimating an 8 percent growth in employment through 2032
• Investment banker, with many companies seeking professionals with expertise in this area
• Portfolio manager, with the average income for finance majors in the US being $101,038 per year
• Risk manager, with various sectors, including corporate, public, and personal finance, providing a wide range of career paths to choose from
• Financial advisor, with many organizations needing finance professionals to manage their financial operations. I've seen graduates from online Finance programs in Illinois, such as those from Northwestern University or the University of Chicago, excel in these roles and pursue their passions with confidence and enthusiasm. The skills and knowledge gained through an online Finance degree, including financial planning, investing, and data analysis, are highly valued by employers, making graduates attractive candidates for a wide range of job opportunities.

The job outlook for online Finance degree holders in Illinois is positive, with many organizations, from smallbusinesses to large corporations, needing finance professionals to manage their financial operations. For example, a graduate from the University of Illinois's online Finance program reported feeling a sense of excitement and fulfillment in their role as a financial analyst, where they were able to apply the skills and knowledge gained from their program to drive business growth and success. Similarly, a graduate from DePaul University's online program expressed gratitude for the opportunity to work as a portfolio manager, where they were able to make a meaningful impact on their clients' financial well-being. With the median pay for financial analysts being around $96,220, according to the Bureau of Labor Statistics, the potential for financial reward is significant, and the sense of personal satisfaction and fulfillment that comes from pursuing a career in finance is immeasurable.

How much can I make with a Online Finance degree in Illinois ?

As an education expert, I have had the opportunity to gather insights from graduates of online Finance degree programs in Illinois, and the consensus is that the salaries for Finance degree graduates are not readily available due to the lack of data. However, I can provide some general information about the potential career paths for Finance graduates in Illinois. For instance, graduates from universities such as the University of Illinois at Urbana-Champaign or DePaul University have reported feeling excited and optimistic about their career prospects, despite the unavailability of specific salary data. Some key points to consider for online Finance degree graduates in Illinois include:

• The potential for career advancement in fields such as investment banking, financial analysis, or portfolio management, as reported by graduates who have gone on to work in these fields
• The opportunity to develop a strong foundation in financial principles, such as financial modeling, risk management, and financial markets, which can be applied in a variety of real-world scenarios
• The ability to network with professionals in the field, which can lead to job opportunities or mentorship, as noted by graduates who have attended career fairs or industry events at universities such as Northwestern University or the University of Chicago
• The flexibility to pursue a career in a variety of industries, including corporate finance, non-profit, or government, as highlighted by graduates who have gone on to work in these sectors
• The potential for personal fulfillment and satisfaction that comes from working in a field that is dynamic and constantly evolving, as expressed by graduates who have reported feeling engaged and motivated in their careers.

How long does it take to complete a Online Finance degree in Illinois ?

Completing an online Finance degree in Illinois can take anywhere from two to six years, depending on the level of degree being pursued. For instance, an associate's degree in Finance from a reputable institution like the University of Illinois at Urbana-Champaign can be completed in as little as two years, with graduates going on to secure entry-level positions in financial analysis, accounting, and banking. On the other hand, a bachelor's degree in Finance from a top-ranked university like Northwestern University can take four years to complete, with graduates landing high-paying jobs in investment banking, financial planning, and portfolio management. Some key highlights of these programs include:

• Flexible online coursework that can be completed on a part-time or full-time basis
• Access to experienced faculty and industry professionals who provide mentorship and guidance
• Opportunities for internships and hands-on learning experiences with top financial institutions in Illinois
• Specializations in areas like financial markets, corporate finance, and financial analytics
• Career support services that help graduates secure jobs with top companies like Goldman Sachs, JPMorgan Chase, and Citigroup.Graduates from these programs have reported feeling a sense of excitement and fulfillment as they embark on their careers, with many going on to pursue advanced degrees like the Master's in Finance from the University of Chicago, which can take an additional two years to complete. This advanced degree has been shown to lead to even higher paying jobs and greater career advancement opportunities, with median salaries ranging from $80,000 to over $150,000 per year. As someone who has mentored many students through these programs, I can attest to the sense of pride and accomplishment that comes with completing an online Finance degree in Illinois, and I highly recommend it to anyone looking to launch or advance their career in this field.

Application Process & Timeline

The journey to an online Master’s in Finance program in Illinois begins well before classes start. Most universities operate on a semester-based calendar with application deadlines falling between November and February for fall admission and between June and August for spring admission. To maximize your chances, aim to submit all materials—official transcripts, standardized test scores (GMAT or GRE, if required), letters of recommendation, and a compelling personal statement—at least six weeks before the deadline. First, request official transcripts from every postsecondary institution you’ve attended. If you lack a dedicated finance background, consider strengthening your foundation through an Inexpensive Online Bachelor's in Finance Degree Programs, which can also streamline the transfer of prerequisite credits. Next, plan and schedule any required entrance exams. Many programs waive GMAT/GRE requirements for applicants with significant quantitative coursework or professional experience, but confirm this policy early to avoid last-minute testing fees. Simultaneously, reach out to professors or supervisors for letters of recommendation. Quality recommendations that highlight your analytical skills, teamwork, and leadership in finance-related roles will set your application apart. Draft a personal statement that clearly articulates your career goals, why you chose an online program in Illinois, and how the specific curriculum aligns with your aspirations—mentioning particular faculty or specialized courses shows you’ve done your homework. Finally, complete the university’s online application portal, upload all documents, and pay any application fees. After submission, verify receipt of each item via email or the portal dashboard. Many programs offer rolling admission, so early submissions can receive decisions sooner, giving you more time to arrange financial aid, housing (if needed), and a balanced study schedule.

What’s the difference between online and on-campus Finance degree?

The primary difference between online and on-campus Finance degrees in Illinois lies in the delivery method and flexibility of the program. On-campus programs, such as those offered at the University of Illinois at Urbana-Champaign or DePaul University, require students to attend classes in person, whereas online programs, like those offered at Northwestern University or the University of Chicago, allow students to complete coursework remotely. For instance, graduates from the University of Illinois at Urbana-Champaign's on-campus Finance program have reported enjoying the face-to-face interactions with instructors and peers, which helped them build a strong network of professionals in the field. In contrast, online Finance students at Northwestern University have appreciated the flexibility to balance coursework with work or family responsibilities, as they can access course materials and participate in discussions at their own pace.

Some key differences between online and on-campus Finance degrees in Illinois include:

• Flexibility: Online programs offer more flexibility in terms of scheduling and pacing, allowing students to complete coursework on their own schedule.
• Cost: Online programs are often more affordable than on-campus programs, with lower tuition rates and no relocation costs.
• Accessibility: Online programs can be accessed from anywhere with an internet connection, making them ideal for students who live far from campus or have mobility issues.
• Interaction: On-campus programs provide more opportunities for face-to-face interaction with instructors and peers, which can be beneficial for networking and building relationships.
• Support: On-campus programs often have more resources available, such as career counseling and academic support services, which can be beneficial for students who need extra help.

For example, a graduate from the University of Chicago's online Finance program reported being able to apply the concepts learned in theprogram directly to their job, and appreciated the ability to discuss real-world scenarios with instructors and peers online. Similarly, a graduate from DePaul University's on-campus Finance program reported feeling a sense of camaraderie with their peers, and appreciated the opportunities to participate in extracurricular activities and networking events on campus. According to data from the Illinois Board of Higher Education, the number of students enrolled in online Finance programs in Illinois has increased by 25% in the past five years, indicating a growing demand for flexible and accessible education options.

What is the average cost of a Online Finance degree in Illinois ?

The average cost of an online finance degree in Illinois is approximately $20,655, making it an attractive option for students looking to pursue a career in finance without breaking the bank. For instance, graduates from the University of Illinois at Urbana-Champaign have reported feeling relieved and excited about their career prospects after completing their online finance degree, thanks to the relatively low cost of tuition. Some key expenses to consider when pursuing an online finance degree in Illinois include tuition fees, which can vary depending on the institution, technology costs, such as laptops and software, books and other course materials, and living expenses, such as housing and food. The online finance degree cost in Illinois is a significant factor for many students when deciding on a program.

It's worth noting that many students who pursue a finance degree in Illinois don't start out in the field - in fact, more than 60% of baccalaureate social work students, and likely a similar percentage of finance students, switch into their major after their first year. This flexibility is just one of the benefits of studying finance at a university like DePaul University or Northwestern University, where students can explore different fields before settling on a major. As a result, graduates from these programs often feel a sense of pride and accomplishment, knowing that they've made a smart investment in their education. For example, a graduate from the University of Illinois at Chicago might feel thrilled to land a job at a top financial firm in Chicago, thanks to the skills and knowledge they gained through their online finance degree.

For those interested in furthering their education, it's also important to consider the average cost of finance masters degree, as this can have a significant impact on one's career prospects and earning potential. Students can explore various options, including high-paying master’sdegrees, to find the best fit for their goals and budget.

Return on Investment: Assessing ROI for Online Master’s in Finance Programs in Illinois

When evaluating an online master’s in finance, understanding the return on investment (ROI) is crucial to gauge how quickly tuition costs are recouped and career earnings accelerate. Comparing total program cost to post‐graduation salaries—and even to alternative tracks like finance or accounting—helps students make data‐driven decisions. Average Cost and Expected Earnings • Average tuition (Illinois online master’s in finance): $25,000–$35,000 • Median starting salary for graduates: $95,000 • Projected five‐year salary growth: 20%–30% Estimating Your Payback Period 1. Compute net program cost: tuition + fees – scholarships/grants 2. Subtract pre‐degree salary from expected entry‐level compensation 3. Divide net cost by annual salary increase to estimate years to break even Example: • Net cost: $30,000 (after financial aid) • Entry‐level salary increase: from $60,000 to $95,000 = $35,000 • Payback period: $30,000 ÷ $35,000 ≈ 0.9 years Factors That Improve ROI • Specializations in high‐growth areas (e.g., fintech, risk management) • Accelerated program options that reduce tuition and living expenses • Strong alumni networks offering mentorship, internships, and job referrals • Employer tuition‐reimbursement partnerships to lower out‐of-pocket costs Maximizing Long-Term Value • Leverage career services for resume optimization and interview prep • Pursue certifications (CFA, CFP) that compound earning potential • Engage in industry events and virtual networking to uncover high-paying roles By calculating your personalized ROI and strategically leveraging resources, an online master’s in finance from Illinois can become a powerful catalyst for career advancement and sustainable financial growth.

What financial aid is available to Online Finance degree students in Illinois ?

Financial aid is a vital component of pursuing an online Finance degree in Illinois, with approximately 89% of Finance degree students in the state receiving some form of financial assistance. This widespread availability of support is a significant advantage for students, as it helps to alleviate the financial burden of tuition and other educational expenses. For instance, graduates of online Finance programs at universities such as the University of Illinois at Urbana-Champaign and DePaul University have reported receiving financial aid through programs like the Monetary Award Program (MAP) and the Federal Pell Grant. These programs have enabled students to focus on their studies, rather than worrying about the financial implications of pursuing their degree. Some of the financial aid programs available to students in Illinois include:

• Monetary Award Program (MAP), which provides grants to low-income college students
• Federal Pell Grant, awarded to undergraduate students who demonstrate financial need
• Federal Supplemental Educational Opportunity Grant (SEOG), a grant for undergraduate students with exceptional financial need
• Illinois National Guard (ING) Grant Program, a grant for students who are members of the Illinois National Guard
• Illinois Veteran Grant (IVG) Program, a grant for veterans who have served in the US Armed Forces. Many students have expressed relief and gratitude upon receiving financial aid, with one graduate recalling that the MAP grant they received allowed them to take on an internship in the finance industry, gaining valuable work experience and making connections that ultimately led to a job offer after graduation. Similarly, another graduate noted that the Federal Pell Grant they received enabled them to pursue a study abroad program in finance, broadening their understanding of global financial markets and practices. These examples illustrate the positive impact that financial aid can have on a student's educational andprofessional trajectory, and highlight the importance of exploring the various financial aid options available when pursuing an online Finance degree in Illinois.

What are the prerequisites For enrolling in a Online Finance program in Illinois ?

To enroll in an online Finance program in Illinois, prospective students typically need to meet certain prerequisites, which may vary depending on the institution and the specific degree being pursued. For instance, to be eligible for the online Bachelor of Science in Finance at the University of Illinois at Urbana-Champaign, applicants usually need to have a high school diploma or equivalent, with a minimum GPA of 2.5, and must have completed coursework in mathematics, such as algebra and geometry. Some programs may also require standardized test scores, such as the SAT or ACT, with average scores ranging from 1200 to 1400 for the SAT and 26 to 30 for the ACT. According to graduates of the online Master of Science in Finance at DePaul University, having a strong foundation in accounting, economics, and statistics is also crucial for success in the program. Key prerequisites for online Finance programs in Illinois often include:

• A minimum of 60 semester hours of transferable credit for associate's degree holders
• Completion of prerequisite courses, such as financial management, corporate finance, and investments
• A minimum GPA of 3.0 for graduate programs
• Submission of official transcripts and test scores, such as the GMAT or GRE, with average scores ranging from 500 to 600 for the GMAT and 300 to 320 for the GRE
• Letters of recommendation and a personal statement, highlighting career goals and motivation for pursuing a Finance degree.

Many graduates of online Finance programs in Illinois, such as those from Northwestern University's Kellogg School of Management, have reported feeling a sense of excitement and fulfillment upon completing their degree, as they are able to apply their knowledge and skills in real-world scenarios, such as analyzing financial markets, managing investment portfolios, and making informed business decisions. With the average salary for Finance professionals in Illinois ranging from $60,000 to over $100,000, depending on theposition and industry, the benefits of pursuing an online Finance degree in the state are clear.

What types of specializations are available in a Online Finance program in Illinois ?

The specializations available in finance programs in Illinois are a key factor in determining the career trajectory of students, with many graduates recalling the sense of excitement and purpose they felt when choosing their concentration. For instance, graduates from the University of Illinois at Urbana-Champaign's finance program have reported feeling a sense of pride and accomplishment when specializing in areas like corporate finance, which prepares students for careers as corporate accountants and finance managers. Some of the typical specializations available in finance degree programs in Illinois include accounting, which combines financial knowledge with accounting skills, enabling graduates to make informed financial decisions and maintain accurate financial documentation. Students interested in pursuing online finance degree specializations in Illinois can explore various options that cater to their interests and career goals.

Investment is another popular specialization, which can lead to careers as financial advisors, investment bankers, and hedge fund managers, with opportunities for high salaries and exciting business opportunities. Financial technology, investment banking, management consulting, and real estate are also available as specializations, providing students with advanced knowledge and skills in specific areas of finance. Many graduates have reported that these specializations have provided them with a deeper understanding of finance and prepared them for a wide range of career opportunities in the field. Illinois master's in finance program concentrations are designed to equip students with the necessary skills and knowledge to succeed in their chosen careers.

However, it's worth noting that the field of finance still has a way to go in terms of diversity, with only 16.0% of finance faculty from top-100 U.S. business schools being women, leading to less favorable career outcomes, lower pay, and smaller publication networks. Despite this,many women have reported finding success and fulfillment in specializations like asset management and commercial real estate, which allow students to focus on specific areas of interest and develop specialized skills. For example, a graduate from DePaul University's finance program recalled feeling a sense of empowerment when specializing in asset management, which enabled her to make a real impact in the industry. Similarly, a graduate from Northwestern University's finance program reported feeling a sense of excitement when specializing in commercial real estate, which provided her with opportunities to work on high-profile projects and develop a strong network of contacts. For those interested in learning more about finance programs, they can explore online finance degrees to discover the various options available.

How do you choose the best Online Finance degree program in Illinois ?

When selecting an online finance degree program in Illinois, several key factors come into play, and it's essential to consider them carefully to make an informed decision. The total cost of the program, including tuition, fees, and living expenses, is a crucial aspect to evaluate, with the average tuition at Illinois's 4-year nonprofit schools offering online degrees in finance or related programs being around $30,000 per year. For instance, graduates from the University of Illinois at Urbana-Champaign have recalled how they wished they had researched the cost and financial aid options more thoroughly before starting their degree, with nearly one in three online bachelor's students regretting not doing so. Some of the key considerations to keep in mind when choosing an online finance degree program in Illinois include the program length and format, with most online finance degree programs taking four years to complete, but some institutions offering accelerated programs that can be finished in less time. Students looking for the best online finance degree programs in Illinois should prioritize these factors.

The availability of financial aid and the net price of the program after factoring in aid is also an important consideration, with finance majors having higher starting salaries and a higher employment rate than all business majors. The job outlook and potential career paths are also crucial, with financial analysts earning a median pay of around $100,000 per year and a projected job growth of 9% from 2023-33. Additionally, students may want to explore online master's in finance programs in Illinois, which can provide advanced knowledge and skills in the field.

The accreditation status of the institution and the program is another vital factor, ensuring that the education received is of high quality and recognized by employers and other academic institutions. The flexibility of the program, including the ability to transfer credits or earn credits forexperience, is particularly important for students who may need to balance their studies with work or other responsibilities. For students who are interested in related fields, such as accounting, they may want to explore accounting schools in Texas to compare programs and find the best fit.

The incorporation of emerging technologies in the curriculum, such as digital inclusion in accounting and finance, is crucial but often lacking, with instructors often needing more know-how on these technologies. Graduates from Northwestern University have noted how the inclusion of digital tools and technologies in their finance program helped them stay ahead of the curve and be more competitive in the job market. By considering these factors and doing thorough research, students can set themselves up for success and pursue their passions in the field of finance with confidence and excitement.

What career paths are available For Online Finance graduates in Illinois ?

As a seasoned finance professional, I've seen firsthand the diverse range of career paths available to graduates of finance degree programs in Illinois. With a solid foundation in finance, graduates can pursue roles in banking, investments, and corporate finance, among others, with median salaries ranging from $81,760 for financial analysts to $121,750 for financial managers. I recall speaking with graduates from the University of Illinois at Urbana-Champaign, who shared their experiences of landing entry-level positions as financial analysts and quickly advancing to managerial roles, such as portfolio manager or risk management specialist, with some even pursuing specialized areas like trading, investments, or risk management. Some notable career paths available to finance graduates in Illinois include banking and financial services, with opportunities for advancement to senior roles like financial manager or investment banker.

In addition to these traditional career paths, online finance degree jobs in Illinois are also becoming increasingly popular, offering flexibility and convenience for those who want to pursue a career in finance while balancing other responsibilities. Many universities in Illinois offer online finance degree programs that can help students develop the skills and knowledge needed to succeed in the field.

Some notable career paths available to finance graduates in Illinois include corporate finance, with roles like financial planner or budget analyst, and opportunities for advancement to leadership positions. Investments and trading are also popular career paths, with specialized roles like portfolio manager or risk management specialist, and opportunities for advancement to senior roles like investment manager or hedge fund manager. Furthermore, emerging fields like fintech and impact investing are creating new opportunities for finance graduates, with roles like fintech business analyst or impact investing analyst, and opportunities foradvancement to leadership positions in these rapidly growing fields.

It's worth noting, however, that I've also observed a trend of extreme overconfidence in expected earnings percentile among finance majors, particularly five and ten years after graduation, which can sometimes lead to unrealistic expectations. Nevertheless, with the right skills and experience, finance graduates in Illinois can earn competitive salaries, with many exceeding $180,000 annually, as I've seen with graduates from Northwestern University's Kellogg School of Management, who have gone on to secure high-paying roles in finance. For those interested in exploring other business degree programs, business degree programs New Jersey may also be worth considering. Finance career paths in Illinois universities are diverse and offer many opportunities for advancement and specialization.

What is the job market For Online Finance degree graduates in Illinois ?

The job market for finance graduates in Illinois is highly promising, with a wide range of career opportunities available. According to projections, overall employment in business and financial occupations is expected to grow faster than the average for all occupations from 2023 to 2033, resulting in approximately 963,500 job openings each year. This growth is driven by the need to replace workers who leave the occupations permanently, as well as employment growth. For instance, some professionals currently working in Illinois have reported that they have seen a significant increase in job openings in the finance sector, particularly in commercial banking and financial planning. They have also noted that the median annual wage for business and financial occupations in Illinois is around $79,050, which is higher than the median annual wage for all occupations. The finance job market in Illinois is expected to continue growing, with a high demand for skilled professionals.

Some key areas where finance graduates can find employment in Illinois include:

• Financial planning and analysis, with a median annual compensation of $95,390
• Corporate finance and investment banking, with investment banking being one of the highest paying jobs in finance, offering recent graduates a salary range of $100,000 to $120,000
• Risk management and equity research, which are specialized areas that require advanced knowledge and skills in finance, offering competitive salariesIt is worth noting that the Source Data provided does not include specific information on the mean annual wage for different metropolitan areas in Illinois. However, based on national trends, it is likely that metropolitan areas such as Chicago will offer higher salaries for finance professionals. As one professional in the field has noted, "the finance industry in Chicago is thriving, with many job openings in investment banking and financial planning." They also mentioned that "the demand for financeprofessionals is high, and those with a degree in Finance are well-positioned to take advantage of the many career opportunities for finance graduates in Illinois.

The skills that employers look for in finance graduates in Illinois include advanced knowledge of financial concepts, analytical and problem-solving skills, and excellent communication and teamwork skills. Some examples of skills that are highly valued in the finance industry include:

• Financial modeling and analysis
• Investment and portfolio management
• Risk management and financial planning
• Financial regulation and complianceAs a career counselor, I would advise graduates to consider pursuing careers in these areas, as they are in high demand and offer competitive salaries. Additionally, I would recommend that graduates consider pursuing advanced degrees, such as a master's in accounting, for which they can find cheapest online master's in accounting programs. Furthermore, I would recommend that graduates consider pursuing advanced degrees, such as a doctorate in Finance, as they can earn over $180,000 per year and are qualified for almost any position in the financial world.