Financial technology, which enhances and automates traditional forms of finance for consumers and businesses, is rapidly increasing in complexity. The demand for fintech professionals keeps rising as companies look to go beyond current technological boundaries and the best financial technology master’s degrees can help you start a lucrative career in this field.
The US Bureau of Labor Statistics predicts an eight percent growth in the fintech industry from 2020 to 2030, making Master’s Degrees in Financial Technology highly valuable. In this guide, we’ve listed the best financial technology master’s degree programs as well as a breakdown of the admission requirements and application process for each of the best Master’s Degrees in Financial Technology listed.
Where Can I Get a Master’s Degree in Financial Technology?
The best colleges where you can get a Master’s Degree in Financial Technology are Case Western Reserve University, Duke University, New Jersey City University, The University of Texas at Dallas, and the University of Central Florida. Some offer a Master of Engineering in Financial Technology (FinTech), while others offer a Master of Science in Financial Technology.
What Schools Offer the Best Financial Technology Master’s Degrees?
- Case Western Reserve University
- Duke University
- New Jersey City University
- University of Central Florida
- The University of Texas at Dallas
What Are the Admission Requirements for a Master’s Degree in Financial Technology?
The admission requirements for a Master’s Degree in Financial Technology are different for each school, but the minimum requirement across all programs is a bachelor’s degree, preferably in a related field. Other common requirements include a statement of purpose and, while some schools list a minimum GPA, meeting this minimum often doesn’t guarantee admission.
Similar to minimum GPA requirements, standardized test score requirements are also common. That being said, many schools have waived GMAT or GRE requirements due to the COVID-19 pandemic. Most universities will ask for proof of your professional experience and your work ethic, usually in the form of recommendation letters and a resume.
Financial Technology Master’s Degree Admission Requirements
- Bachelor’s degree or equivalent
- Letter(s) of recommendation
- Statement of purpose
- Resume
- Official transcripts
- Minimum GPA and standardized test scores
How to Get a Financial Technology Master’s Degree
You get a financial technology master’s degree by fulfilling all of the graduation requirements set by the institution offering the program. While these requirements may vary, they typically include earning a minimum number of credits from core courses, elective courses, and a capstone course, as well as maintaining a minimum grade point average throughout your studies.
How Many Credits Do You Need for a Master’s Degree in Financial Technology?
You need an average of 30 credits for a Master’s Degree in Financial Technology. These need to be earned from core courses, capstone courses, and elective courses. The specific split will differ from school to school. Some universities also offer concentrations or specializations which can increase the total number of required credits needed to graduate.
Financial Technology Degree Requirements
- Completed core course requirements
- Completed capstone course
- Maintained a minimum cumulative GPA of at least 3.0
- Completed a total of at least 30 credits
- Completed required number of elective courses
Best Financial Technology Master’s Degree Programs and Schools: Overview
| School | Program | Accreditation |
|---|---|---|
| Case Western Reserve University | Master of Science in FinTech | Higher Learning Commission |
| Drexel University | Master of Science (MS) in Finance | Middle States Commission on Higher Education |
| Duke University | Financial Technology Master of Engineering (FinTech) | Southern Association of Colleges and Schools Commission on Colleges |
| Georgia State University | Finance, M.S. | Southern Association of Colleges and Schools Commission on Colleges |
| New Jersey City University | Master of Science in Financial Technology | Middle States Commission on Higher Education |
| Suffolk University | Master of Science in Finance, MSF (FinTech Concentration) | The New England Commission of Higher Education |
| University of Central Florida | Master of Science in FinTech (MS) | Southern Association of Colleges and Schools Commission on Colleges |
| University of Illinois Urbana-Champaign | Master of Science in Finance (Data Analytics and Fintech Specialization) | Higher Learning Commission |
| University of South Florida | Master of Science in Finance (Fintech Concentration) | Southern Association of Colleges and Schools Commission on Colleges |
| The University of Texas at Dallas | Master of Science in Financial Technology and Analytics | Southern Association of Colleges and Schools Commission on Colleges |
Best Schools for Financial Technology: Top Financial Technology Master’s Degree Programs
The best schools for financial technology master’s degree programs can be found all across the country and offer a great comprehensive education that can equip any student with the technological financial skills needed for a long and lucrative career in the financial industry. Here is our list of the top financial technology master’s degree programs.
What Is a Financial Technology Master’s Degree?
A financial technology master’s degree is a one to two-year program providing students with a deeper understanding of the intersection between the world of finance and technology. These programs focus on equipping students with the technological tools and techniques that improve traditional financial services. The degree is grounded in financial big data analysis, finance, and programming.
Financial technology grad students get to learn about the role of artificial intelligence, blockchain, and cryptocurrencies. Common courses in these programs include algorithmic trading, investment management, and entrepreneurship. These programs also provide students with more hands-on experience side by side with experts in the financial services industry compared to bachelor’s degree programs.
How Important Is a Master’s Degree in Financial Technology?
A Master’s Degree in Financial Technology is very important because it allows students to develop a deeper skillset using digital systems, cyber security, robo-advisers, and blockchain technology. Students gain an advanced overview of the practices and principles used by finance professionals, opening them up to more career advancement opportunities and the ability to land managerial roles.
What Types of Master’s Degrees Can You Get in Financial Technology?
The types of master’s degrees you can get in financial technology are a Master of Science, a Master of Engineering, and a Master of Business Administration. The difference between them is that the first two focus on giving students a broad theoretical base of financial technology while the last focuses more on the skills needed to manage and lead teams. The type you should get depends on your career goals.
Is It Better to Get a Master of Science or Master of Business Administration in Financial Technology?
It is better to get a Master of Science in Financial Technology if your interests are primarily in digital innovation and the development of new technologies related to modern finance. In this type of degree program, you’ll take a larger number of lab and research-related courses that will properly equip you to start developing your own tech.
On the other hand, a Master of Business Administration is better if you want to work in a senior or executive-level position in an organization developing fintech. In one, you’ll learn how to handle a team while being still proficient in the advanced aspects of financial technology. You’ll also get to learn skills in risk management, business analytics, and industrial economics.
What Is the Difference Between a Financial Technology Master’s Degree and a Financial Technology Certificate?
The main difference between a financial technology master’s degree and a financial technology certificate is the range of topics covered by each program and the time needed to complete them. A financial technology master’s degree covers a wider range of topics on how digital innovation can be used in modern finance and generally takes one to two years to finish.
A financial technology certificate is typically only 12 credits, with each course lasting only four to six weeks. The number of topics covered is lower but is more specialized. You should choose to pursue a financial technology master’s degree vs a certificate because of the increased number of job opportunities it can open you up.
How Much Does It Cost to Get a Master’s Degree in Financial Technology?
Master’s Degrees in Financial Technology cost an average of $19,314 per year, according to the National Center for Education Statistics. The actual cost of your degree can vary significantly, depending on the institution you are attending, with private institutions typically costing more than public ones. Being a resident or non-resident of your university’s state can also affect your tuition.
How Long Does It Take to Get a Financial Technology Master’s Degree?
It takes one to two years to get a Master’s Degree in Financial Technology. Seeing as most require 30 credits to graduate, you’ll need to earn 15 per semester to finish in a year. Most programs allow part-time study, meaning you’d only have to earn nine credits in your first three semesters and six in your last to graduate in two years, with the majority of courses being worth three credits.
How Hard Is It to Get a Master’s Degree in Financial Technology?
It’s hard to get a Master’s Degree in Financial Technology because the curriculum can be quite challenging. As a financial technology master’s student, you’ll be studying significantly advanced concepts in both the technology and financial sector. Additionally, most fintech master’s programs have an extremely competitive acceptance rate.
Why Should You Get a Financial Technology Master’s Degree?
The benefit of getting a financial technology master’s degree is the opportunity to learn more about corporate financial management, financial technology, and machine learning for business. You can also apply for higher positions, with many career opportunities such as financial analyst, blockchain developer, or business development manager requiring the analytical techniques learned in the degree program.
What Courses Do You Need to Take in a Master’s Degree Program in Financial Technology?
The required courses for a Master’s Degree in Financial Technology are different from institution to institution, especially when comparing the curricula of Master of Science and Master of Engineering programs. That being said, there are some common courses you can find across most programs. Find out more details in the list below.
Emerging Trends for FinTech Services
In this course, students develop assessment techniques used to analyze the motivation of companies when it comes to the technologies they use and the technologies they sell. This course also provides students with a better understanding of the business models that confront the customer service status quo as well as the different applications of game theory.
FinTech Business Models
In a FinTech Business Models course, students dive deeper into the different business models used in the context of FinTech value chain segments. These include models and technologies such as marketplace lending, robo-advisory, cryptocurrency, neo-banking, and blockchain applications.
FinTech Law and Policy
In this course, students gain a better understanding of the principal legal and regulatory issues, architectures, and dynamics of modern financial marketplaces which are shaped by technology. In addition, students learn about the evolving frameworks in which legal practices and successful businesses become technologically literate.
FinTech and Payment Technologies
In this course, students learn about the different emerging business models and technologies that change the way the exchange of currency for goods and services is done. Students tackle concepts such as the economics of payments, major payment networks, regulation, innovative business models, and payment technologies.
Financial Management
In a Financial Management course, students study the processes, institutional arrangements, and decision structures that concern the utilization and acquisitions of funds by organizations. This covers topics like financial assets, project analysis, capital budgeting, debt and dividend, and risk and return.
Continuing Education Paths for Financial Technology Master’s Degree Graduates
The best path to take with a financial technology master’s degree is to pursue a PhD in Financial Technology. Alternatively, you can also earn different certifications related to your field of study that will allow you to better specialize. That being said, a master’s degree is more than enough for you to land some of the highest-paying jobs in fintech.
Related Financial Technology Degrees
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What to Look For in the Best Financial Technology Master’s Degree Programs
The things to look for in the best financial technology master’s degree programs are the program’s cost, curricular content, faculty credentials, accreditation, and flexibility. While picking the best program for your needs can be arduous, knowing what to look for when comparing them will help you make the right choice.
Cost
The cost of a program’s tuition can significantly affect your choice. When looking at a school’s tuition, also take into consideration other costs such as transportation, books, supplies, and student housing you may need to manage during your studies. You should also look into what financial aid opportunities each school provides to its students.
Curricular Content
The curricular content of the program is possibly the most important thing to know before enrolling in a program. With fintech being a new and evolving field, you want to make sure that the program’s courses are up to date and relevant. It also helps you see how the school prepared the academic path for students and whether or not credits are spread out equally throughout the program.
Faculty Credentials
The ability to learn from the best teachers you can get is important. Researching the credentials of your future teachers can help you feel more confident that you’ll be learning from experts in the field of financial technology. These experts won’t only teach you relevant skills, they can also serve as an excellent support network once you start your career.
Accreditation
Accreditation is proof that the school providing the program meets set educational quality standards. Accreditation involves a third-party organization that checks the processes of the school. A school being accredited helps you to know that the education you’ll be getting is good and that you’ll get what you’ve paid for.
Flexibility
Knowing that the program has an option for hybrid or full-time classes could make you feel secure, especially if there are challenges in your way of committing to physical classes. Whether you’re working as you study or want to save time commuting, knowing that a program is flexible gives allows you more freedom when choosing how you want to continue your studies.
What Is the Most Affordable Financial Technology Master’s Degree?
The most affordable financial technology master’s degree is the Master of Science in FinTech (MS) program offered by the University of Central Florida. At $369.65 per credit for in-state students, the total cost of tuition is only $11,089.50 for the entire 30-credit program before fees, taxes, and other costs.
Salary and Job Outlook for Financial Technology Master’s Degree Graduates
The best financial technology master’s degree jobs can be found in many different industries and are easily accessible thanks to your advanced knowledge and skillset. The average Master’s Degree in Financial Technology salary is high, as well. Below we’ve gone into detail about the best jobs you can get after graduating from your fintech master’s degree program.
How Hard Is It to Get a Job With a Financial Technology Master’s Degree?
It is not hard to get a job with a financial technology master’s degree. These programs prepare students to work in the industry through coursework covering the most current trends in financial technology and financial applications of blockchain technology. Fintech master’s degree grads are eligible for a wide variety of positions in the industry, including management roles.
What’s the Average Financial Technology Master’s Degree Salary?
The average Master’s Degree in Financial Technology salary is around $80,000, according to PayScale. Graduates of this degree can work for big fintech companies like JPMorgan Chase, Morgan Stanley, Bank of America, and Ally Financial. As the world keeps digitizing, you’ll also find work in other industries that suddenly need fintech experts.
What Types of Jobs Can You Get With a Financial Technology Master’s Degree?
The jobs you can get with a financial technology master’s degree include working as a big data analyst, blockchain developer, chief financial officer, portfolio manager, and project manager. These job positions require expert knowledge in artificial knowledge, cyber security, and coding skills, and a Master’s Degree in Financial Technology will make you the perfect candidate.
Financial Technology Degree Jobs
- Chief Financial Officer
- Blockchain Developer
- Portfolio Manager
- Big Data Analyst
- Project Manager
Potential Careers With a Financial Technology Degree
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How Much Money Can You Make With a Master’s Degree in Financial Technology?
You can make between $75,945 and $139,781 per year with a Master’s Degree in Financial Technology. Your actual salary will depend on your position and location, the industry you’re in, and the company you’re working for. There are different industries with a high demand for financial technology graduates, such as the financial, investment, technology, and retail sectors.
Highest-Paying Financial Technology Master’s Degree Jobs and Salaries: Overview
| Financial Technology Master’s Degree Jobs | Average Salary |
|---|---|
| Chief Financial Officer | $139,781 |
| Blockchain Developer | $113,000 |
| Portfolio Manager | $89,931 |
| Big Data Analyst | $84,955 |
| Project Manager | $75,945 |
Best Jobs for Financial Technology Master’s Degree Grads
The best jobs for financial technology master’s degree grads are all highly-paid positions with positive predicted job growth. In the list below, we’ve included other information about the job positions mentioned earlier, such as the average salary, job outlook, number of jobs, and highest-paying states.
Best Jobs According to Your Major
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Is a Master’s Degree in Financial Technology Worth It?
Yes, a Master’s Degree in Financial Technology is worth it if you want to work in leadership or research positions in the industry. A master’s degree program will improve and expand your knowledge of cutting-edge technologies like distributed ledgers and popular AI machine learning techniques. You’ll also graduate equipped with the skills needed to solve complex financial technology challenges.
A Master’s Degree in Financial Technology is the best way to advance your career. You’ll have access to a wide variety of career pathways once you finish your studies such as working as a blockchain developer, app developer, financial analyst, or project manager where you can earn a six-figure salary.
Additional Reading About Financial Technology
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Financial Technology Master’s Degree FAQ
No, you can’t get a free financial technology master’s degree. However, universities offer many financial aid opportunities to students which can help manage the cost of tuition. Although no universities offer a free degree, you can rest assured that these universities do their best to support students by making the application process for financial aid easy.
Yes, there are online Master’s Degrees in Financial Technology. While still fully accredited, many of these programs can’t offer as in-depth of an education due to their students having access to a more limited number of learning resources. Luckily, online master’s degrees are usually as accepted by employers as their in-person counterparts.
No, financial technology is not the same as financial engineering. Financial engineering is focused on making complex financial products for investors to govern return and risk.
On the other hand, financial technology facilitates daily financial transactions for individuals, government organizations, and corporations.
You should know that financial technology is the integration of technology into the goods and services offered by financial companies to enhance the consumer experience. It can affect financial activities like money transfers, applying for credit at a bank, or managing investments. Concepts related to financial technology include machine learning, data-driven marketing, and predictive behavioral analytics.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.
