Banking Management Degrees: Master's, PhD & Online Training Info

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Master's degrees and PhDs in banking management can lead to careers in the financial field. Get the truth about the requirements, courses and online options, and find out what you can do with your degree.
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Study Banking Management: Degrees at a Glance

Banking management degree programs teach students the skills necessary to take on a leadership role in the financial industry. Programs may also be offered under banking and financial services management, finance or financial management, or may be included as a concentration in finance within a Master of Business Administration (MBA) or Doctor of Business Administration (DBA) degree program.

There are a few field options for graduates of a banking management program, such as finance or academia. According to the U.S. Bureau of Labor Statistics (BLS), employment for financial managers was expected to increase with a slower-than-average growth of 9% between 2010 and 2020. Prospects were predicted to be better for those who have previous financial experience or those with a master's degree. And although financial analysts had a faster-than-average growth of 23% for the same time period, applicants with a graduate degree can expect improved job prospects compared to the competition.

Master's PhD
Who is this degree for? People interested in moving into leadership roles in the financial field Individuals interested in pursuing a research or teaching position
Common Career Paths (with approximate mean annual salary) - Financial analyst ($88,000)*
- Financial manager ($120,000 - this salary is more common for people with at least five years of experience)*
- Business teacher ($87,000 - this salary is more common for people with prior experience)*
- Finance or banking researcher (salary unavailable)
Time to Completion 1.5-2 years 4-5 years
Common Graduation Requirements Capstone or research project - PhD exams
- Dissertation or thesis
Prerequisites - Undergraduate degree
- Prerequisite courses
- GMAT or GRE scores
Similar to those of a master's degree program
Online Availability Yes Rare

Source: *U.S. Bureau of Labor Statistics (May 2011 figures)

Master's Degree Programs in Banking Management

Master's degree programs in banking management are offered at many universities, though it's more common to find them under banking and financial services management, financial management or finance. Programs tend to award a Master of Science, and some schools may offer banking and finance as a concentration within a Master of Business Administration program. Some programs may have optional internship opportunities available.

Pros and Cons

Pros

  • Graduate studies related to banking management can be applicable to many different types of businesses
  • Job growth for financial analyst should be faster than average (23%) from 2010-2020*
  • Potential careers generally pay above average for level of education*

Cons

  • Overtime and/or long hours for related careers are common
  • Competitive field with many people vying for the same jobs
  • Licensure may be required for some positions

Source: *U.S. Bureau of Labor Statistics

Common Course Requirements

Master's degree programs typically require you complete credits that are usually divided up into core courses and electives or specializations. Some programs may also have prerequisites that need to be completed and may require completion of a graduate-level project or thesis.

Common course topics you may find in a master's degree program in this field include:

  • Corporate finance
  • Investment analysis
  • Financial modeling
  • Bank management
  • Decision making for economics

Online Degree Options

There are some master's degree programs offered completely online. These options often award a Master of Science degree. Online MBA programs with a finance concentration are available, and they typically have on-campus or hybrid alternatives.

Getting Ahead With This Degree

Because this is a highly competitive field, earning professional certification may help you achieve your career goals. The Chartered Financial Analyst (CFA) Institute offers the CFA charter, which requires a program of courses and the passing of three exams, and the Certificate in Investment Performance Measurement (CIPM). To earn the CIPM, you must pass two exams, meet professional experience guidelines and become a member of the CIPM Association. Aside from these certifications, the CFA Institute also offers members access to an international network, tracking of continuing education credits and career services.

Doctoral Programs in Banking Management

Doctoral programs in banking management are almost always presented as a PhD in Business Administration or DBA with a concentration in banking and/or finance. There may be additional areas of concentration within the finance specialization. These doctoral programs tend to be offered by universities and can take 4-5 years to complete. DBA or PhD programs in banking management typically prepare students for roles in academia. Students in these programs may also be expected to teach undergraduate courses while working on their degree.

Pros and Cons

Pros

  • Prospective postsecondary teachers with a doctoral degree may be favored over those with only a master's degree
  • Teaching positions in business fields can be stable, well-paying jobs
  • Positions may be highly flexible, allowing you to set your own schedule

Cons

  • Careers in academia may require gaining teaching experience in addition to your degree
  • Degree programs at this level require a significant time commitment
  • Small programs make entry into degree programs very competitive

Common Course Requirements

Doctoral programs in banking management usually are a mix of coursework, dissertation or thesis work and exams. Programs are typically structured so most of the coursework is completed in the first few years before switching the focus over to the dissertation or thesis. Coursework tends to be mostly financial subjects, with some related subjects like statistics and economics included. Many programs also include teaching courses.

Class topics you may find in a doctoral program include:

  • Econometrics
  • Financial markets
  • Microeconomics
  • Financial institutions
  • Financial research

Online Degree Options

Online PhD or DBA banking management programs are extremely rare, and those that exist tend to be offered by for-profits schools. However, earning a doctoral degree in banking management on-campus may be more useful. You will gain hands-on teaching and research experience, as well as have better access to your professors.

Getting Ahead With This Degree

Joining a professional society can help you stay up to date with changes in the field. For example, joining the Association for Financial Professionals gains you access to discussion forums, newsletters, resume services and job postings, research reports and their member directory. Additionally, you may consider attending a conference, such as those offered by organizations like the Global Finance Association and Financial Research Association.

Popular Schools

  • Online Programs Available
    1. Florida Tech

    Program Options

    Master's
      • Master's in Business Administration/Finance
      • Master's in Business Administration/Accounting & Finance
      • Master's in Business Administration/Management
      • Master's in Business Administration
  • Online Programs Available
    2. Purdue University Global

    Program Options

    Master's
      • MS in Finance - Financial Analysis
      • MS in Finance
      • MS in Finance - Financial Planning
      • MBA: Finance
      • Master - Accounting
      • MS in Accounting- Tax Specialization
  • Online Programs Available
    3. Regent University

  • Campus and Online Programs
    4. Full Sail University

    Program Options

    Master's
      • M.S. - Entertainment Business
  • Online Programs Available
    5. Colorado Christian University

    Program Options

    Master's
      • Master of Science in Accounting
      • Business Administration, MBA - Emphasis in Advanced Accounting
      • Business Administration, MBA - Emphasis in Health Care Administration
      • Business Administration, MBA - Emphasis in Leadership
      • Business Administration, MBA - Emphasis in Project Management
  • Online Programs Available
    6. Liberty University

    Program Options

    Master's
      • MS: Accounting
      • MBA: Strategic Management
  • Online Programs Available
    7. Saint Leo University

    Program Options

    Master's
      • MAcc: Accounting
  • Online Programs Available
    8. Keiser University

    Program Options

    Master's
      • Master of Business Administration - Management (Spanish)
  • Online Programs Available
    9. The University of Scranton

    Program Options

    Master's
      • Master of Science in Finance
      • MBA - Finance
      • MBA - Accounting
      • Master of Accountancy
      • Master of Business Administration
      • Dual MBA-MHA
  • Boston, MA

    Boston University

Featured Schools

Florida Tech

  • Master's in Business Administration/Finance
  • Master's in Business Administration/Accounting & Finance
  • Master's in Business Administration/Management

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Purdue University Global

  • MS in Finance - Financial Analysis
  • MS in Finance
  • MS in Finance - Financial Planning

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Regent University

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Full Sail University

  • M.S. - Entertainment Business

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Colorado Christian University

  • Master of Science in Accounting
  • Business Administration, MBA - Emphasis in Advanced Accounting
  • Business Administration, MBA - Emphasis in Health Care Administration

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Liberty University

  • MS: Accounting
  • MBA: Strategic Management

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Saint Leo University

  • MAcc: Accounting

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Keiser University

  • Master of Business Administration - Management (Spanish)

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