Online Masters in Finance No GMAT Required

A Master of Science in Finance is a specific educational path that aims to prepare students to work in corporate finance, investment management, and financial institutions. The GMAT, or Graduate Management Admission Test, is a standardized test that many business schools use to evaluate a student’s potential at the MBA level. An online masters in finance no GMAT is an option through some colleges and universities.

Do I Need a GMAT for a Masters in Finance?

A GMAT is not always a requirement for a master’s in finance. Some colleges may provide an opportunity to waive the GMAT. This may be possible in a finance program if the student meets specific skills or other enrollment requirements. For example, some students may be able to waive the GMAT if they have a minimum undergraduate GPA and graduated from an accredited institution. Some universities offer waivers on a case-by-case basis. You may be able to learn about these requirements when you review the admission requirements for the university.

Why Should You Consider a Finance Program with No GMAT Required?

Enrolling in an online masters in finance no GMAT program may provide you with the education and access to the skills you need to pursue a career in this field. Employers do not necessarily require those they hire to have a GMAT (sometimes they do not know what this is). In other situations, you may find that there could be financial savings and time savings from not having to study for and take this test. Each situation differs, but many students who may not wish to take the test or those who do not test well may want to check out a program that does not require the GMAT.

How Much Does a Master’s in Finance Cost?

The average cost of a Master’s in finance in the U.S. for the 2018-2019 school year was $19,792, according to the National Center for Education Statistics. The average cost for a graduate degree program at a private institution for that school year was $28,430, and the average cost at a public institution was $8,944.v

How Much Could You Make with a Master’s Degree Program in Finance?

How much a person makes with a masters in finance depends significantly on the type of career they pursue. A person working as a financial analyst earned a median pay of $81,410 per year in 2021, according to the U.S. Bureau of Labor Statistics (BLS). A person working as a financial manager earned a median pay of $131,710 in 2021, according to the BLS.

Earnings are dependent on the type of work done, as well as the employer. Some may decide to work for a nonprofit, a for-profit, or a government employer, which could influence earnings. Location, specific skillsets, and other factors also play a role in expectations for income.

What Could You Do with a Master’s Degree Program in Finance?

Those who pursue a master’s in finance may work in a range of careers, depending on their interests and skillset. Some may work as a senior financial analyst, which includes collecting data, creating financial models, and maintaining spreadsheets for companies. Others may wish to work as a financial manager within an organization with the goal of helping to maintain the organization’s health. Others may work as an investment banker, chief financial officers, or financial managers.

Are There Online Master’s Degree Programs in Finance that Do Not Require GMAT Scores or that Offer a GMAT Waiver?

There are some colleges and universities that offer an online masters in finance that do not require a GMAT. Some schools offer waivers for students who meet undergraduate requirements. They may offer waivers for other achievements as well, such as having a high GPA score. There are other colleges that simply do not require this type of testing. Students who wish to pursue these programs may wish to check with the admissions requirements for the various programs available to determine the individual requirements per program.