Master of Science in Finance
The Walton MSF program is innovative, inclusive, and impactful, with curriculum tied
to industry input and student career goals.
Students focus on financial data analytics, the digital transformation of finance, and innovations in markets and venture finance.
The Master of Science in Finance is designed for early-to-mid-career students who seek advanced education in finance. The program prepares students with subject matter expertise, the ability to understand diverse perspectives, and analytical skills necessary to succeed in the new digital world of finance.
How Do I Enroll?
Admission to Walton College masters programs is selective. Enrollment in each program is limited.
Current Student Listing
Wondering who you’ll meet in class? Get to know our current students.
Just the Facts: Master of Science in Finance
One Year (+)
This program requires two (full-time) semesters to finish. Part-time options are available.
Spring or Fall
New cohorts begin in both Spring and Fall semesters for this degree program.
Do I Qualify to Enroll?
Complete your undergraduate degree and meet additional requirements. View Requirements
GMAT or GRE
Students may be eligible for a GMAT/GRE test waiver with a 3.2 undergraduate GPA or 3 years of professional work experience. Please review our master's admissions policies.
Fall: April 15 - Spring: September 15
Note: After these dates we are accepting applications on a space available basis.
Total Program Cost
Additional tuition costs applied for out-of-state and international students.
View cost details
Paying for College
View a listing of current Master of Science in Finance Students.
Dr. Pu Liu, Chair of the Department of Finance, sits down with Dean Matt Waller to discuss the Master of Science in Finance program and how incoming students stand to benefit. View podcast page with transcript.
According to the U.S. Bureau of Labor Statistics: “Despite employment growth, competition is expected for financial analyst positions. Having certifications and a graduate degree can significantly improve an applicant’s prospects.” Common job titles associated with the knowledge and skills obtained from the program are:
- Financial Analysts
- Financial Specialists
- Budget Analysts
- Financial Managers
- Securities, Commodities and Financial Services Sales Agents
Per salary.com, the median salary for a Finance Manager with a master's degree or MBA is $114,667 - $121,840. Experience and supervisory duties influence salary amounts.
Jobs and Salaries
$114K - $121K
National median salary for a Finance Manager with a master's degree or MBA.
Number of financial analysts in the United States in 2019.
Projected numeric change in the number of employed financial analysts from 2019 to 2029. (+5% change)
Source: Bureau of Labor Statistics, U.S. Department of Labor
Close ties with our corporate partners facilitate recruiting and networking opportunities, internships, and careers.
Students can participate in corporate internships, career counseling, and take advantage of all the Walton College Career Services has to offer.
Courses and Program Schedule
To obtain the Master of Science in Finance degree, students must complete the following 30 hours of coursework.
Digital Innovation in Financial MarketsThe evolving role and operations of financial markets and institutions in an increasingly digital-oriented economy. The impact of technological innovations such as blockchain, nonbank financial technology firms, and machine learning on markets as it relates to investors, firms raising capital, and financial entrepreneurs. (FINN 5243)
Financial Data AnalyticsThis course introduces programming for financial data analysis, data representation and visualization using a modern programming language. (FINN 5323)
Advanced Financial ModelingThe course applies Business Intelligence (BI), Cloud, Artificial Intelligent (AI) tools to business data for financial analysis and modeling. Data handling and modeling make use of the latest BI platforms such as Microsoft Power BI and Tableau. (FINN 5453)
Special Topics in FinanceThis course focuses on advanced energy risk management strategies and tactics commonly applied by regional, national, and multi-national energy firms, including upstream, midstream, and downstream oil and gas companies, and by firms and other participants in the electricity industry. Contemporary issues related to energy, fracking, conflict, technological innovation, and the future of the energy industry will be covered. Topics include financial statement analysis and valuation of energy companies, commodity trading and risk management, forwards, futures, options, and swaps, and hedging. Fundamental credit risk analysis and risk exposure, counterparty risk, risk mitigation techniques, and country risk are also covered. (FINN 510V)
Valuing New VenturesThis course is for students who wish to begin careers in valuing new ventures with VCs and Angel funds, for investors interested in new ventures as an asset class, for members of startup teams who focus on acquiring and managing capital, and for R&D and innovation teams within existing large firms. The course will also add valuable techniques to those performing private equity valuations of growing firms or firms facing large strategic options, even if those firms are not technically startups. (FINN 5123)
Choose 5 from the following courses*:
Financial Markets & ValuationAnalysis of financial information by capital markets in the determination of security values with specific applications to retail and logistics companies. This course views these and other companies from the point of view of the capital markets. (FINN 5223)
Advanced Commercial BankingThis course focuses on advanced risk management strategies commonly implemented at regional and large commercial banks. Topics include financial statement analysis of banks and holding companies, credit analysis of global cash flow, Basel III capital requirements and stress testing, interest rate risk measurement and management, and interest rate hedging with derivatives. (FINN 5313)
Investment Theory and ManagementIntegration of theory, practice of investments with solution of individual and institutional portfolio management problems; Institute of Chartered Financial Analysts' Problems; variable annuity in estate planning. (FINN 5333)
Shollmier Investment ProjectProvide students with the opportunity to design and apply complex investment strategies used in institutional portfolio management on the Shollmier MBA Fund that can involve fixed income and equity securities as well as derivatives. Students will use top down asset allocation models, bottom up security selection, and hedge fund strategies. (FINN 541V)
New Venture FinanceThe course is a deep dive into the legal contracting and governance issues around early stage financing. This course provides students with exposure to the startup finance ecosystem. Students will learn about the forms of early stage funding and the players offering those funding sources, how to prepare for due diligence when seeking funding, and the issues that arise about governance and control when seeking funding. (FINN 5213)
Advanced Corporate Financial ManagementFocus on financial policy issues using real situational cases. Topics include cost of capital, capital budgeting and long-term planning, value-based management, real options, as well as project financing and valuation. (FINN 5303)
Energy Finance and Risk ManagementThis course provides an advanced introduction to energy finance, defined as the application of finance principles to energy, energy service, and related industries, concerning all aspects of the energy value chain. Topics include: (1) physical fossil fuel markets; (2) physical electricity markets; (3) financially traded energy products; and (4) credit, counterpart, country, and enterprise risk. It also introduces students to business valuation and investment banking applications in the energy industry vertical. (FINN 5173)
Real Estate Finance and InvestmentConsideration of professional aspects of the real estate field. Emphasis is placed upon finance techniques and investment analysis. The focus is on commercial real estate. Brokerage, property management, appraisal, property development and current problems are also addressed. Students prepare a feasibly study on a commercial development project. Graduate degree credit will not be given for both FINN 4433 and FINN 5433. (FINN 5433)
* Non-Finance courses and courses in graduate microcertificates may be taken as electives with the approval of the Program Director.
The Master of Science in Finance program will guide students through evolving innovations in financial markets through the extensive use of descriptive, predictive, and prescriptive data analytics on the practice of finance.
Graduates of this program are expected to achieve competencies in financial modeling and proficiency in computational methods involving machine learning, optimization, and advanced computing languages. These finance skills together with deep subject matter knowledge enable graduates to identify, assess, and seize opportunities for value creation in a dynamic, digital, and rapidly changing economy.
The Northwest Arkansas Community
Join a supportive and engaging community located in the vibrant business network of Northwest Arkansas, with over 300 Fortune 500 companies with a presence in the region.
Business leaders and Walton alumni are closely connected to the college, not just during your studies, but throughout your career.