Finance is the numbers side of the business field. Closely, related to business management, the field of finance is oriented more strongly to theoretical, research, and educational aspects of business.

Even if finance and the numbers often add up to teaching and research, rapidly changing, increasingly complex, and globalized capital market systems are bringing doctorates in finance back into the center of everyday business operations. The speed and complexity of modern-day trading, its mathematical precision, and razor-thin margins require top finance expertise.

What was once a degree tailored mainly to academic life (and academics is still a primary career path) is becoming a key day-to-day piece of putting together a successful business model.

Online doctorates in finance come are awarded as either a PhD or a DBA. Both are terminal degrees from the Latin word terminus, which means end or completion. This means that there are no higher degrees in the field beyond the doctorate. Either degree requires prior education and experience in finance. It is very common for applicants to an online doctoral program in finance to have earned an MBA, or a master’s degree in a closely related field, and have some work experience in business and finance.

While the PhD and DBA will overlap a great deal in terms of what students learn and how their degrees will apply to their careers, there are some important differences. A PhD is designed to respond to the needs of finance experts more oriented to research, writing, and teaching. The DBA looks more to the application side of finance in business operations and management.

Applicants to an online doctorate of finance degree program need a good deal of educational background and a strong track record in business and finance. In addition to a master’s degree in finance, applicants will be asked to submit a CV/resume, personal and professional letters recommendation, and GMAT scores.

Last, but not least, since finance is about numbers and numbers concern mathematics, applicants will need a strong background in advanced mathematical studies, including algebra, statistics, calculus, and economics.

There are several online doctorates in finance degrees now available. Mostly, these are hybrid programs that require a mix of online instruction and on-campus sessions. Both the PhD and the DBA programs include coursework and a final major project, such as a dissertation or a capstone project.

Coursework will cover topics related to finance such as micro and macroeconomics, financial models, tax and finance law, ethics, forecasting, accounting, investing, and risk management.

Completing your online doctorate in finance will take between three and five years. Sometimes a candidate will not be able to find an online doctoral program in finance that fits their needs. In such cases, it is possible to earn a PhD in business management or a DBA instead. There are online doctoral programs in both types of degrees (PhD or DBA) that offer concentrations in finance.

Taking the step of earning an online doctorate in finance will certainly give you a sense of achievement, and rightly so! Perhaps more importantly, a doctorate in finance may be the needed move to advance your career or even change career paths within the business world. If you want to take this step, check out these online degrees.

Online PhD Degrees has selected some of the best, current online doctoral degree programs in finance. It’s likely you’ll find just the program you’re looking for!