Studies & Degrees in Finance
Finance Study Programs
Finance is the study of how organisations and individuals raise, invest and manage money, and how they deal with risk. The Fisher College of Business at The Ohio State University puts it this way: students learn how organisations evaluate opportunities, manage risk and put financial resources to work. Typical subjects are corporate finance, investment management, financial markets and risk analysis, with advanced courses in areas such as international finance, options and futures.
Actuarial science is the branch that measures risk for insurance and pensions. According to the US Bureau of Labor Statistics (BLS), actuaries use mathematics, statistics and financial theory to assess the risk of potential events and help businesses and clients develop policies that minimise the cost of that risk. In Spain the two fields are joined in the title Ciencias Actuariales y Financieras.
Qualifications and levels
- Spain. Official bachelor's degrees (grados) have 240 ECTS credits and master's degrees 60, 90 or 120. The Universidad de Cádiz, for example, offers a grado in Finanzas y Contabilidad (Finance and Accounting) at its Facultad de Ciencias Económicas y Empresariales. Actuarial training is at master's level: the Máster Universitario en Ciencias Actuariales y Financieras has 120 ECTS credits over two academic years at the Universidad de Alcalá and at the Universidad del País Vasco (EHU), in both cases taught on campus in Spanish.
- United States. Finance is usually a major or specialisation inside a business bachelor's degree. At Ohio State the finance specialisation combines required courses in corporate finance, investments, financial data and global finance with nine credit hours of electives.
- United Kingdom. Universities offer BSc degrees and one-year master's degrees. London Metropolitan University's Banking and Finance BSc (Hons) draws on accounting, economics, investment theory, law and management. Cranfield University's Finance MSc takes one year full-time, with intakes in September and January.
- Professional certificates. Degrees are often combined with a professional qualification. The CFA Program consists of three exams, and the charter also requires 4,000 hours of work experience in the investment field. Cranfield states that its MSc covers much of the CFA syllabus. Actuaries must also pass a series of professional exams, according to the BLS.
Admission
Bachelor's programmes follow each country's general university entrance rules. For Spanish universities, students from other education systems normally obtain an accreditation through UNEDasiss and then apply to each university. Master's programmes ask for a first degree: Cranfield usually requires a UK first or second class honours degree or an equivalent international qualification, ideally in mathematics, statistics, engineering or economics. Expect quantitative subjects, and check the language requirement of each school.
Where to study it
The SpainExchange directory lists 351 schools for finance. The United States has 116, Spain 63 and the United Kingdom 36, followed by Canada (10), Germany (8), China and Australia (6 each), and Mexico, France and Greece (5 each). Teaching is mostly in the language of the country, so Spain and Mexico are options for studying in Spanish, and many business schools in continental Europe also teach in English.
When comparing schools, look at whether the course is general finance or a specialised field (banking, investment, actuarial science), the links with a professional body, the internships on offer and what recognition the qualification has.
Careers
Ohio State names corporate finance, banking, asset management and consulting as destinations for its finance students. The BLS reports that financial analysts work in banks, pension funds, insurance companies and other businesses, and typically need a bachelor's degree in finance or a related field; some employers prefer a master's degree. It counts about 443,100 financial analysts in the United States in 2025 and projects employment to grow 7 per cent from 2025 to 2035.
Actuaries are a much smaller group: about 31,200 jobs in 2025, 78 per cent of them in finance and insurance, with projected growth of 9 per cent from 2025 to 2035. In Spain, the Universidad de Alcalá states that its master's gives access to membership of the Instituto de Actuarios Españoles, and EHU states that its master's qualifies graduates to practise as actuaries, in work such as valuing and reviewing pension plans and funds.
Frequently asked questions
What is the difference between finance and actuarial science?
Finance covers investment, corporate funding and financial markets in general. Actuarial science applies mathematics and statistics to measure risk, mainly for insurance and pensions.
How long does a finance degree take?
A Spanish grado has 240 ECTS credits. A master's takes one year at Cranfield University and two years for the actuarial master's at the Universidad de Alcalá and EHU.
Do I need a professional qualification as well as a degree?
It depends on the job. Investment roles often value the CFA charter, which requires three exams and 4,000 hours of work experience, and actuaries must pass a series of professional exams.
How do I become an actuary in Spain?
The usual route is the Máster Universitario en Ciencias Actuariales y Financieras. The universities describe its professional effects in different words, so confirm the membership requirements with the Instituto de Actuarios Españoles.