Best Online Financial Modeling Courses

If you’re looking for a financial modeling program from a school with strong name recognition, consider this course from The Wharton School offered on Coursera. The Wharton School at the University of Pennsylvania has an outstanding reputation, recognized as the best business school in the country. 

More than 50,000 students have taken the Business and Financial Modeling Specialization program, which has a 4.5 rating from more than 6,800 reviews. The program is made up of five different courses:

• Fundamentals of Quantitative Modeling
• Introduction to Spreadsheets and Models
• Modeling Risk and Realities
• Decision-Making and Scenarios
• Wharton Business and Financial Modeling Capstone

In the program, you will learn how to use your own data to build scenarios and predict future performance.

When you subscribe to Coursera, you can enroll in the Business and Financial Modeling Specialization program and get a seven-day free trial. During the trial, you can cancel without having to pay any fees. Once the trial expires, you can continue the courses for $79 per month. Most students will need six months to complete this program, so your total cost likely will be about $474.

The program doesn’t require you to have prior experience in accounting, but it is recommended that you know high school-level math through pre-calculus.

While the courses are self-paced, they begin on set dates, so you have to wait for the next enrollment period. But each course is offered at least once per month. All of the content is prerecorded, so there is no way to interact with instructors if you need personalized assistance.

While you can earn a certificate upon completing the program, the certificate is issued by Coursera, not The Wharton School, which may be less impressive to employers.

Despite its drawbacks, we chose this program as the best overall financial modeling class because of the reputation of the university behind it and the thoroughness of its materials. And, because the course charges a monthly fee rather than a fixed price, you can save money by completing the course faster.

Financial modeling can be especially useful for startup founders and small business owners. You can use financial modeling to compare pricing models, calculate how much capital you need, and prepare to meet with investors.

The Financial Modeling for Startups and Small Businesses course on Udemy is offered by two startup founders, and the material is specifically designed for the needs of entrepreneurs. At just $129.99, the course has one of the lowest prices of all the courses we reviewed, and its content is made up of videos, downloadable resources, and articles. Once you enroll, you have lifetime access to all of the materials.

By taking the course, you’ll learn how to build financial models for your business, leverage financial modeling to make informed business decisions, and apply best practices for financial modeling.

The course has a 30-day money-back guarantee through Udemy. If you’re dissatisfied with the course, you can get your enrollment fee back.

The course requires you to have prior knowledge of Excel, particularly when creating formulas. The course has less video content than some other courses and is not as robust as costlier versions.

You can earn a certificate issued by Udemy. Course completion certificates from Udemy may carry less weight than if you earned a certificate from a university or nonprofit organization.

However, entrepreneurs will likely find the course useful, especially considering its cost and specific audience. Unlike other courses, which may be overly broad or focus on large corporations, this course is solely designed for startup founders and entrepreneurs by addressing their unique needs.

Wall Street Prep was established in 2004 by investment bankers and offers both online and instructor-led courses. Its clients include investment banks, private equity firms, and business schools.

Its Real Estate Financial Modeling course is self-paced and includes more than 20 hours of video content delivered in nine parts as well as reusable real estate Excel modeling templates. Through the course, you’ll learn real estate and development theory and how to build a real estate development model.

By taking the course, you can earn continuing professional education (CPE) credits, a requirement for certified professional accountants (CPAs).

Wall Street Prep’s course is $499 and includes unlimited access to its online support center, where you can ask questions, download additional resources, and get updates. If you need additional help, tutoring is available online, but there is an added cost for each tutoring session.

You can earn a certificate after completing the course, but you must pass an exam first. You have 24 months after enrollment to take the test.

Before taking the course, be aware that this is a fairly advanced program. You already should know accounting principles and be proficient in Excel. If you don’t have that experience yet, you’re encouraged to take Wall Street Prep’s crash courses for an added fee before enrolling in the Real Estate Financial Modeling course.

Because the course is so robust and tailored to real estate professionals, it stands out from other courses that teach students more general financial modeling principles. Those pursuing careers in real estate will find its in-depth modules most effective in helping them compare and contrast investment decisions.

Financial Edge is a training company used by top investment banks to train their incoming financial analysts. It was founded in 2016 by finance pro Alastair Matchett, who has a background in mergers and acquisitions and private equity at J.P. Morgan and spent nearly 20 years as an instructor before starting Financial Edge.

The Investment Banker course bundle (four sub-courses broken into specific modules), which costs $499, covers basic accounting principles, financial modeling, valuation, mergers and acquisitions, and leveraged buyouts. The course includes 25 video modules with more than 43 hours of content. You can do hundreds of Excel exercises along with video tutorials, helping you build your skills.

Unlike other online courses, you can get answers to your questions from the course instructor, and you can engage with other financial professionals taking the course.

With the Financial Edge app, Go by FE (available through the Apple Store or Google Play) you can download content to work on course materials offline. You also can complete tasks on the app and have your changes reflected on all devices.

To qualify for a micro-degree—a credential recognized by some major banks—you must pass four different exams.

Lifetime access to course materials gives you plenty of time to complete the program, but Financial Edge doesn’t offer a guarantee on its courses. Refunds are available only on a case-by-case basis, and when course materials haven’t yet been downloaded or viewed.

Financial Edge’s The Investment Banker course bundle offers exceptional value for its cost, with hundreds of videos and downloadable resources. It’s also one of the few options that allow you to interact with the instructor and other students, and it has a powerful app you can use to access content on the go.