In the Finnish degree system the first degree is a three-year Bacheloržs level degree, the extent of which is 120 credits. From the beginning of 1994, this lower university degree was extended to almost all fields of study. The second university degree is an Masteržs level degree (160 credits).

Degree programmes usually include studies in one main subject (major) and in one or more subsidiary subjects (minors), except for clearly professional degree programmes which have a little different, more profession-specific structure. The basic degree consists of three stages: general studies, subject studies and advanced studies. The advanced studies involve independent rearch and a final paper (thesis).

It takes two years (40 credits) to study for the Masteržs degree after Bacheloržs degree, or a total of five years (160 credits). The amount of time taken to complete postgraduate degrees varies greatly, even though planning work is based on the assumption that a licentiate degree would take two or three years and a doctorate about four years after completion of the basic degree.

At the University of Vaasa the following degrees are in use: Bachelor and Master of Science in Business Administration, Bachelor and Master of Arts, Bachelor and Master of Administrative Sciences. Postgraduate degrees are awarded in the above mentioned fields of study.