Finance Degree for Jobs in Illinois


As home to the Chicago Stock Exchange, Illinois is a key location for the banking and financial services industry, thanks in large part to Chicago's status as one of the nation's main financial hubs. Illinois-based wealth management firms employ hundreds of skilled finance professionals that manage literally hundreds of billions of dollars.

High stakes means high rewards, which is in part demonstrated by the income earned by Illinois' finance professionals. For example, the top 10 percent of personal financial advisors and brokers earn an income that is off the charts, exceeding the maximum values reported by the US Department of Labor.

Find Schools

Degrees for Finance Majors in Illinois

Education is key to a career in wealth management or corporate finance. Fortunately as an Illinois resident you have some of the greatest opportunities in the nation when it comes to finding local business schools that offer degrees for finance majors.

Associate's Degrees in Finance – Designed for those preparing to become student account advisors and Series 7 Licensed Stockbrokers, among others:

  • Associate of Arts (AA) in Business Administration with a concentration in Finance
    • Located in Grayslake, Vernon Hills, and Waukegan
    • Online option
    • 60 semester hours
  • Associate of Applied Science (AAS) in Finance
    • Located in East Peoria
    • Online option
    • 60 semester hours
  • Associate of Applied Science (AAS) in Finance
    • Located in River Grove
    • Online option
    • 65-67 semester hours

Bachelor's Degrees in Finance – Designed for those preparing to become loan officers, underwriters, or series 65 licensed investment advisor representatives (IAR), among others:

  • Bachelor of Science (BS) in Business with a major in Finance
  • Located in Chicago and Naperville
  • Online option
  • 192 quarter hours
  • Bachelor of Science (BS) in Finance
    • Located in Bourbonnais
    • 128 semester hours
  • Bachelor of Science (BS) in Business Administration with a concentration in Finance
    • Located in Chicago and Schaumburg
    • 120 semester hours
  • Bachelor of Science (BS) in Finance
    • Located in Chicago
    • 120 semester hours
  • Bachelor of Science (BS) in Finance
    • Located in Champaign
    • 124 semester hours
  • Bachelor of Science (BS) in Finance
    • Located in DeKalb
    • Some online classes
    • 121 semester hours
  • Bachelor of Science (BS) in Finance
    • Located in Carbondale
    • Some online classes
    • 120 semester hours

Master's Degrees in Finance – Designed for those studying to become Certified Government Financial Managers (CGFM), risk consulting directors, or financial examiners, among others:

  • Master of Science (MS) in Finance
    • Located in Chicago and Naperville
    • Online option
    • 36-48 quarter hours
    • Applicants can have a bachelor's degree in any field
  • Master of Science (MS) in Finance
    • Located in Chicago
    • 32 semester hours
    • Applicants can have a bachelor's degree in any field
  • Master of Science (MS) in Finance
    • Located in Champaign
    • 30-40 semester hours
    • Applicants can apply with a bachelor's degree in any subject

Graduate Certificates in Finance – Designed for those who plan to become client services associates or project managers, among others:

  • Finance Certificate Program
    • Located in Chicago
    • 12 semester hours
    • Applicants can apply with a bachelor's degree in any subject
  • MBA Certificate in Financial Management
    • Located in Lisle
    • 16 quarter hours
    • Applicants can apply with a bachelor's degree in any subject
  • Finance Graduate Certificate
    • Located in Naperville
    • 9 semester hours
    • Applicants must have completed prerequisites prior to admission

MBAs in Finance – Designed for those preparing to work as financial directors, securities analysts, or financial analysts, among other professionals in corporate finance:

  • MBA in Finance
    • Located in Chicago and Naperville
    • Online option
    • 48-60 quarter hours
    • Applicants can have a bachelor's degree in any subject
  • MBA with a concentration in Finance
    • Located in Carbondale
    • Online option
    • 33 semester hours
    • Applicants can have a bachelor's degree in any subject
  • MBA with a concentration in Finance
    • Located in Champaign
    • Online option
    • 72 semester hours
    • Applicants can have a bachelor's degree in any subject

Doctorate Degrees in Finance – Designed for professionals who are preparing for careers at the top of their field, such as directors of index fund management or model/hours risk managers, among others:

  • Doctor of Philosophy (PhD) in Business Administration with a concentration in Finance
    • Located in Carbondale
    • 48-60 semester hours
    • Applicants must have a master's degree in any field
  • Doctor of Philosophy (PhD) in Finance
    • Located in Champaign
    • 96-120 semester hours
    • Applicants can apply if they have a bachelor's degree in any field, and can also earn a master's degree as part of this program

Top Employers in Illinois’ Financial Services Industry

In 2016, the US Department of Labor reported the total payroll for Illinois' 323,350 finance professionals to be $23.8 billion.

The direct-comparison platform Credio reports the following figures for 2017:

  • Northern Trust Investments – $681 billion under management
    • Wealth management, asset management, and asset servicing
    • Offices worldwide and in Chicago
    • 549 employees
  • Nuveen Asset Management – $155 billion under management
    • Equity and fixed income investing
    • Located in Chicago
    • 190 employees
  • Citadel Advisors – $153 billion under management
    • Hedge funds, asset management, and risk assessment
    • Headquartered in Chicago
    • 1,468 employees
  • Legal & General Investment Management America – $142 billion under management
    • Investing and market analysis for individuals, institutions, and financial professionals
    • Located in Chicago
    • 129 employees

Ranges of Income for Finance Professionals in Illinois

The following statistics are provided by the US Department of Labor for 2016. These annual wages are listed in order from the 10th percentile income, the total average income, and the 90th percentile income:

  • Financial Managers – $56,410; $127,710; $208,00*
  • Accountants and Auditors – $40,660; $76,950; $120,660
  • Budget Analysts – $52,300; $75,460; $104,280
  • Financial Analysts – $46,560; $96,350; $160,360
  • Personal Financial Advisors – $41,190; $116,110; $208,000*
  • Financial Examiners – $56,510; $74,180; $127,120
  • Loan Officers – $28,880; 474,180; $127,120
  • Securities, Commodities, and Financial Services Sales Agents – $30,950; $95,370; 208,000*

* These values are at or above $208,000 annually. The US Department of Labor does not report salaries beyond $208,000.

Projected Job Growth Figures for Finance Professionals in Illinois

The Illinois Department of Employment Security projects the following in terms of job growth for finance professionals between 2014 and 2024:

  • Personal Finance Advisors – 19 percent growth
  • Accountants and Auditors – 13 percent growth
  • Financial Examiners – 9 percent growth
  • Financial Analysts – 7 percent growth
  • Budget Analysts – 6 percent growth
  • Financial Managers – 5 percent growth
  • Securities, Commodities, and Financial Services Sales Agents – 2 percent growth
  • Loan Officers – 2 percent growth

 

Find Schools

illinois