Finance Degree for Jobs in Indiana


According to the US Department of Labor, in 2016 the total payroll for Indiana's 118,250 finance professionals was $7.4 billion, while the state’s finance sector as a whole contributed $5.2 billion to the Gross State Product (GSP) that year.

Indiana is one of the most important states in the Midwest when it comes to corporate finance and the financial services industry. Professionals here can expect significant job growth during the ten-year period leading up to 2024, with the number of personal financial advisors expected to increase by 19 percent according to the Indiana Department of Workforce Development. 

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Degrees Available to Finance Majors in Indiana

Prospective finance professionals can maximize their career potential as well as meet minimum education requirements by earning a finance degree online or through traditional classroom based programs available through Indiana’s respected business schools.

Associate's Degrees in Finance – Designed for those preparing to enter the field of finance as Series 7 licensed brokers, among others:

  • Associate of Science (AS) in Business Management with a concentration in Finance
    • Located in Jasper
    • Online option
    • 60 semester hours
  • Associate of Science in Financial Management
    • Located in Indianapolis
    • Online option
    • 64 semester hours
  • Associate Degree in Finance
    • Online only
    • 60 semester hours

Bachelor's Degrees in Finance – Designed for those preparing to start their careers as series 65 licensed investment advisor representatives (IAR) or performance improvement coordinators, among others:

  • Bachelor of Science (BS) in Finance
    • Located in Richmond
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Science (BS) in Business with a major in Finance
    • Located in Richmond
    • Online option
    • 120 semester hours
  • Bachelor of Science (BS) in Business with a major in Finance
    • Located in Fort Wayne
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Science (BS) in Finance
    • Located in Marion
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Science (BS) in Business with a concentration in Financial Information Systems
    • Located in Gary
    • Some classes offered online
    • 124 semester hours

Master's Degrees in Finance – Designed for those preparing for mid to upper-level management positions in corporate finance as well as Certified Government Financial Managers (CGFM) or Certified Financial Planners (CFP), among others:

  • Master of Science (MS) in Finance
    • Located in Bloomington
    • Online option
    • 30 semester hours
    • Applicants must have a bachelor's degree in any field
  • Master of Science (MS) in Strategic Finance
    • Located in New Albany
    • 30 semester hours
    • Applicants who have a bachelor's degree in an unrelated field must complete an additional semester of courses
  • Master of Finance Degree
    • Online only
    • 30 semester hours
    • Applicants can have a bachelor's degree in any subject, as well as related background knowledge

Graduate Certificates in Finance – Designed for professionals who already have a background in finance or business interested in gaining competitive credentials:

  • Executive Certificate in Financial Planning
    • Located in Marion
    • Online option
    • 18 semester hours
    • Applicants should have a background in business
  • Masters Certificate in Financial Planning
    • Located in Marion
    • Online option
    • 18 semester hours
    • Applicants should have a background in business
  • Certificate in Public Budgeting and Financial Management
    • Located in Bloomington
    • Online option
    • 15 semester hours
    • Applicants can have a bachelor's degree in any subject

MBAs in Finance – Designed for professionals with a background in business interested in becoming business leaders in the area of corporate finance:

  • MBA in Finance
    • Located in Bloomington
    • Online option
    • 51 semester hours
    • Applicants must have a bachelor's degree in any field
  • MBA in Personal Financial Planning
    • Located in Marion
    • Online option
    • 42 semester hours
    • Applicants must have a bachelor's degree in any field
  • MBA with a concentration in Finance
    • Located in Kokomo
    • 30 semester hours
    • Applicants who do not have a bachelor's degree in a related field will need to complete 8 additional semester hours
  • MBA with a concentration in Finance
    • Located in Anderson and Indianapolis
    • 41 semester hours
    • Applicant's can have a bachelor's degree in any subject

Doctorate Degrees in Finance – Designed for consultants, researchers and educators:

  • Doctor of Business Administration (DBA) with a major in Finance
    • Located in Anderson
    • Some classes offered online
    • 90 semester hours
    • Applicants must have a master's degree that includes at least 30 semester hours of graduate coursework in a business-related field
  • Doctor of Philosophy (PhD) in Finance
    • Located in Bloomington
    • 90 semester hours
    • While some students are admitted after earning a bachelor's degree in any field, most students who are admitted to this program have a master's degree in any field
  • Doctor of Philosophy (PhD) in Management with a major in Finance
    • Located in West Lafayette
    • 48-60 semester hours
    • Applicants must have at least a bachelor's degree in any subject

Key Players in Indiana's Finance Industry

Some of the key players in Indiana’s financial services sector as indicated by the direct-comparison platform Credio include:

  • 40|86 Advisors headquartered in Carmel – fixed income advising with 80 corporate employees; $26 billion in assets under management
  • OneAmerica Asset Management headquartered in Indianapolis – specializing in asset management, employee benefits, retirement, and life insurance with 29 corporate employees; $18.7 billion in assets under management
  • Oxford Financial Group headquartered in Carmel – one of the largest Registered Investment Advisor (RIA) firms in the nation with 150 corporate employees; $13.3 billion in assets under management
  • 1st Source Corporation Investment Advisors headquartered in South Bend – individual and institutional investment management with 12 corporate employees; $3 billion in assets under management

Wages in Indiana’s Financial Services Sector

The US Department of Labor reported the following statistics for 2016. These annual figures are listed in order starting with the 10th percentile income, the average income, and the 90th percentile income:

  • Financial Managers – $51,250; $113,150; $198,390
  • Accountants and Auditors – $37,800; $65,880; $99,960
  • Budget Analysts – $43,430; $69,320; $101,160
  • Financial Analysts – $45,590; $74,530; $108,950
  • Personal Finance Advisors – $37,260; $104,710; $208,000*
  • Financial Examiners – $44,870; 481,440; $130,230
  • Loan Officers – $32,340; $66,680; $113,080
  • Securities, Commodities, and Financial Services Sales Agents – $32,410; $96,940; $208,000*

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

Job Growth Projections for Finance Professionals in Indiana

The Indiana Department of Workforce Development released the following long-term forecasts for finance profession job growth from 2014 to 2024:

  • Personal Finance Advisors – 19 percent growth
  • Financial Examiners – 16 percent growth
  • Accountants and auditors – 14 percent growth
  • Loan Officers – 11 percent growth
  • Financial Managers – 9 percent growth
  • Financial Analysts – 8 percent growth
  • Budget Analysts – 8 percent growth
  • Securities, Commodities, and Financial Services Sales Agents – 6 percent growth

 

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