Finance Degree for Jobs in Iowa


Up and coming finance professionals in Iowa can look forward to a particularly strong job market, with job growth projections in the banking sector expected to be much higher than the national average for many occupations according to the Iowa Workforce Development Office’s 2017 report. According to the US Department of Labor, Iowa's 66,190 finance professionals earned a total of $4.26 billion in 2016 alone. That same year, Iowa’s financial services industry contributed $40.59 billion to the state’s Gross State Product (GSP) and was the largest industry in Iowa according to the US Bureau of Economic Analysis.

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Degrees for Finance Majors in Iowa

Prospective finance majors in Iowa will find finance degrees at all levels (associate’s degrees to specialized MBAs) through online programs and campus based business schools in the state.

Associate's Degrees in Finance – Designed for new professionals preparing to work as Series 7 licensed stockbrokers or trust administrators, among others:

  • Associate of Arts (AA) in Financial Administration
    • Located in Des Moines, Ankeny, Boon, Carroll, and Newton
    • Online option
    • 64 semester hours
  • Associate of Applied Science (AAS) in Business Administration, Financial Services
    • Located in Cedar Rapids
    • Some classes offered online
    • 65 semester hours
  • Associate of Applied Science (AAS) in Finance
    • Located in Calmar
    • Some classes offered online
    • 74 semester hours

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

  • Bachelor of Business Administration (BBA) in Finance
    • Located in Iowa City
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Arts (BA) in Finance
    • Located in Cedar Falls
    • Some classes offered online
    • 120 semester hours
  • Bachelor's Degree in Finance
    • Located in Cedar Rapids
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Arts (BA) in Business Administration with a concentration in Finance
    • Located in Waverly
    • Some classes offered online
    • 120 semester hours

Master's Degrees in Finance – Designed for those preparing for careers in risk management in corporate finance, as well as wealth managers and advisors, among others:

  • Master of Finance
    • Located in Ames
    • 40 semester hours
    • Applicants can have a bachelor's degree in any subject and should also have a strong foundation in mathematics
  • Master of Financial Management
    • Located in Des Moines
    • 36 semester hours
    • Applicants can have a bachelor's degree in any subject
  • Master of Science (MS) in Finance
    • Online only
    • 32 semester hours
    • Applicants can have a bachelor's degree in any subject

Graduate Certificates in Finance – Designed for business professionals who want to add to their financial skills:

  • Financial Asset Analysis
    • Located in Des Moines
    • 15-18 semester hours
    • Applicants can have a bachelor's degree in any subject
  • Financial Decision Making
    • Located in Des Moines
    • 15 semester hours
    • Applicants can have a bachelor's degree in any subject
  • Graduate Certificate in Finance
    • Online only
    • 15 semester hours
    • Applicants can be admitted upon completion of prerequisites, no degree required

MBAs in Finance – Designed for those with a background in business looking to become financial managers in corporate finance, among other corporate leadership positions:

  • MBA in Corporate Finance
    • Located in Iowa City
    • 60 semester hours
    • Applicants can have a bachelor's degree in any subject
  • MBA in Investment Management
    • Located in Iowa City
    • 60 semester hours
    • Applicants can have a bachelor's degree in any subject
  • MBA in Finance
    • Online only
    • 48-60 quarter hours
    • Applicants can have a bachelor's degree in any subject

Doctorate Degrees in Finance – Designed for those who want to reach their full career potential, such as model and hour risk managers or finance educators and researchers, among others:

  • Doctor of Philosophy (PhD) in Finance
    • Located in Iowa City
    • 48-60 semester hours
    • Applicants can have a bachelor's degree in any subject
  • Doctor of Business Administration (DBA) with a specialization in Finance
    • Online only
    • 82 quarter hours
    • Applicants can have a master's degree in any subject

Iowa’s Top Financial Services Firms

Credio reported that top firms in Iowa’s finance sector as of 2017 include:

  • Principal Global Investors headquartered in Des Moines – investment company specializing in fixed income, equities, real estate, and multi-asset management with 1,089 corporate employees and $194 billion in assets under investment
  • Principal Management Corporation headquartered in Des Moines – investment firm catering to companies and trustees with 179 corporate employees and $183 billion in assets under management
  • Aegon USA Investment Management headquartered in Cedar Rapids – global institutional asset management firm with 380 financial professionals and $114 billion in assets under management
  • Cambridge Investment Research Advisors headquartered in Fairfield – independent broker-dealer company with more than 2,400 independent registered representatives and more than $28 billion in assets under management

Wages for Professionals in Iowa’s Financial Services Industry

Wages are influenced by factors like education, experience, and the employer firm. The following annual numbers for income are provided by the US Department of Labor for 2016 (10th percentile average, total average income, and 90th percentile average):

  • Financial Managers – $55.020; $110,290; $181,390
  • Accountants and Auditors – $37,850; $65,470; $181,390
  • Budget Analysts – $46,410; $68,890; $93,790
  • Financial Analysts – $46,640; $78,740; $117,710
  • Personal Finance Advisors – $38,230; $95,480; $208,000*
  • Financial Examiners – $42,200; 474,330; $117,070
  • Loan Officers – $36,660; $69,500; $110,520
  • Securities, Commodities, and Financial Services Sales Agents – $30,010; $81,460; $168,230

* This value is equal to or greater than $208,000.  The US Department of Labor does not publish wages that exceed this amount.

Job Growth Projections in the Field of Finance

The Iowa Workforce Development Office published its job growth projections for professionals in the finance industry for the period between 2014 and 2024:

  • Personal Finance Advisors – 27 percent growth
  • Financial Examiners – 18 percent growth
  • Loan Officers – 16 percent growth (double the national average)
  • Accountants and Auditors – 16 percent growth
  • Financial Analysts – 15 percent growth
  • Securities, Commodities, and Financial Services Sales Agents – 14 percent growth
  • Financial Managers – 13 percent growth

 

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