Finance Degree for Jobs in Maine


Situated in a port state with international maritime trade links, in addition to the trade and investment opportunities that come from sharing an international border with Canada, Maine’s financial services industry has enjoyed significant growth in recent years. Major corporations in Maine’s key industries – shipbuilding, healthcare, paper manufacturing, and tourism – all rely on skilled managers and analysts in corporate finance, while the state’s wealthy families and retail investors help support jobs related to banking and consumer finance.

It’s no surprise then that the state’s financial services industry supports a strong job market with prospects for high wages and even higher total compensation packages.

Find Schools

Degrees Available to Finance Majors in Maine

Maine’s business schools offer finance degrees at all levels through online programs designed with working professionals in mind, as well as conventional campus-based programs for full time students:

Associate's Degrees in Finance – Designed for those preparing to become Series 7 licensed Stockbrokers, investment advisor representatives and client services advisors, among others:

  • Associate of Science (AS) in Business Administration with a concentration in Financial Services
    • Located in Augusta and Bangor
    • Online option
    • 61 semester hours
  • Associate of Applied Science (AAS) in Business Administration with a concentration in Finance
    • Located in Wells
    • Some classes offered online
    • 60 semester hours

Bachelor's Degrees in Finance – Designed for those whose career goals include becoming series 65 licensed investment advisors, investment consultants, budget analysts, and more:

  • Bachelor of Science (BS) in Business Administration with a major in Finance
    • Located in Orono
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Science (BS) in Business Administration with a major in Finance
    • Located in Standish
    • 120 semester hours
  • Bachelor of Science (BS) in Business Administration with a major in Finance
    • Located in Portland
    • Some classes offered online
    • 120 semester hours
  • Bachelor of Science (BS) in Business Administration with a concentration in Financial Management
    • Located in Bangor
    • Online option
    • 120 semester hours

Master's Degrees in Finance – Designed for those preparing for a career as Certified Financial Planners (CFP), or senior risk advisors, among many others:

  • Master of Science (MS) in Finance
    • Online only
    • 36-48 quarter hours
    • Applicants must have a bachelor's degree in any field
  • Master of Science (MS) in Finance
    • Online only
    • 32 semester hours
    • Applicants must have a bachelor's degree in any subject

Graduate Certificates in Finance – Designed for professionals who want to add to their credentials and become financial analysts, claims managers and more:

  • Graduate Certificate in Finance
    • Online only
    • 15 semester hours
    • Applicants can be admitted upon completion of prerequisites, no degree required
  • Graduate Certificate in Finance
    • Online only
    • 18-24 semester hours
    • Applicants can have an undergraduate degree in any subject

MBAs in Finance – Designed for professionals from a business background that want to focus their careers on leadership roles in corporate finance:

  • MBA with a concentration in Financial Management
    • Located in Bangor
    • Online option
    • 36 semester hours
    • Applicants who do not have a background in business, or an undergraduate degree in this field, will need to complete one additional course
  • MBA with a concentration in Finance
    • Located in Portland
    • Some courses offered online
    • 39 semester hours
    • Applicants who do not have a background in business may need to take up to 15 semester hours of additional coursework
  • MBA with a concentration in Finance
    • Located in Orono
    • Online option
    • 39 semester hours
    • Applicants can have a bachelor's degree in any field

Doctorate Degrees in Finance – Designed for those whose career goals include becoming finance academicians and researchers, directors of index fund management, or senior account directors, among others:

  • Doctor of Philosophy (PhD) in Business Management with a specialization in Finance
    • Online only
    • 120 quarter hours
    • Applicants must have a master's degree in any subject
  • Doctor of Business Administration (DBA) with a specialization in Finance
    • Online only
    • 82 quarter hours
    • Applicants must have a master's degree in any subject

Maine's Leading Financial Services Firms

According to the US Department of Labor, in 2016 Maine's 68,740 finance professionals earned $ 4.13 billion in wages alone. Maine's leading financial services firms include:

  • R M Davis – Private wealth management firm based in Portland with 42 corporate employees and more than $3.3 billion in assets under management
  • H M Payson – Investing firm for individuals, families and institutions, with 25 corporate employees and more than $2.9 billion in assets under management
  • Vigilant Capital Management – Private wealth management firm based in Portland with 17 corporate employees and $765 million in assets under management
  • Old Port Advisors – Investment management and consulting firm based in Portland with 13 corporate employees and over $533 million in assets under management
  • HeadInvest – Investment management firm based in Portland with 10 corporate employees and $525 million under management

Wages in Maine’s Financial Services Industry

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

  • Financial Managers – $58,320; $109,080; $174,630
  • Accountants and Auditors – $41,670; $64,190; $93,920
  • Budget Analysts – $45,610; $67,320; $95,450
  • Financial Analysts – $52,810; $75,510; $101,340
  • Personal Finance Advisors – $26,090; $142,200, $208,000*
  • Financial Examiners – $35,730; $64,690; $97,310
  • Loan Officers – $34,670; $63,810; $103,670
  • Securities, Commodities, and Financial Services Sales Agents – $34,530; $70,120; $116,870

*This value is equal to or greater than $208,000 a year.  The US Department of Labor does not report income that is higher than this value.

Job Growth Stats for Finance Professionals in Maine

Over the ten-year period from 2014 to 2024, the Maine Center for Workforce Research and Information reports its long-term growth projections for finance jobs throughout the state:

  • Personal Finance Advisors – 19 percent growth
  • Accountants and Auditors – 6 percent growth
  • Financial Examiners – 5 percent growth
  • Loan Officers – 4 percent growth
  • Financial Managers – 3 percent growth
  • Budget Analysts – 2 percent growth
  • Financial Analysts – 2 percent growth

 

Find Schools

maine