Finance Degree for Jobs in Rhode Island


Aspiring finance professionals can expect strong growth in Rhode Island’s finance sector. In fact, the Rhode Island Department of Labor and Training has projected strong job growth for six of the most common finance professions, including financial managers, budget analysts, financial analysts, accountants and auditors, financial examiners and brokers.

Rhode Island's location south of Massachusetts gives financial professionals in the state unique flexibility in choosing a career path. Northern Rhode Island is only an hour from the top financial institutions in Boston and only 30 minutes from financial companies in Worcester. Meanwhile, large banks and insurance companies are found in cities throughout Rhode Island, allowing financial professionals to work closer to home.

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Degrees Available to Finance Majors in Rhode Island

Students in Rhode Island hoping to capitalize on the growing opportunities in the state’s financial services sector can choose from a variety of local schools offering both online programs and traditional classroom-based programs:

Bachelor’s Degrees in Finance  Designed for loan officers, series 65 licensed investment advisors, financial specialists, and more:

  • Bachelor of Science (BS) in Finance
    • Located in Bristol
    • Four finance courses required
  • Bachelor of Science in Business Administration  Finance
    • Located in Kingston
    • 120 hours
  • Bachelor of Science (BS) in Financial Management
    • Located in Newport
    • 66 hours
  • Bachelor of Science (BS) in Finance
    • Located in Providence
    • 122 hours
  • Bachelor of Science (BS) in Finance
    • Located in Providence
    • 71 hours

Master’s, MBA, and Doctoral Degrees in Finance  Designed for aspiring financial managers, budget analysts, and executive-level leaders in corporate finance:

  • Master of Science in Finance (MSF)
    • Located in Kingston
    • Ten-course program
  • Master of Business Administration (MBA) with a Specialization in Finance
    • Located in Kingston
    • One-year program
  • Master of Business Administration (MBA) with a Concentration in Finance
    • Located in Providence
    • Full-time or part-time options
  • Master of Business Administration (MBA) with a Concentration in Global Finance
    • Located in Smithfield
    • 37 hours
  • PhD in Finance
    • Located in Kingston
    • Four-year program

Rhode Island’s Top Local Financial Institutions

Rhode Island’s finance majors do not have to look far to find outstanding job opportunities. Rhode Island is home to several large banking and insurance institutions, which are among the state’s top employers in the finance industry:

  • FM Global in Johnston  Stock Insurance
  • Amica Mutual Insurance in Lincoln  Insurance
  • Citizens Financial Group in Providence  Banking
  • Washington Trust in Westerly  Banking
  • Bank Rhode Island (Bank RI) in Providence  Banking

Income Ranges for Rhode Island’s Finance Professionals

Top-level financial managers and personal financial advisors are just some of Rhode Island’s finance professionals that earn incomes well into the six figures. In fact, their average incomes are so high that they exceed the threshold reported by the US Bureau of Labor Statistics. The following wages represent the bottom 10%, the mean annual wage, and the top 10% for finance professionals in Rhode Island (2016):

  • Financial Managers – $71,550; $141,420; $208,000*
  • Auditors and Accountants – $49,220; $77,410; $112,350
  • Budget Analysts – $47,950; $80,150; $116,420
  • Financial Analysts – $51,630; $77,730; $113,220
  • Personal Financial Advisors – $30,930; $127,380; $208,000*
  • Financial Examiners – $55,260; $86,790; $124,650
  • Loan Officers – $31,180; $70,210; $121,050

*Wages are equal to or greater than $208,000 a year.  The US Bureau of Labor Statistics does not publish values this high.

Job Growth Projections for Rhode Island’s Finance Professionals

Job opportunities for Rhode Island’s finance professionals are only expected to grow in the coming years. The Rhode Island Department of Labor and Training projects growth for the following finance jobs during the ten-year period between 2014 and 2024:

  • Financial Managers – 11% growth
  • Accountants and Auditors – 14% growth
  • Budget Analysts – 16% growth (six times the national average)
  • Financial Analysts – 15% growth
  • Financial Examiners – 18% growth
  • Loan Officers – 13% growth
  • Securities, Commodities, and Financial Services Sales Agents (Stockbrokers) – 10% growth

 

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