Finance Degree for Jobs in Virginia


According to a 2017 report published by the US Bureau of Economic Analysis, the financial services industry represents the single largest sector in Virignia in terms of its contribution to the gross state product (GSP), and is also recognized as a major job creator. For the reporting period analyzed, the financial services industry accounted for nearly 20 percent of Virginia’s total gross state product.

Its location just outside the Washington D.C. metro area has contributed to making the Central Virginia region a thriving hub for the financial services industry. The US Bureau of Labor Statistics reported that more than 261,000 finance professionals were employed in Virginia as of 2016.

Experienced finance professionals receive high levels of compensation in Virginia with incomes well into the six figures and income so high for personal financial advisors, financial managers, and stock brokers that it exceeds the reporting threshold for the US Bureau of Labor Statistics.

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Finance Degrees Available through Virginia’s State and Private Universities

Virginia’s top business schools, both large and small, provide finance majors with degree options at all levels that include a number of specialized concentrations. These finance degrees are available through campus-based programs for full-time students as well as flexible online programs designed with working professionals in mind:

Associate Degrees in Finance – Designed for those preparing for entry-level finance jobs as securities, commodities, and financial services sales agents, among others:

  • Associate of Arts in Business Administration with a Concentration in Finance
    • Campus in Richmond, Online Option
    • 96 Hours
  • Associate of Science in Financial Management
    • Online Program
    • 64 Hours
  • Associate of Science in Finance
    • Online Program
    • 60 Hours

Bachelor Degrees in Finance – Designed for those preparing for jobs as loan officers, personal financial advisors, or analysts:

  • Bachelor of Science in Business with a Concentration in Finance
    • Campus in Richmond
    • 120 Hours
  • Bachelor of Science in Business with a Concentration in Risk Management and Insurance/Financial Planning
    • Campus in Richmond
    • 120 Hours
  • Bachelor of Science in Financial Technology with a Concentration in Financial Engineering
    • Campus in Richmond
    • 120 Hours
  • Bachelor of Science in Finance
    • Campus in Fairfax
    • 120 Hours
  • Bachelor of Science in Business Administration with a Major in Finance
    • Campus in Norfolk
    • 120 Hours
  • Bachelor of Business Administration in Finance
    • Campus in Radford
    • 120 Hours
  • Bachelor of Science in Quantitative Finance
    • Campus in Harrisonburg
    • 120 Hours

Masters Degrees in Finance – Designed for those preparing for management and director-level positions in corporate finance, as well as certified financial planners (CFPs), fund managers and more:

  • Master of Science in Business with a Concentration in Finance
    • Campus in Richmond
    • 45 Hours
  • Master of Arts in Economics with a Concentration in Financial Economics
    • Campus in Richmond
    • 30 Hours
  • Master of Science in Commerce with a Concentration in Finance
    • Campus in Charlottesville
    • 45 Hours
  • Master of Science in Finance
    • Online Program
    • 56 Hours

MBAs in Finance – Designed for those preparing to become financial managers, CFOs and other leaders in corporate finance and banking:

  • MBA with a Concentration in Corporate Finance
    • Campus in Richmond
    • 36 Hours
  • MBA with a Concentration in Investments
    • Campus in Richmond
    • 36 Hours
  • MBA with a Concentration in Finance
    • Campus in Norfolk
    • 40 Hours

Graduate Certificates in Finance – Designed for professionals with a business background interested in specializing in finance:

  • Graduate Certificate in Certified Financial Planning
    • Campus in Charlottesville
    • 21 Hours
  • Graduate Certificate in Public and Non-Profit Financial Management
    • Campus in Blacksburg
    • 12 Hours
  • Graduate Certificate in Financial Planning
    • Campus in Richmond
    • 18 Hours

Doctoral Degrees in Finance – Designed for industry leaders, researchers, educators and consultants:

  • Doctor of Philosophy in Finance
    • Online Program
    • 82 Hours
  • Doctor of Business Administration with a Concentration in Finance
    • Campus in Norfolk
    • 57 Hours
  • Doctor of Business Administration in Finance
    • Online Program
    • 120 Hours

Top Firms in Virginia’s Financial Services Sector

According to Credio, a few of the most successful wealth management institutions in Virginia as of 2017 were:

  • Strategic Investment Management – Headquarters in Arlington; $41 billion in assets under management
  • Sands Capital Management – Headquarters in Arlington; $34.9 billion in assets under management
  • Towers Watson Investment Services – Headquarters in Arlington; $27.4 billion in assets under management
  • Thompson Siegel & Walmsley – Headquarters in Richmond; $20 billion in assets under management

Job Growth Estimates for Financial Professionals in Virginia

According to the Virginia Employment Commission, the number of finance jobs in Virginia is expected to grow considerably during the projection period spanning 2014 to 2024:

  • Loan Officers: 10 percent growth
  • Accountants and Auditors: 14 percent growth
  • Budget Analysts: 8 percent growth (three times the national average)
  • Financial Examiners: 16 percent growth
  • Securities, Commodities, and Financial Services Sales Agents: 15 percent growth
  • Financial Managers: 8 percent growth
  • Personal Financial Advisors: 44 percent growth
  • Financial Analysts:  16 percent growth

Annual Wage Expectations for Virginia’s Financial Industry Professionals

The following wages represent the bottom 10 percent average, the overall average, and the top 10 percent average in Virginia for each finance occupation shown (U.S. Bureau of Labor Statistics, 2016):

  • Loan Officers – $33,190; $78,410; $136,500
  • Accountants and Auditors – $48,260; $83,380; $127,030
  • Budget Analysts – $53,670; $87,030; $122,250
  • Financial Examiners – $38,550; $88,100; $157,570
  • Securities, Commodities, and Financial Services Sales Agents – $36,310; $101,410; $208,000*
  • Financial Managers – $79,350; $153,070; $208,000*
  • Personal Financial Advisors – $43,070; $124,360; $208,000*
  • Financial Analysts – $55,610; $92,570; $133,460

*The annual wage is equal to or greater than $208,000. The US Bureau of Labor Statistics does not report data on incomes greater than this value.

 

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