Finance Programs in Arkansas
Arkansas has 17 universities and colleges that offer degrees in finance. Twelve of those schools offer Associate's degrees in finance, while ten offer Bachelor's degrees in finance. Seven have Master's programs in finance and five offer PhD programs in finance.
Some of the most competitive schools in the country are in Arkansas, including Arkansas State University with only a 7% acceptance rate, University of the Ozarks with a 9% acceptance rate, and University of Arkansas at Pine Bluff with a 32% acceptance rate.
University of Arkansas has the most popular and well-renowned finance program in Arkansas, and in fact the entire university was listed as #128 on a list of Best Colleges in America. Batesville and Pine Bluff round out the top three finance programs in Arkansas.
The average length of time it takes to finish an Associate's degree in finance is two years. Most Associate's degrees in this field require students to finish 60 credits. Some of the classes included in an Associate's degree include Principles of Accounting, Algebra, Macroeconomics, and Quantitative Analysis. South Arkansas Community College offers a bridge program that allows students with an Associate's degree in finance to earn their Bachelor's degree in finance.
Many Bachelor's programs in finance require students to choose a concentration, including the University of Arkansas. Here, students can choose from five concentrations: Banking, Financial Management/Investments, Insurance, Personal Financial Management, and Real Estate.
University of Arkansas at Little Rock includes courses in Bank Financial Management, Investment Analysis, Real Estate Finance and Development Portfolio and Management. University of Arkansas at Little Rock students have a unique opportunity in their senior year—they get a chance to manage the $250,000 Ford Investment Trust. This school also offers specializations in Real Estate and Financial Services and Risk Management.
Different financial careers in Arkansas may require exams for people to get their licensure. Schools in Arkansas boast a very high success rate for their students that take these exams.
To become an Investment Adviser Representative, you must have a license. In order to get your license, you must pass either the Uniform Investment Adviser Law Examination or the General Securities Representative Examination with the Uniform Combined Law Examination. This is followed by registering with the Financial Industry Regulatory Authority's Investment Advisor Registration Depository system.
Becoming a stockbroker requires you to register with the Arkansas Securities Department. To be a stockbroker, you must past two securities exams. These test your expertise on the Arkansas Securities Act. Exams include the Securities General Knowledge Examination and the Uniform Securities Agent State Law Examination. After passing these tests, you must submit a Form U-4 Uniform Application for Industry Registration with the Central Registration Depository system. Once you are a licensed stockbroker, you must keep up with licensing requirements two years after licensure and then every three years after that.
The Arkansas Insurance Department requires that financial professionals selling life insurance and fixed annuities to be licensed. You must partake in 36 hours of classroom instruction. Then you take the Arkansas Insurance Department Licensing Exam. Every two years, insurance providers need to have completed 24 hours of continuing education.
Growth for finance graduates is about the same in Arkansas as it is in the rest of the country. However, there are some unique areas for finance graduates to work. Arkansas has gone through significant economic growth in recent years, leading to a surge in business funds and a need for financial planners and analysts.
Additionally, there's a high percentage of adults at retirement age, meaning that there is a great need for personal financial planners and retirement fund specialists. By 2030, experts estimate that there will be a high percentage of young children in Arkansas whose parents will be creating and investing in college funds.
Some of the largest finance employers in Arkansas include Stephens Inc., Edward Jones, First Command Financial Services, and Raymond James. These are large, national investment companies with offices in metropolitan areas of Arkansas.
Salaries for those in financial jobs are fairly consistent with national averages. Financial analysts make an average of $74,080 per year, or $35.62 per hour. The highest paid financial professionals are personal financial advisors, averaging $87,090 per year. The lowest paid financial professionals in Arkansas are tax preparers, who make an average of $13.79 per hour or $28,680 per year.