Finance Programs in Hawaii
The lovely state of Hawaii has five colleges that offer finance programs. Four schools have Associate's degrees in finance, and there are four Bachelor's programs in finance. Three colleges offer Master's-level programs in finance and only one school, the University of Hawaii at Manoa, has a doctorate-level finance program.
The cost of attending school for finance in Hawaii is considerably lower than the cost in many other states. The average annual tuition is $10,887 per year. There are also considerable financial aid opportunities; the average scholarship package is $3,995.
Some of the best finance programs in Hawaii are at Brigham Young University, University of Hawaii at Manoa, and Hawaii Pacific University.
There are many different finance specialties within the five programs in Hawaii. The University of Hawaii at Manoa offers a finance major with six different specialization options. Students can choose to specialize in Asian Finance, Corporate Finance, Financial Services & Planning, Investment Management, Insurance & Risk Management, or Real Estate Finance. This is how the University of Hawaii at Manoa sets itself apart from other finance programs in the country. The option to specialize in Asian finance is very important, given the rising importance in Asian markets.
Hawaii Pacific University does not have the option for students to focus on a finance specialty. However, it does provide a well-rounded education including classes in Personal Finance, Advanced Derivatives, Real Estate Finance, International Trade & Finance, and Investments.
Those who are interested in an Associate's degree in finance can expect to spend about two years in school. An Associate's degree in finance does not involve as many in-depth classes as a Bachelor's degree. Instead, these classes cover the basics of finance, accounting, and bookkeeping.
While many finance careers—both for Associate's and Bachelor's degrees—do not require licensure, many of the highest-paying finance careers do require examination and licensing. Investment advisors in Hawaii must register with the Securities Division of the Department of Commerce. Before registering, advisors must take either the Series 65 examination or the Series 7 and Series 66 exams.
Those who plan on working as a stockbroker in Hawaii must also register with the state. Stockbroking licensure goes through the Commissioner of Securities, per the Hawaii Uniform Securities Act. Prior to registration, stockbrokers must pass the Series 63 or 66 examination. The Series 6 or Series 7 examination is also required, depending on which types of stocks a stockbroker plans on selling.
Another career path that requires licensure is the selling of fixed annuities and life insurance. Since Hawaii has a large percentage of retired residents, this is one of the fastest-growing careers for finance professionals. Someone who plans on selling fixed annuities or life insurance must take a Pearson VUE test and then keep up with 21 hours of continuing education hours every two years.
There are many thriving finance employers spread out amongst the islands of Hawaii. Some of the biggest employers in Hawaii include Robert Half Finance & Accounting, Maverick Trading, Westlake Financial, Central Pacific Bank, and Bank of Hawaii.
Average salaries for Hawaii finance professionals are very close to national averages. Some of the highest paid finance careers in Hawaii include financial examiners, who make an average of $71,190 per year; tax examiners, who make an average of $70,680 per year; and financial analysts, who make an average of $73,590 per year. Occupations on the lower end of the salary range include credit counselors, at an average of $41,800 per year, and tax preparers, earning an average of $47,080 per year.
Graduates with an Associate's degree in accounting often work as financial clerks, payroll clerks, and bookkeepers. Salaries for these jobs range from an average of $34,390 to an average of $39,680.