Finance Programs in Oklahoma
Oklahoma has 24 colleges and universities that offer finance degrees. Of those 24 schools, 12 schools have Associate's degrees in finance. Fifteen schools have Bachelor's level programs in finance, while 13 schools have Master's degrees. Six schools have the PhD option and three schools have certificates in finance.
The average cost of tuition is $11,767, which may seem a little high for the Midwest. However, the vast majority of finance schools are clustered in and around Oklahoma City, explaining the higher tuition.
All of the finance schools in Oklahoma are high-quality. The top three in the state are at the University of Oklahoma – Norman Campus, Oklahoma State University – Main Campus, and the University of Tulsa. The first two colleges have fairly high student acceptance rates. However, University of Tulsa is more competitive and only accepts 4% of applicants.
Each degree level has its own advantages. For instance, Oklahoma students who pursue an Associate's degree in finance like the lower tuition cost and the fact that they graduate in two years. It's also a good way to figure out if your chosen field is something you want to keep studying. Classes at this level include Income Tax, Payroll Administration, and Financial Accounting Applications.
Getting a Bachelor's degree at an Oklahoma university is what many students choose to do. They like knowing that there are plenty of career options waiting for them when they finish. Some universities provide an overall education in finance. Others let students choose an area of concentration, as University of Tulsa does. The University of Tulsa gives students three specialty areas to choose from: General Finance, Corporate Finance, or Investments & Portfolio Management. Students take intensive courses like Working Capital Management, International Business Finance, and Investment Analysis.
A Master's degree, like the one offered at University of Tulsa, may be earned on a part-time or full-time basis. Students who go full-time may complete their degree in less than two years. Going part-time may mean going to school for more than two years. Students can often choose a specialization. The University of Tulsa lets students choose from Corporate Finance, Investments and Portfolio Management, or Risk Management.
Before you graduate with your finance degree, it's important to know which career field you want to go into. Some finance careers require additional licensure and examination, which can take time and keep you from working until you've been licensed. The three biggest licensed finance careers in Oklahoma are investment advisors, stockbrokers, and financial planners.
Investment advisors obtain their license from the Oklahoma Department of Securities. Applicants must pass the Series 65 exam; an alternative is passing both the Series 66 and Series 7 exams.
To become a stockbroker in Oklahoma, prepare to take two exams. First, you have to take one of the general Series 63 or 66 exams. Then, you have to take an exam that is specifically related to the products that you will be selling. After passing the exams, you register with the Oklahoma Department of Securities.
Financial planners that sell life insurance and fixed annuities get their license from the Oklahoma Insurance Department. Prior to licensure, you have to pass the state licensing exam. After becoming licensed, you have to do 24 hours of continuing education every two years.
Salaries for finance professionals in Oklahoma are slightly lower than the national averages. According to the Bureau of Labor Statistics, some of the most populated jobs for Bachelor's and Master's degree graduates include auditors, financial analysts, and loan officers. Average salaries range from $38,420 for tax preparers to $77,190 for financial examiners. Associate's degree graduates may work as bookkeepers, payroll clerks, and financial clerks. Average salaries for these careers range from $20,940 to $42,260.
There are many businesses that hire finance graduates. Some of the main ones include AXA Advisors, Edward Jones, First State Investment Advisors, and Retirement Investment Advisors. Other major employers include Farmers Insurance, Maverick Trading, and Morgan Stanley Wealth Management.