Finance Programs in Kentucky
Finance Schools in Kentucky
Online Finance Programs:11
Average Scholarship Package:$8,035
Average Grant Amount:$10,011
Average Housing Cost:$4,501
Average Gender Ratio:46% Men / 53% Women
Average Student-to-Faculty Ratio:19:1
Kentucky has a wide variety of business and finance schools. Overall, there are 14 different colleges that offer finance degrees in Kentucky. Ten of those schools have Associate’s degrees in finance, and 13 have Bachelor’s degrees in finance. Ten schools offer Master’s degrees in finance, and eight schools offer doctorate degrees in finance.
Average annual tuition at one of these schools is $13,655. However, there are many financial aid options. Fidelity Investments offers an annual scholarship to finance majors throughout the state, and there are many other school-specific scholarships.
Earning an Associate’s degree in finance at a Kentucky college is a wise choice for someone that isn’t sure they want to put four years into a degree. This degree will take approximately two years, and it gives students a strong base knowledge in many areas of finance. Programs like the one at West Kentucky Community and Technical College offers classes like Financial Accounting, Managerial Accounting, and Principles of Marketing. In many cases, credits from an Associate’s degree will transfer to a Bachelor’s degree.
There are many schools that offer Bachelor’s programs in finance. Western Kentucky University has a very strong finance program that allows students to choose between a Financial Management track and a Financial Planning track. In addition, students get to work at managing a number of funds with finance students from nearby universities. This hands-on experience is valuable in the job market.
Other Bachelor’s degrees offer finance as a specialization within a business degree. Berea College has students take base business classes in addition to Money and Banking, Investment Analysis, and Intermediate Corporate Finance. This type of degree gives students experience in both business and finance.
A graduate degree in finance will take the average student about two years to complete. Students interested in a Master’s degree in finance must have a Bachelor’s degree. It may or may not have to be in finance, depending on the individual university’s requirements. Classes offered at this level include Corporate Finance, Accounting for Decision Making, and Managerial Economics.
Certain finance careers require licensing in Kentucky. This is mostly limited to careers for Bachelor’s or Master’s level careers, as the majority of Associate’s degree holders will take an entry-level position after graduation. If you are interested in becoming an investment advisor, stockbroker, or insurance producer, you must be licensed through the appropriate venue.
Investment advisors must be registered with the Kentucky Department of Financial Institutions Division of Securities, per the Kentucky Security Act. If they work with more than $100 million in assets, they must also be registered on a national level. Investment advisors must pass the Series 65 exam with a score of 94.
To become a stockbroker in Kentucky, you must register with the Kentucky Securities Division. Before becoming registered, you must take the Series 63 exam and earn 43 or higher. You may also take the Series 66 exam and earn 75 or higher. Continuing education requirements mean that stockbrokers must take a training course within 120 days after being licensed for two years. They must then take the training course every three years.
Working with life insurance and fixed annuities requires you to become licensed by the Kentucky Department of Insurance. Prior to becoming licensed, you must take 20 hours of an education course. The licensing exam is then taken online at the National Insurance Producers Registry. After licensure, 24 hours of continuing education are required every two years.
Finance graduates in Kentucky have a wide selection of places to work. Some of the major finance employers in Kentucky include Fidelity Investments, Yum! Brands, Inc., Robert Half Finance & Accounting, Robert Half Management Resources, New York Life Insurance Company, and Ameriprise Financial.
As of May 2020, finance professionals in Kentucky earned the following average salaries:
- Financial analysts: $74,590
- Financial managers: $111,010
- Personal financial advisors: $105,950
Between 2018 and 2028, the number of jobs among the state’s financial analysts is projected to increase by 10%, resulting in about 180 annual job openings during this ten-year period when combined with retirements and natural job turnover.
Between 2018 and 2028, the number of jobs among the state’s financial managers is projected to increase by 18%, resulting in about 660 annual job openings during this ten-year period when combined with retirements and natural job turnover.
Between 2018 and 2028, the number of jobs among the state’s personal financial advisors is projected to increase by 9.8%, resulting in about 200 annual job openings during this ten-year period when combined with retirements and natural job turnover.
May 2020 Bureau of Labor Statistics salary and job market trends for financial analysts, financial managers, and personal financial advisors. Figures represent state data, not school specific information. Conditions in your area may vary. Data accessed April 2021.
Job growth projections for financial and investment analysts, financial managers, personal financial advisors sourced from the U.S. Department of Labor-sponsored O*Net database and based on state-specific information (2018-2028)