Finance Programs in Maine
Finance Schools in Maine
Online Finance Programs:7
Average Scholarship Package:$4,424
Average Grant Amount:$8,187
Average Housing Cost:$3,929
Average Gender Ratio:47% Men / 52% Women
Average Student-to-Faculty Ratio:15:1
The scenic state of Maine has nine colleges that offer finance degrees. Eight of the nine schools have Associate’s-level degrees in finance, and six have Bachelor’s-level programs in finance. There are five Master’s programs in finance and three PhD finance programs. The most affordable schools in the state are community colleges; the most affordable Bachelor’s level program is at University of Maine at Augusta.
The top three finance programs in Maine are at Thomas College, the University of Maine, and the University of Southern Maine. They all have fairly high acceptance rates, making them accessible to many students.
There are many scholarships available for finance students in Maine. Many are available at the University of Southern Maine. They have the Bank of America Scholarship, the Dean John W. Bay Scholarship, and Robert W. Berry Memorial Scholarship.
The degree level that you choose is what determines the educational experience you’ll get from a Maine finance school. If you choose to pursue an Associate’s degree in finance, you can plan on spending about two years in school as a full-time student. Students get an overall education in business and finance with classes like Accounting I, Business Communications, and Financial Management. Students also take general education courses in English, basic mathematics, and science.
Choosing a Bachelor’s degree in finance requires a longer stay in school; full-time students will spend about four years in college to graduate. The Bachelor’s in finance program at the University of Maine prepares students for almost any finance career. Students take classes like Corporate Treasury Dynamics, Electronic Commerce, International Finance, and Investment Strategy.
Students that pursue a Master’s degree in finance will generally have about two years of school to go through. At the University of Maine, students can pursue a Master’s in Business Administration with a concentration in finance. Students take classes like Financial Statement Analysis, Advanced International Finance, Financial Management, and Management of Financial Institutions.
A unique option offered in Maine is the five-year M.B.A. in finance plan. This is a path for students that have strong dedication and performance in their classes. Rather than taking four years to complete a Bachelor’s degree in finance and two years to complete an M.B.A. with a focus in finance, students can complete both degrees in five years at Thomas College.
Certain finance jobs in Maine require licensure. Those with Associate’s degrees in finance typically do not have to worry about getting licensed. However, people in certain Bachelor’s and Master’s degrees in finance often have to get licensed to work in certain careers. In Maine, the main three careers that require licensure are investment advisors, life insurance producers, and stockbrokers.
Investment advisors in Maine must be registered with the Maine Office of Securities. Prior to becoming licensed, you must pass the NASAA Series 65 examination. An alternative to this is taking the Series 7 and Series 66 exam. A requirement unique to Maine is the requirement to attend a state-approved training course.
Life insurance producers must be registered with the Maine Bureau of Insurance. The Maine Life Producer Exam must be passed prior to licensure. After becoming licensed, you must complete 24 hours of continuing education every two years.
If you want to be a stockbroker in Maine, you must maintain a license through the Maine Office of Securities. Stockbrokers take the Uniform Securities Agent State Law Examination or the Uniform Combined State Law Examination. Another exam that tests your knowledge of the products you are going to sell is required. Ongoing education requirements include a computer-based training program that must be completed two years after licensure and every three years after that.
Many major investment firms are headquartered in Maine, offering investment careers to finance professionals. Some of the main firms include Edward Jones, Ameriprise Financial, Bogue Asset Management LLC, Stafford Advisors, and Dow Capital Management.
Other large finance employers in Maine include Robert Half Finance & Accounting, American Management Services, Firestone Industrial Products, and Goldman Sachs.
As of May 2020, finance professionals in Maine earned the following average salaries:
- Financial analysts: $71,570
- Financial managers: $122,940
- Personal financial advisors: $155,240
Between 2018 and 2028, the number of jobs among the state’s financial analysts is projected to increase by 1.9%, resulting in about 50 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 10.3%, resulting in about 240 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 1.6%, resulting in about 50 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)