What is Finance?
Finance is an acclaimed field of study that equips students with an in-depth knowledge of finance, investments, and money management. Michigan boasts many colleges and universities offering finance degree programs, yet how many people actually find employment within this industry? According to data provided by the Bureau of Labor Statistics (BLS), as of May 2020 there were approximately 33,210 individuals employed in business and financial operations occupations across Michigan; of this total number, approximately 8,230 held positions specifically as financial analysts or advisors.
A finance professional is an individual who specializes in the management, analysis, and planning of financial activities. These activities may include budgeting, forecasting, investment analysis, risk management, and financial reporting. Finance professionals work across various industries such as banking, insurance companies, accounting firms, government institutions, or organizations.
In today's economy, where every organization is focused on maximizing profits while minimizing risks, the role of finance professional has become more critical than ever before. They are responsible for ensuring that all financial transactions comply with legal and regulatory requirements, while also ensuring that investments generate returns for the organization. A good finance professional must be able to analyze complex data sets quickly while also being able to communicate their findings clearly and effectively to stakeholders within the organization.
Top Ranked Campus & Online Finance Programs in Michigan
University of Michigan-Ann Arbor
Score: 89.18
- Undergraduate Tuition
- In-State: $17,228
- Out-of-State:$58,072
- Net Price: $19,318
- Acceptance Rate: 18%
- Retention Rate: 97%
- Graduation Rate: 93%
- Total Enrollment: 51,225
- Undergrad Students: 32,695
- Graduate Students: 18,530
- Grads Salary: $88,000
- Student-to-faculty: 12:1
University of Detroit Mercy
Score: 77.32
- Undergraduate Tuition
- In-State: $32,300
- Out-of-State:$32,300
- Net Price: $18,197
- Acceptance Rate: 91%
- Retention Rate: 85%
- Graduation Rate: 73%
- Total Enrollment: 5,360
- Undergrad Students: 3,156
- Graduate Students: 2,204
- Grads Salary: $84,000
- Student-to-faculty: 11:1
University of Michigan-Dearborn
Score: 74.86
- Undergraduate Tuition
- In-State: $14,944
- Out-of-State:$31,360
- Net Price: $12,444
- Acceptance Rate: 54%
- Retention Rate: 82%
- Graduation Rate: 56%
- Total Enrollment: 8,223
- Undergrad Students: 6,116
- Graduate Students: 2,107
- Grads Salary: $81,000
- Student-to-faculty: 16:1
Michigan Technological University
Score: 74.23
- Undergraduate Tuition
- In-State: $18,392
- Out-of-State:$41,340
- Net Price: $18,235
- Acceptance Rate: 94%
- Retention Rate: 85%
- Graduation Rate: 68%
- Total Enrollment: 7,063
- Undergrad Students: 5,699
- Graduate Students: 1,364
- Grads Salary: $82,000
- Student-to-faculty: 13:1
Michigan State University
Score: 73.65
- Undergraduate Tuition
- In-State: $15,988
- Out-of-State:$43,372
- Net Price: $22,803
- Acceptance Rate: 88%
- Retention Rate: 89%
- Graduation Rate: 82%
- Total Enrollment: 50,023
- Undergrad Students: 39,201
- Graduate Students: 10,822
- Grads Salary: $79,000
- Student-to-faculty: 17:1
Wayne State University
Score: 72.2
- Undergraduate Tuition
- In-State: $14,297
- Out-of-State:$30,419
- Net Price: $15,347
- Acceptance Rate: 75%
- Retention Rate: 84%
- Graduation Rate: 60%
- Total Enrollment: 23,630
- Undergrad Students: 15,958
- Graduate Students: 7,672
- Grads Salary: $77,000
- Student-to-faculty: 14:1
Andrews University
Score: 70.93
- Undergraduate Tuition
- In-State: $33,710
- Out-of-State:$33,710
- Net Price: $24,194
- Acceptance Rate: 91%
- Retention Rate: 82%
- Graduation Rate: 71%
- Total Enrollment: 2,858
- Undergrad Students: 1,295
- Graduate Students: 1,563
- Grads Salary: $78,000
- Student-to-faculty: 10:1
Lawrence Technological University
Score: 70.06
- Undergraduate Tuition
- In-State: $41,872
- Out-of-State:$41,872
- Net Price: $32,641
- Acceptance Rate: 82%
- Retention Rate: 70%
- Graduation Rate: 66%
- Total Enrollment: 2,966
- Undergrad Students: 2,298
- Graduate Students: 668
- Grads Salary: $92,000
- Student-to-faculty: 11:1
Calvin University
Score: 68.99
- Undergraduate Tuition
- In-State: $38,670
- Out-of-State:$38,670
- Net Price: $25,775
- Acceptance Rate: 74%
- Retention Rate: 86%
- Graduation Rate: 77%
- Total Enrollment: 3,231
- Undergrad Students: 2,960
- Graduate Students: 271
- Grads Salary: $70,000
- Student-to-faculty: 12:1
Oakland University
Score: 68.93
- Undergraduate Tuition
- In-State: $14,694
- Out-of-State:$23,188
- Net Price: $15,161
- Acceptance Rate: 90%
- Retention Rate: 75%
- Graduation Rate: 58%
- Total Enrollment: 16,108
- Undergrad Students: 12,841
- Graduate Students: 3,267
- Grads Salary: $77,000
- Student-to-faculty: 17:1
Hope College
Score: 68.75
- Undergraduate Tuition
- In-State: $40,420
- Out-of-State:$40,420
- Net Price: $25,800
- Acceptance Rate: 80%
- Retention Rate: 89%
- Graduation Rate: 80%
- Total Enrollment: 3,251
- Undergrad Students: 3,251
- Graduate Students: N/A
- Grads Salary: $67,000
- Student-to-faculty: 11:1
Central Michigan University
Score: 67.95
- Undergraduate Tuition
- In-State: $14,190
- Out-of-State:$14,190
- Net Price: $15,605
- Acceptance Rate: 79%
- Retention Rate: 72%
- Graduation Rate: 62%
- Total Enrollment: 14,557
- Undergrad Students: 10,401
- Graduate Students: 4,156
- Grads Salary: $72,000
- Student-to-faculty: 17:1
University of Michigan-Flint
Score: 67.58
- Undergraduate Tuition
- In-State: $14,014
- Out-of-State:$31,274
- Net Price: $10,840
- Acceptance Rate: 66%
- Retention Rate: 77%
- Graduation Rate: 46%
- Total Enrollment: 5,985
- Undergrad Students: 4,609
- Graduate Students: 1,376
- Grads Salary: $69,000
- Student-to-faculty: 13:1
Gustavus Adolphus College
Score: 67.46
- Undergraduate Tuition
- In-State: $54,310
- Out-of-State:$54,310
- Net Price: $30,297
- Acceptance Rate: 74%
- Retention Rate: 86%
- Graduation Rate: 76%
- Total Enrollment: 2,072
- Undergrad Students: 2,072
- Graduate Students: N/A
- Grads Salary: $72,000
- Student-to-faculty: 11:1
Northwood University
Score: 67.18
- Undergraduate Tuition
- In-State: $33,000
- Out-of-State:$33,000
- Net Price: $24,616
- Acceptance Rate: 80%
- Retention Rate: 81%
- Graduation Rate: 63%
- Total Enrollment: 2,246
- Undergrad Students: 1,940
- Graduate Students: 306
- Grads Salary: $72,000
- Student-to-faculty: 8:1
Northwood University-Midland
Score: 67.18
- Undergraduate Tuition
- In-State: $33,000
- Out-of-State:$33,000
- Net Price: $24,616
- Acceptance Rate: 80%
- Retention Rate: 81%
- Graduation Rate: 63%
- Total Enrollment: 2,246
- Undergrad Students: 1,940
- Graduate Students: 306
- Grads Salary: $72,000
- Student-to-faculty: 8:1
Saginaw Valley State University
Score: 66.09
- Undergraduate Tuition
- In-State: $12,240
- Out-of-State:$28,752
- Net Price: $12,432
- Acceptance Rate: 76%
- Retention Rate: 72%
- Graduation Rate: 50%
- Total Enrollment: 7,147
- Undergrad Students: 6,468
- Graduate Students: 679
- Grads Salary: $70,000
- Student-to-faculty: 16:1
Ferris State University
Score: 65.97
- Undergraduate Tuition
- In-State: $13,630
- Out-of-State:$13,630
- Net Price: $13,978
- Acceptance Rate: 88%
- Retention Rate: 77%
- Graduation Rate: 49%
- Total Enrollment: 10,072
- Undergrad Students: 9,000
- Graduate Students: 1,072
- Grads Salary: $72,000
- Student-to-faculty: 15:1
Grand Valley State University
Score: 65.88
- Undergraduate Tuition
- In-State: $14,628
- Out-of-State:$20,820
- Net Price: $17,105
- Acceptance Rate: 90%
- Retention Rate: 79%
- Graduation Rate: 66%
- Total Enrollment: 21,648
- Undergrad Students: 18,665
- Graduate Students: 2,983
- Grads Salary: $65,000
- Student-to-faculty: 15:1
Western Michigan University
Score: 65.88
- Undergraduate Tuition
- In-State: $15,298
- Out-of-State:$19,098
- Net Price: $20,030
- Acceptance Rate: 85%
- Retention Rate: 77%
- Graduation Rate: 55%
- Total Enrollment: 17,000
- Undergrad Students: 13,589
- Graduate Students: 3,411
- Grads Salary: $76,000
- Student-to-faculty: 16:1
Spring Arbor University
Score: 65.86
- Undergraduate Tuition
- In-State: $32,580
- Out-of-State:$32,580
- Net Price: $22,375
- Acceptance Rate: 47%
- Retention Rate: 68%
- Graduation Rate: 60%
- Total Enrollment: 2,396
- Undergrad Students: 1,127
- Graduate Students: 1,269
- Grads Salary: $68,000
- Student-to-faculty: 10:1
Lake Superior State University
Score: 65.83
- Undergraduate Tuition
- In-State: $14,266
- Out-of-State:$14,266
- Net Price: $14,336
- Acceptance Rate: 77%
- Retention Rate: 72%
- Graduation Rate: 51%
- Total Enrollment: 1,655
- Undergrad Students: 1,655
- Graduate Students: N/A
- Grads Salary: $69,000
- Student-to-faculty: 13:1
Madonna University
Score: 65.02
- Undergraduate Tuition
- In-State: $27,360
- Out-of-State:$27,360
- Net Price: $18,344
- Acceptance Rate: 65%
- Retention Rate: 76%
- Graduation Rate: 49%
- Total Enrollment: 2,109
- Undergrad Students: 1,766
- Graduate Students: 343
- Grads Salary: $70,000
- Student-to-faculty: 12:1
Cornerstone University
Score: 63.52
- Undergraduate Tuition
- In-State: $29,100
- Out-of-State:$29,100
- Net Price: $20,935
- Acceptance Rate: 82%
- Retention Rate: 82%
- Graduation Rate: 62%
- Total Enrollment: 1,781
- Undergrad Students: 1,433
- Graduate Students: 348
- Grads Salary: $65,000
- Student-to-faculty: 15:1
Eastern Michigan University
Score: 62.52
- Undergraduate Tuition
- In-State: $15,510
- Out-of-State:$15,510
- Net Price: $15,826
- Acceptance Rate: 83%
- Retention Rate: 66%
- Graduation Rate: 45%
- Total Enrollment: 14,018
- Undergrad Students: 11,617
- Graduate Students: 2,401
- Grads Salary: $70,000
- Student-to-faculty: 14:1
Online Finance Education in Michigan
Michigan offers an attractive economic environment and boasts several large financial institutions such as Ally Financial, Quicken Loans, and JPMorgan Chase, which offer opportunities in finance careers. And there are many finance programs in Michigan from a variety of schools and degree programs that can equip students for careers in this sector. Some of the universities in the state that are offering such degrees include University of Michigan - Dearborn, Western Michigan University, Michigan Technological University (Michigan Tech), Michigan State University, Davenport University, Albion College, Concordia University - Ann Arbor, Baker College, Lake Superior State University, Saginaw Valley State University, Lawrence Technological University, and Wayne State University.
For those interested in finance but unable to attend traditional university programs, online finance degree programs provide an alternative path. Offering similar coursework and training while being more accessible and flexible. Overall, Michigan's finance industry remains robust and continues to experience expansion. As the economy recovers from COVID-19 pandemic impacts, demand may increase for finance-related roles within Michigan's state government and local businesses. Michigan offers many opportunities in its finance industry for recent graduates or those with appropriate education/experience who seek new career paths - or are just beginning their journey.
Online Associates (AS)
An associate degree in finance is a great way to jumpstart your career in the finance industry. Many finance colleges in Michigan offer this program with the goal of providing students with fundamental knowledge about finance, accounting, and economics. The curriculum usually includes courses such as financial accounting, microeconomics, business statistics, and principles of management.
One of the benefits of an associate degree program is that it can be completed in two years or less. Graduates who complete these programs can pursue entry-level positions such as financial analyst assistants or accounting clerks before bachelor’s students are even finished with school. An associate degree in finance also provides a solid foundation for further studies at the bachelor’s degree level.
Overall, an associate degree in this field from a reputable finance college and degree program in Michigan can provide you with practical skills necessary for success in different areas of finance including banking, insurance, investment analysis, or even corporate finance. However, moving up may take more experience without a higher level of education.
Online Bachelors (BS)
A bachelor's degree in finance is a popular choice for those who want to pursue a career in the financial industry. Michigan has many colleges and universities that offer finance degree programs including Eastern Michigan University, Grand Valley State University, and the University of Michigan. These programs typically cover topics such as financial analysis, investment management, risk management, and corporate finance.
One unique aspect of pursuing a finance degree in Michigan, rather than through an online learning platform, is the opportunity to gain hands-on experience through internships with major corporations based in the state. Companies such as General Motors, Ford Motor Company, and Quicken Loans are all headquartered in Michigan and often partner with local universities to provide internship opportunities for students.
Graduates with a bachelor's degree in finance from one of these top-ranked Michigan universities can expect to have numerous career opportunities available to them upon graduation. Some common job titles for finance majors include financial analyst, investment banker, portfolio manager, and personal financial advisor. Additionally, graduates may choose to pursue advanced degrees or professional certifications such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) to further enhance their skills and marketability within the industry.
Online Masters (MS)
Michigan is home to several prestigious universities that offer a master's degree in finance. The University of Michigan's Ross School of Business is a top-ranked program that provides rigorous training in finance and prepares students for careers in investment banking, corporate finance, and asset management. The program offers a broad range of courses including financial statement analysis, portfolio management, and risk management.
Another notable institution that offers a master's degree in finance is Michigan State University's Eli Broad College of Business. The program focuses on providing students with the knowledge and skills needed to succeed in the rapidly changing financial industry. Students can choose from various specializations such as Corporate Finance, Financial Markets, Investments & Wealth Management.
In addition to these universities’ programs mentioned above, there are other institutions located throughout the state of Michigan offering finance degrees tailored towards specific fields or career paths such as accounting or financial planning. Overall, students interested in pursuing a master’s in this field have many options available to them within the state of Michigan.
Online Doctorate (PhD)
Pursuing a PhD in finance can be a challenging yet rewarding experience. In Michigan, students have access to several highly-ranked finance colleges and degree programs that offer advanced training in the field. These programs typically require completion of coursework, research papers, and comprehensive exams, as well as completion of an original dissertation.
Michigan's universities offer PhD programs with specializations in finance including corporate finance, investments, financial institutions and markets, international finance, risk management, and insurance. Students enrolled in these programs gain knowledge on various topics such as capital budgeting techniques, analyzing mergers & acquisitions, measuring credit risks, detecting insider trading activities, and others.
Completing a PhD in finance can provide career opportunities for graduates in academia or industry. Graduates may pursue careers such as professors at universities or researchers at think tanks or policy institutes. They could also work for financial institutions like banks or investment firms by providing expertise on emerging trends within the industry. Pursuing a PhD is worth considering for individuals who are interested in advancing their skills and knowledge toward becoming experts within their chosen area of specialization within finance industry.
Online Certifications
Apart from traditional degree programs, there are also plenty of ways to earn certifications in the field of finance, which can help professionals gain expertise in specific areas of finance. For example, the Certified Financial Planner (CFP) certification trains individuals to provide comprehensive financial planning services to clients. The Chartered Financial Analyst (CFA) designation is recognized worldwide and focuses on investment analysis and portfolio management. And there are a variety of other options that can support whatever career in finance you choose.
Overall, obtaining a finance certification can significantly boost one's career prospects by demonstrating advanced knowledge and skills in a particular area of finance. With numerous options available in Michigan, individuals can choose the program or certification that best aligns with their interests and career goals.
Become a Finance Professional in Michigan
If you have a head for numbers and a passion for finance, you may be interested in pursuing a career in finance in Michigan. With its thriving economy and a growing number of opportunities in the financial sector, Michigan is an ideal place to start your journey towards a career as finance professional. Here are the essential steps to take if you want to become finance professional in Michigan.
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Step 1: Earn a Degree in Finance or Accounting
A college degree in finance or accounting lays a strong foundation for a career in finance. Some schools in Michigan offer undergraduate degrees in finance or accounting, while others offer graduate programs. One of the most important rules is to choose a reputable program that is accredited by a recognized accrediting body, such as the Association to Advance Collegiate Schools of Business (AACSB).
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Step 2: Gain Work Experience Through Internships or Entry-Level Positions
Gaining work experience through internships or entry-level positions is crucial to a successful career in finance. Many companies in Michigan offer internship programs for finance students, which provide opportunities to gain real-world experience and make connections in the industry. Entry-level positions, such as financial analyst or accounting assistant, also provide valuable experience and a foot in the door.
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Step 3: Earn Professional Certifications
Earning professional certifications is an excellent way to demonstrate your knowledge and skills to potential employers in the finance industry. Popular certifications for finance professionals include Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), and Certified Financial Planner (CFP). These certifications typically require passing an exam and meeting other education and experience requirements.
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Step 4: Network with Other Finance Professionals
Networking can also be essential for building relationships and finding job opportunities in the finance industry. Joining professional organizations, such as the Michigan Association of Certified Public Accountants or the CFA Society of Michigan, can provide opportunities for networking and professional development.
What Can I Do with a Bachelor's in Finance?
A bachelor's in finance degree provides access to a wide range of career opportunities for graduates. With this degree, students can pursue careers in finance, accounting, investment banking, financial planning and analysis, insurance, and more. Graduates can find employment in various fields such as government agencies, non-profit organizations, banks and other financial institutions, or consulting firms.
In Michigan specifically, there are many job opportunities available for graduates with a bachelor's in this field. Michigan is home to several large corporations like General Motors and Ford Motor Company that require finance professionals to manage their finances effectively. Additionally, the state is home to many smaller businesses that need financial support to grow and remain competitive.
Overall, a bachelor's in finance provides excellent career prospects both nationally and locally. It equips graduates with the skills necessary to analyze complex financial data sets and make sound decisions based on that information. As long as the economy continues to operate on money transactions - which it will - there will always be a need for finance professionals across different industries.