What Career Options are Available for Finance Majors?
Earning a finance degree in Mississippi can lead to a wide variety of employment opportunities. While graduates often pursue jobs related to money management, banking, and/or economics, this area of study helps individuals develop technical skills that can be applied in almost any industry. In fact, those with knowledge of and experience in the finance field are frequently qualified for various occupations in business, as well.
There are many different kinds of personal and corporate finance professionals in Mississippi. The field is expansive, with employment opportunities available in many different industries. Money management and investment are integral parts of most businesses. As a result, most companies and organizations utilize professionals of this type to some extent.
Responsibilities vary based on the job obtained, but most individuals in this field provide some sort of assistance to individuals, companies, and/or organizations as they develop financial plans, strategies, and/or forecasts. Daily responsibilities also depend largely on employer size and their unique expectations.
Many who graduate with a finance major pursue careers as accountants and auditors. Duties for these professions are relatively standardized throughout the nation. In most cases, these professionals prepare and examine financial records in order to identify possible areas of opportunity/risk, and provide potential solutions to problems. They may also be expected to ensure financial operations run smoothly by examining financial statements, computing taxes owed, making best-practice recommendations to management, suggesting ways to reduce costs while improving profits, and inspecting account books for efficiency.
Top Ranked Campus & Online Finance Programs in Mississippi
University of Mississippi
Score: 83.53
- Undergraduate Tuition
- In-State: $9,412
- Out-of-State:$26,980
- Net Price: $14,289
- Acceptance Rate: 97%
- Retention Rate: 89%
- Graduation Rate: 68%
- Total Enrollment: 22,300
- Undergrad Students: 17,302
- Graduate Students: 4,998
- Grads Salary: $70,000
- Student-to-faculty: 16:1
Mississippi State University
Score: 83.31
- Undergraduate Tuition
- In-State: $9,815
- Out-of-State:$26,580
- Net Price: $15,364
- Acceptance Rate: 75%
- Retention Rate: 81%
- Graduation Rate: 63%
- Total Enrollment: 22,649
- Undergrad Students: 18,305
- Graduate Students: 4,344
- Grads Salary: $73,000
- Student-to-faculty: 16:1
Mississippi College
Score: 76.03
- Undergraduate Tuition
- In-State: $21,698
- Out-of-State:$21,698
- Net Price: $20,874
- Acceptance Rate: 40%
- Retention Rate: 77%
- Graduation Rate: 62%
- Total Enrollment: 3,946
- Undergrad Students: 2,396
- Graduate Students: 1,550
- Grads Salary: $64,000
- Student-to-faculty: 13:1
University of Southern Mississippi
Score: 73.19
- Undergraduate Tuition
- In-State: $9,618
- Out-of-State:$11,618
- Net Price: $14,427
- Acceptance Rate: 99%
- Retention Rate: 70%
- Graduation Rate: 52%
- Total Enrollment: 13,526
- Undergrad Students: 10,258
- Graduate Students: 3,268
- Grads Salary: $66,000
- Student-to-faculty: 15:1
Delta State University
Score: 72.47
- Undergraduate Tuition
- In-State: $8,605
- Out-of-State:$8,605
- Net Price: $14,138
- Acceptance Rate: 99%
- Retention Rate: 64%
- Graduation Rate: 46%
- Total Enrollment: 2,556
- Undergrad Students: 1,889
- Graduate Students: 667
- Grads Salary: $68,000
- Student-to-faculty: 10:1
Online Finance Education in Mississippi
According to the U.S. Bureau of Labor Statistics (BLS), employment for business and financial occupations is expected to increase by 7% from 2021 to 2031. This is about as fast as the average for all occupations in the nation and should result in approximately 980,200 job openings each year. However, it’s good to know that some professions are projected to grow more than other. While employment for accounting and auditing occupations is expected to increase by only 6%, market research analysts should see 19% growth in employment over this ten-year period.
Finance and insurance is the seventh largest industry in Mississippi, accounting for $5.6 billion in revenue each year. As mentioned, however, expertise in this field could lead to employment in many other sectors. Opportunities may also be available in manufacturing, real estate, education, retail, business services, wholesale, transportation, construction, and the arts.
Based on data provided by the BLS, 41,570 business and financial operations professionals were employed in Mississippi as of May 2022. The annual mean wage for these occupations was $67,380, which is significantly higher than the state’s annual mean wage of $45,180 for all occupations.
As a relatively popular major in the United States, many colleges and universities throughout the nation offer degree programs in finance and other similar subjects. Mississippi is home to several state-operated public institutions and community colleges, as well as private higher education institutions and technical schools. While online learning makes it possible to earn a degree from nearly anywhere with internet access, those who plan to seek employment in Mississippi may want to give preference to academic facilities in the state. This is the best way to obtain a geographically relevant education, which can be particularly important when applying for certain licenses and certifications. It’s also common for colleges and universities to establish relationships with local companies and organizations, which can help facilitate internship opportunities while enrolled and professional employment after graduation.
Students interested in completing finance programs in Mississippi will have plenty of options to choose from across the state, from community colleges to larger universities. Some of these options include Mississippi College, Mississippi State University, the University of Southern Mississippi, Jackson State University, Delta State University, etc. Mississippi colleges and universities are ready to help students earn finance degrees, gain experience in portfolio management, knowledge of financial systems and financial markets, and more.
Many colleges and universities in Mississippi offer finance degrees, with programs available at the associate, bachelor’s, master’s, and doctoral levels. Some institutions also offer relevant academic certificate programs, although these are generally most appropriate for current professionals seeking to change fields.
According to the US Bureau of Labor Statistics (BLS), the education standard for most business and finance occupations is a bachelor’s degree. While some entry-level employment opportunities may be available with little-to-no higher education, those with more advanced degrees will have the best professional prospects. Those interested in supervisory roles, in particular, will require master’s degrees.
Online Associates (AS)
Associate degrees in finance generally consist of 60 credit hours of coursework that take full-time students approximately two years to complete. As undergraduate programs, they are typically comprised of both general liberal arts education and major-specific classes. This means that students spend a significant amount of time studying basic communication, mathematics, and science subjects in addition to concepts in finance, accounting, and bookkeeping. Those enrolled can also expect to receive instruction in business, payroll, software, and banking.
This type of degree is ideal for individuals seeking employment as accounting clerks, billing specialists, and bookkeepers. Graduates are often proficient in many simple skills relevant to the field such as financial spreadsheet management, budgeting, tax preparation, and financial data analysis. In many cases, this is enough to qualify candidates for entry-level employment.
A common alternative to entering the workforce immediately after graduation is enrolling in further education. Many choose to continue learning by entering bachelor’s degree programs. This is a natural next step, as most colleges and universities accept academic credit hours from other institutions and apply them towards new graduation requirements. As a result, those with associate degrees often enter as juniors rather than freshmen, with only two additional years of education needed in order to earn more advanced degrees.
Online Bachelors (BS or B.Fin)
Bachelor’s degrees in finance often consist of 120 credit hours of coursework that take full-time students approximately four years to complete. As undergraduate programs, they are typically comprised of both general liberal arts education and major-specific classes. This means students spend a significant amount of time studying basic communication, mathematics, and science subjects in addition to financial planning, forecasting, and investing. Those enrolled can also expect to receive instruction in evaluating financial statements, cash flows, and security markets, as well as accounting principles, financial institutions and markets, investments, and risk management.
Additionally, it’s common for colleges and universities to encourage bachelor’s finance students to select relevant concentrations, or specializations, in the field. Doing this allows those enrolled to tailor their learning so it covers certain areas of study that may be more applicable to their ultimate career goals.
Some concentrations commonly available at this level include:
- Investment Management
- Banking and Financial Services
- Corporate Finance
- Risk Management and Insurance
- Real Estate
This type of degree is ideal for individuals seeking employment as financial planners, accountants, and financial analysts. Regularly considered the education standard for the field, bachelor’s degrees are often the minimum requirement necessary to qualify for many entry-level roles.
Online Masters (MS or M.Fin)
Master’s degrees in finance generally range from 30 to 36 credit hours of coursework that take full-time students approximately two years to complete. Some accelerated programs do exist, however, which may take as little as 18 months to finish.
Unlike undergraduate programs, these no longer incorporate general liberal arts education. Instead, students can expect to focus solely on finance-related subjects. While curriculums vary by institution, classes in business communications, financial accounting, derivatives and risk management, financial modeling and firm valuation, and international financial management are common. Those enrolled are also likely to have the ability to select relevant concentrations in the field.
Some examples of possible specializations at this level include:
- Real Estate Finance
- Computational Finance and Trading Systems
- Derivatives and Risk Management
- Finance and Economics
This type of degree is optimal for individuals seeking employment as financial analysts, financial examiners, financial managers, and personal finance advisors. These tend to be some of the most in-demand and high-paying positions available in the field. Graduates are also likely to receive preference for mid-level employment opportunities. Additionally, many popular finance certifications and licenses require candidates to possess master’s degrees.
Online Doctorate (PhD)
A PhD or doctorate in finance generally consists of between 60 and 120 credit hours that take full-time students four to seven years to complete. Academic programs at this level are generally somewhat customizable. Students work alongside professors to ensure the education they receive is as applicable to their career goals as possible. This is best achieved by strategically selecting elective classes and/or concentrations that align well with career aspirations.
Some academic tracks commonly available include:
- Forensic Accounting
- Accounting Information Systems
- Audit Accounting
- Public Accounting
- Managerial Accounting
Every curriculum is different, but those enrolled can typically expect to study accounting research, advanced statistics, microeconomic theory, and corporate governance. Students are also likely to participate in independent study and research, especially during the later years of programs. Most colleges and universities also expect doctoral and PhD candidates to write and defend dissertations before a board of experts prior to graduation.
It's important to realize that degrees of this type are rarely necessary for obtaining employment in the finance field. Only those seeking jobs in academia and/or research are likely to need this level of education. Graduate may also qualify for lucrative career opportunities in corporate management.
Sources:
- Accountants and Auditors. U.S. Bureau of Labor Statistics
- Business and Financial Occupations. U.S. Bureau of Labor Statistics
- May 2021 State Occupational Employment and Wage Estimates: Mississippi. U.S. Bureau of Labor Statistics
- Finance Certifications. Financial Management Association (FMA)
- Licensing and Exams. Mississippi State Board of Accountancy
- CPA Exam FAQ. National Association of State Boards of Accountancy (NASBA)