Finance Programs and Careers in Indiana
This guide is designed to provide information on finance degrees in the state of Indiana. The finance schools in Indiana offer flexible options for prospective students. Some schools even offer online finance degrees, which may be ideal for working students seeking advanced degrees. Select finance programs may also provide opportunities for individuals to gain real-world working experience locally or abroad. Whether you are a first-year student interested in a career in finance, a student looking to switch career paths, or an experienced finance professional looking for a master’s in finance, there is a program available to help you achieve your goals.
- There are 25 colleges and universities with finance degree programs in Indiana.1
- No schools offer a certificate in finance.1
- No schools offer an associate’s degree in finance.1
- 24 schools offer a bachelor’s degree in finance.1
- 7 schools offer a master’s or advanced degree in finance.1
- 3 schools ranked in Forbes’ Best Business Schools 2019.2
- 3 schools ranked in Princeton Review’s Great Schools for Business and Finance Majors 2020.3
- 2 schools ranked in US News & World Report’s Best Undergraduate Finance Programs 2021.4
- 1 school ranked in US News & World Report’s Best Graduate Finance Programs 2021.5
For not-for-profit colleges and universities with finance degree programs.
Table of Contents
- Comparison of Finance Programs
- Top-Ranked Schools with Finance Programs in Indiana
- Select Schools in Indiana with Finance Degrees
- Indiana Finance Careers and Salary Outlook
- Finance Associations in Indiana
Indiana Finance Program Comparison
We have developed the following table to help you compare all of the finance programs in Indiana from not-for-profit schools that offer programs with a concentration in finance. In addition to allowing you to compare the business school’s accreditation, finance degrees that appear in bold are Chartered Financial Analyst (CFA) Institute University Affiliation Programs, those that have been recognized for curricula aligned to preparing for the CFA Exam.
|School Name||Accreditation||Finance Degree(s)||Acceptance Rate6||Grad Rate1||Online Options?||Median Debt7||Net Price1|
|Ball State University||AACSB||BS-Economics;|
BS-Risk Management and Insurance;
Minor-Risk Management and Insurance;
BA-Risk Management and Insurance;
MS-Risk and Insurance
|N.Av.||88%||—||$25,000||$39,923||Franklin College||—||BA-Business: Finance||N.Av.||74%||—||$20,890||$22,904|
|Indiana State University||AACSB||BS-Finance;|
BS-Insurance and Risk Management
|Indiana University Bloomington||AACSB||BSBA-Finance;|
|Indiana University East||ACBSP||Minor-Finance||N.Av.||63%||—||$12,734||$7,110|
|Indiana University Kokomo||AACSB||BS-Finance and Economics||60%||64%||—||$11,244||$8,629|
|Indiana University Northwest||AACSB||BS-Accounting and Finance||N.Av.||64%||—||$11,862||$6,179|
|Indiana University-Purdue University, Indianapolis||—||BS-Business;|
|Indiana University South Bend||AACSB||BS-Finance||N.Av.||68%||—||$11,912||$8,962|
|Indiana Wesleyan University- Marion||ACBSP||BS-Financial Planning;|
MA-Accounting: Financial Accounting;
MBA-Personal Financial Planning
|Purdue University Fort Wayne||AACSB||BSB-Finance||N.Av.||57%||Yes||$12,500||$11,444|
|Purdue University Northwest||AACSB|| BSB-Finance;|
|Taylor University||ACBSP||BA-Accounting and Finance;|
BBUS-Finance and Economics;
BBUS-Banking and Finance
|University of Evansville||AACSB||BSBA-Finance||N.Av.||84%||—||$21,500||$21,978|
|University of Indianapolis||ACBSP||BA-Finance||N.Av.||73%||—||$18,773||$21,161|
|University of Notre Dame||AACSB||BBA-Finance;|
|University of Saint Francis||ACBSP||BS-Finance||N.Av.||69%||—||$18,250||$18,055|
|University of Southern Indiana||AACSB||BA/BS-Finance;|
MS-International Economics and Finance
- — indicates none.
- N.Av. indicates no data available.
Top-Ranked Schools with Finance Programs in Indiana
Forbes’ Best Business Schools 2019
- University of Indiana (#19)
- Notre Dame University (#25)
- Purdue University (#40)
Georgetown CEW’s ROI Ranking by Long-Term Net Present Value 2019
The Georgetown University Center on Education and the Workforce (CEW) has compared 4,500 colleges and universities on graduates’ return on investment (ROI). We use their net present value (NPV) ranking, which is the current dollar value of earning a four-year degree from the school over a 40-year horizon.
- University of Notre Dame (#34; $1,626,000)
- Purdue University (#225; $1,184,000)
- Butler University (#303; $1,113,000)
- Indiana Wesleyan University-Marion (#456; $1,031,000)
- Indiana University-Bloomington (#521; $1,015,000)
- Valparaiso University (#576; $995,000)
- Indiana University-Purdue University-Indianapolis (#933; $913,000)
- Marian University (#1,014; $897,000)
- Franklin College (#1,042; $892,000)
- Trine University (#1,090; $885,000)7
Princeton Review’s Great Schools for Business and Finance Majors 2020
- Butler University
- Indiana University-Bloomington
- University of Notre Dame
US News & World Report’s Best Undergraduate Finance Programs 2021
- Indiana University-Bloomington (#11)
- University of Notre Dame (#19)
- Indiana University (#29 tie)
- Association for Corporate Growth – Indiana (ACG): Dedicated to driving middle-market growth by assisting investors, executives, lenders, and advisors.
- AIM Indiana: Provides education and networking opportunities to appointed financial officers of Indianapolis and other cities in Indiana.
US News & World Report’s Best Graduate Finance Programs 2021
Select Schools in Indiana with Finance Degrees
Traditional Undergraduate Programs
The Mendoza College of Business at the University of Notre Dame offers a Bachelor of Business Administration (BBA) in Finance, is recognized by the AACSB as an accredited member, and is highly ranked by US News & World Report. The curriculum includes courses such as Investment Theory, Corporate Financial Reporting, and Managerial Economics. There is a practicum course offered during spring break, International Portfolio Management Practicum, in which students are offered real-world experience as they interact with leading finance firms. Students also have the option to study Emerging Markets Investing in London. Those who intend to take examinations leading to the Chartered Financial Analyst (CFA) credential can design their degree to prepare for the exam. The Notre Dame Career Center works with students to prepare for graduate school or post-college careers. Past graduates of the Mendoza College of Business have launched careers with companies such as Amazon, Bank of America, Target, and The Walt Disney Company.
At the Schroeder School of Business at the University of Evansville, students can achieve a Bachelor of Science in Business Administration (BSBA) with a major in Finance. The degree requires 124 credit hours comprised of 41 hours of general education, 45 hours of common core, 20 hours of electives, and 18 hours of finance-focused courses such as Corporate Financial Policy, Financial Derivatives, and Risk Management. Through the school’s Institute for Banking and Finance (IBF), students will participate in the university’s experimental program that works with regional businesses. This allows students to apply their knowledge towards community efforts and to interact with financial leaders such as St. Vincent Hospital, Old National Bank, Farm Credit Mid-America, and Donaldson Capital Management. All students are expected to complete an internship prior to graduation.
Traditional Master’s Programs
Indiana University Southeast offers a Master of Science in Strategic Finance (MSSF) that is AACSB-accredited. This degree is designed to help students advance their careers in the financial sector, with a focus on investment management, international financial management, and project management. The MSSF requires 21 credits of core classes and nine credits of electives. Courses include Financial Statement Analysis, Business Analysis and Valuation, Advanced Corporate Finance, and Investment Management. Applications are accepted in June, October, and March. GMAT scores are required as part of the admissions application. Indiana University Southeast offers a variety of professional development services and events for students, including panel discussions from leading financial and business professionals, lecture series, and management development programs. Students also have the option to complete the MSSF degree while simultaneously pursuing a Master of Business Administration (MBA).
The Krannert School of Management at Purdue University offers a Master of Science in Finance (MSF) that can be completed in as few as 10 months across three semesters. This 37-credit graduate degree is designed for working professionals looking to boost their careers in the financial sector. The program prepares graduates for careers in corporate environments, investment management, brokerage, banking, and more. Courses include Accounting for Managers, Financial Modeling, Options and Futures, Financial Statement Analysis, and Financial Econometrics. Work experience is not required in order to apply, but it is encouraged as most students do enter with full-time work experience in relevant fields. Prospective students must submit a topical essay as well as two online recommendations. Program support options include one-on-one career counseling and a broad variety of networking opportunities.
Valparaiso University offers a 37-credit Master of Science (MS) in International Economics and Finance (IEF) which can be completed in as little as 18 months. This finance program is designed for students interested in expanding their knowledge in both finance and global business. The program is divided into four areas of focus: economic theory, advanced statistical analysis, mathematics requirements, and finance theory. An additional 12 elective credits are also required. Courses include International Monetary Economics, Applied Econometrics, Game Theory, and Financial Management. Electives can be taken in Business Law, International Commerce and Trade Law, and International Business Transactions, among other areas. An undergraduate degree from an accredited university is required for admissions consideration, but GMAT scores are not necessary for admission. Valparaiso University regularly holds career development events such as career fairs and on-campus interviews. Students can also join the Financial Management Association (FMA), which provides networking opportunities and job search assistance.
Online and Hybrid Programs
Ball State University offers a Master of Business Administration (MBA) with a Finance concentration that can be completed online, on-campus, or through a hybrid program. This AACSB-accredited program is open to students with or without a business background. However, students without an undergraduate degree in business may need to complete prerequisite coursework. 24 credit hours of core courses and six to nine credit hours of electives are required to complete the degree. Course titles include Statistics and Quantitative Methods, Managerial Finance, Investment Management, and Global Financial Policy. Classes can be taken either part-time or full-time. Students may start in the fall, spring, or summer semester, and GMAT or GRE scores are required to apply. A limited number of graduate assistantships are available for both domestic and international MBA students.
The Scott College of Business at Indiana State University is AACSB-accredited and offers an on-campus Bachelor of Science (BS) in Finance with an online Finance minor. The online Finance minor consists of 15 credit hours and requires students to complete courses in economics and finance as well as a course from a focused topic area such as real estate, capital budgeting, or bank management. There is also an option to complete a finance internship that applies to the required credit hours. All courses in the minor are offered online with no on-campus visits required. Students interested in taking finance courses who do not want to pursue a bachelor’s degree may apply to the university as non-degree students.
Indiana University’s (IU) Kelley School of Business offers a 30-credit Master of Business Administration (MBA) degree with a concentration in Finance that can be completed in as little as 15 months and almost fully online. The first course, Finance Valuation, is the only required in-residence course and is designed to give students an overview of the program and an opportunity to meet and network with classmates. All other courses in the program are completed entirely online. Courses include Managing Accounting Information for Decision Making, Valuation and Capital Investment, and Asset Pricing and Security Valuation. Students have the option to pursue a second master’s degree at the same time through IU’s dual-degree program. Applications are accepted in July for admittance to the fall semester. GMAT or GRE scores are required. Kelley School of Business offers career management services catered directly to business and finance students, giving students access to job-search resources, alumni networking, and personal career coaching.
Indiana Finance Careers and Salary Outlook
Finance jobs are an area of growth in the state of Indiana, making it a great location for recent graduates. Indianapolis is home to many large corporations. The two largest in the state are Anthem, a health insurance company, and the pharmaceutical company Eli Lilly and Company. Other large corporations throughout the state include Steel Dynamics in Fort Wayne, Berry Plastics Corporation in Evansville, and Zimmer Biomet in Warsaw. Indiana is also home to major financial institutions, such as CNO Financial Group in Carmel, Old National Bank in Evansville, First Financial Corporation in Terre Haute, and MainSource Financial Group in Greensburg.
According to the Bureau of Labor Statistics (BLS), finance jobs are steadily growing in Indiana.8 Projected growth for financial manager positions in Indiana through 2028 is just above the national estimate, at 2.6% compared to 2.3%.8 Notably, personal financial advisors are expected to grow rapidly in Indiana, at a projected rate of 9.2% through 2028.8,9 The category of “Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, and All Other” in Indiana reports an average salary of $73,390 per year, compared to the national average of $94,160 for this group.10 Financial examiners earn an average of $78,950 per year in Indiana as compared to an average of $92,330 per year nationally.11 Financial examiner positions are expected to grow by 9.1% over the 10-year period between 2018 and 2028.8
Indiana Finance Salary Information
|Occupation||Number Employed12||Average Salary12|
|Business and Financial Operations Occupations||124,640||$66,930|
|Financial and Investment Analysts and Other Specialists||5,470||$73,390|
|Personal Financial Advisors||4,090||$115,010|
Finance Associations in Indiana
1. National Center for Education Statistics College Navigator: https://nces.ed.gov/collegenavigator/
2. Forbes Best Business Schools 2019: https://www.forbes.com/business-schools/list/
3. The Princeton Review. The Best 382 Colleges, 2020 Edition. The Princeton Review, 2019.
4. US News & World Report Best Undergraduate Finance Schools 2021: https://www.usnews.com/best-colleges/rankings/business-finance
5. US News & World Report Best Graduate Finance Schools 2021: https://www.usnews.com/best-graduate-schools/top-business-schools/finance-rankings
6. US News & World Report Best Business Schools 2021: https://www.usnews.com/best-graduate-schools/top-business-schools
7. Georgetown University Center on Education and the Workforce, Ranking ROI of 4,500 US Colleges and Universities: https://cew.georgetown.edu/cew-reports/CollegeROI/
8. Projections Central Long Term Occupational Projections: https://projectionscentral.org/projections/longterm
9. Bureau of Labor Statistics Occupational Employment and Wages, Personal Financial Advisors: https://www.bls.gov/oes/current/oes132052.htm
10. Bureau of Labor Statistics Occupational Employment and Wages, Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other: https://www.bls.gov/oes/current/oes132098.htm
11. Bureau of Labor Statistics Occupational Employment and Wages, Financial Examiners: https://www.bls.gov/oes/current/oes132061.htm
12. Bureau of Labor Statistics Occupational Employment Statistics, State Occupational Employment and Wage Estimates, Indiana: https://www.bls.gov/oes/current/oes_in.htm