Finance Programs and Careers in Maryland

Maryland is home to many large companies and offers employment opportunities for those with degrees in finance. This guide provides information about various options for those interested in earning a finance degree in Maryland. Students can choose from full-time programs as well as flexible part-time and online options. Students in Maryland can pursue programs such as a Bachelor’s of Science (BS) in Business Administration with a Finance concentration, a Master of Business Administration (MBA) in Finance, or a Master of Science in Finance (MSF). Keep reading to learn more about specific degrees in finance, as well as potential post-graduation employment opportunities and salary information for those seeking careers in finance.

Quick Facts

• There are 15 colleges and universities with finance degree programs in Maryland.¹
• 4 schools offer a certificate in finance.¹
• No schools offer an associate’s degree in finance.¹
• 13 schools offer a bachelor’s degree in finance.¹
• 8 schools offer a master’s or advanced degree in finance.¹
• 1 school ranked in Forbes’ Best Business Schools 2019.²
• 1 school 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 Maryland
• Select Schools in Maryland with Finance Degrees
• Maryland Finance Careers and Salary Outlook
• Finance Associations in Maryland

Maryland Finance Program Comparison

We have developed the following table to help you compare finance programs in Maryland from not-for-profit schools. 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.

• — indicates none.
• N.Av. indicates no data available.

Top-Ranked Schools with Finance Programs in Maryland

Forbes’ Best Business Schools 2019

• University of Maryland (#47)

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.

• Johns Hopkins University (#50; $1,508,000)
• Loyola University Maryland (#90; $1,363,000)
• University of Maryland-College Park (#100; $1,330,000)
• University of Baltimore (#194; $1,209,000)
• University of Maryland-Baltimore County (#226; $1,140,000)
• Towson University (#337; $1,066,000)
• Mount St Mary’s University (#405; $1,056,000)
• Salisbury University (#418; $1,048,000)
• McDaniel College (#499; $1,021,000)
• Bowie State University (#739; $954,000)⁷

Princeton Review’s Great Schools for Business and Finance Majors 2020

• McDaniel College

US News & World Report’s Best Undergraduate Finance Programs 2021

• University of Maryland-College Park (#30 tie)
• Loyola University Maryland (#35 tie)

US News & World Report’s Best Graduate Finance Programs 2021

• Loyola University Maryland (#20)

Select Schools in Maryland with Finance Degrees

Traditional Undergraduate Programs

Bowie State University

Bowie State University’s College of Business offers a Bachelor of Science in Business Administration (BSBA) with an emphasis in Banking and Finance. Students seeking careers in finance or banking can master skills necessary for success in the business world through core courses in accounting, business administration, and economics. The AACSB-accredited program emphasizes teamwork and communication to solve real-world business challenges while gaining expertise in the application of financial theories such as asset valuation. Required coursework includes Money, Banking, and Financial Markets; Quantitative Methods Decision-making; and Principles of Finance. Internships are encouraged and students can participate in extracurriculars like the National Association of Black Accountants, Finance and Economics Club, or Delta Mu Delta International Honor Society in Business.

Frostburg State University

At Frostburg State University, students can earn a Bachelor of Science in Business Administration (BSBA) with a concentration in Finance to prepare them for successful careers in the financial sector. The program provides students with academic and career advising at the beginning of the program and small class sizes ensure constant interaction between students and faculty. Students have the option of completing a business internship and joining student organizations such as Society for the Advancement of Management, the Finance Club, Global Business Club, or the Entrepreneurship Club. The degree requires 51-52 credit hours of business administration courses, 12 credit hours of finance courses, and 15 credit hours of electives. Required courses include Financial Institutions Management, Securities Investment, and Financial Management. A capstone course in Financial Policy must be completed before graduation. Minors in Finance and Financial Services are also available.

Traditional Master’s Programs

Johns Hopkins University

The Carey Business School at Johns Hopkins University’s Master of Science in Finance (MSF) emphasizes a theoretical and practical foundation in the finance industry. The core coursework focuses on valuation and financial analysis while also teaching general economic and institutional forces. Students complete courses such as Business Communication, Quantitative Financial Analysis, and Corporate Finance. The program aims to develop managers and analysts who practice transparent and responsible business strategies. A significant portion of the curriculum focuses on preparing students for the Chartered Financial Analyst (CFA) exam. The MSF program can be completed in two ways: students with limited professional work experience can study full-time and working professionals can complete the program on a part-time basis with online options.

Loyola University Maryland

Loyola University Maryland’s Sellinger School of Business offers a Master of Business (MBA) with a specialization in Finance. This AACSB-accredited program is aimed at working professionals looking to move into leadership positions while studying on a part-time basis; hybrid and online options are available. The 39-credit curriculum focuses on technical skills as well as knowledge of financial analysis, corporate finance, and investment management. Loyola boasts small class sizes with primarily Wednesday evening classes. Rolling admissions with start dates in the spring, summer, and fall semester make it possible for students to begin their studies at any time in the calendar year. GRE or GMAT scores are typically required as part of the application process, though waivers may be available for students who qualify.

University of Maryland

At the Robert H. Smith School of Business at the University of Maryland (UMD), students can earn a Master of Finance (MFIN) in one to two years. For those interested in careers in corporate finance or valuation, UMD provides a thorough financial foundation. The 30-credit hour curriculum focuses on developing skills through financial modeling, data analytics, and real-life case study examples. The program includes experiential learning opportunities, such as consulting projects in the region or opportunities with the student-run investment fund. After the core coursework is completed, students can choose electives to specialize in particular areas of finance, such as asset management, corporate finance, or risk management. The Smith School of Business also offers a Master in Quantitative Finance (MQF) for those looking to advance their quantitative and computational skills and a Master of Business Administration (MBA) with a Finance specialization.

Online and Hybrid Programs

University of Baltimore

At the Merrick School of Business at the University of Baltimore, students can earn an online Master of Business Administration (MBA) with a concentration in Finance and pay in-state tuition, no matter where they live. The AACSB-accredited online program is aimed at working professionals, offering the same content and depth as the on-campus classes. Students can start the program at six different points throughout the year and can attend on a part- or full-time basis. The 36-48 credit hour curriculum is a mix of core classes and electives, focusing on skills such as leading and managing people, managing innovation and strategy, and managing performance and risk. Students can combine electives to create a general Finance specialization or a specialization in Corporate Finance, Investment Management, or Financial Institutions. Finance specialization courses include Entrepreneurial Finance; Finance and Accounting Analytics; and Advanced Financial Analysis. Students are prepared for positions in leadership and management in the financial field after graduation.

University of Maryland Global Campus

At the University of Maryland Global Campus (UMGC), students can earn a Bachelor’s of Science (BS) in Finance online that is accredited by the IACBE. The curriculum prepares students for real-world challenges of the financial sector and builds a foundation of skills in accounting, economics, and business. Case studies allow students to gain experience in the details of financial management. The program is designed to help students fulfill requirements to sit for the Certified Financial Planner (CFP) and Certified Management Accountant (CMA) exam. Required coursework includes Management and Organization Theory; Investments; and Security Analysis and Valuation. A minor in Finance is also available as well as a Master of Science (MS) in Accounting and Financial Management and an MS in Financial Management.

University of Maryland Global Campus

The University of Maryland Global Campus (UMGC) offers a Master of Science (MS) with a Financial Management specialization. This 36-credit hour online program is designed for mid-career professionals with a background in statistics, finance, and accounting. The IACBE-accredited curriculum is designed with the input from a board of industry leaders who advise the faculty to ensure the coursework is relevant and up-to-date. Classes teach the tools needed to make high-level decisions through case studies and analysis of real-time data sets. Students develop a foundation in management principles, as well as specialized skills in financial decision making. Courses emphasize cost and risk management, long-term financial strategies, and financial analysis. The online program is designed to prepare students to advance in management roles in careers such as financial planning, financial analysis, and investment analysis.

Maryland Finance Careers and Salary Outlook

There are many career possibilities for graduates with degrees in finance in Maryland. The metropolitan areas of Baltimore and Washington DC, in particular, are home to many large companies and financial institutions. Large healthcare institutions, such as Johns Hopkins and MedStar Health, are based in Maryland, providing positions in healthcare financial administration. Investment firms such as Morgan Stanley, UBS Financial Advisors, and First Financial Group, a division of the Guardian Life Insurance Company of America, have corporate centers in the state as well. Financial positions in the federal government are mostly located in and around the Washington DC area.

Positions for graduates with master’s degrees in finance are growing in the state of Maryland. Financial managers earn an average of $149,930 annually in Maryland, slightly above the national average of $147,530.^8,9 Financial examiner positions in Maryland are projected to grow at a rate of 11.4% through 2028, higher than the projected national rate of 7.1%.¹⁰ In the Washington-Arlington-Alexandria metropolitan area, financial examiners earn the second-highest average salary in the country, with an average annual wage of $125,150.^8,11 Financial examiner positions are expected to grow at a rate of 11.4% in Maryland through 2028, higher than the national average of 7.1%.¹⁰

Financial specialists in Maryland earn an average annual wage of $86,780, lower than the national average ($94,160), but the rate of growth for financial specialists in the state is expected to reach 7.5%, comparable to the projected national rate of 6.2%.^10,12 The metropolitan area of Washington-Arlington-Alexandria has the third-highest employment level of financial specialists in the country while California-Lexington Park and the Maryland nonmetropolitan area boast the highest concentration of jobs and location quotients in this occupation nationally.^8,12 Loan officers earn the fourth highest annual salary in the country with an average wage of $87,120 annually in Maryland, significantly above the national average of $76,200.^8,13 Loan officer positions in Maryland are projected to decrease -1.1% through 2028, while nationally loan officer positions are expected to grow at a rate of 7.7%.¹⁰

Maryland Finance Salary Information

Occupation	Number Employed8	Average Salary8
Business and Financial Operations Occupations	176,770	$83,330
Financial and Investment Analysts and Other Specialists	11,250	$86,780
Financial Examiners	920	$75,210
Financial Managers	12,840	$149,930
Loan Officers	4,830	$87,120
Personal Financial Advisors	4,330	$104,510

Finance Associations in Maryland

• Maryland Association of Certified Public Accountants (MACPA): Professional organization dedicated to the continuing education of certified public accountants.
• Mid-Atlantic Association for Financial Professionals (MAAFP): Organization advocating for industry standards that also organizes networking events and continuing education opportunities.
• Financial Planning Association of Maryland (FPAMD): Community of financial planning professionals dedicated to growing and improving the industry through educational events and networking between financial planners.

References:
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. Bureau of Labor Statistics Occupational Employment Statistics, State Occupational Employment and Wage Estimates, Maryland: https://www.bls.gov/oes/current/oes_md.htm
9. Bureau of Labor Statistics Occupational Employment and Wages, Financial Managers: https://www.bls.gov/oes/current/oes113031.htm
10. Projections Central Long Term Occupational Projections: https://projectionscentral.org/projections/longterm
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 and Wages, Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other: https://www.bls.gov/oes/2019/may/oes132098.htm
13. Bureau of Labor Statistics Occupational Employment and Wages, Loan Officers: https://www.bls.gov/oes/current/oes132072.htm