Finance Programs and Careers in Minnesota
This guide provides information for those interested in a finance degree in Minnesota. Students can choose from varied programs to find the one that best suits their needs. Some universities offer full-time, accelerated programs on-campus. Other programs are designed for working professionals, offering part-time schedules and fully online options. Graduates with degrees in finance in Minnesota may find opportunities within the state to work as financial analysts, bankers, portfolio managers, accountants, or in other financial industry positions. The information below details different programs available in Minnesota and possible career opportunities after graduation.
- There are 23 colleges and universities with finance degree programs in Minnesota.1
- 3 schools offer a certificate in finance.1
- 3 schools offer an associate’s degree in finance.1
- 20 schools offer a bachelor’s degree in finance.1
- 2 schools offer a master’s or advanced degree in finance.1
- 1 school ranked in Forbes’ Best Business Schools 2019.2
- No schools ranked in Princeton Review’s Great Schools for Business and Finance Majors 2020.3
- No schools ranked in US News & World Report’s Best Undergraduate Finance Programs 2021.4
- No schools 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 Minnesota
- Select Schools in Minnesota with Finance Degrees
- Minnesota Finance Careers and Salary Outlook
- Finance Associations in Minnesota
Minnesota Finance Program Comparison
We have developed the following table to help you compare all of the finance programs in Minnesota 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||Accreditation||Finance Degree(s)||Acceptance Rate6||Grad Rate1||Online Options?||Median Debt7||Net Price1|
|Bemidji State University||IACBE||BSBA-Finance||N.Av.||N.Av.||—||$12,456||N.Av.|
|Concordia College at Moorhead||—||BA-Finance;|
|Concordia University-Saint Paul||—||BS-Finance||N.Av.||51%||—||$15,000||$18,757|
|Fond du Lac Tribal and Community College||—||AS-Business/Financial Services||N.Av.||32%||—||$9,500||$9,069|
|Hamline University||IACBE||BA-Economics: Financial Economics;|
|Metropolitan State University||ACBSP||BS-Finance;|
Minor-Risk Management and Insurance
|Minnesota State University-Mankato||AACSB||BS-Finance;|
|Minnesota State University Moorhead||AACSB||BS-Finance;|
MS-Accounting and Finance
|North Central University||—||BS-Accounting and Finance||N.Av.||51%||—||$19,625||$21,457|
|North Hennepin Community College||ACBSP||AAS-Finance Management||N.Av.||17%||Yes||$8,625||$10,004|
|Saint Cloud State University||AACSB||BS-Finance;|
|Saint Mary’s University of Minnesota||IACBE||BA-Finance;|
|Saint Paul College||—||AS-Finance||N.Av.||27%||Yes||$8,641||$11,359|
|Southwest Minnesota State University||IACBE||BS-Finance;|
|The College of Saint Scholastica||—||BS-Finance||N.Av.||69%||—||$16,808||$24,636|
|University of Minnesota-Crookston||ACBSP||BS-Finance;|
|University of Minnesota-Duluth||AACSB||BBA-Finance;|
|University of Minnesota-Twin Cities||AACSB||BSB-Finance;|
BSB-Finance and Risk Management Insurance;
Minor-Finance and Risk Management Insurance;
|University of Northwestern-St Paul||—||BS-Finance;|
|University of St Thomas||AACSB||BA-Financial Management;|
|Winona State University||AACSB||BS-Finance;|
- — indicates none.
- N.Av. indicates no data available.
Top-Ranked Schools with Finance Programs in Minnesota
Forbes’ Best Business Schools 2019
- University of Minnesota (#32)
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 St. Thomas (#265; $1,142,000)
- University of Minnesota-Twin Cities (#331; $1,094,000)
- College of Saint Scholastica (#399; $1,059,000)
- Concordia University-Saint Paul (#478; $1,027,000)
- Metropolitan State University (#478; $1,027,000)
- Hamline University (#522; $1,014,000)
- University of Minnesota-Duluth (#595; $990,000)
- Saint Mary’s University of Minnesota (#622; $983,000)
- University of Minnesota-Crookston (#742; $953,000)
- Augsburg University (#747; $952,000)
Select Schools in Minnesota with Finance Degrees
Traditional Undergraduate Programs
The Offutt School of Business at Concordia College in Moorhead, Minnesota offers a Bachelor of Arts (BA) in Finance. The program is a participant in the CFA Institute Recognized University program which allows students the option of adding a Chartered Financial Analyst (CFA) track to their degree. Students will build experience in the Finance Lab, which focuses on a curriculum that supports interactive experiences like with StockTrack Global Portfolio Simulation. Students can leverage their career opportunities post-graduation by becoming certified in professional software like Morningstar Direct. The Offutt School of Business further encourages hands-on experience through study away, internships, job shadowing, and volunteer opportunities. Required courses include Corporate Finance, Portfolio Construction and Management, Management of Financial Institutions, and more.
At the University of Northwestern St. Paul students can earn a Bachelor of Science (BS) in Finance. The program teaches students the fundamentals of economics, strategy, risk management, and investments, as well as how to apply this knowledge to markets both large and small. The degree requires 128 credit hours and includes courses in Accounting, Economics; Financial Investments; Money and Banking; and Trusts, Wills, and Estates. The classroom experience places an emphasis on local industry case studies, allowing students to gain a greater understanding of the surrounding market. Internships are required for graduation. Past students have had internship opportunities with institutions such as Wells Fargo, United Airlines, and United Health Group. With the school located close to downtown Minneapolis, students will take regular class trips to the metropolitan area where they will interact with local corporations within the finance industry.
At the Winona State University College of Business, students can earn a Bachelor of Science (BS) in Finance. The major consists of 69-70 credits and students must maintain a minimum 2.0 GPA to graduate. Transfer students must complete a minimum of 50% of the courses required for the degree at Winona State University. The courses cover economics, accounting, real estate, banking, and business administration, among other subjects. Students will also complete a liberal arts education with courses in writing, research, and communication skills. Students are encouraged to take an internship while studying at the College of Business, but it is not required. Students must have a minimum of a 2.75 GPA to apply for internship credit. Those who do take an internship can have three credit hours applied to fulfill one finance elective. Graduates from the College of Business have had careers with companies such as IBM, the Mayo Clinic, US Bank, and other notable firms.
Traditional Master’s Programs
The Minnesota State University-Moorhead Paseka School of Business offers an AACSB-accredited Master of Science (MS) in Finance and Accounting. Classes are offered in the late afternoon and evening to accommodate those who are already in the workforce. The specialized degree requires 31 credit hours composed of 15 core credit hours, 15 elective credit hours, and one portfolio credit hour. The core curriculum includes courses such as Quantitative Methods, Investments, Project/Action Research, Financial Statement Analysis, Advanced Financial Statement Analysis, and Corporate Finance. In addition to core courses, students will choose five elective courses of interest. Students must maintain a 3.0 GPA throughout the program or they will be placed on a six-credit probation the following semester. Graduates will have knowledge of accounting research, solving financial problems, and financial statement analysis, and will have proficient oral and written communication skills.
At the University of Minnesota Carlson School of Management, students can earn a Master of Science in Finance (MSF) over the course of 12 to 16 months. Divided into three semesters, the MSF comprises 39 credits with the option to incorporate an internship into the plan of study. This program is designed for early-career professionals in fields such as corporate finance, security analysis, portfolio management, and investment banking. The curriculum focuses on financial theory, quantitative and computation skills, and their practical applications, covering both finance and business fundamentals. Graduates of the program are encouraged to utilize the university’s career coaching and alumni network in the Twin Cities and worldwide. Major companies local to Minneapolis-St. Paul include US Bancorp, Ameriprise Financial, Thrivent Financial for Lutherans, Target, and UnitedHealth Group.
Online and Hybrid Programs
At the Metropolitan State University College of Management, students can earn a Bachelor of Science (BS) in Finance on-campus or hybrid online. The program is ACBSP-accredited and consists of 120 credit hours, with 22 credit hours in foundational courses, 20 credit hours in the business core, four credit hours in Corporate Finance, four credit hours in Investment and Portfolio Analysis, 16 credit hours of electives, and four credit hours in a capstone course. While many foundational and general education courses can be completed online, some on-campus study is required, including at least 20 credits from business core courses, major required courses, major-related electives, and capstone. The finance program focuses on enhancing critical thinking, quantitative decision making, and strong communication skills. Curriculum objectives include designing a portfolio, applying financial theory to business decision-making, and effectively pricing financial assets.
Students can earn a Finance Certificate through St. Mary’s University of Minnesota (SMUMN) online. The certificate consists of 12 credits and can be completed in two semesters or less. The 100% online format offers students the ability to build a flexible schedule that aligns with their needs. The master’s-level certificate is designed for individuals to advance their careers and can also be applied towards a master’s degree at SMUMN. The curriculum focuses on developing essential financial skillsets including navigating financial markets, building secure budget systems, and portfolio management. Courses include Corporate Finance; Financial Markets and Institutions; International Finance Management; and Security Analysis and Portfolio Management. Applicants must have an undergraduate degree from a regionally accredited institution with a minimum GPA of 2.75.
Through the University of Minnesota-Crookston students are able to obtain a Bachelor of Science (BS) in Finance entirely online, primarily online (80%), partially online (50%), or on-campus. The same curriculum is taught both online and on-campus, which allows full flexibility for students to navigate between the campus and the online classroom. The 120-credit program is ACBSP-accredited and consists of 22 business core credits, 40 liberal arts credits, 40 credits of finance core, three credits of technology requirements, and 15 credits of additional open elective courses. The curriculum is aimed to equip graduates with a theoretical and analytical framework and the ability to assess financial needs, securely mitigate risk, and work effectively in financial institutions. Potential career paths for graduates include financial analyst, personal financial advisor, actuary, and other paths in securities, commodities, and financial services.
Minnesota Finance Careers and Salary Outlook
Minnesota has many possible career opportunities for graduates from finance schools. The state’s metropolitan center is the Twin Cities of Minneapolis and St. Paul, but smaller cities like Duluth and Bloomington are also home to many companies. Well-known companies such as Target, General Mills, and 3M are headquartered in the state as well as multinational companies like Cargill and Carlson Companies. Financial services institutions such as Thrivent Financial, US Bancorp, and TCF Financial Corporation are also based in Minnesota.
Positions in the finance industry in Minnesota are growing and those with a degree in finance can find various career opportunities within the state. Financial managers in Minnesota earn an average wage of $137,100 annually and positions in this field are projected to grow by 16.3% through 2028.8,9 Minnesota also has a high employment level of financial examiners, who earn an average of $92,440 annually in the state, and are projected to grow by 9% which is higher than the national projected rate of 7%.8 Personal financial advisor positions are projected to grow by 10.7% in Minnesota through 2028, compared to the national rate of 7%; in Minnesota, personal financial advisors earn an average salary of $110,060.8,9
Minnesota Finance Job Information
|Occupation||Number Employed8||Average Salary8|
|Business and Financial Operations Occupations||171,550||$75,940|
|Financial and Investment Analysts and Other Specialists||9,460||$89,770|
|Personal Financial Advisors||3,900||$110,060|
Finance Associations in Minnesota
- Minnesota Association for Financial Professionals (MNAFP): Organization for professionals in the financial industry that hosts educational events, advertises career opportunities, and hosts networking events for members.
- Minnesota Government Finance Officers Association (MNGFOA): Network of government finance officers that promotes networking among members, advocates for high professional standards, and provides educational opportunities for its members.
- Society of Financial Service Professionals (SFSP): Provides continuing education opportunities and networking events.
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, Minnesota: https://www.bls.gov/oes/current/oes_mn.htm
9. Projections Central Long Term Occupational Projections: https://projectionscentral.org/projections/longterm