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Finance Schools in Maine

This page provides information about types of finance master’s offered in Maine. Those interested in a master’s in finance can find many different program options in the state. Some universities offer general Master of Business Administration (MBA) degrees, while others offer optional degree concentrations or graduate certificates. Students can choose between accelerated full-time programs, part-time or evening courses designed for working professionals, and some fully online degrees. Graduates may find opportunities to work in the state’s finance sector after finishing their studies. The information below offers details on different types of finance degrees, program options, and potential career opportunities in Maine.

Finance Program Stats

  • There are 4 four-year not-for-profit colleges and universities with finance degree programs in Maine.1
  • No schools offer a master’s or advanced degree in finance.1

Institution-Wide Facts

  • Highest graduation rate*: University of Maine 59%.1
  • Highest transfer-out rate*: University of Southern Maine 36%.1
  • Highest net price per year*: Thomas College $20,558.1
  • Lowest net price per year*: University of Southern Maine $15,019.1
  • Annual undergraduate tuition range for finance programs in Maine*: $7,796-$25,150.1
  • No schools in the Businessweek’s Top Business Undergraduate Programs in 2016.2
  • No schools in the US News Best Business Graduate Schools in 2017 (top 100).3

*For 4-year not-for-profit colleges and universities that offer a finance degree program.

Schools in Maine with Master’s in Finance Degrees

Traditional Master’s in Finance Programs

University of Maine

The Business School at the University of Maine offers a Master of Business Administration (MBA) degree. This program focuses on creative and strategic thinking and the tools for leading, managing, and communicating in organizations. The core curriculum is made up of seven required courses such as Law, Business, and Society; Financial Management; and Creating & Capturing Value in the Digital Economy. Students can then choose their electives, which may include experiential learning through an internship (for students with minimal work experience) or an International Field Study course to study business practices in a different part of the world. The University of Maine also offers an online program option, although some parts of the online program are synchronous and require real-time classroom participation. The MBA program requires prior knowledge of accounting, economics, statistics, finance, marketing, and management, and most non-business undergrads need to take two additional online courses.

Thomas College

Students at Thomas College can complete a Master of Business Administration (MBA) degree in an accelerated one-year program or in a part-time 24 month format. This program is open to students from various academic and experiential backgrounds, although students without prior business knowledge may need to complete prerequisite coursework in statistics, economics, and accounting. The curriculum emphasizes the connection between foundational theory and real-world applications, and students can take advantage of technology skills workshops, regular networking events and guest lectures, and professional development sessions. For students with specific career interests, concentrations are available in human resources, healthcare management, project management, and accounting. Part-time students can complete the program in a hybrid format of online and on-campus evening courses.

University of Southern Maine

The School of Business at University of Southern Maine offers a Master of Business Administration degree ideal for individuals looking to advance their careers and grow their companies. The program is designed for working professionals who are interested in studying part-time, but students can also complete the program in an accelerated, full-time format. Courses are available in the evening and throughout the summer, and the foundational sequence covers subjects like accounting, finance, information systems, and marketing. Depending on a student’s academic background, some additional prerequisite courses may be required. In addition to business knowledge, students also learn the analytical tools of management and interpersonal skills needed to lead organizations. USM partners with business community leaders and non-profit organizations to offer students internship, research, and networking opportunities.

Online Master’s in Finance Programs

Saint Joseph’s College

At Saint Joseph’s College, students can earn a Master of Business Administration (MBA) degree with an emphasis in leadership completely online. This program is designed for working professionals with at least two years of work experience who are interested in advancing to management and leadership positions in organizations. The core curriculum focuses on the fundamentals of business as well as organizational dynamics and interpersonal skills. Core courses include classes such as Systems Thinking, Knowledge-Based Decision Making, and Corporate Strategic Leadership. Through case studies, readings, and real-life examples, these courses focus on the critical thinking, problem-solving, and strategic planning necessary to effectively lead organizations. This program can be completed in 18 months. Saint Joseph’s College also offers a traditional MBA degree designed for recent graduates and young professionals interested in learning the essentials of business.

Husson University

Husson University offers a Master of Business Administration (MBA) degree. This program focuses on the traditional business knowledge in accounting, finance, operations, and marketing, but also emphasizes interpersonal skills and effective leadership strategies. There is no undergraduate prerequisite coursework, and students have the option to take evening, weekend, or online classes. Part-time students can complete the program in two years, and courses are available at the main Husson campus in Bangor as well as the Southern Maine and Northern Maine campuses. In core classes such as Global Strategic Management and Management Communications, students learn a foundation for analysis, decision making, and leadership in organizations. Students can then choose optional concentrations in biotechnology and innovation, healthcare management, organizational management, and corporate/general studies.

Maine Career Opportunities for Graduates

Students with master’s in finance degrees may find opportunities to work in Maine after graduation. Local and regional banks and financial services companies, such as TD Bank, First Bancorp, Camden National Corporation, and Northeast Bancorp are headquartered in the state and offer many possible positions in finance. Maine also boasts a large tourist economy, so graduates interested in starting ventures or enterprises may have an opportunity in the state. Biotechnology companies such as IDEXX Laboratories and ImmuCell Corporation are based in Maine, as well as large companies like Fairchild Semiconductor and WEX Inc. The state’s major cities include Portland, Lewiston, Bangor, and Auburn, and many local and statewide healthcare and insurance companies are based in these denser cities. These companies and many more may have financial positions for graduates from Maine’s finance schools.

Maine Finance Job Information

OccupationNumber EmployedAverage Salary
Business and Financial Operations Occupations23,860$62,750
Financial Analysts420$75,510
Financial Examiners160$64,690
Financial Managers2,710$109,080
Financial Specialists, All Other360$66,140
Loan Officers1,260$63,810
Personal Financial Advisors410$142,200

Data from the Bureau of Labor Statistics as of 2018.4

Maine Salary and Job Outlook

Graduates with master’s in finance degrees in Maine may find opportunities to work in the state’s finance industry after finishing their studies. Maine is the third-highest paying state in the country for personal financial advisors, who earn an average of $142,200 annually in the state (compared to $123,100 nationally).5,4 These positions are projected to grow by an impressive 18.6% through 2024.6 The Southwest Maine non-metropolitan area, in particular, has some of the highest levels of employment in the country for financial analysts and financial examiners.7,8 These positions earn an average salary in Maine of $75,510 and $64,690, respectively.4 Financial managers in the state earn an average of $109,080 per year, less than the average annual salary of $139,720, but financial manager roles are projected to grow by 70 positions a year through 2024.4,9,6 Students with advanced degrees in finance may have an advantage finding positions within Maine’s growing finance industry.

Additional Resources

  • Maine government Finance Officers’ Association (Maine GFOA) – Organization of professionals working in financial management at all levels of government in Maine. Maine’s GFOA chapter organizes educational opportunities, encourages effective and ethical industry methods, and supports recruitment and training of public officials.
  • Maine Bankers Association (MBA) – Association of Maine banks that exchange information and industry knowledge. MBA organizes policy and regulatory advocacy and provides educational training opportunities to members.
  • Chartered Financial Analyst Society Maine (CFA Society Maine) – State chapter of professionals working in the investment industry. The Maine chapter of the CFA Society promotes high industry standards through professional development and networking events.

References:
1. National Center for Education Statistics (NCES): https://nces.ed.gov/collegenavigator/
2. Bloomberg, Best Undergraduate Business Schools 2016: https://www.bloomberg.com/features/2016-best-undergrad-business-schools/
3. US News & World Report, Best Business Schools in 2017: https://www.usnews.com/best-graduate-schools/top-business-schools/mba-rankings
4. Bureau of Labor Statistics, Occupational Employment Statistics, May 2016 State Occupational Employment and Wage Estimates, Maine: https://www.bls.gov/oes/current/oes_me.htm
5. Bureau of Labor Statistics, Occupational Employment and Wages, May 2016, Personal Financial Advisors: https://www.bls.gov/oes/current/oes132052.htm
6. Projections Central, Long Term Occupational Projections: http://www.projectionscentral.com/Projections/LongTerm
7. Bureau of Labor Statistics, Occupational Employment and Wages, May 2016, Financial Analysts: https://www.bls.gov/oes/current/oes132051.htm
8. Bureau of Labor Statistics, Occupational Employment and Wages, May 2016, Financial Examiners: https://www.bls.gov/oes/current/oes132061.htm
9. Bureau of Labor Statistics, Occupational Employment and Wages, May 2016, Financial Managers: https://www.bls.gov/oes/current/oes113031.htm