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Finance Schools in Michigan

Graduate students in Michigan have nine options for earning a graduate degree in finance. Students can opt for either a Master of Science in Finance, from such universities as the University of Michigan, or a Master of Business Administration with a concentration in finance from Michigan State University. Online universities, including American Intercontinental University, provide a flexible option for earning a master’s degree in finance. Online graduate finance programs generally allow students to complete all degree requirements online and are becoming more common at well-known public universities.

Quick Facts

  • There are 29 colleges and universities with finance degree programs in Michigan.
  • 9 schools offer a master’s or advanced degree in finance.
  • Highest graduate rate*: Michigan State University, 79%.1
  • Highest transfer-out rate*: Marygrove College, 51%. 1
  • Highest net price per year*: University of Detroit Mercy, $22,235. 1
  • Lowest net price per year*: University of Michigan Dearborn, $8,940. 1
  • Annual undergraduate tuition range for finance programs in Michigan: $10,320 – $34,530.2
  • 2 schools in the Businessweek’s Top Business Undergraduate Programs in 2013: University of Michigan-Ann Arbor (8) and Michigan State University (43).
  • 2 schools in the US News Best Business Graduate Schools in 2013 (top 100): University of Michigan-Ann Arbor (14) and Michigan State University (43).

*For 4-year colleges and universities that offer a finance degree program.

Master’s in Finance Degree Programs in Michigan

Central Michigan University

Central Michigan University offers a Master of Business Administration – Finance degree that equips students to assume positions of leadership as managers in finance. Central Michigan University has offered its MBA program for over 40 years and has developed a strong reputation for academic excellence and graduate success. Evening and Saturday classes are available at the Mount Pleasant and Midland campuses. Central Michigan University’s faculty are frequently published in respected journals, while the faculty and its programs often receive awards and accolades from a variety of institutions.

Michigan State University

Michigan State University offers a Master of Science in Finance through the Broad College of Business. This highly competitive program covers all areas of advanced finance and has an outstanding international reputation. The coursework is highly flexible both in scheduling and in electives, which allows individuals enrolled in the program to pursue studies tailored to desirable careers in finance. Available specializations include Corporate Finance, Financial Markets & Institutions, and Pre-Law. Michigan State University is highly ranked by US News & World Report and the Journal of Product Innovations Management, among others.

University of Michigan

University of Michigan-Dearborn’s College of Business awards a Master of Science in Finance that allows students to specialize deeply in the principles of finance in preparation for working in various industries. The coursework is scheduled to allow students to continue working full time while pursuing the degree. The faculty at the university are frequently published in highly ranked journals, and the university’s Center for Innovation Research, also known as iLabs, provides research opportunities for students and faculty.

Michigan Career Opportunities for Graduates

Michigan has a relatively low state income tax rate, which many finance professionals and businesses find attractive. Finance graduates can seek employment with Michigan’s traditional industries in manufacturing as well as with companies and agencies focusing solely on financial activities. The Michigan Office of Financial and Insurance Regulation, which is changing its name to the Michigan Department of Insurance and Financial Services, is tasked with regulating companies’ financial activities within the state. The department employs over 350 individuals who perform the tasks necessary to ensure compliance with state and federal regulations. Those interested in a career with this or other agencies may apply through the Michigan Civil Service Commission. Redico, a national real estate investment, asset management, and construction firm, is based in Southfield, Michigan. Redico takes measures to ensure its good corporate citizenship by supporting the communities in which it works through philanthropy. Redico’s work culture is based on teamwork and a commitment to the success of the company and the individuals it employs; as a measure of its success, the company has been repeatedly named one of the Best and Brightest to Work For in Metropolitan Detroit. Interested applicants are invited to submit a resume.

Michigan Financial Analyst and Manager Salary and Job Outlook

Although the job market for financial analyst and financial manager positions is competitive, the US Bureau of Labor Statistics expects that job growth in this field will lead to increased opportunities between 2010 and 2020.5 In Michigan, this job market allows these professionals to earn competitive salaries. Financial analysts in Michigan earn an average annual salary of $73,090, while financial managers earn an average annual salary of $105,720.6 Employment opportunities for financial analysts and managers are found throughout the state, though businesses concentrated in the greater Detroit metro area employ many financial professionals.7 The mix of industries and economic opportunities point to a strong career outlook for finance graduates.

Michigan Finance Salary and Jobs

OccupationNumber EmployedAverage Salary
Financial Analysts6,000$71,830
Financial Examiners480$67,570
Financial Managers12,020$104,910
Loan Officers8,500$50,190
Personal Financial Advisors4,340$78,120

Data from the Bureau of Labor Statistics as of May 2012.

References:
1. National Center for Education Statistics: https://nces.ed.gov/collegenavigator/
2. Niche College Search: https://www.niche.com/colleges/search/best-colleges-for-accounting/?type=private&type=public
3. Bloomberg Businessweek: https://www.bloomberg.com/features/2016-best-undergrad-business-schools/
4. US News and World Report: https://www.usnews.com/best-graduate-schools/top-business-schools/mba-rankings
5. Bureau of Labor Statistics: https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-6
6. Bureau of Labor Statistics: https://www.bls.gov/oes/current/oes_mi.htm
7. Bureau of Labor Statistics: https://www.bls.gov/oes/current/oes132051.htm