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Finance Schools in Minnesota

Minnesota’s colleges and universities feature over two dozen undergraduate finance programs in addition to two graduate finance programs. The University of Minnesota confers the Master of Science in Finance while Minnesota State University awards the Master of Science in Accounting and Finance to students who successfully complete the graduate program. Students, who must have flexibility, may also want to consider an online finance program. Several universities offer online programs leading to a graduate degree in finance.

Quick Facts:

  • There are 25 colleges and universities with finance degree programs in Minnesota.
  • 2 schools offer a master’s or advanced degree in finance.
  • Highest graduate rate*: University of St. Thomas, 74%.1
  • Highest transfer-out rate*: Metropolitan State University, 44%.1
  • Highest net price per year*: University of St. Thomas, $31,027.1
  • Lowest net price per year*: Minnesota State University – Mankato, $12,526.1
  • Annual undergraduate tuition range for finance programs in Minnesota: $6,898 – $33,787. 2
  • 2 schools in the Businessweek’s Top Business Undergraduate Programs in 2013: University of Minnesota (39) and University of St. Thomas (80).
  • 1 school in the US News Best Business Graduate Schools in 2013 (top 100): University of Minnesota-Twin Cities (23).

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

Master’s in Finance Degree Programs in Minnesota

St. Cloud State University
St. Cloud State University offers a Master of Business Administration through its Herberger Business School that allows students to focus particularly on management in the realm of finance through an economics concentration. Students learn how to make ethical decisions that will benefit all stakeholders while furthering their understanding of fundamental business concepts. The program can be completed full- or part-time at the St. Cloud campus through day and evening courses, or part-time in the evenings at the Maple Grove campus. St. Cloud State’s various programs are accredited by prestigious governing bodies and voluntary institutions, which may allow finance students to pursue opportunities for cross-disciplinary study.

University of Minnesota
The University of Minnesota awards a Master of Financial Mathematics degree with an emphasis on functional and quantitative finance in theory and application. This degree program offers many opportunities to students, including career workshops, lectures by renowned individuals, and networking events. The coursework may be taken full- or part-time, though classes are typically held during the evening hours. Courses include Mathematical Background for Finance, Mathematical Theory Applied in Finance, and a Practitioners Course with six modules taught by finance professionals. Students may further build their understanding of finance by taking advantage of the university’s many interdisciplinary programs.

University of St. Thomas
University of St. Thomas’ Opus College of Business offers a Master of Business Administration with specializations in Finance or Business Economics. This program is the only such private program accredited by the Association to Advance Collegiate Schools of Business in Minnesota. The goal of this MBA is to develop business leaders who are comfortable operating in a global environment, and the well-qualified faculty is committed to mentoring students to success in support of this aim. The University of St. Thomas is highly ranked by US News & World Report and is the largest independent college in Minnesota.

Minnesota Career Opportunities for Graduates

Forbes reports that Minnesota is one of the best states for business, and has one of the highest quality of life rankings out of all US states. Finance and insurance is also one of the top industries in this state, leading to many career opportunities for finance graduates. One of the largest offices of McGladrey, one of the top assurance, tax, and consulting firms in the US, is located in Minneapolis. The firm also has offices in Duluth and Rochester. McGladrey works with major companies in many industries, including financial services, banking, and government. McGladrey seeks driven finance graduates for its Minnesota offices on a regular basis. Wells Fargo, which offers banking, investment, and consulting services for individuals and businesses, has a long history in Minnesota, where it maintains one of several museums dedicated to the company’s past. Salaries and benefits at Wells Fargo are competitive, and employees of the firm have global opportunities.

Minnesota Financial Analyst and Manager Salary and Job Outlook

On average, financial analysts in Minnesota earn $76,920 annually, whereas financial managers earn $117,550.5 Salaries reach higher averages in the metro area of Minneapolis-St. Paul, though there are opportunities for financial professionals throughout the state. For financial managers, Minnesota is the only state outside of the New England corridor where the location quotient, a measure to compare the concentration of professionals working in a given profession against the national average, exceeds 1.25 according to the US Bureau of Labor Statistics.6 The Minneapolis-St. Paul area is one of the top ten metro areas for financial managers in terms of total positions.6 Paired with Minnesota’s positive business environment and the strong outlook for financial professionals, these factors are persuading many finance graduates to explore career options in the state.

Minnesota Finance Salary and Jobs

OccupationNumber EmployedAverage Salary
Financial Analysts5,630$74,020
Financial Examiners660$83,170
Financial Managers13,600$117,250
Loan Officers6,900$67,110
Personal Financial Advisors4,350$76,950

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/?degree=4-year&state=MN&major=finance-accounting&sort=best
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/oes/current/oes_mn.htm
6. Bureau of Labor Statistics: https://www.bls.gov/oes/current/oes113031.htm