YPSILANTI – Eastern Michigan University, responding to a strong demand for graduates trained in financial analysis, is creating a new Master of Science in Finance.
The EMU Board of Regents approved the program at its regular meeting on Friday, Feb. 9.
The new program, one of only three such graduate programs in the state, seeks to develop financial professionals who are prepared for a broad range of careers, with a solid foundation in theory and applied financial skills. The program seeks to support the economic development of southeastern Michigan by preparing graduates to perform effectively in in the global business community.
“Graduates of this program will be highly equipped with business problem solving skills and creative thinking to address the challenges of today’s market,” said Anne Balazs, interim dean of the EMU College of Business. “Graduates will also be committed to the ethical and legal standards that govern the practice of financial services.”
The U.S. Bureau of Labor Statistics estimates a 12 percent increase in financial analyst jobs between 2014-2024, along with 30 percent growth for occupations related to financial advisory expertise. Average salaries for occupations in related finance disciplines range from about $70,000 to $120,000, according to the bureau.
Demand for finance jobs is increasing due to the increase in regulation and visibility after the subprime mortgage crisis. Additionally, private sector employers require more specialization in areas such as finance, thus creating more demand for MSF degrees.
In addition to strong demand for financial industry jobs, the program's faculty expect its association with the Chartered Financial Analyst (CFA) Level 1 Exam curriculum to increase demand for the MSF program.
The CFA designation is among the most prestigious professional designations in the field of finance; the top employers of CFAs are some of the world's largest financial institutions.
The new program will have a strong focus on data analytics, financial modeling, and statistical analysis. It requires students to complete 30-36 credit hours, consisting of a combination of seminars, lectures, and case studies. The program' s capstone course is designed to prepare students for the CFA Level I Exam.
The Princeton Review has named EMU's College of Business an "outstanding" business school every year since 2005. The education services company featured Eastern in the 2018 edition of its book "The Best Business Schools."
In addition, EMU’s Taxation program ranked 25th in Value Colleges' listings of the 50 Best Value Master's in Taxation Degrees of 2017, and EMU's BBA-Management major/HR concentration ranked first in "Diploma Program with Emphasis on HR" by HR.com, the largest global social networking and resource site for HR professionals.
The College of Business also has the only fully online integrated marketing communications degree program housed in a school accredited by the Association to Advance College Schools of Business (AACSB).
About Eastern Michigan University
Founded in 1849, Eastern is the second oldest university in Michigan. It currently serves 20,000 students pursuing undergraduate, graduate, specialist, doctoral and certificate degrees in the arts, sciences and professions. In all, more than 300 majors, minors and concentrations are delivered through the University's Colleges of Arts and Sciences; Business; Education; Health and Human Services; Technology, and its graduate school. EMU is regularly recognized by national publications for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University's website.