Finance Programs in Alaska
There are three schools in Alaska that offer finance degrees. All three schools offer Associate's degrees, Bachelor's degrees, and Master's degrees. Two of the three schools offer Doctorate PhD programs. The universities in Anchorage and Fairbanks belong to the University of Alaska system; Alaska Pacific University is a private school.
The University of Anchorage and University of Fairbanks are similar in cost. Both cost around $6,000 per year for resident students and $18,000 per year for non-resident students. This jumps to $13,000 and $26,000 for students that live on campus. These are more affordable options compared to Alaska Pacific University, which costs $29,000 per year for students who do not live on campus and $43,000 per year for students who do live on campus.
The University of Fairbanks offers finance as a specialization in their business administration degree. In addition to taking general education courses that cover humanities, math, and science, students must take general business courses. Students must then choose four of five finance courses to get their concentration in finance: Investment Analysis, Real Estate and Alternative Investments, Student Investment Fund, Portfolio Management, and International Finance.
The University of Fairbanks also offers finance as a concentration within their Applied Associate's of Science degree. Students then take classes in Income Tax, QuickBooks, Financial Management, Principles of Banking, and more.
Alaska Pacific University follows a similar structure, with their finance program included as part of their business degree.
University of Anchorage offers a full Bachelor's program in Finance. Students may choose if they want to specialize in Investment or Real Estate and Property Management. Within the finance department, students must take Corporate Finance, Principles of Marketing, Investing Management, and Statistics for Business.
Depending on your degree level and concentration, you may or may not need to take a licensing exam for your prospective career. Those with Associate's degrees in finance typically do not need to take any licensing exams, as they usually work in entry-level finance jobs.
Those who work as Investment Adviser Representatives need to acquire a license. They can do this by taking the Series 65 examination or the Series 7 and 66 examinations. They must then register with Alaska's Division of Banking and Securities. Licensing goes through the Financial Industry Regulatory Authority's Investment Advisor Registration Depository system.
To become a stockbroker in Alaska, you must earn your stockbroker license. You will have to take two examinations: the Series 63 or 66 in addition to Series 6 or 7. After passing the exams, you must register with Alaska's Division of Banking and Securities. Continuing education requirements include a training program two years after initial licensure. It must then be repeated every three years.
Graduates who sell life insurance and fixed annuities must be registered with the Alaska Division of Insurance. A Pearson VUE exam is administered to all applicants. No pre-licensing education is required, but you must have 24 hours of continuing education every two years.
Those who have Bachelor's degrees in finance or higher have the best job outlook in Alaska. The average income for financial analysts is considerably higher than the national average, at $42.97 per hour or $98,730 per year. Other financial jobs, including insurance underwriters, personal financial advisors, financial examiners, and loan officers range in average income from $50,900 to $84,400.
Part of the high pay for financial analysts and planners is due to the financial makeup of Alaska. Alaska has consistently been in the top ten states in terms of average personal income, so there is lots of money that needs to be invested. This is particularly true in metropolitan areas like Juneau and Anchorage.
Major finance employers in Alaska include Wells Fargo, Westlake Financial, Northrim Bank, Edward Jones, and Goldman Sachs.