Finance Programs in South Dakota
The state of South Dakota has 11 colleges and universities that offer finance degrees to students. All 11 colleges have an Associate's-level program in finance, and eight have Bachelor's degrees in finance. Master's degrees in finance are available at six South Dakota schools, and PhD programs are available at three South Dakota schools.
Average tuition in South Dakota is $7,737. This low tuition cost is common for states in the Midwest and west areas of the country, and students can take advantage of scholarship and grant opportunities on top of low tuition.
Although all of the finance schools in South Dakota are remarkable, some students prefer a large campus. The three biggest finance schools in South Dakota are the University of South Dakota, Oglala Lakota College, and Dakota State University.
Choosing a degree in South Dakota is easy when you think about what you want to get from your degree and how long you want to be in school. Associate's degrees in finance take about two years to complete. Students graduate with the knowledge necessary to begin a number of entry-level careers in finance. Associate's degrees in finance, such as the one offered at Kilian Community College, include classes in Introductory Accounting, Personal Finance, and Investments.
A Bachelor's degree in finance takes about four years to complete. It encompasses 120 credits—40 in general education credits and about 60 in finance classes. The rest are free electives for students. A degree at this level involves higher-level coursework in finance. Classes include Financial Derivatives, Labor Economics, International Finance, and Public Finance. After earning a Bachelor's degree in finance, students may start a finance career or go on to earn a Master's degree in a related field.
Earning a Master's degree takes most students two years on a part-time basis. It includes research, individual study, and in-depth coursework in finance. Students must have a Bachelor's degree in finance or a related field. If they have a Bachelor's degree in an unrelated field, they may need to take additional coursework to catch up.
There are several finance careers in South Dakota that require additional coursework and licensure. The primary finance careers that require a license are investment advisors, stockbrokers, and financial planners.
To work as an investment advisor in South Dakota, you have to be registered with the Department of Labor and Regulation. Prior to becoming licensed, you must take the Uniform Investment Advisor State Law examination. You can also meet this requirement by taking the Uniform Combined State Law exam and the General Securities Representative exam.
Stockbrokers in South Dakota have to register with the Division of Securities in the Department of Labor and Regulations. Prior to becoming licensed, you have to pass a series of examinations. You can take the Uniform Securities Agent State Law exam or the Uniform Combined State Law exam. You also have to take an exam that is relevant to the products that you are going to sell. Ongoing education must be done two years after licensure and every three years after that.
Financial planners that sell life insurance and fixed annuities are licensed by the Division of Insurance in South Dakota. Unlike many other states, South Dakota does not require pre-licensing coursework. However, you do have to pass a life insurance exam. You must then complete 24 hours of continuing education every two years.
According to the Bureau of Labor Statistics, salaries for financial professionals are slightly lower than national averages. Bachelor's and Master's degree holders can work in some of the fastest growing jobs in finance, including financial analysts, loan officers, and tax preparers. Average salaries for these types of careers range from $36,580 for tax preparers to $69,610 for insurance underwriters. Salaries for Associate's-level careers range from $32,390 to $42,050.
There are many large finance employers in South Dakota. Some of the largest employers are investment firms, including Resolve Capital Management LLC, AXA Advisors, and Schwan Financial Advisors. Other major employers include Wells Fargo, Capital Services, and Westlake Financial.