Horry County, located in the heart of South Carolina’s economic growth, has emerged as a regional hub for small business development, commercial and investment real estate, and has an increasing need for individuals with advanced financial skills and knowledge. However, despite its economic vitality, the region lacks a specialized graduate program in finance that would address the increasing demand for skilled financial professionals. Local businesses, including those in banking, investment management, insurance and financial planning, face growing challenges in managing complex financial strategies, investments, and risk management. A M.S. Finance program at Coastal Carolina University would provide a dedicated pipeline of well-trained professionals capable of filling this gap, contributing directly to the county's economic development, and meeting the needs of both established businesses and startups across the state of South Carolina.
South Carolina, and especially Horry County, is experiencing growth in both its population and the diversity of its industries. The region’s expanding tourism sector, coupled with commercial real estate development and an influx of retirees needing financial services, creates a high demand for finance professionals with expertise in corporate finance, investments, and financial markets. Furthermore, as the economy diversifies into technology, healthcare, and manufacturing, the need for advanced financial expertise is expected to grow. A M.S. in Finance program at Coastal Carolina University would provide students with the advanced knowledge and practical skills needed to navigate this dynamic and complex business environment, while preparing them to meet the needs of both private and public sector employers.1
A recent survey of Wall College of Business students indicates that 68% are interested in pursuing a Master’s in Finance. This strong level of interest reflects the substantial demand for finance education within the region. As of Fall 2024, the College of Business enrolls over 600 finance majors, a figure that exceeds the finance major counts at many nationally ranked universities. Currently, students who feel an MBA does not align with their career goals often seek discipline-specific master’s programs at other institutions, representing a missed opportunity for the university. Establishing a Master’s in Finance would fill this gap and retain more of these students by providing a specialized graduate pathway in finance.
Finally, offering a M.S. Finance program in Horry County would not only benefit the local economy but also attract students from across the state, region, country, and internationally. The proposed program would seek to qualify for the Department of Homeland Security STEM program designation. This would provide increased incentives and opportunities to local, state, and international students. To sustain and enhance South Carolina’s economic development, it is essential to expand access to STEM education and training opportunities, ensuring a steady pipeline of talent that can meet the challenges of tomorrow's industries.
The program would also help retain South Carolina’s talented young professionals, reducing the brain drain often seen when graduates move to larger cities for advanced education. The proximity to Myrtle Beach and its vibrant tourism-driven economy would make the program particularly attractive to students interested in combining financial expertise with industry-specific knowledge. By providing high-quality graduate education locally, the program would strengthen the regional workforce and enhance South Carolina’s standing as an attractive destination for talent and investment.
Enrollment in this program would be generated from current finance students at Coastal Carolina University and students across the state, country, and internationally. As shown below, the undergraduate finance program at Coastal Carolina has been one of the fastest-growing programs at the institution. This base of students, coupled with the likely interest across the region and internationally, will likely create a financially stable program for the foreseeable future.
