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Entrepreneur Hough gives another $1-million to UF

By HELEN HUNTLEY
Published February 8, 2005

Most graduate programs in business want students to have at least a few years of on-the-job experience before enrolling, but that wasn't Bill Hough's idea of the way things ought to be done.

"I had good luck getting young people to come to William R. Hough & Co. directly out of college and I didn't want them to have to quit to go back and get a master's degree and interrupt a career," he said.

As a millionaire entrepreneur, Hough had the means to do something about it. The University of Florida announced Tuesday that Hough has given another $1-million to the Hough Program in Finance, launched in 2001 as part of the Warrington College of Business. The gift brings Hough's contributions to the program to $2.5-million. It is eligible for matching funds of $1-million from the state and $250,000 from a fund at the university.

Just as Hough had in mind, students can enter the program with a newly minted bachelor's degree in business or accounting and earn a Master of Science in Finance in one year. They learn about public finance, investment banking, professional money management and other finance topics but skip traditional MBA courses in management and marketing.

"It's an efficient way to get educated in finance," Hough said.

Hough, 78, is now managing money for clients at RBC Dain Rauscher, the brokerage that bought his St. Petersburg municipal bond company last year. The sale of William R. Hough & Co. and of Republic Bank, which Hough controlled, are providing fuel for Hough's philanthropy, which he declined to discuss other than to say "I'm doing some things."

Graduates of the Hough program are working as analysts, bankers, consultants and managers for a variety of companies.

Last spring, 15 of the 18 graduates had jobs within three months, said David Brown, the associate professor of finance who directs the program. This year's class has 33 students, nearly half of whom have accepted job offers even though graduation is still a few months away.

However, work experience isn't proving to be irrelevant. Starting salaries for graduates who take jobs in the financial field have been $70,000 to $160,000 for those with experience - and $40,000 to $60,000 for those without it.

--Helen Huntley can be reached at huntley@sptimes.com or 727 893-8230.

[Last modified February 8, 2005, 17:29:01]