Assuming they accept the contract they have been offered by Otago cricket, the pair can now call themselves professional cricketers.
They join a new-look Volts squad that also features the return of Neil Broom and the arrival of Aucklanders Anaru Kitchen and Warren Barnes and former Northern Districts opener Brad Wilson.
The other notable change is the return of Craig Smith following some impressive outings last summer.
Finnie (18) made his first-class debut for Otago in March but got his first taste of cricket at the top level during a twenty20 match against Central Districts in November last year.
He grabbed two quick wickets with his off-breaks in that game and has shown promise with the bat during his limited opportunities.
It is that potential that helped convince Otago coach Nathan King to offer the teenager a contract.
''We saw glimpses of what he could do last season in all three formats,'' King said.
''He's an attacking batsman, an attacking fielder and a really useful offspin bowler as well. We see him as having a really bright future and it is great we are able to offer him a contract which will help with his development.''
Rae's inclusion is perhaps more of a surprise. He made his first-class debut in December.
In four games for the province he has taken five wickets at the costly average of 62.80.
Some of his spells were expensive but the 20-year-old was very much a work in progress, King said.
''What we saw from him really early on impressed us. He's tall, he gets good bounce and he bowls at a decent speed. We're excited about what he can offer.''
Smith (30) has struggled with back injuries in the past and he elected to focus on teaching for a period as well.
But he got opportunities last summer and shone.
''He's older and smarter ... and we've been able to put some good strength and conditioning programmes around him. That has certainly helped him bowl and stay injury-free.''
Broom's return and the transfers of Kitchen, Barnes and Wilson were confirmed last week.
It was no great surprise they were offered contracts.
Northern Districts has one newcomer with Gisborne pace bowler Cody Andrews offered a contract.
Veteran seamer Graeme Aldridge has retired, while Anurag Verma (Wellington) and Wilson have transferred. Scott Kuggeleijn, who pleaded not guilty to one charge of rape and one charge of indecent assault in Hamilton District Court earlier this week, has been offered a contract.
Canterbury's list has a familiar feel. Twenty-year-old left-hander Leo Carter is the most notable inclusion.
Auckland has offered promising youngsters Shawn Hicks and Glenn Phillips contracts.
Hicks is an all-rounder, while Phillips brings strong batting credentials and is a wicketkeeper.
New Wellington coach Bruce Edgar has cut former Black Caps seamer Mark Gillespie.
The door is not shut but Edgar felt Gillespie was off the pace last summer.
Jesse Ryder has returned to Central Districts, although the former Black Caps left-hander will be available only for limited-overs cricket.
Players have until July 30 to accept or decline a contract offer. The second round of contracts will be offered on August 10.
Otago cricket
Contracted players
Warren Barnes, Nick Beard, Michael Bracewell, Neil Broom, Derek de Boorder, Jacob Duffy, Ryan Duffy, Josh Finnie, Anaru Kitchen, Michael Rae, Hamish Rutherford, Craig Smith, Sam Wells, Brad Wilson.
