Benefits of a Finance Degree: Why Major in Finance?
Finance is an interesting and extensive field. If when thinking about working stocks, bonds, financial markets, and other investment vehicles you get excited, then a career in finance is probably the right one for you. Nevertheless, that’s not the only reason why you would want to hold down a job in finance. Read on to find how you can benefit from a degree in Finance and what you need to advance in the field.
A finance degree is a good way to earn yourself a successful job and build a career. By getting such a degree, you can enter the finance world and grow steadily within the industry. However, it’s a “high-stakes” career, given that no one will trust their finances easily to just anybody.
A finance program is one that you can benefit a lot from. Here are a few advantages to look forward to.
In-demand skills
A finance program helps students develop skills that will serve them in their future finance jobs. You will get to learn all about data analysis, capital allocation, investment strategy, and risk management.
The fun doesn’t stop at technical skills, though. By being part of such a program, you will also get to cultivate soft skills like collaboration, adaptability, communication, and many others.
Career growth
Given that the estimated job growth for finance is higher than average according to the Bureau of Labor Statistics (BLS), there is a lot of potential for career advancement in the field.
There is also the possibility of working in a wide variety of jobs. Some workplaces where you can work include financial planning consultancies, the SEC, Wall Street, among many others.
High salaries
Having a high salary is very common if you work in the finance field, even for some entry-level positions. For instance, the average salary of a financial analyst is somewhere around $100,000, according to the Bureau of Labor Statistics (BLS). Even for entry-level jobs, the average is somewhere around $60,000.
Loving your job is always important, but having a stable income is also high up on the list. So, you can rest assured that you will have a well-above-average paycheck to cash with a job in finance.
Job opportunities
A professional with an academic background in finance can apply their knowledge to a broad range of jobs in almost any industry. That being said, you will need a unique set of skills and interests for any finance role you plan to assume. Some of the best jobs you can get with a finance degree include:
Financial Planner
Financial Analyst
Investor Relations Associate
Budget Analyst
Actuary
Credit Analyst
Commercial Real Estate Agent
How Hard Is a Finance Degree Program?
How difficult a finance degree program is, depends on what your strengths are and how much work you have to put in. Finance got its reputation for being a hard major because many people assume it’s all math. While a fraction of this belief is true, and finance does deal with numbers, the math implicated is not something that cannot be learned by anyone with a bit of background in working with numbers.
However, technical skills are not all it takes to make it in finance. You will also need a strong work ethic, persistence, and love for the field. If you possess these qualities, it won’t be a walk in the park, but you will find that it will be over sooner than you imagined, and you will have a whole new set of abilities by the end of it.
So, Is a Career in Finance Right for Me?
If you find that you’re an ambitious person with good analytical skills and willing to put the work in, it definitely is. Even if you’re not 100% there yet, you can still learn many of the said skills during your time at a university.
However, you need to prepare yourself for years of hard work and train your willpower to go through with it. In the end, a finance program will turn out very rewarding. You can expect a stable income and many job opportunities in the industry of your choice.
Having a career in finance can be both fun and beneficial. The benefits of a finance degree are numerous, be that the high salary that comes with it, the academic growth, and a high number of career advancement opportunities.
Article submitted by Bay View University https://bau.edu/program/ba-in-economics-finance/