Benefits of a Finance Degree: Why Major in Finance?

If you are wondering, “Why major in Finance?” you are at the right place. Finance is an interesting and extensive field. If, when thinking about working with 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 out how you can benefit from a degree in Finance and what you need to advance in the field.

Benefits of a Finance Degree

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 finance advantages to look forward to.

1. In-demand skills

A finance program helps students develop finance 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.

2. 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.

3. High salaries

Why major in Finance? A lucrative job. Having a high salary is very common if you work in the finance field, even for some entry-level finance 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 $60,830.

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.

4. 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.

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.

The Bottom Line

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.

If you see yourself in the finance industry and think you have what it takes to make it in it, you can enroll in our Bachelor of Arts in Economics and Finance program, and start from there!

Frequently Asked Questions

Why major in finance?

Choosing a major in finance can lead to a wide range of career opportunities in various industries. It equips you with the knowledge of financial management, investment strategies, and risk assessment, which are crucial skills in today’s business world. Additionally, finance majors typically earn higher salaries and have a promising job outlook.

Is a finance degree only for those who excel in mathematics?

While mathematics is a finance component, advanced math skills aren’t a strict requirement. Anyone with a basic background in working with numbers and a willingness to learn can succeed in a finance degree program.

What soft skills can I develop in a finance degree program?

In addition to technical skills, a finance program helps you cultivate soft skills like collaboration, adaptability, communication, and critical thinking. These skills are essential for success in the finance industry.

Are there job opportunities in finance for entry-level positions?

Yes, there are entry-level positions in finance with competitive salaries. For example, financial analysts earn an average of $60,850 even at the entry-level, offering a stable income.

What are some of the best job options with a finance degree?

A finance degree opens up various career paths, including roles like Financial Planner, Financial Analyst, Investor Relations Associate, Budget Analyst, Actuary, Credit Analyst, and Commercial Real Estate Agent.

Is a finance degree program extremely challenging?

The difficulty of a finance degree program depends on your strengths and work ethic. While finance involves math, it’s manageable. You can succeed in a finance program with dedication, persistence, and a love for the field.

Can I enter the finance industry without prior experience or knowledge in finance?

Yes, you can enter the finance industry without prior experience. Many universities offer introductory courses and resources to help students build a foundation in finance. Your willingness to learn and work hard is crucial for success.

What makes a career in finance rewarding?

A career in finance offers rewards such as high salaries, job security, and numerous advancement opportunities. It’s also intellectually stimulating and allows you to apply your financial knowledge across various industries, making it both financially and personally fulfilling.