Finance is a field lush with great earning potential and rewarding career options in a wide range of industries. The field has seen large growth despite recent economic downturn, so it’s a little more guaranteed than other fields. There are definitely more than five reasons why studying finance is a smart choice for potential students, but we’ve compiled a list of the most pertinent reasons to help you decide which program of study is right for you! The reasons below touch on areas that are going to emphasize perks for the career-driven individual who is looking to implement exciting changes to their life in beneficial ways.
1. Narrow Focus
If you’re interested in a business career then you have an array of college degree options such as business, accounting, or management. One great reason to become a finance major is because of it’s more narrow focus, but it still allows you to explore a field that is dense with job opportunities.
A finance degree allows you to work with the decision makers of outside organizations. Examples of these organizations include: banks, government agencies, stockholders, suppliers, businesses, and more. Being able to distinguish yourself with a finance degree will help you when searching for jobs, especially from a large number of business majors. As a finance degree is harder to attain, it’s guaranteed to set you apart.
2. Personality Driven
Anyone can get a business degree or do accounting, but in order to be in a finance career you must be outgoing and inquisitive. Though you’ll need to be good at mathematics, you also must be good and talking with people and making friendly conversation on a variety of subjects. Therefore education, intelligence, and personality are all taken into account for finance jobs. Additionally, you must be diplomatic and consider your organization’s or client’s goals, resources, and options when discussing their options for financial growth and well-being.
3. Growing Job Prospects
According to The Bureau of Labor Statistics, due to a “growing range of financial products and the need for in-depth knowledge of geographic regions” finance positions are growing faster than the average for employment in the United States.
For example, careers in financial analysis are to grow by 23 percent, financial management by 14 percent, and financial advising by 32 percent. The opportunities will continue to present themselves as the economy continues to recover. As a with any major, it’s important to keep a focus on what it’s like in the job market upon graduation and it’s very fortunate that things look promising for those in this major.
4. Wide Variety of Job Opportunities
As you can see above, finance careers are growing. This also means that the variety of careers opportunities are growing as well. With a finance degree you can work in:
- Corporate management
- International financial management
- Investment services
- Financial planning services
- Personal financial planning for individuals and private organizations
- Brokerage firms
- Insurance companies
- Commercial and investment banks
- Credit unions and private banks
As well as many other financial intermediary companies all employ finance graduates.
5. Financially Rewarding Careers
In addition to having a wide range of job opportunities, the jobs that present themselves to you will also be very rewarding from a salary standpoint. Salary information varies from job title and experience, but the following are a few baseline ideas of the average salary you can earn with a finance degree:
- Personal Financial Advisors: $64,750
- Financial Managers: $103,910
- Financial Analysts: $74,350
- Financial Examiners: $74,940
The job market has underwent some large changes in the past decade, partly due to different technological innovations and partly because of the economy. Finance majors are placed into a very fortunate position that keeps options available to continue to grow unhindered from many circumstances that have impacted others.