When most people start thinking about what they want to earn their degree in, the usual things come to mind. They want career stability. They want something that will give them good earning potential, even from the start. They want growth. These criteria call for a number of good choices, which include accounting, economics, real estate, and many more. But there are probably few with as much promise as with finance.
Even with the current sluggish economy, those with finance degrees fare far better than most in other financial related jobs. Those with finance degrees have a variety of career options, high salaries, and faster than average job growth.
Those with degrees in finance takes courses in such subjects as principles of finance, economics, banking, investments, managerial accounting, and more. Some programs offer the potential of having a subspecialty such as financial services, risk management, personal financial planning and much more.
As a result of these educational options, those with degrees in finance will be able to choose from a variety of entry-level positions in business and government. Your interests and experience might also lead you to choose a career in financial analysis, accounting, economics, investment banking, real estate, and entrepreneurship. This often leads to work as a financial analyst or sales agent working with stocks, bonds, commodities, mutual funds, and other investment types. In order to perform this type of work, a finance professional must understand tax laws, global market trends, and be able to prepare financial reports for their employers or clients.
A finance degree will allow you to earn a lucrative salary, even in an entry-level position. As of 2014, the BLS reported that financial analysts often earn as much as $92,250 a year. The same report shows that those who work as budget analysts earn an average of $73,940 a year, and finance sales agents earn an average annual income of $103,260.
The BLS reports that job growth potential for those with finance degrees are expected to grow at least as fast as average through 2024. Certain specialized career specialties such as personal finance professionals are expected to experience job growth of at least 30 percent during the same period.
There’s an old joke that if you want to help someone else get rich, major in accounting. On the other hand, if you want to make yourself rich, major in finance. Fortunately, if the statistics are correct, you might not end up rich, even with a degree in finance, but you won’t end up broke either.