What Careers Can You Pursue with a Finance Degree?
The financial business is divided into three categories: public, corporate, and personal. A bachelor’s degree in finance is the initial step toward realizing your financial professional goals. As you earn more education and on-the-job experience, your career prospects expand.
Types of Finance Degrees
There are numerous levels of degrees available in finance, based on your unique interests. A bachelor’s degree in finance will equip you for entry-level financial positions. You’ll be more qualified for management or teaching responsibilities if you have a master’s or doctorate degree.
Bachelor’s Degree in Finance
The most frequent requirement for pursuing a career in finance is a bachelor’s degree in finance. A bachelor’s degree will give you the foundational knowledge you’ll need as a finance professional. It also enables you to continue your studies in order to advance your career in the future.
Master’s Degree in Finance
You can pursue a master’s degree in finance after finishing a bachelor’s degree in finance. The master’s degree takes two years to complete and focuses on specific areas of finance. It will better equip you for certain finance positions such as trading, investments, and risk management.
Doctorate Degree in Finance
A doctorate in finance prepares you to work as a financial researcher and/or lecturer. After earning your bachelor’s and master’s degrees, you’ll need another four to five years to get your doctorate. The majority of finance doctoral graduates will earn a salary of more than $180,000 per year.
Careers in Finance
Finance occupations are popular because they can provide you with a high-paying job soon after you finish your degree. Working in finance offers a diverse range of opportunities, with a wide range of specialties to select from. There is a finance career for you, depending on your degree of education and unique interests.
Commercial banking offers a wide range of financial services, including savings accounts, checking accounts, and a variety of lending choices. Commercial banking has a lot of possibility for advancement, as many people start as bank tellers and work their way up to branch managers. A commercial banking employee’s average compensation is $92,983.
Investment banking is a high-intensity profession that entails selling and trading corporate securities as well as offering analytical advice to businesses and individuals. An investment banker’s annual pay in the United States is $96,543, more than double that of the ordinary British wage earner.
Financial planners collaborate with clients to develop strategies that assure a person’s current and future financial well-being. They talk about how to invest and save in order to achieve a client’s goal. Financial planners should earn the Certified Financial Planner (CFP) credential if they work for a local or national firm.
To assist their clients with their financial objectives, insurance agents can operate as an insurance sales representative, a customer service specialist, or calculate risks and possibilities of financial trends.
A public accountant maintains financial transactions, audits records, and prepares income tax returns for both individual and corporate clients. Depending on their customers, public accountants may work in small or large firms. A public accountant’s average income is $63,907.
Hedge Fund Manager
Hedge fund managers earn an average of $70,000 a year. Traders and analysts in the financial sector might earn up to $100,000 per year. There are over 1,000 job openings in the industry.
A career in venture capital focuses on expanding funding alternatives for small and startup businesses. A venture capitalist’s annual compensation averages $92,406 dollars. You’ll decide whether your company will invest in these companies in the hopes of their stock becoming publicly traded on the stock market.
Real Estate Agent
Financial real estate professionals work with customers to devise the most effective approach for financing the purchase of a family home, a commercial property, or a retail center. Mortgage brokers, mortgage firms, and life insurance specialists are all possible career pathways in financial real estate. One of the fastest growing businesses in the United States is financial real estate.
Chief Financial Officer
A firm’s profits and deficits are tracked by a chief financial officer (CFO), who then develops a strategy to keep the company financially successful. CFOs in the United States earn an average of $128,468 per year.
Salaries for Finance Jobs
The typical pay for a finance career in the ranges from $92,983 to $128,468 per year. Your compensation will vary depending on the role you pick within the finance profession.
Skills for Finance Majors
Finance courses will give you a strong foundation in financial analysis, technology, and interpersonal skills, all of which are necessary for employment success. Understanding the various sorts of financial settings is also important in deciding where you want to concentrate your financial career.
Finance Degree and Career FAQs
What is the difference between accounting and finance?
The precise feature of the financial scope of accounting and finance activity differs. Accounting is concerned with the more detailed financial transactions that take place on a daily basis. A finance professional devises sound investment plans to ensure that their assets rise in tandem with the market.
Can you get a CPA with a finance degree?
You can sit for the CPA exam if you have a finance degree and a CPA. You will be eligible to take the exam if you have a bachelor’s degree in finance. A first-class degree in accounting or another business-related subject is required.
How long does it take to get a degree in finance?
According to the University of South Carolina, a bachelor’s degree in finance takes four years to complete because it is an undergraduate degree.
Is finance a BA or BS?
Your GMercyU Path to a Degree in Finance
The bachelor of science in finance business degree from GermcyU will help you get specialized finance knowledge while also improving your communication and leadership skills. The International Accreditation Council for Business Education has accredited GMercyU’s BS in finance program (IACBE)
4+1 MBA Option
GermcyU provides a unique 4+1 MBA program that allows you to get a bachelor’s degree in finance as well as a master’s degree in business administration in just five years. GMercyu offers a 4plus1 option to students with a 3.0 GPA or better.
Is finance a good degree?
Yes, many undergraduate students find finance to be a good major. Some of the most frequent jobs in the industry are financial advisor, budget analyst, and investor relations associate. This could be the college major for you if you want to work as a specialized financial advisor or analyst in the corporate world.
How much does a finance major make out of college?
According to the website Payscale, the typical recipient of a bachelor’s degree in finance earns $63,844 per year. When all bachelor’s degree recipients are combined, the median salary (half earn less, half earn more) is $61,900.
What is the highest paying job with a finance degree?
Finance positions with the highest compensation
- Banker specializing in investments. The average annual wage in the United States is $61,929 dollars.
- Auditor of information technology. The average annual wage in the United States is $63,412.
- Analyst in charge of compliance. The average annual wage in the United States is $64,443.
- Advisor on financial matters.
- Advisor on insurance.
- Analyst on financial matters.
- Accountant in charge.
- Manager of a hedge fund.
Is finance a good career?
Breaking into the finance industry can be a difficult task. After all, it’s a well-known high-paying profession, with top executives earning six or seven figures in salaries and incentives. In comparison to other fields, even individuals on the bottom rung can expect to start at a good pay.
Is finance a lot of math?
While all business students are expected to take some math classes, finance is one of the most quantitative areas. You’ll need a strong mathematical foundation to grasp critical skills like analyzing and evaluating investment performance and financial planning for savings objectives.
Are finance degrees hard?
However, most financial degrees are not difficult to obtain. It is a combination of finance, economics, and accounting. However, other schools place a greater emphasis on economics, making a finance degree more difficult to obtain. However, other schools place a greater emphasis on economics, making a finance degree more difficult to obtain.
What is a good salary for a 25 year old?
The Average Salary is between $25 and $34 per hour. The median pay for Americans aged 25 to 34 is $918 per week, or $47,736 per year. That’s a significant increase over the median wage for 20- to 24-year-olds.
What pays more finance or accounting?
It’s tough to say which degree will pay better than the other. Without specifics, the data can be misleading because there are so many contributing elements that can effect salary. When comparing the earnings of accounting and finance majors, it appears that finance majors earn more on average.
Is finance a useless major?
No, the degree isn’t worthless, but it also won’t help you much on the job. It’s more of a bare minimum for being considered for an interview.
Can you get rich with a finance degree?
Achieving a certification such as the Chartered Financial Analyst (CFA) from the CFA Institute can also help a finance professional advance in their career. Earning a finance degree can help you get a job with a high earning potential, whether your definition of “rich” is $80,000 per year or $8 million.
What do millionaires major in?
Engineering is the first step. According to Spear’s and WealthInsight, engineering produces more millionaires than any other degree subject, despite the fact that it’s not one of the most expected entrance locations on our list.
Which field is best in finance?
Finance Careers to Consider
- Accounting for the public good. Accounting is a broad subject of study and practice that encompasses a wide range of financial services.
- Corporate Finance is a term that is used to describe the financial
- Banking on investments.
- Portfolio management is a term that refers to the process of
- Risk management is a term that refers to the process of
- Budgeting is an important aspect of financial planning.
- Commercial banking is the practice of lending money to businesses.
- Internal Control and Compliance
Are finance jobs stressful?
Finance jobs might pay well, but they also come with a lot of stress. A number of recent studies have looked into the high levels of stress associated with certain occupations. Individuals numbers may even rise for those in finance jobs.
Does finance or tech pay more?
Wage Comparisons in Finance and Technology Starting salaries in the two fields are nearly identical. Given that IT firms frequently offer stock-based compensation bonuses, it may actually edge out beginning position salary on Wall Street.
Is finance a boring job?
Finance occupations are just like every other corporate job in terms of being monotonous and miserable. In reality, it’s arguably better than the startup world: more job security, more career benefits, a more meritocratic environment, and significantly more upside (a typical startup engineer’s post-IPO pay is a poor Wall Street bonus).