What Jobs can you get with a Finance Degree?
For many students deciding on whether to go in for a course in finance will depend on the answer to the “What jobs can you get with a finance degree?” question commonly asked.
If you one of such students, this post is for you.
You will discover the several job opportunities you can do with a degree in finance and the lucrative careers you can pursue.
You will also have an idea of the salary to expect to earn as a graduate on the various finance job positions.
Please read on:
Why Finance Degree?
One of the subjects that usually interest people, at least the ambitious ones, often revolves around financial growth/management.
Individuals and organizations continually seek new methods/approach to attain higher levels of personal or commercial economic wellbeing, they’re keen to know the best form of investments or business decisions to take for better returns and proper resource management.
The onus rests on finance professionals to provide business management services, proffer financial advice, direct the cash management activities of a firm, and ensure financial goals are achieved.
With the knowledge of the money market, economic policies, investment strategies, and insurance, finance majors find relevance in an array of fields ranging from the investment planning industry to the insurance, real estate, banking, and tax agencies.
Majoring in finance furnishes students with knowledge of money management, budgeting, credit analysis, and the overall ability to take appropriate financial decisions.
Finance graduates possess various invaluable transferable skills, such as budget management skills, number-crunching skills, interpersonal skills, and the ability to carry out economic market research.
These skills, coupled with corresponding finance knowledge, are a contributing factor to the high demand of financial experts.
The U.S Bureau of Labor Statistics projects the growth rate of finance jobs to be 8% with as much as 632,400 new jobs expected through 2014-2024.
It also pegs the annual median salary of all business and finance occupations at $65,710.
A lot of undergraduates are thrilled by the idea of a finance degree thus making it popular among students.
A finance degree in the U.S, according to Match College, is 19th most popular college degree with 39,016 degrees awarded from 2013 to 2014.
To pursue a career in the finance field, you can opt for an Associate’s degree program in finance.
This program exposes students to the principles of insurance, budgeting and analysis of financial statements, as well as knowledge of financial planning.
It prepares them for the duties of proffering financial advice to clients and businesses.
What can you do with a Finance Associate’s Degree?
Although an Associate’s degree program is often seen as a Bachelor’s preparatory course, it can aid one in securing jobs as:
- Bookkeeper: Their responsibilities involve maintaining the financial records of a company. They maintain accounting records, ensuring payments to vendors; they balance accounts, prepare periodic finance reports as well as responsible for handling administrative tasks such as the documentation and arrangement of financial records. They also communicate with finance heads to ascertain inventory and budget requirements. They are estimated to earn up to $36,430 annually.
- Stock Broker: They are responsible for the management of clients’ investments. They proffer professional advice to businesses, suggesting when to buy or sell a stock/share; they carry out research on the performance of foreign stock, aid clients in assessing their investment, as well as interpreting their financial reports. They are projected to earn as much as $72,070 as salary.
- Brokerage Clerk: Their duties entail providing support to stock and securities brokers in finance establishments. They prepare stock purchase orders, communicate with clients to aid them resolve finance and account issues. Part of their duties also include maintaining finance records, monitoring stock prices, preparing finance reports, and computing purchases, taxes and sales. They are projected to earn up to $47,250.
Most entry-level jobs in the finance field require a Bachelor’s degree, and so to increase competitiveness, it is recommended to obtain a Bachelor’s degree.
What can you do with a Finance Bachelor’s Degree?
With a Baccalaureate in finance, you possess vital accounting skills, knowledge of balance sheet preparation, finance reporting skills, and ability to carry out financial analysis. These skills among others prepare you for job positions as:
- Financial Analyst: They are tasked with the duty of providing financial counsel to businesses and clients. They carry out research on the performance of stocks, bonds, shares, and use the acquired information in proffering financial recommendations. They also conduct financial assessment of companies to determine their fiscal status and suggest adjustments where necessary.
- Tax Adviser: They employ their knowledge of tax regulations to give tax counsel to their clients. They aid clients in meeting their tax requirements ensuring they don’t overpay or omit payments. They provide tax strategies to limit losses; they also prepare reports, carry out research on changing tax policies and generally ensure compliance with tax legislation.
- Actuary: They assist clients with the management of financial risks. They employ their knowledge of statistics, investment and probability to evaluate risks in finances; they proffer advice on financial issues, oversee the activities of finance team, as well as using financial data to foresee possible contingencies and how to avoid them.
- Financial Manager: They evaluate and monitor the investments of an organization to ensure profit maximization and cost minimization. They carry out analysis on sales, expenditures and economic changes to obtain information they use in guiding the business decisions of a company.
- Chartered Public Finance Accountant: They specialize in the monitoring of accounting and financial activities in public organizations. They develop financial management systems and apply them in the proper management of public funds. They prepare financial budgets and report; they conduct internal audits, control expense and take major financial decisions in a firm.
The median salary of finance baccalaureate is pegged at $65,710 annually although pay varies according to job titles and field.
What can you do with a Finance Master’s or Doctorate Degree?
Advanced degrees in finance increase the job prospects of finance majors. With a Master’s/doctorate degree in finance, you can qualify for job positions as:
- Chartered Financial Analyst: They are responsible for taking major finance decisions in a company as relates to stocks and investments. They also direct the financial activities of a firm.
- Financial Consultant: They assist clients in resolving financial issues by proffering advice that aids a client in making wise business choices.
A finance degree generally provides lucrative job options that you can choose from and build a successful career.
What jobs do you plan to get with your finance degree? Please share which of the available finance careers strikes your interest, and why in the box below.