Is Pursuing a Finance Major Lucrative? The Full Guide
In today’s world, it’s important to understand financial concepts and how they apply to your life. Whether you’re just starting out as a student or are looking for a career change, studying the finance major can help you make better decisions with your money (and also lead to you earning a lot of money!). If you’re considering a degree in finance, then this guide is for you! We’ll explain what the field entails and provide some helpful tips on how to prepare yourself for the job market once school is over.
What is finance?
Finance is the study of money, investments and the financial markets. It’s a broad field that covers many different types of jobs.
One of the most popular definitions of finance comes from Investopedia: “Finance is the art and science of managing money effectively.
It’s true–finance can be looked at as an art form! But let’s not get ahead of ourselves here…
The field of finance encompasses a wide range of topics, including financial markets, investments, risk management and corporate financial controls. There are many different types of jobs within this field as well. For example, you could be a stockbroker or an investment banker. The skills required for each job are slightly different but all jobs in finance require strong analytical abilities, math skills and attention to detail.
Is pursuing a finance degree the right choice for me?
As you can see, there are many types of finance jobs and companies that hire finance majors. If you’re interested in pursuing a career in this field, it’s important to know what kinds of opportunities are available to you.
Here are some questions to ask yourself:
- Do I want to work at a big bank or investment firm? If so, then consider pursuing an MBA or other graduate degree after college. These types of companies often require advanced education for entry-level positions and may also offer internships during the summer months when students are not enrolled at school.
- Am I comfortable with numbers? If yes (and even if no), then consider taking as many quantitative courses as possible during college because many employers look for employees who have demonstrated their ability with numbers through coursework and/or test scores such as the GMAT or GRE.
Can I get a good job with a finance degree?
You can get a great job in finance with an undergraduate degree, but it will be harder to stand out from the crowd. If you want to make more money and have more options for your future career, consider getting an MBA.
You’ll also need to consider what kind of work you’d like to do when choosing a major. If you’re interested in investment banking or private equity, having a business background will help give you an advantage over other candidates applying for these jobs (and yes–they are hiring). But if entrepreneurship is more up your alley and entrepreneurship-focused degrees exist at all colleges (they do), then those might be worth looking into instead!
How can I prepare myself for the job search after graduation?
After you’ve graduated, it’s time to start thinking about your job search. There are a few things you can do now that will make the process easier and more rewarding later on.
- Write a resume that highlights your skills and background. Make sure it includes anything from college clubs or leadership positions to volunteer work or internships – anything that demonstrates how well-rounded and interested in finance you are as an applicant!
- Practice interviewing with mock interviewers at school or at home (if possible). This will help prepare both your mind and body for answering questions quickly under pressure–a skill that is essential when interviewing for jobs!
- Network with people who work in finance or have connections within the industry. They may be able to refer potential opportunities directly to those companies; otherwise they might know someone else who would be able to provide some insight into what kind of roles would suit someone like yourself best based on where they saw themselves going after graduation
How much money can I expect to make during my first years in the workforce as a new graduate?
As a new graduate, you can expect to make an average of $50,000 per year. That’s right–the average starting salary for a finance major is $50k! And if that doesn’t sound exciting enough on its own, keep in mind that it’s significantly more than what most non-finance majors earn: they tend to start out at around $35k annually.
However, there are some differences between how much money different types of finance degrees will make you in your first position after graduation. For example: if your undergraduate degree was in business administration (BA) instead of economics or accounting specifically–or if you went straight into graduate school without taking any time off between undergrad and grad school (which I would advise against)–then we’re looking at about an extra $10k for each year since high school graduation before we hit our peak earnings potentials as shown above. On top of this already impressive difference between BA vs Econ/Accounting majors’ starting salaries.
Pursuing a degree in finance is one way to ensure your future career success, but there are other ways to do so.
If you want to pursue a career in finance, there are other ways of doing so. If you’re interested in trading, for example, programming skills will be necessary. Analysts who want to break into the industry should know how to use Excel and read financial statements. And if your goal is becoming a portfolio manager or investment banker, knowing how businesses work internally could give you an advantage over other candidates during interviews.
In short: there’s no single path toward success in this field–but if your dream job is being paid handsomely while working with numbers all day long (and maybe even getting paid bonuses), then pursuing a degree in finance might just be worth it!
If you’re interested in pursuing a degree in finance, it’s important to know what kind of job opportunities are available and how much money you can expect to make with this degree. The good news is that there are many different types of careers within the field of finance, so if one type doesn’t work out for whatever reason then there will always be another option available for you!
Sarah Johnson is an expert in the finance and business sectors with over twelve years of experience in the industries. She holds a Bachelor’s degree in Finance from Harvard University and a Master’s degree in Business Studies and has worked for several varying financial institutions throughout her career. Sarah is also an official financial planner and has helped countless individuals and firms with their financial needs.
Sarah’s expertise in finance is well-established, thanks to her education, experience, and accreditations. Her articles on mdn.lol cover a wide range of finance and business related topics.