Things you need to know before pursuing a Finance Degree:
People who have specialized in finance need to be good at crunching numbers, but they also need to have good communication skills and the ability to get along well with others. Finance experts can choose to work in a variety of businesses, because most businesses require someone to manage their finances.
The job profile of a finance professional.
A professional in finance needs to manage other people’s money for them. Keeping track of money matters can sound tedious but it is of utmost importance for any organization. Experts in finance can find employment in all kinds of sectors ranging from small and large businesses, charitable organizations, government agencies, NGOs, etc. Because of the great demand for qualified and experienced finance professionals, finding a job isn’t too difficult.
However, a strong academic background and relevant experience can certainly give you an edge, particularly since jobs in this field are expected to be scarce in the foreseeable future. Within this field, there are a number of specializations you can opt for, for instance, real estate, commercial banking, money management, corporate finance, investment banking, insurance, financial planning, and many more. If you really want to succeed in this field, you need to have more than number-crunching abilities, People skills and the ability to think critically are qualities that will help you to stand out from the rest of the crowd.
Career Avenues with a Finance Degree
If you are looking to get a degree in finance, you can opt for a variety of degrees, depending on your inclination. You can get a bachelors’ degree in finance and a masters’ degree in business administration (MBA) in a specific field, and a doctorate degree too if you wish. Your pay package and job designation will depend on the kind of finance degree you get.
For instance, a bachelors’ degree in general finance will get you entry-level jobs in banks or private businesses. Having a masters’ degree will enhance your career by enabling you to specialize in a particular field and giving a global perspective of the financial sector. A masters’ degree opens up a number of career opportunities for finance professionals, while a doctorate degree is usually pursued by those who wish to enter the academic field for research or teaching.
Educational criteria for getting admission into finance school.
The criteria for getting admission into a finance program varies according to the program and school you apply to. A high school diploma is more than sufficient for a certificate or associate degree or a bachelors’ program in finance. Securing admission into a masters’ degree program is generally tough and requires good grades at the bachelors’ degree level.
Doctoral programs are even more competitive, and usually have a list of stringent requirements like strong references, work experience, high grades at the bachelors and masters’ degree levels, and more. Each school that offers finance has its unique criteria, so it is better to check with the career counselors of the schools you are interested in.
Online Degree Programs in Finance
There are a variety of online finance degree programs for aspiring finance professionals. There are a number of programs that allow you to study in the comfort and privacy of your home. The level of the programs offered can range from certificate programs that focus on retirement planning, family finance, or real estate, to a masters’ degree in business administration that concentrates on finance, to even a PhD in a finance-related topic. Again, you need to check with the career counselors in the schools you are interested in, if you want to get the specifics of the program.
The salary levels of finance professionals.
Rookie finance professionals usually get a break in this field via meagerly paid entry-level positions. These positions normally offer modest salaries but you can earn commissions on your accounts. However, even in entry-level positions, the salaries can vary depending on the kind of firm you work with and the level of your education. On an average, rookie finance professionals can expect to make between $24,000 to $30,000 on an annual basis. Retirement and health benefits vary by organization.