5 Ways a Finance Degree Can Change Your Life

Despite all the recent talk about the economy slowing down, a degree in finance is the top bachelor’s degree in demand this year.[1]

66.8 percent of the respondents (read: employers) surveyed in the National Association of Colleges and Employers (NACE) job outlook report said they were going to hire finance graduates this year; up almost 9 percent from last year’s numbers.[2]

Think it’s a challenging field of study? While some people may agree, it’s also one of the most valuable and interesting. You’ll find out why the rewards far outweigh the challenges as you read on.

Here are five ways a finance degree can add immense value to your life:

  1. You’ll get a good handle on your finances – unlike studying accounting, which is focused on doing money transactions, this degree is all about money management; managing your credit cards, your portfolio and planning for your future are great skills to have in any type of economy.
  2. You’ll understand how the world operates – understanding how countries and large financial institutions lend and borrow from each other not only gives you a view from the top to our globalized economy, but it also gives you more talking power in your social life now that you finally “get” the big picture.
  3. Contrary to traditional belief, you’ll Increase your chances of getting a job – when it comes to finance, almost everyone immediately thinks of financial institutions, insurance companies or real estate agencies. However, there are other parties showing considerable interest in finance grads such as the food and beverage manufacturing industry and the government, according to the NACE report.
  4. You’ll diversify your potential sources of income – in addition to your corporate work, you will have the opportunity to do freelance work in managerial consulting since businesses are always looking for creative advice on how to cut costs, boost revenue and raise capital.
  5. You’ll find it easier to reach your goals – as your analytical skills get sharpened on an intellectual level with such concepts as "future value", you’ll make better decisions when you apply them in the real world, which can lead you in the right direction towards achieving your dreams in the long term.

It’s almost always the uneducated financial decisions that stand between you and your greatest achievements. And the good news is the more you study and apply your financial knowledge and education, the better the decisions you’ll make, building up your experience in an echoing snowball effect.

[1] The National Association of Colleges and Employers, "NACE - Job Outlook 2013: Hiring Up 13 Percent, Degrees in Demand", Septermber 26, 2012, http://www.naceweb.org/s09262012/job-outlook-2013

[2] The National Association of Colleges and Employers. Job Outlook 2013 - Member Version. Bethlehem, PA. November 2012.

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