Having a finance degree is like having gold in the form of paper. Finance degrees can open the door to an exceptionally lucrative career in many different industries. Crunching numbers is what makes the world go round and every business benefits from having good sound financial advice from an accountant or bookkeeper. If you're thinking about pursuing financing as a career and you're looking to get a finance degree, but you haven't fully decided, you should consider these five benefits of pursuing a career in finance.
Once you obtain your finance degree, your career choices are endless and plentiful. People with finance degrees often work in banking either as an accountant or a bank manager, but this is not the only option available. You may begin as a loan officer or credit specialist, and there are also many insurance departments that have a need for financial gurus.
Once you have a degree in finance, you can go on to pursue a specialty such as bookkeeping, or you can go straight into the career field. Depending on which career field you choose, your salary will differ significantly. According to the Bureau of Labor Statistics, accountants and auditors start off with a median pay of $61,690 per year, whereas an insurance underwriter makes $59,290 per year. This is an exceptionally good income, considering that the average American household income is between $49,000 and $51,000 per year.
Room for growth
Having a degree in finance makes it easy for you to work your way from entry level to executive. Working for a big corporation at entry level, gives you the opportunity to put your finance degree to work. It also gives you the opportunity to learn about the business, giving you serious advancement opportunities. Keep in mind, also, that working in an executive position gives you the opportunity to make a six-digit income per year.
Opportunity for continuing education
When pursuing a finance degree, you can choose which degree level you want to achieve. Some people elect to earn an associates degree in finance and from there they go straight into the work field. However, you also have the opportunity to attain a higher degree. Finance degrees range from associates to a doctorate degree, although a master's degree in finance will give you top business opportunities.
You can choose to focus on a specialty when obtaining a degree in finance. Depending on what field you want to go into, there are several specialties you can choose from. If your career goal is to become a credit analyst, you may want to study business or economics alongside attaining your finance degree.
Getting a degree in finance can be hard work, but is well worth the effort. Most universities or colleges that offer financing degrees require that you have a high school diploma or a general equivalency diploma (GED). Most institutions will also require that you take prerequisite courses, although trade schools may omit this option. Although financing degrees can be obtained online, there are only few schools who give finance degrees as a distant learning option.