Whether you’re considering going back to school to get a degree or you’re a high school grad still trying to work out your future major, it’s important to think carefully about what you hope to get out of your education. There are a lot of degree programs out there, after all, that put out graduates who will soon come to realize their final exam was the last time they’ll use what they learned. If you want to get started on a career, especially one that can keep things comfortable for you and your family, consider a finance degree. With a bachelor’s degree in finance offering enough to get started in the field, you’ll quickly find that this is one way to make sure your investment in education pays off.
Your Education Will be Put to Use Every Day
Unlike some other degrees with narrow scopes and limited applicability, an education in finance is one with a lot of real world utility. Many Americans today aren’t well versed in how to handle their finances, leading to the accumulation of unnecessary debt, late fees from mismanagement, and a lack of foresight when it comes to saving. While this isn’t the primary aim of a finance degree, it’s highly likely that you’ll pick up good lessons about money management, budgeting, and personal finance over the course of your degree. You may even be able to put your new financial skills to use when it comes to getting a mortgage or loans, learning to keep up with interest rates and when it’s a good idea to pay a balance down or stick to monthly installments and build credit history.
Finance Jobs are in Demand
Of course, finance offers much more than just insight into your own monetary situation. Jobs in finance are seeing significant growth at present, and individuals with education are very much in demand. The Bureau of Labor Statistics expects 10% or greater employment growth over the 10 year period from 2016-2026 for positions like financial examiners, financial analysts, personal financial advisers (15%), and financial managers (19%), solidly beating out the national average. Even the entry-level finance positions come with a salary to match the demand, with each of the four jobs listed above having a median annual salary of $80,000 or greater in 2018. While competition for top-paying jobs is always intense, high salaries and a growing industry means there are more opportunities to go around.
Finance Can Lead to the Top
You don’t have to stop there, however. Many of the highest paid positions in the country are finance-related, and good financial sense can be key to securing promotions, even to more managerial roles. Chief financial officers, or CFOs, are the top-ranked executives in a large company’s finance department, responsible for shaping the future of the organization through their financial planning and careful oversight. Finance skills also translate well to real estate, and while that’s often commission-based work, there are few careers with as much potential to earn for a dedicated worker.
Within the field of finance itself, there’s plenty of opportunities for advancement, and most of them will require at least a bachelor’s degree. To become licensed as an actuary, for example, it’s necessary to have completed some college-level financial courses in addition to holding a bachelor’s degree, so a degree in finance will ensure that you have those requirements met. There are also certification options available, such as the Chartered Financial Analyst certification, which look great on resumes and may be preferred by employers. Obtaining these certifications and licenses can open a lot of doors, but they almost universally want candidates to hold a bachelor’s degree.
A financial education offers a lot of benefits to a student who’s still deciding his or her future. Whether it’s lessons to be applied to one’s own life, a solidly earning career, or a shot at the highest rungs of the business world, a finance degree can help you to be your best. If you’ve got a talent for dealing with numbers, give the field of finance some consideration—it may be just the career you’re looking for!