What kind of career can you pursue with financial education? From financial planning to investment banking and insurance, those who choose a career in finance are a force in the world. Earning a finance degree is the first step to unlocking the potential of a career in finance. This article will discuss the different types of finance degrees for finance professionals, careers in the finance industry, corresponding salaries, and skills. Careers in the financial sector are often a popular option, as they can offer high-paying positions shortly after completing a degree.
The various job opportunities in the financial industry are tremendous, with many majors to choose from. Depending on your level of education and specific interests, there is a financial career for you. A career in commercial banking offers many financial services such as savings accounts, checking accounts, and several loan options. There is much room for growth in commercial banks, as many start their careers as bank tellers and then become branch managers.
Investment banking is a highly intensive business involving the sale and trading of corporate securities and providing detailed advice to companies and individuals. An investment banker’s duties may also include buying and selling stocks and bonds on the stock market.
Financial planners work with clients to develop plans to ensure an individual’s current and future economic well-being. They discuss investing and saving strategies to achieve client goals. Typically, financial planners work for local or national companies and should strive to become Certified Financial Planner (CFP).
Working in the insurance industry allows you to explore many different aspects of finance within the industry. You can work as an insurance sales representative customer service specialist or perform risk and probability calculations for financial trends to help your clients achieve their financial goals.
Another varied career for an accounting professional in public accounting.
An accountant works with private clients and corporations to maintain their financial transactions, verify their records, and prepare tax returns. As a rule, an accountant can work in small or large companies depending on the clientele.
Unregulated private equity funds are commonly referred to as hedge funds. Dealing with this type of investment offers a range of job opportunities ranging from financial traders, analysts, compliance officers, and portfolio managers.
A career in venture capital explores the expansion of potential financial opportunities for a small business or start-up. As a venture capitalist, you will determine whether your company will invest in these companies in the hope that their shares will be publicly listed on the stock market. Commercial and residential property finance professionals work with clients to develop the best financing strategy for purchasing a family home, office or shopping centre. Potential career opportunities in financial, real estate include mortgage brokers, mortgage companies, and life insurance professionals.
The Chief Financial Officer (CFO) monitors a company’s profit and loss and then develops a strategy to sustain financial success. A vital aspect of the CFO is his managerial skills, and he often oversees the team of employees.
As you study for a degree, finance courses will give you a solid understanding of the financial knowledge, technology, and interpersonal skills to succeed in the job market. Understanding the different economic environments will also play a crucial role in determining where you would like to focus your financial career. Below are the 10 main vital elements of the financial sector.
- Accounting Qualifications/Certifications
- Interpersonal Skills
- Management Skills
- Communication Skills
- Strong Problem Solving Skills
- Financial Forecast Reporting
- Analytics Capabilities
- Software Skills
- Business Savvy
- Innovative Skills
What is the difference between accounting and finance?
Accounting and finance differ in the specifics of the financial sphere of their activities. The field of accounting deals with the more complex financial transactions daily, while finance focuses on the broader management of investments over time.
Someone in the accounting field usually works with audits, taxes, and budgets on an ongoing basis and continues to provide complex numbers to report the evolution of their business success. A person in finance focuses on stocks and bonds and identifies good investment strategies to ensure that their finances grow with the ever-changing market.
Can you get a CPA with a finance degree?
Yes, you can get a CPA degree with a financial background.
To take the CPA exam, you need to earn a bachelor’s degree in accounting or another business-related field. A finance degree will allow you to take the CPA exam.
How long does it take to get a finance degree?
It takes 4 years to complete a finance degree as it is a bachelor’s degree.
Is finance an undergraduate or bachelor’s degree?
A finance degree is a bachelor’s or science degree.