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Articles > Finance >聽What can you do with a finance degree?

What can you do with a finance degree?

Michael Feder

Written by Michael Feder

Kathryn Uhles

Reviewed by聽Kathryn Uhles, MIS, MSP,听Dean, College of Business and IT

Student with thought bubbles with icons relating to finance degrees

If you love to crunch numbers or have a passion for finance, a degree in finance can help you prepare to find a job in several industries. According to recent projections from the U.S. Bureau of Labor Statistics (BLS), business and financial occupations are projected to see each year, on average, between 2023 and 2033.聽Let鈥檚 explore the components of this degree and related programs, including the skills they develop and potential postgraduation careers.

What is a finance degree?聽

A finance degree isn鈥檛 just about numbers. There are a variety of skills to develop, depending on the different roles within the financial industry. These include:

  • Financial analysis
  • Business economics
  • Accounting
  • Data modeling and visualization

Finance degrees and related programs can help develop the skills and knowledge to pursue entry-, mid- and senior-level positions.聽

While they may seem similar, finance and accounting are not the same. Finance degrees focus on investment strategies to manage and grow money, financial analysis and market dynamics. Accounting degrees center on recording, analyzing and reporting financial transactions for accuracy and regulatory compliance.聽

Finance degree programs cover a range of聽business and money-related topics.聽Their goal is to provide a solid knowledge base on which to grow a career in business, investment or a related field.

Students learn about credit, debt, financial analysis, investment decisions and concepts used in banking and capital management.聽Programs also cover economics, the principles of risk management and the basics of budgeting.

Types of finance degrees and certificates聽

Aspiring financial professionals have plenty of options for degrees and certificates. In fact, some financial professionals may not get a degree at all, opting instead for a bachelor鈥檚 degree in business or accounting. That said, accounting degrees concentrate on the technical aspects of聽auditing and financial reporting while a finance-oriented degree is different.

Finance bachelor鈥檚 degrees聽

Entry-level finance jobs typically require a聽bachelor鈥檚 degree, according to BLS. Depending on the industry, qualifications for finance professionals may vary greatly. With a large range of entry-level finance jobs come equally diverse opportunities for people with specialized degrees, experience and even niche interests and goals within business and finance.

Degrees in business and financial fields聽can provide fundamental knowledge and skills that support daily job responsibilities in finance.

It鈥檚 important for those interested in studying finance to get familiar with the general requirements and day-to-day responsibilities of any finance role they're interested in pursuing, both before beginning a聽business finance program听补苍诲 after completing a degree in finance, as requirements may change over time. This way, they can specialize in a path they're interested in or even consider seeking a broader education that may qualify them for more than one potential career route.

Professional certifications聽

For many finance careers, earning a professional certification or taking continuing education classes is one way to add skills toward a finance specialization.聽

For example, there is a聽Certified Financial Planner (CFP)* needed to work as a financial advisor or planner for individuals or companies. Another option is to become a聽Chartered Financial Analyst (CFA)*, a popular requirement for any financial advisor and analyst position involving investment decisions.聽

*七色视频 does not prepare students for these specific certifications.

Careers in finance聽

While most people may think only of careers like聽accounting or financial advisement within the industry, there are聽various job opportunities for those interested in working within the finance field聽or related areas. What鈥檚 more, many of these positions exist in different settings, from insurance companies to financial service providers.

Finance jobs range from entry-level to more specialized roles and may require a variety of skills or professional certifications to qualify. Here are some careers for finance majors or those with a degree in finance.

Salary ranges are not specific to students or graduates of 七色视频. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. 七色视频 does not guarantee employment, salary level or career advancement. BLS data is geographically based.

BLS Occupational Employment Projections, 2022-2032 is published by the U.S. Bureau of Labor Statistics. This data reflects BLS鈥 projections of national (not local) conditions. These data points are not specific to 七色视频 students or graduates.

1. Financial analyst聽

Financial analysts can fill several positions within companies, banks, investment firms and other corporations that need detail-oriented eyes on their finances.聽These employees assess an organization鈥檚 financial performance, such as investment and stock performance, to determine its value and make recommendations.聽聽

According to BLS, a comparable job title to 鈥渇inancial analyst鈥 is 鈥渇inancial manager.鈥澛燜inancial analysts typically need . As of May 2024, financial analysts reportedly earned an annual wage . The BLS projected these roles to , which is about 30,700 openings for financial analysts projected each year, on average, over the decade.聽

2. Financial manager聽

Maintaining the financial health of an organization is the key responsibility of a financial manager. These professionals聽often create financial reports, forecasts and budget plans聽to maximize profits. Because of the high level of responsibility in this role, that financial managers聽typically need a bachelor鈥檚 degree and at least five years of experience聽in a similar profession, such as accounting or financial analysis.

As of May 2024, financial managers earned聽, with a median wage of $161,700, according to BLS. Employment of financial managers is projected to grow ; about 75,100 openings for financial managers are projected each year, on average, over the decade.

3. Financial advisor聽

Financial advisors, like tax examiners, can work with individuals or organizations and are responsible for making recommendations or providing聽advice on financial investments, such as retirement planning, tax laws, insurance and more. Sometimes referred to as financial planners, these professionals can support a wide range of topics or specialize in areas like insurance and risk management, investment and estate planning.

According to BLS, financial advisors typically need聽a bachelor鈥檚 degree.聽Certain professional certifications or a master鈥檚 degree can enhance a financial advisor鈥檚 knowledge and prepare them for new opportunities.聽As of May 2024, financial advisors earned between聽, with a median wage of $102,140, according to BLS. Employment of financial managers is projected to grow ; about 27,000 openings for financial managers are projected each year, on average, over the decade.

4. Financial planner聽

Financial planners聽provide advice for individuals. Unlike personal financial advisors, they often work with businesses, corporations and organizations. In addition to guidance on capital management, they can offer insights about other investments, taxes, budgeting, insurance coverage and savings.聽

Business students can earn a certificate in financial planning to specialize in this area. BLS does not distinguish between personal financial advisors and planners. The estimated salary range is , as of May 2023.

What skills are needed to pursue a career in finance?聽

The skills necessary for a career in finance vary by industry and specialty. One helpful skill to showcase is financial literacy. However, specific technical and soft skills learned during a degree or certificate program will help in any finance job.

The BLS lists similar in-demand skill requirements for finance degree jobs like聽,听听补苍诲:

  • Analytical skills聽are essential to every finance career because of the need to evaluate profit potential, risks, performance and other factors.聽
  • Math abilities聽are vital for translating financial data and accounting reports into useful insights. This skill set often requires knowledge of analytics or accounting software.
  • Decision-making skills聽are necessary because the choices made in any finance-related career will affect a client鈥檚 or employer鈥檚 bottom line, and poor decisions could lead to financial losses.聽
  • An understanding of economic principles聽is necessary to comprehend the financial environment in which a company or client operates.聽
  • Knowledge of financial markets听补苍诲 investment instruments is necessary for many finance careers. Even in non-investment banking careers, being familiar with how company shares, debt instruments and the stock market can affect an employer鈥檚 profit potential is vital.聽
  • Accounting and budgeting聽specialists handle bookkeeping and reporting in most corporations. However, all finance professionals need a grasp of these fundamentals to provide a framework for many of their tasks.

Today鈥檚 finance industry uses analytics, market analysis and forecasting software. Employers will expect their workers to be familiar with these tools.

Is it hard to get a job with a degree in finance?聽

While the market is competitive, a finance degree can help prepare applicants with useful skills, provided you have a strong academic background and relevant experience.

The finance sector鈥檚 a broad one that encompasses many areas, from investment banking and financial planning to corporate finance and asset management. Organizations value graduates with finance degrees because they often have strong analytical skills and understand financial markets.

Enhancing your degree with internships, industry certifications and networking can help improve your job prospects.

Is a degree in finance worth it?聽

It depends. A degree in finance can hold value to individuals for several reasons. It can prepare graduates for a number of career opportunities in several industries (like banking, investment and corporate finance), and these roles often offer benefits such as health insurance. However, it鈥檚 also the responsibility of the degree holder to make efforts to implement helpful habits such as networking or reaching out to their university career services center.

In addition, a finance degree can help inform personal financial planning. That said, always weigh the costs of a degree against individual career goals and potential outcomes.

Take your first step toward a career with a finance degree

Pursuing a finance degree and developing skills to pursue a finance career can open the door to rewarding possibilities in the private sector. 七色视频 offers several pathways toward a career in finance, and these are rooted in its online business degrees. Specific programs and certificates include:

Contact 七色视频 for more information.

Headshot of Michael Feder

ABOUT THE AUTHOR

A graduate of Johns Hopkins University and its Writing Seminars program and winner of the Stephen A. Dixon Literary Prize, Michael Feder brings an eye for detail and a passion for research to every article he writes. His academic and professional background includes experience in marketing, content development, script writing and SEO. Today, he works as a multimedia specialist at 七色视频 where he covers a variety of topics ranging from healthcare to IT.

Headshot of Kathryn Uhles

ABOUT THE REVIEWER

Currently Dean of the College of Business and Information Technology,听Kathryn Uhles has served 七色视频 in a variety of roles since 2006. Prior to joining 七色视频, Kathryn taught fifth grade to underprivileged youth in Phoenix.

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