By Ernie Scarbrough, DBA
Associate Professor, Colangelo College of Business
What is a finance or economics degree worth?
Well, it depends. If it is sitting on your shelf or hung on your wall, its value is the value of the frame and paper. It was expensive in time and dollars to acquire the degree. But, by itself, it has no significant value.
Value is created by you—by the choices you make, the paths you walk and the ideas you bring to life. How will you use the knowledge and skills that you worked to obtain?
You can use your finance or economics degree any place deals with money. People with these degrees often become senior financial analysts, financial advisors, financial managers, accountants, CFOs, CEOs, entrepreneurs, etc. Incomes at these levels are substantially higher (well beyond $100,000 per year). They also tend to be more diligent in building their personal net worth to levels well above average.
It is a common mistake to think the degree is only valuable if you want to work on Wall Street or in the banking industry.
Business (big, small, public, private or self-employed) requires awareness of what is going on in your specific field and what is going in the economy. Nonprofit and charitable organizations must be financially sound to continue to provide their services to those in need. National, state and local government entities need to handle money (taxes, expenditures). Private and public company businesses must be financially and economically aware of the factors that influence their success (income and outflows of money).
Maybe, and most importantly, you are going to be the CEO/CFO of you and your family for the rest of your life.
So, maybe, you can use the degree almost everywhere.
What is your degree worth? Depends on you, the path you walk and the choices you make.
Want to learn more about earning a finance degree from an accredited institution? Request information from Grand Canyon University today!
About Colangelo College of Business
Business Buzz is a blog that features content written by faculty, staff and students from Grand Canyon University’s Colangelo College of Business. In addition to profiles about events, students and faculty on campus, you’ll also find insight and perspective on the ever-changing business discipline and current global business topics. Learn about the modern business landscape, and how business today continues to grow and evolve to meet the needs of organizations and consumers in the 21st century. Check in every week for the latest news from the business community and around GCU.