Why Study Finance?
If you’re considering your degree options, you may be wondering if the pursuit of a financial degree is a worthy investment. There are several reasons why you might consider pursuing a bachelor's degree in finance. It’s a versatile degree that can prepare you to succeed at a wide range of jobs for many different types of organizations. Additionally, you will learn invaluable skills that can be used to your own financial benefit.
Here’s a quick look at why many students decide that majoring in finance is the right choice for them.
Enhance Your Own Financial Health
Finance students acquire key knowledge that is both broad in scope and in-depth in nature. You will study important topics, such as:
- Portfolio theory, management and application for business and individual investment decisions
- Infrastructure of the modern monetary system
- Market forces of supply and demand, consumption and production
- Risks and rewards of investing in residential and commercial real estate
You'll also learn about investment strategies, risk management, financing, credit reporting and lending. All of these topics can enhance your understanding of your own financial health, both presently and far in the future.
Financial literacy is very important for everyone to have, yet many Americans lack it. According to a three-year survey by the FINRA Investor Education Foundation, there has been a troubling downward trend in financial literacy during the past few years. As measured by their responses to questions, only 17 percent of Americans ages 18 to 34 displayed solid financial literacy.1 Clearly, greater financial education is needed in the U.S.
By majoring in finance, you can lay the foundation for your own financial health. You’ll learn how to make wise, forward-thinking decisions that will pay dividends now and in the future.
Job Opportunities Are Vast
Of course, a finance degree can offer much more than knowledge for your own personal use. You can also pursue a diverse range of job opportunities. The decision to study finance opens doors to perhaps some of the widest ranges of jobs available, as every type of organization needs financial assistance and oversight.
Although a finance degree seems like a specialized qualification, it is actually quite versatile. In addition to jobs in the banking industry, you might consider working in financial planning, for example, or government financial management.
Here’s a look at some of the jobs that you may apply for:
- Personal Financial Advisor
- Financial Examiner
- Financial Analyst
- Treasurer or Controller
- Loan Officer
- Risk Management Specialist
These are just a few examples. Other possibilities include fraud investigator, investment underwriter, sales agent and stockbroker. Many jobs in finance are experiencing robust growth right now. According to the U.S. Bureau of Labor Statistics, it’s expected that the economy will add 104,700 jobs for financial managers through 2028. This is a 16 percent rate of growth — a rate that is much faster than average.2
Additionally, there will be a seven percent rate of growth — faster than average — for both financial advisors and financial examiners through 2028.3,4 This means that majoring in finance can be a smart bet for students seeking to enter the job marketplace.
All Organizations Need Finance Graduates
Earning a finance degree doesn’t just offer a wide range of job opportunities — it also enables graduates to pursue positions in different sectors at varying types of organizations.
Finance majors often pursue work at privately and publicly held corporations. For example, they may work at small, mid-size or large corporations. Some graduates choose to work for government agencies, where they gain satisfaction from serving the public. Others decide to go into the nonprofit sector, where they can support charities that serve those in need.
Help Others Attain Financial Freedom
In many finance jobs, professionals work directly with people to help them achieve better financial health.
For example, stockbrokers assist their clients in developing a diversified portfolio that can help them establish financial security. Financial advisors work directly with clients to provide financial education, investment advice and guidance on achieving financial goals, such as saving for retirement or a child’s college education.
Many finance professionals find it personally meaningful and rewarding to help others. This career field is very rewarding, and includes a ‘higher purpose’ of helping others prepare and plan for their financial future.
Launch Your Own Business
Some students decide to work toward a finance degree because they have entrepreneurial aspirations. With a finance degree, you may choose to launch your own financial services business and become an independent financial advisor, for example.
However, a degree in finance can also help you even if you have dreams of starting a completely different type of business. Whether you want to open a retail store or start your restaurant, the fiscal knowledge that you’ll gain during your degree program will certainly prepare you for success.
You can begin working toward your finance degree at Grand Canyon University. Apply for enrollment in the Bachelor of Science in Finance or Bachelor of Science in Finance and Economics program, available from the Colangelo College of Business. If you already hold a bachelor’s degree, consider furthering your career qualifications by earning your Master of Business Administration with an Emphasis in Finance. Click on Request Info above to begin your enriching journey at our Christian learning community.
Retrieved from:
2 https://www.bls.gov/ooh/management/financial-managers.htm
3 https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
4 https://www.bls.gov/ooh/business-and-financial/financial-examiners.htm
The views and opinions expressed in this article are those of the author’s and do not necessarily reflect the official policy or position of Grand Canyon University.