What Can I Do With a Degree in Finance?

Introduction

In today’s economy, a degree in finance is becoming increasingly valuable. A finance degree provides a strong foundation of knowledge in financial analysis, accounting, economics, investments, and risk management – all of which are necessary skills for those looking to pursue a career in the industry. With so many different job opportunities available, it can be difficult to decide which direction to take. The purpose of this article is to explore what you can do with a degree in finance, including potential job options and the qualifications and skills needed.

Pursue a Career in Investment Banking

Investment banking is a great option for those with a degree in finance. Investment bankers help companies and governments raise capital by issuing securities, such as stocks and bonds. They also advise clients on mergers and acquisitions, which involves researching and analyzing companies to determine their value and then helping them navigate the process of buying or selling other businesses. Investment bankers must have a firm understanding of financial markets and regulations, as well as strong analytical and problem-solving skills.

According to a study conducted by Robert Half International, investment bankers earn an average salary of $107,000 per year. However, salaries can range significantly depending on experience and location.

Explore Opportunities in Financial Planning

Financial planning is another option for those with a degree in finance. Financial planners help individuals and businesses manage their money by creating financial plans that include budgeting, saving, investing, and tax strategies. They may also provide advice on insurance, retirement planning, estate planning, and more. Financial planners must have strong communication and interpersonal skills, as well as an in-depth knowledge of financial markets, products, and regulations.

According to the Bureau of Labor Statistics, the median annual wage for financial planners was $88,890 in May 2019. Salaries can vary greatly depending on experience and geographic location.

Become a Risk Manager

Risk managers are responsible for assessing and mitigating risks within an organization. They develop strategies to reduce potential losses due to accidents, theft, litigation, and other unforeseen events. Risk managers must have an extensive knowledge of finance, economics, and statistics, as well as strong analytical and problem-solving skills. They must also be able to identify and evaluate potential risks and create solutions to mitigate them.

The Bureau of Labor Statistics reported that risk managers earned an average annual salary of $105,810 in May 2019. Salaries can vary significantly depending on experience, qualifications, and location.

Take on a Position in Corporate Finance

Corporate finance is a great option for those with a degree in finance. Corporate finance professionals are responsible for managing a company’s finances, including budgeting, forecasting, and investment decisions. They must have strong analytical and problem-solving skills, as well as an in-depth knowledge of financial markets, products, and regulations. Corporate finance professionals must be able to identify and evaluate potential risks and create solutions to mitigate them.

According to the Bureau of Labor Statistics, the median annual wage for corporate finance professionals was $121,750 in May 2019. Salaries can vary significantly depending on experience, qualifications, and location.

Find a Job in the Insurance Industry

The insurance industry is another option for those with a degree in finance. Insurance professionals help individuals and businesses protect themselves against financial losses due to accidents, illness, theft, and other unforeseen events. They must be knowledgeable about a variety of insurance policies, as well as legal and regulatory requirements. Insurance professionals must also have strong analytical and communication skills.

According to the Bureau of Labor Statistics, the median annual wage for insurance professionals was $63,030 in May 2019. Salaries can vary significantly depending on experience, qualifications, and location.

Investigate Careers in Accounting

Accountants provide essential services to individuals and businesses, such as preparing financial statements and taxes, auditing financial records, and providing advice on financial matters. Accountants must have a thorough knowledge of accounting principles and practices, as well as strong analytical and problem-solving skills. They must also have excellent communication and interpersonal skills.

The Bureau of Labor Statistics reported that accountants earned an average annual salary of $71,550 in May 2019. Salaries can vary significantly depending on experience, qualifications, and location.

Look for Jobs in Financial Analysis and Consulting

Financial analysis and consulting is a great option for those with a degree in finance. Financial analysts and consultants provide advice on investments and other financial matters. They must have strong analytical and problem-solving skills, as well as an in-depth knowledge of financial markets, products, and regulations. Financial analysts and consultants must be able to identify and evaluate potential risks and create solutions to mitigate them.

According to the Bureau of Labor Statistics, the median annual wage for financial analysts and consultants was $85,660 in May 2019. Salaries can vary significantly depending on experience, qualifications, and location.

Conclusion

A degree in finance can open up a world of career opportunities. From Investment Banking to Financial Analysis and Consulting, there are numerous job possibilities available. It is important to research the various positions to determine which one best suits your skills and interests. No matter which path you choose, a degree in finance can provide the necessary knowledge and skills to succeed in the industry.