Students have many compelling reasons to earn a degree in finance, but there are 5 top reasons in particular. Many types of degrees are available, from a 2-year associate's degree to a bachelor's, master's or doctorate in the field. The reasons for earning the degree grow more compelling as the level of the degree increases.
Interest in the Field
Anybody who is earning a degree in finance should be interested in the field, at least on some level. It does not necessarily have to be your favorite topic, but you should enjoy working with numbers and making decisions related to money. Getting a degree in finance and planning to work in the field can be torture if you do not have at least a minimal interest in the field. On the other side of things, if you absolutely love finance and learning how financial systems work, this is a great indicator that you should earn a degree in the field.
Having a degree in finance can prepare you for a variety of careers. All businesses have financial officers, so the degree comes with lots of practical skills that can help you land a job when you are done. You can work as an investment banker, financial planner, loan officer, financial consultant, financial analyst or one of many other positions in the field. These types of positions typically require applicants to have a degree in finance or a related field, such as accounting, business or economics.
Finance degrees provide high earning potential, often even in entry-level positions. When you are just starting out in the field, you can expect to make at least $40,000 per year, with great potential for salary increases as you gain experience and move up in a company. Average salaries in finance-related jobs are usually about $55,000 per year, plus benefits. With a degree in finance, you can expect to earn a good living, have a comfortable lifestyle and have plenty of career opportunities during your lifetime.
Jobs related to finance are quite prestigious, so if you are interested in making a name for yourself or being looked up to by your friends and neighbors, earning your degree in finance is a useful first step. As you work in the field, you will have a professional appearance, make contact with many people who have control over money and gain a degree of control yourself as well. People you interact with will likely respect you and look up to you as an expert in the field.
Starting a Business
A degree in finance can be a helpful first step for starting your own business. Understanding how money works in a business is a critical part of creating a viable business plan and staying on top of your small business' financial paperwork. You can take on the roles of a buyer, accountant, and analyst for your company. You should also take some business classes to round out your ability to manage other parts of the small business.