Will Studying Finance Help You? Is Finance a Good Major?

As a finance major, you will study how companies have performed in the past to predict how they will perform in the future, and learn how to communicate information that will drive strategic changes. Many of your assignments will be project driven, whether they be individual case studies to enhance your problem-solving ability, or group presentations to practice the way you interact with others. Typical classes in this major include accounting, economics, math and psychology. Everything is covered, including investing, insurance, and even law, as well as accounting and economics. There are numerous other possibilities than studying finance in college, yet this is the course of study that many students pick.

• The Bureau of Labor Statistics (BLS) is the government agency that researches, analyzes, and publishes statistical data on the U.S. labor market and makes employment growth projections based on this data.
• Whereas an accountant would seek to analyze financial data to produce a report, a finance expert would be more inclined to synthesize that information to generate an actionable recommendation.
• A number of fundamental courses must be completed before moving on to an advanced option and the last year of study for a degree in finance.
• Your major should require critical thinking, be in a field that is academically rigorous and capture your interest and match your skills well enough for you to earn good grades.
• They must to be able to reason well, assess issues, communicate clearly, and comprehend how businesses operate.
• Would you be interested in helping companies plan for how to grow their revenue or maintain profitability in both the short and long term?

Grants analysts help nonprofits navigate their finances by planning budgets, ensuring compliance, and identifying trends to help guide decision-making. Because nonprofits are different legal entities than businesses, is finance a good major you’ll need a specialized understanding of nonprofit accounting practices. Financial analysts play key roles in media, biotech, and information technology sectors. This makes it a versatile career option to take you into new and growing industries. The US Bureau of Labor Statistics (BLS) reports that the employment of financial analysts is expected to grow by 9 percent—faster than average—from 2023 to 2033 6.

A Master of Finance (MF) provides deep, specialized knowledge in finance-related topics such as financial theory, quantitative finance, and financial analysis. This degree is suitable for individuals seeking highly specialized finance roles like financial analysts or portfolio managers. The choice between an MF and an MBA often depends on individual career goals and prior work experience. Pursuing relevant certifications can enhance a finance degree by demonstrating specialized expertise.

Job Growth Outlook for Finance Roles

Understanding financial principles is important in today’s interconnected world, where economic shifts can have far-reaching effects. This field is constantly evolving, requiring continuous adaptation to new technologies and market dynamics. Fintech companies often look for business analysts who know the financial realm well. If you’re interested in fintech, gaining some business operations or data analysis experience can give you a competitive edge. New technologies and consumer appetite for transparent products have made financial technology—or fintech—companies see enormous growth 2.

“I’ve worked with successful law school applicants who majored in fields as diverse as engineering, philosophy, English, nursing and the performing arts. Pick the major that pushes you intellectually and that you’ll enjoy enough to do well in. Interest and aptitude are two strong factors to consider in choosing your major, not what you think will impress a law school,” he says. “There’s no magic major for law school,” says Ben Cooper, Forbes Advisor Educational Advisory Board Member, lawyer and founder of PreLawPro, a business that provides admissions counseling for law school. Wealth management and financial planning focus on helping individuals and families manage their financial assets and achieve long-term goals.

Impact investing analyst

And yes, it’s difficult to advance, but the rapid growth in compensation as you move up more than offsets that difficulty. It’s extremely difficult to break in, but once you’re in, the compensation and exit opportunities make the initial effort worth it. Impact investing and closely related socially responsible investing (SRI) are growing methods in which investors choose to place funds in companies or projects that align with their values.

Why Do People Think Finance is Difficult?

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How To Prepare for Law School Regardless of Major

You’ll need to acquire more complex mathematics and statistics than what is typically taught in most degrees if you intend to pursue a career in investment banking. Additional programming languages like SQL, Java, Python, and Ruby will definitely be useful to have a working knowledge of. If you have an undergraduate degree in finance or accounting and pass the CFA exam, your salary can increase dramatically. Studying a foreign language is a good chance to dabble in various humanities. In higher-level courses, you will analyze literature, read historical texts and discuss political systems in the same ways you might in an English, history or political science course.

• I’ve had IEPs (special modifications for school) for math like extra time, calculator on non calculator things.
• If you’re more fascinated by financial markets, how people construct investment portfolios, wealth creation and preservation, investment management could be the route for you.
• Students delve into corporate finance, which examines how companies manage capital, make investment decisions, and structure their financing.

White-collar work was spared because tools like AI had not yet advanced enough to “replace” office workers. Finance careers were still desirable, but people were not killing themselves to win entry-level positions in quite the same way. This data is not great because the “financial sector” includes dozens of careers, but on average, the pay premium in the U.S. went from ~5-10% in 1978 to ~70%+ in 2018. Broadly speaking, finance refers to the management of money, and accounting refers to keeping track of money. As an analyst, you can work for companies that focus on responsible investing or in the impact investing arm of traditional financial organizations like banks or mutual funds. The field has grown rapidly in recent years, with a 14 percent CAGR between 2019 and 2024, according to a survey by GIIN 4.

Some pre-law majors are more popular than others and can play into the holistic impression that you create when applying to law school. Real estate finance involves the financial aspects of property acquisition, development, and investment. Professionals may work as mortgage brokers, real estate analysts, or in real estate investment firms, dealing with financing structures and market analysis. Earning potential varies based on experience, specialization, and market conditions.

Coursework might include financial modeling, data analytics, pricing theory, and financial ethics. Still, they can enhance your earning potential and prepare you for managerial work that requires a deeper understanding of financial principles. A Master of Business Administration (MBA) can also prepare you for finance careers. A finance degree is designed to equip you with an understanding of accounting, statistics, and economics and prepare you for a career in managing money in various forms.