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Working in the finance industry can be a lucrative career with plenty of opportunities. Contrary to what most people believe, there are many things you can do with a degree in finance. At the undergraduate business, MBA and doctorate degree levels, there are plenty of options for everyone seeking to utilize their finance degree skill sets. Business and finance will forever go hand in hand. You cannot have one without the other. This is ultimately why you can also get an MBA in finance, if that is something you wish to pursue.
Be Realistic
The first step to deciding, “What should I do with my finance degree?” is to be realistic about your strengths and weaknesses. This assessment should include your hard skills and soft skills. At one point, you may even feel like you are a physiology major taking a personality test, because you will need to get intimate with yourself. That means, write down what are your strengths at work. Are you a quantitative or qualitative thinking person? Do you work well under pressure? Do you have a tough skin or easily swayed? Not all finance graduates become mortgage brokers. These types of questions will help you determine what kind of finance jobs and salaries will be a best fit for you.
Incorporated Fields
When you pursue an accounting degree, you will encounter so many other different, but related, fields. That is because their are many different fields that finance education can incorporate. A degree in finance will allow you to encounter accounting of course, in addition to learning about IRA recharacterization and small bits of investing fundamentals. It will also allow you to learn business in further depth. The best finance schools will also teach quite a bit about economics to finance majors. This wide breadth of experiences and educational opportunities is the reason why finance degrees are in such high demand. Finance degree graduates come out with abundant and diversified knowledge.
Highest Paying Jobs On The Market
Without a question, finance salaries can be some of the highest paying jobs on the market. Hedge funds, private equity firms and investment banks lure the most competitive job applicants to get a piece of the action. But, they operate with highly unique work environments that some people may find too intense or uncomfortable. Also, the culture within many of these banks are equally “unique” and should be carefully considered before diving in head first.
For example, would you fit into a company where 40% of your income depended on the performance of you versus your team members? If so, would you be able to handle daily competition? And, when the time came for bonuses, would you be prepared to end up on the short side of the stick? For most people, the answer is probably not.
So Many Options
But, there are many other options of what you can do with a finance degree. Graduates can find employment in corporate companies, financing companies and commercial banks. Here, you will find a wider variety of jobs that cater to an even broader range of skill sets. That means, you can work for companies outside the financial services industry, but still use your educational background. Or, you can work in different roles within the industry like selling unsecured business loans to start ups who are on the brink of the next innovative breakthrough. The possibilities are endless if you are willing to get creative.
The Most Sought After Opportunity
Okay, so it is clear that there are many, many lucrative opportunities for job seekers with a degree in finance. But what is the most desirable job available to those with a bachelors in accounting? If you want to make over six figures right from the onset, you are going to want to consider looking for a job as a financial manager. Financial managers average around $117,000 annually, which is nothing to snivel at. This need for this position is expected to grow as well, with job growth projected at around 7%. This position is typically responsible for the overall financial health of a business. If you want a lucrative opportunity fresh out of college, consider a position as a financial manager, CFO or controller.
So, do not limit yourself to anything. Stick to your strengths and weaknesses. Then, apply away and see where you can make the biggest impact with your intimate knowledge of credit card processing fees! What you can do with your finance degree will also depend on your persistence to go after the opportunities you want most.
