Folks looking to improve their spending and saving skills can access an assortment of tools and resources for achieving this end. Reading articles on credit and debt management is one way to do this. However, it’s safe to say nothing beats a traditional four-year undergraduate education when it comes to acquiring knowledge and experience in a particular subject matter. Finance is no exception.
Furthermore, choosing to major in finance can lead to a number of high-paying in-demand career opportunities. Before getting started, however, it’s important to highlight what makes a well-rounded undergraduate finance program. Universities offering degrees in finance are expected to help students prepare for a series of professions. To that end, a good BS in finance program will include the following courses, among others:
-Principles of Accounting I, II
-Principles of Marketing
-Principles of Finance
These courses, plus several others, are designed to introduce individuals to the wide and multifaceted world of money. The benefits of being educated in the ways of finance are felt immediately, often through improved spending habits and calculated savings strategies.
That’s all well and good, but what about job prospects? Here are just a few of the many careers made possible thanks in part to a degree in finance:
The job of a financial analyst is to draw conclusions about a company’s investments and financial status by amassing and making sense out of data. An analyst will then make recommendations for how to improve upon the findings. This could mean devising and enforcing new policies, correcting poorly entered data, or simply shopping around for better accounting applications. Financial analysts earn a median income of around $78,000 annually.
A the job of a financial advisor is pretty much self-explanatory. Responsibilities revolve around helping clients to better manage their finances. This includes designing budgets, educating individuals on investing and taxes, and solidifying their retirement and personal savings goals. Good financial advisors are ones with the patience and aptitude to explain complex concepts to their clients. If successful in this manner a financial advisor can earn around $81,000 a year.
Similar to financial analysts, accountants are tasked with monitoring the money flow of a financial entity to find errors and suggest changes. The difference is that, unlike analysts who are expected to make sense of a big picture, accountants are responsible for keeping tabs on the daily numbers and catching discrepancies as soon as possible. Additionally, accountants play a central role in managing tax burden. The reward is a median annual income of roughly $65,000.
Many people think of accountants and auditors as being interchangeable. In many ways, they are a lot alike but an auditor is basically the accountant of the accountant. He or she must overview the financial statements and money trails to confirm everything adds up correctly. The typical pay for an auditor is identical to accounting – around $65,000 per year.
If money is tight and nothing seems to help get your head above water it may be time to consider earning a degree in finance. For one, it provides the tools and information necessary to lead a more financially stable life. More importantly, perhaps, it qualifies the graduate for a number of high-paying career paths.