Is a Finance Degree Right For?

31st January 2019
Categories: Accountancy, Blog

A college degree is usually the first and biggest investment that teenagers make, which makes it logical to think “Is Finance Degree Worth It?” To find out if a finance degree is “worth it”, there are many things to consider, such as the benefits of pursuing a finance degree, and how a finance degree can help you, career growth with a finance degree and versatility of the degree. Without proceeding further, a finance degree is definitely worth it!

Finance is one of the eminent subjects for providing students with both amazing graduate job opportunities and high earning potential. If you want to study finance, there is a wide range of careers you can choose after completing and getting the finance degree, with finance graduates sought-after for roles in investment banking, accountancy firms, management consultancy, insurance companies, public sector, and other fields.

9 Reasons to Study Finance Degree

If you want an outstanding mastery of money, pursuing a degree in Accounting and Finance from a reputable college could be one of the best ways to acquire it. Finance is a field blooming with rewarding career opportunities and great earning potentials in a wide range of sectors. Over time, this field has seen significant growth regardless of the recent economic downturn that is why it is a little more fail-safe and secure than other fields. There are certainly more than the below-mentioned reasons why studying Accounting and Finance is a smart option for potential students, but we have listed down the most important reasons why choose a Finance Degree—

Narrow Focus: If you are planning to make your career in the business field, you get many degrees program options, like accounting, business, marketing, or management. One of the reasons to choose the Finance Degree is because of its extra narrow focus, but it still enables finance graduates to explore a field that is full of job opportunities. This degree lets you work with decision-makers of outside organizations such as— government agencies, banks, businesses, suppliers, stockholders, and more. Being able to differentiate yourself with a degree in finance will help you when looking for jobs, especially from a huge number of business majors. Since Finance Degree is quite hard to achieve, it is certain to help you stand out of the crowd.

Personality Driven: Anyone can do accounting or get a business degree, but to make a career in finance you must be inquisitive and outgoing. While you have to be extremely good in mathematics at the same time you must have outstanding communication skills and the ability to engage in conversations on a variety of subjects. Therefore, intelligence, personality, and education are all considered for finance jobs. Furthermore, you must be diplomatic and consider your client’s or company’s objectives, resources, and opportunities when analyzing their options for financial development and safety.

Become a Better Investor: Pursuing a finance qualification will help you become a better investor. If you are new to investing world, you will learn about the importance of right investment. You will understand when the right time is and what you need to make a good, profitable investment. During the course, you will study investment-related topics that will give you in-depth knowledge and understanding about investing. You will gain a lot of knowledge on how to become a smart investor by making smart investments.

Problem Solver: If you are not the problem-solving type of person, you will become one by pursuing this degree. As a finance professional, you will cope with problem-solving matters on a daily basis— from negotiating a great deal to deciding the best finance solution. Having critical thinking and problem-solving skills will make you stand out from the crowd, and make you noticed by employers. You could be inventive when sorting out specific problems as they don’t necessarily need only a technical insight into the issue. As a finance graduate, you will be taught to adapt these skills as you will need them in the future.

Career Opportunities: A finance degree will equip you for a wide range of career opportunities— all sectors that will value financial knowledge. Employment opportunities are always on the rise, too, with a large amount of growth expected in finance-related fields in the coming future. You can literally work in any industry. Studying accounting and finance, you will have to record, interpret, classify, summarize and share the financial information about an organization. You can employ this to any business, in any sector, field, industry— you name it. Better still, you will get opportunities to work across different industries.

Financially Rewarding Career: Graduates equipped with an accounting and finance degree can pick from various careers options. Apart from having so many job opportunities, the jobs that present themselves to you will also be very much satisfying from a salary perspective. In the finance field, salaries vary from job title and work experience. Whatever the career, finance graduates will be always a highly esteemed member of the team, offering specialized financial services that businesses always require.

Networking Potential: As a windfall for almost any degree program, networking potential on a finance degree from a recognized college is principally helpful, offering you connections that will let you go ahead in today’s business world and get access to financial information and advice beyond your own field of proficiency.

A Real Understanding of the Way How Money Works: If you want to do proper planning of your budget, saving money, and building assets, there can be no better way than getting a sound foundation in the skills required than through proper education in finance. A strong understanding of the principles of economics, finance, and taxation is very crucial in order to get ahead in ways that any tips and tricks of the world won’t manage, whether you are making a deal or just hunting for a better credit deal in your personal life. Moreover, you will also acquire an in-depth understanding of the global financial market, letting you keep an eye on the economy and identify trends that may impact you. It means that your expertise and skills can take you anywhere in the world you want to.

Real-Life Application: Finance degree usually needs a highly hands-on approach, meaning we ensure our students learn by doing. Students benefit from real-life potentials to handle business accounts. Many Accounting and Finance Degree courses have optional placement years, and with a year of work experience in the sector, you will definitely leave equipped for the rigors of professional life.

Skills That Will Help You Earn Finance Degree Successfully

Studying finance is both challenging and rewarding, and when preparing to do so, it is crucial to analyze your skill set and understand whether this degree is good for you. You should ask yourself— what types of skills should I have to be successful when pursuing a finance degree? Are they acquired or inherited? Can I get better at these skills through time?

We have mentioned most common skills that will help you when pursuing a finance degree—

Formal Qualifications: When considering a career in finance, there are some things that can help set you apart from the rest. Though in some industries, a good personality and hands-on experience can be enough to get you through the door of opportunities, finance demands a little more paperwork. Because painstaking standards and processes rule the industry, formal professional qualifications in finance are required. Mont Rose College offers a range of different courses to get you capable for a career in the finance sector.

Problem-Solving Skills: No two days are the same when working in finance. While it is crucial to have ample knowledge of processes and systems, it is also vital to have the relevant skills to deal with difficult problems as and when they occur. Whether it is tackling the financial problem of a business or managing a client’s tax dilemma, employers depend on employees that will get through at challenging times. A good, skillful finance candidate takes action to get the best solutions.

Mathematical Skills: Mathematical skills are very important and helpful in many areas of finance, especially when working with graphical and numerical information, drawing conclusions and justifying your conclusions. In fact, there’s no surprise that mathematical skills are usually highly looked after for positions in actuarial and accountancy work. However, they are also essential to anyone involved in financial analysis, in which number crunchers have to combine contextual and statistical information to provide an organization a clear picture of their finances.

Analytical Skills: Analytical thinking means considering a situation precisely, understanding the way it works, and elucidating what it means, and then coming up with a reflective, quick response. This is a very important skill a finance graduate must have because you will have to be experienced inconsistency and putting emotion out of the way to get through with an acceptable solution.

Decisiveness: Most of the financial roles demands professional to make big decisions in a timely manner. Decisions are based on a combination of research performed by a team, the financier’s predictions for the future of an investment, gut sense, and utter luck. The ability to make well-versed decisions rapidly is a skill that is highly required in the finance sector.

Technologically Savvy: Today, modern technology has made it much easier and faster to discover, organize and process the bulk of information essential to work in accounting and finance. Technological evolutions have made waves in the financial sector. They have significantly streamlined the time-consuming processes a breeze, but they have also enhanced the productivity and speed in the majority of business practices. If you carefully keep yourself updated, you will be in a good position to succeed.

A Desire to Innovate: Though a career in the finance industry may be traditionally linked with systems and routines, that doesn’t mean there’s no place for modernization and innovation. Productivity steers this industry, always searching for new ways to attain and complete things. Your innovation and modernism can simplify processes to accuracy and speed, assisting to save money and time within your organization. All these efforts will assist your career in leaps and bounds, showing that you are regularly motivating yourself to think outside the box.

Relationship Management Skills: When people come to you it is because they have money issues. To get successful in a financial professional, you must have a level of professionalism and sensitivity in your relationships. This comes with the area, and also your capability to identify with different personality types. Clients look for an unbiased advisor who can still remain responsive, understanding their requirements, and helping in financial decisions. You must enquire the right questions, work to sort out the dispute, as well as persistently educating and counseling clients.

Leadership Skills: The most respected and in-demand financial professional are those that drive themselves forward through motivation and leadership. Even entry-level financial jobs need a good level of leadership. Everything you do lays a foundation for those around you. From leading team activities to general project management— these can set you apart from the others.

Why Study Accounting and Finance Degree?

The degree program is ideal for those who want to pursue a career in accountancy, consulting, or financial services. Graduates of this degree will be capable to use financial information and accounting statements to help in decision-making. The course includes theory and practices involved in risk management, financial accounting, business valuations, capital management, acquisitions, and mergers which are all of prime concern to a corporate manager. The course at MRC offers a strong foundation in accounting and finance especially for those who are looking to pursue professional qualifications or an academic study in a related range of subjects after graduation.

On successful completion of your degree program in finance, you can get the opportunity to work in corporate finance management, international financial management, insurance companies, investment banks, private banks, financial planning firms, brokerage firms, and much more. While are pointing out some particular sectors, your opportunities in real-life can be even more adaptable because a financial expert never sits idle.

The best part about studying finance degree is the fact that whatever you will study and the skills you will get during the course will significantly help you in your career for the lifetime, no matter what career you choose to pursue afterward. Even if you are planning to start your own business, you will be probably more successful than most people around you.

2019 Is the Year to Get Your Finance Degree

In the finance field, you’ll find amazing opportunities to make good money by doing something that you are really passionate about. The finance industry is growing. It needs people who like numbers and helping people. It needs people who are good problem-solver and make billion-dollar decisions with confidence.

If you’re ready to explore your options and choose to study for a more rewarding career in finance, it’s time to get your degree. We are here to help you.

So, Is A Finance Degree Worth It?

When all’s said and done, only you can decide whether a finance degree is worth your effort, time, and money. If you are mesmerized by the world of finance and can imagine yourself booming in this industry, then you should eagerly consider enrolling in a finance degree program.

No matter which finance profession comforts you, a professional qualification is a smart investment toward your career.