why do you want to study finance
Finance is a field lush with great earning potential and rewarding career options in a wide range of industries. The field has seen large growth despite recent economic downturn, so it s a little more guaranteed than other fields. PThere are definitely more than five reasons why studying finance is a smart choice for potential students, butPwe ve compiled a list of the most pertinent reasons to help you decide which program of study is right for you! The reasons below touch on areas that are going to emphasize perks for the career-driven individual who is looking to implement exciting changes to their life in beneficial ways. 1. Narrow Focus
If you re interested in a business career then you have an array of college degree options such as business, accounting, or management. One great reason to become a finance major is because of it s more narrow focus, but it still allows you to explore a field that is dense with job opportunities. A finance degree allows you to work with the decision makers of outside organizations. Examples of these organizations include: banks, government agencies, stockholders, suppliers, businesses, and more. Being able to distinguish yourself with a finance degree will help you when searching for jobs, especially from a large number of business majors. As a finance degree is harder to attain, it s guaranteed to set you apart. 2. Personality Driven Anyone can get a business degree or do accounting, but in order to be in a finance career you must be outgoing and inquisitive. Though you ll need to be good at mathematics, you also must be good and talking with people and making friendly conversation on a variety of subjects.
Therefore education, intelligence, and personality are all taken into account for finance jobs. Additionally, you must be diplomatic and consider your organization s or client s goals, resources, and options when discussing their options for financial growth and well-being. 3. Growing Job Prospects According to, due to a growing range of financial products and the need for in-depth knowledge of geographic regions finance positions are growing faster than the average for employment in the United States. For example, careers in financial analysis are to grow by 23 percent, by 14 percent, and by 32 percent. The opportunities will continue to present themselves as the economy continues to recover. As a with any major, it s important to keep a focus on what it s like in the job market upon graduation and it s very fortunate that things look promising for those in this major. 4. Wide Variety of Job Opportunities As you can see above, finance careers are growing. This also means that the variety of careers opportunities are growing as well. With a finance degree you can work in: As well as many other financial intermediary companies all employ finance graduates. 5. Financially Rewarding Careers In addition to having a wide range of job opportunities, the jobs that present themselves to you will also be very rewarding from a salary standpoint. Salary information varies from job title and experience, but the following are a few baseline ideas of the average salary you can earn with a finance degree: : $64,750 : $103,910 : $74,350 : $74,940 The job market has underwent some large changes in the past decade, partly due to different technological innovations and partly because of the economy.
Finance majors are placed into a very fortunate position that keeps options available to continue to grow unhindered from many circumstances that have impacted others. Finance is probably the most all encompassing business field there is. P It literally takes into account all aspects of business. P Economics, Marketing, Productions, Accounting, Management, even information systems are all summarized and wrapped up in Finance. But enough about why to study it, what is it? What is Finance? Read what I said in a newsletter not too long ago when I was asked to describe what Finance is: P Finance is the most encompassing of all business enterprises. P To understand finance you must know about the entire business, indeed the entire economy. P So for a few minutes lets step back and pretend that we never took economics and are new to this earth. The Financial system (or the economy if you prefer) is composed of consumers, manufacturers, distributors. P These groups need money to purchase products and services. One way of looking at Finance is that Finance is that field of study that is responsible for getting the money to purchase these goods and services The purpose of the Financial System is to make sure that the money flows to those who value it the highest (that is those who can put it to the best use). Within the Financial profession there are traditionally 4 main areas of finance Corporate Finance Investments Financial Institutions International Finance BTW Here if you really feel like being contrary you might argue that personal finance is an additional area of finance and to that I would have to agree.
P But since the text that we were using the semester I wrote this said there are 4 main types, we ll live with that for now. P And anyways, who wants to be contrary. P We will look at all four areas (OK five if you insist) throughout the semester but will spend much of our time focusing on Corporate Finance because it is the most essential for anyone in business. P In fact it is sometimes called Business Finance Where does Finance fit within in a firm? Finance is generally seen as a staff position. P That is it does not directly produce anything but rather helps others produce things. P The head of the Finance Department is called a CFO (or VP of Finance). P (S)he reports directly to the CEO and is often the second highest paid person at the firm. The Finance Department is responsible with three main types of questions: Capital Budgeting which is a fancy way of saying what should we invest in? Obvious answer is in projects whose benefits exceed the costs. Capital Structure-this is how the firm should obtain the necessary money it needs to support its long term investments. P English translation is: how much debt and how much equity should the firm have and how (from whom) should the firm raise these monies from. Working Capital Management-This is more of the day-to-day operations at most firms. P It is concerned with short term assets and short term liabilities. P Examples of these issues include how much inventory to hold and whether to allow customers to buy on credit.
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