Why Earning a Finance Degree in 2018 is a Good Decision
Are you thinking of continuing your education in finance in 2018? Here’s why you should earn a finance degree in 2018.
The financial industry is growing. It needs people like you who can solve problems, spot opportunities and create win-win scenarios for all involved.
If you love numbers and working with people, it provides endless opportunities for interesting and very rewarding careers.
This is why getting an online finance degree is such a great idea.
Let’s explore why 2018 should be the year you get your degree.
1) Money. Money. Money.
You’re into finance so we’ll start with a big one that you’ll appreciate — money-making potential.
Forbes lists the finance degree as one the top-earning master’s degrees.
Pay will depend on where you live and other factors, but as a national average, you can expect the following if you go into corporate finance:
- Starting Salary: Close to $70K
- Mid-Career: $120K+
If you’re called to a career that is more focused on finance & economic research, you can earn:
- Starting Salary: Close to $70K
- Mid-Career: Nearly $140K
If you put in the work and really hone your skills to advance your career, your top earning potential is virtually limitless regardless of the path you take.
But you know that money isn’t everything.
2) It Matches Your Personality
This may seem trivial. But people who excel in finance feel like it’s in their blood.
Is this you?
You Love Numbers & People
You appreciate how numbers, markets, and economies work. You’re drawn to the thrill of making million-dollar decisions. You appreciate the steadfastness of numbers but the unpredictability of the people who affect them.
You Want to Know Why
You’re highly inquisitive.
You want to know everything about everything. And you use this information to shape impactful decisions that can make or break your career. But that’s what you love about it.
You’re Calculated Yet Spontaneous
You think things out but you can also make a decision on the fly. When an opportunity presents itself, you’re already 10 steps ahead and ready to act.
You know where you’re going and you’ve got a plan to get there. Because of this, you see opportunities that others don’t see.
You’re Diplomatic at the Core
Diplomacy is a must in finance. Those who thrive can see the win-win in virtually any situation. You’ve got the skills of trust-building and persuasion to overcome doubters.
You’re a people-pleaser in a good way. You understand that just because one person wins, doesn’t mean someone else has to lose.
You’re a Problem-Solver
Employers need employees who don’t throw their hands up in the face of difficulty. That’s you.
You have an innate desire to solve problems. You always find the path to success despite the odds against them.
You’ve placed yourself in a variety of setting and learned about many businesses, industries, and cultures. You’re well-read and a life-long learner.
You logically apply this knowledge to see the whole picture, consider possibilities and make decisions.
You’re a Leader
You may think that you don’t lead so much as people follow. But that’s the sign of a true leader. You’re passionate and you know how to motivate others.
But you still just see yourself as part of the team, working toward your strengths and bring the best out in others.
No one has to force you out of the bed in the morning. You’d rather be learning and doing than wasting time playing games on your smartphone.
You’re self-motivated. You work hard and play hard. But whatever you’re doing, you give it your all.
3) You’re In Demand
The US Bureau of Labor Statistics expects finance to be one of the fastest growing industries over the next 10 years.
Financial Sector Growth Estimates
They anticipate that financial analyst positions will increase the most at 11%. Right behind them are financial specialists at 10%. And other financial services positions are expected to grow at 7%.
Financial advising is on the rise with an estimated growth of 14%.
Retirement to Have Huge Impact on the Industry
Baby Boomers are about 25% of the US population. Never before in history have we had the large a percentage of our population approaching retirement age.
As Boomers continue to retire in droves, over the next 5 years, many more vacancies will open up. This will create a void that must be filled.
A finance degree will put you in a position to meet market demand while advancing your career.
4) Variety Is the Spice of Life
If you go to school to be a brain surgeon, your job opportunities are a bit limited. You can’t just decide to take a job as a cardiologist or rheumatologist.
A finance degree is the exact opposite. The industry opportunities are almost limitless.
You could go into:
- Brokerage firms
- International financial management
- Corporate Finance
- Investment services
- Personal financial planning for individuals
- Financial Planning for Businesses
- Commercial & investment banking
- Insurance Finance
- Credit unions
- Hedge Funds
- Fraud Detection/Prevention
While these are all finance, each niche has its own unique and interesting aspects that you can explore to find the best fit for you.
Let’s take a closer look at just a few.
Someone who uses their finance degree to go into corporate finance will have the opportunity to help big corporations find, acquire and manage the capital they need to grow, enter new markets, reorganize, etc.
You must be able to do this while maximizing the value of the corporation and minimizing risk.
You’ll find yourself using all of your skills of:
If you use your finance degree to go into commercial banking, you’ll be working with the various financial services like:
You’ll help your organization make high-level decisions to protect both customer and bank interests.
Hedge Fund Management
In Hedge Fund Management you’re responsible for buying and selling large assets and various financial products. It’s a fast-paced and in some cases prestigious career that has a certain glamorous appeal to some.
In this role, you’d typically be managing client portfolios to maximize the returns on their investments and increase your own commissions at the same time.
If you really like to work with and help people with money, then being a financial planner is a great career choice. You might work with a young family.
You’d help them define their goals and organize their finances to make smarter budget decisions. You would help people start building wealth and planning for:
- A Rainy day
- School expenses
- Medical bills
Or you might work with a business leader who’s trying to get all of their ducks in a row for expansion into a new market.
Fraud Detection/ Prevention
If you love everything about finance but also wanted to be a private investigator when you were a kid, then fraud detection and prevention is a great move.
Financial institutions have to constantly be on the lookout for numbers that just don’t add up. Today fraud detection has expanded to include the many ways that organizations and individuals can get tricked online.
You’d work alongside powerful fraud-prevention analytics software to detect and investigate potential fraud activity.
You could be the one who helps spot fraud like this. Starting in 2013, a massive banking scheme allowed hackers to silently take over the banking operations of 100 banks. Undetected for months, they were able to slowly steal $1 billion from them.
Financial institutions around the world are looking for those with a finance degree and the skills to track fraud and help law enforcement bring criminals to justice.
International Financial Management
Managing finances in the global marketplace is a completely different kind of beast with huge appeal to a person who likes to be kept on their toes
You’re working with:
- Fluctuating currencies
- Various legal systems
- Country-specific financial rules
- Economic shifts
- Political upheaval.
Through it all, you get the opportunity to maximize a businesses returns in different global markets while managing and mitigating financial risk.
5) Never Boring
Sure. You can make it boring if you want to do so. You can settle for a nice quiet desk job. But at its core, a finance degree can propel you into a world of:
- Fast-paced decision-making
- Opportunities to travel… a lot
- Meeting lots of interesting people
- Working with a team
- Leading others
- Making money
- Creating scenarios where everyone wins
If you’re feeling stuck in a boring career that’s not going anywhere, getting a finance degree is your opportunity to work toward a more fulfilling job path.
2018 Is the Year to Get Your Finance Degree
In finance, you’ll find great opportunities making good money doing something that you really love. The industry is growing.
It needs people like you who love numbers and people. It needs people who can solve problems and make million and billion dollar decisions with confidence.
If you’re ready to explore your options and start pursuing a more rewarding career in finance, it’s time to get your degree. We can help. Find out how here.