In The Know: Pros and Cons of Finance Degrees
The field of finance is an ever-changing one, and the skills you learned in college may not be relevant when you graduate. However, a degree in finance can lead to many career opportunities. There has been a proliferation of finance degrees in recent years. This change comes as a result of more and more people recognizing the need for financial services professionals.
But what about those who don’t want to go into this field? Should they put their education on hold until they decide if it’s right for them? Or should they jump in without hesitating? In this article, we will discuss the pros and cons of getting a degree in finance so that you can decide if it’s right for your future! They include the following.
Pros of Finance Degrees
You Have Options
A degree in finance provides you with a lot of opportunities. You can choose to go into the public or private sector, and you have the option of working for a large corporation or an individual clientele.
There are so many financial services companies that need people with your skills! Employers are looking for employees to think critically, analyze data, and make sound judgments. So, if you have a degree in finance, you are sure to have the edge over the competition!
Professional Certification
There are a lot of certifications in the finance career. After completing your dissertation, you can choose to get a certificate in financial planning or accounting. Some students write independently, while others prefer paying for dissertation. The dissertation is a vital determinant of whether you will get a certification or not. If you have a degree in finance and become certified, there is no limit to the salary that you will get paid!
If you want to become an accountant or financial planner, there will be several exams that you need to pass to do so. These tests may include the Series 65 and Series 66 required by most states for CPAs! The Series 65 exam is required for life insurance agents, while the Series 66 test is needed to sell mutual funds.
In-Demand Skills
The job market is very competitive right now, and many employers are looking for people with specific skills. Students who get a degree in finance will come out of school with all the skills needed to work as an accountant or financial planner.
You can choose to go into public accounting if you want to be involved in auditing and tax work, or you can become a financial planner and help people save for their future. When you have a degree in finance, companies will come to your door and offer you high-paying jobs.
Personal Development
When you get a degree in finance, many benefits go along with it – personal growth is one of them! You’ll learn more about business management skills and how different financial transactions work. Graduates have a chance to expand their knowledge by taking classes on subjects like real estate, corporate finance, and statistics. So, if you choose to get an advanced degree in finance, many exciting opportunities await!
Room to Grow
A degree in finance also provides room to grow. As you gain experience in the workforce, you can move up the corporate ladder and take on more responsibilities. If you want to start your own business, a degree in finance will give you the skills you need to do so. You’ll have a good idea of how different financial transactions work, and this will provide you with the confidence that every entrepreneur needs!
Cons of Finance Degrees
Lack of Job Security
If you were to study finance, there would be a lot of changes over the years. Since we are in an economic crisis, jobs could become scarce. Some companies go under or move their headquarters overseas; they lay off all employees working at these locations. So, if your job is in finance, you may have to do a lot of searching for another one.
Training is Limited
Another drawback to getting a degree in finance is that it only teaches you the basics. You will learn how financial transactions are processed and what happens during different economic events. Still, this knowledge won’t be enough to work independently or for a company that does not rely on financial transactions. Since this degree can only take you so far if you want to work in different fields, it’s possible for someone else who has an advanced degree or two to outshine you.
Time Consuming and Expensive
One of the drawbacks of getting a finance degree is that it takes time and money. The coursework is challenging, and you’ll have to spend many hours in the library or do research online. In addition, most finance degrees cost a lot of money. So, if you’re not sure that this is the right degree for you, it’s best to explore all your options before making a decision.
Boring Career Path
Another point to consider is that the career path for someone in finance isn’t fascinating. If you’re not excited about working with numbers and financial transactions, it may be hard to stay motivated. There are other careers out there where your work will help people or make a difference; this is something you should seriously think about when getting a degree in finance.
Just as there are some drawbacks to getting a degree in finance, there are also many benefits. You’ll be able to get your foot in the door at different companies and start working right away! It is why you must know what type of job opportunities will be available after graduation.
