Finance Degrees: What Can You Do With a Finance Degree?

A finance degree can open doors to a wide range of exciting career paths in a dynamic and rewarding industry. Whether you’re drawn to the fast-paced world of investment banking or the strategic planning of a corporate finance role, a finance degree provides the foundation and skills you need to succeed.

Types of Finance Degrees

The finance world offers various degree levels to cater to your specific goals and interests. Here’s a closer look at the common types of finance degrees:

Bachelor’s Degree in Finance

A bachelor’s degree in finance is the typical entry point into the field. It lays the groundwork for a successful career in finance, providing you with the fundamental knowledge and skills needed.

Why Get a Bachelor’s Degree in Finance?

• Entry-level opportunities: Many entry-level positions in finance require a bachelor’s degree.
• Foundation for further education: A bachelor’s degree opens the door to pursue advanced degrees like a master’s in finance (MFin) or an MBA.

Master’s Degree in Finance (MFin)

An MFin is a specialized degree for those looking to deepen their knowledge in specific areas of finance, such as investment management, trading, or risk management.

Why Get a Master’s Degree in Finance?

• Competitive edge: An MFin sets you apart from candidates with only a bachelor’s degree.
• Advanced skills and knowledge: It equips you with specialized skills and knowledge to thrive in demanding finance roles.

Doctorate Degree in Finance (Ph.D.)

A Ph.D. in finance is designed for those interested in academic research or teaching positions in finance. It also opens doors to high-level roles in research-intensive organizations.

Why Get a Doctorate Degree in Finance?

• Research and teaching positions: A Ph.D. qualifies you for academic roles in finance.
• Expert-level knowledge: You gain advanced knowledge and research skills in specific finance areas.

Careers in Finance

A finance degree unlocks a multitude of career options with diverse specializations and earning potential. Here’s a glimpse into some popular finance careers:

Commercial Banking

Average Salary: $92,983

Commercial banking involves providing financial services to individuals and businesses, including savings accounts, checking accounts, and loans.

Investment Banking

Average Salary: $96,543

Investment banking is fast-paced and involves working with corporations and individuals on financial transactions like mergers, acquisitions, and securities offerings.

Financial Planner

Average Salary: $61,830

Financial planners guide individuals and families in creating financial plans for their future, encompassing investments, savings, and retirement.

Insurance Agent

Average Salary: $37,667

Insurance agents work in the insurance industry, helping clients assess their needs and secure appropriate insurance policies.

Public Accounting

Average Salary: $63,907

Public accountants work with individuals and corporations to maintain financial records, conduct audits, and prepare tax returns.

Hedge Fund Manager

Average Salary: $70,000

Hedge fund managers manage investment funds for wealthy investors, employing sophisticated strategies to generate returns.

Venture Capitalist

Average Salary: $92,406

Venture capitalists invest in emerging businesses and startups with the potential for high growth and returns.

Real Estate Agent

Average Salary: $59,180

Real estate agents assist individuals and businesses in buying, selling, and managing real estate properties.

Chief Financial Officer (CFO)

Average Salary: $128,468

CFOs are responsible for the financial health of an organization, overseeing financial planning, budgeting, and reporting.

Salaries for Finance Jobs

A finance degree often translates to a competitive salary, depending on your chosen specialization and experience.

Source: [Insert Source for Salary Data]

Skills for Finance Majors

A finance degree equips you with valuable skills to succeed in the finance industry:

• Accounting Qualifications/Certifications: CPA, CMA, CFA
• Interpersonal Skills: Communication, negotiation, teamwork
• Management Skills: Leadership, organization, delegation
• Communication Skills: Verbal, written, presentation
• Strong Problem-Solving Skills: Analytical thinking, critical thinking
• Financial Forecast Reporting: Budgeting, financial modeling
• Analytics Capabilities: Data analysis, statistical modeling
• Software Skills: Microsoft Excel, financial software
• Business Savvy: Market awareness, industry knowledge
• Innovative Skills: Adaptability, creativity, solution-oriented

Finance Degree and Career FAQs

Q: What is the difference between accounting and finance?

A: While both fields deal with financial matters, accounting focuses on recording, classifying, and summarizing financial transactions. Finance, on the other hand, focuses on the management of financial resources, including investment decisions, risk management, and capital budgeting.

Q: Can you get a CPA with a finance degree?

A: Yes, you can typically sit for the CPA exam with a finance degree. Some states may have specific course requirements that need to be fulfilled.

Q: How long does it take to get a degree in finance?

A: A bachelor’s degree in finance typically takes four years to complete.

Q: Is finance a BA or BS?

A: Finance degrees are usually awarded as a Bachelor of Science (BS).

Your GMercyU Path to a Degree in Finance

GMercyU’s Bachelor of Science in Finance degree program provides a solid foundation in financial principles and prepares you for a successful career in the dynamic finance industry.

Key Features:

• Specialized finance skills: Develop a strong understanding of money management, investments, and financial markets.
• Communication and leadership skills: Enhance your communication and leadership abilities for success in any finance role.
• 4+1 MBA Option: Earn both a Bachelor of Science in Finance and an MBA in just five years.

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Visit GMercyU’s Bachelor of Science in Finance page for more information.