Table of Contents Hide
- The jobs you can be offered with an education in finance
- 1. Fintech business analyst
- 2. Analysts of Impact investing
- 3. Financial analyst
- 4. Commercial banker
- 5. Grants analyst
- 6. Financial advisor
- 7. Auditors and accountants
- Why get a finance degree?
- A bachelor’s level degree is required in financial studies.
- A master’s level degree in finance
- Earning your finance degree online
- Beginning to get into finance.
As a finance professional, you’ll ensure that companies, as well as nonprofit organizations, operate efficiently and ethically, as well as aid individuals in achieving their goals. Here are seven careers that financial education can help you prepare for.
Finance doesn’t need to be about money; many people do not need it to be. A study by the consulting firm Deloitte discovered that younger Gen Z generation people are more likely to choose to work in a place aligned with their ideals than prior generations. How we think about society and technology has advanced, and so has the field of finance. What exactly does a financial career in the 21st century appear like?
The jobs you can be offered with an education in finance
Here are the career options in finance that are expected to be viable into the 21st century and beyond, as new technology and changing values cause changes. The salaries listed are the typical base salaries based on Glassdoor data as of May 2021, except when specified otherwise.
Remember that bonuses and commissions for certain professionals in finance can be as high as the hundreds of thousands. They are not included in the salary base, which is provided below.
1. Fintech business analyst
Innovations in technology and growing consumer demand for transparency have led firms in financial technology — also known as fintech — to experience massive growth in the 21st century. Fintech is a broad range of products but generally is a term used to describe technologies that help automate and streamline financial services. Fintech companies may offer consumers services like digital banking and business loans or collaborate alongside traditional banks to improve their processes.
Fintech firms often seek business analysts who understand the financial industry well. If you’re looking to get into fintech, having some knowledge of data analysis could provide you with an edge.
- The average salary for Business Analysts: is $75,436
2. Analysts of Impact investing
Impact investing, as well as the closely-related socially responsible investment (SRI), is gaining popularity as a method of investing where investors decide to invest their money in projects or companies which align with their ideals. Investors in these areas could look through portfolios for companies considered socially harmful by their customers or actively search for companies striving to resolve a social issue.
Analysts could work for firms which focus on responsible investment or in the department of Impact investing within traditional financial institutions like mutual funds or banks. The field has grown quickly in the last few years. The assets under management for Impact investing almost doubled from 52 billion dollars in 2016 to 98 trillion USD by 2020, per an assessment conducted by the Global Impact Investing Network.
- The average salary for Impact investing analysts is $69,350
3. Financial analyst
Financial analysts analyze information to assist investors in making informed decision-making. Analysts with financial backgrounds may work for large investment firms such as banks or companies to discover new investments or business opportunities. In the role of a Financial Analyst, you’ll be able to study large-picture events like trends in the market and the movement of competitors and develop models to forecast the results of business choices.
Financial analysts are a key part of the equation in many sectors such as biotech, media, and information technology. This makes it a flexible career path that will take you into exciting and expanding sectors. The US Bureau of Labor Statistics (BLS) states that employment for a financial analysts is projected to increase by five per cent from 2019 to 2029.
- The average wage for financial analysts is $72,303
4. Commercial banker
The business of commercial banking has undergone major changes in recent years, embracing digital technology to enhance its services while also adapting to new Fintech players. Commercial bankers are a vital part of communities. They are the gatekeepers for financial services like business mortgages or loans. Commercial bankers play an integral part in the economic well-being of communities.
As a bank relation manager, loan agent, and development agent, you’ll be working with customers to evaluate their financial needs and recommend suitable solutions. If you’re interested in how finance impacts the daily people around you, commercial banking remains a vital part of the financial world.
- Relationship manager average salary: $63,996
5. Grants analyst
Grants analysts aid nonprofits with managing their finances through budget planning, ensuring compliance, and identifying trends in making decisions. Because nonprofits are distinct legal entities from companies, they require a special understanding of the accounting practices of nonprofit organizations.
The number of nonprofit organizations is increasing. A report for 2020 released by the Urban Center found that the number of nonprofits registered in the US was up by 5 per cent between 2006 and 2016 — while the total value of assets and revenues grew approximately 30 per cent over the same period.
- The average salary for Grants Analysts: is $55,789
6. Financial advisor
An advisor or financial planner advises clients to help them meet their short- and long-term goals. A financial advisor could advise the client about how they can structure their investment portfolio or develop a plan to fund a child’s college education. Advisors with a track record of clients or good reputations could be able to create their schedules in the later stages of their careers.
Personal finance advice is a lucrative career and offers plenty of in-person meetings and the opportunity to guide people through the murky business. The prospects for this job are good; the employment opportunities for financial advisors specializing in personal finance in the US are projected to increase by four per cent between 2019-2029, According to BLS.
- Financial advisor average salary: $56,940
7. Auditors and accountants
Auditors and accountants ensure that the company’s financials are correct and in compliance with the laws and regulations. A certified accountant may also prepare tax returns or financial statements. Auditors and accountants may work in-house in a firm or with an accounting firm that offers customers services.
Accounting professionals are required in every field, including health care, government, and entertainment. This flexibility should make accounting an option for a stable career, even though factors such as technological advancement or the state of the economy could alter the landscape of certain industries. Accounting and auditing jobs are expected to grow by four per cent between the years 2019 and 2029 across the US, according to the BLS notes.
- Auditor average salary: $58,601
Why get a finance degree?
A finance degree will provide students with a solid understanding of statistics, accounting and economics and will prepare them for a profession managing money in different ways. Finance is a crucial element of almost every private or public sector business. This makes the field fun and is always in high demand across various sectors.
Studying finance may lead to career opportunities that provide huge financial benefits, but it’s not the only benefit. The power of finance is in the banks. Banks can offer crucial loans to entrepreneurs with small businesses. Financial planners can make plans for families with young children to save for college, and investing smartly allows individuals to retire without worries. When handled properly, finance can be influential in fostering development, prosperity, and social benefit.
- Financial degrees: Bachelor’s, master’s, and online degree
A bachelor’s level degree is required in financial studies.
The bachelor’s level in finance, or a closely related area, is the primary step to various finance-related careers. Finance courses for undergraduates generally include courses in accounting, introductory macroeconomics, microeconomics, and statistics. Certain programs might require calculus or other mathematical concepts.
A master’s level degree in finance
A master’s degree in finance will help you understand the basics of finance. It could include financial modelling, pricing theory, data analytics, and ethical financial practices. A master’s degree in finance may not be necessary to be employed in entry-level positions. However, it could boost your earnings and prepare you for management jobs that require a greater understanding of financial concepts. A Master of Business Administration (MBA) will help you prepare for finance-related careers.
Earning your finance degree online
Finance degrees’ quantitative and analytical character ensures they are well suited to online learning. The online finance degree comes with other advantages. They are generally less expensive than a traditional college education and offer flexible schedules. This is why they are popular with students looking to work full or part-time or with family commitments.
The online courses that focus on specific skills, such as accounting or financial modelling–are available to improve your skills without having to commit to a full degree.
Beginning to get into finance.
The evolving landscape of finance has opened up several new opportunities within the field. If you go with a conventional or innovative path to follow the field of finance, it is rewarding and can contribute to making this world even better.