Across the globe, the demand for knowledgeable finance professionals continues to rise—particularly as individuals and organizations face a growing range of financial challenges and unique situations.
If you’ve been thinking about a career in finance, now is a great time to pursue the formal education you need to thrive in this dynamic field. Specifically, a finance bachelor’s degree offers the foundational education and skills necessary to pursue a range of finance-related career paths. What can you do with a finance degree, exactly, and what kind of competencies will you gain through the experience? We detail this and more below.
Is a Finance Degree Worth It?
If you’re serious about working in the field of finance, then having a bachelor’s degree in finance is absolutely worth it. This is especially true when you consider that many of the jobs available in finance require a minimum of a bachelor’s degree in a related field.
Typically, a bachelor’s in finance program consists of about 120 credit hours, which are broken up into major courses, general education courses, business requirements, and more. Most of these programs are set up to take around four years to complete (depending on enrollment status). Ideally, a finance degree program will also incorporate hands-on work experience in the field.
Core Subjects Covered
The exact subjects and topics covered in an undergraduate finance degree program will vary from one school to the next. However, some basic concepts and topics should be covered in a finance curriculum, including:
- Financial accounting, covering topics related to the accounting cycle, financial statement components, marginal analysis, cost measurement and allocation, and more.
- Financial analysis, which explores techniques for evaluating income statements, balance sheets, and other financial data to make economic decisions.
- Investment management, which helps students assess investment alternatives through principles of diversification, risk/reward models, and more.
- Risk management, which deals with plans for managing risk and uncertain outcomes for individuals and organizations.
- Financial markets, which examines factors like financial capital, pricing mechanisms, and interest rates within the modern market landscape.
- Financial planning, which delves into investment portfolio strategies based on resources available to meet realistic financial goals.
Skills Acquired with a Finance Degree
Students in a finance degree program also have the opportunity to acquire practical skills they can put to work in their future careers. This includes not just technical skills but also analytical and soft skills that are valuable in the finance world.
Technical Skills
Those working in finance must possess a range of technical skills (also known as hard skills) that are unique to finance. Examples of the kinds of technical skills you might expect to acquire from a bachelor’s degree in finance program include:
- Financial reporting
- Proficiency with commonly used financial software and tools
- Understanding of financial regulations and compliance requirements
Analytical Skills
Meanwhile, financial professionals must be masters of analytics as they sift through large amounts of financial data. Some specific analytic skills a finance degree program may focus on include:
- Data analysis and interpretation
- Risk assessment and management
- Problem-solving and decision-making
- Use of data analysis and reporting software and tools
Soft Skills
Many roles in finance also demand basic soft skills, especially when it comes to working with others. Essential soft skills in the finance world include:
- Verbal and written communication
- Presentation and public speaking
- Leadership, teamwork, and collaboration
- Ethical decision-making
- Cultural competence
7 Benefits of a Finance Degree
A bachelor’s degree in finance offers numerous advantages to those wanting to pursue careers in various areas of finance. Ultimately, a formal undergraduate degree program can equip you with the skills and knowledge to find success in your future career while building the foundation for an advanced degree down the road.
1. Comprehensive Financial Knowledge
Students in a finance bachelor’s degree program can gain a deep understanding of core financial principles used by professionals in the field on a daily basis. This includes key financial concepts and topics such as financial analysis, investment strategy, and risk management.
In addition, students in this type of program have the opportunity to learn about different financial markets and tools used in the real world, from stocks and bonds to derivatives and more.
2. Career Opportunities and Advancement
Having a degree in a field like finance also opens up an extensive range of career opportunities in areas like corporate finance, financial planning, banking, real estate, and insurance. In this sense, a bachelor’s degree in finance allows you to pursue your specific interests and even make career pivots as you see fit later in life.
In terms of career advancement, having a bachelor’s degree in finance can also set you up for exciting opportunities to move into senior management, executive roles, and other lucrative positions as you gain additional experience and skills.
3. High Earning Potential
Compared to other fields, finance professionals often enjoy higher-than-average starting salaries and greater earning potential down the road. Not to mention, many financial roles offer performance-based bonuses, incentives, and other perks that can enhance compensation potential.
4. Practical Skill Development
Students in a finance degree program have the opportunity to develop and strengthen their analytical and critical thinking skills, both of which are key to making informed financial decisions. Many finance degree programs teach students how to utilize the most popular financial software and tools, too, so they can enter the job market with confidence and proficiency in leveraging these resources.
5. Professional Certifications and Credentials
Many financial professionals who want to advance their careers end up pursuing additional certifications, degrees, and other credentials later in life. A bachelor’s degree in finance helps establish skills and knowledge that can prepare students for such prestigious certifications as:
- Chartered Financial Analyst (CFA)
- Certified Financial Planner (CFP)
- Financial Risk Manager (FRM)
Holding these types of certifications and designations can enhance credibility and marketability in the finance industry, making candidates more competitive as they seek to advance their careers. Meanwhile, a bachelor’s degree in finance can lay an excellent foundation for a master’s degree or other advanced degree in finance or a related field. This, in turn, could open even more doors of opportunity for career advancement and professional development.
6. Global Career Opportunities
Graduates with bachelor’s degrees in finance can find a number of exciting work opportunities right here in the United States—but there’s no reason you can’t explore global career opportunities as well. With the knowledge of international finance principles acquired from a bachelor’s degree program in finance, you may be better prepared for career opportunities in global financial markets or multinational corporations. Many finance degree programs aim specifically to expose students to global finance trends and practices, including cultural competence and adaptability, to prepare them for success in diverse work environments after graduation.
7. Entrepreneurial Skills and Opportunities
In a bachelor’s degree program in finance, students can also gain a solid understanding of business operations and general financial management. These important concepts can be applied to future entrepreneurial ventures that you may embark on after graduation. If you have dreams of someday launching your own business, a background in finance can help you make more educated and confident business decisions while setting you up for more sustainable success.
What Can You Do with a Finance Degree?
The benefits of a finance degree are clear. However, if you’re still not sure whether a finance degree is right for you, start exploring some of the various sectors you could enter with a bachelor’s degree in finance:
- Corporate finance encompasses roles as a financial analyst, treasury analyst, or possibly a financial manager (though some companies may prefer management candidates with a master’s degree).
- Investment banking encompasses roles as an investment banking analyst, banking associate, or portfolio manager.
- Financial planning and wealth management encompasses roles as a personal financial planner, business financial planner, wealth manager, or investment advisor.
- Commercial banking encompasses roles as a loan officer, credit analyst, or branch manager.
- Risk management and insurance encompasses roles as a risk analyst, insurance underwriter, or risk manager.
- Real estate finance encompasses roles as a real estate analyst, mortgage broker, or property manager.
Start Your Bachelor’s Degree in Finance
Whether you’re interested in a career in corporate finance, commercial banking, financial planning, or just about any other finance-related role, having a bachelor’s in finance could help you qualify for relevant job opportunities. Plus, this education provides the foundation needed to pursue an advanced degree down the road, should you choose to take that path.
Baker College is proud to offer a bachelor’s degree in finance that can be completed in an average of just four years, allowing you to build upon financial theory while applying relevant skills to work in banking, financial planning, and more. Plus, this program is offered entirely online, so you can enjoy the flexibility and versatility of the ability to study and work at your own pace.Get in touch to learn more about a bachelor’s degree in finance from Baker College, or fill out your online application for enrollment today!