Benefits of studying Finance

When one is entering college, the most important decision one has to make is deciding what field of study they want to pursue. If you choose a business with a major in finance, it will not only benefit you in acquiring a job but will also provide you with knowledge that you need to obtain a career in these areas. Studying finance, you will learn how to fund your money properly. You will have knowledge on how to invest your money wisely and save it and you won’t need to pay a financial advisor to do so. Companies worldwide are looking for the applicants with a finance background. Studying finance is not only a beneficial significant to obtain a desirable job, but it will also benefit your personal life for investing money, saving for education and your retirement.

If you are looking to enroll in an undergraduate finance program, you are most likely to graduate with a bachelor of science in finance or bachelor’s degree in business administration. It takes at least four years to complete a bachelor’s degree programs. The topic of the courses are such as:

• Corporate financial management
• Banking
• Principles of Finance
• Managerial accounting
• Macroeconomics and microeconomics
• Investments
• International business and finance

Here in this article, we will be discussing few good reasons to study finance that can benefit you in the long run.

• CAREER OPTIONS

If you are doing a degree in finance, you will be qualified for many entry-level profiles in business and the government. Depends on your experience and interest, you can choose to chase a career in financial analysis, accounting, economics, real estate, investment banking or entrepreneurship. You will be working with bonds, stocks, mutual funds, and other investments, if you choose a career as a financial analyst or financial sales agent.  As a financial manager or economist, you will be working for researching tax laws, studying global market trends and preparing individuals financial reports.

• HIGH SALARY

If you wish to enter a finance related field, you may earn a remunerative salary, even at an entry level.  According to the reports of Bureau of Labor Statistics (BLS), the financial analyst makes an average income of $80,310 per year and $38.61 per hour as of 2015.  The budget analyst makes on average $ 71,590 annually and $34, 42 per hour.  The loan officers earn on average of $ 63,430 annually and $30,49 per hour. The cost estimators make on average of $ 60,390 annually and $29.03 per hour. While securities, commodities and financial service sales agents make on average $71,550 per year and $34, 40 per hour.  Keep in mind though that entry level pay might not match these proportions.

• START OWN BUSINESS

When you study finance, you get to learn how a company works. You will have an idea on how to seek to fund, make a budget, and calculate the length of time before you will make a profit.  Instead of making decisions blindly, you will have a better understanding of the type of risks to take and when to take them, depending on the state of the economy. With this knowledge, you are entitled to take control of your career and financial future.

• ABROAD OPPORTUNITIES

Business is a global enterprise so it would be imbecile for finance education providers not to reflect this fact. As the language of finance is mostly the same around the world, different sectors are open to you. You can get many opportunities to travel and work wherever you go. A year abroad will provide you with an experience of other cultures and language skills and an in-depth understanding of the global economy.

There may be many degrees like medical or law that allows you with the best income and helps you make a lot of money, but finance degree is the one that will help you build much more wealth. You will have knowledge of how to budget your money and make benefit of all the available tax breaks. You can make most of the advantages from a finance degree.

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