Is a Bachelor of Science in Finance Right for Me? (2024)

FAQs

Is a Bachelor of Science in Finance Right for Me? ›

If you are interested in solving problems in creative ways or helping companies to plan how to grow their revenue or maintain profitability, a finance major is right for you. A Bachelor of Science in Finance will help you develop multiple skillsets with a great outlook for success after your graduation.

High earning potential: Many jobs in finance offer high salaries and growth potential, making it a lucrative career choice. Diverse career opportunities: With a finance degree, you can work in various roles and industries, from investment banking to risk management to financial planning.

Understanding money is central to the finance major, so you should be detail-oriented and comfortable working with numbers. At the same time, work in finance also involves a lot of interaction with other people, so communication skills are also important.

Finance degrees are generally considered to be challenging. In a program like this, students gain exposure to new concepts, from financial lingo to mathematical problems, so there can be a learning curve.

The median annual wage for business and financial occupations is $46,310 higher than the median annual wage for all occupations. Drawbacks of a career in finance can include high stress, long working hours, continuing education requirements, and, in some cases, limited job stability.

Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators.

You don't need an MBA to work in finance, but the field is highly competitive, especially at the entry-level. Internships offer experience, exposure, and a tryout for a full-time gig.

Most finance programs require a minimum cumulative GPA of 2.0-3.0.

Is finance math heavy? ›

While finance requires some mathematics training and some knowledge and skills in accounting and economics, it's not necessarily more difficult than any other field of study, particularly for people with an aptitude for math.

These include: a history of missed payments or possible fraudulent activity on your file. the lender deciding you wouldn't be able to repay. not meeting a lender's specific terms and conditions, such as a minimum income level, or a mistake on your credit report – such as a typo in your address or other detail.

And ideally, it's about three to five years, said Matthew Warzel, a former recruiter who founded career counseling firm MJW Careers. For most industries, that range tends to be the sweet spot.

As of Apr 16, 2024, the average annual pay for the Finance Degree jobs category in California is $99,199 a year. Just in case you need a simple salary calculator, that works out to be approximately $47.69 an hour. This is the equivalent of $1,907/week or $8,266/month.

Salaries in the finance industry

According to the U.S. Bureau of Labor Statics (BLS), careers in finance pay a median salary of $76,850 — 66% higher than the median salary for all occupations in the nation ($46,310).

A career in finance can be very lucrative. The average salary for a finance major is $101,038. Pursuing a career as a financial advisor or another form of financial sales can go well beyond this number, whereas a career in corporate America or the government typically stays close to it.

Bachelor's in financial management: This degree prepares you to help individuals or small business owners manage their assets to prepare a plan for their financial future. With this degree, you can pursue a career in estate planning, health care planning, retirement saving and income planning.