Should I Pursue a Finance Degree or an Accounting Degree?

A stable financial industry is integral to any economy’s survival. Banks, insurance companies, and other financial institutions operate smoothly providing a steady flow of fiscal services. In recent years, our economy has experienced major ups and downs, increasing the demand for financial experts and analysts. Technology is another sector that has boosted financial activity. Many professionals take on the path to establishing successful financial careers for themselves. From bankers to investment analysts and from financial advisors to personal wealth managers, a range of specialized finance occupations have emerged in today’s modern economy. 

Finance Education

To break into the finance industry, you need to have the right qualifications and credentials. As the demand for finance education has increased, so has availability of finance degree programs. Now you can pursue a career in this field at every post-secondary level of education, ranging from associate degree in finance to master’s degree in finance. When it comes to popularity and global recognition, MBA degrees in finance top the list. This program is pursued by thousands of individuals every year. Certificate programs in finance and diplomas are also gaining attention in the non degree category of academics. So now we can see that finance is one of the fastest growing educational trends of today. 

What you will learn with a finance degree basically depends upon the level of degree being earned. But generally, these programs are all geared towards equipping students with in-depth understanding of finance and management. Finance isn’t all just about numbers, but also takes into account management principles and financial strategic development. 

The curriculum of finance degrees comprises of quantitative courses, management courses, case studies, and specialization areas. By studying these subjects, students learn how to apply financial principles to real life business situations. Some of the major subjects one is most likely to study in a finance degree are mentioned below:

1. ·         Economics
2. ·         Accounting
3. ·         Financial risk management
4. ·         Derivatives
5. ·         Applied mathematics
6. ·         Investment analysis
7. ·         Managerial accounting

Online Education

Keeping in mind the technological advancements, high costs, and time issues students face nowadays, many institutes are now offering distant learning programs. Now students can study from any location without having to travel to campus based classes. Low costs and flexibility are the major benefits of online education. On the other hand, professionals who want to boost their career with a finance education can do so while being employed. One can earn a finance degree online and work full time side by side.

Finance Careers

A finance degree can get you working in the highly lucrative and challenging finance industry. The type of job you can qualify for will depend upon the level of degree you have earned, work experience, specialization area, and skill. Mentioned below are a few major finance careers one can pursue:

·         Banking

A bachelor degree in finance can get you into the banking industry where you can work as loan officers, account managers, corporate banker, or as an investment banker. Occupations in this sector can make you earn around $35,000 per year.

·         Accounting and Finance Planning

Many clients and businesses require the services of managers who help structure finance plans. In order for a business to remain financially stable, financial planning holds great value, demanding the need for financial planners. Such professionals can make over $100,000 per year depending upon their qualifications and skills. 

·         Investment and Stocks

The stock market is one of the biggest financial instruments every economy holds. Here a finance degree can get you working as a broker, financial planner, client advisor, or as an analyst. The pay scale for jobs in the stock market varies greatly.