Selecting an academic major can be challenging. However, if you have a passion for numbers and analytical skills, you should consider obtaining a bachelor’s degree in finance. Whether you want to work in banking, insurance, or investment or establish a business, a finance degree can help you. It is a complex and ever-changing field, but that is what makes working in finance so intriguing!
Finance is a field that integrates accounting and economics to handle money on a personal, business, and public level. A finance degree will cover various financial management and analytical topics. As a finance major, you will learn how to use historical data to forecast future performance and how to communicate knowledge that will drive strategic improvements.
Many of your assignments will be project-based, they might be individual case studies to improve your problem-solving skills or group presentations to practice interacting with others.
Rudro Saha, who is doing a finance undergrad at a private university, shared, “Finance may seem complex, but by putting in the effort, it can be advantageous as it offers diverse career paths. Additionally, it enhances critical analysis and public speaking skills.”
“When I graduated with a finance and banking degree in 2013, I was very sceptical if I would ever land a good job in this competitive market,” said Mahbubur Rahman, a credit risk manager from a reputable non-bank financial institution in Bangladesh. “However, here I am! Even though it appeared like a difficult decision, I am positive I made the correct choice!” he added.
Coursework
In the first two years of your undergraduate programme, core business and general education courses are mostly what you will be offered. A wide range of perspectives and knowledge can be gained through humanities, business mathematics, social science classes, and essential business courses.
The skills you pick up in composition and public speaking classes will be useful throughout your undergraduate journey. The following are the kinds of coursework that are usually required in the final two years:
Financial Accounting: Understanding how companies record and report financial information.
Corporate Finance: Analysing how companies raise and manage capital.
Bank Management: Learning to balance the needs of depositors and borrowers while ensuring the bank’s profitability, safety, and adherence to regulations.
Insurance and Risk Management: Understanding different types of risk and designing insurance products to mitigate them.
Financial Modelling using Excel: Building digital models in Excel to forecast future financial performance, analyse investment opportunities, and make informed financial decisions.
Investments Theory: Learning to evaluate and invest in stocks, bonds, and other assets.
Financial Markets and Institutions: Exploring the workings of stock exchanges, banks, and other financial institutions.
Financial Mathematics and Statistics: Applying quantitative methods to financial analysis.
What do finance majors do?
- Chartered Financial Analyst: The CFA programme proves your dedication to superior portfolio management, ethical behaviour, and investment analysis. Roles in financial analysis, asset management, wealth management, and investment banking can be obtained with this internationally recognised accreditation.
- Chief Financial Officer: Oversee analysts and budgeting, make cost-related decisions about technology infrastructure and manage financial teams.
- Commercial Banker: Build relationships with businesses, providing financial products and services like loans, cash management, and trade finance.
- Loan Officer: Help consumers and small businesses secure loans and discuss loan options with clients.
- Financial Planner: Help corporations, individuals, and families develop plans to achieve their goals.
- Compliance Officer: Ensure companies adhere to financial regulations and industry standards. They stay updated on evolving regulations, conduct audits, and implement compliance programmes.
- Auditor: Review an organisation’s financial documents and accounting entries to ensure they comply with any applicable governmental regulations.
The Bottom line
Obtaining a bachelor’s degree in finance prepares you for conventional banking, investment, or insurance careers but also provides opportunities to specialise in exciting fields within the constantly evolving fintech industry. The analytical and problem-solving skills you acquire will be valuable assets in various fields. With the growing role of technology and new trends such as sustainable investing, a finance degree assures that you are ready for the future of finance. So, if you have a passion for numbers and enjoy solving puzzles, a finance degree can lay the foundation for a fulfilling career.