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Finance

Academicians’ Advice for Those Willing to Enter the Finance Field

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The benefit of earning a finance degree is the myriad of career options that await you in the future. All you have to rely on is your education and experience, and your opportunities will keep on increasing. But the basis of the finance industry depends upon three sectors:

  • Corporate
  • Public
  • Personal

These sectors are responsible for financial planning and overall finance vitality around the globe. Your first step in unlocking all these opportunities is to get a degree in finance. Before we dive deeper into what the finance industry has in store for you, let us discuss the types of finance degrees.

TYPES OF FINANCE DEGREES:

You can pursue different degrees according to your interest if you want to enter the finance industry. For example, a bachelor’s degree in finance is best for entry-level jobs in the finance industry.

You can pursue different degrees according to your interest if you want to enter the finance industry. For example, a bachelor’s degree in finance is best for entry-level jobs in the finance industry.

1.Bachelor’s degree in finance 

This degree is four years long, and it teaches you all the basics you need to know to work in an entry-level job.

Apart from teaching you about the subject, a bachelor’s degree in finance also polishes your analytical skills and teaches you communication skills. Both of which are very valuable in the field.

2. Master’s degree in finance 

A master’s degree is your next level after a bachelor’s degree. This degree spans two to three years, and you get to learn all the fundamental concepts of your degree in depth.

 It’s your time to choose a specialized area in your field and learn more about it. For example, you are not restricted to get only a master’s in finance. You can also do an online master of accountancy and specialize in that field.

3. Doctorate in finance

Finally, if you gain a doctorate, you are eligible to become a researcher or an instructor. Apart from that, you are officially suitable for almost all finance-related positions in the world. A finance doctorate takes about five years to complete, and you can get  it after your master’s degree.

Now that we have a clear concept about the educational path you need to follow, here are some pieces of advice academicians have for you.

Prepare before you graduate 

Your preparation starts when you graduate from high school. You will have to choose between appropriate degrees that can give you access to a career in finance.

 Apart from that, you can take advantage of some financial-planning programs on graduate and undergraduate levels. These programs can help you get a basic concept of many topics not included in other programs.

For example, you will get to learn about consumer rights, the psychology of financial investments, retirement and taxes, investments and insurance, etc. So choosing a broader field will allow you to choose from more options in your career life. So when you prepare beforehand, you can do so by selecting extracurricular activities.

Extracurricular activities 

You need to have a good resume if you want to find a job as soon as you graduate. To prepare for that, you can participate in extracurricular activities to help you gain experience in the field. Such as:

  • Working at a bank: There are many benefits of working in a bank. It is not only impressive on your resume but is also easy to manage along with your studies. Having a bank job will also pay you better than any other part-time job you can find. But most of all, working in the bank will give you the experience to work in the finance and accounting field and incorporate all the skills you need.
  • Working internships: If you work as an intern for a finance-related firm, it will give you a massive advantage because it will count as field experience. But you have to keep in mind that while working for huge corporate names for an internship may seem like a good idea, it is not. You are less likely to get any real-time experience about the field in that case. But if you work for a small firm, you will learn more and get more experience.

After graduation 

Once you have graduated, you will face many challenges. But the biggest challenge of them all is finding a job which is right for you instead of wasting several years on other jobs. So to help you in that pursuit, some of the best advice we have got are:

  • The company’s size matters: It may be a dream come true to get a job in a big firm as soon as you graduate. But the employee benefits these firms provide come with strict work requirements, a highly regulated environment, and low payouts. It can limit your experience as you will rush towards giving your maximum instead of giving your best. Instead, small firms can give you a relaxed environment you need to nurture your skills and find out your capabilities.
  • Training and support differ everywhere: You won’t get the same amount of training you need. Some companies provide all the necessary training an employee requires to work in the field. That is where choosing a big firm is beneficial. Their merits are higher, and they will educate and train you according to those merits. If you secure the job, then it is perfect. If not, you will still have all the skills you need to find a job elsewhere.

Conclusion

There are several options you can opt to prepare yourself to enter the finance field. But once you are out in the real world dealing with real customers, you have to remember that your success lies in your planning.

There are several options you can opt to prepare yourself to enter the finance field. But once you are out in the real world dealing with real customers, you have to remember that your success lies in your planning.