Finance Bachelor’s Degree Online
Is a Finance Degree for You?
If you excel in math and enjoy working with numbers, you may want to consider studying finance. Finance is an evolving field of business that requires a great deal of critical thinking and problem-solving. Finance majors will learn how to help businesses and organizations make money by budgeting, investing wisely, raising funds, and making other important financial decisions. They will study financial management, financial markets and institutions, business law, financial statement analysis, corporate finance, and other key subjects. Finance programs also focus on strengthening communication and leadership skills, which play an important role in the relationship your relationship with your clients. Finance majors closely study the economy and stock market to stay abreast of trends and practice making investment decisions. Depending on the program, students may have the option of choosing a specialization within the field, including investment analysis, corporate finance, real estate, and international finance. Finance programs provide students with the necessary skills and knowledge needed for various careers in business finance, banking, financial planning, trading, retail brokerage, mergers and acquisitions, and other industries.
Advice for Earning Your Finance Degree Online
Many students decide to earn their finance degree and take advantage of the recovering market's need for skilled accountants, financial analysts, investors, and commercial bankers. Online finance degrees are credible alternatives to traditional campus degrees thanks to their focus on quality education and independent study. As the number of accredited online finance degree programs has risen, the degrees have become more widely accepted and respected by employers in the field. Students enrolled in online finance programs can benefit from completing an internship or summer job in an area of finance that interests them. Not only will this give them hands-on experience and valuable training, but it may be the ticket to securing a job after graduation.
Required Courses
Most finance programs require students to take a range of math, economics, and communications classes before taking any finance and concentration courses. Students typically begin their finance classes during their sophomore or junior year, during which time they take courses in accounting, financial management, business law, marketing, statistics, investments, financial statements analysis, and much more. These courses promote leadership, critical thinking, and problem-solving skills that will come in handy in finance careers.
Common Career Paths
Finance graduates are eligible to work in a variety of fields. Common careers include (but are not limited to):
- Financial Analyst
Financial analysts guide their clients or companies in investing their funds in areas like commodities trading or stocks and bonds. A financial analyst can help a company or an individual assess his or her overall value based on stock prices, sales, tax rates, cost, and other factors that help analysts predict future earnings. Financial analysts work for investment banks, credit unions, insurance companies, securities firms, and other financial corporations that pay specific attention to investment trends.
According to the U.S. Bureau of Labor Statistics, career paths for financial analysts are relatively strong. In fact, the Bureau expects employment for financial analysts to grow much faster than average; however, the BLS also notes that competition will be higher for these positions. In 2008, on average, financial analysts made $73,150 a year, and the highest 10% earned more than $141,070 a year. The BLS also points out that performance bonuses are very common in this field.
- Loan Officer
Loan officers job help clients navigate the sometimes complicated process of applying for and taking out a loan, whether for commercial purposes or to buy a house or a car. Once a client submits an application for a loan, the loan officer checks out the applicant's background, credit history, source of revenue, assets, and other financially relevant information that help the loan officer decide whether the client can repay the loan. The loan officer then checks this against the loan-granting institution's requirements. If all looks good, the loan officer will approve the loan. Loan officers typically work for commercial banks and credit unions, as well as mortgage companies.
The U.S. Bureau of Labor Statistics projects average employment growth and good job opportunities for loan officers, with a 10%growth of employment occurring between 2008 and 2018. In May 2008, the BLS reported that the middle 50% of loan officers earned between $39,710 and $76,860 annually.
- Financial Manager
Like a financial analyst, a financial manager works specifically with a company or organization's money. However, financial managers also keep track of financial data and manage funds using both long- and short-term strategies. In addition to taking on general duties, financial managers can also take on specific roles, such as that of treasurer, comptroller, risk and insurance manager, or credit manager. In order to successfully handle these responsibilities, financial managers usually earn a bachelor's degree and then go on to specialize within the field by earning a graduate degree.
The job outlook for financial managers, according to the U.S. Bureau of Labor Statistics, consists of a projected 8% growth in employment opportunities from 2008 to 2018. Long-term need for financial managers will keep many employed, as companies often stick with the same manager as the manager becomes more familiar with their financial situations. Other financial managers might be hired temporarily or by contract in the event of a short-term crisis. Because of these factors, the career field is very competitive. In May 2008, the middle 50% of financial managers made between $72,030 and $135,070.
