In the study and in career selection, the importance of the finance stream never fades whereas over the years it becomes more important. Finance assignment prepares students for developing their careers in the accounting and financial services sector as well as for the tasks in their everyday life. There is a bunch of finance career opportunities for students out there in the world. Finance uses to revolve around planning and analysis which makes studying finance lucrative for the students wanted to become more financially literate and to take part in companies’ financial decision making team to make their career.
The current essay is drafted to focus on the reasons which make finance a lucrative career opportunity for students in 2020. One major reason for selecting finance as a major is its relatively narrow focus and ability to allow students to explore a field dense with huge job opportunities. The article will let you know about the finance career opportunity in the present world. In the main body section of this essay, the reasons that inspire students to study finance by believing that this will help them to provide a lucrative career opportunity are discussed. This study ends with a concise conclusion indicating the central idea and finding of this essay.
Things you need to know about finance
Practically, finance means all kinds of money-related decisions businesses, governments and consumers use to make on a regular basis. It is similar to the field of accounting whereas it differs from each other. This is because the field of accounting focuses on the collection of financial information and analysis of the same and finance refers to a more concerned field of study with all the implications arise from employing different strategies oriented to money management. Business, the discipline also falls under finance which makes studying finance more effective and value-generating for students.
Studying finance makes a student capable of having the knowledge regarding the science and art of managing money which always acts as one of the main targets of every business organization whether it is small, medium or large. The relationship between finance and business enlarges the area of applying knowledge and skills gathered from studying finance. One of the main reasons which make students select this subject is the chance of availing a wide range of finance career opportunity for jobs.
Finance stands as a field filled with huge earning potentials and rewards providing career options in almost all kinds of industries found in a country or in abroad countries. This field of study has experienced huge growth despite the economic downturn in recent time and thus, it is very often to believe that it is a more reliable and guaranteed field of study compared to other fields. The demand for finance students is always there a market and due to this, studying finance almost always provides a large opportunity for students to get a lucrative job to build their career.
Reasons to study finance
There are a number of reasons indicating why selecting finance for study stands as a smart as well as career supportive choice for potential students. In order to meet the purpose of this essay, some of the most pertinent reasons that make students choose finance by believing it a lucrative career option are discussed below:
One of the great reasons to select finance as major is its narrow focus but the ability to allow students to explore a dense field of job opportunities. This is because; students interested to develop their careers in business then they can choose finance degrees as it allows them to work with an outside business organization’s decision-makers. Examples of such outside organizations include businesses, banks, stockholders, suppliers, government agencies, and more. Being capable of distinguishing himself or herself with a degree in finance will help a student while searching for career options i.e. jobs, more especially from a huge number of majors in business. As a student having a finance degree it is somehow easy to find a guaranteed job because every business organization needs students having a finance degree to manage their cash and accounts to a large extent (ordnur.com, 2020).
Any student can select accounting filed for study or achieve a degree in business administration or other arms that are related to business studies, but for achieving a career in finance a student must be inquisitive and outgoing. Though the student is required to have good knowledge in mathematics, he/she must have good communication skills and the ability to talk to different people as well as creating friendly conversations with them on different subject matters. Therefore intelligence, personality, and education all three are taken into consideration for a finance job. Studying in finance helps students to build personality and make them capable of decision making by communicating with others. Additionally, a student must able to act in a diplomatic manner and consider goals, options, and resources of his/her company or client while discussing their options in relation to financial well-being and growth.
Chances of getting a strong position in the management board: It is quite easy for a student having a finance degree to get a higher position in a company’s management board. A finance degree holder student after getting appointed as a finance executive and performing his/her responsibilities related to cash management, financial reporting, forecasting, and planning easily avails the opportunity to get promoted as a board member such as finance director with a huge salary and increased corporate reputation. In spite of such bright opportunities students still fear to opt finance. Reason being misconceptions that finance studies are tough, if you are having similar perceptions or you struggle with some specific topics, you can take finance accounting assignment writing service by experts.
A large variety of career opportunities
In comparison to other career options, finance-based career options are growing the most which means the career opportunities are also growing i.e. the opportunity of finance jobs started widening. A student having a degree on finance can choose his/her career in finance management, corporate management, international financial management, financial institutions, financial planning and advisory services, investment services, personal financial advisory services, and financial planning for private organizations and individuals, insurance companies, brokerage firms, commercial banks, investment banks, private banks, and credit unions. Along with these options, finance graduates are also capable of getting employed in financial intermediary service providing companies. Such a huge number of options where anyone can be chosen by a finance degree-holding student indicates why the field of finance still considering as not only a great but also a lucrative option for building career (purdueglobal.edu, 2020).
Increasing job prospects
As per the Bureau of Labour Statistics, as a result of the growing need for in-depth knowledge regarding geographic regions and increasing range of financial products, finance positions (job options) is growing rapidly compared to the average employment in the US. The number of students selected their careers as financial analysts, financial managers, and financial advisors has experienced significant growth. The rapidly increasing financial market consist of financial products and instruments also accelerates the job prospects for financial student across the world and thus, the field of finance as study still considered by the students as a lucrative opportunity for career option (Suyetin et al. 2016). Also, the finance filed seems very promising and due to this, it is expected that more students will consider studying finance to avail the increasing job prospects across the world.
Besides providing a large range of career and job opportunities, studying finance also provides financial reward providing jobs. Finance studies help students to get jobs that are highly lucrative in terms of salary and extended financial rewards. The amount of salary varies in accordance with job position, title, role and experience but overall the salary a finance student use to get after joining a company almost always remains comparatively higher that the students belong to other academic fields.
Tips to learn finance without a finance background
Know why you want to do it
Think about all the tangible ways in which financial literacy your finance studies can help you. Ask yourself a few questions:
- Why do I want to study finance?
- Am I interested in finance studies or just knowing regular finance?
- How financial literacy will add to my personal growth?
- Will I get desired career options after a finance major?
After answering them, you will have a clear picture of what you actually want. If, at this stage, you have made up your mind and ready to pursue a finance majors, write down your reasons somewhere.
This will most probably make you able to be a better learner. You can eventually be a bright student or a good job candidate.
In case you only want to gain financial literacy, go ahead. It can help you in unthinkable ways. Financial literacy will not only make your money-related decisions better but it will also make you more confident. You can grow as a better individual.
Whatever be your choice, financial literacy or finance studies, try to stay motivated to chase it. Jot down your choice and the reasons behind it. Reference it throughout your learning process.
Find out your learning method
Just a simple Google search will give you a plethora of ways to learn finance. There are online courses, in-person classes and network of financial professionals to join. You can also go for self-teaching from books, financial publications etc. Be careful. Choose a method that suits you completely. There are various factors on the basis of which you can choose your learning method:
Budget: Believe it or not, for many of us, budget is a primary factor. See whether your budget allows for personal and professional growth. Before making a schedule you should know what is there to access. Sometimes, we are restricted to free resources. On the other hand, sometimes, we can pay for a full-fledged course. Whatever it is, you can still learn finance, but with a clear perspective.
Transportation options: This is only required to check if you want to go for in-person finance class or a regular degree program. Choose institutions in your vicinity. In case you cannot spare time for travelling online finance courses would be the best for you.
Invest your time in learning
Finance will not become your best friend overnight. Prepare yourself for a time-consuming process. There would be a lot to learn and you will have to invest time in finding study methods that works for you. Try setting aside a particular time in every day or may be every week for finance studies. Right scheduling will let you learn new skills without wasting your efforts. Believe us, every time you will do something as per your schedule, you will get a sense of accomplishment. After reading a study material, or debating on a finance topic, or may be after finishing a coursework, you will be proud to see that you are actually contributing your growth.
Connect concepts to real-world circumstances
In order to strengthen your roots of understanding, try a bit hard to connect financial principles with reality. Strive for building a link the study material to real-world examples whenever you find it possible. This will make finance simpler than you can ever imagine. You can pick examples from your personal life. If that’s not making sense to you, then read about some real business entities. Go through some case studies. Doing this will make nebulous concepts logical, practical and easy to learn.
At the end of this essay, it is quite relevant to state that selecting finance for the study is lucrative as well as growth providing career opportunities for students across the world. Due to the ability of this field of study to provide a large variety of job opportunities, huge job prospects, options to get promoted at a higher and reputable position with a huge salary, and others creating increasing demand for studying finance among students. In 2020, finance stands as the most lucrative and value providing career options for students due to the increasing demand of companies for finance managers, financial advisors, financial analysts and more. The growth of the financial market also acts as a factor making finance as one of the most growth providing career options for students.
More to read,
- What is financial accounting
- What is the major objective of managerial accounting?
- Revenue Expenditure: Full Explanation
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