The number of money related jobs is increasing. According to the U.S. Bureau of Labor Statistics, business and finance related occupations are on track to grow by 5% between 2019 and 2029, which is faster than average compared to all other fields.1 So, what is driving this growth? What can I do with an economics degree?
Why Finance Jobs Are Growing Faster Than Other Fields
The U.S. job market will always need financial workers. As the stock market fluctuates and the monthly job rates vary, financial jobs increase, as well as retirement planning with millennials and baby boomers. A lot of wealth management jobs become available during these times due to an increased focus on wealth management and risk management, as well as acquiring real estate.
After the 2008 recession, regulations changed drastically. Banks and lenders began working overtime to ensure they comply. A regulation-heavy market is in need of people who work with the numbers and know the new and ever-changing rules. Our current economic state is also greatly affecting the need for financial workers and the amount of work they do.
Start Your Career by Earning a Degree in Finance
In order to take advantage of the many job opportunities that are available in the finance field, it is important to become qualified for these positions. This includes earning a degree in finance or a related field. Here are a few options for those who want to pursue a career in finance or other similar career opportunities: Professions recruiting in 2022
Bachelor of Science in Finance
A Bachelor of Science in Finance gives students the fundamental knowledge necessary to lead a successful finance career. Students get to explore topics such as finance, accounting, economics, investing and portfolio management. A bachelor’s degree in finance also can help students secure experience, internships or other on-the-job training. 10 Best Science Company Names And Ideas
Bachelor of Science in Finance and Economics
A bachelor’s degree in finance and economics is a more specialized degree than a traditional finance degree. This degree focuses on the relationship between finance and economics and how to apply these areas of study to a career in the business field. What are the best methods of financing a business in 2023?
Bachelor of Science in Accounting
Although not directly a finance degree, a Bachelor of Science in Accounting degree is also a solid option to consider for those who are interested in this area of business. Graduates of this program may encounter career opportunities as accountants, credit analysts or revenue agents. If you are considering finance, it may be beneficial to compare the difference between a finance degree and an accounting degree to ensure you choose the degree that is the best fit for you and your career goals.
Master of Business Administration in Finance
For those who want to go beyond a bachelor’s degree and reach for leadership roles in the financial field, a graduate degree is a solid option to consider. This includes master’s and doctoral degree options. One graduate degree option is a Master of Business Administration in Finance. This degree program further develops students’ knowledge of business and the corporate world and prepares them to take on higher level positions and leadership roles. Best New Business Ideas and Industries for 2023
Finance Major Jobs
“What can I do with a finance degree?” is a reasonable question to ask. Fortunately, with a growing number of jobs and a wide range of job sectors, recent finance grads have many options to consider. It’s important to look into the variety of financial jobs and resources available for graduates to ensure you select a job for which you are qualified and will enjoy. Here are a few to keep in mind:
Analysts work with banks and lenders to determine people’s and businesses’ credit ratings. According to the U.S. Bureau of Labor Statistics, financial analysts are on track to grow by 5% between 2019 and 2029, which is faster than average for all occupations.2 People in this job analyze financial statements and histories to help determine whether a line of credit should be extended. Financial analysts also work with companies to analyze projects and assess investment ideas.
If working directly with individuals and families is something you are interested in, becoming a personal financial advisor could be a great job for you. Financial advisors, also called financial consultants or planners, work with individuals and families to advise them in their financial decisions. They can give advice about everything from mortgages to college savings to investments to retirement. Furthermore, employment of personal financial advisors is projected to grow 4% from 2019 to 2029, about average for all occupations. As the population ages and life expectancies rise, demand for financial planning services should increase.3
If you like enforcing rules and regulations, consider becoming a financial examiner. Employment of financial examiners is projected to grow 7% from 2019 to 2029, faster than the average for all occupations.4 The responsibilities of this occupation include ensuring that companies obey the new financial and tax regulations. They also consult about laws related to financial management and overall business organization
Another job finance majors should consider is a loan officer. Loan officers evaluate, authorize and recommend approval of loan applications for people and businesses. Employment of loan officers is projected to grow 3% from 2019 to 2029, about as fast as other occupations.5 Most loan officers are employed by commercial banks, credit unions, mortgage companies and related financial institutions.
Other Finance Degree Job Opportunities
There are many other finance major job options to explore. For example, you may choose to pursue a career as a:
- Financial planner: A certified financial planner designs a plan that gives businesses or individuals the power and ability to meet financial objectives and control money matters.
- Broker: Brokers work as a mediator between two parties in certain financial exchanges or deals.
- Insurance underwriter: Insurance underwriters must understand risks related to insurance liabilities and make knowledgeable decisions for their business.
- Banker: A banker works with an organization, such as a bank or credit union, and oversees helping clients and assisting them with different tasks relating to the financial services offered by the establishment.
If you would like to enter the fast growing field of finance, consider enrolling in the Bachelor of Science in Finance and Economics degree program or Master of Business Administration with an Emphasis in Finance degree program at Grand Canyon University. To learn more about Grand Canyon University’s Colangelo College of Business, visit our website or click the Request More Information button at the top of this page.