Why You Should Study Finance in College
BY CHAD OTAR
Trying to find the right focus to study in college or university can be a bit of an uphill battle, particularly because a lot of the “tried-and-true” areas of study and industries that use to be rock solid in the past have started to slip – or disappeared completely.
Thankfully though, that’s never something you’re going to have to worry about when it comes to the world of finance.
People are always going to need money either in the form of small business loans or unsecured business loans, are always going to need to manage and invest their wealth, and are always going to be looking for ways to do just a little bit better tomorrow than they were yesterday financially.
Best of all, when you start to chase the FAME (Finance, Accounting, Management and Economics) opportunities in your college and university days you set yourself up for a tremendous amount of success in a world that needs more people in the world of finance now more than ever.
Here are just a couple of reasons why you should study finance in 2019 and beyond!
A narrow focus with unlimited opportunities
If you are looking for a career in business there’s no smarter move than diving headfirst into the world of finance while you’re at school, a relatively narrow focus with an unlimited amount of options that you will be able to take advantage of.
The coursework you will be tasked with studying and researching is going to be laser focused, but the lessons you learn can be applied in so many different industries and instantly different situations that you will have the ultimate level of flexibility when you pursue your career.
A lot of other narrow focus study opportunities really pigeonhole your career opportunities, but that’s never going to be a problem when you dive into finance.
Finance is a personality driven world
While a rock solid grasp of mathematics and clear communication skills are a huge piece of the puzzle to mastering the world of finance, learning these fundamentals are well within the reach of anyone and everyone willing to apply themselves.
Even better, finance in particular is very much personality driven and soft skills and “people skills” will definitely help you get a leg up on the competition. Those that are outgoing, inquisitive, curious, and eager to continue learning well after they receive their diploma are going to find a tremendous amount of success in this field.
This levels the playing field considerably when it comes to how your grades stack up against the rest of your graduating class from all colleges and universities, individuals that are no doubt going to be competing for positions that you are up for as well.
Job prospects are on the rise
According to information from the US Bureau of Labor Statistics, there is a significant growing range of financial products being released and a serious demand for in-depth knowledge of the financial world.
Careers in the financial analysis industry, for example, have grown by 23% over the past five years and are expected to grow even faster in the next five years. Financial management has grown by 14% over the same time with financial advising growing by 32% as well.
Where other career fields are contracting because supply has far outpaced demand (just ask anyone that has studied to be a lawyer over the last five years and what their career prospects look like right now), finance continues to be wide open and there’s going to be even more room and more opportunities to take advantage of by the time you graduate.
Maybe the coolest thing about the world of finance, and one of the best reasons to focus on this field of study for 2019 and beyond, is that you will be able to take jobs and develop careers in a wide variety of areas – maybe more areas than any other field of study out there.
Corporate management, international financial management, investment strategies and services, financial planning opportunities, brokerage work, insurance company work, commercial and investment bank opportunities, and so much more are all going to be available once you graduate with a degree in finance.
On top of that, should you decide to become the captain of your own ship and dive deep into the entrepreneurial world your finance degree is going to come in pretty handy, too.
Chad Otar is the CEO at Excel Capital Management, a pioneer in the Fintech and alternative lending space. He has assisted thousands of business owners to receive funding over the last 10 years and is focused on helping one small business at a time achieve access to capital.