Are you considering a degree major in finance? Finance is a branch of economics that involves the management and allocation of available resources as well as predicting future needs for purposes of financial planning. The specialization categories in finance include personal finance which is the study and practice of the management of individual or family resources and planning, corporate finance, which is financial planning for businesses or organizations and public finance which is the management and planning of government resources, their allocation, distribution, and accumulation.
Is finance good for the job market? Here is the hidden truth about the opportunities available for a finance degree major. A career in finance requires one to be mathematically competent with a passion for the constant study and analysis of things like financial markets, stocks, bonds, and other investment tools. The following is a list of some of the jobs available for finance majors.
Financial planners advise individuals and organizations on how to manage their finances. They conduct extensive researches on financial markets, securities, and other investment avenues and develop strategies that individuals and businesses use to achieve their short-term and long-term targets.
As a financial analyst, you will conduct researches on stocks, bonds, and industries to assist bankers and corporate finance officers or investors with mergers and acquisitions of stocks and bonds. You will also be responsible for the evaluation of financial modeling for corporate expansions and company restructuring. The primary duty of financial analysts is to conduct extensive quantitative analyses on financial markets and investment opportunities and then build financial models to report the details of their findings to senior management for them to make important financial decisions.
Finance majors in investor relations utilize their organizational and communication skills to present financial information on industries or companies to corporate clients and potential investors. These professionals are crucial to the sales cycle of mergers and stocks and bonds trading. They use software analytical tools to digest vital financial information, develop ways to interpret and present the information to corporate clients or business media avenues so that prospective investors may be lured to do business with the company of reference.
Budget analysts use communication skills to gather information from company officials regarding financial proposals and then apply various principles of economy and finance to analyze the financial impacts of the proposals that they have been given according to the short and long-term benefits of the intended ventures depending on already established financial trends. Budget analysts then decide on whether or not the venture is viable and approve or disapprove accordingly. If approved, budget analysts are the professionals responsible for training the staff on the new structure and the budget development processes that have been introduced to the organization.
Finance majors have powerful mathematical and analytical skills making them capable of handling intrusive accounting work in finance-oriented industries. As accountants, they analyze and critique financial statements with precision and attention to detail. They then present the information obtained in the form of financial reports and graphical charts that are easy to interpret. Finance majors who want to venture into accountancy are required to undergo a short accounting course to supplement their already acquired skills and get certification.
These are finance professionals concerned with assessing loan prospects and the risks involved with offering prospects with financing. They analyze financial statements and records of individuals and businesses to establish transaction trends that would help determine the chances of offering the individual or company financial assistance depending on whether or not the individual or business will be able to generate the income necessary to repay the loan requested. Finance majors in this field require investigative mindsets to scrutinize and establish whether the information given by the loan prospect is authentic.
Attorneys who investigate financial irregularities in divorce, product liability, corporate and labor litigations or securities have to have a background in finance. They are required to be able to analyze and interpret financial statements and to have competent mathematical skills to estimate proper compensation and settlement. Financial attorneys need knowledge in law, finance, research, and analytical skills during their practice. They also require excellent communication skills for presentation of their cases in courts of law.
Finance majors who have excellent communication skills can also opt to become real estate specialists. With the capacity to analyze and interpret the business statements of prospective buyers they can be able to recommend properties that align with the financial status of the clients. Financial specialists are also ideally suited for commercial real estate because they can easily explain the appreciation or depreciation rate of properties and offer recommendation and advice to potential buyers.
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