There are a lot of very rewarding reasons to major in finance while in college. Students who study finance are at a serious advantage when it comes to finding and holding jobs after graduation. Plus, they tend to have the easiest time paying off their student loans and managing their cash flow. Here are 5 reasons to get a degree in finance.
- Learn How to Better Manage Money
One of the best things about majoring in finance is that even if you decide to enter a career that isn’t in any way related to your major you would still have very strong money management skills. You will know how to create budgets, set financial goals, invest money and maintain an impressive credit report. These are all extremely important skills for anyone, even if you don’t actually work in finance at all.
- Find a Decent Job
If you do want to find a career related to your finance degree, then there will definitely be plenty of high paying jobs available to you. When you know a thing or two about finance, you might be able to bypass some of the entry-level positions that most recent college graduates take and instead start in a more senior position with greater responsibilities. This is a very secure way to ensure a return on your investment in your college education. Let’s just say there are just as many, if not more, job prospects out there for finance majors as there are if you earned a masters in social work from Rutgers.
- Predict Economic Changes
If you know a thing or two about economics, then you may be able to predict a lot of economic changes well before they happen. If you know your history and how global financial systems work, then you will know what the effect will be, for example, if the price per barrel of gasoline doubles within a year. Once again, even if you don’t decide to work in the field of finance, you will know how and where to invest your money when the economy starts to shift.
- Know How to Invest
With a degree in finance you are going to know a thing or two about the stock market and how to best invest in your retirement account. In both situations you will be taking a bit of a gamble, but in each situation you approach the stock market in a very different way. When you invest in your retirement account, you may want to stick to the boring, low-risk stocks that will safeguard your nest egg, and when you invest for a short-term gain then you want to use your knowledge of the market to be a more active and risky investor and buy and sell the right stocks at the right time.
- Be an Asset
Any business looking to grow will value a college graduate with a finance degree. You can use your expertise to either land a full-time job with a high paying company, or you could fly solo and work for yourself. There are all kinds of freelance work you could do, helping people to manage their expenses and their investments so that they can grow their business as quickly as possible.