Finance majors are the highest-paid business students, with slightly more than 10% earning more than the average worker in 2019. Among the highest-paying jobs for a finance major are investor relations professionals and corporate lawyers. By studying finance, you can gain insight into the world of investment and decipher trends in the stock and bond markets. This knowledge can make you an asset manager or financial advisor, and may even lead to a position in banking or securities.
The earning potential of finance majors is high. In the field of financial analysis, they can work for investment banks, securities companies, insurance companies, mutual funds, management corporations, and consulting firms. A master’s degree or doctorate is helpful for maximizing career earnings. After graduation, many finance majors pursue careers in research and financial consulting. Their educations help them enter a wide variety of industries, and they can expect to earn more than the national median salary for a number of fields.
If you are interested in working for a large corporation, finance majors may pursue careers in capital management. Major corporations have entire departments devoted to this field. Careers in corporate finance typically pay well and provide many opportunities for growth. Wealth management careers involve assisting high-net-worth individuals manage their assets in order to maximize returns and minimize financial risks. While junior-level associates typically work in a variety of roles, later-level associates often take on management roles and assume greater responsibility for investment strategies.
While finance majors make up about 10% of business majors, they earn slightly more than their non-finance-major counterparts. The highest paying finance careers include investor relations professionals and corporate lawyers. In these fields, finance majors gain expertise in financial markets and are able to advise their clients on their investments. They also learn how to interpret trends in the securities markets. For these reasons, finance majors are well-suited for careers in investment management and accounting.
Graduates with a degree in finance can pursue additional education or professional certifications. Professional certifications such as the CFA or the Series 7 and 63 exams will enhance the job prospects of finance majors. These professional certifications and advanced degrees can further their career advancement and allow them to earn more money. A professional degree in accounting or tax management may also boost their earning potential. If you’re looking to enter a management role, finance majors have plenty of opportunities.
The earning potential of a finance major is high, but it depends on the position and employer. The median salary of a finance major is $93,664. This means that the middle 57% of Finance majors earn between $93,000 and $234,092, while the top 86 percent earn more than $515,794 per year. This means that in 2018, an individual Finance Major would have a take home pay of $82,499/year. Each paycheck would be worth approximately $3,437.
A required course load for finance majors depends on the track that a student chooses to follow, but they can also choose to pursue a minor in real estate. Students pursuing a minor in real estate cannot take finance 357 or finance 367, since these classes are not eligible to satisfy this requirement. A finance major can pursue one of the many options available to him or her, including banking, investment banking, and the financial analyst program.
Although finance is a highly specialized field, a finance background is helpful for anyone pursuing this career field. While it is important to understand the basics of finance, students can also learn about human behavior in courses like psychology. The latter can be extremely beneficial in making decisions regarding personal finance. And a finance major’s interest in people is a plus. This degree can also help them find jobs in the field of finance after graduation.
Students who choose to major in finance typically take foundational math courses, as well as economics and statistics. They also take business law and ethics courses. They may also take electives related to the humanities, like a course on ethics or case studies in finance. However, it is important to note that some schools may require students to take courses in humanities in addition to finance to earn a major. Some students opt for other majors, but this option may not be available at the school that offers them their desired degree.
Students interested in becoming a finance major should review the Drake Curriculum requirements and the required courses for the degree. Generally, finance majors need to complete 21 hours of core courses and nine hours of electives. They should have a minimum GPA of 2.0 or above. Some schools also require students to take the SAT or ACT. The ACT composite score of 20 is equal to the equivalent of a 950 in math and critical reading. Applicants will also need to submit an essay and two letters of recommendation.
The average salary for a Finance Major varies from $93,664 to $515,794. The salary of a Bachelor’s degree holder varies from $30,900 to $75,000 per year. In San Francisco, the average salary is $152,743. This salary range is slightly higher than the national average for finance majors. A credit analyst evaluates a company’s credit risk and issue recommendations to lending institutions. Credit analysts may also create presentations summarizing a company’s financial stability.
If you have a background in finance and are looking to break into the financial industry, you might be curious about the salary range of various finance careers. Here are some of the top finance careers:
Many large corporations have entire departments dedicated to capital management. As an accounting professional, you may choose to join a large corporation or start a small business. Corporate finance careers pay well, and can lead to a wide variety of positions. A finance major may also choose to go into wealth management, where he or she will help high-net-worth individuals manage their wealth and maximize returns while mitigating financial risk. You can begin in a junior-level associate role and take on more responsibility for the firm’s investment strategies.
A bachelor’s degree in finance unlocks the fundamentals of management and accounting. You’ll develop the skills to interpret complex financial systems and write effective reports. In addition, you’ll gain the experience and knowledge necessary to move up the ladder and earn a higher salary. In the United States, the median salary for an accountant is $71,500. The highest-paid accounting professionals earn $124450. However, there is no perfect career path. As a result, you must know the salary range for different jobs in the field.
After graduating from college, finance majors can pursue careers in a wide variety of fields. They can become investment bankers, insurance agents, real estate agents, financial analysts, and investment professionals. These fields require rigorous education and experience, and the salaries of finance majors are well above average. You can pursue a career in virtually any industry if you’re willing to put in the time and effort. Just be aware that salaries for finance majors do vary.
Locations with highest pay for finance majors
For finance majors, a good option is to go the banking route. While the financial industry is a challenging one, there are plenty of rewarding job opportunities. For fresh college graduates, this route is ideal, as it gives you the opportunity to gain valuable experience for recruitment. Other options include corporate banking, sales and trading, and equity research. While the transition from sell side to buy side is not as easy as it sounds, it is definitely possible.
While the average Finance Major in the US earns $101,038 per year, those in San Francisco earn an average of $152,743 per month. This is 51% higher than the national average. The range of salaries for Finance Majors is $19,509 to $515,794, with the median salary falling between $93,664 and $234,092. However, those in the top ten percent can earn up to $515,794.
Many finance majors choose to specialize in a particular area. Some are interested in working in commercial banking, private equity, or international finance. Others are interested in studying insurance actuarial science, such as retirement benefits. However, no matter what area you choose to focus on, a finance degree can help you land a top job. For more information, visit the National Association of Actuaries website. If you’re serious about becoming an analyst, a finance degree is a great calling card for any job in this field.
As the economy grows, so will the need for finance analysts. According to the BLS, the demand for credit analysts will grow by six percent between 2020 and 2030, a rate much faster than average for all occupations. Finance majors should continue to learn and develop their skills to be competitive. The most common jobs for finance majors fall into the financial services industry. These include positions such as financial analyst, investment banker, and financial planner.