It might be daunting to get into anything new when you don’t know all of the specifics.
That is why choosing a career pathway is so tough.
In this post, we’ll talk about Finance Degree and whether they are useless or not.
So is a Finance Degree REALLY Useless?
A Finance Degree is not useless; in fact, for individuals interested in finance, a Finance Degree is well worth the investment because it opens up an array of employment opportunities that pay well and are in high demand.
According to BLS.gov, the median annual wage for financial managers was $134,180 in May 2020.
The employment of financial managers is projected to grow 17 per cent from 2020 to 2030, much faster than the average for all occupations.
Below are some typical duties that a Finance Manager would undertake
Finance Manager Duties
Typically, financial managers will perform the following:
- Financial statements, company activity reports, and projections must be prepared
- Keep an eye on financial data to verify that all legal obligations are satisfied.
- Supervise workers who are in charge of financial reporting and budgeting.
- Examine financial records and look for methods to save expenditures.
- Analyze market trends to optimise profitability and discover new growth possibilities.
- Assist management in making financial decisions
The following are some examples of financial managers:
Controllers are in charge of preparing financial reports that describe and forecast an organization’s financial situation. Income statements, balance sheets, and forecasts of future profits or costs may be included in these reports. Controllers are also responsible for creating reports that are required by government bodies that oversee enterprises. Controllers frequently supervise their organization’s accounting, audit, and budget divisions.
Treasurers and finance officers manage an organization’s budgets to ensure that it meets its financial objectives. They manage investments and other capital-raising initiatives, such as the issuance of stocks or bonds, to sustain their businesses.
Credit managers are in charge of an organization’s credit operations. They establish credit-rating criteria, set credit limits, and oversee the collection of past-due debts.
Risk managers employ techniques to minimise or balance an organization’s exposure to financial loss or uncertainty. Among the risks they attempt to mitigate are those associated with currency or commodity price fluctuations.
Insurance managers make decisions on how to reduce an organization’s losses by guarding against risk.
Final Thoughts
A Finance Degree is not useless; in fact, for those interested in finance, a Finance Degree is well worth the investment because it opens up a variety of high-paying and in-demand career prospects.
Finance is a good choice for those who enjoy numbers and pay attention to detail.
The decision of what to study is significant.
Speak with trustworthy friends and family members, and perhaps seek help from a professional adviser.
Before choosing a professional route, consider your skills and weaknesses, as well as your likes and dislikes.
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- Finance Harder than Accounting? (Solved & Explained)
References
- Financial Managers: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics (bls.gov)
