5 Reasons To Pursue A Degree In FinanceJune 1, 2022 2022-06-02 5:49
5 Reasons To Pursue A Degree In Finance
5 Reasons To Pursue A Degree In Finance
Table of Content:
Pursuing a degree in Finance is an excellent option for students who want to explore and learn more about the economy, how it works, how the world economy functions, and all the much-needed things behind investments, money, and financial independence.
Finance as a discipline was and remained one of the best and most chosen fields of study because not a single day goes by without involving small or large financial decisions.
5 Reasons Why You Should Pursue A Degree In Finance
- Essential in any field:
The more financial power one has, the better it is in today’s world. Understanding financial concepts is one thing, and applying them is another. Using the concepts of Finance, money, and investments involve risks, willingness to take risks, make mistakes, lose money, and start with the same cycle. Every field or organization requires financial professionals who are willing to carry forward this cycle. As a Finance professional, you can are needed by each and every organization to perform some tasks like,
1) Manage the finances of a company (what goes and what comes) on an everyday basis.
2) Research and suggest which investments are profitable and which are dead.
3) Understand the assets and liabilities of a company and then help them build more.
Hence, finance professionals are needed in every field possible, like healthcare, banking, technology, media, etc.
- Continuously evolving industry:
The world of Finance is now expanded beyond banks. The industry is constantly changing and evolving in ways no one would have predicted. Whether the next financial innovation is basic income or something no one has created yet, one thing is straightforward: Finance is anything but boring. It is one of the realms of our society where evolution is strongly linked to the development of new technologies, which means that improvements are inevitable.
Studying a degree in Finance can help you stay put and forward in one of the growing fields of finance technology, also known as ‘Fintech.’ These seven factors majorly influence the evolution of this industry. Students can also consider working in these fields of expertise to get a well-paying job.
a) Cloud Computing- Realizing its benefits, the finance industry was quick to adapt to cloud computing.
b) Open APIs– APIs, also known as Open Programming Application Interfaces, help build partnerships and bridge financial institutions, businesses, consumers, and products and services, especially in the payments sector.
c) Artificial Intelligence and Machine Learning- Artificial intelligence (AI) and machine learning (ML) are considered innovative game-changers in the financial industry. They can solve various complex business problems through algorithms that allow banks to triage, score accurately, and process millions of data points.
d) Internet of Things- The IoT is a wide range of applications rapidly transforming the financial industry. It improves mobile banking security, automates financial transactions and activities, and enhances the overall customer experience.
e) Robotic Process Automation (RPA)- Robotic Process Automation (RPA) allows financial institutions to automate repetitive business processes and tasks through software robots.
f) Blockchain- The term blockchain is more relevant to the crypto market and may also be of value to the financial sector. Financial institutions can have a standard digital ledger that stores and provides real-time transaction data and related information by recording each transaction in blocks and adding each block to the chain.
g) Instant payments- By integrating instant payment systems with other technologies in the financial industry, banks can extend their reach and create global opportunities for further growth.
- Always in Demand:
In today’s world, everyone needs a financial professional to help them make the right decisions and handle all the necessary financial tasks. From small-scale companies to large-scale companies, from corner shops to international brands, from media agencies to law firms, everyone needs finance professionals to manage their accounts and are willing to pay high amounts. Understanding finance is essential for many opportunities, but it is also crucial to your financial well-being away from the office.
- Industry is Ubiquitous:
It doesn’t matter if you work in technology, education, consulting, or advertising. Your business needs cash flow to pay everyone’s salaries, dividends, reinvest in product innovation, etc. Finance is the core of business decision-making. In contrast, proposing a project or asking for additional funding, understanding and communicating how to turn that investment into a profitable ROI will help a more compelling discussion.
- Makes your resume stand out:
If you’re looking for a way to differentiate your resume, Finance is an excellent place to start. Especially if you are looking for a new opportunity with little experience, you can be a more attractive candidate by showing your business knowledge before working in this area. Employers with financial expertise can better understand the team’s impact on the entire organization and make informed business decisions.
Having a degree in Finance comes with various benefits and can help you excel professionally.
This is the way to change your career or find a position that requires advanced financial skills. This is a way to change your career or find a job that requires advanced financial skills. Regardless of how you learn about Finance, these skills can bring success to your professional and personal life.