5 Reasons To Study Finance

Finance is one of the world’s oldest and most popular academic disciplines. As economies boom, a finance degree grows ever important. So, if you are still looking for reasons to study finance, read ahead!

5 Reasons to Study Finance

Choosing the right subject for your undergraduate or graduate degree can be an overwhelming decision process. After all, your future career depends on this choice. If you are confused about why to choose finance, here are 5 reasons to lead you in the right direction!

1. You Get to Study in the World’s Best Universities!

Having a chance to study abroad in one of the excellent universities across the world is an experience that you mustn’t let go of. It would open up a range of opportunities for you– both in terms of job prospects and networking and will also help you hone your personality.

Let’s look at the top 5 universities for finance worldwide!

Top 5 Universities to Study Finance (QS World University Rankings by Subject 2022: Accounting & Finance)
University Location QS Subject Ranking Courses Offered Average Fee per year Notable Alumni
Harvard University  Cambridge, Massachusetts, United States 1 Finance, Corporate Finance, Leading with Finance, Business Economics, Statistics, Data Science, Management $73,440 Jamie Dimon (Chairman & CEO of JPMorgan Chase), Stephan Schwarzman (Co-founder and CEO of The Blackstone Group), Jane Fraser (President of Citi), 
Stanford University California, United States 2 Finance, Managerial Finance, Corporate Finance, Private Equity Investing, Finance and Society, Money and Banking, Behavioral Finance, Financial Markets $76,950 Peter Chung (MD and CEO of Summit Partners), Dipanjan Deb (CEO of Francisco Partners), Kristi Mitchem (CEO of BMO Financial’s Global Asset Management group)
Massachusetts Institute of Technology Cambridge, Massachusetts, United States 3 MBA, Master of Finance, Master of Business Analytics, Undergraduate and Ph.D. programs $79,850 Michael Brennan (former president of the American Finance Association), Wesley Chan (investment partner at Google Ventures), John S. Reed (Chairman of the New York Stock Exchange)
University of Oxford Oxford, England, United Kingdom 4 Economics and management, History and Economics, Philosophy, Politics and Economics, Executive MBA, Finance Economics, Financial Strategy, Law and Finance, MBA, Mathematical and Computational Finance £21,800 Tony Abott (former Prime Minister of Australia), Kate Barker (economist), Mark Carney (Governor of Bank of England)
University of Chicago Chicago, Illinois, United States 5 Entrepreneurial Finance and Private Equity, Entrepreneurial Finance and Venture Capital, Corporation Finance, Introduction to HPC in Finance, Data Science in Quantitative Finance and Risk Management $61,179 Andrew Alper (former VP, MD, and COO of Goldman Sachs & Company), Roger Altman (youngest general partner at Lehman Brothers), Cliff Asnees (Founder of AQR Capital Management)

 

2. Lucrative Finance Jobs

The finance industry offers plenty of jobs, from banking and investment to fintech will if you have the right analytical and mathematical skills. 

The benefits of a finance degree will allow you to earn big bucks in a stellar position at a reputable corporation.

Let’s look at the top 5 job profiles you can work in after your degree in Finance.

Job Profile Job Description Annual average salary
Chief Financial Officer  A CFOs job includes making cost-related decisions about the company’s tech infrastructure, overseeing the group of analysts and financial team, and managing a budget. $140,445
Chief Compliance Officer The primary duty of the Chief Compliance Officer involves dealing with policy management, monitoring the policy compliances, overseeing the departments working in compliance standards, etc. $123,412
Information Technology Auditor An IT auditor is required to ensure that the company’s tech infrastructure meets the demands of compliance standards and IT needs.  $71,110
Financial Software Developer A perfect job for fintech lovers, it involves creating new programs for financial institutions and users. $73,967
Private Equity Associate The role requires networking with investors to earn private equity for business investments and diversify investor profiles. $97,010

Source: Payscale

3. Diversity of Courses

If the question you’re pondering is ‘why study finance’, the answer couldn’t be any more straightforward – it is the diversity it offers!

From undergraduate and master’s courses in finance to diploma certification and research opportunities, the diversity and scope of the field are immense!

You will find the following courses under the undergraduate degree program:

  • Bachelor of Arts Accounting and Finance
  • Bachelor in International Finance and Control
  • Bachelor in Analytical Finance
  • Bachelor in Financial Management

Postgraduate programs offer the following courses in finance:

  • Masters of Liberal Arts in Extension Studies (Finance)
  • LLM in Finance Law
  • MSc in Corporate Finance
  • MSc in International Finance and Political Relations

4. Several Specializations

Finance is a vast subject. A general degree in finance can offer you a well-rounded understanding of the course. But you can also choose a specific specialization since Finance has several different branches, as well. 

For example, you can choose any of the following specializations:

  • Corporate finance
  • Quantitative finance
  • Personal financial planning
  • Banking and finance
  • Finance and investment

With a specialization, you are more likely to find a higher-paying job.

5. Scholarships to Study Finance

Studying in one of the most prestigious universities around the world is a matter of pride, sure. Yet, you cannot simply fly off to the university without having proper funding to back you up. Here are the top 3 scholarships that will help you pursue your finance degree without any worries:

Jane. M. Klausman Women in Business Scholarships

This scholarship is especially for women pursuing a bachelor’s or master’s in Business Management. It applies to all business universities in the USA, Australia, Canada, UK, India, etc. Only eligible if the field of specialization is Economics, Accounting, Business Management, Finance, Operations Management, Marketing, Human Resources Management, Entrepreneurship, or International Business. The maximum amount offered is $5,000.

British Council Great Scholarships:

This scholarship is provided in collaboration with the UK’s Great Britain Campaign and the British Council of India. It’s offered to those Indian students who show exemplary academic records. It covers the entire tuition fee at the bachelor’s level, the 1st year fee at the master’s level, and the entire master’s fee if it’s a one-year course. 

Harvard University– Boustany Foundation MBA Scholarship

This scholarship is offered to international students who are ready to pursue their MBA program. The individual must have a legitimate admission letter from Harvard and must display a valid GMAT score along with an excellent academic record to be eligible for this scholarship. 

Entry Requirements to Study Finance

The entry requirements to study Finance in your undergraduate course may differ from college to college. But most universities demand:

  • Excellent academic record, especially in subjects like Accounting, Economics, and Mathematics
  • A Levels and Scottish Highers of BBB and AABBB, respectively
  • Alternatively, the level 3/level 6 qualification also works

The prerequisites for a postgraduate degree also depend on the university you apply for. Some basic requirements include:

  • A 3-year or 4-year bachelor’s degree or its equivalent
  • Minimum of 2-3 years of work experience
  • Resume
  • Statement of purpose
  • Letters of recommendation
  • GMAT or GRE scores
  • Proof of English language: TOEFL, IELTS, PTE Academic, C1 Advance

 

Frequently Asked Questions

Q1. Why study Finance?

Studying finance as your major will help you both personally and professionally. The field is constantly evolving, and so will your job profile. The degree will also help you stand out amongst your peers. It will also help you become a better problem solver who makes sound business decisions. 

Q2. What are the reasons for studying International Finance?

  • International Finance helps understand the global economy and financial crises around the world
  • International Finance influences the domestic prices and profit of every firm; hence understanding the dynamic global environment is a must
  • It will also help you understand the position of global regulatory agencies that influence the International Finance
  • Ensures a better understanding of financial exchange rates and the related risks 
  • Opens up chances to travel around the world to work in foreign countries as a finance analyst, venture capitalist, investment banker, etc.

Q3. Is an online finance degree worth it?

An online finance degree is worth the value because of the following reasons:

  • It allows you to earn your degree at the pace of your liking
  • You can work while you pursue your degree, thus ensuring a steady flow of income
  • Online degrees also have lower tuition rate
  • There is a certain level of flexibility in taking the classes

Q4. What are the factors that influence the worth of an online Finance degree?

The worth of an online degree in Finance depends on several factors like:

  • Is your university nationally or internationally accredited?
  • Do they have specialized business programs?
  • Is your university connected to industry leaders and associations?

 

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