9 Signs You Have What It Takes to Major in Finance (2024)

FAQs

How do you know if finance is the right major for you? ›

If you are interested in solving problems in creative ways or helping companies to plan how to grow their revenue or maintain profitability, a finance major is right for you. A Bachelor of Science in Finance will help you develop multiple skillsets with a great outlook for success after your graduation.

Finance Career Character Traits

If on the other hand, you love numbers, are good at math and Excel spreadsheets, and relish delving into the financials of a public company, then you might want to be an analyst. If you have both skill sets, a position as a financial advisor could suit you best.

Understanding money is central to the finance major, so you should be detail-oriented and comfortable working with numbers. At the same time, work in finance also involves a lot of interaction with other people, so communication skills are also important.

Finance degrees are generally considered to be challenging. In a program like this, students gain exposure to new concepts, from financial lingo to mathematical problems, so there can be a learning curve.

Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators. That said, there are some basic math skills that would certainly make you a better candidate in the finance industry.

Finance majors build knowledge related to nearly every operational area of an organization, including accounting, sales and lead generation, human resources, and marketing. The curriculum for a finance major includes courses in personal finance, economics, business law, accounting, marketing, statistics, and ethics.

It offers a fast-paced, continuously challenging career

The adrenalin of deals (whether you're the client or broker) and the buzz of the trading floor and the pace of change - for the better or worse - means it can provide a highly stimulating career.

1. Investment Banker. Roles in investing banking are highly sought after. For investment bankers, it's often a higher competition to land a role in one of the largest firms.

One thing that's for sure is the high amount of math you will need to study. Finance is a mathematical discipline, so if you aren't as comfortable with math as with other ways of thinking, you may find it more challenging.

Salaries in the finance industry

According to the U.S. Bureau of Labor Statics (BLS), careers in finance pay a median salary of $76,850 — 66% higher than the median salary for all occupations in the nation ($46,310).

What is the best minor to have with a finance major? ›

Business. A minor in business administration is also a strong complement for a degree in finance. Many financial analysts work in some capacity for businesses. A business minor provides the skills that may qualify you for higher-level positions in the company.

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

Most finance programs require a minimum cumulative GPA of 2.0-3.0.

Many companies say your major does not matter, claiming they hire people from all backgrounds, including art majors. No doubt they do, but it is certainly better to apply for finance jobs with a finance-related degree.

You could potentially break in with a 2.8 GPA, but that is the exception, not the rule. You really want to aim for a 3.7+ GPA with strong extracurricular activities.