Finance is an integral part of every household, organization, government, or multi-national company. Even science graduates require basic knowledge in finance. Finance encompasses stocks, investments, banking, asset management, equity capital, and venture capital which amounts to 7.4% of the GDP or $1.5 trillion of the economy of the USA. Majoring in finance provides a varied range of career prospects, prestigious job positions, and a good salary. Finance jobs have even good prospects in foreign nations and 4 times higher salaries than in India. 

Benefits of a Finance degree

A Finance major is associated with multiple benefits on both personal and professional fronts. On a personal side, you will be able to multiply the money you have earned by making profitable investments in share and stock markets or in other instruments. The professional benefits of a finance major are listed below: 

1. Job security – Finance graduates are professionals in their domain and thus, with good quality work, they can easily capture permanent jobs in firms. 

2. Highly-paid job – Finance jobs are generally high-paid due to the nature of work being highly professional. 

3. In demand skills – Analytical skills, problem-solving abilities and performing financial analyses, and knowledge of IT and software are some common skills in finance majors which are highly valued in the modern business sector. 

4. Large number of vacancies – Due to the demand for financial managers in every sector, the job vacancies for finance graduates are rising. 

5. Growth prospects at peak – The Bureau of Labor Statistics (BLS) has mentioned in its reports the high growth rates of finance jobs, and high chances of promotion and development. 

6. Reputed job profiles – Finance job titles are highly reputed in the corporate world, thus gaining more prestige and fame. 

Certifications in Finance 

Apart from finance degrees, one can pursue any professional certification in finance as well. These professional certifications are highly esteemed and involve greater expertise in various domains of finance. Some of the famous professional certifications in finance are: 

• Chartered Financial Analyst (CFA) certification.

• Certified Public Accountant (CPA) certification.

• Chartered Alternative Investment Analyst (CAIA) designation.

• Certified Financial Planner (CFP) designation.

• Financial Risk Manager (FRM) certification.

• Certified Credit Professional (CCP)

• Certified Internal Auditor (CIA)

• Financial Modeling & Valuation Analyst (FMVA) certification

Each of these certifications are accredited by different reputed organizations and involves a different number of exams to be cleared. 

Career Opportunities in Finance and their salaries

As we mentioned earlier, there are plenty of job opportunities in the industry for finance graduates. Technology,financial management and analytical skills are combinedly in demands in such highly diverse jobs. The following are the best job profile for students with finance majors: 

1. Personal Financial Advisor – Management of personal finances, assets, investment portfolio, etc of individual clients and giving them investment advice. 

Median Salary: $88,890 (BLS)

Job growth prospect (2018-2028): 7%

2. Financial Analyst – Analysis evaluation of different stocks, shares, and money market instruments to take the benefit of investment opportunities. 

Median Salary: $85,660 (BLS)

Job growth prospect (2018-2028): 6%

3. Financial Manager – Preparation of annual financial reports, development, and implementation of financial strategies, and monitoring of investment activities. 

Median Salary: $127,990 (BLS)

Job growth prospect (2018-2028): 16%

4. Loan Officer – Analysis and assessment of loan applications along with verification of documents and past credit history. 

Median Salary: $63,040 (BLS)

Job growth prospect (2018-2028): 8%

5. Financial Examiner – Reviewing of different institutions as in compliance with financial laws and restrictions as well as evaluation of balance sheets and financial statements from time to time. 

Median Salary: $80,180 (BLS)

Job growth prospect (2018-2028): 7%

A finance major can prove to be a useful asset for anyone who has huge interests in strategies behind investments, money multiplication, and financial analyses.