What is a Finance major?

Finance major is a fierce and competitive field that is envisioned to yield 6 or 7 figure income along with perks. With profound knowledge and skills in the financial domain, you can either work for clients or work for large companies. Your main aim would be to induce the financial growth of a company or individual with your decisions. Finance subject is a dynamic field to study with a robust inclination towards mathematical aptitude and is quite detail-oriented. 

Skills in Finance majors

Apart from the subject matter and course contents, finance majors will let you develop a ton of valuable skills and intellectual abilities. Some of the crucial skills are listed below: 

1. Analytical Thinking

2. Mathematical aptitude 

3. Logical reasoning

4. Decision-making skills

5. Accounting Skills 

6. Business Intelligence and acumen

7. Financial Modeling and reporting

8. Cash Flow and Data Management

9. Management Experience

10. Relationship Management Skills

Finance major jobs 

Finance is that arena of a business with which the company or individuals are able to manage their finances and allocate funds effectively. Without finance, no business can survive in the market. Hence, in every company or for any individual, there is a need for finance experts who can guide and manage every bit of their monetary proceedings. Following are some entry-level positions in finance that any graduate with a finance degree can pursue: 

1. Investment Banking analyst

2. Financial analyst

3. Junior Tax associate

4. Personal Financial Advisor 

5. Credit Analyst

6. Insurance Claim Adjuster

7. Financial Auditor

8. Data analyst

9. Insurance Underwrite 

10. Actuary

11. Budget Analyst 

High profile jobs in finance with extremely good pay

1. Securities, Commodities, and Financial Services Sales Agents

2. Financial Examiners

3. Financial Managers

4. Personal Financial Advisors

5. Loan Officers

6. Financial Risk Specialists

7. Portfolio Manager

Salary prospects for finance majors

According to Glassdoors, the highest salary for head for finance is Rs. 56 lakhs per annum while the average salary for the same stands at Rs. 23 lakhs per annum in India. While the base salary for other finance jobs stands at a minimum of 6 lakhs per annum to 22 lakhs per annum in India. On the other hand, in the USA, the median pay for finance roles is $83,660 per year. 

Industry growth and prospects 

As per the report of the U.S. Bureau of Labor Statistics, the jobs and employment opportunities in the finance sector are envisioned to grow at 5% in the next decade which is quite higher than other industries. The financial industry is constantly evolving given the growth of entrepreneurship and startups. 

Three compelling reasons to do majors in finance

1. The Finance industry is constantly evolving with new innovations, thus you can never get bored with a job in this domain.

2. The jobs in the finance sector are one of the highest-paid jobs not only in India but also in the world. Thus, you can collect money and even start some business on your own.

3. It doesn’t matter what the company is dealing in, every corporation needs to manage finances. Thus, the jobs for finance roles will keep on increasing. 

Is finance major the right fit for you? 

A Finance major is the right fit for you if you enjoy observing the stock market, making prognoses about the investments, have analytical abilities, and can pay relentless attention to subtle details. Entering the finance domain means in the future, you should be able to guide people or firms for making financial decisions effectively. So, if you think you are capable of all these things, then you should take a step further by graduating with a finance major.