5 Benefits of a Finance Degree with a Minor in EconomicsJocelyn2023-11-08T01:37:33+00:00
With the changing nature of today’s economy, the inherent benefits of a finance degree virtually speak for themselves. Your finance degree will acquaint you with a diverse range of widely applicable skills. It will familiarize you with various aspects of:
There are a lot of ways that you can focus on finance in pursuit of your degree. One of which is to pursue a minor in economics along with your primary program.
So, what are the benefits of pursuing a finance degree with some associated economic expertise? Let’s have a look at some of the best advantages this approach has to offer.
A Sound Opportunity for Personal Advancement
Stephanie Denning discusses Steven Cohen in her article for Forbes. Cohen is estimated to be the 30th wealthiest man on Wall Street and the 72nd wealthiest in the world. He came from relatively humble public school beginnings, and worked his way to the top of his industry through grit and determination. He looked to past generations of his family for an example of where to go in life. He found that his grandfather had been involved in the financial world. With a highly qualified financial background, you can take your ambitions as far as you are willing to work for them. A financial degree with a background in understanding how the economy functions will open a wide range of financial career options. This includes independent consulting options, or the establishment of one’s own firm.
Inherent Value of Having a Minor
Not everyone opts to tack additional courses of study onto their degree program. The simple fact that you chose to expand your workload to further enhance your abilities speaks volumes about your:
- drive
- motivation
- professional character
Individuals who have relevant minors, like economics, can find gainful employment throughout the public and private sectors. They will find themselves standing out ahead of much of the competition. In the world of the business executive, having a minor with a relevant focus is a distinct advantage unto itself.
Broader Range of Career Options
Unlike a specialty, in which one’s overall skill set is narrowed, the addition of a minor bolsters one aspect of your qualifications without limiting the others. This opens up doors for you, without cutting off any otherwise viable avenues of opportunity. In particular, your educational choices wouldmake you exceptionally qualified for such lucrative options as hedge fund management and venture capital. Your professional expertise will be widely viewed as reducing the risk of an investment.
Improved Salary Expectations
The financial world is one in which all but the most basic entry-level positions come with a good salary, and there is a lot of room for upward mobility based on merit. With the added qualification of a relevant minor, you can expect to command top figures in a variety of salary ranges, thanks to your educational qualifications. The role of multinational corporations in today’s business world is expanding. Online transactions cross international lines at every level of commerce. A sound understanding of large-scale economics is viewed as a distinct personal advantage.
Improved Job Prospects
The financial sector’s career prospects are growing quickly, on a par with some of the fastest-expanding industries in the United States. Job growth rates are comparable to those in cutting-edge areas of the energy industry, such as wind and solar. A small handful of specialties in the financial world are seeing significantly faster growth rate than this, however. One of those specialties is economics. Economists are finding themselves employed in a much broader range of high-paying fields today. This is a pattern which is slated to increase through at least 2024. The economy is changing rapidly, and qualified experts are needed to make sense of it all.
Some of the fastest-growing fields in the American business and financial sectors today are:
- financial management
- business management
- economics
Learn more about:
- what it takes to get into these fields
- what you will need to succeed
- how your educational credentials can make all the difference in the world.
Related Resources:
- How Are Finance and Economics Related?
- What is a Master of Economics Degree?
- What is a Master of Financial Economics Degree?
- What is the Difference Between a Master’s in Finance and a Master’s in Economics?
- 20 Most Affordable Online Finance Bachelor’s Options
- 30 Scholarships for Finance Majors
- The Top 30 Best Master of Finance Degree Programs
- Top 10 Affordable Master’s in Finance Online Degree Programs
- 50 Best Online Master of Finance Degree Programs
- Top 50 Most Affordable Online MBA in Finance Degree Programs
