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How does a person use their economics degree to transition to the financial field from the hospitality and service industry? #Spring25
I am about to achieve my associate's degree in economics and will be transferring to a four-year university to obtain a bachelor's in economics with a minor in accounting.?
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Iris’s Answer
You probably have more valuable skills than you think. Use your economics degree to your advantage and showcase your skills from hospitality, like building good relationships with clients and strong communication abilities.
Consider gaining some financial experience by getting an Excel certification and maybe taking an internship at a well-known bank.
Consider gaining some financial experience by getting an Excel certification and maybe taking an internship at a well-known bank.
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Lisa’s Answer
As someone with over 20 years of experience in the financial field and a background in agricultural economics, including time as an intern at the Chicago Board of Trade, I can offer some practical advice on leveraging your economics degree to transition from the hospitality and service industry into finance.
First, your economics education provides you with a strong foundation in analytical thinking, data interpretation, and problem-solving—skills highly valued in finance. Your minor in accounting will be particularly beneficial, as many entry-level roles in finance require a solid grasp of financial statements and accounting principles.
Here are some steps you can take to make a successful transition:
• Highlight Transferable Skills: Emphasize customer service, communication, and time management abilities gained in hospitality. These are valuable in client-facing roles such as banking, financial advising, or sales.
• Gain Relevant Experience: Seek internships or part-time positions in finance, even while completing your degree. Consider roles at banks, investment firms, credit unions, or as a financial analyst assistant.
• Network: Attend university finance club events, career fairs, and connect with alumni in the financial sector. Don’t underestimate the value of informational interviews—many professionals are willing to share advice and experiences.
• Certifications: Consider pursuing industry-recognized credentials like the Securities Industry Essentials (SIE) exam, or later, the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) designations, depending on your career interests.
• Leverage Your Background: Your experience in hospitality demonstrates resilience, adaptability, and the ability to thrive under pressure—all assets in finance. Tailor your resume and cover letters to show how these skills translate to financial roles.
• Stay Informed: Read financial news, follow market trends, and, if possible, simulate trading or investment analysis. This will help you speak the language of the industry and prepare for interviews.
Remember, many in finance come from diverse backgrounds, and your unique experiences can set you apart. With dedication and strategic planning, your economics degree can open the door to a rewarding career in finance.
First, your economics education provides you with a strong foundation in analytical thinking, data interpretation, and problem-solving—skills highly valued in finance. Your minor in accounting will be particularly beneficial, as many entry-level roles in finance require a solid grasp of financial statements and accounting principles.
Here are some steps you can take to make a successful transition:
• Highlight Transferable Skills: Emphasize customer service, communication, and time management abilities gained in hospitality. These are valuable in client-facing roles such as banking, financial advising, or sales.
• Gain Relevant Experience: Seek internships or part-time positions in finance, even while completing your degree. Consider roles at banks, investment firms, credit unions, or as a financial analyst assistant.
• Network: Attend university finance club events, career fairs, and connect with alumni in the financial sector. Don’t underestimate the value of informational interviews—many professionals are willing to share advice and experiences.
• Certifications: Consider pursuing industry-recognized credentials like the Securities Industry Essentials (SIE) exam, or later, the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) designations, depending on your career interests.
• Leverage Your Background: Your experience in hospitality demonstrates resilience, adaptability, and the ability to thrive under pressure—all assets in finance. Tailor your resume and cover letters to show how these skills translate to financial roles.
• Stay Informed: Read financial news, follow market trends, and, if possible, simulate trading or investment analysis. This will help you speak the language of the industry and prepare for interviews.
Remember, many in finance come from diverse backgrounds, and your unique experiences can set you apart. With dedication and strategic planning, your economics degree can open the door to a rewarding career in finance.
Updated
Leo’s Answer
Hi Nick,
It's great to know that many economics majors successfully enter the finance and accounting fields. I highly suggest joining the finance and accounting clubs at your university. These clubs often hold info sessions and provide resources that can help you find the right path for your career goals. You're definitely on the right track to start a career in finance or accounting!
It's great to know that many economics majors successfully enter the finance and accounting fields. I highly suggest joining the finance and accounting clubs at your university. These clubs often hold info sessions and provide resources that can help you find the right path for your career goals. You're definitely on the right track to start a career in finance or accounting!
Updated
Vladimir’s Answer
Hi there,
Economics and Finance are very interrelated so Companies would love to have your skillset. Go to your school's career fair or reach out to banks or financial services firms on linkedin to try and land an internship or entry level job! Once you get that experience the options are endless!
I would also suggest tweaking your major/minor to finance if that is what you are really interested in.
Economics and Finance are very interrelated so Companies would love to have your skillset. Go to your school's career fair or reach out to banks or financial services firms on linkedin to try and land an internship or entry level job! Once you get that experience the options are endless!
I would also suggest tweaking your major/minor to finance if that is what you are really interested in.