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What majors in college can you take if you want to have a career that revolves in finance?

I know that I want to do something with money and finance, but I don't know what steps to take in college. #career #college #finance


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Jamal’s Answer

Hi - It's very common to get confused and overwhelmed at such a time. Firstly, I would suggest researching a bit on what type of a career in "Finance" are you looking for. Finance would broadly mean a lot of things. People would consider an accountant, an investment banker, an auditor and a management accountant, to be working in the finance department or the finance field. So the number 1 thing that needs to be done right now is to research a bit and understand what the different roles require of you and what are the steps that need to be taken in order to get to the right role. These steps would include choosing the right academic path or professional qualifications, getting the right experience/internships etc.

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ted’s Answer

Finance and accounting are probably the most popular ones for quantitive roles in finance. Economics, marketing, and management would probably all be a close second. Some colleges don't even have finance or accounting majors though. Finance and accounting majors learn real world skills that are valuable to companies. Consider a degree as taking a step in how you want to define your career. While you are not bound by your degree, a degree allows you to show employers your interest and that you have deep knowledge of something. Those two majors definitely help in a job hunt for any quantitive role in finance.

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Gregg’s Answer

Hi Linh,

Finance is a very broad subject so there are many different ways to approach having a career in finance.

You can major in Business with a Finance concentration. That is a traditional approach and could lead to jobs working with financial service firms, brokerages and money management.

You can major in Accounting. This can lead to working for large companies or working as an individual accountant.

You can major in computer science or programming. Those sort of skills are invaluable in finance these days.

Or you can be creative and major in something else but tailor it to finance. You would be surprised how many people you encounter whose education does not exactly line up with what they do. (I work in a technology driven industry with a Marketing major!)

Good luck!

Gregg

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Marilynn’s Answer

The most straightforward option would be a Business major or degree, since it encompasses various fields: finance, marketing, information systems, accounting etc. So by studying Business in college, you would be exposed to several courses related to finance and ultimately opt for a career in finance as you are planning to.
Another option would be Financial Engineering. It is important to note that financial engineering dives into a deeper understanding of finance as it is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. In other words, financial engineering uses tools and knowledge from the fields of engineering, computer science, statistics, economics, and applied mathematics to solve financial problems.

My advice to you is the following: you could check out the curriculum or list of courses offered at the university of your choice for both the business major and the financial engineering major. That way, you can identify which courses and topics interest you more and which ones might be challenging for you, in order to figure out which major is best suited for you and your preferences, which can lead you to the future career of your choice!

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Jason’s Answer

Hi Linh,

There are a number of degrees that would be applicable. Finance, Accounting, Economics, Business, and Mathematics are all quite common courses of study that tend to a career in finance. Obtaining your MBA would also be a positive move in this arena. The link below detains the differences and potential benefits depending on what area of finance you are interested in:

https://www.bankersbyday.com/best-degrees-for-a-career-in-banking/

Good Luck!

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Mirna’s Answer

My advice to you is that you can take a major in Business with a Finance concentration this will help you to have opportunities and jobs working with financial service firms. Also you can take a major in Accounting and this will help you in the future to work with for big audit companies.

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Hanouff’s Answer

There are a lot of majors that can land you a job in finance such as Accounting, Mathematics, Economics, Business...etc.. As a first step, you may want to research the different fields in finance to be to pinpoint the areas that you may want to work in. You can also reach out to different people who work in Finance to get an idea on what they do and if this is something you would be interested in. There is an option to attend seminars or sessions that take place in companies (such as Big 4) to get a closer look from professionals on what they do and ask questions to understand more. In all cases, I just want to let you know that that a lot of people end up working in finance even if it wasn't their major to begin with, I currently work in finance and my partner was an Engineer before he decides to study finance and shift career.

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Rida’s Answer

Hello Linh,

There are many different majors one can take to eventually work in finance.
The most popular choices would be studying business administration, which is what I did.
In my opinion, the best path would be to choose a major that involves more math and analytics.
Studying business is great since you can learn all of the basic business related courses, but they are usually generic.
Choosing a major like economics or math would benefit you more in the long run. Eventually the first job you have is what teaches you the most and gets you acquainted with the industry. Then to solidify your experience/knowledge you can work on earning more specialized degrees, CFA, MFin, MBA etc.. depending on what you are interested in.

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Yumi’s Answer

Hi Linh,
There are many different careers in finance filed - commercial banking, retail banking, real estate, financial planning, tax planning, investment banking to name a few. Not one specific college major leads to specific job in finance field but I recommend you to think what area of financing you are most interested in and pursue a major around it. Looking at an actual job description may give you an idea of what area of study that the particular position is looking for.

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Jorge’s Answer

The “Financial” world is very wide, there are several roles and activities, that’s why you should think about what’s best for you, your personality, and your skills before just choosing one.

The U.S. Bureau of Labor Statistics made a list of financial careers: Public Accounting, Auditor, Credit Analyst, Stock Brokers and Traders, Financial Analyst, Budget Analyst, Personal Financial Planners and Advisors, Risk Specialist, Financial Examiners, Quantitative Analyst, Actuary, Investment Banker, Commercial and Investment Banking, Insurance Agent, Hedge Funds Manager, Venture Capitalist, Real Estate Agent and Chief Financial Officer.

Regardless of which finance career interests you have, the field of applicants will be competitive, so you need to choose the one that fits the most to your strengths and interests. The majors that are related are: Finance, Economics, Management, Accounting, Actuary, Engineering, or other quantitative or business-focused degree. That can help you to develop the following competencies: Accounting Qualifications/Certifications, Interpersonal Skills, Management Skills, Communication Skills, Strong Problem Solving Skills, Financial Forecast Reporting, Analytics Capabilities, Software Skills, Business Savvy, Innovative Skills, Data Science and Statistical Skills.

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Omar’s Answer

Hi Linh,

I would recommend you look into double majoring in Finance and Accounting. I love finance but was never very big on accounting and not until I started my career I realized that accounting is at the heart of any finance role you take whether investment banking or a back office finance role and a finance major alone does not give you the necessary accounting acumen needed excel in the field without countless hours of getting a hand of accounting on the job.

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NYALA’s Answer

This is a great place to start! Money and Finance relate to a couple of majors. Accounting, Finance, and Business Management are a couple of different majors than relate to these areas. Once you obtain your degree, the job market that relates to money and finance broadens as well. I want to note that specific majors don't necessarily lead to one career path. I am in Finance and I know people who majored in so many different majors. So don't stress too much about picking the "perfect major." Good luck!

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