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What is the the best college in your opinion to learn to be a financial manager?

8th grade career planning

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Subject: Career question for you

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Michael’s Answer

Hi Eli,

According to U.S. News and World Report, here are the top colleges and universities for Finance & Financial Management Majors:

- University of Pennsylvania
- New York University
- University of Michigan (Ann Arbor)
- University of Texas (Austin)
- Massachusetts Institute of Technology
- University of California (Berkeley)
- Boston College
- University of North Carolina (Chapel Hill)
- Carnegie Mellon University
- Indiana University (Bloomington)
- Cornell University
- University of Virginia

https://www.usnews.com/best-colleges/rankings/business-finance

When reviewing colleges and universities, it is best to check the following:

- In-State vs Out of State Tuition
- Internships
- Scholarships
- Career Placement upon graduation
- Course work and offered classes
- Post-Graduate Degrees - Master and Doctoral

Scholarship applications can start to be submitted during your Junior year and will continue throughout your Senior year in high school. It is best to ask your Academic Advisor/School Counselor on the timeline process as well. Scholarship applications will have specific deadlines and requirements to meet in order to be submitted for review and consideration.

You may want to start to compile your resume/portfolio since a majority of scholarship applications will require academic grade point average (GPA), academic accomplishments, school activities (clubs, sports, etc.), community involvement (volunteer, church, etc.), academic and personal recommendations, etc. There may be essay requirements on why you are a qualified candidate to receive the scholarship, what your future goals are academically and professionally and other questions centering around who you are, your beliefs, etc.

Here are a couple of links for College Scholarships:

https://www.mometrix.com/blog/scholarships-for-college/

https://www.nchchonors.org/students/awards-scholarships/national-scholarships

Also, it will be best to check with the colleges and universities that you will be applying to. You can check with the School/Department of your desired major, the Campus Career Center and the Register's Office for additional information for college scholarships and grants and specific requirements for qualifications.

Best wishes for your education and career path in Finance and Financial Management!
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Michelle’s Answer

You asked a very good question that shows you are starting to plan for your future and that is very admirable !

The college that ranks high in your state is the University of Wisconsin in Madison. They offer a Bachelors Degree in Financial Planning. There are many more schools but you will have to figure out if you want to prioritize the school, the environmental opportunities and where you would like to study and than eventually if you'd relocate to work. In the past five years, Wisconsin has come in fourth for having great opportunities in that field of work.

Your first step would indeed be to obtain a Bachelors Degree. You can major in Accounting, Consumer and Family Financial Services, and take courses such as business law, management, economics, computer information systems, taxation, marketing, statistics and more. You have the option of going for a Bachelors or a Masters degree for this profession. After graduation, you will go for your license to be a licensed financial planner. Your license can be in something you choose such as planning, consulting, counseling, analyst or specialist.

The world of finance is constantly changing so that is why Financial Planning Boot Camps have come about. You can do these during your career and obtain skills and knowledge that will benefit you as a professional. It will keep you up to date.

My advice to you is to take any classes in high school that connect with finance and decide - you have a lot of time to do this - if you want to go to college in your state or if you want to study in a major city where there may or may not be more opportunities in this field. Read up on the various licenses that are offered and do not hesitate to ask more questions. You do have many choices and lots of time to decide before enrolling in college, which is great, so I would suggest that you do a lot of reading about finance, comparing colleges and studying in your current school.

I hope that this has been a bit of help for you and I wish you all the best !
Thank you comment icon Thank you, I was thinking about going to Texas Tech University, do you think that will be a good school? Eli
Thank you comment icon I am not familiar with that school. You can get a Bachelors degree and than two years at Funeral Directing school or go straight to a Funeral Directing school after high school. IMO, it's best to go to an actual Funeral Directing school, but getting a BS degree will help you beforehand. Michelle M.
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Misty’s Answer

This is a great question. My answer is probably very different from what you would imagine. But I think the best college is often the one that is the most affordable, gives the most scholarships and offers the program that you are looking for. Think about what you want to do with your degree, possible places you want to work. Go to job postings in the area you want to work and see what the positing is asking for. Does the college program provide what jobs in the industry are asking for? Think about these things when you are looking for a school. The same course at one school may cost 10 times more at another school.
Thank you comment icon I appreciate you taking the time to answer this. Eli
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James Constantine’s Answer

Hi Eli,

Choosing the Ideal College for Aspiring Financial Managers

Deciding on a career in financial management requires the right college to equip you with the necessary skills, knowledge, and tools for success. Here are some crucial factors to consider when selecting the ideal college for financial management studies:

1. Accreditation: Prioritize colleges accredited by respected accrediting bodies such as the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP). These agencies ensure the college's business programs uphold high-quality standards.
2. Curriculum: An effective financial management curriculum should encompass courses in financial accounting, financial markets and institutions, investments, corporate finance, and financial planning and analysis. Seek colleges that provide a comprehensive curriculum that includes these subjects and offers practical learning experiences.
3. Faculty: The faculty's quality can significantly influence your learning experience. Choose colleges with seasoned and knowledgeable faculty members who have hands-on experience in financial management.
4. Resources: The college should offer pertinent resources like financial databases, software, and internship opportunities.
5. Location: The college's location can also matter. Consider colleges situated in regions with a robust financial industry, such as New York City or Chicago, which can offer internships and job opportunities.

Considering these factors, here are some of the top colleges for aspiring financial managers:

1. Wharton School of the University of Pennsylvania: Known as one of the world's leading business schools, Wharton School offers a highly respected financial management program. Its Philadelphia location provides access to a vibrant financial industry.
2. Harvard Business School: As one of the world's most prestigious business schools, Harvard Business School offers an all-encompassing financial management program. Its Boston location provides access to a robust financial industry.
3. Stanford Graduate School of Business: Stanford Graduate School of Business is renowned for its rigorous financial management program, and its location in Silicon Valley provides access to a thriving tech industry.
4. University of Chicago Booth School of Business: Known for its rigorous academic programs, the University of Chicago Booth School of Business's location in Chicago provides access to a robust financial industry.
5. Massachusetts Institute of Technology (MIT) Sloan School of Management: MIT Sloan School of Management is recognized for its innovative approach to business education, and its location in Cambridge, Massachusetts provides access to a vibrant financial industry.

In conclusion, the ideal college for aspiring to be a financial manager will depend on your unique needs and preferences. However, by considering the above factors and researching top colleges for financial management, you can find a program that equips you with the knowledge, skills, and resources to thrive in this field.

References:

1. AACSB International. (n.d.). Accredited Business Schools. Retrieved from <https://www.aacsb.edu/accreditation/accredited-business-schools>
2. ACBSP. (n.d.). Accredited Business Programs. Retrieved from <https://www.acbsp.org/accreditation/accredited-business-programs>
3. US News & World Report. (n.d.). Best Business Schools for Finance. Retrieved from <https://www.usnews.com/education/best-graduate-schools/top-business-schools/finance>
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