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I am interested in pursuing a career in finance, what kind of jobs would that qualify me for?

I am looking into being an entrepreneur , so would finance be the best major for that?#corporate-finance #finance #college-major

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Alan’s Answer

The first question is a huge one, because finance is a huge field. I can say that the financial aspect of business is one that many try to avoid, but if you master the financial aspects you will have a strong understanding of the core of whatever business you are involved with.


The second question is more specific, will finance be a good way to prepare for entrepreneurship? Generally speaking, your role will be one to create a core idea and flesh it out to a point where others can understand what you want to do. Finance is a great place to start, but as someone who is starting a business from scratch, you'll need to be a generalist. So, writing, public speaking, project management are also important subjects you'll need to be familiar with. Marketing is very important, as important as the fundamentals of the product or service you are selling. In this economy, if you don't get your message out effectively, and there are myriad ways to get a message out, your growth and potential profitability will be held back, or prevented from materializing. Management of your workforce is also a critical aspect of building a business, so you'll need exposure to Human Resources matters.


Now, that seems like a pretty big pile of stuff, isn't it? Don't be discouraged, though. If entrepreneurship is your goal, you should be looking for a school that offers more than just one entrepreneurship course tacked on to a finance, marketing or HR major. Your goal is to be a generalist with a brilliant new idea, someone who can inspire others to join in, and identify the people who can fulfill each of the needed roles to support your business plan. The finance aspect will teach you the language of investment, so you can talk to your backers and understand your accountants. The program you sign up for should support that broad approach.


What I've just laid out is an ideal scenario. I have no idea what kind of skills, interests, resources or time you have to go to college. Not many among us can master all those subjects fully, and definitely not in a single undergraduate program. If you are not in an ideal situation, if you can't go to the ideal entrepreneurship school, then an alternative plan is to pick one or two areas of study, and make that your program, for instance a major in finance and minor in marketing. Along the way you'll find chances to pick up seminars or pop-up lectures on other subjects on campus by visiting scholars that will broaden your education. And, I'm sure you know the number of good quality courses online is growing constantly, probably at the colleges you are considering, even ones that can count toward your degree. A key value to school is it points you to resources you otherwise wouldn't appreciate the value of, or don't even know they exist.


The bottom line here is maintain and feed your curiosity regarding business management, and the particulars of the commercial product or service you may be considering, during college and for the rest of your life. College will give you analytical tools, expose you to history and facts and structure you aren't aware of yet. It is entirely worthwhile. Among other things, it tells the people you work with that you are prepared and serious, a person worth taking a risk with. But, it won't give you all you need. It's just a start, a heck of a big leg up actually, but still just the beginning. Good Luck!

Alan recommends the following next steps:

Look for colleges that offer an entrepreneurship program. Ask what does it cost, where is the school, how hard is it to qualify, is it a mainstream school with a strong well established reputation, etc. Assess whether it is an option for you.
Have a back up plan if your first plan doesn't work out for whatever reason. Be flexible in your approach, and goal oriented.
Depending on how much you've done in school so far, consider community college as a way to prepare for upper division work at a university. I did that in California, went to community college for years before doing my upper division work at UC Berkeley. I saved a lot of money, managed to do quite a bit at CC before taking out student loans for UC, and ended up with a top notch degree.
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Elhadji’s Answer

When you major in Finance, you will learn about key business concepts such as opportunity cost, time value of money, business strategy, business plan, goal and objective settings. You will also take classes on Entrepreneurship, Accounting and Business. All of these concepts can prepare you to be a good entrepreneur. There are also many more opportunities in Finance such as corporate Finance, Investing, Merger and Acquisition. Good Luck!

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Brian’s Answer

If you are looking into entrepreneurship, most colleges do offer entrepreneurship topics and classes. However, finance and accounting can be really important subjects if you want to start your own business. Other than that finance usually would lead to jobs in areas like corporate finance, middle market banking, wealth investment management, investment banking, etc.
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