Is Finance a Hard Major? - Bay Atlantic University - Washington, D.C. (2024)

Table of Contents
  1. What Is Finance?
  2. What Do You Learn in a Finance Degree?
  3. Is Finance a Hard Major?
    1. Entry requirements
    2. Course curriculum
  4. What Skills Do You Need to Work in Finance?
    1. Financial planning and reporting skills
    2. Problem-solving skills
    3. Technology expertise
    4. Decision-making skills
    5. Cash flow management
    6. Analytical-thinking skills
  5. Why Major in Finance?
    1. It prepares you for the real world
    2. High salaries
    3. Career growth
    4. In-demand skills
  6. Final Thoughts

Money makes the world go round, but does studying finance make your head spin? Finance is a major that requires high skills and a strong understanding of economic theory. But is it as challenging as it’s made out to be? In this blog, we dive deep into finance and explore the question: Is finance a hard major? Buckle up and join us as we answer this question.

What Is Finance?

Finance is the management of money. It encompasses investing, lending, borrowing, saving, budgeting, and forecasting. Professionals in finance are concerned with how businesses raise, spend, or invest money. Apart from large business firms, finance also deals with how individuals achieve personal goals within their limited financial resources.

Studying finance helps prospective students develop multiple skill sets that will set them up for success in several industries.

What Do You Learn in a Finance Degree?

A finance degree will give you a comprehensive understanding of financial markets, investments, and financial management. You learn to analyze financial data, read financial statements, and make informed investment decisions. You also dive into financial accounting, economics, statistics, and risk management topics.

A finance degree is not just about crunching numbers and analyzing charts but also about understanding how financial decisions impact businesses, individuals, and the global economy. A finance degree develops your critical thinking and problem-solving skills as you learn to evaluate complex financial situations and develop strategies to optimize outcomes. So, if you’re ready to jump into finance and take on the challenge of managing money, a finance degree might be the perfect fit for you!

Is Finance a Hard Major?

Is Finance a Hard Major? - Bay Atlantic University - Washington, D.C. (1)

A major in finance requires you to have a strong math and economics background. But don’t let that intimidate you! With dedication, hard work, and a willingness to learn, anyone can succeed in this field. Plus, the rewards of a finance degree are well worth the effort—you’ll have a deep understanding of financial markets, investments, and management and a wide range of career opportunities to explore.

Entry requirements

Entry requirements for a finance degree vary depending on the university and program. Generally, you’ll need a high school diploma or equivalent qualification and strong grades in math and other relevant subjects. Some programs may require submitting proof of English language proficiency. Some universities may also need a personal statement or interview as part of the application process.

Course curriculum

A typical finance degree curriculum covers various topics, including financial accounting, economics, statistics, investment strategies, ethics, and international finance. Such a curriculum equips you with the skills to analyze financial data, read financial statements, and make informed investment decisions. Throughout your degree, you’ll develop your analytical, critical thinking, and problem-solving skills, and you may have opportunities to gain practical experience through internships or other work placements.

What Skills Do You Need to Work in Finance?

Working in finance requires diverse skills, including a strong foundation in math and analytics, excellent communication skills, and a deep understanding of financial markets and products. Attention to detail, critical thinking, and problem-solving skills are also essential, as you’ll analyze complex data and make strategic decisions.

Financial planning and reporting skills

These skills help finance professionals identify areas of improvement and develop strategies to optimize economic outcomes. Financial planning involves preparing and analyzing financial statements, creating budgets, and forecasting future financial performance.

Problem-solving skills

Problem-solving skills allow professionals to evaluate complex financial situations and develop solutions to challenges. These skills help finance professionals identify and resolve financial issues, such as identifying cost-saving opportunities or minimizing financial risk.

Technology expertise

Is Finance a Hard Major? - Bay Atlantic University - Washington, D.C. (2)

Technology expertise is becoming increasingly important in the finance industry as new technologies such as blockchain and AI change how financial transactions are conducted. Expertise in technology helps finance professionals adapt to these changes and develop new solutions to streamline financial processes.

Decision-making skills

Decision-making skills are crucial in finance as finance professionals are often responsible for making strategic financial decisions that impact the success of businesses or investments. Strong decision-making skills help evaluate risks, weigh options, and make informed decisions that optimize financial outcomes.

Cash flow management

Cash flow management is essential in finance. It involves monitoring and managing the inflow and outflow of cash in a business or investment. Having expertise in cash flow management helps finance professionals ensure effective and efficient usage of financial resources.

Analytical-thinking skills

Analytical thinking skills are crucial for finance professionals as they are critical in decision-making. Finance professionals are responsible for analyzing large amounts of data and identifying patterns and trends to make informed decisions about investments, budgets, and financial strategies.

Analytical thinking skills help finance professionals identify problems, evaluate solutions, and make decisions based on available data. These skills also enable them to critically evaluate financial reports, identify risks and opportunities, and develop strategies to manage them.

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Why Major in Finance?

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Majoring in finance can be an excellent choice for those interested in a dynamic and challenging career offering high job security and financial rewards. A finance degree equips students with the skills and knowledge to analyze and manage financial resources, make informed investment decisions, and navigate the complex economic landscape.

Majoring in finance can be an excellent investment in your future, opening up a range of career opportunities and providing the skills and knowledge required to succeed in the dynamic and ever-changing world of finance.

It prepares you for the real world

By pursuing a major in finance, you will acquire a comprehensive understanding of financial concepts and tools, enabling you to make informed decisions and solve complex financial problems.

Moreover, a degree in finance will equip you with a highly sought-after skill set, including analytical thinking, risk management, and strategic planning, which are transferable across various industries and career paths.

With a finance degree, you can pursue a rewarding career that offers excellent job prospects, high earning potential, and the chance to impact business and finance significantly.

High salaries

Finance is a high-paying field; a finance degree can open many job opportunities. Many finance professionals earn salaries well above the national average, from investment bankers to financial analysts. According to recent data, the average salary for these professionals is $76,570.

Career growth

Finance is a growing industry, and the demand for finance professionals will continue to grow in the coming years. As a finance major, you’ll have access to various career paths and opportunities for growth and advancement.

In-demand skills

Finance majors develop various in-demand skills, including financial analysis, data interpretation, and risk management. These skills are highly valued in multiple industries, including finance, consulting, and technology, making finance majors highly employable.

Final Thoughts

In conclusion, while a finance major may be challenging, it can be an excellent choice for those passionate about finance and eager to develop valuable skills. From financial planning and reporting to problem-solving and decision-making, a finance degree can prepare you for a rewarding career with high earning potential and ample opportunities for growth and advancement. So if you’re up for the challenge and ready to dive into the exciting world of finance, a finance major may be a perfect choice.

Is Finance a Hard Major? - Bay Atlantic University - Washington, D.C. (2024)

FAQs

Are finance majors hard? ›

What's It Take to Earn a Finance Degree and Compete for Finance Jobs? Getting your finance degree isn't easy—it takes time, dedication and hard work. But getting your degree is only the first step.

Is finance hard if you're bad at math? ›

Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators. That said, there are some basic math skills that would certainly make you a better candidate in the finance industry.

Is finance major a lot of math? ›

One thing to consider when choosing to study finance is that much of what you study during your degree program will include a mix of economics and accounting, which is naturally going to require at least some math, so if you absolutely detest math, then this may not be the right degree for you.

What is the toughest course in finance? ›

The Chartered Financial Analyst (CFA) program is widely regarded as one of the toughest courses in finance. It requires an immense amount of dedication to successfully complete and the pass rate is notoriously low, making it a highly sought-after certification in the finance world.

Is finance harder or economics? ›

As a finance degree heavily depends on financial analysis and modeling, students may find the material more difficult if they struggle with mathematical concepts. However, students seeking an economics degree might have difficulty understanding abstract ideas like economic theory and policy analysis.

Is a finance major stressful? ›

Cons of getting a finance degree

Long hours: Many finance jobs require long hours, particularly in investment banking and other high-pressure roles. Stressful work environment: The finance industry can be stressful, particularly during economic uncertainty or market volatility.

Is finance an easy major? ›

Is Finance a Hard Major? Finance is a somewhat difficult major. The difficulty with finance comes down to its concepts that students would not have experienced before in their lives, the financial lingo in the field, and the concentration of math in the subject.

How much math do finance majors do? ›

While each program will vary slightly, students earning a finance degree can expect to take a sizable amount of math classes. Finance degrees will often cover more basic mathematical concepts such as algebra and statistics, as well as more industry-specific math courses such as probability and business mathematics.

What level of math is finance? ›

Usually, if you're considering a finance major in college, it's suggested that you finish around three to four years of math during your high school years. The most advanced level you might need to reach varies based on the college you're interested in, but it could be as high as Algebra II or Pre-Calculus.

Why is finance so complicated? ›

Finance has always been complex. More precisely it has always been opaque, and complexity is a means of rationalizing opacity in societies that pretend to transparency. Opacity is absolutely essential to modern finance. It is a feature not a bug until we radically change the way we mobilize economic risk-bearing.

Does finance pay well? ›

Finance professionals also earn above-average salaries. BLS data indicates that personal financial advisors earned a median annual income of nearly $95,390 as of 2022, more than double the median annual salary for all occupations nationwide.

What is a finance major like? ›

Finance majors study economics, business, and management, taking classes in financial analysis, asset management, and financial management. A finance major is best suited to analytical students with a mind for mathematics.

What is the easiest course in finance? ›

Some of the easiest short-term certification courses in finance include financial modeling, certified financial planner, and certified financial analyst.

What finance major pays the most? ›

8 Highest Paying Finance Degree Jobs
  • Financial Manager. Salary Potential: $208,000. ...
  • Personal Financial Advisor. Salary Potential: $208,000. ...
  • Securities, Commodities, and Financial Sales Agents. Salary Potential: $208,000. ...
  • Actuaries. Salary Potential: $186,110. ...
  • Financial Analyst. ...
  • Accountant/Auditor. ...
  • Budget Analyst. ...
  • Cost Estimator.

Is finance or CS harder? ›

The difficulty of a major in computer science versus finance largely depends on an individual's aptitude, interests, and goals. Computer science often demands a strong foundation in mathematics and logic, requiring students to tackle complex algorithms, data structures, and programming languages.

Is a finance major a good major? ›

You can expect a stable income and many job opportunities in the industry of your choice. Having a career in finance can be both fun and beneficial. The benefits of a finance degree are numerous, be that the high salary that comes with it, the academic growth, and a high number of career advancement opportunities.

How hard is a career in finance? ›

The finance industry is famously hard-charging, especially at the junior levels, and you need to show you can handle it and more. Good references are valuable no matter what, but, more importantly, impressing your bosses during an internship can be a great way to open doors for a future full-time job with that company.

Is finance major harder than accounting? ›

While both finance and accounting can be difficult majors, accounting is considered more difficult because it requires more discipline and a lot of math. Accounting is more complex because it relies on precise sets of arithmetic principles.

How do you know if finance is for you? ›

How To Decide? Finance is an exciting major with plenty of career opportunities. If you are interested in solving problems in creative ways or helping companies to plan how to grow their revenue or maintain profitability, a finance major is right for you.

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