A career path in finance can be very rewarding, not only because of the salary but also because there are many financial career options available—and they aren’t all on Wall Street.
A career in finance can encompass a variety of different roles across a range of sectors, making it an excellent career path for those who want to have a big impact on a company’s future success. Consider the following factors to determine if finance is a good career path for you.
Average Finance Career Earning Potential and Outlook
A finance career path offers a relatively high earning potential, with salary ranges that vary depending on your job function and industry. For example, according to the U.S. Bureau of Labor Statistics (BLS), the 2021 median pay for a financial analyst was $81,410 per year, much higher than the median pay of $45,760 for all occupations.
Given that companies will always need annual budgets, financial analysis, and reporting, the need for individuals with finance degrees is likely to remain strong. The BLS expects the employment of financial analysts to grow 6 percent from 2020-2030, offering plenty of room for those interested in transitioning into a finance career.
Career Paths in Finance
Is finance a good career path? Yes, in large part because there are so many options!
A career in finance can include positions in the banking and accounting sectors, as well as roles in industries such as healthcare, manufacturing, technology, and many others. For example, with a finance degree, you can work as a financial analyst in telecommunications, an investment banker on Wall Street, an underwriter in an insurance company, and many other roles in different industries.
Examples of finance roles include the following:
- Financial analyst
- Investment banker
- Accountant
- Financial planner
- Actuary
- Underwriter
- Budget analyst
Recommended Degrees for a Career in Finance
A finance degree is highly relevant for anyone pursuing a career in finance. Examples of the knowledge and skills you can expect to learn in a finance or business administration degree program include:
- Financial statement and data analysis: Examining and analyzing data to support company effectiveness and budgeting
- Accounting: Creating and interpreting balance sheets, income statements, and budgets
- Financial technology: Operating in-house and external finance systems
- Financial reporting: Generating reports for management review and decision-making
- Research: Learning about industry trends and actions that influence company initiatives and programming
Whether you are looking for an undergraduate or graduate degree program in finance, there are several options you can consider as you explore a career in the finance field. Here are some options to explore:
Bachelor of Business Administration (BBA)
If you’re pursuing your first degree, or already have an undergraduate degree in another field, getting a BBA can provide the finance knowledge you need to shift into a finance career. Plus, you can complete an online BBA program in finance whether you are working full-time or busy with other commitments. The 26-month online program provides a solid foundation in the principles of business and personal finance, markets, risk management, and financial institutions, ultimately preparing you for a range of in-demand finance roles.
Master of Business Administration (MBA)
An MBA provides the advanced finance knowledge required for financial leadership roles in corporations, investment banks, and private firms. The 19-month online MBA program in finance combines core MBA coursework with finance-specific courses in areas such as financial intermediaries, personal finance, and investments.
Integrated Master of Business Administration (MBA) Bridge Program
If you’re looking for a degree program that provides the finance fundamentals of a bachelor’s degree with an MBA's leadership and management coursework, consider the 4+1 MBA Bridge Program. In this integrated program, you can expand your finance credentials while gaining highly relevant management and leadership skills.
Depending on your educational pathway, you can select one of two MBA bridge program options:
- Option 1: While pursuing the traditional on-campus bachelor’s degree, you can begin taking MBA classes during your senior year and then transition to the full-time 100 percent online program that can be completed in one year.
- Option 2: While enrolled in the online bachelor’s degree program, you can apply to the online MBA bridge program and begin replacing upper-division undergraduate courses with MBA core courses. From there, you’ll apply to the fully online MBA program to continue with your coursework.
Is Finance a Good Career Path for Your Future? Get Started Today!
Whether you are considering launching a career in finance or you want to expand your existing knowledge and skills in the field, exploring a bachelor’s or master’s degree in finance can help you take the next steps in your career. Careers in finance are lucrative and offer several career paths from which you can choose.
Selecting the right degree program is a critical first step on the path toward a rewarding career in finance. Mount Vernon Nazarene University (MVNU) Online offers several degree options, each designed to fit your busy schedule. Contact us to learn more and explore the next step in your educational journey.
