Many people have been in search and making inquiries on which field they can major. If you are also in search of which field you can major, you are in the right place as we have made our research and given you a good recommendation which is Finance. In this article, we have also successfully explained in details reasons why you should major in finance.
Before going to the reasons why we have recommended finance as a field, it is good that we do a proper introduction and explanation on what finance is, and the different areas you can choose.
What is Finance?
Finance is a term used in relations to the study, creation/acquiring and management of money and investments. It involves the management of money by individual, government, corporate bodies etc. The “why and how (source)” they (i.e. the individual, government, corporate bodies etc.) have acquired the capital they needed for an investment or a project and how it was used.
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It involves activities related to banking, capital market, debt etc..
The major areas involved in finance includes; Corporate Finance, Investment, Financial markets and institution.
Why major in Finance?
1. High rate of Job opportunities:
the rate of establishment of new companies and management of existing ones has created various job opportunities for a finance expert. For every company to survive there is need for a proper financial record and good management of money. This is where the role of a finance expert comes to play. They are needed in all organizations.
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2. Financial reason:
another good reason why you should major in finance is that finance experts are usually well-paid in whichever niche or industry they work. Their importance is well appreciated and so they them well in return for their services.
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3. Real life applicable Skills:
another good reason why you should major in finance is that finance or courses relating to finance are practical courses, unlike some other courses. As a student of finance, you get to learn skills that prepare you for real-life job responsibilities after graduation.
4. Area/Level of Application:
another good reason why you should major in finance is its wide area/level of application. Finance can be applied in organizations, either private or government-owned or Non Profit. It can also be applied in religious bodies etc.
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Other career opportunities in Finance include;
1. Loan Officer:
Loan officers are responsible for the assessment, approval and recommendation of a loan or loan facilities for individuals and businesses and other corporate organizations. They gather and verify all the documents available and required to evaluate their clients need for a loan and their ability to pay back at the speculated time.
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Personal Financial Advisor:
Personal financial advisors help individuals manage their finances and plan for their financial progress. They analyze the individuals financial activities and give advises on how they can improve on it to grow sustainably. E.g, A personal financial advisor could help a salary earner by studying and planning based on the amount of salary the individual receive monthly, and their expenses to have a good retirement.
- Financial Analyst: Financial analysts are responsible for analyzing and evaluating opportunities available for growth to individuals or organizations. They help to assess the performance of investments including stocks, bonds, and other types of investments. Most times they are industry-specific, or focus in a particular niche. Etc.
Others include;
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- Credit Analyst
- Budget Analyst:
Professional certification
To major in finance, you need to go through professional studies and trainings in finance. These studies/trainings get you a professional certificate after successfully completion. This however sets a good standard as an expert in the industry.
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Conclusion
In conclusion, considering the state of economy in Nigeria and other countries, there is need for experts in Finance that can contribute their quota to the growth of the economy of the country. So itf you are considering the field you could like to major, finance is a good choice to major, explore and make an impact.