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Is Finance a Good Major? 5 Reasons Why the Answer is Yes

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Fascinated by money? Then a finance major might be in the cards for you. It's a degree that carries a specific and targeted focus, but it can offer a lot of flexibility and growth potential in other ways. Read on for five answers to the question: "Is finance a good major?"

1. People who major in finance or who pursue a business degree with a finance specialization are needed by a broad variety of employers. As a finance major, you won't be pigeonholed to a certain type of company, but instead can choose among various types of businesses or nonprofits. In fact, the top 10 types of employers looking for people with a bachelor's degree for finance-related roles include not only financial firms, but hospitals, schools, government organizations, and religious and civic organizations.1

2. It's not all about the numbers. While the movies might have you thinking people in finance are all rumpled number-runners, that's just one stereotype that's not true. Sure, the top skills employers seek in applicants include accounting, financial analysis, reporting, and Microsoft Excel, but hiring managers also look for strong abilities in areas such as communication, writing, research and problem solving.2 Numbers, in other words, are just one aspect of the job. (Whether you're rumpled or not is your business.)

3. It's a growing profession. The top finance-related job employers were looking to fill in 2013 was financial analyst.3 The U.S. Bureau of Labor Statistics (BLS) expects the number of people with that job title to grow 16 percent, which is faster than average, between 2012 and 2022.4 There's even greater growth in other finance sectors. Employment of financial advisors, for example, is expected to grow by 27 percent between 2012 and 2022.5

4. Finance major careers can be lucrative. Is finance a good major? You decide: The 2012 median pay for financial analysts was $76,950 a year6, according to the BLS, and for personal financial advisors, it was $67,520.7

5. You learn about money. More than any other degree, students in finance programs can develop extensive knowledge of the most relevant areas in finance, including investment, capital planning, international finance and financial analysis. And what could be wrong with thoroughly mastering your knowledge about money?

Ready to learn more? Explore finance degrees at AIU.

1Labor/Insight (Burning Glass Technologies), 1/1/13-1/31/13

2 Labor/Insight (Burning Glass Technologies), 1/1/13-1/31/13

3 Labor/Insight (Burning Glass Technologies), 1/1/13-1/31/13

4 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Financial Analysts,
on the Internet at http://www.bls.gov/ooh/business-and-financial/financial-analysts.htm (visited February 02, 2015)

5 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Personal Financial Advisors,
on the Internet at http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm (visited February 02, 2015)

6 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Financial Analysts,
on the Internet at http://www.bls.gov/ooh/business-and-financial/financial-analysts.htm (visited February 02, 2015)

7 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Personal Financial Advisors,
on the Internet at http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm (visited February 02, 2015)

The presence of specific potential jobs on this list does not guarantee availability of career opportunities. All statistics referenced are national historical averages and the figures in your area and at the time of your job search may be different.

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