There is an old saying that money makes the world go around and whether or not that is true, is up for debate. One thing is for sure and that is that money is an essential part of any business and if you are a problem solver, have good communication skills, and an interest and knack for managing money, then there are many careers that a finance degree can lead you to.

Most careers in finance require at least a bachelor’s degree and in many cases a master’s degree is preferred. Some common types of master’s degrees for finance careers are a master’s of business administration (MBA) or a master’s in economics, finance or risk management.

Finance degree holders can work for a variety of businesses including: financial institutions, commercial banks, savings & loan associations, credit unions, mortgage companies, finance companies, or insurance companies.

Finance Degree Related Careers

• Controllers oversee the preparation of financial reports and special reports, including income statements, balance sheets and those required by regulatory agencies. The accounting, auditing and budget departments are often headed by controllers.
• Treasurers and finance officers manage an organization’s budgets to meet its financial goals. They oversee investments, associate risks, cash management, raising capital, and mergers and acquisitions.
• Credit managers handle all matters involving the company’s credit including issuing credit, establishing a good credit-rating, determining credit ceilings, and handling past-due collections.
• Cash managers monitor and control the flow of cash receipts and disbursements in accordance with the organization’s business needs and goals.
• Risk and insurance managers are responsible for minimizing risks and losses that can occur in everyday business operations. They also manage the organization’s insurance budget.

Finance Degree Career Certification and Licensing

It is important for finance professionals to have knowledge of the current federal and state laws and regulations that can be achieved through graduate courses or conferences. Professional certification for finance professionals is not always necessary but can offer a competitive advantage and even higher salary.

Types of certification:

• Chartered Financial Analyst (CFA)
• Certified Public Assistant (CPA)
• Certified Management Accountant (CMA)

What’s the Job Outlook?

The globalization of the economy and the recession’s impact on changes in laws and regulations will result in job growth in the finance sector. There will be competition for finance jobs since in many cases there will be more applicants than jobs. Professionals with a master’s degree, certification, or an expertise in accounting or finance will be in higher demand.

How Much Does it Pay?

Finance  careers salaries’ depend upon many factors including the size and location of the company and the type of industry. Median annual earnings for finance managers are $90,970. Some finance careers may offer bonuses and, for upper level positions, stock options.