Finance is, essentially, the study of money. People who study finance have a strong understanding of how to manage personal and corporate funds, how to solve financial problems, and how to properly read and analyze financial information and other data. For many financial fields, a bachelor’s degree in finance is only the first step to successful careers, as many professions require additional education and certification to practice.
What Can I Do With An Online Degree in Finance?
Earning an online finance degree can equip you with the skills to pursue several different career paths. According to WhatCanIDoWithThisMajor.com, a website hosted by the University of Tennessee, you could earn your finance degree, then become a banker, personal financial planner, or investment professional, and work in real estate, insurance, or corporate or public finance.
As a bank teller or bank manager, you could work for different types of banks or credit unions, private companies, or regulatory agencies, overseeing commercial and personal lending, managing credit scores, and managing others. According to the U.S. Bureau of Labor Statistics (BLS), which places bank managers in the financial managers category, about 31% of financial managers worked for finance and insurance establishments in May 2008. The occupation also faces average growth in employment opportunities. The median annual wages for financial managers in May 2008 were $99,330, according to the BLS.
With an online degree in business or finance, you could also work in insurance as a salesman, underwriter, or broker, or work in risk management, loss control, or actuarial science. According to the BLS, the median annual wages for insurance underwriters in May 2008 were $56,790. Financial managers for insurance companies, on the other hand, had median annual wages of $110,750 in May 2008.
Going through a finance program could also help you find a career in personal financial planning. As a personal financial planner, you could work for individuals, brokerage firms, trust companies, or other businesses, consulting clients on financial decisions including savings, retirement, and investments. According to the BLS, the median annual wages of salaried personal financial planners and advisors were $69,050 in May 2008.
Yet another career path an online college for business can can prepare you for is working as an investment broker. As an investment broker, you’d be analyzing corporate finances, managing portfolios, and trading on the stock market. To become an investment broker, you will likely need a master’s in finance to move beyond an entry-level position, and will sometimes need additional certifications through professional organizations, according to WhatCanIDoWithThisMajor.com. According to the BLS, the median annual wages of security and commodity brokers in May 2008 were $85,580.
However, keep in mind that all employment and salary projections vary from person-to-person, as employment opportunities depend on the economic climate, your region, and your level of education and experience. In addition, your salary may vary from the median reported by the BLS, depending on your employer.
What Is It Like To Get An Online Degree in Finance?
If you earn your online finance degree from one of many colleges for business, you will likely take introductory courses in management, accounting, economics, business law, and marketing, and as you progress in your business program, you will likely be able to focus your studies on finance coursework. Financial coursework may include topics such as analyzing financial statements, corporate finance, and investments. Many online business degree programs will be conducted through a learning platform that will enable you to view lectures and presentations, engage in discussions with your teachers and classmates, and allow you to turn in assignments and tests online. As with all online programs, it is essential that you have access to the Internet; for a finance degree, you will likely also need word processing software and a program that will allow you to make and adjust spreadsheets.