Making the decision to study for a degree is life-changing, and it can help you achieve your dreams and build a substantial career. Finance is an interesting subject, and one that could open many doors in your future. Whether you want to work in accounting, investing, economics or business management, a finance degree is a great foundation. If you’re thinking about studying finance, here are three things you need to know.
You’ll be working with a lot of numbers
Naturally, the subject of finance involves a great deal of numeracy work. Not only should you have a solid understanding of mathematics, but a natural ability to calculate and read numerical information quickly is extremely important. Most universities will encourage you to have A levels in maths or business studies, in which you develop the skills to analyse and process numerical data.
During your degree, you’ll learn to analyse and interpret profits and losses (P&Ls) and other types of financial accounts. P&L statements help give an overview of a company’s financial performance, and are a key part of business management, as financial analysis helps to drive decisions and set targets throughout the business.
You’ll need some technical skills
Excel is used throughout the world of finance, so a solid understanding of how to create, edit and add financial data into spreadsheets is invaluable. If you can spend hours staring at spreadsheets and easily interpret formulas, a finance degree may suit you well. A flair for IT and technology may help you get a head start, but a consistent dedication to evolving your skills is crucial.
Learning how to present financial data in layman's terms is also a crucial skill you’ll develop in your course, as you’ll need to be able to explain the data to clients and businesses when you start your career. Soft skills such as strong communication are important, but finance is a technical degree that focuses heavily on technical skills.
You need to have a strong work ethic
A strong work ethic is something that will serve you well throughout your life no matter which job role, industry or sector you end up working in. But as a finance degree is something quite intense and fast-paced, you do need to be prepared to devote many hours to your studies.
Whilst it’s by no means an easy degree to accomplish, doing so can pave the way for a lucrative future. There are opportunities all over the world for finance professionals, and it’s an evergreen profession that is in demand globally.