Recently, we discussed what finance is and why you should consider studying it. Next, we explained how to launch a successful career in the field, and here, we’ll explore why some people think that finance is difficult.
While finance requires some mathematics training and some knowledge and skills in accounting and economics, it’s not necessarily more difficult than any other field of study, particularly for people with an aptitude for math.
To alleviate your concerns, this post will explore why people think finance is difficult so that we can counteract that assumption.
After reviewing these details, if you’re interested in pursuing a degree and an eventual career in the field, fill out our information request form to receive additional details about our online Bachelor’s Degree in Finance, or our online Master’s Program in Finance. If you’re ready to get started, submit your application today.
Why Do People Think Finance is Difficult?
Like any subject, finance will be easier or harder for different people, depending on what they’re good at.
As an example, finance may end up being difficult for you if you don’t have skills, interests, or abilities in accounting, mathematics, or general financial skills, but if that were the case, then you probably wouldn’t consider studying it.
One thing to consider when choosing to study finance is that much of what you study during your degree program will include a mix of economics and accounting, which is naturally going to require at least some math, so if you absolutely detest math, then this may not be the right degree for you.
However, assuming you can do a little math and that you’re interested in general finance topics, or that you’re dedicated to actually working in the industry, we think pursuing your degree and a career in the field will be well worth the effort.
What Do You Need to Learn to Get a Job in Finance?
If you’re looking to break into the field of finance and want to serve as a financial manager or financial services professional, you’re going to need to develop your skills and abilities for handling some core responsibilities, including:
- Developing and nurturing relationships with both organizations and individual clients.
- Calculating debt repayment schedules.
- Estimating and managing financial risk.
- Implementing cash management strategies.
- Applying legislative, regulatory, and industry principles to financial scenarios.
- Assessing client and organizational financial status using interview and data gathering skills.
These may sound like difficult tasks to someone who’s never studied or worked in finance, but they’re not so difficult that you couldn’t develop the ability to complete them by enrolling in a degree program.
In fact, the single best way to build up your skills and ensure that you’ll be able to launch a successful career in finance is to get your degree, which is nearly certain to provide you with the skills and knowledge you’d need to break into the industry, including:
- Understanding proper terminology, theories, concepts, practices, and skills specific to the industry.
- Interpreting financial statements and ratios.
- Applying financial principles to practice business problems and personal financial situations.
- Examining investment opportunities and evaluating, then managing financial risk.
- Performing financial analysis using quantitative concepts and techniques.
These specific skills may require a bit of practice before you’ve achieved total proficiency in the complex processes, but it’s nothing that dedicated study and practice can’t overcome.
Who Should Consider Pursuing a Career in Finance?
Not everyone is going to be a great fit for the field of finance, but there are several character traits that would indicate you may be uniquely suited to find success in the industry.
Here’s a list of several character traits that may help predict a successful career in finance:
- Having a “people first” mentality. According to Forbes, this is a critical character trait for any would-be financial professional since you’ll need to put clients’ interests ahead of your own.
- Fast learners. Financial situations change rapidly, and strategies that worked last year (or yesterday), may no longer apply to the current situation. If you can’t learn quickly, adapt, and overcome, then you may not be cut out for finance.
- Communication skills. Math wizards don’t tend to make the best finance professionals, since knowing the numbers is one thing, but being able to explain them to clients is another entirely.
- Tenacity. eFinancialCareers.com includes both resiliency and persistence in their list of 10 personality traits needed to succeed in finance. This can be a stressful industry; being able to power through difficult times and keep pushing toward a goal is key to finding success in the industry.
- Analytical skills. The Ladders explains that you’ll need supreme analytics skills to succeed in the industry. Being able to see where markets are headed, where industries are moving, or what the long-term trend line predicts is of critical importance to anyone working in finance, and the better you are at seeing patterns and making accurate predictions, the higher your odds will be at achieving success in finance.
- Bravery and leadership. People who go far in finance tend to be capable of moving between the roles of being a team player and leading from the front, effortlessly changing their strategy based on the requirements of the situation.
- Confidence. Considering you’ll need to convince organizations and individuals to take your advice, you’ll need to confidently, but humbly, explain your logic, give advice, and get others to sign off on your plans.
There are many other traits that might indicate you could be a good fit for becoming a financial professional, but these are several of the most telling characteristics.
Do You Need a Degree to Break Into the Industry?
It’s certainly possible to launch a career in finance without a degree, but that’s likely to be far harder than landing your first job with reputable academic credentials attached to your name.
This is especially true for anyone looking to land one of the better industry jobs, or something above an entry-level role, where firms, organizations, and even individual clients are likely to be extremely selective about who they choose to work with.
As a result, getting your degree in finance isn’t only the best way to ensure that you’re able to develop the skills and abilities needed to find success when working in the industry, but it’s also the best way to increase the odds that you can break into the industry at all.
By completing a Bachelor’s or Master’s Degree in Finance, you’ll send a clear signal to any potential hiring manager or client that you’ve put in the time required to develop the knowledge and abilities needed to bring value to their account.
And when it comes time to choose a degree program, CSU Global offers two excellent online options that you’ll certainly want to consider.
Which Type of Degree Should You Get? Bachelor’s vs. Master’s Programs
We recommend enrolling in the degree program that aligns best with your professional needs and career goals.
For most aspiring financial professionals, that means selecting between a Bachelor’s or Master’s program, and the easiest way to pick which program would serve you best is to consider your:
- Current academic credentials.
- Experience in finance.
- Career goals.
If you don’t already have a bachelor’s degree, or you’re brand new to the industry, then you will almost certainly want to enroll in our online Bachelor’s Degree program in Finance.
However, if you’ve already got a bachelor’s degree in any field, you’ve got some experience in the industry, and you’re looking to advance your career and pursue a role in leadership or management, then our online Master’s Program in Finance may be a better fit.
If you’re having a difficult time choosing between a B.S. and an M.S. program, consider contacting one of our Enrollment Counselors by calling 1-800-462-7845, or by emailing enroll [at] csuglobal.edu.
Whichever program you choose, you can rest assured that your studies at CSU Global will help set you up to achieve success in the field.
Should You Get Your Degree in Finance Online?
You should certainly consider getting your degree in finance online, especially if you already lead a busy life full of job or family responsibilities.
If you’re going to have to share time between academic pursuits and other tasks, then studying online is almost certainly going to be the ideal way to pursue your academic credentials.
Studying online will allow you to complete your coursework in your own time and on your own schedule, making it much easier to continue meeting your other obligations.
CSU Global’s 100% online degrees in Finance are both designed to make this juggling act easier on our students, which is why we provide far more flexibility and freedom than a traditional in-person program.
To help you avoid scheduling conflicts, our programs offer:
- No set class times or physical locations.
- Monthly class starts.
- Accelerated eight-week courses.
If you’ve got a relatively busy schedule, but you’re serious about developing the skills needed to become a financial professional, then you should seriously think about studying with us.
Why Should You Choose CSU Global?
Both of our Bachelor’s and Master’s Finance programs are regionally accredited by the Higher Learning Commission, and our Master’s program is also accredited by the Accreditation Council for Business Schools and Programs
Both programs are also designed to develop your foundational knowledge and skills needed to succeed in the industry, with a curriculum designed specifically to be applied in the workplace.
Our educators all have recent and relevant real-world experience in finance, so you can rest assured that you’ll be provided with modern, relevant solutions to the problems financial professionals face on the job each day.
Our Bachelor’s Program is well-regarded by industry professionals, and our Master’s Program is quite literally one of the top-ranked in the country, having recently earned excellent rankings, including:
- A #3 ranking on the list of Top 50 Master’s in Finance Degrees by Intelligent.
- A #1 ranking for Best Online Master’s in Finance by Best Masters Programs.
- A #2 ranking for Best Online Master’s in Finance Degree Programs by Intelligent.
CSU Global itself also recently received several distinguished rankings, including:
- A #10 ranking for Best Online Colleges for ROI from OnlineU.
- A #1 ranking for Best Online Colleges & Schools in Colorado from Best Accredited Colleges.
- A #1 ranking for Best Online Colleges in Colorado from Best Colleges.
Finally, we offer affordable tuition rates, and a Tuition Guarantee that confirms your tuition rate won’t increase as long as you remain enrolled with us.
To get additional details about our fully accredited, 100% online degrees in finance, please give us a call at (800) 462-7845, or fill out our Information Request Form. Ready to get started today? Apply now!