How Much Can a Finance Major Make Out of College?

For many young Americans dealing with the socioeconomic complexities of the 21st century, going to college has become more of a decision to carefully ponder than a rite of passage. To a certain extent, getting a college degree used to be considered part of the American Dream; however, things have changed, and the prospect of higher education must now make economic sense. The pressure in making this decision is even higher in regions such as South Florida because of their higher cost of living.

man watering a money treeMaking more money is in the minds of virtually all prospective college students; while statistics constantly show that college graduates earn more than workers who only have high school diplomas, there are substantial salary ranges to consider. If you are the kind of college prospect seeking to go where the money goes, a finance major could put you on the right track towards this outcome. Let’s look at what the United States Bureau of Labor Statistics has to say in this regard:

  • On average, personal financial advisors were earning nearly $89,000 per year as of May 2018. Even at the lower 10 percent tier, a salary range that some recent college graduates may encounter if they are complacent in their job search, finance majors earned more than $41,000 per year, thousands of dollars more than college majors with degrees in fine arts, education and social work.
  • Financial managers, a position that finance majors can achieve after a few years on the job, enjoy median wages of $127,000 on an annual basis. An employer who needs to groom a financial major into a management position in just a few months could offer $67,000 as a starting salary. As for financial managers who work in the government sector, they can earn $112,000 per year on average.

The Dynamic Field of Finance

Financial advisors and managers are two of the most emblematic positions for workers with finance degrees, but there are quite other occupations in this sector. An important advantage enjoyed by finance majors is that they can find great flexibility in terms of career paths. A finance college graduate with solid communications skills, for example, can be trained in the investor relations field and boost her starting salary to more than $60,000 per year. Another graduate who is interested in commercial real estate and development may pursue a Florida Certified Commercial Investment Member designation, which could boost earning potential to $94,000 per year.

Credit and budget analysis are two occupational fields that are suitable for finance majors, particularly those who already have experience in bookkeeping and accounting; for this reason, a finance degree is highly sought after by working professionals seeking to boost their careers. At Florida National University, the Bachelor of Science in Finance degree program can be completed online, which makes it suitable for students who are trying to balance work and family commitments. FNU is a private institution of higher learning fully accredited by the Southern Association of Colleges, and we offer assistance to qualified students seeking financial aid or scholarships. FNU also offers an athletics department as well as vibrant student life activities. To learn more about our online finance degree program, contact our admissions counseling department.

What to Expect from FNU’s Finance Degree Program

To enter the world of banking, financial institutions and money management, you need to have a good understanding of the nexus between the economic system and the business world; in other words, you need to have a good handle on microeconomics so that you effectively manage monetary funds as well as investments. To complete the FNU finance degree program, you will need a minimum of 120 credits, 42 of them from general education courses, 68 core, and upper-level courses, a capstone, and six credits from elective courses. If you intend to make finance your second career, you can request to have some general education credits transferred to FNU.

Some of the courses that comprise the FIN program include:

  • Principles of Accounting
  • Principles of Microeconomics
  • Money and Capital Markets
  • Investment Analysis
  • Cases in Financial Management
  • Management Information Systems

You have a choice of completing the FIN degree program online, an option that provides flexibility to many students in the South Florida region. FNU has two campus locations in Miami and Hialeah, where you can choose to attend traditional classroom education, and you also have the option of taking some courses online and others on our campus.

Taking the first step towards a career in finance is as simple as getting in touch with one of our admissions advisers. A finance degree can be the ticket towards a very rewarding career, one where you can earn a competitive salary that is typically higher than other career fields. As long as financial markets continue to operate and expand, so will the demand for finance majors.