How useful is a finance degree?
The financial services sector is particularly important to the UK economy, generating £173.6 billion last year, equivalent to 8.3 per cent of the country’s entire economic output. If you study finance, the course will inevitably have a strong elements of numeracy, but you don’t need to love pure mathematics to be successful in the field and the subject is sufficiently broad that you can expect to be tested across a variety of different disciplines, including data analysis, research, problem solving, and more. As finance underpins much of the modern economic world, a degree in the subject opens the door to a wealth of opportunities and is looked on very favourably by employers.
So, what can you do with a finance degree? Here are three avenues to explore for your career:
1. Accountancy
The accountancy sector employs the greatest number of master-level finance graduates, and it is a career that involves much more than just spreadsheets and number crunching. Alongside this numerical side of the job, accountants can specialise in a vast array of financial fields from navigating the evermore complex world of tax laws, to corporate regulations, or even crime and financial forensics.
2. Investment banking
Those that start a career in investment banking will often enjoy some of the highest salaries of recent graduates, but it is a hyper competitive world and can be difficult to break into. The job involves managing large and complex financial transactions on behalf of companies and investment funds, including the sale of stocks, bonds, and other financial instruments as well as handling mergers and acquisitions.
3. Private wealth management
If you are interested in managing and growing financial assets, but are less interested in the high pressure and fast-paced world of corporate finance, you may enjoy the world of private wealth management. Here you will be managing the assets and wealth of high net worth individuals – millionaires and billionaires – and putting their capital to use. Private banking is a more low key and personalised service compared to the corporate world, and the role covers everything from stock investments to tax planning and estate and trust management.
Could finance be the right path for you?
