Decision-making is tricky business, and rarely are the stakes higher than when money is involved. Handle it carelessly, and you may find your pockets empty and your colleagues angry. Businesses and other organizations depend on their funds being allocated intelligently. Financial decisions, however daunting, must constantly be made.
If you're an excellent problem solver who communicates clearly and likes working with numbers, you may want to consider studies in financial management. This field entails high rewards as well as hard work.
All about bachelor's degrees in financial management
A typical financial management curriculum focuses on relevant math and analytical skills. Bachelor's degrees in financial management should offer a broad understanding of business, ranging from international finance to derivatives. Coursework is likely to cover topics like these:
- Accounting and statistics
- Analysis of financial statements
- Banking and financial support services
- Credit management
- Financial markets and institutions
- Financial planning
- Investments and securities
Additional classes in economics and business can bolster your financial expertise. Because managers must draft proposals and function as team leaders, you may want to fine-tune your writing skills or enroll in a speech class. General education classes can help you build the interpersonal communication skills that are a cornerstone of success.
Career options, outlook and salary information
Financial management is a well-paid career, and not surprisingly, a competitive one. In addition to a bachelor's degree, the Bureau of Labor Statistics notes that more than five years of related experience is typically required to enter the field. According to the BLS, financial managers earned a median annual wage of $103,910 in 2010. For this occupation, the BLS predicts slower than average employment growth of 9 percent between 2010 and 2020.
Job prospects should be best for those who hold advanced degrees or professional certifications, for example, the credential of a Certified Public Accountant. To make yourself an attractive candidate for this line of work, you can polish your communication skills and master relevant computer software programs. The BLS notes that it is also advantageous to obtain a license to sell insurance or securities.
Both education and experience count in this lucrative line of work. Explore the many convenient online options for financial management classes, and discover a way to continue gaining work experience at the same time that you pursue your degree.