Is Finance a Difficult Major? What You Need To Know

Finance is a field that deals with money. It covers a range of topics, including money management, investments, and markets.

Finance degrees usually requires a strong understanding of math, especially statistics, and can be hard for some students. Keep reading to learn about the difficulty of finance majors.

How Hard Is a Finance Major?

While the definition of ''hard'' varies from person to person, finance can be a hard major. This is especially true for those who find mathematics difficult.

Students often need to have taken courses in economics and statistics before they begin their major. Within the major, they'll tackle topics that require solid math skills to understand.

Finance Major Overview

Finance majors teach students how to manage money. They cover things like financial markets, investments, and general money management principles.

Some colleges and universities offer finance as its own major, while others offer it as a concentration within a business administration program. Finance degrees may also have their own concentrations.

Common Course Work for a Finance Major

Finance majors often start by learning the basic principles of business and finance. They may take courses that cover topics like:

• economics
• finance ethics
• investments
• portfolio analysis

Additionally, students can tailor their degrees to their intended career path with electives. These may include courses that cover things such as:

• corporate finance
• information systems
• management
• personal finance

Finance Concentrations

Some colleges and universities offer concentrations for finance majors. Like electives, these concentrations allow students to tailor their degree program to their career goals. Common concentrations include the following:

• Banking concentrations teach students about bank operations and management. It's ideal for students who want to go into roles in the banking industry.
• Corporate finance concentrations focus on finance within a corporate setting and how finance affects businesses. A concentration in corporate finance can lead to careers like director of finance or CFO.
• Investment concentrations help students understand how to navigate Wall Street and investment banking. This concentration sets you up for careers in securities, commodities, and other financial services.
• Personal finance concentrations are for those who want to help individuals manage their money and are a great choice for those wanting to become personal financial planners.
• Risk management concentrations teach students how to identify and handle financial risks and can help you land jobs in the insurance industry.

The specific concentrations that are available will depend on your school and program. Not all programs offer finance concentrations.

Bachelor's Degrees in Finance

A bachelor's degree in finance is typically the minimum degree you need to enter the field of finance. Bachelor's degrees in finance usually take about four years of full-time study to complete.

Some bachelor's degrees in finance will require you to participate in an internship or some other form of hands-on experience. However, this will vary between programs.

These programs will prepare you to work in roles like financial analyst, financial consultant, personal banker, and risk analyst. They may also qualify you to sit for the Certified Financial Planner (CFP) exam.

Master's Degrees in Finance

A master's degree in finance is an advanced degree for those who want to further their finance careers. These degrees take about two years of full-time study, but accelerated and part-time programs are also available.

A master's in finance can lead you to leadership roles within finance and qualify you for advanced certification. Some colleges and universities offer bachelor's-to-master's finance programs that allow you to earn both degrees in five years.

Should I Major in Finance?

Whether or not you should major in finance depends strongly on your career goals. If you're interested in a role as a financial analyst, finance manager, financial advisor, or something similar, finance is usually the best major.

Additionally, consider your skillset. If you're good with things like statistics and data analysis, working in finance may be an excellent career path. However, if these aren't your strongest skills, you may want to consider something else.

FAQs About Finance Majors

Below, we've answered some frequently asked questions about majoring in finance.

Is an Online Finance Degree Easier?

Many people find online degrees, including online finance degrees, to be easier simply because they're more flexible. They don't require you to live on campus or commute to campus, and you can work your education around your schedule.

However, studying online requires self-discipline and organization. If these are things you struggle with, you may prefer the consistency and stability of on-campus programs.

Is a Finance Degree Worth It?

For those who want to work in the finance industry, a finance degree is worth it. Many jobs and certifications in finance require at least a bachelor's degree. You can make yourself more desirable in the workforce by also choosing to double major in finance with another in-demand degree.

Additionally, according to the Bureau of Labor Statistics, roles in finance, such as financial analysts, finance managers, and personal financial advisors, often make great salaries. These roles are also expected to increase in demand over the next decade.

Does a Finance Degree Require Math?

Finance degrees do require math. At a minimum, you'll be required to take statistics, but many concepts within finance, like economics, accounting, and data analysis, require a firm grasp of math concepts.

How Long Does It Take To Earn a Finance Degree?

Earning a bachelor's degree in finance usually takes four years of full-time study. A master's degree averages about two years of full-time study.