why i want to study finance essay

why i want to study finance essay

Why studying finance is important for my future

1. Introduction

Student learning in this course is achieved through a combination of theoretical, hands-on, and reality-based methods. As of today, business and finance majors typically sponsor 60% of incoming analysts at investment banks. At the undergraduate level, finance majors develop strong analytical, quantitative, and writing abilities as well as leadership skills. According to Payscale, the starting salary for business and finance graduates is between $48,853 and $63,367. There are many different spectacular career paths for business and finance students, including corporate affairs, financial management, investment banking, retail banking, private banking, e-commerce, and money management positions. Data shared by the National Education Association from the 2010-2011 academic year showed that 14.7 percent of newly minted finance majors found full-time jobs compared with 9.1 percent of history majors and ten percent of English majors.

Studying finance will prepare you to create and analyze financial plans and assist individuals and organizations in building and maintaining solid financial foundations. Finance also focuses on how individuals and investors evaluate risk and return and how risk impacts the value of different financial securities. The field of finance provides an excellent foundation in all functions of business and portion of the academic foundation requirement associated with the field of study endorsed by the local CFA Society. This class provides opportunities for high school students to compete and succeed in local and national educational challenges.

2. The significance of finance in today’s world

The importance of finance in today’s world can be seen from the fact that it plays a significant role in everyone’s lives, from an individual to a country. Most of the things we do in life need money, whether it be buying clothes, repairing our room’s ceiling or travelling from one place to another, thus making finance essential in modern living. Without the aid of finance, it is impossible to accomplish or acquire most of life’s essentials and, hence, much of the world today revolves around money. Alongside this, most big decisions in a country are influenced by the availability of money in a contentious way. For example, if there is a war, we can see the government making decisions taking into consideration the toughness it would cast on the country’s economy. Meanwhile, the economy affects living standards in both the macro and micro levels. For a single person, there are differences in the living standard between having a luxurious life, which is made possible due to high income, and having a simple life. For a country, some suffer from poverty and some prosper, due to the strong or weak economy of their country. Since the economy of a country strongly affects living standards, the support of a stable and strong economy should be portrayed, which is where finance comes into the equation and strives to establish a robust economy through appropriate money management.

Finance is the application of economic and accounting principles to the acquisition and allocation of funds in the private and public sectors. I find finance significantly important in today’s world, where the world is rapidly becoming a more modern and interdependent place. Just by looking at the news headlines, it is clear to see that finance is one of the most significant aspects of the world today. Following this, I hope to pursue further studies on finance in the future.

3. Personal reasons for choosing to study finance

In addition to the basic influence of finance throughout my life, my research on careers, with exposure to various different job types over the past year through a co-op position with the Discovery Centre, has directed me towards management and finance related opportunities. I was originally on track to be an active living/sports physiotherapist since that is my other passion and my highest career aptitude computer test result. Furthermore, like many other high school students confused about what they should do with their life and having the large teen bug of “I am never going to be good enough” grade-wise to complete a finance degree, I simply clicked the “related careers” button to see my options. To my surprise, I could combine volunteering, teaching, and finance in a wealth management career, which I enjoy and benefit from significantly due to my involvement in many community service programs since age six. I looked into CFP and it just clicked for me, as even my extracurricular school clubs that focused on pandemic economics and entrepreneurship teamed me with one young individual who had the goal of becoming a finance professional.

Finance is an important aspect of my life. One of my parents is in a very safe corporate career, and the other is in the risk-taking but often rewarding job of farming. I see investments and hedging/grain marketing as important to the farm’s financial success, and in my parents’ early thirties, I have listened to conversations of friends and family around retirement. I am 18 and already have a Registered Education Savings Plan (RESP) set up for me by a relative that will ease the financial burden of a post-secondary education. I have seen first-hand the financial and investment aspects of life my parents go through, and therefore finance is definitely present in my reality compared to many other teens and young adults.

4. Career opportunities in the field of finance

However, it is not necessary to choose finance immediately; it will be in the first years of the course, when you will have a clearer idea of what the profession of an economist and what that of a financier really is. If you then learn that financiers are often the subjects who occupy the roles of maximum power and prestige in the society of those professions to which an economic course allows access, you come to finance. Ours is a complicated society, governed by large institutions that from time to time fail. As a result, the system, which I think is also known to some non-specialists, is collapsing, because the system works as a whole. Now, finance is the only study that provides you with adequate institutional vision and provides you with the overall tools you need to work at your best. There are various ways of working in finance; the most targeted and specific, such as Central Banks, the Consob or the Banca d’Italia, can be accessed with the master’s degree in economics and finance, which is activated at the end of the course. More general positions, which open access to many other areas, will open up with the master’s degree in finance.

Why studying finance is important for my future? Because the current economy is governed by finance, both at the business level and at the social and institutional level. Because finance is the way in which we implement our ideas. Are you interested in the economy, but you don’t see yourself being just an economist and you’re wondering what else you can be? Well, think that all the big names in the story, those who have put Italy on the map, like Einaudi or De’ Stefani or Colombo, have studied economics; Galilei or Bologna, on the other hand, studied finance. You don’t believe it and you don’t remember having studied anything about finance in school, do you know why? Because in the past the economy was still governed by finance, while today we consider finance just a part of the economy and detached from it. The presence of the word Finance in the name of an economics course is not a small thing; it indicates that the course is more closely related to specific sectors of the economy that use financial tools to solve specific problems.

5. Conclusion

Finally, I hope that this work has helped with your calculations about whether to study finance, whether to have an MBA, and if you are still deciding whether or not to work in the financial sector. It has also helped shed light on the interest, not only economic, but also the guilt of the job market for the professionals that we are becoming in college recently. And that salary is enough to live off of personal finance.

It is worth remembering that my focus is mainly on large companies where these areas operate. Those interested in the financial area can generally be divided into financial institutions such as banks, brokers, securities dealers, investment managers, investment funds, investment firms, brokers, local banks, and insurance companies.

The finance industry is an industry that has as its main players some learned people who have masters in finance, with or without an MBA, and allow for an astronautic future within the organization. We are living at the moment in which everything reaches its peak, and this peak of finance in the financial institution we need to have the most prepared people. After all, we are going to talk about people who are in contact with the money of an entire institution.

As you have seen, a person who studies finance can find a job anywhere, carrying on the work that best corresponds to them, with a fantastic salary, travel, grow technically, and of course, be a great capitalist. It is of psychological interest to all of us what we have seen in the financial sector, and still get job satisfaction.