Paper Example on Invest in Your Future: Researching a Degree for Career Success

Getting a degree is among the biggest investments that one makes in life. Other than the effort, time, and money spent earning it, it largely determines the career that one gets into, which, in turn, affects several aspects of their lives (Loveless). As such, carrying out extensive research before settling on the degree to pursue is essential. I have always loved numbers and have had a keen interest in the working of financial markets for a long time (Belousova et al. 145). Therefore, I have always known that I will pursue a degree in finance. However, I have several questions regarding this choice. For instance, I would like to know what precisely a finance major entails. Moreover, in a world that is drastically changing and with technology replacing various professions, I would like to know the employability of the degree as well as the salary scale. In light of these questions, this paper will dwell on answering these questions.

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Generally, a finance major incorporates lessons on investment decisions, financial planning, and analysis of expenses. Classes include economics, accounting, maths, as well as psychology (Wei et al.). As a finance major, one studies the past performance of a company and uses the information to predict how the organization will perform in the future. They are also charged with communicating information meant to champion strategic changes within the organization. Looking at these tasks, it is clear that, above a good grasp and passion in mathematics and statistics, one requires various soft skills such as communication to succeed in this area (Byrne and Lees 167).

Income is one of the main determinants of the career that one chooses (Chi et al.). While people are advised to follow their passion, they should also ensure that the degrees they choose will enable them to pay student loans and lead decent lives. In the U.S., a finance major earns an average of $60,000. However, as stated above, one can get into a variety of careers with a finance major. The career chosen determines the salary that one receives. For instance, investment bankers can earn an average of $250,000 annually, while management consultants make an average annual salary of $86,000 (University of the People). Other than tech degrees, wages in finance are among the highest in the job market.

As much as the salaries are friendly, it is also essential to consider the job market before settling on a degree (Lobo and Burke-Smalley 78). While the job market has undergone several changes, finance major remains a competitive course. Since finance is a broad area of study, a finance major offers one a wide variety of career options, including management consulting, investment banking, corporate finance, risk management, among others. Besides, the course provides one room to specialize and progress career-wise (Whitney 21). With the rise of globalization, a finance major also offers one an opportunity to work abroad.

The above discussion has shed more light on the various aspects of a finance major. The course majorly focuses on mathematics, accounting, and economics. Its market remains competitive with a wide variety of careers that one can venture into. Moreover, the discussion has shown that the course earns one high wage. As such, I believe I have made the right decision to pursue a finance major.

Annotated Bibliography

Belousova, Tamara A., et al. "The financial literacy assessment among students majoring in the field of finance." EurAsian Journal of BioSciences (2019): 141-148.

One requires certain skills to get into the field of finance. To this end, this paper presents a study meant to assess the financial literacy of students pursuing finance courses. It established that this competence is of great importance to this population of students. However, the paper also found out that there exist specific gaps in knowledge among the students, and hence there is a need to modify bachelor's training programs.

Byrne, Darren and Dave Lees. "Finance and Accounting-Beyond the Numbers with Self-Leadership." Contemporary Issues in Accounting (2018): 167-186.

While finance major mainly focusses on economics, accounting, and maths, to succeed in the field, one also needs to have various soft skills. In this paper, the authors sought to establish the importance of learning and self-leadership in the area. Other soft skills that employers look for, according to the authors, include problem-solving skills, creativity, and communication skills. The authors hold that self-leadership enhances the acquisition of other skills. The study involved an analysis of existing literature and hence is credible.

Chi, Hsingkuang, Hueryren Yeh and Tingwei Guo. "Salary or job interest? How salary and job interest moderates the willingness to apply for a job." Asia-Pacific Journal of Business Administration (2018).

Salary and job interest are among the primary factors considered when one is choosing the degree to pursue. In this study, the authors sought to establish how each of these factors affects one's willingness to apply for a particular job. The findings revealed that both positively affect one's desire to get into a career. However, it was determined that job interest has a greater influence than salary.

Lobo, Bento J. and Lisa A. Burke-Smalley. "An empirical investigation of the financial value of a college degree." Education Economics 26.1 (2018): 78-92.

The authors sought to establish the financial value of a degree in the United States using indicators such as time-to-graduation, tuition levels, and debt financing. Generally, the study confirmed that a university degree is worthwhile. However, it was determined that the private value of degrees is on a decline. The authors recommend that debt financing has higher returns than self-financing. However, it bears a greater risk.

University of the People. "Is a finance degree worth it? Everything you need to know." 2020. University of the People. 3 May 2020.

This article is meant to guide students to decide whether to pursue a finance degree or not. It generally answers all the questions that an aspiring student could have. It looks into the average salary that one is expected to earn as well as the marketability of the course. The academic requirements to pursue a finance major, as well as its costs, are also explored. Moreover, the article gives the student a feel of what the job descriptions and risks are, as well as the skills required to succeed in the field.

Wei, Hongliang, Zesheng Mao and Hui Wang. "Analysis on the Current Situation and Countermeasures of Research-Based Teaching in Finance Major in Finance and Economics Universities." 2018 2nd International Conference on Education, Economics and Management Research (2018).

This study explored the main teaching models used in financial colleges. It established that research-based teaching is among the most used models. It helps nurture the talents that students need to succeed in the modern financial era. However, the authors note that the implementation of the model is hampered by gaps in the curriculum, shortage of resources, and backward concepts among both the teachers and students. Measures that can help improve the situation, according to the authors, include improvement of the curriculum, better use of funds, as well as a change in the views of teachers and students.

Works Cited

Belousova, Tamara A., et al. "The financial literacy assessment among students majoring in the field of finance." EurAsian Journal of BioSciences (2019): 141-148. <http://www.ejobios.org/article/the-financial-literacy-assessment-among-students-majoring-in-the-field-of-finance-6185>.

Byrne, Darren and Dave Lees. "Finance and Accounting-Beyond the Numbers with Self-Leadership." Contemporary Issues in Accounting (2018): 167-186. <https://link.springer.com/chapter/10.1007/978-3-319-91113-7_9>.

Chi, Hsingkuang, Hueryren Yeh and Tingwei Guo. "Salary or job interest? How salary and job interest moderates the willingness to apply for a job." Asia-Pacific Journal of Business Administration (2018). <https://www.emerald.com/insight/content/doi/10.1108/APJBA-09-2017-0086/full/html>.Lobo, Bento J. and Lisa A. Burke-Smalley. "An empirical investigation of the financial value of a college degree." Education Economics 26.1 (2018): 78-92. <https://www.tandfonline.com/doi/abs/10.1080/09645292.2017.1332167>.

Loveless, Becton. "Benefits of earning a college degree." 2020. Education Corner. 3 May 2020. <https://www.educationcorner.com/benefit-of-earning-a-college-degree.html>.

University of the People. "Is a finance degree worth it? Everything you need to know." 2020. University of the People. 3 May 2020. <https://www.uopeople.edu/blog/is-a-finance-degree-worth-it-everything-you-need-to-know/>.

Wei, Hongliang, Zesheng Mao and Hui Wang. "Analysis on the Current Situation and Countermeasures of Research-Based Teaching in Finance Major in Finance and Economics Universities." 2018 2nd International Conference on Education, Economics and Management Research (2018). <https://www.atlantis-press.com/proceedings/iceemr-18/25896870>.

Whitney, Dennis. "Advancing careers, making a difference: CMAs throughout the world often share their stories about their road to achieving the certification and how it has helped them in their jobs." Strategic Finance 97.10 (2016): 21-23. <https://go.gale.com/ps/i.do?id=GALE%7CA459634930&sid=googleScholar&v=2.1&it=r&linkaccess=abs&issn=1524833X&p=AONE&sw=w>.