Investment bankers, entrepreneurs, credit analysts, brokers, insurance agents and financial planners need knowledge of finance for their professions. Bachelor of finance programs have a variety of obligatory coursework that differs by institution, but often includes requirements to complete classes in accounting, economics, statistics, quantitative methods, mathematics, markets and banking. Liberal arts institutions also include non-finance courses, such as English composition classes, among graduation requirements.
Preparation for the Finance Major
In four-year finance bachelor programs, you are required to spend the first two years preparing for the finance major by taking courses that help you acquire the appropriate knowledge to undertake the more rigorous finance courses in later years of study. At Oregon State University, students take classes from among the business core requirements. The business core requirements include legal environment of business, introduction to entrepreneurship, introduction to statistical inference and business management processes. Michigan Tech University has a 48-credit core business requirement encompassing courses such as team dynamics and decision making, accounting and business law.
Non-Finance Classes
As a bachelor degree student, you will also be enrolled in non-finance coursework. Michigan Tech University students have mathematics requirements that are fulfilled by enrolling in college algebra, calculus for life sciences, data functions and graphs or statistical methods. They must also take science and laboratory courses in biology, chemistry, geology or physics. Arizona State University has a mathematics, as well as an English composition requirement. Oregon State University also has a public speaking and an English composition requirement.
Upper-Level Courses
In the latter years of study, you must enroll in advanced economics and finance classes. For example, Michigan Tech University offers foundations of taxation; management of technology and innovation; marketing research, introduction to digital marketing, micro- and macroeconomic theory, game theory/strategic behavior, public economics and econometrics. Oregon State University offers international economics. Arizona State's finance offerings include financial markets and institutions, investment strategies, managerial finance portfolio strategies and hedge funds, fixed income securities, derivative financial securities and international financial management.
Other Requirements
In your last semesters of study, you will have a chance to put the theory you learned into action, by getting practical experience in an internship. In addition, some colleges, including Arizona State University, require finance students to research and write a dissertation. Arizona State's internship and practicum are arranged and supervised by faculty members and practitioners. The university also has a research requirement in which students must review literature in the field, research and collect and analyze data and write a thesis.
References
Writer Bio
Trudie Longren began writing in 2008 for legal publications, including the "American Journal of Criminal Law." She has served as a classroom teacher and legal writing professor. Longren holds a bachelor's degree in international politics, a Juris Doctor and an LL.M. in human rights. She also speaks Spanish and French.
The Finance sector is comprised of establishments primarily engaged in financial transactions, which involve the creation, liquidation, or change in ownership of financial assets. Almost every firm, government agency, and other type of organization employ one or more financial managers. Working in offices often close to top managers and with departments that develop the financial data those managers need, financial managers typically have direct access to state-of-the-art computer systems and information services.
Our finance graduates secure careers ranging from managing finances for startups to working in the biggest, most prestigious financial firms on Wall Street [read story: Rutgers Road to Wall Street]. Students must be Finance and/or Accounting majors to complete the program.
Key Facts
- Financial Managers commonly work long hours, often up to 50 or 60 per week
- Salary levels also can depend on the type of industry and location
- Financial institutions employ financial managers who oversee various functions, such as lending, trusts, mortgages, and investments, or programs, including sales, operations, or electronic financial services
- RBS students gain access to Wall Street through industry-connected professors and a dedicated career management team
Career Paths
Financial managers generally oversee the preparation of financial reports, direct investment activities, and implement cash management strategies. Managers also develop and implement the strategies for the long-term goals of their organization. A bachelor’s degree in finance, accounting, economics, or business administration is the minimum academic preparation for financial managers. However, many employers now seek graduates with a master’s degree, preferably in business administration, finance, or economics. These academic programs develop analytical skills and teach financial analysis methods and technology.
The duties of financial managers vary with their specific titles, which include controller, treasurer or finance officer, credit manager, cash manager, risk and insurance manager, and manager of international banking. Candidates for financial management positions need many different skills. Interpersonal skills are key because these jobs involve managing people and working as part of a team to solve problems. Financial managers must also have excellent communication skills to explain complex financial data. Because financial managers work extensively with various departments in their firm, a broad understanding of business is also essential.
Financial managers should be creative thinkers and problem-solvers, applying their analytical skills to business. They must have knowledge of international finance as financial operations are increasingly being affected by the global economy. In addition, a good knowledge of regulatory compliance procedures is essential.
Rutgers Business School provides students with the skills and industry connections they need to get jobs in the most prominent financial agencies in New York City and beyond. With easy access to the city from either campus, internships, networking events, and alumni connections on Wall Street are minutes away, and provide valuable experiences for our students.
Career Advice:
Watch: Fred Hoffman, Assistant Professor of Professional Practice and Rutgers Financial Advisory Board member, offers advice on finding jobs in fields you may not have considered before.
Sample Occupations
- Actuary
- Budget Analyst
- Claim Adjuster/Examiner
- External Auditor
- Financial Economist
- Financial Planner
- Market Research Analyst
- Securities Broker
- Underwriter
Where Graduates are Working
- Bank of New York
- J.P. Morgan Chase
- John Hancock Financial
- Merrill Lynch
- Northwestern Mutual Financial Services
- Schering-Plough
- State Farm Insurance Companies
Compensation
According to the 2012 U.S. Bureau of Labor Occupational Outlook Handbook, bachelor’s degree candidates in finance received offers with a median salary of $76,950.
How to Apply
- Learn more about the admissions process
- (PDF) Finance Major factsheet