It's no surprise that you're wondering about a finance job. These careers can be both lucrative and fascinating. Personal financial advisors get to help their clients navigate the world of money, financial managers get to do the same thing for their organization. And you can't help but think that truly understanding finance might also change how you handle your own assets.
When you’ve got a business mindset and an inclination for working with numbers, pursuing a bachelor’s degree in finance almost seems like the obvious thing to do. But, unless you know someone personally who has a finance job, you probably have some questions about the career paths available to students who graduate with a finance degree.
How many finance careers are there? You've probably head of high-profile careers like financial advisor or chief financial officer (CFO).
But what types of careers can you pursue with a finance major? What is realistic?
Keep reading and find out.
3 career pathways to consider with a Bachelor’s degree in Finance
Given the size and complexity of the finance industry, it should come as no surprise that there are a plethora of finance jobs.
Finance degrees include so much cross-industry training as well. Graduates from these programs can wind up in many different areas of business, healthcare organizations, investment banking, financial planning or wealth management companies and more.
But sometimes it's better to start off knowing some clear entry points into the field. Here are 3 of the most common routes you might choose after you graduate with a finance degree.
1. Financial analyst
Businesses and individuals often consult financial analysts for guidance on their investment decisions. You might see these professionals being referred to as “financial and investment analysts” for that reason.
A financial analyst may work on the buy-side or sell-side, and typically “assess the performance of stocks, bonds, and other types of investments1” according to the BLS.
As a financial analyst just starting out in your career, you might have a “junior analyst” title. Junior financial analysts are usually responsible for collecting data—which may involve reviewing a company’s financial statements—and using financial models to help senior analysts make informed decisions.
There are many types of financial analysts. The following are not entry-level positions and will require additional work experience and or certification in addition to a bachelor’s degree. Please check specific requirements of place of employment.
- Financial risk specialists – A financial risk specialist might be referred to as an equity research analyst, risk analyst, risk manager, risk specialist, [or] securities analyst. This role revolves around understanding the financial factors that threaten an organization most. Financial risk specialists monitor credit and market risks and may even make recommendations to help reduce threats to a company’s assets, earning capacity or general economic position.
- Fund managers – The Bureau of Labor Statistics states that fund managers work with either hedge funds or mutual funds and make buy or sell decisions based on market conditions, which can change at a moment’s notice. Fund managers guide people and companies through investment decisions to help increase their wealth.
- Investment analysts – These finance professionals work as part of a larger team. They mainly spend their days examining data to help inform their teams’ investment recommendations. Investment analysts research and analyze assets that may include stocks, bonds, currencies and commodities. They then present their findings to portfolio or investment managers.
- Portfolio managers – A “portfolio” refers to a group of investments made by an individual or a company. The CFA Institute® describes portfolio managers as “investment decision-makers.” 2 They help clients figure out which types of investments make sense for their portfolios.
- Ratings analysts – Ratings analysts evaluate this information to determine organizations’ abilities to pay their debts, which includes bonds. “Based on these evaluations, a management team rates the risk of a company or government not being able to repay its bonds,” the Bureau of Labor Statistics writes.
- Securities analysts – A securities analyst seeks high-yielding assets for clients and companies, the BLS explains. “They may use resources such as bond performance reports, daily stock quotes, market and economic forecasts, and other financial statements and publications.
2. Budget analyst
Budget analysts may work in either the public or private sector. They help organizations plan their finances, in addition to preparing budget reports and monitoring organizational spending, according to the BLS.2
As a budget analyst, you’ll routinely work with managers to develop budgets for upcoming projects and other initiatives. Budget analysts keep track of organizations’ spending across various programs and departments. Their duties also include “explain[ing] funding requests to others in the organization, to legislators, and to the public,” the Bureau of Labor Statistics reports.
Some organizations might use different titles to refer to their budget analysts. For example:
- Budget coordinator
- Budget officer
- Financial services officer
- Policy analyst
As you might’ve guessed, strong communication skills are equally as important as math and problem-solving skills in this profession. “Budget analysts must be able to explain and defend their analyses and recommendations in meetings and legislative committee hearings,” the BLS states.
If you love math and working with people, this finance career could be perfect for you!
3. Financial manager
According to the BLS, the role of a financial manager is not an entry-level one and requires a bachelor’s degree and five years or more of experience in another business or financial occupation.3
Financial managers typically prepare financial statements and business activity reports. They’re responsible for reviewing financial data to find opportunities for reductions, according to the BLS.
But this job is a lot more exciting than staring at spreadsheets five days a week. Part of a financial manager’s duty is to keep an eye on market trends and find new expansion opportunities.
These professionals are also key players in making financial decisions, acting as advisors to their company.
The BLS identifies multiple types of financial managers.4 The following are not entry-level positions and will require additional work experience and or certification in addition to a bachelor’s degree. Please check specific requirements of place of employment.
- Controllers – Controllers typically hold senior-level positions. Because they oversee accounting, audits and budgeting, controllers are heavily involved in preparing financial reports and forecasts. They also play a huge role when it comes to communications with government regulators.
- Treasurers and finance officers – These professionals oversee how organizations allocate budgets and raise capital. Treasurers and finance officers are tasked with ensuring organizations meet their financial goals. Additionally, their duties include creating financial plans in preparation for mergers and acquisitions.
- Credit managers – When organizations—such as commercial banks and other financial institutions—offer their customers lines of credit, these professionals lead the way. Credit managers determine credit-rating standards and credit limits, in addition to monitoring collections of past-due accounts.
- Cash managers – A cash manager is a finance professional who keeps track of an organization’s funds and is partially responsible for ensuring financial needs are met. Cash managers must be able to forecast whether their organizations will have shortages or surpluses of cash.
- Risk managers – Risk management consists of proactive measures taken to understand—and limit—the size and scope of financial risks an organization is subjected to. Ultimately, risk managers aim to help companies avoid financial losses wherever possible. “Among the risks they try to limit are those arising from currency or commodity price changes,” the BLS states. Risk managers may also be referred to as financial risk specialists, equity research analysts, risk analysts, risk specialists and securities analysts.
- Insurance managers – When you think about finance careers, insurance may not come to mind immediately. But insurance managers (as well as others who work in the insurance industry) are indeed quintessential finance professionals. They help organizations protect themselves against risks like worker's compensation on the job injuries or costs that come from a lawsuit.
What do you learn during a finance degree program?
As you can see, the finance industry encompasses a lot of ground—everything from personal advising, financial transactions and the stock market to 401k plans, business administration and corporate acquisitions. It’s a sprawling, multi-layered ecosystem.
The good news is that students don't have to choose their career paths right from the jump. Your education is your opportunity to feel out the areas of finance that you prefer.
At the undergraduate level, Finance majors gain rudimentary knowledge of the various types of business transactions finance professionals engage in. When you enroll in a Finance Bachelor’s degree program, you’ll learn how financial institutions and markets influence one another. You can also expect to discuss key concepts, like:
- How to analyze financial records
- Capital budgeting
- The time value of money
- Financial modeling
- Financial planning
- Business valuation
- Risk management
- …and more!
Is a finance degree worth it?
Careers in the finance field are plentiful. Whether you’re interested in corporate finance, working with individual clients or opportunities within government agencies, a finance career can take you so many different directions.
But will it offer you the kind of return on your investment you need? Education costs time and effort even beyond the costs of tuition, course materials and lost working time. Evaluating these costs against the potential for career growth, salary and more can help you make your decision.
Check out Is a Finance Degree Worth It? 4 Factors Impacting Your Finance Career Forecast.
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1Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Business and Financial Occupations, (accessed May 2024), https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-
2CFA Institute, What Is a Portfolio Manager?, (accessed May 2024), https://www.cfainstitute.org/en/programs/cfa/charterholder-careers/roles/portfolio-manager
3Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Financial Managers, (accessed May 2024), https://www.bls.gov/ooh/management/financial-managers.htm#tab-4
4Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Financial Managers, (accessed May 2024), https://www.bls.gov/ooh/management/financial-managers.htm#tab-2
