“Like all learning, financial education is a process that should begin at an early age and continue throughout life. This cumulative process builds the skills necessary for making critical financial decisions that affect one’s ability to attain the assets, such as education, property, and savings, that improve economic well-being.”
– Alan Greenspan, economist and former chair of the Federal Reserve of the United States
My five reasons why I pursued a finance degree in college
- Finance and money will always be a part of life.
- Knowing about money is a powerful tool that helps others.
- Finance very interesting and ever-changing.
- The financial industry is generally pretty steady for job growth.
- I want to challenge the “only men study finance” stereotype.
Let’s break these down a bit more in detail.
Finance and money will always be a part of life
Whether you know it or not, money and finance will always be a part of your life and future. Harvard Business School notes that “finance is ubiquitous,” which means it will always be present and found everywhere.
If you don’t want to be broke your whole life, it’s probably best to know the basic things about money, such as the basics of saving. You do not have to have a finance degree to learn finance. If you don’t have any interest in finance, you will still notice that finance 101 is the backbone of all sorts of companies and is a big part of what keeps them running.
Knowing finance to help others
Knowing how to help others with money can be extremely helpful. I decided to major in finance because I wanted to be an expert on things like saving for college, planning for retirement, and using investing in creating a stable future for people.
Even if you know a bit of information on a financial topic to help a friend or family member make smarter financial decisions, you are helping other people with their money and future.
“Success isn’t about how much money you make; it’s about the difference you make in people’s lives.” ― Michelle Obama
Finance is exciting (more than it sounds)
The financial system, as a whole, is hugely complex and incredible. Finance is a broad concept that involves the banks we use, how we pay for the items we want, and how we decide to invest in the market or own part of a public company.
Finance also is a significant part of our favorite companies, both large corporations and small businesses that we love and know.
Finance is generally a steady industry in the long-run
According to the U.S Bureau of Labor, analysts predict that careers in financial services and operations will grow by around 7% from 2018 to 2028. This type of growth is much faster than the growth of other professions or occupation paths. People who pursue finance degrees will continue to be needed, and the growth trajectory is not going to slow down.
Only “men” work in finance
I HATE this fact about the finance industry, and part of the reason I went into the field was to challenge this status. If you don’t believe the stereotype, women account for only 18% of finance jobs.
Although finance has always been a male-dominated industry, there has been significant change and encouragement for more women to go into the field. If you are a girl who wants to go into finance, please do not let anyone tell you that it is for men only.
“In the more innovative, non-established areas of finance, it does not matter if you are a man or a woman. If you produce good work, you can build a career. Go where you have less competition and fewer requirements in the form of incumbents. Be involved, be persistent, and have more room to be successful, grow, and shine.”
— Alumna May Seeman MA 89, former president and CEO, MEAG New York
Pursuing a finance degree is not for everyone. Although students with finance degrees may tend to enjoy learning finance more than the average person, you do not have to be an expert or graduate to learn financial skills. If fact, taking time to learn finance is a valuable skill that you can have for life.
Ashley is a finance graduate from the University of San Francisco and currently works at a financial technology startup in San Francisco that is focused on providing affordable and accessible 401(k) retirement plans to other startups and small businesses. Prior to working at a startup, she was an associate at a large private wealth management firm working with high-net-worth clients. She is born and raised in Orange County, CA, and loves spending time at the beach, in a pool, reading, and with her friends.
