A finance major learns how to work with businesses to streamline operations through financial planning, investing, problem-solving and budgeting. The major draws on mathematical and statistical principles, preparing students to not only be excellent with numbers, but to also work with clients, communicate efficiently and make research-backed decisions. Students in finance and financial management services majors learn how finance professionals are key to helping businesses make and keep their profits.
What Is a Finance and Financial Management Services Major?
A financial management services major, which goes under the umbrella of a general finance major at some institutions, is for future business professionals who want financial training and a well-rounded liberal arts education. Students will learn economic, social and entrepreneurial methods for succeeding in this field. Through coursework, finance majors are prepared to analyze and predict the movements of the stock market, understand the financial history of a company and create a long-term financial plan, and advise investment options for individuals or companies. A finance major differs from one in accounting because it provides students with a more general education of banking, financial markets and economics, and extends lessons on communications, best practices for the industry and market analysis. Accounting is a more specialized area of business. Finance majors also have the opportunity to gain people skills and knowledge of human behavior through principles of psychology, which is helpful for anyone in business.
Common Coursework Finance and Financial Management Services Majors Can Expect
Coursework for a finance major starts with foundational math and economics classes like introduction to economics for business; calculus; and strategic cost analysis. Other broad introductory classes are in accounting, management, business law and ethics. More specific courses for this major may include international finance; econometrics; case studies in finance; urban fiscal policy; corporate valuation; impact investing; the finance of buyouts and acquisitions; international banking; business communication; and principles of marketing. Besides the necessary math and economics courses, schools may require credit hours in humanities, social science, literature and language for a well-rounded education. Finance majors are usually not permitted to minor in another area of business, so possible minors are political science, foreign language, communications and psychology. Study abroad is available for students in a finance major, and most programs recommend planning for a semester abroad early on in the degree process. Finance students can gain experience through internships in an area of interest and can find out about them through business school advisers, alumni, student organizations and professors.
How to Know if This Major Is the Right Fit for You
A finance major is right for students interested in business, personal finance and investing. People who work in finance are able to look at the bigger picture of the markets and the economy while making individual financial plans. Students will succeed in this major if they are organized, detail-oriented, good at communicating and come in with strong mathematical and statistical skills. If you want to help businesses and individuals make money, this is the right major to study. Finance majors have to think about the short- and long-term implications for investing and other financial decisions, as well as helping clients by finding solutions and creating plans. Having a finance background is also beneficial to those in this major because they can use their knowledge in their personal financial decisions.