Put Your Analytical Skills to Use With a Degree in Business and Finance
For those who enjoy facts and figures, a career in business and finance could be a perfect match. Let’s look at two of the most popular options, their requirements, plus growth and salary projections:
- Accountants and Auditors: Perhaps the most recognizable number crunchers of the business world, accountants and auditors ensure that tax returns are prepared and submitted. They also make sure that tax laws and regulations are being followed throughout the fiscal year, create budgets, and prepare internal reports that help managers make sound business decisions. A bachelor’s degree is generally required for entry into this field, though in a few cases an associate’s will do. A master’s degree in accounting or an MBA will make it easier to find a job, as will becoming a certified public accountant, or CPA. On average, accountants and auditors make about $65,000 a year, with an expected 13 percent growth in demand between 2012 and 2022.
- Financial Analysts: When business leaders need more specialized advice to make financial decisions, they turn to financial analysts. They are experts in spotting a sound investment for both businesses and individuals, and are able to explain why their recommendations are sound. Analysts are also able to prepare detailed reports, manage financial portfolios, and make long-term debt reduction plans. Perhaps their most important role is in understanding business and economic trends, and comparing current events to historical data to understand the current financial climate. At minimum, you’ll need a bachelor’s in economics, accounting, business, finance, or statistics for a financial analyst role, while many positions require a master’s in either business or finance. There are certifications available to financial analysts as well, such as the Chartered Financial Analyst credential. The median salary for financial analysts is $78,000, with an expected 16 percent growth in demand.
To succeed in the fast-paced world of finance, some basic skills are a must. For instance, attention to detail is crucial. Something as small as a misplaced decimal point could make a dramatic difference in an annual budget or debt-reduction plan.
Also, communication skills are vital. Listening is especially important, since people will be divulging private financial information and expecting advice that meets their specific, personal needs. Strong written and verbal abilities will come into play as well, since finance professionals will often be sharing complicated concepts with people who may require a layman’s explanation.
If you’re looking to succeed in this sector, there are tools specifically designed to support your efforts. For instance, accounting software such as Quickbooks, Lead Activity Analyzer, Accurate NXG, and ATX Total Accounting Office help accountants and auditors track data. There are also intuitive financial analysis tools available such as Delphi, Oracle E-Business Suite Financials, and ARES Corporation PRISM Project Estimator. All finance professionals can appreciate tax prep systems like Abacus Tax Software and Thomson GoSystem Tax, and also the variety of regulatory agency compliance software and project management programs available.
Contact us today to learn more about starting your business and finance career.
