Is Business and Finance the Right Degree for You?

Finance is more than entering numbers into a spreadsheet. It’s the backbone of every business, helping to determine how companies fund and operate their enterprises and whether or not they see a profit. And it touches almost every aspect of a business. From the market analysts who research a potential client base to drive sales, to purchasing agents who decide which products to buy and sell, to the accountants who manage every monetary transaction, everyone is influenced and impacted by their company’s finances. But these people are more than just math whizzes—they have a wide variety of skills that help them succeed in business and finance. While there are many concentrations for Business Administration majors, if you’re considering Finance, you need to also consider your innate skills and your plans for the future.

A Business and Finance Degree Might Be Right If You Are…

• A Problem Solver: Mathematical equations aren’t the only problems you might need to solve in a finance role. New tax laws might complicate your bottom-line projections, or something in the global landscape might have far-reaching implications. An audit might uncover an accounting error, or the budget might be inadvertently overspent. No matter what type of problem arises, you need business and finance acumen, a calm demeanor, and the ability to look at the bigger picture. That way you can find innovative solutions that you can present with confidence to help your business succeed.

• You Are Tech Savvy: It’s been a long time since budgets, plans, and financial reports were produced by hand. Today, the way you handle transactions, build financial forecasts, create reports, and even communicate results, are all done with the help of technology. That means that you need to have strong computer skills. You should know how to navigate accounting software and be familiar with the Microsoft Office Suite, including how to create spreadsheets in Excel. You should also be comfortable with learning new software that can help you manage and analyze data and create financial models.

• You Can Make Informed Decisions: Even if you don’t make the final financial decisions for your organization, you should still be able to think critically and make well thought-out recommendations that can positively impact the bottom line. Using research, data, and analysis, you should be able to examine various business scenarios to provide the executive team with a variety of sound options for action. Other departments, such as marketing and sales, will also rely on the financial data you provide to make decisions and take action. 

• You Are a Good Communicator: Communication skills are almost as important as your financial know-how. In the workplace, you will often give presentations to administrators or explain financial concepts or decisions to individuals in other departments. You need to communicate the financial side of the business clearly and without the use of jargon. As a good communicator, you should also cultivate positive and professional interactions with others. This will help you build productive relationships with your team members and supervisors.

• Be a Lifelong Learner: In the world of finance, there’s always something new to learn. Whether it’s new tax laws, regulations, currencies, or software that streamlines processes, the knowledge you can acquire and tools you adopt can add to your expertise. If you consider yourself a lifelong learner and like to acquire new skills, a degree in business and finance may be the right fit for you.

A Business and Finance Degree Might Be Right If You Want to Be…

• Financial Analyst: As a financial analyst, you help a company forecast its financial outlook. You analyze the budget and current income and research industry trends to create models that can predict what the company’s financial future might look like. Your goal is to make sound financial recommendations that will help your organization achieve profitability.

• Tax Associate: As a tax associate, you help the accounting team prepare tax records and returns. You develop in-depth knowledge of tax laws and reporting requirements, and make sure your organization complies with all federal, state, and local regulations. You might also help with reports on revenue, expenditures, and payroll, and make recommendations about what deductions to claim.

• Data Analyst: As a data analyst, you collect and analyze data such as sales and expenditures, employee salaries, and even stock prices. You’d examine the data, looking for patterns that can inform the decisions made by accountants and administrators.

• Financial Planner: As a financial planner, you help individual clients or businesses achieve their financial goals, monitoring progress along the way. In addition to your degree, you will need different levels of certification depending on the clients you serve.

• Entrepreneur: If your plan is to own your own business someday, a foundation in business and finance is a good place to start. Take your good idea, build a business plan, and work to enlist financing resources so you can bring it all to fruition.

At Limestone University, we offer a Bachelor of Science in Business Administration-Finance that can prepare you for a rewarding, entry-level career in corporate or consumer finance. The program is also offered online so you can fit your class work into your already busy schedule.

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