what are the pros/cons of having a degree in one course of study with a minor in finance

by Prof. Cleve Abbott II 8 min read

Pros of a finance degree One of the most lucrative Opens the door for entrepreneurship Gives you an international working opportunity You can work in diverse fields You have a chance to rise through the ranks Cons of a finance degree

Full Answer

What are the pros and cons of a minor in college?

Here are the pros and cons of having a minor in college. If you select one that complements your major (ie: Business major, Marketing minor) it can serve as an added boost to get you into the industry you want to pursue. It is additional specialized education, and can give you the added skills that can assist in your job search and career.

Should personal finance courses be obligatory in college?

Financial literacy in the United States is poor, but experts disagree whether making personal finance courses obligatory in college would fix the issue, the Wall Street Journal writes.

Does teaching personal finance improve financial decision-making?

But according to Lauren E. Willis, law professor at Loyola Law School in Los Angeles and an advisory board member for consumer protection nonprofit FoolProof, there’s little proof that teaching personal finance improves financial decision-making.

Is a minor worth it in college?

While a minor can be a great way to make the most of your college academic experience while simultaneously making yourself a more versatile candidate once you enter the job market, it can also create a more demanding workload. So, is a minor worth it? Let’s find out! What Is A Minor In College? A Brief Overview

Is a minor in finance useful?

Is A Finance Minor Worth It? You will stand out from other job applicants without a finance background if you have a finance minor in addition to your accounting, business analytics, marketing, or management degrees. Additionally, it can make you appear more attractive to hiring managers.

What minors pair well with finance?

5 Minors to Complement a Finance DegreeAccounting. Finance and accounting are complementary endeavors. ... Economics. Students pursuing this minor will develop an understanding of existing economic theories and concepts. ... Math. Finance is a math-centered career field. ... Business. ... Foreign Language.

What is the benefit of a minor degree?

Personal Interests The biggest benefit of declaring a minor is that it gives you the chance to study things that interest you on a personal level, even though those things may not relate to your future career. You may have an interest in creative writing but major in business and plan on going to business school later.

Does major and minor work more?

Most employers will tell you that your college major is more important than your minor, and many employers will stress that hands-on experience gained during college is the most critical hiring variable of all. But that doesn't mean you should ignore the potential edge a well-selected minor can give you.

What is the most useful minor in college?

Here are eight minors which will be important and useful in the 2020s.Creative Writing. Creative writing isn't just for future novelists or poet laureates. ... Multimedia Journalism. ... Urban Studies/Planning. ... Environmental Science. ... Queer Studies. ... African (or Africana) Studies. ... Business. ... Animal Studies.

What major goes well with finance?

Good double majors for a finance major include accounting, marketing, and other business-related majors, although other options could also serve a similar role.

Does a minor degree matter?

Minoring in college is worth it for students who wish to gain knowledge on a secondary subject matter, usually related to their major. Getting a minor is also worth it for students who wish to explore a particular interest or passion in life, which can be used as a basis for deciding on a minor.

Should I take a major and a minor?

Most colleges do not require a minor to earn a bachelor's degree. A minor can complement your major and help job applicants stand out. Before declaring a minor, weigh the costs against the benefits. Choose a minor based on your interests, goals, and major.

Does minor count as a degree?

Is a Minor a Degree? A minor is not a degree. It's a concentration that you get in addition to your primary field of study, known as your major. Although minors can often round out your degree and provide depth and context to your education, they are not considered to be stand-alone degrees or certifications.

Can you get a job with a minor degree?

A minor is more relevant to a job in a few different situations. For example, if you want to apply for a job that doesn't align to your major, but aligns with your minor, including your minor allows you to connect your interest and knowledge to a relevant subject area.

Is it smart to double minor?

Value of a Minor Double-minoring allows you to explore two areas that interest you personally or that you think you may want to specialize in during graduate school. Since most graduate school students pick a specialty, a double-minor will help you on your way to choosing that specialty.

Is it better to double major or double minor?

The Takeaway: If you're truly interested in another area of study, and want to immerse yourself completely in it, double majoring might be the right path. If you're just curious about it or want to try something new, minoring is probably best.

You Have Options

A degree in finance provides you with a lot of opportunities. You can choose to go into the public or private sector, and you have the option of working for a large corporation or an individual clientele.

In-Demand Skills

The job market is very competitive right now, and many employers are looking for people with specific skills. Students who get a degree in finance will come out of school with all the skills needed to work as an accountant or financial planner.

Personal Development

When you get a degree in finance, many benefits go along with it – personal growth is one of them! You’ll learn more about business management skills and how different financial transactions work. Graduates have a chance to expand their knowledge by taking classes on subjects like real estate, corporate finance, and statistics.

Room to Grow

A degree in finance also provides room to grow. As you gain experience in the workforce, you can move up the corporate ladder and take on more responsibilities. If you want to start your own business, a degree in finance will give you the skills you need to do so.

Lack of Job Security

If you were to study finance, there would be a lot of changes over the years. Since we are in an economic crisis, jobs could become scarce. Some companies go under or move their headquarters overseas; they lay off all employees working at these locations. So, if your job is in finance, you may have to do a lot of searching for another one.

Training is Limited

Another drawback to getting a degree in finance is that it only teaches you the basics. You will learn how financial transactions are processed and what happens during different economic events. Still, this knowledge won’t be enough to work independently or for a company that does not rely on financial transactions.

Time Consuming and Expensive

One of the drawbacks of getting a finance degree is that it takes time and money. The coursework is challenging, and you’ll have to spend many hours in the library or do research online. In addition, most finance degrees cost a lot of money.

What does it mean to get a degree in a shorter time?

For some, this means jumping into the workforce earlier and getting a head-start on their career.

What is dual degree?

Pros and Cons of a Dual Degree Program. Also known as a Combined Degree Program, this college path allows you to study for two different degrees simultaneously. That’s right, if you want to earn your associate’s and bachelor’s, or bachelor’s and master’s, or two master’s degrees at the same time, there’s likely a program out there for you. ...

Can dual degree programs make you lose money?

Since dual degree programs have an intense workload, it leaves little time for other activities. Students might find it difficult, for example, to maintain a part-time job while studying in a dual degree program, which can make finance an issue. And while there are certainly financial aid programs to help with that, some aid might disappear after earning your first degree.

Does financial aid disappear after first degree?

And while there are certainly financial aid programs to help with that, some aid might disappear after earning your first degree. For every pro, there is a con, and vice versa. It is important to weigh each during your decision-making process.

Is it possible to get two degrees at the same time?

It makes sense that earning two degrees simultaneously would equate to more work. In such a concentrated amount of time, the courses can feel overwhelming. Only students who believe they can handle the stress with their organization, preparation, and dedication should consider undertaking a dual degree program.

What is a pro in a minor?

PRO: Effort Recognition. Minoring in something means you’re going above and beyond the bare minimum. That effort can impress potential employers as you’re searching for jobs after graduation. It’s an extra bonus if the minor is in an area applicable to them.

Is a minor a supplementary major?

All that effort and attention can detract from your main focus— your major. A minor is supplementary, it shouldn’t take center stage.

Is a minor good for college?

A college minor can be a great addition to your degree, but there are some drawbacks too. Here are the pros and cons of having a minor in college.

What are the benefits of work study?

Some benefits to keep in mind include: You may gain experience in your field. Most colleges attempt to match up students with work-study jobs that line up with their chosen course of study.

Why do students need work study?

Work-study programs can help students afford tuition, books and supplies, rent, or other expenses associated with higher education.

Does EFC affect financial aid?

This could potentially increase your Expected Family Contribution (EFC), which may reduce the amount of financial aid you are eligible for. With work-study jobs, the amount you earned is not held against you. Most jobs are located on campus.

Does work study count on FAFSA?

This means you may be able to take out fewer college loans and accumulate less debt in the long run. Earnings from work-study do not count on your FAFSA.

Do work study jobs pay minimum wage?

Most work-study jobs only pay minimum wage, which may not be enough to support recreational activities or educational expenses. While most jobs available to students won’t pay top-dollar, work-study jobs may ask students to handle more complicated tasks compared to other low-paying jobs. Work-study hours are usually limited.