What Is a Finance Major? Everything You Need to Know Before Choosing This Path

Are you curious about what a finance major involves and why it's such a sought-after field of study? A finance major equips students with knowledge in areas like financial analysis, investment strategies, and risk management, preparing them for dynamic careers in banking, corporate finance, and beyond.

India's GDP grew at an astounding rate of 8.2% in 2023-24. With such growth, there is now a growing demand for finance professionals across industries. If you are analytical, goal-oriented, and eager to solve real-world financial challenges, then a career in finance is right for you.

In this blog, you can learn everything you need to know about pursuing a finance major—from the skills you'll develop to the potential career paths. Read on to see if this exciting and versatile field aligns with your aspirations!

What is a Finance Major? Understanding the Basics of a Finance Major

A finance major focuses on the principles and strategies of managing money, investments, and financial resources. It encompasses analyzing markets, evaluating risks, and making informed financial decisions. 

Finance is inherently interdisciplinary, blending elements of economics, accounting, and business to provide a comprehensive understanding of financial systems. In today's interconnected global economy, finance plays a critical role in driving growth, managing risks, and optimizing resource allocation for individuals, businesses, and governments. 

Whether it's navigating investments or strategic financial management, studying Finance Major can help you develop skills to succeed in an evolving economic landscape.

So, are you cut out for a career in finance? Find out below.

Who Should Consider a Finance Major?

A finance major is an excellent choice for individuals who are good with numbers and have the acumen to solve complex financial problems. If you enjoy interpreting numbers, deriving vital inferences from them and making strategic decisions, studying Finance Major could be best for you.

Finance requires both critical thinking and practical application, making it ideal for those who love challenges and are eager to develop versatile career skills.

Key Skills and Traits:

• Analytical Thinking– Ability to interpret financial data and identify trends.
• Strong math Skills– Comfort with calculations and quantitative reasoning.
• Problem-solving Skills– Aptitude for addressing financial challenges creatively.
• Attention to detail – Precision in managing financial records and transactions.
• Communication skills – Effectively conveying complex financial information.
• Interest in global markets – Curiosity about economic trends and investments.
• Goal-oriented mindset – Motivation to achieve financial success and innovation.

Let's have a look at the course programs of major finance major degree programs.

Coursework in Finance Major Degree 

A finance major includes a mix of foundational and specialized courses that equip students with the knowledge and skills needed to thrive in the field. Below is an overview of key subjects associated with Finance Major, along with a comparison of topics and learning objectives.

Core Subjects and Brief Descriptions

Here is a table that clearly shows the main topics and goals of every type of finance course. 

Now, let's have a look at the main advantages of pursuing a financial major.

If you want to learn about the key metrics to measure a company’s financial performance, consider signing up for upGrad’s Financial Analysis course.

Benefits of Pursuing a Finance Major

Choosing a finance major offers a wealth of advantages, both professionally and personally. The dynamic and interdisciplinary nature of a Finance Major program equips students with invaluable skills and opens doors to diverse career opportunities. 

In today's evolving global economy, finance professionals are in high demand, providing stability and job security. Here's how pursuing a Finance Major course can benefit your future:

Key Benefits:

• Strong Career Prospects

The finance industry is one of the most stable and steadily growing sectors globally. Hence, you can explore a wide range of job opportunities across industries like banking, investment, corporate finance, insurance, and real estate.

• Development of Versatile Skills

A finance degree helps you develop a wide variety of transferable skills, including analytical thinking, problem-solving, financial analysis, and communication.

• High Earning Potential

Finance professionals typically enjoy high salaries and strong earning potential, especially in roles like investment banking, financial analysis, and portfolio management. This makes studying Finance Major a lucrative career path.

• Wide Range of Specializations

You can specialize in areas such as corporate finance, financial planning, risk management, real estate, and investment banking.

• Global Career Opportunities

The finance field is international, offering career opportunities not only in your home country but also in global markets. With the rise of multinational corporations and international finance, finance professionals can work virtually anywhere in the world.

Salary is one of the prime concerns of anyone looking to build a career in finance. Find out all about that in the next section.

Also Read: Finance vs Accounting: Which One Should You Choose? [2023] 

Finance Major Salary and Career Opportunities

A finance major offers exciting career prospects with competitive salaries. Professionals in the finance sector benefit from the growing demand for financial expertise across industries, with strong finance major salary earning potential and diverse opportunities for growth. 

Here's a closer look at finance major salary trends and the top career paths available to finance majors:

Finance Major Salary Trends

With a great potential for earning a high finance major salary, careers in finance naturally appeal to students looking for lucrative jobs. Here's a comparison of the annual average salaries for various finance-related positions.  

Source: Glassdoor

These finance major salary figures are reflective of both base pay and performance bonuses, especially in high-demand sectors like investment banking and asset management.

Top Career Paths for Finance Majors

Finance majors have access to a variety of exciting and well-compensated career paths with great finance major salary figures. Here are some popular career paths you can pursue after a finance major program, along with the roles and responsibilities associated with each.

Investment Banking

Investment bankers assist corporations, governments, and other entities in raising capital and providing strategic financial advice. After studying Finance Major, they are involved in activities like mergers and acquisitions (M&A), public offerings, and corporate financing strategies.

• Responsibilities: Conduct financial modeling, advise clients on strategic deals, raise capital, and analyze market trends.
• Salary Potential: High, with potential for large bonuses based on performance.

Corporate Finance

Professionals in corporate finance manage a company's financial activities, focusing on budgeting, financial planning, and optimizing capital structure. They aim to increase company value while managing risks.

• Responsibilities: Prepare financial reports, manage budgets, evaluate investment opportunities, and assist with strategic planning.
• Salary Potential: Competitive, with room for growth into senior financial management positions and the best finance major salary.

Asset Management

Asset managers handle investments on behalf of clients, such as individual investors, pension funds, or institutions. They work to build diversified portfolios that align with the client's risk tolerance and financial goals.

• Responsibilities: Research and select investments, manage portfolios, assess market trends, and communicate with clients.
• Salary Potential: Strong finance major salary earning potential with a focus on performance-based rewards.

Financial Consulting

Financial consultants advise businesses or individuals on a range of financial issues, including investment strategy, risk management, financial planning, and tax optimization.

• Responsibilities: Provide financial advice, create investment strategies, assess financial health, and develop customized solutions.
• Salary Potential: Competitive, especially in specialized areas such as tax consulting or estate planning.

These career paths provide ample opportunities for finance graduates to apply their knowledge, develop expertise in specific areas, and earn a rewarding income. By exploring these options, aspiring finance professionals can find their niche in the broad and dynamic field of finance.

Now, let's focus on the job prospects for finance professionals in 2025 and beyond. 

Also Read: Why MBA in Finance: Top 10 Reasons To Do in 2025

Job Outlook for Finance Majors in 2025 and Beyond

The job outlook after studying Finance Major in 2025 and beyond looks highly promising. Numerous factors, such as major technological advancements, changing global economic dynamics, and evolving industry demands, have led to the expansion of the financial sector. 

As the financial sector adapts to the digital age, the need for finance professionals with a diverse skill set is on the rise. Emerging sectors such as fintech, green finance, and data-driven financial services are reshaping the landscape, creating new opportunities for finance graduates.

The ongoing integration of artificial intelligence, blockchain, and big data into financial processes is transforming traditional finance roles and creating entirely new career paths. Hence, the job market for finance majors is only likely to expand exponentially in the coming years. 

Key Trends Shaping the Job Outlook:

• Fintech Expansion: Fintech startups are now rapidly changing the way financial services are delivered by using technologies like digital payments, blockchain, cryptocurrency, and artificial intelligence. Job roles like fintech developer, cryptocurrency analyst, and digital banking specialist will see growth.
• Sustainability and ESG Investing: As sustainability becomes a central focus for investors, finance professionals will be needed to evaluate green bonds, carbon credits, and ESG criteria. Roles in sustainable finance, impact investing, and ESG reporting will be increasingly in demand. 
• Data Analytics and Automation: The financial sector is now increasingly relying on data analytics and automation. This means that it will require employees with skills in data analysis, financial modeling, and AI applications. New jobs in data-driven financial consulting and algorithmic trading will eventually emerge.
• Cybersecurity and Risk Management: As financial institutions face increasing cyber threats, the need for experts in financial cybersecurity and risk management will grow. These roles are critical in safeguarding financial transactions, protecting data, and ensuring compliance with regulations.
• Globalization and Emerging Markets: As global markets become more interconnected, finance professionals with expertise in emerging economies will be valuable. Roles related to international finance, cross-border investments, and global economic analysis will continue to be important.
• Regulatory and Compliance Roles: There are now growing regulations across the financial industry, especially in areas like anti-money laundering (AML), Know Your Customer (KYC), and data privacy. This will pave the way for jobs like compliance officers and regulatory analysts.

Emerging Career Opportunities:

• Fintech Developer/Blockchain Specialist
• Sustainability Finance Analyst
• Data Scientist for Financial Services
• Cybersecurity Analyst in Finance
• Global Finance Consultant
• ESG Reporting Specialist
• Investment Analyst in Green Bonds
• Regulatory Compliance Officer

With the rapid pace of technological advancements and the increasing emphasis on sustainability, there is now a great demand for skilled and flexible finance professionals. Finance major students who stay adaptable and acquire new skills will be well-positioned to take advantage of the growing number of specialized roles. 

By 2025 and beyond, the finance job market will offer diverse and dynamic opportunities, making it an exciting time for those entering the field.

Studying a finance major program from experienced teachers can help you to build a rewarding career in this field. Find out how upGrad can help you with that.

How Can upGrad Help You Build a Career in Finance?

Enrolling for a Finance Major program can be the best career decision that you can ever take in your life. At upGrad, you can choose from a wide array of financial courses that can prepare you for the industry. These courses offer in-depth look on subjects like fintech, business finance planning and management, risk assessment and related fields.  

Here are some of the popular finance courses you’ll find with upGrad. 

• Professional Certificate Program in Financial Modelling and Analysis in association with PwC Academy
• MBA from O.P. Jindal Global University
• Digital Innovations in the Financial System
• MBA in Business and Law from O.P.Jindal Global University
• Post Graduate Diploma in Management (BIMTECH)
• MBA from O.P. Jindal Global University-Career Acceleration Program
• Advanced General Management Program

Reference 
https://pib.gov.in/PressNoteDetails.aspx?NoteId=151934&ModuleId=3&reg=3&lang=1 
https://www.glassdoor.co.in/Salaries/investment-banker-salary-SRCH_KO0,17.htm 
https://www.glassdoor.co.in/Salaries/financial-analyst-salary-SRCH_KO0,17.htm 
https://www.glassdoor.co.in/Salaries/corporate-finance-salary-SRCH_KO0,17.htm
https://www.glassdoor.co.in/Salaries/asset-management-salary-SRCH_KO0,16.htm 
https://www.glassdoor.co.in/Salaries/financial-consultant-salary-SRCH_KO0,20.htm
https://www.glassdoor.co.in/Salaries/financial-advisor-salary-SRCH_KO0,17.htm