The Top 5 Finance Concepts Every Student Should Understand
To those with a basic understanding of business, the word “finance” nearly always conjures up images of numbers and math. According to a common misconception among finance students, excelling in numbers and arithmetic is not the be-all and end-all of financial knowledge.
A student obtaining a Distance MBA in finance should be able to quickly comprehend numbers, understand numerical reasoning, and recognise patterns of behaviour. Strategic business planning necessitates a greater level of understanding to succeed in the financial industry.
What students fail to realise, whether through remote education or otherwise, is that a successful career in this industry requires more than just learning skills and information.
The top five items any finance student should know are stated below.
1. A rise in demand
Professionals in the financial industry are in luck, as globalisation and a booming economy have led to an increase in the need for accountants and auditors. The financial industry is the fastest expanding, with a projected growth rate of almost 11% between 2014 and 2024. Isn’t that the place you’d like to be?
2. Employers like accountants who are computer savvy.
Being an accountant with a keen eye for detail, above-average organisational abilities, the capacity to recognise and deduce patterns, and a fast mathematical mind is no longer sufficient in today’s environment. It’s also critical to be conversant with the company’s software. Information technology expertise is the second most sought after ability among accountants. It is even ranked higher than outstanding communication skills, leadership ability, and customer focus.
3. It’s not just about the statistics.
Who says finance has to be all about numbers and figures? With an MBA in Finance, you can pursue a variety of unusual job options, including Corporate Financing, Commercial Banking, Investment Banking, Hedge Funds, Finance Planning, Public Accounting, and Insurance. In the financial business, the banking sector pays the most.
4. A solid financial foundation
According to data, over 30% of Fortune 500 CEOs spent the first few years of their careers establishing a solid financial foundation. Companies respect the value that individuals with strong financial expertise bring to the table. So, which firm wouldn’t be interested in hiring you?
5. Jobs in finance can lead to a variety of other opportunities.
A financial foundation guarantees that the door to other prospective employment paths remains open. Finance students are hired in all industries throughout the world, providing them with the freedom to pick where they want to work. Keep in mind that finance is a demanding, competitive field with strong employment demand across the board.