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Overview of an Associates in Finance
Finance is a broad category for a number of degrees and careers. You can move into bookkeeping, tax work, or consulting with a variety of clients in nearly any industry. While an associate will only gain you access to a limited number of entry-level positions, it will give you an introduction to the great variety possible in a career in finance. If you are unsure where you want to take your future career, earning an associate is the perfect first step to allow you to figure that out, as well as giving you a way to get into the field as soon as possible. With this degree you can jump right into a job in the field, gain experience, and earn a living either full-time or while you go back to school to earn a bachelor’s with your preferred specialization or industry.
Business Degrees & Career Paths
PROS
An Associate Degree in Finance is an entry-level degree that can start a career in finance and open the doors to several financial occupations. Unlike a bachelor’s degree, an associate degree requires about 60 credit hours and students can complete the coursework in two years. Given the costs of education, the savings of two years of tuition, fees, and living expenses can be a critical factor for many families. Associate degrees create earning power above and beyond that available to the average person with a high school diploma. The Bureau of Labor Statistics projects that associate degree holders make more than high school graduates. In 2017, the median for associate degree grads was $836 per week, and high school graduates earned a median wage of $712.
CONS
Employers require a bachelor’s level education for many positions within finance occupations. The bachelor’s curriculum includes more extensive coursework and graduates can enter the job force with a broader and deeper set of skills and knowledge than they can with an associate degree. The student must also consider the limitations of an associate degree; some career goals are more easily accomplished with a bachelor’s degree, such as the earning of certain credentials/certifications. For example, students that achieve a bachelor’s degree from an accredited school may be eligible to sit for the Chartered Financial Analyst Level I exam or complete the Certified Financial Planning (CFP) designation. Further, students that wish to advance to upper management may need a master’s degree in finance, which you can’t even begin without a bachelor’s degree.
Certificate Vs. Associates
A certificate differs from an associate degree. The associate degree represents an achievement in general education. The certificate is more focused and designed to certify or prove competence in a narrow area or niche. The certificate differs from the associate degree in terms of costs, time to complete, and uses for advancement.
The certificate is an end to itself. Usually, it does not provide academic credit toward a bachelor’s degree. The certificate is also quicker than an associate; certificate programs usually run for one year or less. The certificate is for people that possess a required level of education and experience. The acceptance requirements differ from an associate program, which typically do not require specialized education or experience.
What Finance Associate Degrees are Available?
The associate degree is a two-year college level degree. In terms of general education, the associate degree can resemble the first half of a four-year bachelor’s degree. Associate degrees are popular among students that seek a two-year education and also among those who seek a bachelor’s or more. The associate degree typically is substantially less expensive than attending a four-year institution.
A graduate of an associate degree program is equipped for employment in occupations in which employers seek at least some level of college education. Those students who aim to earn associate degrees usually fall into two broad categories. First, some students are preparing for further education and earn Associate of Arts or Associate of Science degrees. Other students are preparing to enter an occupation, business, or profession. These students often opt for ‘applied’ science or art degrees.
• An Associate of Science in Finance (AS) is a two: year degree that focuses on the field of finance. The associate of science degree may have more math, computer, and technology coursework, along with similar business topics like statistics.
• An Associate in Applied Science in Finance (AAS) is a career: oriented degree with a lower number of general education courses and a higher number of practical courses than the AA or AS degrees. Students that wish to enter the field but do not expect to complete a four-year degree can select these courses to meet their goals.
• An Associate of Arts in Finance (AA) is a two: year degree with courses that cover general knowledge and broad areas of study. In the finance sector, this degree prepares students to complete a bachelor’s degree at a later time.
• An Associate of Applied Business (AAB) prepares: students to work in corporate and organizational roles including small business, non-profits, and entrepreneurship. Students study the practical aspects of business including management, marketing, accounting, and legal aspects.
• An Associate of Applied Arts (AAA) is a degree: program designed to help students enter the job market upon graduation. These courses of study have a sharp focus on hands-on training and learning in real-world environments.
Admission Requirements
Each school sets their own admissions standards for associate degree programs. The basic requirement is the completion of a high school education either by diploma, GED, or home study. Schools require transcripts from high school and any college work completed. Typical requirements also include some form of essay, personal information, and test scores from standard tests like the SAT or the ACT.
Online programs offer process admissions without a personal meeting. However, applicants should engage the school and at least speak by telephone with admissions officials. This not only helps the applicant by answering questions and reducing concerns, but it can also streamline the admission process by allowing you to get a clear picture of the requirements.
Schools must commit time and resources to review applications. The schools often cover their costs by charging application fees. Many schools may waive or reduce the fee should it interfere with the student’s ability to apply for admission.
How long does it take to earn a Finance Associates?
An Associate Degree in Finance usually takes about 60 semester hours. This is roughly 20 college-level courses or labs. Some courses of study also require internships in real-world settings such as offices, training facilities, or commercial locations. Students can pursue an associate degree on a full-time basis and complete it within two-years, or they may elect a part-time approach and complete the degree in three or more years. Online study may reduce the time needed to complete the degree. Many students take additional courses during the school year and in the summer session. By adding an extra course and using the summer session, students can reduce the time needed to as little as 18 months.
Associate’s in Finance
Cost range from $6,000 to $26,000
Earning an associate degree in finance usually takes two years. The associate degree will give you the fundamental skills you need for an entry-level position in the finance industry. However, it can also be used as a foundation of your education and you can move on to the next level and further enhance your knowledge, skills, experience, and education with a bachelor’s degree.
ASSOCIATE’S DEGREE SAMPLE COURSES
• Legal Aspects of Finance
• Investments and Banking
• Accounts Payable and Accounts Receivable
• Accounting Fundamentals
• Bookkeeper
• Business Statistics, Laws, and Trends
• Tax Preparing
• Managing Financial Risks
• Auditing
• Financial Statistics and Research
Bachelor's in Finance
Cost range from $24,000 to $75,000
You can usually earn your bachelor’s degree in four years. When pursuing a bachelor’s degree in finance, students will learn how to manage a business’s money while making important investment decisions and will qualify for many entry-level positions in the finance industry.
BACHELOR’S DEGREE SAMPLE COURSES
• Principles of Finance and Investment
• Banking, Finance, and Money Management
• Accounting
• Microeconomics
• Personal Finance Concepts
• Fundamentals of Marketing
• Introduction to Project Management
• Macroeconomics
• Key Financial Concepts
• Computer Modeling of Finance
• Introduction to Business Law
Concentrations available in finance include Investments, International Finance, Risk Management, Financial Accounting, Corporate Finance, International Finance, and Money & Capital Markets among others.
Master's in Finance
Cost range from $30,000 to $120,000
The Master’s in Finance program usually takes one to two years to complete. It can help students pursuing a leadership role in finance to gain employment in many sectors. At this higher educational level of finance, students will learn advanced skills in money management and investing using financial methods and technology models.
MASTER’S DEGREE SAMPLE COURSES
• Financial Math Programming
• Business Communications
• Risk & Derivatives Management
• Managerial Economics
• Strategic Management Seminar
• Accounting for Managers
• Organizational Behavior
• Macroeconomics
• Marketing Concepts and Practice
• Corporate Finance
• Qualitative Finance
• Quantitative Management Methods
Concentrations available in finance include Finance and Economic Systems, Trading Systems, Financial Computation, Derivatives, and Asset Management among others.
What Can I Do with a Finance Degree?
A degree in Finance can give you access to the highest levels of the corporate power structure. Every company needs to know which way the financial winds are blowing, and this will be your specialty. You’ll be able to plan out investments, track every penny spent, tell leaders when they are making a bad move and when they can make a good one, and increase profits for shareholders and the company as a whole. You may even find yourself in the C-suites making the hard decisions when financial information and options are brought to you.
Finance Fields of Study
• Corporate Finance: If you focus on this type of finance, you will be well prepared to deal with the entire financial structure of a corporation. Your main goal will be to increase the value of the company for both the leadership and for the shareholders.
• Financial Evaluation: Financial evaluation allows you to tell a company how stable their newest project or product line is likely to be. You can give them an overview of an entire system of finance and tell them where they stand. This can allow leadership figures to make the best move for their company.
• Econometrics: By using this complex form of statistical analysis, you will be able to tell the leaders of your company what any single or group of financial data points actually means for the company. Some growth is good, but if you grow too quickly you can run into serious problems. This can give you insight as to what constitutes a good piece of financial data or a bad one.
• Investment Management: Investment management is the practice of carefully controlling a company or accounting firm’s investments. You might track ongoing investments or keep an eye out for new investment opportunities. If you head the department, you will do both while also keeping an eye on any investment moves your workers bring to your attention.
• Financial Modeling: This process requires that you be able to track every piece of financial info coming through a company. You will process it in such a way that you know what the likely outcome of making a financial decision is. This will let the CEO or board assess the risk of a move and gauge whether sudden growth is positive or negative in the long run.
Finance Careers and Salary
Those who pursue a career in finance generally earn lucrative salaries that are more than the national average. The U.S. Bureau of Labor Statistics (BLS) predicts that by 2026 employment for financial managers will grow by 19%. According to the U.S. Census Bureau, those who hold a master’s degree generally earn $17,776 more annually than those who hold a bachelor’s degree. Also, those who hold a bachelor’s degree earn $16,605 more than those with an associate degree. Another way to climb up the ladder of earnings potential is with experience. You will always start out at an entry-level position, then after gaining some experience, you will move on to a mid-career level than late-career status where each level will earn you substantially more salary.
Finance Career Options
• Financial Analyst: This is often the first job for a budding Investment Banker. Analysts spend long hours crunching numbers and running financial models to ascertain corporate value. A large part of the job is concerned with assessing the value of companies that are comparable to the client for various business reasons including mergers and acquisitions.
• Personal Financial Advisor: This position requires a Series VII license which allows you to trade securities. In addition to trading activities, you will work with clients to help them secure their wealth for the long-term. This can involve establishing trusts and making other wise investments that are shielded from taxation.
• Budget Analysts: Professionals in this career help companies, government agencies, and non-profit organizations assess their assets, revenues, and debts so that they can project budgets for the quarters and years to come. It will help to have a strong background in accounting as well as economics.
Finance Programs Salaries by Career
Financial Managers can be employed in many positions within the private or public sectors. They may also be known as financial analysts or business analysts in these positions and function as advisors. In order to help the company make good financial decisions, they study the market and the companies holdings in order to suggest the best path/financial plan for them to follow. It’s up to the CEO or board to take their advice.
Actuaries use statistics to make predictions. They predict the likelihood of events and any possible financial consequences, these are called ‘risk assessments”. These predictions are shared with either the financial department head or the company board or CEO to help them direct the financial department. Insurance companies use actuaries to help them maintain financial stability in what can be an unstable business.
Economists weigh in on policy decisions by analyzing large (city, state, or country) markets. These policies include minimum wage laws, the effects of labor-related or employment policies, etc. They use techniques like regression analysis, game theory, and economic modeling software.
Finance Scholarships
Because careers in finance are growing and are currently one of the highest paying business majors in the global marketplace, more associations are investing in financial leaders with next-generation scholarship programs under their belt. If you always enjoyed creating monthly budgets, balancing your checkbook, or weekly allowances, then a degree in finance might be the right choice for you. There is a wealth of opportunity available in the finance industry, such as government finance, venture capital, financial planning, investment banking, commercial banking, insurance, hedge funds, corporate finance, and much more.
Here are just some of the many scholarship programs available to students majoring in finance
• “ALPFA National Hispanic Scholarships”
Amount: $2,000 to $10,000
The “Association of Latino Professionals in Finance and Accounting” (ALPFA) has collaborated with the “Hispanic Scholarship Fund” (HSF), to offer an annual scholarship to students of Hispanic heritage pursuing a full-time degree in finance, business administration, or accounting.
To be eligible, candidates must be enrolled in a four-year program in an accredited university with a minimum junior status level, possess a GPA of at least 3.0, and be a U.S. citizen or permanent legal resident.
Contact: ALPFA National Hispanic Scholarships
Address: 801 South Grand Avenue, Suite 400, Los Angeles, CA 90017
Phone: (213) 243-0004
Email: carmen.cardenas@national.alpfa.org
• “Daniel B. Goldberg Scholarship”
Amount: $12,000
Through the “Government Finance Officers Association” (GFOA), the Girard Miller Foundation funds this scholarship program.
To qualify you must be a full-time student, pursuing an advanced preparation degree for a career in local government and/or in-state finance with a bachelor’s degree already obtained. In addition, students must be a citizen of the U.S. or Canada and express a strong desire for a career in government.
Contact: Daniel B. Goldberg Scholarship
Address: 203 North LaSalle Street, Suite 2700, Chicago, IL 60601
Phone: (312) 977-9700 ext. 2273
Email: rkotchen@gfoa.org
• “FWSF Scholarship Fund”
Amount: $5,000 awarded to undergraduates and $10,000 to graduates
The “Financial Women of San Francisco” (FWSF) has been providing this scholarship fund annually since 1985, to assist women who pursue a career in financial services.
To qualify, applicants must have a junior status at a minimum, maintain at least a GPA of 3.4, enroll in an independent accredited university, major in finance, and attend school or reside the San Francisco Bay Area.
Contact: FWSF Scholarship Fund
Address: P.O. Box 26143, San Francisco, CA 94126
Phone: (415) 586-8599
Email: info@financialwomensf.org
• “J.P. Morgan Launching Leaders Scholarship”
Amount: up to $15,000 each
This scholarship is available to talented Hispanic, black, and Native American students seeking a career in finance with a world-leading financial firm.
To qualify, applicants must be enrolled in a financial services program at an accredited university, have at least a GPA of 3.2, and express interest in a career that involves financial services.
Contact: J.P. Morgan Launching Leaders Scholarship
Address: 1321 Murfreesboro Road, Suite 800, Nashville, TN 37217
Phone: (800) 345-1833
Email: ContactUs@applyists.com
Coursework prepares trainees for jobs in around the world money and marketing research in addition to evaluation. This program covers the basic concepts and also practices of accountancy, including double-entry bookkeeping as well as different other techniques of tape-recording purchases and preparing financial statements. Accounting programs prepare students to work as bookkeeping professionals, organization consultants, as well as experts. This program focuses on teaching students precisely how to help individuals, companies, and also companies raise sources.
The capabilities found out in this training course prepare trainees to operate as monetary investment bankers, financial managers, and also risk managers. While the majority of on-line associate degree in cash programs take about 2 years to finish, this time around commitment differs based upon many variables. If your program includes a cohort discovering design, which needs pupils to finish coursework with a group of their peers, you will certainly most likely surface your associate degree in 2 years.
Additionally, many universities permit pupils to pick a full-time or part-time course schedule; full-time research study usually makes it possible for pupils to make their associate degree within 2 years, while part-time enrollment shows that it might take 3 or even more years to complete your program as well as receive your diploma. Getting your degree from an accredited program makes certain future companies and/or scholastic programs that you obtained a top quality education and learning as well as knowing.
Regional accreditation is one of one of the most chosen in addition to recognized kind; regionally-accredited establishments usually tend to be nonprofit and also degree-oriented. In addition, national accreditation is much less normal and is usually granted to for-profit, religiously-affiliated institutions, or work as well as technical institutes. It is essential to make sure that your online associate degree in funding is regionally approved.
Money connects generally assist money managers prepare financial affirmations, make up documents as well as forecast business revenues. Yet due to technical developments in reporting with computer systems, they spend a lot more time examining monetary info and additionally suggesting their business how to lessen prices as well as take advantage of earnings. Any kind of individual that means to come to be a funding affiliate need to access least a bachelor's degree in their area.
An organization degree can be remarkably beneficial to your future success. Versatile, substantial, in addition to extensive, the most effective company levels aid you flourish in the complex globe of field, advertising and marketing, finance, along with sales. Nevertheless what can you do after completing your service education and learning and also learning? The short answer is anything, yet there are a number of organization degree tasks that provide superb pay, commonly with a bachelor's level or much less.
The academic course supplies you skills as well as understanding that use to nearly any type of kind of firm, from the economic sector to non-profits to federal government business. It's additionally amongst the most efficient levels if you intend to end up being a business owner. Throughout a company education, you'll learn just exactly how business run, specifically just how they discover incomes resources, just exactly how settlements are made, and specifically how or why some solutions succeed while others stop working.
This will definitely contain discussion abilities, logistical as well as logical reasoning, option production, task administration, as well as a great deal extra. A firm degree will certainly provide you the devices and likewise sources you require to grow in numerous areas of the market. Depending upon the particular courses you take and likewise any kind of scholastic focus you pick, you could discover marketing, financing, as well as likewise team management.