Business is the most influential and powerful man-made force in the world today. It affects nations, economies, trade, salaries, availability of goods and services, the outcomes of wars and even the borders of entire countries. Business is the process of exchanging goods and services for some form of return in the world of commerce. An education in business is a very common chosen degree due to the fact that it is an indispensable skill, in a market that is rich with job opportunities, that commonly offer financially lucrative and exciting careers. Getting a degree in business may require a student to make choices pertaining to specialties that will determine what kind of jobs they qualify for and lead to what they are likely to accomplish in the long-term of their career. In this article, we will be looking at the major differences between a business degree versus a financial degree. We will take a look at how they differ, what you should expect to learn and which one you should pick, depending on your end-goal.
There are many types of business degrees which can be personalized to support your desired outcome. The study of business generally focuses on accounting, finance, management, economics, and entrepreneurship. Understanding these disciplines provide the necessary skill-sets and opportunities to enter into the business community. People who have studied business commonly operate as leaders in some aspect of their organization. These leadership roles can range from floor managers, department managers, board members, all the way to the CEO of a company. People who major in business have the basic skills and understandings necessary to make decisions on some level because they understand how a business works, what it needs and where it needs to be. These people may also fill the roles of marketing strategists, financial advisors, and economic decision-makers. The study of business also provides a solid foundation for those who are interested in creating their own business. A deep understanding of business provides a framework and the necessary knowledge by which the creator of a company can implement a plan, hire essential personnel, delegate tasks and lead their company into the future successfully. A business education also provides many open doors upon graduation. There are a wealth of entry-level job openings in business as well as higher-level careers that appeal to those who have obtained a masters degree.
Studying finance is a specialty study within a business degree and focuses on the inner-workings, structures, and handling of money. Since finance is a business degree, they both cover a multitude of related subjects which have been coined under the term FAME. (Finance, Accounting, Management, and economics.) A finance degree will provide you with a solid foundational understanding of how money works. A student of finance has a solid grasp of what wealth is and how it is measured. It is also important for understanding how money effects businesses and provides the skills to manage money within a corporation. Finance degrees also provide an in-depth study of micro and macroeconomics which provides a very in-depth understanding of trade, the world economy and the small decisions that work together to make up the whole. Common careers in finance include financial planning, banking, investing, real estate and financial management.
Understanding the key differences between a business degree and a finance degree is very necessary when deciding what path you will take in your educational studies. It’s not that either degree is better than the other, but more importantly that they offer many common and related skills but tend to specialize their focus in different areas. For someone who wants to work predominantly with money, stocks, economics, investments, and banking; a financially focused degree is going to equip them with the necessary tools to achieve those dreams. On the other hand, if managing a company or its employees is important to you, a business focused degree is going to be the specialization you should study. People with business degrees tend to end up in leadership roles, making important decisions and helping to forge the vision of the future into a reality.
A degree in business is an excellent choice of study. It provides people with many options in the job market and generally shows trends of providing stable careers due to the fact that business is interwoven into the fabric of human nature. There will always be business and thus, there will always be jobs available in this course of study. Choosing to take the financial route or specialize in business is really a matter of what you would like to do with your time, and where you would like to see yourself in 20 years.