Overview of Finance Majors & Double Majors
Those planning to earn a degree in finance will work to understand the theory and analytical skills necessary for success as a financial professional. Finance majors may find it beneficial to pursue a double major in order to give them a competitive edge during their job hunt after graduation. A double major meets the major requirements in two areas of study, earning candidates an equal degree in each subject area. Mastery of two areas takes commitment and careful selection as finance majors will find the most value out of pairing specific areas in which to double major.
Generally, those seeking to enter a degree program in finance may do so with a high school diploma and passing scores on the SAT and/or ACT exams. Applicants must submit their materials by the submission deadline in either the fall (for spring semester consideration) or spring (for fall semester consideration). Candidates will pay a fee along with their submission and may also be required to write a college entry essay and provide letters of recommendation from past instructors.
Common Double Majors with Finance
Those earning a degree in finance may choose to complement their studies with a double major in another subject area. The following double majors are some of the best pairings for those seeking a lucrative career after graduation:
Finance & Economics
A dual major in finance and economics is a great way for aspiring graduates to gain a more well-rounded education within their original field of interest. While finance provides students with the analytical skills and theories necessary for success as a finance professional, economics applies these same theories and skills to the broader context of the global economy. This allows candidates to gain a firmer understanding of how the economy affects business operations and decisions.
Finance & Accounting
Finance and accounting tend to go hand-in-hand with many institutions already coupling these subjects in dual major curricula. Many budding professionals following this path may need to extend their studies by a few years as they work to satisfy their coursework in both areas. Accounting provides aspiring graduates with the quantitative skills necessary to better understand business data sets as they apply to business' operations and larger objectives.
Finance & Sports Management
Combining finance with sports management is a great way for candidates to jumpstart their career in the sports industry. By combining these two subject areas, participants not only gain a working knowledge of how to effectively manage a sports team and franchise but will develop the financial savviness necessary to help that franchise grow and thrive. Possessing a degree in both areas also gives candidates a competitive edge within the fiercely spirited sports industry.
Finance & Marketing
Earning a double major in both finance and marketing gives candidates a unique perspective on how to effectively manage marketing and advertising accounts through the lens of a financial professional. Not only will candidates learn best practices used in targeting consumers, developing brand messaging, and creating effective marketing materials, but they will be able to quantify each of these to provide future employers additional value with their financing skill set. Aspiring graduates will also learn how marketing efforts impact consumers and the financial livelihood of their businesses.
Finance & Foreign Language
Many enterprises work across multiple countries, requiring skilled employees in both finance and foreign-language communications. By majoring in both finance and foreign language, candidates can provide companies with the advanced skillset they need to develop long-lasting business relationships in foreign nations. Candidates will not only learn how to communicate effectively with individuals outside of the United States but will develop a firm understanding of the financial and economic climate within their countries of linguistic study.
How to Choose Your Double Major
In order to select the right double major combination, candidates must ultimately think about how they plan to use their degree. Those seeking to become bankers, financial analysts, or investment portfolio managers may find a double major in finance and accounting to be most beneficial. On the other hand, individuals seeking to apply financial knowledge to sports franchises or advertising accounts may find a double major in either sports management or marketing and finance to be the best option. Candidates should also consider the availability of professional development opportunities and resources through the institution through which they hope to earn their degrees.
Many working towards a degree in finance go on to become financial advisors at the end of their studies. According to the United States Bureau of Labor Statistics (BLS), employment for financial advisors is expected to grow at 7% between 2018 and 2028. The BLS also states that the average financial advisor in American earns $88,890 annually. However, double majors can pursue a number of different career paths, including the following: