Earning an online Bachelor of Business Administration (BBA) in Finance from Lamar University can set graduates on the path toward many exciting and lucrative careers. Graduates can apply the knowledge and skills gained to an array of professional roles within the finance sector. Plus, organizations in every industry rely on financial management, meaning finance graduates can pursue work in various professional environments.
Here are five career options to consider for professionals with skills and expertise developed through earning a bachelor’s in finance:
1. Financial Analyst
According to Investopedia, financial analysts “pore over data to identify opportunities or evaluate outcomes for business decisions or investment recommendations.” They research potential investments or sales, contextualizing economic and market trends and other factors. Their work involves financial forecasting and modeling to make projections and predictions that inform a business’s financial decisions.
Financial analysts may work for finance sector businesses like investment banks, consulting firms and insurance companies. They may also work in the finance department for organizations of all types, private and nonprofit, as guiding decision-makers in financial matters and investments.
The U.S. Bureau of Labor Statistics (BLS) reports that financial analysts made a median annual salary of $83,660 in 2020. With experience and skill, junior financial analysts can advance to become senior financial analysts, portfolio managers or firm partners.
2. Financial Consultant
These professionals work closely with clients (companies or individuals) to help foster their long-term financial wellbeing. They may offer in-depth, personalized analysis of client finances, investment advice, financial planning and other services.
Financial consultants have unique work environments and often travel to meet clients. These professionals may work for and ascend through the ranks of consultancy firms, or they may be self-employed contractors.
The independent financial consultant track comes with a great deal of autonomy and flexibility. However, it also demands effort and expertise in marketing and building a business. The comprehensive business skill set developed through a BBA degree that focuses on finance can be invaluable in this more entrepreneurial career pursuit.
ZipRecruiter reports that financial consultants make an average of $81,578 per year, as of February 2022.
3. Financial Manager
Finance managers guide and manage the financial health of organizations. Their work ranges from preparing financial statements and reports to directing investments and long-term planning.
Managers must also delegate tasks and supervise subordinate employees while reporting to and advising top leadership. The decision-making, strategic management and general business skills gained in a finance BBA program are highly applicable to this role.
With the financial manager’s level of responsibility comes substantial compensation. BLS data shows the median annual pay for financial managers was $134,180 in 2020. Moreover, given time and commitment, career advancement opportunities into executive-level finance positions can exponentially increase a financial manager’s long-term income potential.
4. Investment Banker
Investment bankers often help clients (i.e., corporations or governments) raise capital through issuing bonds or selling stocks. They can be heavily involved in arranging initial public offerings (IPOs), and they help corporations negotiate the terms of acquisitions and mergers.
In all their activities, investment bankers are the experts on areas like judging an organization’s value, assessing risk and ensuring regulatory compliance. Investment bankers must also, where applicable, ensure the Securities and Exchange Commission (SEC) approves transactions and deals.
Investment banking requires advanced, technical knowledge of finance, economics, investments and business law. It also requires advanced social skills and charisma with stamina for many meetings and client interactions. Accordingly, workdays vary widely, and travel can be common.
According to the Corporate Finance Institute (CFI), investment banking base salaries range from roughly $85,000 for an entry-level analyst to $1,000,000 for a managing director. However, a good deal of investment bankers’ compensation comes from performance-based bonuses. CFI reports these bonuses can total $50,000 to upward of $10,000,000 annually.
5. Chief Financial Officer
After working one’s way up through finance career tracks, the finance professional’s ultimate goal may be to become a chief financial officer (CFO). CFOs develop and set an organization’s economic policies, strategy and direction. CFOs ensure these overarching financial structures and processes align with the organization’s mission and goals while complying with all regulations.
Salary.com reports that professionals in this executive-level role earn a median annual salary of $411,396 (February 2022). Similar to investment bankers, bonuses and other forms of compensation can add substantially to this figure.
A career in finance can offer high pay as well as variety in types of work and work environment. The expertise gained from earning a bachelor’s in finance can help professionals excel in these settings. Broad business management studies further prepare graduates for career advancement opportunities that propel them into the upper echelons of rewarding finance work.
Learn more about Lamar University’s online Bachelor of Business Administration in Finance program.
