Finance vs. Business – Which Degree Is Right For You?

Brian Chung

Who is the course designed for and who should enroll?

Both business and finance degrees are some of the best paying degree programs with excellent job security post-graduation.

The Bureau of Labor Statistics predicts that business and finance occupations will grow by 7% by 2028 creating about 590,000 new jobs.1

A business administration major will be expected to take core business classes in finance, mathematics, economics, and more; similar to the required classes for finance majors.

The differences start to arise during the third and fourth year of the respective degree programs.

Business Administration Degree

A business administration degree touches on all of the aspects of business including general business administration, accounting, finance, project management, human resources, marketing, and organizational behavior.

In addition to the technical and analytical skills taught within the business administration program, students will have to master soft skills to take control of a team within a company.

With the diversity of courses that a business administration major has to complete, there are a plethora of job opportunities available post-graduation in multiple industries. 

Finance Degree

As opposed to a business administration degree, a degree in finance is more specialized in one area of business — finance.

Finance degrees deal mainly in investment decisions and activities within financial institutions.

Students studying finance can expect to be well compensated once the program has been completed and may be able to work in banking, money management, hedge funds, or investment banking.

Finance professionals tend to continue their education by going back to school after working for a few years to earn a master of science in finance.

Finance vs Business – The Bottom Line

Depending on your interests and motives, both degree programs offer many lucrative opportunities in their respective fields.

A business administration degree focuses on the idea of understanding how to run a business by providing knowledge on the basic principles of business such as accounting, human resource management, and marketing.

A finance degree specializes in a set of activities that directly involve finance activities such as investment decisions, projected forecasts, risk management, and banking. 


Reference:
  1. Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Business and Financial Occupations: https://www.bls.gov/ooh/business-and-financial/home.htm

About the Author

Brian Chung

Brian Chung is an intern at Romero Mentoring dealing with digital media and marketing. He has a background in digital marketing and started an e-commerce business website. Brian is currently attending Rutgers University School of Business. In his free time, Brian likes to spend time with his dog, watch binge-worthy shows, and go to the gym.