Why finance is among the best majors.

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Whyfinance is among the best majors.

Disciplinaryliteracy is an important field of study that reveals how writing andreading are distinctively used in a given discipline. Mostimportantly, it helps learners in exploring their respective field ofstudy in details and to discover all the things (including the textsand courses) that they need to succeed (Buehl 2-5). This paper willaddress the finance major with the main focus on the requirements tounderrate finance at Michigan State University, courses required,present as well as the future challenges, the view of the global aswell as the local society, and the job salary. Although finance majoris a difficult course, it is one of the highly recognized courses,given that it gives a promise of a better paying job.

Background

Financeis one of the key fields of study that are designed to enhance thelearners’ ability to manage organizational finances and improvetheir financial performance. Majoring in finance requires a studentto learn various aspects of financial management, includingforecasting, budgeting, investment, and commercial banking (Conway,2013). Although finance major includes courses that are tailored toenhance the general reading of the students, most of the courses aredesigned to increase the learners’ capacity to manage and plan forfinances in the long-run. In addition, finance major is designed toprepare learners for a wide range of careers, including financialadministration, financial management, financial markets, investment,and risk management among others.

Figure1: Budgetary function

Source:Ohio Safety Net (1)

Figure2: Stock analysis functions

Source:Tip Blog (1)

Requirementsfor undertaking finance major

Therequirements set by the Michigan State University for students whowish to undertake a Bachelors degree finance concentration aresimilar to the requirements set most of the established universities.Most universities require 120 credits, which include the generalelectives for a Bachelors degree in finance major. The Michigan StateUniversity requires the completion of two major courses (includingmathematics 124 and 103) to satisfy mathematics requirements(Michigan State University 1). The writing requirements for a coursein finance major are satisfied by completing finance 414. Studentsshould score a minimum of 2.0 points on average in all courses.

Someof the mandatory courses include intermediate accounting for financemajors (ACC 305), introduction to investment (FI 312), and Advancedbusiness finance (FI 414). Some of the crucial, but elective coursesinclude management of financial institutions (FI 413), theinternational application in financial modeling (FI 455), computerapplication in financial modeling, security analysis (FI 457), debtand money market (FI 473), Investment strategies and speculativemarkets (FI 478), and topics in finance (FI 491) (Michigan StateUniversity 1). Although these courses are classified as elective,they are included in the determination of the average grade-point.

Presentcourse challenges and future directions

Challengesassociated with the finance major were identified following aninterview with a major student in the senior year.

Me:What are the major challenges that students who are undertakingfinance major should expect to face?

Interviewee:Students who are undertaking finance major should be prepared toundertake difficult courses, some of which involve laboriouscalculations. This calls for regular practice, which in turn requiresstudents to study for long hours.

Me:Do you think that the current course content is tailored in a waythat prepares students for field practice?

Interviewee:Using the finance major as a preparation for the future career isanother challenge that students should expect to face. The field offinance is governed by rules and models that are regularly changed.This implies that finance students should be prepared to read beyondthe course content.

Me:What is the future direction of the finance major?

Interviewee:The course content should be adjusted regularly to ensure that itprepares students for challenges emerging in the businessenvironment. Due the increase the rules and regulations (such asdisclosure) in the field of finance management, the finance majorwill gain popularity, and more students will enroll for the course.

Importanceof the writing course

Thewriting course provides students with an opportunity to learn abouthow to use language and texts that are important in their respectivedisciplines in an effective way. In the case of finance major writingcourse, learners are able to explore the entire course and variousrecommended texts. This ensures that students make the best use ofthe resources available to them, which is accomplished by enhancingtheir reading and writing skills.

Localand global society

Aninterview with a major student in the senior year:

Me:How do you think the local and the global communities view thefinance major?

Interviewee:Both the local and the global communities view finance major have aperception that finance major is one of the best majors that can onlybe undertaken by bright students.

Me:What are the specific factors that make members of the global and thelocal community value finance major?

Interviewer:Many people value finance major because they associate it with anever-growing employment prospects, financially rewarding jobs, and anarrow focus.

Salary

Aninterview with a major student in the senior year:

Me:How much does finance major graduate earn in a year?

Interviewee:The compensation for financial major varies widely depending on theemployer company, the level of experience, and the type of job. Forexample, a graduate who gets a personal financial manager job earnsan average starting salary of $ 64,750, financial managers $ 103,910,financial analysis $ 74,350, and financial examiner 74,940 per year.However, the compensation rates increase at varying rates dependingon competence and experience.

Me:How would you assess the job prospect for finance major graduates?

Interviewee:Finance major is one of the courses with the largest number of thenew job openings every year. Students undertaking finance major hasno reason to worry about the availability of jobs.

Conclusion

Thefinance major is a very challenging course, but the graduates whoundertake it successfully have an opportunity to advance theireducation as post-graduates and occupy prestigious job positions.Finance major is quite involving, and students should focus onreading both the textbooks as well as other relevant materials,including the journal articles to keep them updated. In addition, themajor gives its graduates a promise of well-paying salaries comparedwith many other majors.

References

Buehl,D. Developmentreaders in the academic disciplines.Delaware: International Reading Association, 2011. Print.

Conway,B. (2013). Financemajor: What can I do with finance major?Lincoln, NE: Peterson’s.

MichiganState University. Undergraduate degree: Finance. MichiganState University.2014. Web. December 7 2014.

OhioSafety Net. Financial management for safety net dental clinic.NationalMaternal and Child Oral Health Center.2008. Web. December 7 2014.

TipBlog. Royal Orchid: Stock analysis for long term investment. TipBlog.Web. December 7 2014.