Should I Major in Economics or Finance?
Other People Are Reading
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Career in the Financial World
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A finance degree prepares you for a career in the financial sector. Finance is a specialized major in many business schools. The University of Connecticut's school of business prepares graduates for finance-related careers in the corporate world, banking, non-profit organizations, government and real estate. Many finance majors go on to earn master's degrees in business. The university also reported that finance majors can earn starting salaries of $30,000 a year and higher.
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Economics a Favored Major
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The scope of economics extends beyond finance to cover other issues. An economics degree prepares you for careers in business, consulting, education or government. Economics also is a favorite major among business leaders. California State University reported that corporate leaders, in a survey by "Business Week" magazine, ranked economics second only to engineering as the best undergraduate major. Finally, the American Economic Association reported that students with economics degrees earn higher starting salaries than most college graduates, including business and finance majors.
Bottom Line
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An economics major is less specialized and thus, broader in scope than a finance degree. Economics majors can work in finance-related jobs, as well as a variety of other careers, including management, marketing, economic research and consulting, government policy analysis, and many more. In addition, the American Economic Association reports that economics majors earn higher salaries on average than their counterparts who major in finance or other business-related fields.
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- Photo Credit international finance image by Chad McDermott from Fotolia.com finance image by Chad McDermott from Fotolia.com Economic crisis image by Denis Ivatin from Fotolia.com
