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A finance degree is one of the most valuable college degrees and one of the only degrees associated with high entry-level pay rates. The most common type of institutions that employ finance professionals are banks (retail banks, commercial banks, investment banks), money management firms, wealth and asset management firms, hedge funds, private equity firms, real estate firms, consulting firms, insurance companies, and fintech firms as well as nonprofit institutions and government agencies.
The Department of Finance opened in fall 2015. Finance is a growing field for students that offers ample career opportunities. Alumni with a degree in finance work in many areas, such as accounting, administration, business development, finance, IT, operations, and sales, among others.
Finance majors must be aware that the market for finance professionals in New York City is vibrant and highly competitive—entry-level jobs are highly sought after. It is critical that students complete a minimum of one professional internship before graduation—those who sign up with the Magner Career Center early will have the biggest advantage at graduation.
There is a lot of information available on LinkedIn, including profiles of more than 3,300 Brooklyn College alumni who graduated with a degree in finance. Join the Brooklyn College Alumni group and see where alumni are currently working, their skill sets, and their career progression. You can filter further based on employer, class year, etc.
The amount earned from a finance career varies based on what type of position is pursued. For example, a financial analyst with a finance degree is likely to earn an average salary of about $77,000, while a real estate appraiser with the same degree is likely to earn around $49,000. Finance majors who pursue careers as compensation, benefits, and job analysis specialists or cost estimators earn a salary of about $59,000 on average. These professionals organize a company’s benefits programs or estimate the cost that it takes to create a certain product. In contrast, financial examiners who advise businesses on investment strategies earn average salaries of $75,000.
According to the Bureau of Labor Statistics, the median annual wage for financial analysts was $85,660 in May 2018. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10% earned less than $52,540, and the highest 10% earned more than $167,420.
In May 2018, the median annual wages for financial analysts in the top industries in which they worked were as follows:
Most financial analysts work full time, and about three in 10 worked more than 40 hours per week in 2016. Much of their research must be done after office hours because their days are filled with telephone calls and meetings.
The best approach to determining possible salaries is to research them on websites like Indeed.com and Salary.com. Also, Glassdoor has a long list of job titles with average salaries noted.
There are a number of resources on campus that will help you learn more about finance career options. Attend events and keep current on the resources available to you.
The Magner Career Center has a wealth of information on everything you need to get started in your career, help with résumés, an internships database, job fairs, etc.
The Advising Office for accounting majors can provide guidance in applying to graduate schools. Zina Sharperson is the senior adviser for the finance major.
The M.D. Sass Investment Institute (MDSII) provides students the opportunity to learn value investing strategies. Students help manage the MDSII long/short equity hedge fund under the supervision of seasoned investment professional managers while gaining valuable real-world experience.
To find all clubs and the latest events, search for the names of clubs and sign in to RSVP for the events you would like to attend.
ModernGuild offers training programs across two industry tracks—consulting and finance—at no cost to students. Following the two-week Virtual Career Fair, ModernGuild advocates on your behalf based on your company and position preferences.
In partnership with Project BASTA, CUNY Finance Meetup is the premier hub for CUNY students interested in pursuing careers in the financial services sector.
The CFA Institute is a global association of investment professionals. The organization offers the Chartered Financial Analyst designation, the Certificate in Investment Performance Measurement designation, and the Investment Foundations Certificate.
WayUp is a U.S.-based job site and mobile app for college students and recent graduates. Job candidates using the service complete an online profile that matches them with employers based on the candidate’s interests, experience, and skills.
LinkedIn Learning has tons of resources for a budding professional. Expert online tutorials on everything from Excel basic-to-super-user level to time management, business phone etiquette, customer service skills, and much more. Free premium access can be granted to individuals with a valid New York Public Library card or Brooklyn Public Library card.
