Is a Finance and Accounting Degree Worth It? The Benefits Explained

With a range of degree choices available to A-level students, pinpointing the right one for a promising future can be overwhelming. For those with a penchant for maths and stats, a Finance and Accounting Degree can be attractive, but is it worth it?

What Does a Finance and Accounting Degree Teach?

A Finance and Accounting degree equips students with a comprehensive understanding of the financial world, from the intricacies of financial statements to the complexity of investment portfolios. 

More than just number-crunching, students learn about:

1. Financial Theories and Models: Understand the economic principles that drive financial markets.
2. Auditing and Assurance: Grasp the importance of financial accuracy and the processes that ensure it.
3. Taxation: Discover the complexities of national and international tax systems.
4. Corporate Finance: Explore how corporations raise and utilise funds.
5. Financial Reporting: Understand how businesses communicate their financial health to stakeholders.

The curriculum ingrains analytical thinking, problem-solving capabilities, and meticulous attention to detail; essential skills not just for a career in finance, but also in various other fields.

Benefits of a Finance and Accounting Degree:

1. Foundation for Further Qualifications: This degree provides a solid grounding for professional certifications like the ACCA, CIMA, or CFA, further enhancing career prospects. For those looking at postgraduate study, a Finance and Accounting degree also teaches the necessary skills to study ARU London’s masters in Accounting and Financial Management.
2. Transferable Skills: Beyond financial literacy, students hone skills in analytical thinking, attention to detail, and effective communication—all vital across various job markets.
3. High Earning Potential: As highlighted in our previous article, finance professionals can anticipate attractive salary packages, especially as they climb the corporate ladder.
4. Global Opportunities: Financial principles remain largely consistent across borders, offering graduates opportunities to work internationally.
5. Recession-Proof Skills: Even in economic downturns, there's a need for financial experts to navigate the storm.

What Can Graduates Do with This Degree?

The foundational and transferable skills learned in a Finance and Accounting degree are invaluable in various settings:

• In a Business Setting: Graduates can shape business strategies, guide financial decisions, and even spearhead entrepreneurial ventures. Their understanding of finance makes them invaluable in boardrooms.
• Different Areas of Finance: Whether it's investment banking, financial planning, or risk management, the finance sector is vast, and graduates can find their niche.
• Specific Jobs Inside the Finance Sector: From chartered accountancy, and audit associate roles, to financial analysts and investment bankers, the options are diverse.
• Outside the Finance Sector: Analytical skills are in high demand in sectors like consultancy, data analysis, and even certain areas of Information Technology (IT). Additionally, roles in HR or marketing can benefit from financial insight, especially in budgeting and forecasting.

In essence, a Finance and Accounting degree not only equips students for a promising career within the financial sector but also furnishes them with skills that are useful in various industries. 

As the global economy continues to evolve, financial literacy will undoubtedly remain an indispensable asset, making this degree a worthy investment for the future.