Things you should do before applying for masters in finance degree

August 12, 2019 10:18 pm

Finance is an integral function of business of all types, starting from investment banking to the fashion industry. With the growing demand for skilled finance professionals, more students are steering towards finance studies to scale the ladder of success. If you are also interested in taking up a career in finance, here’s a detailed guide to help you seal the deal. Let’s take a look!

Step 1: Decide on the programme you want to opt for

Since finance is a diverse field, there is a wide range of courses you can choose from to enter this sector. It is essential that you decide whether you want to pursue a masters in finance degree or an MBA with finance as your specialisation. You can come upon this decision based on the finance function you want to take up as a career.

Step 2: Decide the specialisation you want to take up

Finance has a wide range of subsections, starting from corporate finance to insurance finance. Depending on your strengths and interests, decide the foundation of your career. A degree in finance can open up avenues for various rewarding careers.

Step 3: Research about various postgraduate finance programmes

Before you start applying for institutions and paying the application fees, ensure that you research carefully about the programmes. The criteria for research can include programme ranking, institute ranking, financial assistance available, mode of learning (on-campus or online), duration of the programme, course fee and job placement.

Step 4: Ensure that you meet the programme’s entry requirements

Once you have finalised the programme you want to take up and the institution you want to pursue it with, then it’s time to focus on the entry requirements. Ensure that you are on par with the eligibility criteria of the programme you are applying for. General requirements for enrolling for a postgraduate programme are as follows:

  • Bachelor’s degree in the relevant field;
  • A good grade point in your undergraduate programme;
  • Relevant work experience;
  • Additional qualifications/extra-curricular activities.

Note: The exact qualification will be at the discretion of the college or institution you wish to pursue the programme with.

What skills do you need for a career in finance?

  • Accounting qualification: An accounting qualification gives you the opportunity to develop skills that are relevant to the present business situation. Since finance is a sector that involves rigorous processes and the need to abide by process standards, accounting qualifications can offer you the appropriate knowledge and expertise to cope with it.
  • Financial reporting: Finance professionals must have the ability to convert quantitative data into meaningful information. More so, because this information is used by organisations to assist them in business decision-making and making accurate business forecasts.
  • Analytical skills: A major part of a financial professional’s job is to analyse data. Hence, having analytical skills takes precedence as compared to interpersonal skills. However, interpersonal skills are also essential in order to excel in a finance job.
  • Communication skills: Most jobs in the finance sector would require you to interact with stakeholders and professionals from other departments. You will need them to provide you with quantitative data, based on which you will present the financial forecasts and related results. Hence, it is essential that you have the ability to relay information in a concise manner and understand the demands of the stakeholders.

If your aim is to be a successful financial, research about the programmes carefully and choose what suits your interests the best.

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