Finance

Navigating the World of Finance: A Guide for High Schoolers

Calculator and graphs with a pen on a table

Summary:

Explore finance careers and if it’s a fit for you. Then learn about financial markets, investing, and accounting from industry experts with Prelum.

Key Points:

  • Majoring in finance and financial management services gives you the fundamentals associated with the management of money.
  • Although a grasp of economic principles is key, finance majors should expect to apply these principles to real-world banking and investing decisions.
  • Typical jobs in the field include financial analyst, personal financial advisor , financial services sales agent, and auditor.
  • Average salaries can range from $80,000 to $140,000 and more.
  • College prep finance courses are a great way to start.

Did your parents sign you up for a financial literacy course to help you better handle money and understand the importance of savings? Did you join an investment club in high school to get a taste of how the stock market works? Or, have you done an internship or shadowed a professional in the financial sector?

If these sound familiar, a future in finance could be the right path for you. College prep finance courses may be a great way to start. No matter which academic major you choose, corporate finance, investment management, accounting, or business, the career choices are many and varied.

What is a degree in finance?

Majoring in finance and financial management services gives you the fundamentals associated with the management of money. In the business world, this includes borrowing, lending, saving, and investing money. It also includes understanding economic factors that shape financial markets. Successfully completing this major can make you eligible to work in a bank, financial services corporation, or government agency, to name a few.

How does a degree in finance differ from a degree in economics?

Whereas finance focuses on how businesses and people acquire and manage money, economics is a social science that covers that movement of goods and services. There are two main branches of economics:

  • Macroeconomics — studies the overall behavior of the economy and includes global impacts such as inflation and gross domestic product.
  • Microeconomics — looks more at individual consumer or corporate choices and how they impact the economy (think college loan programs and how they affect the price of tuition).

Although a grasp of economic principles is key, finance majors should expect to do coursework that is more focused on the use of financial resources, and applying economic principles to real-world banking and investing decisions. Here is a glimpse at the kind of courses you can expect to take if you major in finance:

  • Accounting
  • Economics
  • Statistics
  • Capital markets
  • Investments and investment analysis
  • Corporate finance
  • Personal finance
  • Information systems
  • Operations management
  • Asset pricing and portfolio analysis
  • Business and finance ethics
  • Business law
  • Real estate finance
  • Marketing and communications

Is finance the right fit for you?

It is, if you are drawn to analyzing complex problems; the kind that weigh heavily on both corporations and individuals. So, problem solving around money matters is the key to success for those who choose this complex field. Personal characteristics include being detail oriented and comfortable with numbers. Plus, working with money requires the ability to communicate effectively with colleagues and customers.

Jobs and salaries associated with a degree in finance or financial services

As stated, the job opportunities are many and varied. Finance degree holders often work for financial institutions and banks, insurance companies, accounting firms, and financial planning consultancies. With a master’s degree, you could find yourself on the riskier side of finance, working for private equity or venture capital firms. Here are five typical careers people with finance degrees can pursue, and the average salaries:

  1. Financial/investment analyst $108,790
  2. Personal financial advisor $137,740
  3. Securities, commodities, and financial services sales agent $100,740
  4. Accountant or auditor $ 86,740
  5. Loan officer $ 84,160

But why wait until college to try out a course in finance?

Finance courses for high school students

Prelum, powered by Kaplan, partners with some of the most respected colleges and universities, and all offer engaging high school business programs designed for teens ages 13 and older. If finance is your thing, check out these college prep finance courses. You’ll find everything from investing, finance, and economics to entrepreneurship, venture capital, and leadership.

One of our partner schools is Wake Forest University. The Wake Forest pre-college finance class is a great option for motivated high school students. You’ll learn how financial markets work, delve into the mysteries of cryptocurrencies, and the rise of FinTech. You'll hear from industry experts, such as investment bankers who will explain the process of attracting investors, and you’ll explore college majors and future careers associated with finance.

Other Prelum partner schools with pre-college online finance courses include Georgetown University, with business-related courses spanning the fields of entrepreneurship, investing, international relations, and marketing. William & Mary’s Pre-college Online Program offers a dynamic online entrepreneurship course focusing on venture capital. And then there’s Notre Dame, whose Pre-College Online Program also offers a dynamic course in business

All of our college prep courses are delivered in a flexible, online format. Study anywhere, anytime that fits your schedule. And enjoy the support of mentors who will guide your learning experience. 

Let Prelum be the portal to your future with high school business programs.

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