They say there are no guarantees in life. That's true. Those fictitious 'they' also say nothing's sure but death and taxes. That's another truism. But then, those mysterious 'they' also say that money makes the world go 'round. Isn't that also a fact? And wouldn't it mean that anyone who ensures the constant movement of money would have a reasonable guarantee of job security?
More and more students are coming to that conclusion. They study the jobs market, looking for a career that offers some measure of stability. It's beginning to dawn on them that few sectors are safe. The finance industry is one of them.
Jobs in finance are plentiful and the market for new talent is growing. Barring a few exceptions, jobs in finance are virtually recession-proof. And they pay far better than most tourist industry jobs; another sector that withstands economic quakes. So what does it take to work in finance?
It helps to have certain qualities like being good with numbers and being able to spot patterns. Depending on which finance industry sector you work in, customer service and communication skills are vital. And, for most positions, you have to have at least an undergraduate degree in a finance qualification. That being the case, it looks like we need to find the best places for you to take finance courses.
About Finance Courses
Before choosing a university degree plan, you should know what kind of work you're planning to do. And then, you choose the degree plan that leads to your chosen career path. As you're reading this article, we can safely assume that you want to earn your degree in Finance. We'll not make any assumptions about which finance job you're planning for.
Bachelors of Science (BSc) degrees in Finance are hard to find. In our search for the best Finance courses in Australia, we only found a couple BSc degree plans that specifically addressed this subject matter. That's because undergraduate studies tend to be more general. Later, at the graduate level, you will choose the finance speciality you wish to train for.
That begs the question: can you find work in finance with your BSc qualification? You can but the market will be much more competitive. And you might earn less than colleagues with a Masters' qualification. If you can spare the extra (almost) two years and expense to earn your Masters' degree in a finance speciality, doing so will increase your employability.
Undergraduate course catalogs don't usually list finance courses or degree plans. To find anything finance-related, you should skim through prospective universities' Business and Management curricula. You'll spend your first year school doing general studies anyway so you can put off declaring your major until the end of your first year.
That gives you time to decide whether to earn your BSc in Finance and Accounting, Finance and Economics or Business Finance. Of course, your decision depends on which degree plans your selected university offers. For instance, the Australian National University offers a BSc Finance degree. By contrast, the University of Melbourne only lists undergraduate degrees that pave the way to a Masters' degree in Finance.
Before we talk about the best university courses for Finance, we have to mention online courses. At this time, many of Australia's top universities maintain pandemic protocols. That means you might start the term online and possibly move to in-person classes later on. Online course delivery shouldn't matter much; you'll hear the same lectures as you would in the classroom. If need be, you may engage a finance tutor online to explain the finance concepts you didn't quite get.
University of Melbourne
Of course, we must start here, at Australia's top-ranked university; one of two Australian universities in the Top 50 World Rankings. Unfortunately, you won't find a BSc Finance study program. However, you can enrol in their Bachelor of Commerce program and declare a finance or finance-related major.
In your first year, you'll learn a little about each of the six available majors. Besides Finance, you might go for Accounting, Economics or Actuarial Studies. That last is a highly specialised field that involves calculating commercial risks and probabilities. You might say there's quite a bit of statistics involved in Actuarial Studies. If you had your hopes on a career in Statistics, that would be the qualification for you.
Naturally, the University of Melbourne has a full complement of graduate Finance courses, as does every other university we investigated. You may also choose to leave school in favour of an online Masters' program. That will allow you more flexibility to start work while still learning.
The Australian National University (ANU)
This progressive campus is one of the few schools we found that offers a BSc in Finance. In this three-year, on-campus course, you'll master international trading of bonds and equities, along with other financial instruments. You'll study financial markets and discover the factors that influence financing decisions.
Their course catalog also lists a BSc in Finance, Economics and Statistics. This four-year Honours program explores financial models. You'll discover what they are, when using them is most effective and how to use them. You'll also develop the analytical skills needed to read financial and economic data.
If you wanted to work in a government Finance and Budget office, the BSc Hons course will put you on the fast track to such a position. However, if you're not yet sure which way your career will go, you should give yourself more time to decide. Choose the three-year program so you can test the waters. You'll have time enough to decide your career path later.
ANU is renowned for its students finding work in their chosen field immediately after graduation. Indeed, studies show that, for four years running, ANU takes top marks for student job placement. What else would you expect from a university that ranks 62nd in the World University Rankings (and fifth in Australia)?
Sydney University of New South Wales (UNSW Sydney)
Not surprisingly, Australia's fourth-ranked university (54th in World Rankings) offers a host of finance and finance-related courses. Here, you can earn your Bachelor's degree in Economics or Actuarial studies. You may also earn a double degree in Actuarial Studies and Economics. But UNSW Sydney does not offer a standalone Finance degree.
As previously mentioned, studying to become an actuary prepares you well for work in government finance offices. You could also work with insurance companies, modelling and calculating probabilities ahead of cataclysmic events. Consider all the flooding we've seen this year. Somebody had to calculate how much possible insurance payouts would total. That's the type of work actuaries do.
For the second half of your degree, you'll develop an understanding of applied econometrics, statistics and analysis. You'll also practise financial mathematics and discover how these calculations influence business and government decision-making. By the time you finish this four-year program, you'll be well-trained for many jobs. Those range from Financial Forecaster to Risk Assessment officer; two of the highest-paid jobs in finance.
University of Adelaide
Of all the schools we visited, only the University of Adelaide (UoA) offered a one-year certificate in any course related to finance. Their Diploma in Business curriculum will introduce you to the business method, including management, accounting and statistics for business. If you're unsure what career to aim for - and even if you're not sure higher education is for you, this preparatory course is ideal.
Once you decide you want to pursue a university degree, this certificate prequalifies you for further studies. You may transfer into their three-year Bachelor of Finance and Banking. This BSc study program will teach you financial modelling, data analytics and statistics for business, and risk and wealth management. You'll also explore various financial institutions; retail and investment banks among them.
Or you could select their Bachelor of Commerce program. It too is three years long but you'll study entirely different spheres of finance activity. This degree plan explores marketing, accounting and corporate finance. Once you master the basics during your first year of study, you may choose up to two fields to specialise in.
If you go for the double-major program, you'll automatically be eligible for membership in Certified Practising Accountants (CPA). And their sister organisation, Chartered Accountants Australia and New Zealand (CA ANZ). That doesn't mean you have to become an accountant. It's just a prestigious distinction that proves you know your finance principles. Considering how time-intensive earning that level of acceptance is, those memberships alone make it worthwhile to study finance in Adelaide.
Along the way, you'll view continuing education as the only way to stay ahead - in life and finance. Both of those organisations routinely sponsor learning initiatives. You may also sign up for finance-related massive open online courses (MOOCs). Leading universities around the world put these certificate courses together. They are generally open to everyone without any pre-qualifications and, often, they cost little to nothing. Happy studies!
Enjoyed this article? Leave a rating!
Loading...
