Should I study finance or electrical engineering?
Financial management degree
The course at a glance
If you want to steer towards a career in financial management, you have various options to get closer to your goal. Many are studying economics with a focus on finance. Another option is to complete a corresponding master’s degree. But there are also undergraduate courses in financial management, some with an international focus.
The financial management degree and the later work is very mathematical, which is why it is particularly suitable for arithmetic experts. This can be, for example, business owners. The specialist in financial advice and the specialist in financing and leasing are particularly suitable as a basis. But other interested parties who enjoy working with numbers can also find a responsible job in financial management.
In professional practice, the main aim is to analyze and control the flow of money in the company. Finance managers are in demand when it comes to investments in the company, but also when it comes to the continuous accounting of income and expenses. With their work, among other things, they ensure liquidity and check corporate processes to see whether they are profitable and how they can be optimized.
Provider of financial management studies
Various private and state universities offer a degree in financial management. There are different focuses and study models. Interested parties can study financial management here:
The financial management course is possible full-time, part-time or as a distance learning, depending on the university. In distance learning, graduates can adapt the amount of material to their own learning pace. This is a decisive advantage, especially for those who want to study financial management part-time. Some courses are internationally oriented or contain other financial specializations. For those interested, it is worth taking a closer look at the curriculum of the individual providers. Those interested can find an overview of studying financial management in Germany on StudyCheck.de. In addition, experience reports from students and graduates on the portal offer an insight into the respective courses.
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A university entrance qualification is usually a prerequisite for studying financial management. This includes the Abitur, the technical college entrance qualification and the subject-specific university entrance qualification. In certain cases, a relevant professional qualification such as further training to become a specialist is sufficient. At some universities, a local numerus clausus (NC), accumulated waiting semesters and a personal interview also decide on admission. Anyone wishing to study the subject as a master's must have an undergraduate degree in economics.
In addition to the relevant school leaving certificate, prospective students should have other personal qualities in order to be successful as a finance manager. This includes, for example, analytical thinking skills, having fun with mathematics and dealing with numbers, and leadership skills.
The content of the financial management degree depends on the focus and orientation of the respective degree program. Essentially, the course conveys extensive business knowledge and the basics of management. These contents are provided for in most courses:
- Business Mathematics
- Tax law
- Corporate and human resource management
Procedure and conclusion
The undergraduate financial management course takes 6 or 7 semesters, depending on the university, and ends with a bachelor's degree. Depending on the course of study, internships and semesters abroad can also be included. At some universities, the final examination includes, in addition to the bachelor's thesis, a practical project that the students carry out in a cooperating company. Due to the close practical relevance of the financial management course, the bachelor's degree enjoys a high reputation in the economy.
The master’s degree usually lasts 4 semesters. In the case of international orientation, semesters abroad can also be planned here. Some universities offer the course on a part-time basis. In the last semester, the students write a master's thesis and thus complete their studies.
With a degree in financial management, graduates qualify for managerial positions in companies in various industries. As numbers specialists, they are sought-after employees, which is reflected in attractive salaries and also in the current job market: More and more companies are trying to top up their finance department with highly qualified staff. This is borne out by the large number of job vacancies that particularly appeal to financial experts with a university degree.
As a rule, finance managers earn extremely well. Even young professionals can earn salaries of up to € 3,700 gross per month. In the profession, however, experience plays a role above all: With increasing professional experience, earnings of € 5,000 are not uncommon. In top positions, finance managers earn € 10,000 or more per month.
That is why it is worth studying financial management:
- Numbers professionals are rare - and salaries are correspondingly attractive.
- Degrees in financial management are practical and highly regarded in business.
- The career prospects in financial management are extremely promising: management positions beckon!
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