Finance is one of the most lucrative and rewarding professions in Canada. Those that work in finance may pursue a variety of different career paths in corporations, banks, government, and private firms. While you might assume that working in finance will mean that you have a love for money, the reality is that the financial sector can appeal to people from a wide range of backgrounds and strengths. To be sure, there will be many that are interested in pursuing the high income and elevated social status that comes with certain financial careers. But even if you are not interested in becoming a banker on Bay Street or Wall Street you will find plenty of options that involve helping others achieve their financial goals or making the economy stronger.
Of course, you don't have to make a commitment to any specific type of finance career when you start out. In fact, what matters most is that you build a foundation of knowledge that will enable you to start working in the field so you can start figuring out what areas you want to specialize in. Your journey will likely begin in secondary school, where you will want to ensure you have academic track mathematics, English, and business courses under your belt. Once you get a sense of which schools you are interested in attending, you can start making long range plans that will likely involve time in the workplace, and possible more time pursuing a graduate business degree such as a Master's of Business Administration (MBA).
But what is the study of finance all about anyway?
The study of finance encompasses the process of raising capital for different expenditures. Those that work in finance channel the funds accumulated by savers and investors and put them toward productive use by governments, business firms and individuals. In return, those that invest money receive interest and dividends. Banks, commercial banks, savings banks, credit unions, insurance companies, pension funds, investment companies, and finance companies are some institutions that facilitate the movement of money from investors to users.
As a finance professional, you may work with individuals to help them make sound financial decisions about investing in different portfolios or asset classes. You might also work with companies to help them grow their resources, through acquiring other businesses with capital borrowed from institutions or investors. You might sell specific financial products to individuals, or work as a leader in a bank or institution.
The corporate world brings to mind sharp suits, long hours, and greedy capitalists.. And while our impressions are largely drawn from fiction, there are elements of the corporate lifestyle that are certainly intriguing and appealing to those interested in business careers.
Is it Possible to Learn Finance Online?
The pandemic accelerated the variety and availability of online learning options available in nearly all subject areas, including the area of finance. But why would you choose one and not the other? Let's take a closer look at the pros and cons of learning finance online.
Benefits of Learning Finance Online
If finance is a career change for you and you are already full time, or you have been out of the workforce for awhile and want more time with your family, or if you simply feel more comfortable learning from the comfort of your own home, learning remotely may be the ideal option. When you learn remotely, you won't have to worry about having a long commute into campus - which is great for saving money on transportation and other hidden expenses like meals and parking. You simply need a reliable internet connection, a device, and a way to track your schedule so you don't miss classes and meetings.
Learning remotely also means you can learn from just about anywhere, so you can pick whichever college or university you want. Gone are the days where you would have to pick a school close to your residence! This is a great option if you live in a rural community, or if you live somewhere far from the school of your dreams.
Here is a list of some Canadian schools and universities that offer remote learning options for finance:
- Athabasca University
- Queens University
- University of Toronto School of Continuing Studies
- Centennial College
- Bow Valley College
- Saskatchewan Polytechnic
- York University
Public finance is an area of commerce that many often overlook because it often does not align with our initial preconceptions of what a finance career should look like. Learn more about the field of public finance.
Benefits of Learning Finance in Person
While online learning undoubtedly has its benefits, attending college or university in person has many benefits as well. First of all, it is great to be able to have the postsecondary experience in person. The social life, late night study sessions, and experience of being independent at school for the first time is one that you will always look back upon as some of the most enjoyable times of your life - though you may not feel it at the time!
There is also the benefit of being around your professors and teachers, having conversations and discussions that occur organically when you are with classmates, and networking. You may make friends and classmates that you will see long into your career, and having that connection can be one that leads to many future opportunities.
Another big benefit to learning in person is the availability of program options. While online learning has expanded, you will still find many schools that only offer degree programs for traditional, in-person learning. And yes, while you may have a long commute or residence fees, you will get to enjoy the many amenities that large institutions offer - gyms, clubs, sports, libraries, lounges, and so much more.
Ultimately, the option you choose will largely depend on what your budget is like, where you live, the lifestyle you prefer, and your financial and personal responsibilities. Make the best choice for yourself by creating a chart, and seeing whether or not the pros outweigh the cons in either way. If you are still stumped, check out which schools offer blended programs - then you can enjoy the best of both worlds!
Finance is a broad field of work that attracts thousands of Canadian students every year. Find out if the world of finance is right for you.
Is Finance E learning Right for Me?
E-learning may also be a choice you make based on your own learning needs. All students have different learning needs and preferences, some may be personal while others may be diagnosed learning exceptionalities. These preferences and diagnoses must be considered along with other circumstances, such as budget and family responsibilities.
The best way to assess whether or not you will be successful in a remote or e-learning program is to talk to your secondary school guidance counsellor, a career counsellor, or the admissions office of a university or college you are considering. They may have questions you might consider when making a choice. Here are a few to keep in mind:
- Do you feel comfortable using different learning technologies?
- Do you find that you retain more information from in-person or virtual contexts?
- Do you have any diagnosed learning exceptionalities?
- Do you prefer to be in a social environment while learning?
Having knowledge of personal finance can be incredibly useful. Understanding how to manage your money will help you to make better decisions with your earnings, and you may even be able to help others with your skills.
Is it Possible to Get a Job Teaching Finance?
If you see yourself as more of an educator, you can certainly get a job teaching finance. You would need the appropriate qualifications, to start - a masters or a doctorate would be ideal, particularly if you plan on teaching students at the undergraduate or college level. You will also want to have some practical experience in the finance field. Because finance is a practical and students look to entering the workforce, you will be in a much better position to get a job if you have experience in the field.
Another way to enter the education field in finance or business would be to teach at the high school or secondary level. Most provincial curriculum have business and finance as courses for secondary school credits, so you could leverage your finance knowledge this way. To work as a secondary school educator, you would have to get your teaching certificate in your province, which will require you to have a university degree at a minimum.
Learn all about finance careers - what they pay, what jobs look like right out of school, and how you can become a leader in the finance field.
Where Can I Find a Finance Tutor Near Me?
Already in a finance program and need help with your courses? Consider getting a finance tutor to help you accelerate your learning. Finance programs require a lot of mathematical knowledge and subject specific vocabulary. A tutor can help you acquire the skills you need, review learning in class, and help you prepare for big tests and exams. Finding the right tutor for you is easy thanks to Superprof Canada. Superprof is a site that connects students and educators who you can pay to help you succeed in your courses. Use the site to search knowledgeable finance tutors near you! You can meet your tutor remotely or safely in person.
Find a tutor on Superprof today!
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