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Why should I study finance?

Aside from the vast career possibilities and growth in the financial sector, it is good and also profitable for everyone to have some sort of financial education. It doesn’t matter if you work in tech or education, consulting or advertising. Your company has to have cash flow to do regular business functions such as pay everyone’s salary, distribute dividends, and reinvest in product innovation. Even if you don’t manage a budget yourself, finance is at the core of business decision-making. If you’re pitching a project or angling for additional funding, understanding and being able to communicate how you can turn that investment into revenue for your organization will help you make a more convincing argument.

Whether you are Vancouver based or plan to go elsewhere in your career, financial literacy is imperative to understand recent technology coming out in the field. No matter the sector you are working in, finance is relevant and can help you better understand your business and your field.

If you're searching for ways to make your resume stand out, studying finance is a good place to start. Especially if you’re entering the workforce as a young professional without extensive experience, demonstrating that you have prior business knowledge before you’re even in the field can make you a more attractive candidate. This is particularly relevant in non-finance fields, where financial education is less common but no less fundamental to running a successful business.

If one day you are hoping to land a managerial position, already having an understanding of finance can demonstrate key competencies to employers. Managers with finance skills are able to better understand their team’s impact on the overall company and make well-informed business decisions.

Is finance a good career?

In today’s world, finance can open a world of opportunities and personal financial stability.

Typically, one cannot go into the world of finance without some form of formal training. Maybe your pathway looks like an MBA, or maybe you’re better suited with some supplemental courses. Either way, it is important to learn how corporate finance works from the ground up as there are many formulas and principles to be aware of.

If you’re local to Vancouver and are interested in finance, you may be interested in financial strategy and control in addition to the ability to influence them. Finance is one of the industries that has a high growth percentage - especially for those interested in or involved in technology. Ever heard of FinTech? Or financial technology? It’s a rapidly growing industry with a vast amount of opportunities for people right here in Vancouver.

No matter where you see yourself in the future, knowing how to manage finances in Vancouver is great for job security and growth. Did you know that your personalized tutoring sessions with our accounting tutors in Vancouver can help you decide which path is better for you? That is one of the many advantages of having a personal, online or in person tutor, just for you and your personal growth!

What pays more; finance or accounting?

If you’re at a crossroads in your academic journey, or investigating your possible career options and are confident that numbers, finance, and/or accounting are where you see your career after studies, you may need a way to decide which path to follow through to the end. Essentially, that’s up to you and what you want out of your future career endeavors. Of course, the possibilities vary with each sector. Accounting is more focused on the day-to-day management of financial reports and records across the business world, whereas finance uses this same information to project future growth and to analyze expenditure in order to strategize company finances. Taking that into consideration, typically accounting will give you a more stable career. It offers lots of benefits and a good pension, but less opportunity for getting rich. On the other hand, a job in finance may mean that you don't have as well-defined a career path. But, you have more opportunity for reaching the higher echelons in terms of salary. Overall, it is noted that those who have a degree in finance make a slightly higher salary than those who have a degree in accounting. However, it is no secret that both degrees are great for job security and growth - it just depends on what you excel in and where you’d like to specialize.

Did you know that your personalized tutoring sessions with our finance tutors in Vancouver can help you decide which path is better for you? That is one of the many advantages of having a personal, online or in person tutor, just for you and your personal growth!