Finance (2024)

FAQs

What is a good answer to why finance? ›

Sample Answer #1:

I'm excited about the dynamic nature of the industry and the opportunity to continuously learn and adapt to new market trends. Pursuing a career in finance will enable me to leverage my skills and contribute to the financial success of organizations."

Rule No.

1 is never lose money. Rule No. 2 is never forget Rule No. 1.” The Oracle of Omaha's advice stresses the importance of avoiding loss in your portfolio.

I pursued an MBA in finance which has equipped me with technical knowledge and a strong foundation to qualify for this job. I understand the industry trends, and I believe I have the right acumen for this job. I'm keen to use my knowledge and gain some more.

Many finance professionals love the scope and dynamic aspects of their jobs. They like being able to tap their technological know-how, methodical approaches to problem solving and deep understanding of how businesses work.

What Is Finance? Finance is a term for matters regarding the management, creation, and study of money and investments. It involves the use of credit and debt, securities, and investment to finance current projects using future income flows.

1) Debit what comes in - credit what goes out. 2) Credit the giver and Debit the Receiver. 3) Credit all income and debit all expenses.

What is the 7% rule in finance? ›

It aligns with common retirement planning guidelines. Many financial experts recommend saving 10-15% of your income annually for retirement. Since many employers match 3-5% of income in retirement accounts, the seven percent rule gets you well on your way towards meeting typical retirement savings targets.

The 4% rule limits annual withdrawals from your retirement accounts to 4% of the total balance in your first year of retirement. That means if you retire with $1 million saved, you'd take out $40,000. According to the rule, this amount is safe enough that you won't risk running out of money during a 30-year retirement.

The greatest advantage of a finance career is that you will not stagnate in a single position. With a finance degree, you can explore the top careers in finance, from investment and retail banking to financial law, financial services, and more. There are varied career paths for people with different interest areas.

The Benefits of Working in Finance

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

"I think finance as a whole is pretty interesting--all the moving parts that allow the industry as a whole to function. It sounds like there would be pretty interesting technological problems to solve as well, seeing how critically software has developed alongside/with finance businesses." Or something like that.

Strong financial knowledge and decision-making skills help people weigh options and make informed choices for their financial situations, such as deciding how and when to save and spend, comparing costs before a big purchase, and planning for retirement or other long-term savings.