Deciding to pursue higher education is a great decision. Choosing the right degree can prepare you for a lifelong career. According to the researchers at Georgetown University’s Center on Education and the Workforce, nearly 70% of all jobs will require a bachelor’s degree by 2018.
This means it’s now time to make a firm decision about your degree. If you are a logical, critical thinker, you may be asking yourself, “Should I pursue a tech or finance degree?” While they are very different industries with different careers, they both employ the same type of thinking. Deciding on a technological degree or financial degree is crucial – it will dictate the rest of your career.
Similar, Yet Different, Industries
Technological and finance industries both utilize the same type of thinking – critical thinking. They rely heavily on the procedural analysis and interpretation of data. However, the industries that have stemmed off of this process are dramatically different. The technology industry uses this procedure to create new systems, products and processes. They aim to advance the capabilities of technology. Conversely, the financial industry uses this procedure to make investments, grow the economy and earn a profit.
In-Demand Degrees for Tech and Finance
A degree is required to enter both of these lucrative and growing fields. Below are the common degrees that employers in these industries require:
- Master’s Degree in Finance – This degree is designed for those who wish to find a career as a financial analyst, investment manager or a corporate financial advisor. While these positions only require a related bachelor’s degree, employers prefer applicants that have earned a master’s degree. This master’s degree will specifically prepare students to enter these positions by providing actionable information.
- Master’s in Business Administration – A master’s in business administration (MBA) has several overlapping fields with a master’s in finance. However, it provides more information about generic management. This degree is diverse and covers several elements of business. This degree is ideal for those interested in entering management and is highly sought after by employers in several industries, including technology and financial industries.
- Information Technology Degree – This bachelor’s degree is geared towards the business and communication applications of technology. Students can specialize in a specific IT field when they pursue a master’s degree, however they will typically be able to find employment with a bachelor’s degree. Thanks to the popularity of this degree, students can now receive their information technology degree online. Employers in every industry will require an IT specialist, as will IT firms.
The tech and finance industries are both projected to grow by 30% and 20% respectively by 2018 according to the Department of Labor. This makes finding employment in these industries a sound decision for those seeking job security. Below are popular careers for the above degrees:
- Financial Manager – A financial manager is responsible for designing strategies to ensure the financial viability of an organization or business. Banks, insurance companies and other financial institutions all have a need for financial managers. According to the Bureau of Labor Statistics (BLS), the average salary for a financial manager is $103,000.
- Computer Systems Analyst – These specialized analysts are responsible for studying and analyzing an organization’s networks and systems. They provide suggestions to decision makers to help the organization operate more efficiently. They must understand the needs and limitations of both the business and IT resources. Analysts can expect to earn an average salary of $77,000, according to the BLS.
Try Them On For Size
Still undecided? If you do not have a strong preference for tech or finance, consider pursuing an entry-level or internship position in both industries. This will give you a first person insight into what is required of employees. You will receive a sampling of what your prospective career will be like. You can use this impression to guide your career decisions.
Choosing between tech and finance can be a difficult decision. They both utilize similar skills; however they have drastically different careers. Consider your own inclinations and interests to help you make this crucial decision.
Jake Westmore is a contributing writer and computer programming student. Jake hopes to develop the skills necessary to design systems that make others’ lives easier. He is currently attending a prestigious university to help him achieve this goal.