Confused about taxation, can’t tell how macro and microeconomics differ and in need of some finance study tips? Finance a complex subject that draws on many subjects: mathematics, accounting, business, marketing, economics, communications, and even data science, requiring plenty of focus and commitment for students.
A finance degree will prepare you for a wide range of job opportunities. The regulars ones are banks and financial institutions, but you will never be in short of job openings in many other industries such as energy, biotech, communications, and pharmaceuticals. From 2018 to 2028, expect the demand for finance professionals to not dwindle. The Bureau of Labour Statistics predicts that employment of business and financial operations occupations will grow 7%, adding about 591,800 new jobs to the U.S. economy.
First things first, you’ll need to master the fundamentals and graduate. Here are 4 top study tips to help you reach this goal.
Organise your notes
There are several different concepts in the various classes that finance students take, from business management courses to financial modelling.
When it’s time to study or complete an assignment, messy notes that are all over the place can demotivate you.
Robert Palasik, who graduated with an MSc Finance & Economics from Warwick Business School, said, “Having to take exams on approximately 40 lectures worth of materials per term can seem daunting. But it can be made easier by going through whatever is covered during classes with the question of “How can this be examined on?” immediately after class, and making a separate collection of revision notes and reading notes after each week.
“Thus when exam term comes around, you will have a neat collection of notes listing all concepts useful for exam, and memorising what you need to remember and seeing the connections between topics will then be much easier.”
Being organised is also important when you enter the working world. Jobs in finance often require you take on different duties on a daily basis, so you’ll need to be organised to keep track of all your tasks.
Universities today are moving away from traditional learning that requires memorisation towards practical learning so that students can apply their knowledge in the workplace when they graduate.
Instead of remembering key concepts and theories, one of the best study tips for students is to learn how to apply them to real-world scenarios when you’re studying. You can use practice exercises and past exam papers to test yourself on practical application.
Practical learning also brings concepts to life, as finance subjects can be dry for some. You will become more engaged and interested when you actually learn how to apply financial concepts in the real world.
Not only will this make you a more effective learner, but you’ll also be more prepared for your exams and the future workplace.
When you enter the working world, there are no scheduled work breaks. You will often have to manage your time efficiently and independently while working around meetings, appointments, and other requirements of the job.
If you’re easily distracted when studying, chances are that you’ll also become easily distracted when you start working.
Learn how to minimise distraction so you can focus more on your studies, such as putting your mobile phone away or closing distracting websites and social media pages.
Break up your study sessions
Cramming a whole semester’s worth of studying into one study session is likely to burn you out. It’s better to break up your study sessions over a few days, and don’t forget to schedule in some time to relax between your studies.
Learning how to schedule your time efficiently for work as well as leisure will help you in your future career as well. You will be more well-rested and productive so you don’t get easily stressed out, which can take a toll on your mental and physical health.