A financial management degree offers you a wide range of career opportunities. We explain the requirements, contents and opportunities of this degree programme.
Have you ever asked yourself whether you can study finance? And if so, what exactly do you have to study to become a finance manager? In this article, we introduce you to the study of finance in more detail. We talk about the prerequisites of the degree programme, the contents and, of course, the career prospects during and after a successful degree in finance.
The Financial Management degree programme in brief
During your financial management studies, you will learn the necessary specialist knowledge to be able to take on management tasks in the financial industry. You will look at different aspects of the financial industry from different perspectives. Once you have successfully completed your studies, you can, for example, work in the financial planning of medium-sized or large companies or as an independent management consultant.
Interesse am Asset-Management? So gelingt der Einstieg!Study Finance: Contents, Duration & Requirements
These study contents await you in financial sciences
In addition to other business administration content, you will deal with tax law, controlling, accounting, marketing and many other topics in the study of finance and investments.
At the beginning of the degree programme, mainly business basics are covered in order to convey an understanding of business processes and interrelationships. Typical subjects during this time are, for example, business management, business mathematics and cost and performance accounting.
Following the basic studies, students often have the option to choose between different content-related specialisations.
For Example:
- Sustainable corporate governance
- Accounting and Finance
- Business Consulting
- Controlling
- Auditing
Depending on the university, the contents of the finance degree programme may differ. Therefore, be sure to take a look at the information material of the respective educational institution. It is also advisable to compare the contents between different universities.
Study schedule: How long does a Financial Management degree take?
A financial management degree is offered in Germany in both Bachelor's and Master's programmes. The Bachelor in Financial Management usually takes six to eight semesters. The duration depends, among other things, on whether a practical semester or a semester abroad is planned during the programme.
Such a semester abroad or an internship abroad is often recommended during your studies. During this time, you can gain valuable international experience and improve your language skills in the respective foreign language. This also looks good on your CV.
After about six to eight semesters, you finish the Banking and Finance degree programme with the Bachelor's thesis. You then have the option of taking a Master's programme. This usually takes another four semesters. In the Master's programme you can deepen your knowledge or specialise in a particular field.
Which is better: presence study, distance learning or dual finance study?
Numerous universities as well as private institutes offer a degree in finance. Sometimes, by the way, this study programme is also known as "Financial Management" or "Finance Management". You have the choice between different forms of study:
1. presence study
Attendance studies at a university or university of applied sciences usually offer comprehensive training in a specific subject area. It enables exchange with other students and lecturers in face-to-face events. So if you value personal exchange, this could be the right place for you.
2. Distance Learning programme
A distance learning programme in financial management can be suitable for all those who need to be flexible in terms of time and place and who like to work independently. This form of study requires a high degree of self-discipline and organisation: critical self-reflection is therefore required when choosing. Distance learning courses are often offered by private universities. Please note that private institutions may charge higher monthly tuition fees.
3. dual studies in financial management
A dual study programme combines academic studies with practical experience in a working environment. During your studies, the theoretical and practical phases alternate. You usually work together with a permanent company. This type of study is particularly interesting if you want to specialise early on or gain professional experience. By the way, you can also find job offers and practical partners for a dual financial management degree programme on our jobs page!
As you can see, there is no clear "better" or "worse". The choice of the right form of study depends on you and your ideas and preferences: Do you place greater value on personal exchange or on flexibility in terms of time and location? Do you want to gain as much practical experience as possible during your studies or would you rather concentrate on the theoretical content? The decision is entirely up to you.
The biggest network for women in finance in the DACH region
The prerequisites for a financial management degree
The admission requirements for a finance degree vary depending on the university. For a Bachelor's degree programme at universities or universities of applied sciences, you usually need a general higher education entrance qualification (Abitur) or a higher education entrance qualification (Fachhochschulreife). At some private universities, professional experience can also serve as a qualification. The good news is that many universities tend to rely on internal selection procedures, which means that an NC tends to be unusual in financial management studies.
Depending on the university, however, you may encounter further requirements:
- Completion of internships
- Proof of English language skills
- Pass a selection procedure or aptitude test
You can find out which admission requirements the university of your choice has set on the relevant university website and in the description of the degree programme.
For a Master's programme in financial management, the most important formal requirement is a successfully completed Bachelor's degree. As a rule, a Bachelor's degree with a focus on business administration is sufficient. Some universities additionally require a certain number of ECTS points in important core subjects. If you are unsure about the admission requirements for the Master's programme, it is worth talking to the student advisory service.
Women in Asset Management
Are you curious to see what a job in asset management is like on a daily basis? We regularly speak with women in our industry. Read more what these women have to say about their roles, careers and how they balance family and job demands.
"«Frauen sind halt nicht so wertpapier-affin.» Dem wollte ich nachgehen"
Ilse Munnikhof
ING Deutschland
"Ich halte es für wichtig, auch als Mama den Kontakt in die Branche aufrecht zu halten"
Isabella Seidl
Blackrock
"Zurückhaltende Frauen haben es in der Finanzbranche immer noch schwer"
Daria Lebert
Flossbach von Storch
In addition to the formal requirements, an interest in finance and economic topics is of course important. During your studies, you will encounter subjects such as statistics, accounting and balance sheets. A good knowledge of mathematics is therefore essential and will give you a clear advantage in your studies. A strong understanding of logic and numbers will also help you to successfully complete your studies.
Earn money while studying financial management
During your studies, you still have to pay rent, electricity, food and so on. You may also have to pay monthly tuition fees at private universities. So the question quickly arises as to how you can finance your life and your studies. There are various options here.
1. finance studies: salary through working student jobs
A working student job offers the chance to gain practical experience while studying and earn money at the same time. Many companies in the financial industry are desperately looking for working students in various fields of activity. Take a look at our jobs page! There you can filter by type of employment (in this case "working student") and by location.
2. dual studies in financial management
If you complete a dual study programme in financial management, you will work comparatively hard. Of course, the company that employs you pays you a monthly salary. The advantage is that this salary continues to be paid even during the theory phases. The actual amount depends on the company, the industry and your negotiating skills. The salary can often be supplemented with additional benefits. For example, by covering tuition fees, book costs or special payments such as holiday or Christmas bonuses.
3. BAföG from the government
Students can apply for BAföG under certain conditions to receive financial support from the state. Submitting the application takes some time. However, the effort can be well worth it financially. You can find out who is eligible for BAföG, what types of funding are available and how to apply for BAföG on the website of the Federal Ministry of Education and Research.
4. scholarships for talented people
For particularly talented or also (socially) committed students, there are scholarships that offer financial support. The benefits and requirements vary greatly depending on the scholarship provider. You can find an overview of different scholarships at hey-uni.de, for example.
Future prospects: Salary & Career as a Finance Manager
With a degree in finance, you can pursue different professions in different industries. For example, the degree is suitable for a career in banking, the finance industry, auditing and management consulting. Good to know: The highest position for finance managers is that of CFO (Chief Financial Officer).
And what do you do as a finance manager? Here is a selection of activities:
- Create liquidity plans
- Prepare cost-performance calculations
- Determine capital requirements
- Analyse key figures
- Controlling of the company figures
Financial management studies: This is the salary you can expect
As an expert in dealing with numbers, you are in demand and are rewarded with an attractive salary. As a rule, finance managers earn very well. Even at the beginning of their career, they can achieve gross salaries of up to 4,200 euros per month. Experience and company size are decisive for your salary as a finance manager. After a few years of professional experience, earnings of around 6,000 euros gross per month are not uncommon. In top positions, finance managers can receive a monthly gross salary of 10,000 euros or even more.
Conclusion: Ladies, have courage!
If you have a knack for working with numbers and are interested in economic topics, then studying financial management will certainly not be too difficult for you. So don't be afraid to study financial management! With regular working hours, extensive corporate benefits and above-average salaries, the financial sector offers extremely attractive jobs.
Übrigens: Vermögensberaterin kannst du auch im Rahmen einer kaufmännischen Ausbildung werden!
About Fondsfrauen
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Simin Heuser is a freelancer and works for various investment fund companies and financial firms. She also writes as a freelance author on financial and insurance topics.