What are Some Benefits of Studying Finance at a Liberal Arts School?

There are definite long-term benefits to studying a finance related degree at a liberal arts school. There are advantages for student’s personal lives, financial situations and career plans.

Resource: 30 Great Small Colleges for an Accounting and Finance Degree 2015

Critical Thinking Skills

A liberal arts education teaches students how to challenge how they think, make decisions and process information. In order to properly grow and function, the brain needs diverse stimulation and development. A liberal arts education teaches students useful techniques for critical analysis and thinking. Students will learn to compare and contrast financial concepts and accounting principles. A liberal arts education will train students how to become lifelong learners, which will help finance-based professionals absorb new ideas and experiment with new strategies. Liberal arts education programs focus on holistic analysis and worldviews, so students will develop a broader view of their industries.

Creativity

Liberal arts-based programs emphasize innovative thinking and creative problem solving. Most business professionals consider financial careers to be being boring and traditional, but these jobs require creative solutions and managerial techniques. Corporate hiring managers want candidates who will challenge traditions and streamline processes through applying their liberal, innovative thinking. In order to survive, companies need quality programs and improvement ideas that increase efficiency and client satisfaction. None of these can occur without open-minded professionals who are comfortable with change. Accounting and investment companies need professionals who can create effective internal controls and self-monitoring systems that maintain compliance with mandatory regulations. Financial professionals with creative viewpoints and new perspectives will increase financial accuracy and transparency.

Core Skills

A finance-based degree program in a liberal arts college will provide many opportunities to develop soft skills and core business competencies. This includes research, analytical reasoning, organizational skills and communication competencies. For example, an accounting professional must have strong reading skills to review data and stronger writing skills to smoothly translate complex financial data into succinct reports. They also need strong speaking skills to persuade and educate others. A liberal arts education encourages students to develop their analytical abilities through scrutinizing and critiquing intricate information. As a result, an accountant will be able to apply and translate bland financial data into meaningful, real-world scenarios.

Career Flexibility

Most workers change their jobs between five to 15 times during the span of their whole career. A working professional who has a business background and liberal arts education perspective will be ready to easily transition between different jobs. This means that financial professionals will be prepared to deal with unstable job markets while enjoying expanded career choices. On the other hand, students who are restricted to a single business field, such as sales or marketing, may experience limited career options and flexibility. After graduating with a liberal arts-based Bachelor’s degree, the student will be ready to pursue graduate level specializations. A liberal arts education also prepares students for graduate school because they have the thinking, communication and cross-disciplinary skills needed to successfully finish a Master’s degree program.

One of the final benefits of graduating with a finance degree from a liberal arts college is that students will most likely move up the ranks of management faster because of their interpersonal and critical thinking skills.