Associates in Finance vs. Bachelor’s in Finance – Differences to Consider
- Time Spent in College
- Financial Obligation
- Type of Coursework
- Job Opportunities
- Wage Potential
Individuals pursuing finance careers typically earn degrees based on their career goals. This is why it’s important they know the differences between Associate in Finance and Bachelor’s in Finance degree programs. Both degrees prepare students to work in the finance industry. However, there are various ways in which the two degrees differ, including:
- coursework
- financial obligation
- length of studies
- career potential
Knowing the differences between the associate and bachelor degree can help you choose which degree best matches your career goals.
1. Time Spent in College
One of the major differences between the associate degree and the Bachelor’s in Finance is the time required to complete the program. A student attending college full time can complete the associate degree in about two years. The bachelor’s degree, on the other hand, takes about four years to complete. If you are attending college on a part-time basis, it’ll take even longer for both. But the associate degree will always be faster. Both programs may be offered as online program options. Depending on your time and commitment, online programs can shave some time off the schedule. However, it can also add on more time. Students often choose the associate degree because it’s quicker.It allows them to enter the workforce sooner rather than later.
2. Financial Obligation
The exact cost to earn a degree will vary from college to college, but typically, an associate degree is much less expensive to earn than a bachelor’s degree. Occasionally, schools offer a cost per program, but tuition is usually charged per credit. Because the associate degree student is in college for half the time, it makes sense that the associate degree program is going to cost less money. An associate degree program usually requires about 90 credits. The bachelor’s degree requires 180 credits. If the school charge $50 per credit, you can see the difference. There’s quite a substantial difference when you factor in additional costs for:
- books
- commuting
- housing
- miscellaneous fees
3. Type of Coursework
Bachelor’s degree programs provide a more in-depth study into finance and have more complex courses. An associate degree finance program has basic finance courses. The baccalaureate program offers advanced courses. Both degrees are going to require completing general education courses. An individual who already has an Associate in Finance may transfer these credits into a bachelor’s degree. This can eliminate a few of the required courses. Bachelor’s degree programs often require a project be completed by the end of the program.
4. Job Opportunities
Financial and business jobs are expected to be more in demand in the future. According to the U.S. Bureau of Labor Statistics, about 773,800 new finance jobs will be created by 2026. This bodes very well for graduates of any finance programs, but bachelor’s degree holders typically find better options. Graduates of associate in finance degree programs may find entry-level work as:
- a financial clerk
- associate analyst
- associate financial advisor
- investor services associate
- loan secretary
Graduates with a baccalaureate degree may find work as:
- a financial advisor
- financial accountant
- financial analyst
- loan officer
- financial planner
5. Wage Potential
Wage potential is another difference between associate and bachelor’s in finance. It might be a huge factor for the individual who is looking for the highest possible wages. Graduates with an associate degree in finance find entry-level work in the banks and financial institutions. Graduates of bachelor’s degree programs are usually qualified for advanced and senior positions and the higher wages that go with them.
Conclusion
Finance careers offer not only excellent wages but also jobs that are challenging and rewarding. Many of the jobs available to finance graduates are ranked among the Best Business Jobs and 100 Best Jobs by U.S. News & World Report. Knowing the differences between an Associate in Finance and Bachelor’s in Finance can help you choose the degree level that will best fit you in the career you wish to pursue.
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