Should I go for a finance degree?

My company is willing to pay up to 75% for a degree that is relevant to my field or the company itself. I’m currently stuck between choosing a finance degree, business management or buisness admin. Currently finance sounds like I’d enjoy it more but haven’t done too much research on the others. Just curious about those who have finance degree or similar how far you got in the corporate ladder and if the pay is worth the stress.

P.S. my company is a fortune 100 if that helps any. Thanks in advance.

Jobadvisor:

That's a fantastic opportunity your company is offering! Let's break down the finance degree versus business management/administration, and how it might impact your career, especially within a Fortune 100 company.

Finance Degree:

• Focus:
  • Deep dives into financial analysis, investment management, risk assessment, corporate finance, and financial modeling.   
  • Develops strong quantitative and analytical skills.   
  • Prepares you for specialized roles in finance departments.   
• Career Paths:
  • Financial Analyst, Investment Banker, Portfolio Manager, Risk Manager, Corporate Treasurer, Financial Planner, and more.
  • Within a Fortune 100, these roles are highly valued and often lead to senior management positions.
• Pros:
  • Specialized knowledge can lead to higher-paying roles.   
  • Strong demand for financial expertise in large corporations.
  • Potential for significant career growth in finance-focused departments.
• Cons:
  • Can be highly demanding, requiring strong mathematical and analytical skills.
  • May be less versatile than a general business degree if you decide to switch career paths.
  • Stress levels can be high depending on the role.   

Business Management/Administration Degree:

• Focus:
  • Provides a broad understanding of business principles, including management, marketing, operations, and human resources.   
  • Develops general management and leadership skills.   
  • Offers a more versatile skill set.
• Career Paths:
  • Management roles in various departments, project management, operations management, consulting, and general business leadership.   
  • Can lead to executive positions but may require more diverse experience.
• Pros:
  • Versatile skill set applicable to various industries and roles.   
  • Strong foundation for general management and leadership positions.
  • May be more suitable if you're unsure of a specific career path.
• Cons:
  • May not provide the same specialized knowledge as a finance degree for finance-specific roles.
  • May require additional specialized training or certifications for certain finance positions.
  • May take longer to climb the corporate ladder in finance related positions.

Finance Degree in a Fortune 100 Company:

• In a Fortune 100 company, a finance degree can be incredibly valuable. These companies have large finance departments and require skilled financial professionals.
• You'll have opportunities to work on complex financial projects, gain exposure to high-level financial decision-making, and potentially advance to senior leadership roles.
• The pay is generally competitive, and the potential for growth is significant.
• The stress level will vary greatly depending on the specific role you obtain.

Factors to Consider:

• Your Interests: Which field genuinely excites you? Finance involves heavy quantitative analysis, while business management is broader.   
• Your Strengths: Are you strong in math and analysis? Or do you prefer broader strategic thinking and leadership?
• Your Career Goals: Do you want to specialize in finance, or do you prefer a more general management path?
• Company Needs: While your company is offering support, consider the specific needs of your department and the company's future plans. A conversation with your manager or HR could be valuable.

Advice:

• Research Specific Roles: Look into specific finance roles (e.g., financial analyst, corporate finance manager) and business management roles within your company or similar Fortune 100 companies. This will give you a better understanding of the required skills and career paths.
• Talk to Professionals: Connect with people who have finance or business management degrees and work in your industry. Ask them about their experiences, career paths, and the pros and cons of their chosen fields.
• Consider a Dual Degree or MBA: If you're interested in both finance and management, consider a dual degree or an MBA with a finance concentration later in your career.
• Leverage Your Company's Resources: Take advantage of any internal training or mentorship programs your company offers.
• Consider your companies tuition reimbursement policy. Some companies require you to remain employed for a certain time frame after recieving tuition reimbursement.
• Consider the long term: A finance degree will open more doors in the financial sector, where as a general buisness degree will open more doors in general business.   

In conclusion:

If you're passionate about finance and have strong quantitative skills, a finance degree can be a valuable asset in a Fortune 100 company. However, if you prefer a broader understanding of business and want more versatility, a business management/administration degree might be a better fit. Carefully weigh your interests, strengths, and career goals before making a decision.

Laid off, no one hiring experience

I am in the corporate world doing valuation work. I was laid off 12 months ago and have not taken any time off in looking for a new job, but the industry is just not hiring experience right now. And yes, there probably is a fair amount of ageism going on. I want to stay in the industry, because it's not an industry where you can leave, try something else, and come back. I think the answer is that I need to explore leaving the corporate world, I just don't know which industries to pursue and where my skills would be transferable. Thoughts?

Jobadvisor:

It's incredibly frustrating to be in a situation where you're actively searching and facing a stagnant job market, especially with the added layer of potential ageism. Let's break down your situation and explore some actionable steps:

Understanding Your Situation

• Valuation Expertise: Your core strength lies in valuation, which involves analyzing assets and determining their worth. This skill is valuable across various sectors.
• Industry Downturn: You've correctly identified that your current industry is experiencing a hiring freeze. This necessitates a shift in focus.
• Ageism: While difficult to prove, ageism is a real concern. It's crucial to focus on highlighting your experience and adaptability.
• Desire to Stay Relevant: You want to remain in a field where your expertise is valued, even if it means branching out.

Transferable Skills and Potential Industries

Your valuation skills can be applied in numerous areas. Here's a breakdown:

1. Financial Services (Broader Scope):
   • Commercial Lending: Banks and credit unions need valuation experts to assess collateral for loans.
   • Insurance: Actuaries and underwriters use valuation skills to assess risk and determine premiums.
   • Financial Planning: Wealth management firms need valuation expertise for estate planning and portfolio analysis.
   • Real Estate Investment Trusts (REITs): These firms require valuation for their real estate portfolios.
2. Government and Public Sector:
   • Tax Assessment: Local and state governments need valuation experts to assess property taxes.
   • Regulatory Agencies: Agencies like the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) employ valuation specialists.
3. Consulting:
   • Business Consulting: Firms that specialize in mergers and acquisitions, restructuring, and financial analysis need valuation experts.
   • Forensic Accounting: Valuation is used in legal cases, such as divorce or business disputes.
4. Technology and Startups:
   • Venture Capital/Private Equity: These firms need valuation experts to assess the potential of startups and private companies.
   • Intellectual Property Valuation: Companies that own patents, trademarks, and copyrights need valuation experts to assess their value.
5. Nonprofit Sector:
   • Endowment Management: Large nonprofits with endowments need to manage their assets, which includes valuation.

Strategies for Transitioning

1. Networking:
   • Expand your network beyond your current industry. Attend industry events, join professional associations, and connect with people on LinkedIn.
   • Informational interviews are invaluable. Reach out to people in your target industries and ask for their advice.
2. Tailoring Your Resume and Cover Letter:
   • Highlight your transferable skills. Emphasize your analytical abilities, financial acumen, and attention to detail.
   • Use keywords from job descriptions in your target industries.
   • Quantify your achievements. Instead of saying you performed valuations, say you "conducted valuations of portfolios exceeding $X million, resulting in Y% improved accuracy."
3. Upskilling:
   • Consider pursuing certifications or courses that are relevant to your target industries.
   • For example, if you're interested in commercial lending, consider courses on credit analysis.
   • Become proficient in new software that is used in the industries you are targeting.
4. Freelancing or Contract Work:
   • Consider taking on freelance or contract work in your target industries to gain experience and build your network.
   • This can also help you demonstrate your adaptability and willingness to learn new skills.
5. Addressing Ageism:
   • Focus on your experience and expertise. Highlight your ability to adapt to new technologies and learn new skills.
   • Showcase your enthusiasm and passion for your work.
   • When networking, focus on the value you bring, and less on your years of experience.
6. Reframing your approach:
   • Consider creating a portfolio of your work, if possible, to show potential employers your skills.
   • When explaining your layoff, be positive and focus on the skills you gained and the opportunities you are seeking.
   • Consider working with a career coach, who can help you refine your job search strategy and build your confidence.

Key Takeaways

• Your valuation skills are highly transferable.
• Networking and tailoring your resume are crucial.
• Be open to exploring new industries and upskilling.
• Do not give up, and stay positive.

By proactively exploring new opportunities and effectively showcasing your skills, you can overcome the challenges you're facing and find a fulfilling career path.

What are some more "recession-proof" careers I should consider transitioning into?

I've been in marketing for most of my career, with additional experience in account management (non-sales), project coordination, technical writing, editing, and proofreading. Unfortunately, l've been laid off more than once due to budget cuts, and this time around has been the longest I've gone without finding a new role. It's starting to really wear on me and I’m getting really worried about what I’m going to do when my money runs out.

I'm seriously considering switching fields entirely if it means more job security, and possibly looking into certifications or training to help with that. I'm not expecting bulletproof stability, but l'd love to hear from anyone who's made a similar shift - what fields tend to weather economic downturns better? And how hard was it to break in?

Appreciate any advice or insights.

Jobadvisor:

It's completely understandable that you're seeking more stability, especially after multiple layoffs. Economic uncertainty can be incredibly stressful. Let's explore some career paths that tend to be more "recession-proof" and consider how your existing skills might translate.

Fields with Higher Recession Resilience:

• Healthcare:
  • People will always need healthcare, regardless of the economy.
  • Roles: Nursing, medical assisting, healthcare administration, medical coding/billing, and health IT.
  • Your Skills: Technical writing and project coordination could be valuable in healthcare administration or health IT.
  • Breaking In: Certifications or further education are often required.
• Essential Infrastructure & Utilities:
  • These sectors are vital for basic living and are less susceptible to economic fluctuations.
  • Roles: Electricians, plumbers, water treatment operators, and utility technicians.
  • Your Skills: Project coordination and technical writing could be helpful in project management or documentation roles within these industries.
  • Breaking In: Apprenticeships or vocational training are typically necessary.
• Information Technology (IT):
  • While some tech sectors are vulnerable, core IT functions remain essential.
  • Roles: Cybersecurity, cloud computing, data analysis, and software development (especially in essential industries).
  • Your Skills: Your technical writing, project coordination, and account management experience could be valuable in IT project management, technical documentation, or client-facing roles.
  • Breaking In: Certifications (e.g., CompTIA, AWS, Cisco) or online courses can be helpful, and a portfolio of projects is essential.
• Government & Public Sector:
  • Government jobs tend to be more stable, with less fluctuation during economic downturns.
  • Roles: Civil service positions, public administration, and roles in essential services.
  • Your Skills: Your technical writing, project coordination, and account management skills are highly transferable to government roles.
  • Breaking In: Government jobs often require competitive exams and adherence to specific application processes.
• Skilled Trades:
  • Demand for skilled tradespeople often remains strong, even during recessions.
  • Roles: Electricians, plumbers, HVAC technicians, and welders.
  • Your Skills: While these roles are very different than your past experiences, your project coordination skills could be beneficial when moving into project management roles within these industries later in your career.
  • Breaking In: Apprenticeships or vocational training are generally required.
• Accounting and Finance:
  • Businesses and individuals always require financial management.
  • Roles: Accountants, auditors, tax preparers, and financial analysts.
  • Your skills: Account management experience may be helpful, but additional training will be needed.
  • Breaking in: Certifications and degrees are very helpful.

How Your Existing Skills Can Help:

• Technical Writing: This is a valuable skill in many industries, including IT, healthcare, and engineering.
• Project Coordination: Your ability to manage projects and timelines is transferable to various fields.
• Account Management: This experience demonstrates your ability to build relationships and manage client needs, which is valuable in client-facing roles.
• Editing and Proofreading: Attention to detail is crucial in many fields, including healthcare, finance, and legal.

Recommendations:

• Assess Your Interests: Consider what you enjoy doing and what aligns with your values.
• Research Specific Roles: Investigate the required skills, certifications, and education for each career path.
• Consider Online Learning: Platforms like Coursera, edX, and Udemy offer courses and certifications in various fields.
• Network: Connect with people in your target industries to learn more about job opportunities and gain valuable insights.
• Don't Underestimate Transferable Skills: Highlight your existing skills in your resume and cover letters, emphasizing how they relate to the new roles you're pursuing.
• Consider temp work: While searching for a new career, consider temp work, or contract work in your old field, or in a new field to gain experience. This can help with income, and also with networking.

It's important to remember that career transitions can take time and effort. Be patient, persistent, and open to learning new skills. Good luck!

Back when I needed a job for money, all too often I was like "whoa, stfu, you're asking too many questions, how much are you paying again?"

Seriously. Interviews these days are more like a fucking CIA interrogation. Like there was this fool offering a CSR position for barely above minimum wage, def not nearly enough to maintain a high standard of living, not even close, and this fool was interrogating me with like 30 different question. I was like "sis, this is a... customer support rep job for barely above min. wage, you're not paying nearly enough for me to be THIS involved"

And needless to say, I had too much self-respect to be abused, so literally 10 min in, I just ended the interview abruptly by disconnecing TEAMS, I didn't say anything, just clicked on Disconnect and boom, went about my day. What a damn clown these employers are these days...

Jobadvisor:

It sounds like you've had some incredibly frustrating experiences with job interviews. The disconnect between the level of scrutiny and the offered compensation is a common complaint, and your reaction, while perhaps abrupt, reflects a clear sense of your own worth.

Here's a breakdown of some of the issues you've highlighted, and some thoughts on how to navigate them:

• Disparity between Job Demands and Pay:
  • You're right to question the intensity of an interview for a low-paying, entry-level position. Many employers seem to demand extensive qualifications and commitment for roles that offer minimal financial reward.
  • This can be a sign of a mismatch between the employer's expectations and the current job market.
• The "CIA Interrogation" Phenomenon:
  • Excessive questioning can be a tactic used to assess a candidate's resilience and problem-solving skills, but it can also be a sign of poor hiring practices or a toxic work environment.
  • It's important to remember that an interview is a two-way street. You're also evaluating the employer.
• Self-Respect and Boundaries:
  • Your decision to end the interview demonstrates a strong sense of self-respect. Knowing your limits and refusing to tolerate disrespectful treatment is crucial.
  • However, abruptly disconnecting can burn bridges. In the future, you could try a more diplomatic approach, such as politely stating that you don't feel the role is a good fit and ending the call.
• The Current Job Market:
  • The job market is indeed challenging, with many employers holding significant power. This can lead to unreasonable demands and a lack of respect for candidates.
  • It is important to remember that not all employers are the same.
• Alternative Responses:
  • While your reaction was understandable, here are some alternative responses you could consider:
    • Directly address the disparity: "I appreciate the thoroughness of your questions. However, given the compensation offered, I'm finding the level of scrutiny to be a bit disproportionate. Could you clarify the expectations for this role?"
    • Set boundaries: "I'm happy to answer relevant questions, but I'm finding this interview to be quite intense. Could we focus on the key aspects of the role?"
    • Politely decline: "Thank you for your time, but after discussing the role further, I don't believe it's a good fit for me. I wish you the best in your search."

It's important to remember that your time and skills have value, and you shouldn't settle for a job that doesn't respect that.