Finance, defined as the art and science of managing money, is considered one of the basic functions of our private enterprise system. Each of the many firms, businesses, institutions, and governmental agencies in our economic system has the problems of obtaining, administering, and managing its funds efficiently and wisely. Nearly every decision made by an organization has important financial implications.

The finance student is introduced to and studies the theory, concepts, applications, institutional environment, and analytical tools essential for proper decision-making. Finance is designed as preparation for a broad variety of careers since all organizations need individuals knowledgeable about finance. With a finance degree, you will be equipped with tools for understanding the function and applications of financial markets and the acquisition and allocation of funds for public and private sectors in domestic and international organizations. You'll learn to access and utilize financial information.

The Finance faculty at CBU provide a blend of extensive academic preparation combined with real-world experience to provide finance students with both the theoretical as well as the practical elements of finance. Our finance concentration offers two focus areas: Financial Management and Investments.  Junior year course work is the same for both focus areas.  In the senior year, Financial Management students study advanced financial management as well is International Financial Management.  Investments students focus on Derivatives and Portfolio Management. Students in either focus area are required to complete an internship or research project designed to prepare them to enter the corporate world at graduation.  Our finance students have interned at local firms including Fedex, Morgan-Keegan, Green Square Capital and UBS. Working under the guidance of a member of the finance faculty, this senior experience provides our graduates with an invaluable opportunity to enhance their resume as well as transition smoothly from college to corporate.

Careers may be in financial management and analysis, banking, financial institutions, financial markets, investments, portfolio analysis and management, financial planning, and multinational finance. Finance is also considered excellent preparation for graduate study in law or business. Job prospects in finance are expected to grow faster than average for the next 10 years.

The opportunities with a finance degree span many areas including corporate and international financial management as well as personal financial planning and investment services. Brokerage firms, commercial and investment banks, insurance companies, and other financial intermediary companies employ finance graduates.

Financial analysts play an integral role in today's competitive economy. Since the 1970s, job opportunities in finance and banking have flourished, due to the increasing complexity of investment options. A financial analyst will research a client's or organization's financial status, including their history, risk tolerance, and current expenditures and investments. They make recommendations based on financial goals and business environments.

Specializations within the financial analyst trade include budget analyst, credit analyst, investment analyst, merger and acquisition analyst, money market analyst, ratings analyst, risk analyst, tax analyst, treasury analyst and personal financial advisors. There are currently over 230,000 financial analysts and personal financial advisors working in the U.S., making between $29,500 to 55,000 to $107,000 per year, depending on their industry and professional status.

If you work in financial consulting, your main role will be to provide advice on securities pricing, strategies for creating shareholder value, business valuation, economic forecasts and analysis, and input into treasury management.

As a finance manager, you will direct financial reporting, investment activities, and cash management strategies at any number of professional or government organizations. Median salaries in 2002 were about $73,000 with the top 10% earning over $142,000. Financial management calls on your creative thinking and your ability to see the broad business picture and then direct your team accordingly.

There is a tremendous range of opportunities in commercial banking. While the banking sector continues to consolidate, more people are employed in commercial banking than any other part of the financial services industry.

A career in corporate finance means you'll work for a company to find the money to run the business, grow it, make acquisitions, plan for its financial future and manage any cash on hand. You might work for a large multinational company or a smaller firm with high growth prospects. The key to performing well is to work with long-term goals. Many people think that corporate finance jobs are the most desirable in the field. As a financial officer, you'll concentrate on areas such as liquidity, flexibility, compliance with laws and regulatory support.

In investment banking, finance professionals work within companies and governments to issue securities, help investors trade securities, manage financial assets, and provide financial advice. Smaller firms may be oriented toward bond-trading, M&A advisory, technical analysis or program trading.

Money managers hold stocks and bonds for institutional clients and are on the buy side of Wall Street. Money managers must be proficient in the latest sophisticated quantitative methodology. Many people cross over into money management after years of experience in selling positions in investment banks. A solid background in portfolio theory, fixed income investments, and CFA certification is required.

Financial planners concentrate on helping individuals with their financial futures. This work requires excellent interpersonal skills. A good financial planner understands investments, taxes, estate planning issues, and knows how to listen. You can practice within a company or as a sole proprietor, if you have strong entrepreneurial skills.

The demand within the trillion-dollar insurance industry for finance degree graduates is also strong as our population gets older and wealthier. Jobs in insurance involve helping individuals and businesses manage risk to protect themselves from catastrophic losses and to anticipate potential risk areas. You help clients understand their insurance needs, explain their options to them and assist with the selection of appropriate policies. Career options in insurance include underwriter, sales representative, asset manager, and customer service rep. The median salary for insurance agents and brokers in 2000 was $42,000.

As an underwriter, you would require further training and credentials such as an AU (Associate in Commercial Underwriting), an API (Associate in Personal Insurance), CPCU (Chartered Property and Casualty Underwriter), CLU (Chartered Life Underwriter), or RHU (Registered Health Underwriter) - depending on your area of specialization. Or you can train further to become an actuary.

Real estate careers such as title insurance, construction, mortgage banking, property management, real estate appraisal, brokerage and leasing, and real estate development are also open to finance graduates. Over a third of the world's wealth involves real estate. You need a regional license to be a real estate broker, and many employers prefer to hire college graduates with a financial education background.