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Major Related Resources Department of Finance Resources Business Undergraduate | Description of MajorThe major in finance includes study in three main areas. Corporate finance involves analyzing the profitability of new prospects in which a corporation may invest and decide how to raise money for the corporation (debt, equity, retained earnings, etc.). Investments involves determining what fraction of your money to put into stocks, bonds, etc., in order to obtain the highest amount of return per amount of risk taken. Banking involves analyzing whether various loan applicants are sufficiently credit worthy to assure loan repayment and many other issues in managing a bank or financial intermediary. The Real Estate track within the finance concentration is available for people with special interest in those areas.Skills & Knowledge Developed in this Field of StudyApplied spreadsheet skills for financial modeling, group communication skills, presentation skills, and general analytic ability.Minors and Second Majors that Expand Career Options with this MajorAccounting, business economics, and marketing.Career OptionsCareers Specific to the Bachelor's DegreeFinancial analyst at a corporation, broker at an investment firm, loan officer at a bank.Other Career Possibilities with a Bachelor's DegreeStock broker, insurance agent, and real estate agent.Careers that Normally Require a Graduate DegreeInvestment banking, financial consulting.Employment OpportunitiesJob OutlookThe Department of Finance reports that the job outlook is "good".Salary InformationThe median starting salary is $38,000.Potential Career GrowthUnlimited. Some paths lead to greater responsibilities within the finance area. Other paths lead to general management and eventually the president of the firm.Placement Statistics for IU Graduates with this MajorCommercial banking-21.5 percent, accounting firms-16.7 percent, miscellaneous finance-11.9 percent, financial analyst-8.1 percent, investment banking-3.3 percent, total finance/accounting positions-61.5 percent, the rest are miscellaneous in a variety of areas.High School PreparationIn addition to meeting the regular admission requirements to Indiana University, students interested in this major should have a strong background in writing, speaking, and math. Preferably, students should have completed four or five years of college preparatory math, as our majors generally take calculus in their freshman year. Experience with computers and various business software programs is also helpful.Special OpportunitiesThe IU Kelley School of Business is consistently ranked as one of the top business schools in the country. The School of Business has its own placement office whose staff helps each student develop a career plan and placement program. The nationally recognized Kelley Undergraduate Career Services annually hosts more than 450 major corporations and hundreds of smaller companies. Each year, 18,000 to 23,000 students interview with representatives from companies such as General Mills, Eastman Kodak, the NCR Corporation, Kraft/General Foods, and Eli Lilly. Outstanding students can choose to apply to the School of Business honors program after completing 26 credit hours of course work with a cumulative grade point average or 3.5 (on a 4.0 scale). The program stresses independent study and accelerated progress. Special seminars and supplemental activities complement the honors curriculum. IU Business students may gain valuable experience while working full time for one summer or semester in a corporation or organization that interests them. The internship program, in cooperation with business and industry, gives qualified students on-the-job training in their areas of interest. Internships are generally completed in the junior or senior year. Part of the undergraduate business program is the international dimension requirement. One way of fulfilling this requirement is through overseas study. IU business majors can take part in summer or semester business-oriented programs in the Netherlands, Hong Kong, France, Finland, or Mexico. In addition, internships in Germany are available each semester for students who speak German, and there is an English speaking internship in Slovenia. A dual-degree program is also available through IU and a German institution. The overseas study programs are an ideal way to learn about a country's culture and its business. As an alternate to the basic arts and sciences courses, students may choose a field specialization involving extra study in an area outside of business. The specializations are available in five areas: environmental studies, international studies, communications, not-for-profit organizations, and science and technology. Having a specialization lets the student enhance the School of Business degree with an array of courses from other nationally know IU academic units. The School of Business offers more than two dozen organizations for business students to participate in while attending IU. These give students a chance to develop leadership skills, learn about careers, and serve the community. Some organizations are national honoraries, some are career-oriented clubs, and others are based on special interests and experiences.Noted AlumniThe IU Kelley School of Business has graduates who are current or recent presidents, CEOs, CFOs, and board chairs of a number of major corporations, including Ford, Alcoa, Dow, Lilly, Consolidated Products, Mays Chemicals, and more. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
