Due to the advancement of technology and the increase in globalization, financial markets around the world have become more connected. International trading and investments have increased and businesses find it easier to grow beyond their home countries and participate in global markets. And whether we recognize it or not, global finance affects all of us in some way.
Global finance is defined as the international framework of economies, regulations, and financial institutions and how these things interact with each other. Global finance covers a range of topics such as financial regulations, exchange rates, investments, trading, and other important topics associated with international financial management. All ofwhich arealways in flux.
Benefits and Risks of a Global Financial System
Crises like the 2008global financial crash and the COVID-19pandemic havehighlightedsome of the weaknesses andvulnerabilities inherent to a globalfinancial system. Forinstance, financial access around the world isincrediblyunbalanced. According to Global Financial Magazine and the World Bank,1.7 billionadultsdo not have access to high-quality, affordable financial services andinsurance,while 200million small and medium-sizedcompanies don't haveaccess toformalfinancialservices or adequate funding options. Financial exclusion threatens the quality of life and holds economies back.
On the otherhand,globalfinancialsystems facilitate the transfer of finances across bordersenabling finance productive investments and promoting growth, job creation, and portfolio diversification.While it tookeconomiesover a decade torecover from the 2008 crisis, we seemed tofareslightly better through the COVID-19pandemic. We did see recordlevels ofmarket volatility andgrowingconcern around credit losses, but theglobal financial system also served as a source of strength - with monetary support for businesses and households in most economies. Financial institutions, governments, private companies, investors, and other finance professionals worked quickly and diligently to avoid a repeat of 2008. So far, the recovery from 2020 has been positive but the financial effects of the COVID-19 pandemic - much like the global financial crisis - are expected to be felt for some time.
To manage these complexities and vulnerabilities and realize the opportunities of global finance - in a way that is equitable for all - the world needs global leaders who are knowledgeable and prepared. That's why financialstudy isso important.
What Kinds of Jobs Can You Get With a Global Finance Degree
The demand for jobs in finance is strong. According to the U.S. Bureau of Labor Statistics' projections, there will be a 5% growth rate for business and finance jobs over the next decade - which equates to approximately 476,200 new jobs.A degree in global finance offers a very promising career with high earning potential. Graduates with a master's degree in finance make an average of $71,000-$134,000 depending on the company and a person's title and experience. Some of the most common career titles for people with a finance degree include:
- Financial Analyst
- Financial Associate
- Financial Planner
- Investment Analyst
- Budget Analyst
- Corporate Planner
- Portfolio Manager
- Wealth Manager
- Financial Manager
- Product Manager
- Head of Product
- Head of Planning and Analysis
- Chief Financial Officer
- Chief Executive Officer
Global Finance Professional Development
Many of Thunderbird'sbachelorandmasterdegree programs focus on global financial education, but because global finance is in constant flux, finance leaders and professionals must continue learning throughout their career. OurGlobal Finance Executive Certificate programis designed foraspiring global financial professionals seeking to advance skills in managing financial strategies and activities of global organizations. The program explores private equity, capital markets, corporate investing, and valuations of global enterprises and services. All of the participants gain an ability to navigate the financial complexities of planning and decision-making in transnational enterprises.
