The Growing Interest in Finance Degrees Among College Students

In recent years, a finance degree has become increasingly attractive to students seeking solid career prospects and job security. A survey conducted by the CFA Institute reveals that many U.S. graduates believe finance offers superior career opportunities in today’s economic environment. This research focused on more than 9,000 current college students and recent graduates aged 18 to 25.

Shift in Student Confidence in Financial Career Paths

Over the past year, confidence in securing a successful career in finance has risen. However, other fields, particularly STEM (Science, Technology, Engineering, and Mathematics) and healthcare, have seen a decline in optimism among students. While finance remains a popular option, data indicates it lags behind several other majors regarding immediate job opportunities post-graduation.

"To me, a career in finance signals a shift towards stability," shares Rafael Perez, a 29-year-old pursuing a Master of Science in Finance at California State University, Sacramento. He expresses that his journey from a creative background to an affinity for finance was a refreshing change. Despite some teasing from peers, who refer to him as a "finance bro," he acknowledges that the term carries with it expectations of financial achievement and respect.

Students and their families are increasingly cautious about their choice of major, placing greater emphasis on the return on investment a degree offers, according to Peter Watkins, a senior director at the CFA Institute. “Students are now more aware that they need to ensure their degrees will make them employable,” he notes.

Young Graduates Confront a Tightening Job Market

As new graduates enter the workforce, they are greeted with a challenging job market. An analysis by the Federal Reserve Bank of New York highlights a marked decline in job opportunities during the first quarter of 2025, with unemployment among recent graduates rising to 5.8%—the highest since 2021.

While finance majors still command higher starting salaries than many other fields, graduates in areas like nutrition, art history, and philosophy have outpaced finance in terms of employment prospects. The unemployment rate for finance graduates rests at 3.7%, while computer science majors face a 6.1% rate. Surprisingly, art history boasts a mere 3% unemployment rate, and nutritional sciences come in even lower at just 0.4%.

After experiencing significant growth since 2020, the computer science sector appears to be stagnating, largely due to anxieties regarding AI taking over roles in the industry. Additionally, economics graduates have found it difficult to compete with humanities majors, including philosophy, which maintains an unemployment rate of 3.2%, compared to economics at 4.9%.

This report from the New York Fed is based on data compiled from the 2023 Census and recent unemployment statistics.

A Rising Demand for Humanities Degrees

Interestingly, demand for graduates with humanities degrees is on the rise, reflecting a shift in hiring practices among major employers. At a recent conference, Robert Goldstein, COO of BlackRock—the world’s largest asset management firm—stated that the company is evolving its hiring strategies to include more liberal arts graduates. “We increasingly believe that we need individuals who studied history, English, and other fields unrelated to finance or technology,” Goldstein explained.

The demand for these degrees is partially driven by advancements in artificial intelligence, which highlight the necessity for creative problem-solving and soft skills. “This is like a gold rush in AI—those who adapt swiftly will reap significant rewards,” Watkins observes.

In summary, while traditional finance degrees attract students seeking job security, evolving market demands and the increasing visibility of alternative career paths indicate a pivot in workforce requirements. The blend of technical knowledge and creative problem-solving is emerging as a valuable asset, making humanities graduates more desirable in today’s job landscape.