Best Finance Classes in Chicago
Finance involves managing money, assets, and liabilities to achieve specific financial goals. It plays a vital role in personal and business contexts and is a large part of decision-making for financial matters. Different aspects of finance include financial management, investment, financial markets, risk management, banking, corporate finance, personal finance, public finance, and financial analysis.
Finance constantly evolves to changes in the economic landscape and plays a vital role in economic systems. Those who learn finance gain a wide range of skills. Finance classes can help individuals effectively manage their finances, open doors to new careers, and make educated decisions about growth and expansion.
Best Finance Classes & Schools in Chicago
Coursehorse offers various finance classes for individuals in Chicago, both online and in person. NYC Career Centers offers Financial Modeling Bootcamp. The course is live online and focuses on building financial models and learning corporate finance and accounting principles.
Individuals build a comprehensive Discounted Cash Flow model and dive into advanced Excel functions. The course covers functions for finance like VLOOKUP, AND/IF statements and covers common topics asked in investment banking and financial analyst reviews. Those without corporate finance or accounting knowledge should request access to the course's free prep materials. Excel proficiency is also required.
Discovery Center at Irving Park offers Intro to Bookkeeping. The course is located in Irving Park, Northwest Side, at 4318 N Elston Ave 2nd Fl between N Pulaski Rd and N Harding Ave in Chicago. The class is perfect for small business owners or those wanting to become familiar with simple bookkeeping systems.
The course also covers journals, ledgers, and business statements, allowing individuals to overcome the fear of facing their finances and record keeping. Individuals exit the course with an understanding of how to set up their books, receipts, and disbursements.
Discovery Center also offers How to Start Your Own Business. The course is open to individuals of all levels, ages 16 and older, and explores the steps needed to start a business. Individuals learn about a business's financial, legal, and technical considerations and get new ideas about starting a business from a professional.
Critical concepts taught include:
- The basics of a good business plan.
- Understanding financial statements.
- Organization and legal structure of business.
Other concepts include capital requirements, finances, and loans, insurance and legal needs, record and bookkeeping essentials, small business administration, and available assistance from the state.
Chicago Industries That Use Finance
Chicago is the third largest city in the U.S., with a nearly three million population. Various industries in Chicago use finance and rely on financial services. This includes Banking and Financial Services, Insurance, Real Estate, Trading and Exchanges, Private Equity and Venture Capital, Manufacturing and Industrial, and Technology and Startups.
Chicago's banking and financial industry is essential to the city's economy. There are several career opportunities in banking, finance, and asset management. Chicago hosts many asset management firms and is a global center for trading exchanges. Top Financial Services Companies in Chicago include Discover, Citadel, Rewards Network, and YCharts.
The insurance industry includes the presence of brokers, regulators, and related services. There are several major insurance companies with a significant presence in Chicago. Allstate Corporation is one of the largest personal lines insurers in the United States and is headquartered in Chicago.
One industry that has seen significant growth in recent years is the technology and startup industry. Numerous startups across various industries like Fintech, healthcare, and logistics exist. The city provides a supportive environment for early-stage companies. Some of the top tech companies in Chicago include Discover, Locusview, Built-In, and Rewards Network.
Finance Jobs & Salaries in Chicago
There is a wide range of finance-related jobs across various sectors in Chicago. These sectors include banking, investment, and insurance, with jobs such as a Financial Analyst, Asset Manager, Investment Banker, Risk Manager, and Insurance Underwriter. Salaries for these positions range from $55,000 to $180,000+.
Financial Analysts' salaries vary depending on experience, education, industry, and their specific company. They can make between $55,000 and $150,000 per year, with the average base salary at $84,910. They help businesses and organizations make informed financial decisions, analyze financial data, assess investment opportunities, and provide insights to support strategic planning.
Asset Managers in Chicago make between $96,000 and $180,000 annually. There are different types of Asset managers, including those who work for mutual fund companies, investment advisers, hedge funds, private equity firms, and real estate investment firms. They offer various services such as portfolio management, investment research, risk management, and client communication.
Those interested in playing a crucial role in facilitating corporate finance transactions, mergers and acquisitions, capital rising, and other financial advisory services can look into becoming Investment Bankers. Chicago is an attractive location for Investment Bankers because of its diverse economy and strong corporate presence. Entry-level Investment Bankers make between $80,000 and $110,000 annually and typically receive end-of-year bonuses ranging from 50% to 100% of their base salaries.