Discover the Best Finance Classes in NYC
Even though finance is a term most people are familiar with, they may not realize the steps involved in understanding it. All people have a bank account in which they deposit and withdraw money. Governments and large companies store money in large financial accounts. Finance includes all aspects of managing that money.
If you are learning about finance, you must consider various areas. Personal finance is the finances you manage daily, and corporate finance is how businesses manage their finances daily. Lastly, public finance is how governments manage their revenues, expenditures, and debts. In each of these three areas of finance, different areas contribute to it, such as investing, budgeting, lending, saving, forecasting, borrowing, and studying money.
Individuals can benefit from learning finance, whether they want to improve their financial standing or enter the industry professionally. You can find work in every industry worldwide through finance, as every business needs money to run.
Best Finance Classes & Schools in NYC
New York City offers in-person finance classes at various locations and schools throughout the city. Students can attend NYIM Training located in Midtown. If you are interested in investing but don't know where to start, you may want to take the Stock Market Investing Fundamentals course. This course meets for six hours and covers the fundamentals of stocks and bonds. Using real-world examples, students will learn the basics of stock prices, financial statements, bonds, and valuations. It is common for investors such as Warren Buffett and Benjamin Graham to use the principles taught in this course.
A global leader in talent development, the American Management Association was founded in 1923 and supports organizations and individuals with educational products. As a Midtown, New York-based company, AMA offers various corporate skills, including project management, management, and business communication. Students can opt to take the two-session Fundamentals of Finance and Accounting course. This course teaches students how to grasp the numbers side of their job and translate performance into financial terms. They will learn different accounting processes and principles. Students will also know how to read and put together different financial statements.
Noble Desktop, located in Midtown, New York, aims to train designers, coders, and professionals with a high-quality curriculum. This school's classes include a custom workbook written by their top instructors. You can take the Financial Modeling Bootcamp if you are interested in finance and accounting concepts. This course teaches students to build an Excel discounted cash flow (DCF) model. Students will be able to move from being beginner Excel users to being advanced Excel users. Students will also learn finance, accounting, and corporate valuation while building a real company's financial model. While a financial background can be helpful in this course, it is not required; however, students should have intermediate proficiency in Excel for Business. This course does have some prerequisites, like a basic understanding of Excel.
NYC Industries That Use Finance
As one of the world's business capitals, hundreds of industries call New York City home. The industry you want to enter can help determine the school you should want to attend, as you can learn various tasks for that industry before you enter it. From 2021 to 2022, according to the US Bureau of Labor Statistics, more than 10,000 jobs were created in the financial sector. Most industries can benefit from finance skills. Key industries in New York that use finance include:
- Financial Services: Within the financial services industry, banks offer various services such as mortgages, credit cards, payment services, tax preparation and planning, accounting, and investing. New York has over 330,000 workers in the financial services industry.
- Healthcare: When choosing to enter the healthcare industry with a financial background, you are dealing with the financial resources that cover the collective health needs of each individual and ensure the health system continues to run efficiently.
- Business: Business finance is essential for procuring goods, raw materials, and other economic activities. More specifically, it is essential for running a business.
- Retail: The retail industry deals with money from top to bottom. Jumping into this industry can include anything from pricing items to maintaining a company's finances. With over 77,000 retail businesses in New York, more than 940,000 people have jobs in this industry.
- Manufacturing: The manufacturing industry involves purchasing inventory and equipment, which can tie up a lot of capital in a company. You can either deal with the finance aspect, which deals with managing these high-cost assets or go into financing, which deals with the financial strategy to acquire assets.
Finance Jobs & Salaries in NYC
After seeing how many different industries you can enter with an education in finance, you may wonder what careers are available. Salaries can depend on the industries you enter, as demand will differ. In any industry, you can find positions like:
- Accountants ensure all documents are clear and accurate. Accountants must have strong mathematical skills and communicate their conclusions to various audiences. In New York, Accountants make around $70,000 annually.
- Financial Analysts will analyze financial data and make recommendations based on that data. In New York, the average salary for this position is $80,000.
- Financial Advisors work with clients to assess and guide them toward their financial goals. They will help their clients establish healthy and obtainable financial plans. On average, in New York, this position makes $100,000.
- Personal Bankers work in banks and assist customers with opening accounts and obtaining loans. In New York, Personal Bankers make around $65,000.
- Economists study the relationship between a society's production of goods, services, and resources on a local, national, or global scale. In New York, they make around $125,000 annually.
- Risk Analysts assist companies wanting to expand or invest in new markets. On average, they make around $95,000 annually in New York.
- Chief Financial Officers are the highest financial position one can obtain. They are in charge of an organization's financial actions and oversee all lower-level financial managers. In New York, they can make between $175,000 and $300,000 annually, depending on the company's size.