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This question cannot be answered so matter-of-factly for all. I, for one, could not imagine going into business and/or finance. This field is most certainly for those who enjoy math and corporate life.
On the other hand, if one is looking to find the best possible place to ground their business education in, banking and finance is certainly important. All corporations have financial areas. Therefore, study in these areas would be a wonderful place to ground one's self in to market themselves to businesses.
I would add to #2's thoughts that banking and finance is a good path tofollow if you hope to work in a traditional corporate structure at a large business. If you are interested in entrepreneurship, working for smaller businesses, or working in industries where innovation is highly prized, I think that a different path of study might be more appropriate.
In the US, the job outlook in banking and finance is mixed. The banking industry has taken quite a beating in the current recession, and many of the data handling analyst jobs have been sent overseas. You can read more about this at this link.
There is one school of thought that holds that everything in the world works in cycles, and timing is everything - including in commerce. For example, the 'boom and bust' theory says that for every period of prosperity there will be a corresponding period of adjustment while everyone pays for it! Consequently, one's chances of making money in banking may depend on how old you are when entering or leaving college. So, my daughter may be be sheltered from the worst of the storm of the bad times as she may be leaving university just as things start to improve!
Certainly such choices depend on the individual. However, I would want to argue that in today's world, where university education is becoming more and more expensive, it is very important to make sure that whatever you study will equip you in order to pay back the massive loans you will need to take out in order to complete your studies. Therefore, from this perspective, this makes studying banking and finance a wise option.
I am guessing that most people choose this career path in order to become financially successful and secure. Many people may also enter these professions out of a sense of public service. Perhaps some people have both motivations. I do know a mortgage banker who is one of the most helpful, kind, and decent people I've ever met.
When the economy is experiencing a bad time and the inflation rate peaks its height, is banking and finance still a wise option?
There is no doubt that a Business degree offers a good foundation. However, someone once told me...A Business degree in Economics, Finance, or Marketing might not weather an economic storm...the advice was to be more deliberate...more specific...for example, an Accounting degree. The more specialized the degree the more recession proof it might turn out to be. Note that this is just one perspective of advice.
my opinion is banking and finance subjects as major provide a depth understanding of the economy of a country, regio and the world. along with its quite possible to learn the facets of business and management. therefore, banking and finance are major for studies.
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