If you are deciding between majoring in finance or chemistry, you might want to know more about what each major has to offer. This post will show you the key facts about each major and help you to decide which would be a better degree for you.
At a glance:
| | Chemistry | Finance |
| Payscale reported average pay | $74,737 | $71,173 |
| Job prospects | Average | Average/Good |
| Types of jobs you can qualify for | Lab assistant Entry-level chemist Quality control chemist Technician Teacher Process engineer | Financial analyst Data analyst Investment analyst Financial advisor Credit analyst |
| Difficulty of the major | Hard | Moderate |
| Key things to note | It can be difficult to find a job with just a bachelor’s degree in chemistry. A master’s degree or PhD is often required. The major can become more employable if combined with a more applied minor. Also more employable if you do research work in a lab and do internships. It is a major that can give good job meaning once you can find a job. | Most finance jobs require long working hours and can be high-stress. Can qualify for a lot of jobs with just a bachelor’s degree. High potential pay at the senior levels. |
Source for finance salary and jobs
There are many things to consider when deciding between the two degrees. Also, there are other things to consider if you do decide to major in either of them such as what classes you should take.
Details about the chemistry major
Below are some details about the chemistry major.
Pay
According to Payscale, the average pay of a person, who has a degree in chemistry, is $74,737. This is higher than the average across all majors. However, it is important to note that this average will be being increased by people who also have a PhD in chemistry.
Jobs
The chemistry major can qualify you for a number of different types of jobs in a number of fields. However, the major can restrict you to certain types of jobs. This is unlike alternative majors, such as computer science where it is feasible to enter related disciplines such as data science.
Also, the jobs that you can qualify for with just a bachelor’s degree in chemistry can have low pay, can be competitive and will only be entry-level roles within chemistry or technician roles in related areas such as in medicine/drugs.
However, chemistry jobs are expected to grow by 5% by 2029 which is more than average. Also, the jobs tend to have high levels of meaning because they are usually beneficial jobs to society.
According to Payscale, jobs people with a chemistry degree get can include:
- Lab assistant
- Entry-level chemist
- Quality control chemist
- Technician
- Teacher
- Process engineer
It’s important to note that lab assistant roles usually require a year of experience having worked in a lab. This means that it will be important to complete lab work while in the major and to get internships.
Difficulty
Chemistry involves a lot of math and physics. As a chemistry major, you will be taking one year of physics classes and math classes including calculus 1,2, and 3. Also, the chemistry classes themselves can be difficult, especially physical chemistry. As a result, you can expect chemistry to be a difficult major. When compared with a finance major, you can expect chemistry to be more difficult.
Classes
Classes that you can expect to take in a chemistry major can include:
- 1 year of physics
- Calculus 1,2, and 3
- General chemistry
- Organic chemistry
- Physical chemistry
- Senior-level lab courses
Things to consider
Organic chemistry is a major that can be difficult to find jobs with by itself unless you are careful about what you do within the major. If your goal is to get lab work, it would help a lot to do research projects as an undergrad and to try to get lab internships so that you can qualify for entry-level lab roles.
Due to the amount of math involved, the major could be a pathway towards data analytics or even software engineering roles, if you learn how to program while in the major. On Payscale, people do report having gotten software engineering, data science and data analytics jobs with a chemistry degree. As a result, it could be worthwhile for you to get a computer science minor as well if you are set on a chemistry major.
If you want to do chemistry research in industry or academia, you should expect to have to get a PhD.
Details about a finance major
Below are some details about the finance major.
Average pay
According to payscale, the average pay of someone with a finance degree is $71,737 and the hourly rate is $20.64 dollars.
When compared with most degrees, a finance degree usually comes out on top in terms of pay. A finance degree also has a high ceiling in terms of potential pay for senior-level positions.
Types of jobs you can qualify for
A finance degree can qualify you for a number of different types of jobs that are available to people with just a bachelor’s degree. This is not something that can be said for many other degrees where a master’s degree is often required to be competitive in the job market.
With that being said, some jobs, such as investment banking, will be very hard to get into if you do not have a degree from an ivy league university or an ivy league equivalent university.
Jobs that you can qualify for with a finance degree can include:
- Financial analyst
- Data analyst
- Investment analyst
- Financial advisor
- Credit analyst
- Budget analyst
Something to consider about the jobs you will qualify for is that they are often reported as being stressful jobs. This is likely to be due to high working hours, high levels of competition, some of them being commission-based and the fact that you will be dealing with other people’s money.
With that being said, the major does have a below-average unemployment rate, so you should not have too much difficulty finding a job, there is good pay and finance jobs are expected to grow by more than the average across all jobs.
Difficulty of the major
A finance undergraduate degree can have some moderately difficult classes. However, there will not be many math-heavy classes. With that being the case, a degree in finance will usually be less difficult than a chemistry degree which will involve more math-heavy classes.
Classes
Classes you can expect to take in the major can include:
- Micro and macro economics
- Personal finance concepts
- Project management
- Accounting
- Fundamentals of marketing
- Principles of business
- Corporate finance
- Managerial accounting
- Other upper-level finance courses as available
Things to consider
If you choose to get a degree in finance, it would help a lot to consider what types of finance jobs you are most interested in so that you can optimize your classes accordingly.
Many people that are able to get a high paying job immediately after graduating with a finance degree, usually will have completed internships during the summer breaks. So, it would help a lot to try to get one or two internships completed while you are in the major during the summers.
It could also help to get a minor in a field that is related to the types of jobs that you are interested in. Often, finance majors find themselves in roles that involve a lot of accounting, so getting a minor in accounting could be very useful.
Reasons to choose a finance major
A finance degree can give good job prospects and there is a large number of jobs available in finance. When compared with a chemistry degree, you can expect to have better job prospects with a finance degree at the bachelor’s degree level.
If you enjoy competitive environments, a finance degree could suit you well. Also, finance does have very high potential pay in the long run since senior-level positions can pay very well. However, finance jobs can require long working hours and can be highly stressful.
Reasons to choose chemistry
While it can be difficult to find jobs with a bachelor’s degree in chemistry, there are still some reasons why you might want to get a chemistry degree.
The first reason is if you want to get a job that requires a master’s or doctoral degree in chemistry. If you do, then a bachelor’s degree in chemistry would be more worthwhile.
Also, if you have a very strong interest in the subject, it would also make it more worthwhile for you to major in chemistry. However, it would also help to minor in something that is employable at the bachelor’s degree level. It would also help a lot to make sure to complete lab projects and to get lab internships to help when seeking lab work after graduating.
