Department of Economics, Finance and Global Business

Jumpstart your career in economics, finance, and global business

The Department of Economics, Finance, and Global Business, in our AACSB-accredited Cotsakos College of Business, prepares students to succeed in a wide range of careers in business or government, including banking and financial institutions, as well as to compete in diversified global markets and internationally oriented enterprises. Here are some key regional statistics for careers in these fields from the National Association of Colleges and Employers (NACE), PayScale, Salary.com, and the Bureau of Labor Statistics.

Starting Salary
$49,179-$65,843

Average Starting Salaries in Economics, Finance, and Global Business (NACE)

Noteworthy Economics, Finance, and Global Business Jobs and Mid-Career Salaries in New Jersey (Salary.com, Bureau of Labor Statistics)

Portfolio Manager $106,000 Financial Manager $214,670 Financial & Investment
Analyst $111,304 Business Data Analysis
Director $183,800 Senior Business Analyst $92,800 Budget Analyst $78,970 Insurance Underwriter $71,790
Six months out of graduation
90%

Alumni in business employed or in graduate school within 6 months after graduation

Get Prepared to Succeed

Students in economics, finance, and global business study in small classes, taught by faculty with significant industry experience who are recognized experts in their fields. They also gain real-world experience through internships, mentoring, and other professional enrichment activities. Business students also benefit from the sophisticated resources in the Cotsakos College of Business, including the Financial Learning Center, an active trading room that brings the world financial markets to campus. For students looking to enter careers in investment advice or wealth management our financial planning degree program allows graduates to sit for the CFP® exam. Our students benefit from William Paterson University’s strong ties to professional organizations like the Financial Planning Association and numerous employers including brokerage firms and registered investment advisory firms.

Career Highlights

 Explosive job growth driven by macroeconomic and demographic trends; BLS estimates 64k new positions per year more than 2x the national average.

  • Highly competitive compensation packages; “experienced financial advisors can earn on average $192k”[i]
  • Transferrable knowledge and skills across a range of applications and careers.
  • Build relationships directly impacting client’s lives, helping them navigate life’s stages and reaching their personal and financial goals
  • Gain exposure to the dynamics of financial markets as well as a broad array of investment products in domestic and international markets

WPU Student Highlights:

  • FPA board registered program; graduates of the B.S. or M.S. are immediately eligible to sit for the CFP Exam, the industry standard in wealth management
  • Housed in an AACSB accredited business program; winners of past national and regional competitions including the Financial Planning National Challenge, FAStech Cup and others.
  • Strong support from distinguished alumni who have gone on to advance the field serving as FPA Chapter Presidents, faculty at distinguished universities and in fiduciary roles ranging from small RIAs to the largest wirehouses
  • Opportunities to represent WPU at national and local industry conferences
  • Access to additional certifications freely available through CCOB (i.e.,Excel, Word, PowerPoint, Access, Alterxy, Bloomberg Market Concepts and Bloomberg ESG, LSEG Eikon, HubSpot,..)

[i] Why Get Certified | CFP Board

What You'll Learn

In economics, finance, and global business, students learn in-demand skills that employers have identified as critical for job candidates, including:

  • Understanding the main tools of policies for markets and government.
  • Using data and statistical tools to carry out economics and financial projects.
  • Understanding the main instruments, rules, and strategies of the finance and financial planning.
  • Ability to assess the impact of the global environment (economic, financial, political, regulatory, technological, social, and cultural) on institutions, businesses, economies, and societies.

View a full listing of student learning outcomes for for students in economics, finance, and global business.

Information on affordability and value from the U.S. Department of Education:

View our College Scorecard

Key Skills for Careers in Economics, Finance, and Global Business

as indicated by Employer
and Alumni on LinkedIn

Budgeting

Data Analysis

Digital Fluency

Financial Forecasting

Financial Reporting

Sales

Strategic Planning

*LinkedIn Workplace
Learning Report 2021

We are currently in the midst of the largest wealth transfer in human history as baby boomers are scheduled to pass down $68 trillion of assets through 2030[i]. Much of that wealth is held locally with the largest contingent of millionaires (340k) and billionaires (136) residing in New York City.[ii]

Finance professionals with the expertise to implement strategies to maintain and grow wealth, minimize risk and structure retirement and estate plans will be in high demand.

The Bachelor’s of Science in Financial Planning or a Master of Science (M.S.) in Finance and Financial Services with a concentration in Financial Planning degree equips students with the knowledge, insights and skills to provide their clients with services such as:

  • Investment management services and insights into the risk and return characteristics of stocks, fixed income securities, options and other derivatives, as well as understanding pricing processes, valuation models, and international capital markets.
  • Retirement planning including the consideration of regulatory requirements, household retirement needs analysis and choosing the investment vehicles and distribution schedules to meet the client's needs.
  • Tax services with a focus on making sound decisions regarding the implications of federal taxes for high-net-worth individuals and ways to mitigate its impact on client wealth.
  • Risk management expertise including strategies for identifying, quantifying, managing and hedging complex challenges to wealth conservation and growth.
  • Estate planning with an emphasis on conserving and transferring wealth consistent with client goals and compliance with legal and tax requirements through trusts and wills. Estate planning can also include advanced medical directives and charitable giving.

[i]  https://www.forbes.com/sites/forbesfinancecouncil/2021/03/19/how-to-plan-for-a-wealth-transfer/?sh=26529232bb04

[ii] https://www.henleyglobal.com/publications/wealthiest-cities

 

Protect Your Family’s Finances

Studying personal finance can help you make better financial decisions for yourself throughout your lifetime.  These decisions can help you save money, make money or protect the wealth of you and your loved ones.  The curriculum in the wealth management and financial planning major also includes a solid foundation in personal risk management, the financial risks faced by most households. 

 Financial Planning for Entrepreneurs

If you run or manage a business studying personal finance can help you make better decisions for your company.  From setting up a buy-sell agreement that incorporates the use of life insurance to choosing the retirement plan that helps attract and retain the best employees, there are many areas within personal finance that can help someone run their company more efficiently.  In addition, the curriculum touches on commercial insurance and the risks face by business entities.

 Human Resources Professionals

Human resource professionals need to learn and explain employee benefits like health insurance, qualified retirement plans, disability insurance, and other related products.  Learning about these employee benefits is part of a curriculum in wealth management and personal finance. 

 Attorneys-at-law

For those looking for a legal career, wealth management and financial planning can be a great undergraduate degree providing a foundation for those looking to specialize in litigating cases involving financial advisors.  In addition, for anyone interested in specializing in estate planning or elder care it provides the perfect knowledge base to be able to advise clients on these issues.

 Insurance Professionals

For those interested in a career in insurance operations, underwriting or actuarial work Financial Planning / Wealth Management gives you a solid understanding of all the personal lines of insurance.  This includes life insurance, disability insurance, automotive insurance, health insurance, long term care insurance, and personal liability insurance. 

  • Critical and Analytical Thinking: Wealth managers must be able to decipher trends in the market while protecting their client’s assets from short-term fads.
  • Comfortability with Technology: Continuous advances in technology allow wealth managers to offload repetitive tasks while focusing on client interaction and developing tailored solutions to client needs.
  • Communication and presentation skills: Wealth managers work with their client’s on an ongoing basis helping them set realistic goals. This requires strong interpersonal and active listening skills.

Graduates with a specialized B.S. or M.S. Financial Planning, such as the programs offered on-campus and online, respectively, by William Paterson University (WP), are equipped with financial services insights and expertise that are a competitive advantage for careers in wealth management. As a registered partner of the Financial Planning Association, students who graduate from the B.S. or M.S. Financial Planning are immediately eligible to sit for the CPF exam.

 The WP online curriculum is offered through the Cotsakos College of Business and accredited by The Association to Advance Collegiate Schools of Business (AACSB International), which aligns with professional standards and positions graduates for success on the Certified Financial Planner (CFP) exam. Courses include:

  • International Financial Management
  • Investment Analysis and Planning
  • Taxation
  • Personal Financial Planning
  • Retirement Planning
  • Estate Planning
  • Insurance Analysis / Planning
  • Financial Planning Capstone

 William Paterson graduates have gone on to careers at prestigious firms such as Vanguard, Charles Schwab, TD Ameritrade, Wells Fardo, UBS, Merrill Lynch, JP Morgan Chase, Morgan Stanley and others.