IS FINANCE FINANCIALLY WORTH IT?

Is Finance Financially Worth It?

Joshua Martinez
The University at Texas at El Paso

IS FINANCE FINANCIALLY WORTH IT?

Some jobs, like real estate, do not need a specific degree, so why do we have to spend
endless amounts of money and time? Finance is the study of the allocation of resources
like liabilities and assets with the use of some economics. Within the College of Business
Administration at The University of Texas at El Paso, finance is taught. With no specific
program for real estate, students can study related topics like finance, accounting,
entrepreneurship, and business management. The college of business has an enrollment
rate of 2610 students according to the college's website. (College of Business
Administration, El Paso Texas, Fall of 2012) the study of finance can help students make
better business and personal decisions involving money.
Although the discourse community I am studying to gain acceptance to doesn't require
inquiry into the discipline of my choice, I have chosen to inquire into this discipline so
that I may have an advantage over my peers in my discourse community. As a student
inquiring into finance I worry if I have chosen the correct discipline to ease my greater
exigence in life, not just within my discipline. I know I have chosen the correct field of
study for the discourse community I am trying to gain acceptance in, but I am not sure it
is the only discourse community I want to be a part of. The methods of research I decided
to use helped me get a look into finance through directly observing financial institutions
and a classroom used to instruct classes related to finance. Other methodologies used
included surveys, document analysis, interviews, and other personal communication with
individuals involved in finance. My primary research question at the beginning of this
study was "Is taking the time and money in getting a finance degree truly beneficial

IS FINANCE FINANCIALLY WORTH IT?

toward the entrance into my discourse community?"

This inquiry helped me familiarize myself with the finance community and observe to see
how individuals with and without college education feel about the time and effort that
goes into attending college and whether they feel that the skills obtained while in college
offset the time and money that is required.
In a survey conducted in October 2014, almost all survey recipients responded saying
that they felt that the amount of money being paid for their tuition was indeed worth the
education they were receiving. Within the survey, I also asked grad and undergraduate
students if they had wished they had know anything prior to them choosing the discipline
they chose. A few students said that they wished the business college had designated
study groups to help students progress easier through more intensive classes. These
responses gave me the impression the college of business and many other specific
colleges have a very impersonal approach on the students and their academic goals. The
college of business has many presentations with speakers and interview events, but no
personal study groups. Instead of focusing so much on bringing employers to the college,
maybe the department could focus on having the students actually get to the point to
where they would need internship opportunities. I personally plan to join a club within
the college of business and I would love to bring up that issue with the department.
Lastly, another trend I found within the survey was many students felt that a career
college would be a better fit for someone pursuing a career within real estate. Although
the surveyed students agreed that the amount of money and time invested in college is
worth it, many students did not feel the same way when a specific career like real estate
was introduced. I had time to ask a few of the survey recipients why they felt this way,

IS FINANCE FINANCIALLY WORTH IT?

and they said that since a degree was not required within real estate that time should not
be wasted achieving one. The point the students made was valid and important in the
study I conducted, but I feel that the students forgot about the intellectual value a degree
carries. Although a degree is not required, it could help in many ways a lot of people tend
to over look. Simple tasks like communication with customers, having knowledge of
financial vocabulary, and the ability to handle stressful situations are things that are
taught in college but many college students don't acknowledge that they are obtaining
these skills because many times they are taught indirectly. The survey methodology was a
great way of obtaining information on what many students had to say about their college
and how they felt about real estate.
During my analysis of three different documents related to the college of business,
finance, and real estate I discovered many details and rhetoric value. The first document I
decided to analyze was a fall degree plan from the University of Texas at El Paso for
finance. This document had a lot of rhetoric value, in the sense that the classes
recommended to a business major are very specific and had a lot of meaning to them. A
theater class was recommended as an elective. I took the recommended theater class last
year and although the class is obviously focused on theater majors, the class also included
things extremely useful in business. During the semester I took the class, the professor
had us read articles related to business and theaters role within business. Things like
acting, line memorization, and directing turned out to be extremely useful in a business
setting. The class is also recommend because it is a very low maintenance class that is not
intensive so, in recommending the class, the college of business is implying they want
their students to focus strictly on business. Another observation I made in the degree plan

IS FINANCE FINANCIALLY WORTH IT?

was that the college recommended students to take a geology class for their required
science. After speaking with an advisor and another professor I found out that the
introduction to geology class is one of the easiest science classes a student can take at
UTEP. I feel that this recommendation relates back to the theater class's low maintenance
aspect. The college is trying to bypass classes unrelated to finance in order to have their
students strictly focus on their major. This may seem like a great idea, but I did not think
so. I feel that this recommendation robs students of possible knowledge they could be
curious about. When I asked an advisor if I could take an astronomy class they strongly
advised against it. When I asked why they said that the class would be too difficult.
Recommendations like these should never be given to students inquiring about another
topic other than finance. These kinds of things uniform the students within the college of
business into all having the exact same knowledge. This in a way can limit the students in
their academic pursuit of knowledge. The last observation I made within the finance
degree plan was the excessive amount of managerial business classes that were required.
Although managerial skills are important to have, this seemed strange to me that they
would not let the students decide what kind of finance classes to take based on their
career goals. There are a lot of students within the college of business that have no desire
to have any kind of managerial positions. Those students are, in turn, forced to learn
things they will not particularly use. I feel that the degree plan should be a loose skeleton
of what students should take and the rest should be left for the individual student to
decide. This would be beneficial for students who maybe are not planning on taking a
common route within business.

IS FINANCE FINANCIALLY WORTH IT?

The second document I analyzed was a 2014 fall accounting syllabus from the
University of Texas at El Paso. I feel that this document represented the outdated
traditions of business academia. Within the syllabus, I found many rules and restrictions.
Nothing was left for interpretation. The syllabus had many key words like "can't", "can
not", and "must". Many of these words even bolded to add emphasis. The strict
authoritative language used, showed that the individuals who created the syllabus felt that
there was absolutely no room for creativity or improvement. Although business is a
concrete kind of study, I feel that many things could have been improved or the students
could have been more directly involved in their own studies, opposed to forcing everyone
to do the exact same thing. Unlike a syllabus from a class within the liberal arts where
things are done and planned very loosely and open for the individual student's
interpretation, the accounting syllabus seemed to be the exact lunar opposite.
The last document that was analyzed was a Texas 2014 closing contract form for a farm
property taken from the Texas Real Estate Commission website. This document used
rhetoric space to its advantage. The document was an informative document ensuring
both parties involved within the sale of the property were aware of the specific details of
the sale. This document was organized and designed very carefully as in deciding what to
say first, and where to place certain bits of information. The more important details were
in the first few pages in order to make sure the readers of the document could receive and
understand the most important info first. Smaller details and regulations were left at the
end of the document. Also documents requiring a signature were placed first to show
their importance opposed to the documents at the end that just contained regulations and
details. The vocabulary used within the contract was specific and would be difficult for

IS FINANCE FINANCIALLY WORTH IT?

an individual unfamiliar with the terminology to understand. This is why most of the time
a certified real estate agent is required to be present upon the signing of the documents.
The importance of knowing these terms and language used within real estate is crucial in
order to make sure transaction occur legally and in favor of both parties involved.
Another thing within the contract was that key words were bolded in order to emphasize
that attention was important in those specific areas. This was carefully done in the
creation of this document, rhetorically. Typically when individuals read long documents
that are important and are made to ensure you know all the details of a particular action
you are about to take, they tend to just skip over everything and sign or agree. The bold
print is inserted in order to almost force you to look at what the document is trying to say.
There was plenty of rhetoric value within the documents I analyzed. The document
analysis was a useful method of collecting information.
Within my inquiry into the value of a finance degree within real estate, I conducted an
interview with a graduating, undergraduate student within business. (Andres Prieto,
personal communication, November 2014). During my interview with Andres Prieto in
November of 2014, I spoke with him regarding his experience in college and his opinions
of what is the best degree choice in order to offset the cost of college. Andres explained
how college education is very important in today's workforce but how it is also necessary
in today's social society. He explained to me that when he graduated high school he was
unsure about attending college but was pressured by his parents and other family
members to attend. He said he chose his degree almost at random in order to appease his
family. This showed me that college education is no longer just beneficial in a job but
socially it is almost a requirement. Hearing about someone not attending or dropping out

IS FINANCE FINANCIALLY WORTH IT?

of college is almost as shocking as hearing someone did not complete high school. A
university education is so common today that it is seen as a requirement amongst
everyone. Andres continued to explain that when he first attended UTEP he was regretful
that he did not follow some of his high school friend's footsteps in attending an Ivy
League school. Although at the end of his time in college his perspective had changed on
this topic. He explained to me that he was over ten thousand dollars in debt because of
the loans he had acquired in order to attend college. Andres felt that he was lucky to be in
the supposed small amount of debt he was in. He explained that his friends that went to
Ivy League schools were in the hundreds of thousands of dollars in debt and Andres has
already secured a job prior to him graduating. This made him feel that he had the same
opportunity at UTEP that he would have had at a much more expensive school. During
the discussion I discovered that many different careers may be impressed by the
credentials you have based on what type of college you attended, but in the field of
business the credentials you have and their credibility may change from a specific job to
another. Within business many times the most successful individuals today did not finish
school. This implies that the discourse community of business is so diverse that without
knowing exactly what you want to do may affect you requiring a business degree or not.
Opposed to a career like teaching where a specific level of education is required in order
to gain entrance into that specific discourse community. The last thing Andres and me
spoke about was the elite status that comes with an accounting degree. When I asked
Andres what degree he recommended I get to be successful within real estate he
immediately recommended an accounting degree. He made this recommendation because
within the college of business an accounting degree is the most difficult degree to obtain

IS FINANCE FINANCIALLY WORTH IT?

due to the highly intensive curriculum involved. He explained that with a degree in
accounting or a certified public accountant (CPA) certification you have much more
opportunity even if you do not plan to become an accountant. He explained that many
businesses recognize the elite status that comes with an accounting degree and it can help
lead to more opportunity. The interview I had with Andres was an important view
through the eyes of another business student on his way into the business community.
For the last methodology I used I decided to do three site observations of different
locations directly related to finance or real estate. In my first site observation of a
business classroom at the College of Business Administration at the University of Texas
at El Paso. Within the business classroom I saw that the walls and basically everything
else in the room was a neutral color. Rhetorically this was done to make sure all the
attention is focused on the instructor. I feel that the building might have been outdated
compared to the undergraduate learning center here at UTEP, where more detail and
creativity within the building. Another detail I noticed within the classroom was that the
walls in every classroom were blank. This is done as not to bias the environment of study.
The last thing I discovered in the classroom was the amount of chalkboards. The business
building was different than other buildings because of this. The excessive amount of
chalkboards are present due to the large amount of information that needs to be recorded
in an exact form. Unlike the liberal arts, where an individual can modify the information
learned into their own ways they choose to remember it, business is a very different
study. With things like law, concrete methods and formulas to follow the need for chalk
boards remains.

IS FINANCE FINANCIALLY WORTH IT?

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My second site observation was the Pioneer Bank in El Paso, Texas. This financial
institution had plenty of rhetoric value. The first thing I noticed when I walked in was the
attitude that the bank employees had with everyone walking in. The employees were very
welcoming and polite. After I sat down for a minute, a bank member walked in and they
referred to the client by name. The time taken to remember each client showed the effort
of the institution to make the space welcoming. Although, there was a large separation
between the customer and the employee in certain areas where cash is commonly
handled. There was a very large glass in between the bank tellers and clients. This
separation of the public and the bank employees is necessary in a space like a bank where
very large amounts of money or valuable items are held. Another interesting aspect of the
bank was the lack of privacy or transparency of the environment that the customers were
in. The area open to the public was almost entirely made of glass. The bank had giant
windows in every area. There was also a lot of camera and audio recording. The power of
the glass walls, cameras, microphones, and pass code locked doors is very important,
because it implies that upon entrance of this space you are being carefully watched.
The last place I visited for observation was the Rocky Mountain Mortgage Company in
El Paso Texas. This area was the most difficult to observe due to the high level of
security enforced in the area. The building had many cameras outside. When I entered the
building to observe the payment area I ran into a glass door separating the main door and
the actual payment area. On the completely transparent door there were quite a few signs
notifying you that you were under a variety of surveillance. After walking into the
payment office I approached a glass barrier separating the employee and me. I asked him
if I could draw the area and he said I needed to ask his supervisor. After speaking with a

IS FINANCE FINANCIALLY WORTH IT?

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few different managerial levels of employees I was finally able to speak to the branch
manager. He then went on to explain his security policies and after a bit of discussion
allowed me to draw the area I intended to draw. The payment area of the mortgage
company was very simple and minimal. There were no chairs, no welcoming employees,
or anything else of that nature. The focus on the area was to get the client in and out as
fast as possible. The payment area also had even more signs notifying you that you were
being recorded. The payment desk also had signs saying how you were not permitted to
record or photograph any part of the payment area. This site observation was a difficult
one to complete but came with a great amount of rhetorical value. The excessive signs
and security features were extremely difficult to over look and instilled a feeling of being
watched. Although the area was not very welcoming it had a lot of power in regards
toward security. The mortgage company had no interest in making the clients feel
welcomed like the bank did.
My research into finance and my original questions allowed me to hear different
opinions and different paths that a college degree within finance can take me in real
estate. Despite the research I did I was, in the end, left with further questions. My primary
research question might have been to vague to arrive at a sold closing answer, but the
studies done led into further questions requiring further research. My original question
may never have a concrete answer because the financial skills learned within college can
be learned in the field through trial and error. Depending on the individual's personal
beliefs, the intellectual value of college can either be perceived as a waste of time or a
priceless asset dependent of the knowledge, taken and used, that is learned in ones time
attending a university.

IS FINANCE FINANCIALLY WORTH IT?

One can look upon these discoveries and decide whether they feel that a college
education would be beneficial based off of how much they are willing to invest of
themselves into college during their time attending.

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IS FINANCE FINANCIALLY WORTH IT?

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References
(Andres Prieto, personal communication, November 2014).

(College of Business Administration (2014). Finance degree plan, Fall semester of 2014.)

(College of Business Administration, Business.utep.edu, website, enrollment statistic, El

Paso Texas, Fall of 2012)

(H. Houghton (2014). Accounting 2301 syllabus, Fall Semester of 2014.)

(THE TEXAS REAL ESTATE COMMISSION (TREC). (2014). Farm and Ranch
Contract. Texas.)