Few Questions from a College Student
First post here on WSO. Great site, keep up the good work.
Currently, I am a middler at Northeastern University (not to be confused with Northwestern). Middlers are the 3rd year students in a 5 year program. I have a few questions regarding major choice and future consequences.
I am in the process of studying both finance and accounting as a dual concentration. However, I feel as though I should drop finance and take up another major such as dual majoring in economics and accounting.
I've narrowed it down to 4 options after dropping finance and I will explain why I dropped finance in a bit.
1) Dual major in accounting and economics
2) Major soley in accounting and minor in economics and mathematics
3) Major soley in accounting and minor in economics and study abroad (ex. LSE)
4) Continue with finance and accounting
The reason I've chosen to drop finance is because, frankley, Northeastern is ranked #69 in the country overall. Now, I am not at all ashamed of Northeastern. In fact, I love the school, the education, and it has the best Co-op program (currently working for State Street Global Advisors for my 1st Co-op). Northeastern is either the 2nd or 3rd fastest rising college in the nation and has descent undergrad programs. I love my school and I'm a Husky at heart. My reason for choosing NU was not as simple as "brand name," but rather fit and I fit there perfectly.
However, after doing a bit of research, and reading alot of mumbo jumbo about HYPS and the top 20, I look at Northeastern and say to myself, "Wow, Were not even in the top 50." Now, everyone keeps talking about their prestige and eliteness from their top schools and it seems that a finance degree from NU won't do me much good. Top schools such a Harvard don't even offer those degrees for undergrads (correct me if I'm wrong). Student's take economics as their version of business.
Obviously, accounting jobs are plentiful, but the "great" finance jobs are limited and seem to be reserved for top 20, even top 50, schools. If I finished with a finance degree, I might get stuck with an accounting job or a remedial finance position.
I want to know whether it would be smarter to just do an accounting degree with either economics or without, work for a big 4 accounting firm, and do my best to get into a top 15-20 MBA program. I want to ultimatly work in finance.
Do you guys agree with my logic and what would you do in my situation is what I really want to know.
Sorry for the length!
Since you have 2 more years left, why don't you work your ass off and stick with Finance and Accounting? Or why don't you drop accounting and major in Finance and Math, or Finance and Econ?
Why waste time and go to a Big 4 firm and later jump to MBA? Why don't you go straight for the finance jobs you actually want ?
This is what I would do if I were in your situation: Keep the finance major. Graduate NU with a 3.7+ GPA or something close to that, take up a lot of ECs in the next two years, try to get a finance related internship next summer, and start applying for FT jobs after that.
If you really want it and you're hungry, you'll get there just don't f*ck around. I come from a school that's ranked lower than NU (I think?). In cases like this, I feel like it's more about the individual's effort and not the school's ranking. As long as you have a high GPA and other solid credentials, demonstrate an interest in finance/banking during school (through clubs, ECs, internships, whatever), you should be able to get something. Your current plan would be a huge waste of time and effort, you still have a shot to adjust whatever it is you need to adjust for the career you want.
Listen to Flake's advice. Also see if you can find some alumni who made it into some of the banks on Wall St. Reach out to them and show your interest. If that doesn't work then start reaching out to random people now. If you work at it then you can make some decent connections over these two years and find a way to break in.
I'm currently at Northeastern, also got my first co-op at SSgA. The school overall is ranked 69th but the undergrad business school is around 27-28 (changes every year for whatever reason). I'd stick with it. The plethora of economcis degrees come from the small liberal schools that are for some reason affiliated with Wall Street. Just network at co-ops and you'll easily get a job.
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