Double Major--is it worth it?

I'm currently a rising sophomore attending a bulge bracket target, UChicago. I will for sure get an economics degree. My GPA is sitting at a humble 3.1. However, I've already taken the good majority of grade-deflated classes within the econ major. Econometrics is the last intense class I have to take, and then it's just cool econ electives after that. With just another 7-8 classes, I can also get a Stats BA or BS. However, these 7-8 classes are pretty difficult. If I just did the econ major (even with a stats minor), I think I could get my GPA up to 3.5-3.6 in the next 2 years. Will getting a Stats BA/BS be worth it even if my GPA is ~3.2-3.3 upon graduation? How will MBA admissions or employers look at this?

If my GPA were 3.2-3.3, would HBS, Wharton, Stanford, etc be out of the picture, even with great recommendations and work experience? Would UChicago's grade deflation be considered?
I'm mainly interested in sales and trading; ibanking; consulting; risk management; and actuarial science.

 

If your parents are paying for it, do the double-major. B-school is too far away and never a sure thing. Stats will give you a more flexible degree and make you competitive with math-econ majors.

Do stats.

I'll do what I can to help ya'll. But, the game's out there, and it's play or get played.
 

A good GPA will make you far more competitive for your fields of interest than a double major. Also, you need to get extracurriculars under your belt. You're going to screw up your resume pretty badly with a difficult, time-consuming double major. Based on your freshman year GPA, you are not equipped to handle it. Nothing to worry about... doesn't mean you're not qualified to get into the fields of your interest.

 

Yeah, I'll probably just do the Stats minor; I can avoid many of the difficult classes by doing this. I've also got 2 summer internships under my belt and membership in a few clubs, both business related and non-business related. I'll be running for leadership positions within these groups this year.

 
saints2009:
Yeah, I'll probably just do the Stats minor; I can avoid many of the difficult classes by doing this. I've also got 2 summer internships under my belt and membership in a few clubs, both business related and non-business related. I'll be running for leadership positions within these groups this year.

on the right track then. extracurrics + networking are FAR more important than your major. FYI, don't even need the stats minor. Do it if you'd like, but won't really be of much help.

 

Higher GPA is better. No one will take time to look into the actual contents of your educational background - ever. Good school, high GPA and you're fine. Screw it up and you likely wont get to the point where people are considering whether you should get a double-major break.

Good luck.

 

GPA > finance / econ / accy major with low GPA > Double Major

All that matters is that you have some way of showing the company you are a) smart b) hardworking. This is what a high GPA does - a double major with a low GPA sends a lot of mixed signals and iinterviewers have no interest in trying to sort out those mixed signals - they just toss your resume in the trash and move on to the next one.

 
MistaBooks:
GPA > finance / econ / accy major with low GPA > Double Major

All that matters is that you have some way of showing the company you are a) smart b) hardworking. This is what a high GPA does - a double major with a low GPA sends a lot of mixed signals and iinterviewers have no interest in trying to sort out those mixed signals - they just toss your resume in the trash and move on to the next one.

Reductive, but yes, that's essentially how it goes.

 

So you've already got FT gig lined up?

I'd only keep the additional major if its something you're genuinely interested in. In hindsight, I wish I would have studied something I actually enjoyed learning about (at the time I did enjoy learning about finance)... but in hindsight I much rather would have spent that time studying something I enjoyed other than what I would spend the next 40 years doing.

 

I disagree with the comments above. If you're a year away from completing the double major, I would absolutely do it over going to a few more parties and taking it easy your senior year.

It's not a waste of money to get the extra major since I doubt it costs anything extra. The waste of money would be if you had the chance to get another major but chose not to.

I've met many dual degree (finance + engineering) students from Penn and I think having that additional degree still helps when it comes to buyside recruiting or business school, even if it's never the deciding factor. You're right that the effect is marginal, but what you studied in college will be a part of your credentials for the rest of your life. Even if it has absolutely no material career impact, I think a double major is always more impressive because it shows both a capacity and a desire to learn more just what is required.

And I would do it even if you weren't actually passionate about your second degree, since I'm assuming you've already taken classes to begin fulfilling the requirements.

 
Best Response
abcdefghij:

I disagree with the comments above. If you're a year away from completing the double major, I would absolutely do it over going to a few more parties and taking it easy your senior year.

It's not a waste of money to get the extra major since I doubt it costs anything extra. The waste of money would be if you had the chance to get another major but chose not to.

I've met many dual degree (finance + engineering) students from Penn and I think having that additional degree still helps when it comes to buyside recruiting or business school, even if it's never the deciding factor. You're right that the effect is marginal, but what you studied in college will be a part of your credentials for the rest of your life. Even if it has absolutely no material career impact, I think a double major is always more impressive because it shows both a capacity and a desire to learn more just what is required.

And I would do it even if you weren't actually passionate about your second degree, since I'm assuming you've already taken classes to begin fulfilling the requirements.

There's a difference between a dual-degree program like M&T or Huntsman or Vagelos and the standard kid at a good school who picks up a B.A. in econ and history or a B.S. in finance and accounting. The former is two separate degrees, and the latter is one degree with two majors.
I am permanently behind on PMs, it's not personal.
 

I actually had the same issue when I was graduating, had my full time offer at a BB bank (MS / GS / JPM) in a good group and had to decide whether to keep my hard science major (engineering, math, physics) in addition to the finance major I was already getting. It would require me to take a lot more hard classes senior year and load up my schedule. At the time, I decided to go stick with the additional major because I felt I needed to justify my GPA (3.50-3.75 area) with a hard science major. Also, I must admit I liked the subject and enjoyed having a science major on my resume (and for those reasons do not regret it at all).

In hindsight after going through IB and PE, here is what I would say are the real benefits / considerations of the issue for a career in finance. As several people mentioned above, by far the most important factors in general finance will be the school you are at and the GPA you get. As someone who has been through the process and is now involved in running my firm's recruiting process on the other side, those are the first two things you look at. So to the extent that holding your second major will meaningfully decrease your GPA (call 0.2 or greater) then it is not worth it.

However, there are areas of the finance industry where a hard science major will help a lot. If you want to go into something more specialized in tech or anything closer to the VC areas, a hard science major will be viewed as a big plus. This deals with the fact that many companies in these areas are based on the success of highly technical / innovative products. Firms believe (rightly or wrongly) that someone with a hard science background will better grasp concepts underlying these products and better understand the feasibility and technology defensibility of products.

The third and less common situation would be if your school is one where two majors are expected. There are a few schools out there where almost all ambitious and successful graduates have two majors, and to the extent you only have one, people from that school view you as having slacked off in college. If you are at a school like that, you will know it.

To the extent that none of those three situations applies to you, then it really won't have a big impact on your career in finance and you should just decide what you want. People on here often overestimate the important of these factors to firms when hiring. Usually PE and IB firms can tell after looking at your resume for 5 seconds if they want to interview you or not, and if you are on the edge, then items like school, GPA, first major, work experience and, clubs / extracurricular activities are deciding factor before a second major. It may be a slightly larger factor for IB recruiting, just because at that point your resume is so bare (but still 6th or so). And for PE, a second major moves even further down the list behind your bank, your group, your deal experience, headhunter impressions, recommendations from senior people in your office etc.

So now for PE second major is like the 10th factor, and that's just for getting you foot in the door for an interview. Once you are in for an interview, talking to your deal experience well, showing strong grasp of business, personality and demonstrated intelligence are what actually get you the job. So unless you fall into one of the specific buckets above, do what you want, don't worry about it, and once you get to FT IB focus on the factors that actually matter.

 

From someone that went double major and minor route it doesn't add additional value. One is plenty

I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold. I'll be fine once I get it
 

I think you need to consider what your second major is. I double majored in finance and econ and I feel they complimented each other very well. I spent some time at a PE firm that took over ethanol plants. A finance degree got me in the door but my econ degree helped me understand the supply and demand structure of corn (the main input for ethanol for which profitability hinges on). This allowed me to contribute to our hedging strategies more so than other people in the firm and by the end of my time there I was the CFO's right hand man for building and maintaining derivative hedging models. However if your second major is family studies you might as well drop it. I would also say 2 majors gives you a bit more slack on GPA.

 

Pls. don't graduate early if you can help it. You can take more classes, and enjoy school. That time never comes back - a lot of kids in my class who graduated early regretted doing it. That said, if you're absolutely financially constrained and are forced to it, I'd try to get as much as accounting experience and get the double major. Helps a ton in summer BB recruiting.

 

i would graduate in Dec, so just a semester early, because that way you still have a chance to do a summer internship and go through full time recruiting if you so desire, but at the same time you'd also have the option of starting work early if your company wants you to, or travel...

I don't accept sacrifices and I don't make them. ... If ever the pleasure of one has to be bought by the pain of the other, there better be no trade at all. A trade by which one gains and the other loses is a fraud.
 

Unless your college life is really miserable, DON'T LEAVE EARLY!!!!!!!!! These are the golden years of your life where you have no responsibilities and to put it simply, this is the last chance you get to fuck shit up. Go get drunk with friends on a Monday. That wont happen once you graduate. The dimepieces that walk around campus will turn into something you dearly miss so get to work.

If that approach doesn't hold weight, just look at the industry right now. Not to say you can't break in and make it rain, but why rush things when you are going to be doing this for the rest of your life and the competition has never been stronger in the labor market.

I'm trying to think of anything I can say to convince you it will be the worst mistake of your life to forgo this precious time that will never come back again. DONT DO IT!

"I'm short your house"
 

Don't graduate early.

- Bulls make money. Bears make money. Pigs get slaughtered. - The harder you work, the luckier you become. - I believe in the "Golden Rule": the man with the gold rules.
 

stop caring about how you appear. the question is: will it help u succeed once u get there? grow sum nuts

 

Quit being a God damned tool and just study what you want to. I can't stand people who do EVERYTHING based on getting a damn job. Look, major in finance or economics and don't stress a double major just to stand out. Do extra curriculars, become a leader, get good work experience and just make sure you get good grades. The more you stress about crap like this, the more likely you will turn into a typical finance nerd with no social skills and a greater attraction to WACC then girls.

"To Know Me Is To Love Me"-Jebus Price

 

Well said, if you are really interested in the material then double major or minor in economics. But don't study something you don't like just for the sake of a job. It's a dawg eat dawg world.

It's a dawg eat dawg world.
 

i am going to UCSD there is no finance major here i am thinking of majoring in Economics is there any chance i might break into IB?

also do most people who are in IB only have a undergrad, or most of them have graduate degrees?

 

International business would be an addition to finance? Intl bus isn't extremely relevant but it wouldn't hurt... I mean some lets you specilize in intl finance and you will learn pretty interesting stuff on FX, swaps, derivatives, and you will have a good sense of econ indicators.

Finance + anything relevant wouldn't hurt whether it's accounting, international business, quality management, marketing, economics, math, statistics, computer science...

Actually for some fixed income structuring job (like CDO's) finance + comp sci or math would be pretty helpful.

 

See my PM for a more personal response.

Out of respect for any other curious readers, I will post this much though: Quant hedge fund recruiters told me in an extremely similar scenario that provided I could pull it off, the math major was well worth an extra year unless there were very, very serious financial obligations that forced me to graduate in three years.

 

If you can afford it and believe you have the ability to do well in it, yes. Trading is becoming more quantitative as time goes on, frequently job ads for the more vanilla products are now asking for a quantitative academic background. I believe my lack of a quantitative degree has held me back somewhat since I began trading (product specifics not forthcoming but I would call it a 'mature' derivatives area ), and am remedying this via self study.

 

typical case of correlation/causation confusion..people who opt to double major tend to be more ambitious, hard-working and will therefore have a higher compensation ceteris paribus

 
noonies:
typical case of correlation/causation confusion..people who opt to double major tend to be more ambitious, hard-working and will therefore have a higher compensation ceteris paribus

+1

 

I feel like it would depend from school to school, curriculum to curriculum, and how related the majors are. Like I know at my school accounting and business admin majors take most of the same classes, and for an accounting major its feasible to double major in bussiness admin (only a few extra classes)

Gang, Gang, Gang
 

The best thing to do is find double majors that overlap (finance and economics degrees, as examples). That way you've got two degrees but were able to cut, say, 5 classes out because they overlapped. I triple majored and only had a combined 25 hours of class my last year without ever taking any summer school because my majors overlapped so much.

 

I think that if you can get a double major without hurting your GPA then why not go for it? That is assuming that you are willing to put the time and effort into it. It is just another way to stand out from the pack.

Just wondering; why would it be a waste of money?

Banking > VC > Tech PE; PM me if you would like any advice I'm happy to help
 

Don't pick a major simply based on what kind of employment opps you think you'll have when you graduate.

I was an econ major and loved it. It's much more broad and requires more critical thinking than finance. (Apologies to the finance majors--I'm not trying to step on any toes here). It also teaches you a rational (if cynical) and holistic view of how the world works. Finance is glorified arithmetic.

Anyway, when I decided to narrow down within econ and focus on finance specifically, I simply grabbed a couple of books on accounting, investing, etc. (Full disclosure: I went to a liberal arts school, so we didn't have a finance major. Not that it would have made a difference).

So go with the double major.

 

Employers look at your GPA and that you understand the basics you could learn from any book. Two majors can show you work hard, but there are other was to do that as well.

 

Thanks everyone! I really enjoy both finance and econ so I don't look at it as additional work, it will cost me 12,000 more to do it so I just wonder if the payback is there or not. I don't forsee it affecting my gpa at all (I currently have a 3.6 overall with a 4.0 major gpa in both). But looking at your comments, I think I will go for it. Again, thanks for all the help!!!!

 

The only time where I've been convinced that double majoring is a good idea is when it only takes a few classes to make it happen. If you want two very different degrees, like political science and english, or something like that for grad/law school, I understand. I just think that having two degrees isn't worth the extra time. I planned on double majoring in econ and finance, but opted out since I was working full time, and the econ classes were offered during the day. I was only taking night classes at the time. It only would've taken three extra econ classes to make it happen, which was my thought process when I considered it. What type of extra work will it take? Also, what type of career/grad degrees are you thinking about doing? That might help with answering your post.

"Decide what to be and go be it." - The Avett Brothers
 

Some advice I wish I took earlier in college but did not. Do an accounting minor if you want to work in finance.

It's extremely helpful.

I don't care you're degree as long as you have a 3.5+ and some accounting classes.Not a universal comment, but man it would've helped me...

"If you want to succeed in this life, you need to understand that duty comes before rights and that responsibility precedes opportunity."
 

I started as accounting, and found more interest in finance, since the course load semi overlapped, and I wanted 150 credits to potentially sit for the CPA after graduation, I chose to double major to get it instead of additional accounting coursework. I was able to do that in 4.5 years, probably could have in 4, but I had a plan laid out that fit what was best for me. It all depends what you want to do, I would say it did help me somewhat in studying for the Financial Reporting & analysis section of the CFA, but like I said it all depends. I think if it is not overly burdensome and it fits your goals it is worth pursuing, if you are going to be in school 6 years for it, then maybe you want to reconsider double majoring.

 

No. Just make sure your daddy is well connected. If not, go to med school or study math/CS to do quant finance.

If you're too stupid for these options, do like most, study finance and go look at an excel spreadsheet for 15h a day.

 

I did finance and econ - if you want to do IBD, econ is a waste of time. But if you're interested in S&T, taking upper level econ courses (ie - econometrics) is useful. That said, if I could do it over again, I would've switched my econ major to math (I minored in math).

 

Well, I think you might face some difficulty tackling PPE and Finance together because the latter involves tons of math and the PP specifically are theoretically based. Maybe Economics and Finance or Finance and Accounting?. it's ultimately up to you if you feel that you're capabale enough to take it on without feeling overwhelmed then go for it but it's better to thoroughly think this through before you make a final decision.

Best of luck to you.

 
holla_back:

Hell, if you're at a good enough school you could major in just PPE (politics, philosophy, and economics for those who don't know what he's talking about). Are you?

Well, actually..i am thinking of taking them from two different university. And yea, one of them is a target..

 

Finance... take courses focused on investments, options & futures/derivatives, portfolio management, international markets/foreign exchange, etc

Also, added bonus - you will probably have some professors who have industry experience and can be a great resources for career advice and general real world knowledge (~99% chance your econ profs will all be academia lifers)

 
The Kid:
(~99% chance your econ profs will all be academia lifers)
This is awesome.

But as far as picking up finance as a minor or a second major, I would suggest starting out on a minor program but keep your mind open to the double major possibility.

Also sometimes the professors that are really interesting/good resources don't crop up until the higher level courses.

 

Having been in a similar position in the past. I can tell you with utmost certainty that accounting coursework is valuable but mostly if you are trying to get into the accounting industry. Beyond the intermediate level financial and managerial accounting classes, the courses get so specific and in depth that you may never make use of material you learn in any other profession besides accounting and audit. With that said, I chose to double major in both and I will say that the accounting side of my degree has been much more sought after than the finance during recruiting. My gpa also took a huge hit because of the upper level acct classes. So think wisely before diving in, if you are attached to your gpa or hate the idea of studying cpa law questions, computing tax credits, consolidating financial statements then you should probably stay away.

 

go for what you like, that will realistically give you positive results. As cliche as this sounds, it's how you apply what you learned in school in the real world. Don't do it just for it to look good on paper, but if you want to do it go for it. If you want 2 work abroad, ibus 9with a foriegn language) and finance would be pretty solid. The minor in econ is kinda an overkill. You might want to minor in computer science,math, or accounting instead.

 

Interesting, those are my majors with a minor in Arabic graduating this december. Ya, I agree the language portion of the IB degree is probably the most valuable part. I've gotten far more interviewers who are interested in my finance degree than the IB, though I am applying for finance-related jobs. Add Arabic to that list above as I've had many people see that as a huge positive. If you are serious about finance, listen to the people on these forums and add math and ditch the econ or IB. Though, if you enjoy it, keep it. If I could go back I'd add more math intensive courses and probably ditch the IB as I did it initially for the prestige it offered within the business school here. The econ minor is probably only another 6-9 hours right? It may be worth it. If they had it at my school i would of added it.

But, enjoy what you study and you'll be good. I've enjoyed college to the max, more than I should have and I'm gonna leave with a 3.7 from a top public university so the degree itself isn't overly difficult. math or physics or engineering would add difficulty.

 

Well, a double major is always good. Plus it gives you more options if the whole banking thing doesnt work out.

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 

accounting -- you can always do both accounting & finance jobs, but with a finance degree you can only do finance jobs. plus usually accounting is harder. accounting should be your major, finance should be your hobby. you can easily teach yourself everything you'd learn in the finance major on the side for fun

 

I mean, if you can keep it above a 3.5 with both majors (and actually learn the material), I'd say go with both. I'm aiming at the Fin/Acc dual major and frankly if my GPA is a 3.6 vs a 3.9, I don't really care that much. But it won't be.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

accounting/finance will really help you with getting a good first job. You'll have a ton more options. An accounting major can do most of finance major's jobs...but not so the other way around.


Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...

 

7 classes seems excessive. Do you think you can handle this load while holding/improving your GPA? It might not seem so bad at first but during finals or other weeks where your exams conveniently line up it will be tough. If you think a double major can help you that greatly without hurting your GPA then go for it.

Banking > VC > Tech PE; PM me if you would like any advice I'm happy to help
 

Can't you take a few accounting classes and mention it on your resume or something ? Or maybe minor in it if it's possible, although most schools don't have an accounting minor

 

In most situations, relevant work experience is more significant than another major. Also, banks do not care too much whether you are accounting/finance or just finance as long as you have a great GPA. Unless you are planning on pursuing a career in accounting, I would recommend that you excel in your courses and at work.

 

so you are going to keep the econ minor AND pick up a double major? or drop the minor too and just be a double major only? because i think finance major with econ minor pretty much sounds (almost) just as good as a finance/accounting double major in terms of a prospective banking candidate. since your job's not really relevant to ib, i think the only considerations here are how much u need the money, and whether you can keep up your gpa.

 

From what I have read on here, and anyone can correct me if I am wrong, MBA's are worthless if you dont have much experience in the job market. I too have the option to pursue an MBA with my undergrad but the more I looked into it, I didnt feel like the benefits outweighed the costs. Instead, I DM'd in Economics and Finance which I am thoroughly pleased with the decision.

 

What type of Master's degree are you considering? If it's an MBA, the previous post is right in that an MBA is not really valued without work experience. But, if you think longer term, if would be unbelievable to have completed your Bachelor's and MBA and only 4 years before joining the workforce. Having to quit working for two years to complete an MBA in your mid-twenties is appealing to some, but it's extremely expensive and you have to go back to being poor for a couple more years. If you can get it done now, why not? It may not get you a better job or higher salary upon graduation, but it'll still be on your resume forever and you can spend the two years you would have spent at grad school climbing the ranks.

 

Hellll no. Go with the double major over the master's degree. The master's degree puts you in a super awkward position for recruiting. Namely, after you complete your undergrad in 3 years you won't be eligible for junior summer analyst positions. Also, after your second year you will technically be competing for junior year internships that year but you won't be competitive because the odds of you have a solid experience after your first year are really slim.

TLDR: DO THE GOD DAMN DOUBLE MAJOR

 

If that's the case, then I'll go with the double major, especially since I'm doing a study abroad during the upcoming spring.

The other poster said "don't do a double major unless the second one is CS" - how effective is this strategy? Like I'm sure I can pick up accounting through Wall Street Prep and other resources, but some of the professors that I talked to said that in order to really get a grasp on the subject, I have to take classes and follow through with the major. I don't plan on taking the CPA and going into accounting, though. However, I feel like with a single major, I'm lacking in that respect since a lot of my competitors will boast double majors and similar-ish GPAs.

 

Double major, but only if the two majors are closely unrelated (like Mathematics & Industrial Design, Political Science & Computational Engineering, etc...), to the example of the "don't do a double major unless it's CS"..

Hands down I would hire someone with a "near-Polymath" skill set over a very specialized skill set any day.

 

I'm a double, but it's solely because I like both fields of study. One of the two is STEM, the other is not. Only really new observation I can add here is that people with STEM degrees seem to notice that you have one as well. I haven't heard anything similar from my friends with LA/business doubles, but your mileage may vary.

I do think that if your sole focus is IB, the additional major/masters would probably come at an opportunity cost of more networking and end up being negative to you. If you don't exist solely for the job you'll have after graduation you should really take some time to think about what's important to you rather than asking strangers on the internet.

I personally have found my STEM major to be generally more stimulating and well worth the additional effort.

Ideating's right on.

That being said, do whichever's going to be easiest for you to keep a high GPA.

Be wary of the Business Mktg major because although it sounds interesting and fun, these type of classes are usually tough to get good grades in (highly subjective grading) and consist of time consuming case write-ups and projects. This is a pretty broad statement, but it held true pretty consistently at my undergrad b-school.

I'd go the Math route, as I wish I had taken more advanced math in college (note: not because I need it in banking, but b/c I always found it the most interesting).

 

One thing I've found is that having that Math minor will quell any questions people may have about your "quant" abilities, whatever the hell that means. Very minor point though, don't let that change your decision.

If I had to do it all over again I would go to a top target without an undergrad business program and major in Psychology or some other relatively easy major that won't get me laughed out of a resume screen. Then I would take the basic minimum requirements for my major and other grad requirements. I would also take some math courses at the local community college during my freshman and sophomore summer, ace the f*** out of them. I would additionally take as many transfer credits as possible at said community college.

Outside of my basic requirements to graduate, I would take every single ridiculously easy bullshit intro course I can find. Every department has at least one or two to tempt students before the hard shit kicks in. I would also take the max allowable number of pass/fail credits. I would do a study-abroad program for one semester, the more bullshit the better.

I would join a social fraternity and the business fraternity, and bitch myself out a little bit (volunteer to do shit, get involved, etc.) in the social fraternity to get president or VP by junior year. I would get 3 friends together to "start a business" that would have me do stuff that isn't so bad (anything interacting with other students, casually flirting with any attractive female customers, organize/plan parties, etc.) I would start hitting up alumni and developing a network beginning late freshman year or so. At the end of my 4 years my resume would read something like this:

Harvard- BA Psych Overall GPA: 3.9/4.0 (don't leave my psych major on there, it's probably lower) SAT: xxxx/1600 President- XXX fraternity, YYY business fraternity Freshman year- Started X business, all 4 years... $xx in revenue Sophomore year- PWM, Junior year- IBD somewhere

Same thing for consulting, an IB internship is great to get interviews for FT consulting and you have your story pre-crafted (wanted exposure to full range of business skills not just finance, lifestyle was just slightly too much- you would prefer to work more directly with the client, travel is not a problem). I don't know about banking, but I can almost guarantee an interview with every top consulting firm with that resume (MBB, Booz Allen, Monitor, LEK, Parthenon, Mercer).

Minimum effort for maximum benefit- I know, I am a cynic.

Ahhh the benefit of hindsight....

Well Currently I am in the process of starting a Charitable group for raising money for cancer research. I already have the backing of the Cancer Research foundation. My dad owns a web hosting company so I have a very strong background in computer programming, as well as networking and graphic design, so being neither of those will have any effect on me, I think I’m going to go for a minor in computer science, being it will get me partly down the road to software engineering, I know I can ace and probably test out of everything in those classes up to and including some of the 400 level classes. And my dad wants to set up a computer shop as he is a legal reseller for Dell, Intel and Microsoft. So all I have to do is take 3 tests to be the same, me and a couple friends could set up the shop for him as our business.. How does all that sounds? :D

Thanks for the input guys; you all make this a EXCELLENT place for information.

 

I know I am resurrecting a dead thread but I am planning on doing either: 1) A major in Finance and a double minor in Acturial Mathematics and Computer science

OR

2) A double major in Finance and Management and a minor in EITHER computer science or Acturial Mathematics

which one should I go with? And if you suggest i take the second option then which minor should I take? And if there is a possibility of doing BOTH the double major and the double minor, will it be worth my hard work on my CV in terms of getting recruited?

Thanks guys

 

It really doesn't matter what you major in if you're deciding based on what will get you a job in investment banking.

Put it this way. If the hordes of Yale, Harvard, Princeton, etc. liberal arts majors who haven't touched a math book since high school are getting hired by the banks, that alone should tell you how relevant your academic major is to the investment banking job. If the Ivy kids' lack of formal quant background were a true handicap, the banks wouldn't be hiring them in the first place.

What you'll see in banking is that at the analyst level - while the business majors, math guys, etc. may have an initial leg up during the training program and in the first few months on the job, they don't do any better or worse than the other analysts who majored in liberal arts.

The actual job as has probably been mentioned many times on this board isn't rocket science. Far from it.

What banks want first and foremost are young people who are bright (regardless of their major), articulate, detail-oriented, and willing to work their asses off. Not to mention someone who is not a social retard (as it's still a very fraternal culture where you are working for long periods of time with your transaction team).

One of the most important things that can help you in your career is to know that your interpersonal skills are what will make or break your career - not your analytical skills.

There are plenty of people who are great with numbers. There are far fewer people who are articulate and good with people. Far, far fewer. And if you've got strong writing and speaking skills, you WILL get noticed by the senior folks. The math geek in the office is usually left alone to his/her own devices. The person who can write and speak well will more likely get invited to dinner with clients, weekends with the MD's family, and other 'after work' social events where you have the opportunity to get to know those in the inner circle (as well as the inner circle getting to know you).

If you want to be part of any inner circle no matter which industry you're in -- whether it's Wall Street, corporate, tech, politics, etc. You're not going to get there because you're a math genius, but because you're great with people (which can then be interpreted by others as "charisma" "charm" "presence" etc). The sooner you can get into that inner circle, the faster your career will accelerate.

Power and mobility comes with your ability to influence people, not numbers.

Alex Chu

Alex Chu www.mbaapply.com
 

Hi fox89,

You pose an excellent question. You can certainly expect I/B recruiters to question you about your choice of majors. The key is to give a confident answer and explain how the choices you made will make you more valuable to them. At the end of the day, you’ll find I/B analysts with a wide range of undergraduate majors, so pick a major that will challenge and excite you. Similarly, the choice of undergrad major will not have a big impact on any future b-school applications so long as you have a good transcript and progressive work experience to promote.

Best of luck with your applications!

Sincerely,

David Petersam President AdmissionsConsultants, Inc. [email protected]

www.AdmissionsConsultants.com 703.242.5885

 

Jimmy Cooper was a PoliSci major and he got quite big in PWM, but then committed fraud....your choice.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

I did a double major B.Comm, B.A. in Poliitical Science, In interviews the second major raised a few eyebrows, but it didn't do anything special. That said, I'd argue that coming out of school I had better analytics than many of my peers, and my writing was also better (Sell Side Equity Research international names - for about another month). If you're going through to pass the classes, it won't add much, but if you actually learn the materials, and better yet, the underlying skillsets, it'll add something to your skills.

TLDR: B.Comm + BA Poli Sci, I tell people it made me smarter, but it doesn't impact your ability to answer the technical questions.

 

i very much doubt that doing a double-major in political science is going to give you a boost in terms of job prospects, since economics is already considered a "social science".

that said, if you find political science to be enjoyable, i say go for it. you have an opportunity to study more or less anything you want at one of the world's greatest educational institutions. this is probably the only time in your life you will have such an opportunity, so make the most of it!

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
 

Not worth it imo. Having spoken to analysts at BB for networking, though the banks do take kids from every major, there are some people who are very prejudiced against non technical subject majors (eyebrow raising, when you realize how many of these people there are considering how some posters on here spin it). The overwhelming input I have received in regards to my own major/classes/gpa suggests that school is more for just performing well in and that getting a high GPA is more important than learning bullshit theories you won't use on the job. So if I were you, I'd suck it up major in econ and learn things about finance/political science/whatever through clubs, extracurriculars and from reading books.

 
saints2009:
Guys, so I can either do a second major in poli sci or get a minor in statistics. Would the minor in stats be better regarding job prospects?

Minor in stats will suggest that your course load was more technical/rigorous than if you go with poly sci (which might suggest that your degree focused on the sociological/political parts of econ). However, no one really cares about minors and so only having 1 major with a few interesting stats classes on the side would be good as well. If you really enjoy stats, by all means go for it but it won't make that much of a difference if it isn't a major.

 

I'm actually more than halfway done with the econ major. I just need to take stats, metrics, and four electives. Since I had finished early, I just wanted to know if getting a relatively easier major was worth it. I actually wanted to try math, but math at UChicago is fucking hard. Even the brightest students at UChicago get wobbled in a few of the classes.

 

I'm political science + economics (although not at UChicago) and pointed out to a BB MD how a solid understanding of politics seemed especially vital in today's climate given the relevancy of Europe, congressional negotiations on debt ceiling and fiscal cliff, etc. Sure, you can develop a working knowledge of those areas without a degree, but I think it demonstrates an interest and aptitude. The MD seemed to agree, for what it's worth. In any event, everyone else is right in saying that no doors will close for you by only having an econ degree - but if you have an interest, go for it.

 

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