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.
GPA>double major. Don't worry about bschool right now... that's so long away. Figure out your employment situation, get a few years under your belt, THEN focus on bschool. useless to speculate now.
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.
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.
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.
Do bulge bracket banks and consulting firms actually look at your transcript to see which classes you got A, B, C in? Or do you just state your GPA on your resume and companies assume you're honest?
Nope. They only look at your transcript after you've signed an offer... and even then it's just for background checking purposes / matching resume GPA to transcript.
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.
Value of Double Major? (Originally Posted: 10/20/2013)
Next year will begin an analyst stint at an elite boutique. Hate to think too far ahead but am at a point where I need to decide to keep or drop a second major. It will make the rest of this semester and next semester much easier for me...but it of course might make my GPA seem less impressive given that it was only one with one major.
Do you all think this has any bearing at all on PE recruiting, business school, and the like? I assume it's very marginal, but I wanted to hear it from those who have made it further than I.
Reductive, but yes, that's essentially how it goes.
I think school and GPA are more important than major to a degree, in that I don't think a single vs. double major will be a factor. If you don't get in to a top bschool/PE firm, it won't be because you did a single major vs. a double.
An extra major in your case is a waste of money.
That too. Enjoy the rest of your senior year before having to start work.
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.
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.
Go enjoy time off. You have a job.
From someone that went double major and minor route it doesn't add additional value. One is plenty
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.
Graduate Early with a Double Major or Graduate Early Early with a Minor (Accounting) (Originally Posted: 10/20/2011)
Hey guys,
I have the chance to graduate early with a minor in accounting (2 quarter) or the the chance to graduate early with a double major in accounting (1 quarter).
Can I hear your thoughts? What would you do? Why would you do it?
Looking to get a SA position for 2012 at a BB.
Regards
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.
Start working early!! I did triple majors and I didn't find any benefits staying longer at school (unless you like to party and chill). I learn much more at work than at school. Just a personal opinion.
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...
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!
Don't graduate early.
benefit in double majoring? (Originally Posted: 08/08/2006)
Do ya'll think there's a definite benefit in terms of getting a better internship / making yourself more attractive to recruiters if you double major? I'm currently thinking about double majoring in Business (Finance) and Economics - if i do this, my work load is a lot more, and I'll have to take extra lits / social sciences a couple semesters.
If i switch it the Econ to a "concentration" aka Minor, then it'll be a breeze, and I'll take about the same Econ (just not the other gen ends that come with a BA...)
Bad call? yes, no ?
You shouldn't do it if you think it's going to hurt your GPA.
stop caring about how you appear. the question is: will it help u succeed once u get there? grow sum nuts
God, just study what really interest you and is relevant to IBanking.
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.
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?
You don't bring down your GPA and it's relevant. Logistics + Politics major means crap.
Finance + Accounting would be hot.
What about an International Business co-major from Stern?
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.
You'll learn what you need for the job in training/ on the job. Just do what interests you.
bump
Double Major in Math: worth it? (Originally Posted: 04/06/2013)
Hi. I'm a 2nd-year student going to a good target school right below the level of WHYP (think Columbia, Dartmouth, UChicago, Duke, Cornell, etc. ). I was wondering if, provided I have around the same GPA, getting a second major in math was worth it in terms of recruiting for hedge funds or trading. I actually completed many of my econ major requirements early in my college career, so I could easily graduate a full year early if I wanted. So, with tuition costs and coursework rigor considerations, is getting the second degree in math worth it?
Especially if you're gunning for the trader route, having a math degree in your belt can't hurt, but help you drastically. You would be a much valuable candidate with a technical degree such as math.
If you're looking to working at a hedge fund or on a trading desk in a quant role, you will need to take comp sci classes. Knowing math is useless to a desk if you can't write an algorithm or otherwise code.
If you're not really interested in a quant role, then I'd say the extra time/cost/trouble isn't worth it if you're already at a target.
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 keep up go for it. The math part would be a lot harder than econ. As for cost, do it if you won't incur hardship, tough to know without knowing specific situation.
High level trading requires knowledge of C++, so learn that if you decide to go this route.
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.
Double Majors Earn More (Originally Posted: 07/22/2010)
Double-Major Grads Earn More
Students who graduate from college with double majors earn 3.2% more than single-major grads, according to a study of U.S. schools by Steven W. Hemelt of the University of Maryland. The study, which controls for factors such as college quality and the availability of double majors, finds that from one type of institution to another, the premium varies greatly, ranging from 4% for research-university graduates to zero for alums of liberal-arts colleges.
Source: Informa http://www.informaworld.com/smpp/content~db=all~content=a906834323
Interesting study. Does anyone think its worth it for 4% extra (if that)?
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)
totally second noonies comment. someone who is willing to work towards a double major during college will likely be more abitious and hard working later on as well.
I think the question is: Is a 4% bump in post graduation compensation, worth making it through college with your v-card still in your back pocket?
yea and most double majors also work harder
having a double major doesnt really matter all that much for recruiting
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.
Double Major: Is it Worth It? (Originally Posted: 10/31/2006)
Is a double major in econ and finance better than just a degree in finance? Do IBD's like to see this or is it just a waste of money? Does it help my chances of landing a gig? Thanks!
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?
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.
only do it if the extra course load won't affect your GPA.
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
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!!!!
and then
LOL what an idiot
Is it worth double majoring? (Originally Posted: 02/23/2015)
Just out of curiosity, is it worth double majoring in accounting and finance? Do employers really consider it or think highly of it rather than someone who is only majoring in one of them?
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.
Drink some water you're way too thirsty
Not worth it. Choose one and keep a high GPA. However, if your school has a specific requirement for a CPA eligible program and you are interested in going for that it might pay to use your electives for a second major if a substantial amount of courses cross over.
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...
Depends on school. As a double major, I would say it's worth it, but always remember time commitment and what your end goal for doing so is....
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.
Definitely helps me get interviews. Watch out for the GPA drop though, it really hurts :(
By no means.
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.
or be a female and have an exponentially higher chance at employment in the first place
If she looks good, yes.
Is the recruitment at Ross worth a double major in finance? (Originally Posted: 09/17/2011)
So I'm planning on majoring in CS in the College of Engineering at Umich (If I get in, I'm in LSA right now which also has a CS major and the same resources as the CoE). I'm contemplating whether or not I should double major in finance (If I can get into Ross). Pretty much the only reason is for the recruiting though... I would think that that reason alone wouldn't be worth it, but I'd like to hear what some of you guys have to say about it or if there's more reasons to go to Ross besides for the recruiting.
I know that finance would be more relevant for the job, obviously, but I'm not sure if the extra workload would be worth it considering IBs hire pol. sci. majors and teach you everything on the job anyways.
Halp! I'm really confused right now.
also: the major in CS is nonnegotiable unless it's in another engineering field (I want a lot of exposure to math in u-grad), but I would really like to learn programming.
In this market, I would make sure I had every advantage possible. And that means the Ross brand and the OCR associated.
Double Major (Originally Posted: 08/25/2008)
What looks more appealing to IBs? Majoring in Finance in 4.5 years or double majoring in Finance and Econ in 5 years? The circumstances that kept me from graduating in 4 years are very understandable, but I am beginning to wonder if I should stay a full five and get another degree. Or is just one degree in Finance good enough...?
i think finance and econ are too similar foer them to really care.
I rejected a full time to get two degrees in finance and math. I say go for it but try something else instead of econ.
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).
econ is the next best alternative for pe/ibd if ur school doesn't offer finance.
econ is good for IBD, but I don't think you could go directly from ug to P/E without having been a finance or accounting major
Double Majoring (Originally Posted: 06/15/2013)
Do you think it is advisable that I double major in PPE and Finance? I am interested in both but i fear the workload. Advise?
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, 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.
Do whatever will get you the highest GPA. That's the most important thing. If you think your GPA will suffer b/c of the extra work, don't double major.
Well, actually..i am thinking of taking them from two different university. And yea, one of them is a target..
Double Major Advice (Originally Posted: 11/05/2012)
I am currently majoring in applied math with a ~3.7 gpa at a non-target big east state school. Would It be worth it to add the finance or an econ major? The math is easy for me, so I don't think adding the finance or econ would hurt my gpa at all. Which major should I add if I want to get into S&T or prop trading?
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)
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.
Should I go the double major route or just pick it up as a minor? Would a finacr minor be enough to show my interest/get the required courses you need for s&t?
Finance minor will do.
Make sure you take plenty of stats, crucial for S&T.
Double Major: ACCOUNTING (Originally Posted: 12/26/2014)
As someone who is already a Finance major, how beneficial would it be to add on an Accounting major?
It would NOT take me any longer to graduate, but the difficulty of my coursework would increase significantly. This would inevitably take away from time for networking and other useful activities.
All opinions are appreciated. The essentially question boils down to; how valuable is accounting coursework?
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.
Points give seem to be:
1: The coursework is difficult 2: The coursework is only slightly relevant, at best
Given this, I certainly wouldn't do it.
Any objections?
"the accounting side of my degree has been much more sought after than the finance during recruiting"
Is a double major in finance and ibus, with a minor in econ pretty solid? (Originally Posted: 11/08/2010)
How solid is the combo on a scale of 1 to 10?
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.
I would kill the major in Ibus - if you're good in finance then they'll want you if you speak the foreign language of the office you're applying to. Good ones to know these days are Mandarin, Spanish, and Portuguese. Also skip econ and do the math major.
Just my thoughts.
what about French? thats what im taking in college.
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.
One major or double major? (Originally Posted: 02/22/2011)
I am deciding whether or not to pursue the finance/accounting double major or just stick with accounting or finance as a major, and I need to know what would be most beneficial for me in terms of investment banking recruiting. I feel that I can get a 3.80+ in either or both majors, but my school is a non target and our finance program is weak in comparison to accounting so I feel like the double major would be good because I really like finance. I know this has been debated in the past but I would like some advice in our regards to my situation.
Thanks.
And to clarify, in the long run I'd like to attend a top 20 MBA school and then work at a hedge fund post MBA
Well, a double major is always good. Plus it gives you more options if the whole banking thing doesnt work out.
Whatever you can do to get the best GPA
just one and kill it with your gpa
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
This is a no brainer... if you think you can get a 3.80+ in both majors at a non target, then DO IT!
If your from a non-target I would suggest going for the double major since your resume will have to turn some heads to get noticed.
Just focus on a high GPA- it won't matter for recuriting which one you choose.
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.
Just go with the finance major and spend all of the time you would on the accounting major to network.
high gpa...period.
double does help marginally...but a tenth as important as gpa
Unless the second major is math/engineering, then GPA is all that's important. - go with the single major.
Is a double major worh it? (Originally Posted: 12/23/2006)
I know I should be drinking egg nog right now, but I need to decide if I'm going to double major by next week. Anyway, if I take 7 classes for the next 3 semesters I could graduate w/ a double major in accounting and finance. I would have to leave my job, a small consumer bank in a non finance role that has no ib group. So I was wondering if it is worth focusing for the next year and a half to get the double major or if I should stick to my plan of doing finance w/ a minor in economics and stay at my job ( I make decent money for a 20yr old kid and I also have some financial responsibilities, but I can make a sacrifice if it is worth it.) Also, I'm not simply talking about what is going to make me a better IB candidate, I want to know what is going to help me out more in the long run (which i guess goes hand in hand.) I like getting advice from people in the industry because I feel my school's advisors just don't have the experience to give me a solid answer. Thanks in advance for any replies.
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...
Not worth it
could you elaborate, I'm also from a nontarget school
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.
you're right, I've done 5 classes while working 35 hours and have done well, so I figured dropping the job and picking up two classes offsets itself in a way.
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.
no, if I do the double major I would drop the minor.
Double Major or Master's Degree? (Originally Posted: 07/21/2014)
I am currently a sophomore and I have the option to pursue a double major or a master's degree from my school and still graduate on time as a senior. The master's degree is an accelerated process that I can complete in one year. I came in with a bunch of AP credits, giving me the flexibility to do this.
For a double major, I am thinking probably accounting. My other option is to get an MS in Finance, which has grad-level financial statement analysis, portfolio management and investments classes, etc. My school is a non-target, but US News Top 100. Similar to UDel, UMD, Ohio State, and UConn.
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.
To the above two posters, I wouldn't be pursuing an MBA.
It would be a regular MS in Finance, an extension of the undergraduate curriculum, similar to (but lesser-quality than) the programs like Princeton's MS Finance and Vanderbilt's MS Finance.
I still want to get my MBA down the line after a few years of work experience.
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.
I'd still go with the Master's over double major if I were in your shoes.
How much more is the Masters or Double major going to cost. In your shoes I'd just stick with one major and get the absolute highest GPA possible, unless your dual major is also CS.
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.
I would recommend option 3: do a single major in finance and get the highest GPA possible (incl. GPA boosters).
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.
OP here
If I do the single major route... does what I minor in really matter? Econ is an extra three classes, but I could fill that up with GPA boosters instead
Biased here but accounting definitely won't hurt you by any stretch. And it certainly isn't as hard as most people make it out to be. It's just a lot of work. It's the language of business and it certainly pays to know it.
Single major with highest GPA. Seriously no one in banking cares that you did a double major. Though if you did 3 years undergrad and then a top MSF at Duke/Vanderbilt then I would do that.
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.
Double Major or Major and a minor? (Originally Posted: 03/05/2008)
So I am currently in the prosses of trying to figure out if next year I should start working towards a double major, or if i should just minor. What im thinking about doing is double majoring in Economics and Business marketing.. but I've also thought about minoring in Mathmatics, i know that minoring in math is going to give me Alot better grasp on alot of the mathmatical stuff thats going on in Econ, and that i will be doing when i get into I Banking, but marketing seems like a fun thing to double major in, will it what i pick make a difference at all?
mathematical stuff u will be doing when you get into ibanking? oh you mean like, long division?
Not too much of a stretch to say that the decision facing you here will have zero impact on your career.
You may want to consider taking a couple of writing classes.
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
I plan on concentrating in Finance and Management myself, but I feel like completing and listing the double minor you suggest is both excessive and irrelevant.
You may be underestimating the importance of accomplishments outside the classroom, or perhaps even the social aspects of college in general.
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
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
Thats great advice from you guys. Thanks. But at least pick one of the three choices I suggested :). And with all honesty i like all the subjects I am choosing
Eeveryone's point was that it doesn't matter. So any one of them making a choice for you would seem to be arbitrary.
2nd Major in PoliSci: worth it? (Originally Posted: 12/20/2012)
Hi. I'm currently a second-year student at University of Chicago. I am for sure majoring in economics and am thinking about also completing the political science major. Would having the 2nd major in polisci increase my job prospects, not in solely finance or consulting but just in general? My parents told me that they think that unless I apply for public sector jobs or law school, it won't really make a difference. However, I've heard that there are a few polisci instructors who basically give all A's. So there's the GPA boosting factor as well. I just think some of the classes sound interesting to me, and I've noticed that with just another 8 classes, I can have a 2nd major in poli sci.
Also, On a side note, I've heard people, both instructors and students, say I can major in whatever I want since I go to UChicago. To what extent is this true? However, I think that's absolute bullshit because I've heard of students from UChicago, Harvard, Brown, and Dartmouth who majored in humanities and didn't find jobs upon graduation.
Jimmy Cooper was a PoliSci major and he got quite big in PWM, but then committed fraud....your choice.
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!
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.
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.
Just get a high GPA and pray to god your actually smart enough to absorb the technical quick enough where your not at a huge disadvantage vs the high GPA stem guy next to ya.
A degree in humanities at UChicago is not like a degree in humanities from Princeton or a top Ivy. I would stick to economics and focus on getting the best grades you can.
I've seen plenty of IBD analyst with U of Chicago Econ degrees. You're fine
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.
Double Math Major Worth It? (Originally Posted: 07/20/2016)
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