What is Finance like during undergrad and B-School?

What is it really like to major in finance in college? From your personal experiences was it hard, manageable, easy for you guys? Any tips for a prospective finance major will be very helpful.

 
financewhizkid:

Just don't do engineering, that's hard ahahahaha

This. Made this mistake in undergrad. Corrected in B-School.

Still not sure how I had the grades to get into B-School from Engineering...(and talk about NO social life...)

Director of Finance and Corporate Development: 2020 - Present Manager of FP&A and Corporate Development: 2019 - 2020 Corporate Finance, Strategy and Development: 2011 - 2019 "An investment in knowledge pays the best interest." - Benjamin Franklin
 
Best Response

It's like waking up EVERY day after 4 hours of sleep to go to class pissed off and hungover because you and all your classmates failed your corporate finance test. Obviously the professor doesn't understand that nothing he taught was actually on the test. Then it gets even better when he wants you all to consider switching to an "easier" major like marketing. After that pleasant conversation the rest of your day includes taking a nap in your management class, going to the bloomberg lab to apply to 100 jobs you'll never hear back from, stopping by the dean's office to blow him for a recommendation, and going home to start drinking. Rinse and repeat.

 

I majored in Finance in UG and am now completing business school. Work is easy, much easier than Engineering as mentioned above.

B-school is just a repeat of everything you already learned as a Business/Finance major, maybe diving a little deeper into profession specific topics based on which electives you take, but even those don't go too far. I recommend participating in an applied portfolio analysis course if you can, creates a habit of keeping up on the markets.

 

you will f**k up in your derivatives class, i guarantee it

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.
 

My experience:

There's a number of VERY easy classes in b-school that aren't worth your time (intro to equities).

There's a number of very easy but group-project dependent classes that can fuck you (mgmt / marketing).

There's a few hard classes that are often hard because of the professor that will end up taking up the majority of your study time (advanced macro / micro or intermediate accounting / corporate finance / derivs / econometrics).

At my school we also had to take engineering calc 1 & 2. And some easier liberal arts stuff of course. Finance was also usually part of a double major (with econ and accounting most common).

Overall - a lot of it isn't really valuable (though a lot certainly is) vs. the stuff you do in your spare time (interview prep / investing club / work experience).

I would dismiss those who say it's "easy" though. Really depends on the school.

 

Villanova. I would rec Nova all else equal. If you think Fordham gives you more NYC Street Cred than Villanova you are wrong. Nova B-school ends up being 50%+ NYC area after school but stands out more on a resume. Have friends who did the Fordham thing - solid overall just don't expect a "high finance" job (don't even assume at Nova either).

 

speaking for undergrad, you might find your school is a little slow with the pace of subjects (what I mean by this is that years 1 --> 2.5 might be all liberal arts classes / core) which means during interviews you may have less finance exposure than competing peers. so, figure that on top of classes for your finance major you may be self-motivated enough to get finance exposure on your own. there's a few companies out there that produce that kind of material

 

This depends - I went to a 4 year undergrad B-school (which is uncommon). Just really means you start in the B-school and take a good mix of classes all 4 years. I took intro to European History my Sr. year.

 

You will HATE Inter/Advanced Accounting. You will LOVE not having to do non-stat based math past Calc 1. You WILL learn how to drink watered down beer as a way to cope with said Accounting class. All in all UG is a good time, learn to balance your schedule early and it will pay dividends by the time you are a senior. Get to know your professors (Corp Fin/Derivatives/Capital Markets/Etc.), they've more than likely worked in the industry and are probably your first "non-family" connection to landing an internship/job.

 

Kind of already mentioned. Compared to other real majors like STEM programs its easy but it is harder than Gender Studies or whatever fake degree programs colleges are pushing these days. Also, accounting will make you want to reconsider your career path.

"That was basically college for me, just ya know, fuckin' tourin' with Widespread Panic over the USA."
 

If you are into it then you will enjoy studying it. It is not too difficult, however, it is going to require effort. Take your accounting, econ and math courses seriously. It is fun watching the non-finance majors (management/marketing) struggle in the intro courses. Also, remember it is never to early to start studying.

Only two sources I trust, Glenn Beck and singing woodland creatures.
 

It can be slightly difficult at first, especially in the intro finance class, because you are seeing the material for the first time. Add that on top of the fact that you just finished your first accounting class that you barely understood and things can get a little complex. My school had free tutors for the core business classes that everyone had to take, so I would check to see if your school offers anything like that. Also, I would join the investment club at your school, as most of the juniors/seniors in the club will be the TAs for the finance classes, and can help you in case you are struggling. There is also investopedia, which will come in handle when your brain is doing gymnastics trying to understand the relationship between NPV and IRR.

After understanding the basic concepts in the intro/intermediate classes, the theoretical stuff is very easy, the information becomes more qualitative, and the math never goes beyond basic addition, subtraction, multiplication, division.

The fool thinks himself to be a wise man, while the wise man thinks himself to be a fool.
 

At my school, business majors were required to take intro versions of calc and stats. I would say calc you never use, and small things in stats are used (std. deviation). So I would say the difficulty of going past the intro calc and stats courses outweighs any potential benefits it may provide, if any, given when you get to the real world all your math is done by your BFF Microsoft excel.

The fool thinks himself to be a wise man, while the wise man thinks himself to be a fool.
 

My experience went as follow:

-Don't open books for first month and a half. -Spend 16 hours a day at library for two weeks doing practice tests and cramming for midterms -Don't open books for about a month. -Spend 16 hours a day at library for two and a half to three weeks doing practice tests and cramming for finals.

Managed to get decent grades with this formula.

 

stuuuuuuuuuuupid. I studied a lot of stuff in college.. Finance was the most useless stuff I learned and I work at a hedge fund. Evaluate the faculty of the department and decide if they are the people you want managing your money. If they all hold 50% index funds, some mutual funds, cash, and a little gold... they probably don't know shit about anything.

Overwhelming grasp of the obvious.
 

Absolutely useless. But so were my professors. I got one 400 level professor to admit to the class he had no idea what he was talking about and fried another for thinking that projecting growth rates and other things out 10 years is a realistic proposition. It really just depends on what "school" of finance they come from. If they are from the efficient markets school just disregard everything they say and/or embarrass them ruthlessly, as you will when you move on to pillaging the markets. A lot of what they taught was just plain wrong.

Now if your finance professor is Bob Shiller or Van Biema that's a different story.

Overwhelming grasp of the obvious.
 

finance is easy, espcecially if you seek internships that increase your interest in the subject ... my uni required data analysis classes to get the finance major and that was very very painful. I can literally cry on command when thinking of the struggle

What concert costs 45 cents? 50 Cent feat. Nickelback.
 

Finance can mean a lot of different things.

In undergrad, the finance courses at a typical state school like UIUC are fairly straightforward.

In a research PhD or MFE, finance can be incredibly complicated, at least by the standards of a state school engineer. Many Finance PhDs or MFEs are STEM undergrads.

Are you learning how to use a financial calculator, or are you learning how to derive black-scholes? NPV is easy, the Girsanov Theorem is hard.

 

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