Whats the best major for investment banking?
what is the college major to take in order to prepare for investment banking math, finance, or economics??
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i think finance is best but math and econ will work as well....
there are cases of people getting into ibanking with many different majors, but I would say that finance, or accounting would be the best route if investment banking is your goal. However, I'm sure an econ, math, or engineering major should be able to beak into the field as well.
you just have to show you are mathematically competent aka analytical and quantitatiive.
Best college major for career in IBD? (Originally Posted: 06/03/2014)
Hey guys, like most college students on here, I am stuck at the crossroads of either majoring in accounting or in finance. What do you guys think? Which major will give me better job placement and the likelihood of getting into IBD? I do not go to an IVY league, so it will be much tougher.I go to a state school, but our business school is very good. I have a few friends who got hired at GS, BlackRock, and BoAML out of our school.
I have already had two internships at BoAML, so switching to accounting might not make very much sense now. The only reason why I am considering accounting is because of how much insight that it does give you on the understanding and analyzing of financial statements. I have yet to take a finance course (my school's program is set up weird), so I have no idea what finance is like.
just looking for some guidance. Thanks in advance!
Can you major in finance and minor in accounting? If not, maybe audit accounting courses which are relevant to financial statement analysis. Be careful with the accounting major, because it will give you a ton of irrelevant knowledge and it might not be viewed favorably by IB recruiters.
stick to finance and start networking with your friends at GS, BL and ML so they can pass your resume around. Trust the major is so irrelevant - I have seen so many kids with math,econ, english, spanish, history etc etc..... just get your resume to hr most of the times if someone refers you within the bank you get an interview for sure.
What would be the best 2nd major in undergrad for IB jobs? (Originally Posted: 11/13/2008)
Hi there, I'm just curious what focus of study in undergraduate is most valued by IB recruiters?
I'm currently majored in Finance, and I'm undecided whether I should pursue a 2nd major in Accounting or Economics, or should I just focus purely on Finance.
I know most of the stuff I learn in uni is going to be useless once I get a real job, but by all means if any of the above mentioned area of study is going to be relevant to the job least I'll be more passionate about the subject.
Cheers.
if you use the search function (type "major") you'll find about 100 discussions on this topic with varying opinions. Here is one:
http://www.wallstreetoasis.com/forums/does-finance-major-actually-help
I would do a minor in Accounting if I could do it over.
I would have done the same.
I agree, an accounting minor might be useful, but in reality you really don't need to overload yourself with work. Get a strong GPA, but more importantly try to acquire leadership positions on campus and some kind of work experience. Having too much schoolwork takes your focus away from other more beneficial uses of your time.
"Having too much schoolwork takes your focus away from other more beneficial uses of your time."
That is so true. But I wonder whether the banks would take someone with 4.0 GPA and some little leadership position on campus, or someone with 3.3 GPA but being a successful president/VP in at least three clubs and societies.
I'm currently taking my first class towards my accounting minor and I agree with"aloki" that it is an unnecessary workload. Its geared more towards accountants rather than analyzing, so financial statement analysis would be a better course.
There are a lot of things that I've learned from it, but continuing would prevent me from having time for internships.
Coming from a non-target, it is extremely difficult to break info IBD, which I am finding out right now.
If I could do it all over, I would probably double major in Accounting with hopes to get into a Big 4 firm in transaction advisory services. All the Big 4s recruit at my school, but I have yet to see an investment bank.
Most of the Big 4s seem to want Accounting or Accounting/Finance double majors.
Best Major (Originally Posted: 02/08/2011)
Out of Mathematics, Computer Science, and Physics, which 2 of the 3, or which 1 of the 3, are/is the best major(s) for recruiters looking to hire in investment banking, equity research, etc.?
Whichever one you can mostly like graduate with a 4.0 in.
all three are legit... just make sure you get good grades
math or comp science
Not to hijack this thread, probably relevant to the OP too. Will taking Engineering/Comp Sci pigeonhole you to S&T or quant roles to an extent? Will it disadvantage you in any way for IB? All this given good GPA and decent level of networking.
No, you're 18-22, not pigeon holed into anything.
the one you will have the highest gpa in?
As a guy who did math, I strongly recommend you do computer science. I find math way more interesting than both physics and CS, but being a strong programmer is perhaps the mostimportant skill to have, assuming you have the minimum quant skills you need. Math degree is complete overkill in terms of the quant knowledge, but it won't teach you to code. If you do decide on math, I recommend staying on the applied side. Do pure math only if you want to do a phd in math. With that said, if you are already a strong programmer or can be disciplined enough to learn it yourself, nothing beats a solid math education. It sharpens and stretches your mind beyond your limits and makes you an exceptional problem solver.
Investment Banking Majors @ Columbia (Originally Posted: 08/31/2014)
Hey, everyone! So, I plan on applying to Columbia University (and hopefully getting in) and then pursue a career in IB post-graduation. What I was wondering is, which major should I take to make me the most attractive in recruiter eyes? I am considering between Financial Engineering, Economics, and Mathematics. Could you guys give the pros and cons of each of these majors?
They are all good. Choose the one you would like the most to spend the next 4 years of your life on.
So, the major doesn't matter as much as the GPA? If so, that's a relief!
He didn't say that.
Those are all good majors.
I would pick Econ if you grew up speaking English and want banking (not trading.) You might also want to find a sport.
I would pick Financial Engineering if any of the above aren't true and you're good at math.
Columbia is an excellent school and has more in common with H/Y than the other ivies. Most of the students there were perfectly qualified for HYP but missed in the last stages of class building on stuff that was completely beyond their control. They deserved to get into HYP, but got rejected for something completely beyond their control. And then they're a short drive or train ride away from all of their friends who got into those schools while they study in Harlem for four years. I have a lot of respect for folks from Columbia and I've worked with some brilliant people who went there, but I think those four years have the potential to create some Louis Litt type personalities, too.
College isn't just about how prestigious your school is, but also about what kind of person you want to become. You can get into banking just as easily from Cornell or NYU as you can from Columbia or HYP, and when you land at Goldman Sachs or DE Shaw or Google, that's a bigger name on your resume than anywhere you went to school. Just so long as your college experience doesn't make you forget that, you'll have a perfectly good career no matter where you go to school.
But if it were me, I wouldn't have the maturity and discipline to not let all of that dynamic get to me at Columbia at my current age, let alone at 18. I'd have to choose a less prestigious school that was a little further away from the train lines.
Undergraduate Major for IBD (Originally Posted: 07/31/2012)
Coming from a non-target school, which of the following is the best double major combination for getting hired at a top firm:
Economics and Finance Economics and Math Economics and Computer Science Economics and Statistics Finance and Math Finance and Computer Science Finance and Statistics
(note: I am coming into my first year with enough credits to do a double major)
Don't be a tool. Any of those combinations will be fine, provided you can get a high cumulative GPA.
Finance and a 4.0
Networking is 10x more important than your major. That being said, a 3.8+ cumulative is a good start for any of the above combos.
Currently, I'm double majoring in Economics and Finance.
I would personally take Economics and CS since I prefer Economics over Finance (more stimulating for me) /CS is a nice skill you could use for S&T/Entrepreneurship.
However, keep a 3.7+ Gpa especially from a non-target.
Does this mean that a majority of the training happens in internships? If you scroll down to the finance vs non finance major section in the following article, it says it is in my best interest to major in finance?
Would you agree? Also, economics is not a major in the business school at my school so I do not take the business core classes.
Maybe transfer to a target?
Try to transfer to a semi or a target, but the first option will allow you to get the highest GPA.
Major in Finance ---> Ibanking? (Originally Posted: 02/14/2007)
Hello guys, I'm new here. An international student, gona study in the US this coming FALL.
Any recommendations on which undergrad universities is good for Finance? Is Indiana University (Kelley's School of Businses) good enough for I banking? I've a couple of other choices though, need some help here...
Thanks alot!
the Indiana school is great a school, but not as good as UT Austin or Stern school of business. If you can go to Penn though (obviously).
harvard, princeton, yale, penn, stanford. (not in any particular order). but, if you're looking at indiana, those schools are probably out of reach for you.
if you're going the public school route, UVa and Michigan also consistently have very good programs.
Best major (Originally Posted: 01/13/2012)
I am an undergraduate sophomore majoring in Finance. I am interested in pursuing a career in IB and I was seeking advice to determine if my current major is appropriate. I had a conversation with a buddy and he told me that accounting major have an advantage when it come to receiving jobs offers. Is what he said true?
What major is looked at more favorably in the industry: finance, accounting or economics?
quadruple-majoring in Science, Technology, Engineering, and Mathematics and then getting a 3.87 is your best bet.
You are a fucking tool.
Your resume needs to answer three basic questions.
1) Are you smart / a hard worker? 2) Do you have a serious interest in the job you are applying for? 3) Is your life well rounded?
Your major helps to answer questions 1 & 2. Any of the three are fine.
Best is to do what you enjoy. At least you will enjoy studying it, and hopefuly scoring A's.
No point doing a major that you dislike or one that is excessively difficult that makes you unable to get a decent GPA.
Political Science
Women studies or basket weaving will be your best bet.
Tbh, I've noticed that as long as people have high GPAs (3.7+) from a decent school, major is almost irrelevant. A decent amount of Columbia students heading to IB are Anthropology, Political Science-type majors.
Degree for a good job in trading or IB? (Originally Posted: 08/24/2015)
Finance, CS, Economics, or any other degree. I think CS with a minor in Finance would be fine, but I believe that CS will be dead by the time of graduation as everyone is learning to code as fast as learning to walk. I am interested mostly in IB, trading, or even possibly working at a hedge fund. Possibly even Finance with a CS minor? Much advice needed.
You're ignorant if you think CS will be dead by the time you graduate. CS enrollment continues to lag behind Mechanical and Electrical Engineering, not to mention incorporating a higher attrition rate due to students entering a CS major with false conceptions of what it is about. I suggest you don't major in CS because you will be one of those students. Anyone can learn to code in the same way that anyone can learn to perform algebra. I'm sure that means Math degrees were dead a long time ago.
Economics.
You're going to tailor your entire college experience for one of the most competitive fields to enter in the world?
If you are interested in traditional S&T, then your degree doesn't really matter. I have seen successful traders with degrees ranging from history to physics to mechanical engineering. Just make sure you know Excel/VBA by your summer analyst stint.
So finance is better than CS if I go to a local university or community college?
If you're going to a community you have such an abysmal chance of making it into a good IB or trading job that the difference your major would make is minimal. Bust ass and get to a decent school.
Best undergrad major for I banking/analyst jobs (Originally Posted: 08/20/2013)
I live in Michigan and would like to relocate to New York, Boston, or Chicago after college to work for an investment banking firm and was wondering which major to choose. I'm torn between Finance, Economics, and Accounting. Which major would be the best?
Also, would it be better to go to school in Michigan and move later or go to college out in the northeast? I don't have many colleges to choose from in the northeast except for the Umass schools or the CUNY/SUNY schools since I don't have the creds to go to a place like Columbia. I have a slim chance to go to Northeastern but that's it.
Thanks!
By the way, if you wanted to recommend any colleges that I could get into out in the northeast with a 3.5 GPA and a 26 on my ACT that would be much appreciated.
Dude, you have UM right around the corner. Excellent education, top notch sporting events and an awesome social scene. Their business school ring a bell? What more can you ask for? The best part is you'll be paying in-state tuition. No brainer.
I don't have the credentials to get in there. Most of their applicants have way higher ACT scores and they probably have higher GPAs.
You can't say until you've tried. I know a guy who got rejected twice by his dream graduate school ( a master's at Oxford law, which is extremely selective), although strongly discouraged he opted to reapply thinking third time would be the charm, he got rejected, it was expected after all, luckily this time he submitted his application to a bunch of other universities, Harvard Law School included. He got in, his first reaction was: "Fuck Oxford" :) The most accomplished theoretical physicist of our time was accepted at Princeton for his PhD despite his major being in history, his maths being self taught and his age older than average. Just try.
A very wise and smart man (http://en.wikipedia.org/wiki/Terence_Tao) once said: It doesn't matter where you study, all that's important is who you study with and how much passion you hold.
I'd take economics and study some finance, get a certificate or the electives if your school allows it. Still, by myself Stony Brook Suny has a great department of applied mathematics.
Yeah they have an econ department, they are ranked 39th, however it's a mixed public/private ranking, if we were talking about public only, they'd probably be 10th maybe 12th?
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