Is majoring in economics really necessary?
Hi everyone,
I’m a dual majoring in Econ & History at a target, and I’m wondering at this point if it even makes sense to continue majoring in economics. My university is very well regarded in economics but our history dept. is also very well-regarded as well, and I’m not really worried about impressing anyone except for potential employers.
I’ve already wrapped up summer analyst recruiting and am doing well on techs, so at this point, econ is starting to feel duller and duller whereas I have a much more genuine passion for history. I think I could handily graduate with a very high GPA in history if only I didn’t have a second econ major distracting me. So ultimately I have two questions:
1) Would my employer (large fundamental hedge fund) care about me dropping the econ major assuming I receive a return offer? Already sent my transcript and would likely have to do so again to confirm FT offer.
2) Down the line, does undergraduate major even matter? Like if/when I transfer jobs out of my post undergrad role, would not having an econ degree hurt my chances for other HF/PE roles Also, would it make a difference for MBA admissions?
Thanks for any advice.
Nuanced topic. Yes and no, if someone over there has taken a liking to you, they might keep you. Or they might ask you why you dropped from Econ and depending on your answer come to a conclusion. There is no strict rule that only finance-related majors get hired into HFs, it was more like an unspoken understanding, that is the reason why funds like P72 and others started diversity programs, to encourage people from diverse educational backgrounds. I know people with Chem, Music and Fashion majors who got into nice firms, then again, a Chem major might come in handy when evaluating a Chem, BioChem and Pharma companies, a music major might help in adding context when working on music related businesses (UMG, SPOT, TME etc.) and the same goes for Fashion majors. What do you bring to the table? If I were you, I’d be working on some kick ass pitches to show some skills. Good Luck
At least here in the UK, it's been established over and over again that subject doesn't matter, only uni brand name does, and I'm sure it holds true across the pond. Always do/ study what you're passionate about
Above author is right. Going to a target is much more important than degree studied. Study what you're passionate about (I know it sounds wishy-washy). As someone who studies Economics at a Target and interned in IB, Economics is virtually non-existent in IB, especially when your first 2 years is about Powerpoint formatting etc. There's a small amount of Microeconomics concerned in structure of a client's business but that's nowhere near the level of Economics studied at University. For a Hedge Fund, it may be slightly different given your role is a lot more Macro/Quantitatively based but I don't think it will be too much of a big deal. Lastly, studying a non-Econ degree does have some merits, have worked with people from scientific backgrounds (Doctors and Engineers) in Finance as well as History, Linguists and Classics students who think a lot more differently and efficiently, at the end of the day your degree does not matter as much.
i was part of those finance clubs where we 'analysts' released research reports, and I could visibly see how the econ students all thought a certain way, and the history/ psychology students had a refreshing way of thinking
'Equity Research Analyst' @ Clio/Student-run cashless investment fund
But I agree, to some extent that just studying Economics/Finance is a bit homogenous and doesn't really stand out. It's good to have some diversity of thought, I've worked with Bankers who were qualified Pharmacists, Doctors, Engineers and you do really get to pick up how they think differently.
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