(UK) -Accounting at Target vs Econ and History at Target (I KNOW DEGREE DOESNT MATTER)
I go to a target in London(UCL) doing Economics and History however its incredibly expensive at 58k in total and im getting by, but need to avoid social and travelling to survive.
Im afraid that il come out the end of all that debt with no internship and a degree that is not practical or teach me any job practical job skills so il end up having to learn them from scratch in my own time by doing external examinations CFA etc. Keep in mind when im applying for internships, in order to stand out im trying to squeeze in learning technicals needed for IB in my own time, as well as learning for my intensive degree.
I could reapply (which will therefore be my 2nd gap year) and accounting and finance at a target uni (Warwick) which is nowhere near as expensive London. This will mean that I can still apply for IB internships as well as learn a lot of the in job practical technical skills for IB from my degree, aka financial modelling etc, since il learn a good amount of it or the fundamentals in the course.
If I come out the end of that degree with no internships, I know at least il have those job applicable skills, meaning if I decide to pursue CFA accreditations, a good amount of my work is already done due to my degree knowledge (as well as exam exemptions to some level) so I wont be learning from scratch for it, which I see a lot of people at targets studying History or Biochem end up doing.
This is partially the reason why IB doesn't care what degree you do as long as you went to target. Because if you did classics or history at a target they dont care as long as you can show that you have the technical know how ie DCF's etc. So wouldnt it be best to have a degree where you learn that rather than trying to squeeze in that self learning outside of your uni work?
Based on the most helpful WSO content, your concerns are valid, and your thought process is logical. Here's a breakdown to help you decide:
Degree Relevance vs. Target School Status: While it's true that IB doesn't care much about your degree as long as you're from a target school, having a degree like Accounting and Finance can give you a head start on technical skills (e.g., financial modeling, DCFs). This reduces the burden of self-learning technicals while juggling other responsibilities like networking and internships.
Cost and Financial Pressure: The financial strain you're experiencing in London is significant. If switching to a less expensive target university for Accounting and Finance alleviates this pressure, it could allow you to focus more on networking, internships, and technical prep without the constant stress of finances.
Internship Opportunities: Regardless of your degree, internships are critical. If you stay in Economics and History, you'll need to dedicate extra time to learning technicals and networking to stand out. With Accounting and Finance, you'll naturally gain some of these skills through coursework, which could make you more competitive for internships.
CFA and Practical Skills: An Accounting and Finance degree aligns well with CFA preparation and provides exemptions for certain exams. This could save you time and effort in the long run, especially if you don't secure an IB role immediately after graduation.
Networking and Target School Advantage: Remember, networking is key. Whether you stick with Economics and History or switch to Accounting and Finance, you must leverage your target school status to build connections with alumni and professionals in IB. Quality networking can often outweigh the specific degree you hold.
Recommendation: If the financial burden in London is unsustainable and you feel that Accounting and Finance will better prepare you for IB while reducing stress, switching could be a smart move. However, ensure the new university is still a target school and offers strong recruitment opportunities. If you stay with Economics and History, prioritize networking, internships, and self-learning technicals to bridge the gap.
Ultimately, the decision depends on your financial situation, ability to self-learn, and willingness to network aggressively. Both paths can lead to IB success if approached strategically.
Sources: Finance Degree Worth More Than Accounting Degree?, Accounting major, can't seem to break into IB, Two Internships Later: What I wish I Knew While Recruiting! (Toronto), Career in Finance - Reality or Reach?, In Search of Wisdom
The bot is essentially telling me to move, I got 2 weeks to make my choice....
Econ and History at LSE is a lot better than Accounting at Warwick.
Now it depends if the marginal rate of substitution of the added career prospects is greater than the price you are paying
Sorry I go to UCL not LSE, idk how much that changes things.
But you are right about your last comment, the issue is I am not really sure what the marginal rate of substitution will be.
IB is so competitive that its always the small marginal things that make all the difference (aka learning all the fundamentals in my course may give me a head start) and its effects will compound over time.
Oooh that does change my calculations a bit, EconHistory is the most competitive course at LSE and I assumed that it was the only one to do so in London, didn't know UCL did that.
I would be more learning to leaving considering the vast expense now. Its crazy how much you are being charged on top of living expenses
i personally disagree, yes you may accumulate a larger debt but how much more would it actual be? its not as if Warwick aren’t also charging ~25k per year. yes living expenses are a lot higher but if you’re aiming for the typical IB/PE roles and thats what your interested in you wont strugle to pay it off in the long term. Also if you are looking for the typical IB, UCL is gonna be a stronger name on a cv then warwick accounting
are you a first year student?
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