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To be honest,a lot of people have no idea what finance is, and that's because people don't care. For them economics=business=finance,that's it. I really hope that finance as a major does not become popular, and fucking companies stop outsourcing jobs to engineers and lit. majors from ivies.
No offence,I really hate people who are graduating with degrees unrelated to finance/economics, and suddenly want to work in the finance industry.Fine, I get it, you got your master's in finance but it just shows that there isn't any value in a finance degree anymore.
I don't think the industry is overcrowded,it's just really competitive just as in the engineering industry and software/hardware industry and that's good because competition raises quality.
Also fuck b-schools who accept students with NO experience in finance,just fucking stop it - OK? I don't give a shit if Mr.Yujhskfh from Iceland started an NPO to save baby turtles in Hawaii and was an actor on some stupid musical,I'm pretty sure he has nothing to contribute with to the class and don't tell me he's "well rounded" FUUUUUUUUUUUUUU.
I'm sorry but I really believe that bschool standards are starting to get stupidly high, and probably expect from every single candidate to have his own business/NGO/NPO/Start-up or whatever.
/rant over
I can understand being upset over being passed over for a job in finance in favor of an english major from Yale because the bank figures they can just educate the him. However, I think technical majors prepare pretty very well for a lot of the functions in finance, especially when you supplement them with a couple of finance classes or extracurricular study. I figure if you are a non-finance major and you take the time to learn a lot of the skills and information necessary to do the finance job (whether it's IB, S&T, IM, etc.), then that's fine. It just irks me when someone who knows very little in finance gets a job over me because they go to a "better" school and have a better gpa because my major deflates gpas and theirs inflates them.
The industry is obviously crowded, but think about it from the interviewers perspective. You can take a finance major who obviously knows the finance stuff and has studied the material outside of class too, or you can take a mathematics, physics, or computer science major who has taken the time to learn all (or most) of the material that relates to the job. You get 2 in 1 basically: you have someone who knows the material for the job, but also has experience with higher mathematics, science, or programming, so they may be able to offer additional insight on technology or chemical companies. I'm not trying to shit on finance as a major (I really hope it doesn't come off this way), but I can understand why a firm would want a variety of majors to provide a diversity in the way their employees think and approach problems.
As someone who interned in a boutique IB then went through the SA recruiting process, I don't think firms hire analysts for their "additional insight" on whatever industry - from what I saw, I feel like analysts are hired just to do all the stuff that senior bankers can't be fucked to spend their time on (formatting PPT, PIBs, marketing material, virtual data room, etc.). Yes, there are a couple exceptions here and there but majority of the time, all your major is really useful for is to back up your story - for a finance major that's pretty straightforward, for a CS/Biology major it can help for expressing their interest in why TMT/Healthcare, not that his or her major will add much value as an analyst.
With that said, I do agree with why STEM majors may be viewed favorably, especially in context of banking recruiting - mainly because those majoring in engineering likely spent much more hours than their liberal arts peers doing lab reports, pulling all nighters for exams, and bankers would like to have analysts with that kind of work ethic and determination. After all, the stuff you do in investment banking is not rocket science - bankers just want analysts are can and are willing to burn the midnight oil.
Both of you suck
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