Finance Major, first year in college, tips, etc?
Hello,
The reason why I am posting in the Mentors' section is, well, because I need advice. I will be a freshman, majoring in Finance, at California State University, Los Angeles. My goal is to one day work on Wall Street, working for some of the biggest and most famous firms. One of my problems, is that I don't know where to go with my Finance degree, what could I do with my degree, what could bring in the most money? Because I really hope to be succesful enough to buy my parents a nice home one day.
My other question is what could I begin reading or begin doing in order to get the leg up on others studying Finance, as well? What could I begin doing in order to get noticed, especially way out here in LA? Because I know that my university is not that well-known or prestigious, I will eventually transfer or begin my graduate studies in Chicago or New York, so I know I will have to work that much harder, just to get noticed here in LA.
My final question, well more like favor I am asking, is do you have any tips, strategies, advice, suggestion, etc, that you think will help me become succesful in the Finance world?
I am NOT working at Wall Street, so take my advice with a grain of salt. Recommendations in order od priority as below
1) Maintain a high GPA >3.8 , take Accounting Classes at least till intermediate level and study Calculus till 300 level, just in case later you want to go in Quant Heavy Roles
Also try to transfer to a target university in your junior year, if you follow all the advice I have given it will be easy. List of target universities have been discussed on WSO infinite times.
2) Extra curricular Activity -Try to get leadership role in at least one club/society of your choice , more innovative extra curricular are always a plus like starting your own club, NGO etc.
3) Networking is the key - Buy the networking guide at WSO and than network like Ninja. lol . Cannot stress the importance of networking. If possible start attending informational sessions at other colleges.
4) Internships - Every summer and winter break you should finish at least 1 internship in a finance related role. Even if the internship is unpaid. Try to impress your boss as he might be able to provide you with great recommendations and connections. There are a lot of ways discussed on WSO for getting started for interships.
5) Take time to read the FAQs and previous threads on WSO. They are gold mine for a prospective monkey.
6) In your final year register for CFA level 1 and clear it.
7) Read some of the books on finance which will give you an insiders view on life in finance.
//www.wallstreetoasis.com/forums/best-book-to-read-while-on-a-long-flight
8) Enjoy your time in the University and chase pussies. You will never get the opportunity to score so many pussies ever again.
Good luck!!
^ well said
It'll be nearly impossible coming from CSULA to get the type of job you're looking for. Gotta answer financial's points:
1) YES get above a 3.8, NO do not take all the calc classes to the 300 level. If you do that, the maths majors are going to buttfuck your GPA down below a 3.0 since most classes are graded on a curve -I'd get a 4.0 this year, get involved on campus if possible, and try to transfer somewhere better immediately. The UC system would probably be best, they do say that most transfers come in at junior level but it's definitely worth trying now: http://www.universityofcalifornia.edu/admissions/transfer/requirements/…
2) Agree
3) Agree, but since it's your freshman year this should take a back seat to making absolutely sure you get the best possible grades and are involved on campus
4/5) Agree
6) Depends on the job you want. If you're going into an investing-related area, CFA will help. If you want to do i-banking, CFA will not help at all.
7) Agree, reading books about the industry/field (not technical books) is the best way to find out what interests you.
8) Get some.
^^^ All the points DM has raised are correct.
1) Math - Only get into higher level Maths if you have high level of confidence with Math and are willing to work hard. 2) Networking can be done later, after you finish your sophomer year. 3) Earlier you transfer to a Target University better it is. 4) In the next 2 years , you should be able to figure out which high paying finance jobs interests you the most and accordingly decide if CFA is beneficial or not.
Also I want to point out that if you want to get into trading, earlier you start preparing for it, better it is.
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