Help a youngster - Sorry if this is the wrong forum
Believe it or not I am a senior in high school. I'll most likely be going to a non target, but good, school (UF). I am interested in the field of investing and finance and I feel strongly about my ability to learn the trade. I have a 4.0 GPA and high SAT scores etc. At this point I already know I want to pursue an MBA post-graduation, and obviously the better the school, the greater opportunities. I do not necessarily want to work on Wall Street, but I would like to have a good job eventually or at least pick up some investing tips for my personal portfolio. I am extremely interested in investing in stocks (although who isn't?) and thus want to learn about it for my own benefit. Ideally I would be an investment banker, stock broker, financial advisor, CFO, anything like that.
I know it is very possible to get into an M7 program from a state school, so I am going to try to do that. My issue is what to major in. I need to decide between finance and economics (BA). It is impossible to double major.
The reason I am having trouble deciding are the pros and cons of each. Assuming that with either major my gmat score is the same, I do not know which major would provide me with better chances for MBA admissions. I am greatly interested in both fields.
I have heard that economics is favored in MBA admissions over business (Finance is a BSBA - FI at UF). Also, it seems that economics might be easier to get a high GPA in. And if I throw in a bunch of math classes I could be well-off. However, it seems like when it comes to economics the job opportunities straight out of college are not nearly as good as finance. I like economics for the fact that it is not a business degree.
Finance is slightly more directly related to my interests and what I want to learn about. Finance may be harder; therefore giving me a lower GPA, but the job opportunities are excellent. The business degree aspect might not be favored for admissions though?
So I do not know if the degree bias in favor of economics or the superior work experience I will get out of college will help me get in easier. I understand this is a very hypothetical and somewhat irrelevant subject, but I need to decide. Major in finance for the job recruiting (work experience = good) or economics for the other factors? Or perhaps an economics degree from the college of business (BSBA - EC)?
Thanks.
if you have a 4.0 and high sat... go to the best school if you.. if your a good student study what interest you... focus on college and have fun.. then get an internship then a job.. your maybe 10 years from mba.. dont sweat it
and no i believe your a high school student
UF is a fine school. Do the Undergrad - Finance / MSF track (Combined Degree, current University of Florida students taking undergraduate and graduate courses simultaneously).
You seem motivated and intelligent enough to finish the undergrad requirement in 3 years and complete the graduate level portion (1 Year) in your 4th year.
You will have more exit opportunities with the finance/MSF degree. Most of the higher-GPA MSF candidates go work at BBs in banking, research, or S&T.
http://warrington.ufl.edu/fire/programs/msf/
Do you suggest doing the Hough finance combined program and then seeing where I stand and pursuing an MBA from one of the Ivies etc. eventually? Or is the combined program at the University of Florida perhaps enough to be competitive?
Thanks.
I am suggesting the latter. The combined degree program (MSF) will likely provide a better opportunity for you to work in investment banking or trading.
The type of MBA program you want to pursue will require 2-4+ years of work experience. Don't worry about the MBA now; focus on getting the highest GPA possible, while still enjoying college and going out. Work for a few years and then look at an MBA. You may get into Sales & Trading and realize that you don't need it.
Trust me -- Don't worry about the MBA right now.
You're in the right spot bud. Congrats on a solid HS career and UF's not the best school but there's plenty of alum on the street and your girls are fucking smokeshows so take advantage of that equally.
A really quick snapshot/starting point in pursuing a finance career out of undergrad is as follows:
1) Trading/"stock market stuff" would generally fall under the sales & trading portion of investment banks. They maintain the markets if you will. Typically if you want to be a career trader/hedge fund/asset management/prop trader/portfolio manager this would be a good place to start. The nature of this business is becoming exponentially more analytical so I would recommend looking to be a Math & Econ major instead of finance and taking prereq's for the MSF program to tee you up for the financial world.
2) Primary markets, m&a/banking/raising capital/advisory/restructuring/corporate finance, is kind of generally referred to on here as investment banking. Making markets if you will. These jobs are the 100 hr a week jobs you here about and are heavy on accounting and finance and should be your major if interested. The idea is, again generally, to leave after 2-3 years as an analyst and work in Private Equity/Hedge Funds/much less Venture Capital. Although this gig is analytical as well but very high level math is not very useful, so a strong finance GPA should suffice.
The above is VERY general and many terms you'll come across will vary from shop to shop so don't worry about getting the whole thing down in one sitting.
IMPORTANT READ: Bottom line, your very far ahead of the game just taking this stuff into consideration at your age, but don't stress to hard now. I'm going to tell what to do, and it would behoove you to listen:
1) Enroll in the business school (honors if possible) and take some math/econ courses and get a feel for what your better at/passionate about. Talk with as many professors and people working in finance as possible before you declare your major.
2) You're a good student so I don't have to tell you to crush your grades.
3) Bang as many chicks as possible. Well at least talk to them and got to some parties. In school don't get bogged down by your studies so much that you feel like you cant have fun and equate a fun time to bowling at the student center on Saturday nights. Go with a friend you trust one night and get hammered at frat party or whatever. Developing a good social skill set is just as important as your analytical one as you'll need to network latter on. Plus UF has so many hotties it's nuts so don't miss out, cause you will when your next to Amir & Cindy Wu for 100 hrs a week in an analyst pit instead of Lindsey and Stacey drunk at the football games.
competitive enough to do what?
One day at a time young one. What i "knew" i was going to do at 18 was far different than what I knew at 22, which was far different than 25, etc. Keep your eyes open and enjoy college.
MBA is, and should be, a long way off. Who knows what the market will look like then or what industries will be hot.
Thank you for the generous advice. I will work hard and attempt to get in to the prestigious MSF program as a sophomore(25 admitted per year or something? It's got an average GMAT of around 690 also I think.). Or it is possible that I am mistaking that with something else and the combined degree program is actually easy to get into; I'll have to research it. I feel very good and a little anxious right now. This account was opened on the forum today and I already feel warm. "Taking advantage" of all UF has to offer is definitely something I agree with too.
sent you a pm
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