I just remembered how many statistics, python and VBA extracurricular classes I took because a lot of bankers prefer people with those skills over traditional finance graduates. I was told it would make you "quicker on the job" and "automate repetitive tasks" and thought I would be seriously behind my peers because I did not know how to run a fucking Monte Carlo Simulation or could not use Numpy.
I finally made it into banking and all of these skills are useless on the job and I just realised I wasted a whole lot of money and time learning them when most of what I am doing is making Powerpoint Presentations, updating financial models and listening to earnings calls.
I remember regretting studying Finance and wishing I studied Engineering, Math or Statistics when I could only get a big 4 audit offer and my peers with STEM degrees found it easier to break in.
When I was in Big 4 Audit, I was still grinding to learn all this shit until I hit my desk at my bank and realized all you need to know is basic finance to do a good job, no one is going to ask you to reprogram Excel on your banks computer to run more efficiently and good luck getting IT to grant you permission to do ANY programming on their systems.
I saw a job posting for an entry level IB job and it had a preference for STEM degrees yet again alluding to the potential person being hired needing them on the job for some reason.
This is because the gatekeepers of investment banking do not know what investment banking is. They do not take the time to find out what bankers do on a day to day basis. There are so many people who think IBD is a cross between rocket science, wolf of wall street and a think tank. In reality, it is excel , PowerPoint presentations and clerical work. There is nothing wrong with that but that is not everyone's cup of tea. Working 80 hours in something you love in an environment you love could be awesome. But if it is not something you are into, it could be hell. Hiring and engineer for banking is like hiring a chemist for a paralegal job. Yes the stem major is smart but may not be the right fit for the job. What also upsets me is that the recruiters build up banking to be this glamorous version of NASA to get the "Best and the Brightest", but they should be focusing on getting the best fit. If you are a stem major that knows the the realities of banking and is still interested in that career, by all means go for it. But lets stop pretending that banking is this complex job. It is interesting, but the basics in finance, accounting, PowerPoint, Excel is needed, not a 4.0 in organic chemistry.
Maybe make the dots smaller next time they're a bit large in this pic