Incoming Yale undergraduate student... Interested in working in finance/Wall Street, but unsure...
Hi all,
I was blessed to be admitted to Yale University, and will be attending as part of it's Class of 2024. For me, something I've always valued is long-term planning, and as I leave high school, I'm interested in how I might prepare myself for my future. I have a definite interest in working in the finance sector or on Wall Street, and have a few questions for WSO.
Firstly, I'd like to introduce myself. I've been a top student during my time in high school, I believe, but what I am most interested is strategy, as well as soft/people skills. I've always been a big sports nerd, but what I am most into is the strategic side of sports (i.e. roster construction, drafting, navigating the salary cap, contracts, etc.). I am decent at math, but not quite good enough IMO for FAANG CS or quant.
Now for my questions. If I choose Wall Street, what sectors should I be targeting for internships/first-year-jobs? I know a conventional path is to work in investment banking and then leave for the buy-side, but I've also read that it may be possible to work in private equity out of HYP undergrad. So my first question: Would that be an advisable goal, and how would I be best set to achieve it?
Secondly, what are the best sectors of finance to work in overall? I would say presently my biggest interest is in private equity, but what sectors, in WSO's opinion, is the best? (leadership, compensation, hours, etc.)
Third, (and I am fully aware I am risking igniting a flame war here) - would it be advisable in 2024 to choose a career in PE or other finance over quant or FAANG CS? I come from an Asian household, and so my parents definitely idolize CS to a degree. I am not so interested in that myself, but in a vacuum, would quant or CS be more advisable?
Thanks in advance.
Congrats on Yale.
With all kindness - take a breath. You have time. Take some intro classes and see what you like. As a freshman, you can get internships at small boutique-type places for the summer, but real recruiting won't kick off until sophomore year so you have a lot of time. PE is achievable out of college, but a lot of people advise against it since even the largest MFs don't have training programs anywhere near as strong as the top investment banks.
Careers are very long, if you do CS because your parents tell you to and you don't actually like it, you will have a very unhappy next 40 years. Pick something you will be successful at. Don't just pick CS, or even PE, because your parents or the internet told you it's prestigious. Spend freshman year figuring out your interests.
The sports jobs you are describing are head of the front office or a team owner... so those are not very likely paths. There are folks who do sports data for teams, but the pay there is pretty slim since everyone wants to work in sports.
Check out Raine - tons of Yale presence there.
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