Econ or HOD major?
Hey monkeys! I am an incoming Vanderbilt student planning to major in Econ and minor in business and data science (many courses overlap).
However, I am quite intimidated by the accelerated calc I & II courses which is why I am concidering the «standard» track which would prevent me from doing a PhD in Econ.
Therefore, I was wondering: 1. What is the utility of a BS Econ degree and is a phd recommended for PE or high level corporate finance? (I am not interested in persuing akademia as a career) 2. How useful can the data science minor be in terms of qualification for consulting, PE and IB?
Thanks for any input
Based on the most helpful WSO content:
Utility of a BS in Econ and PhD for PE/Corporate Finance: A BS in Econ can be a solid foundation for careers in consulting, private equity (PE), and investment banking (IB), especially if paired with strong grades, relevant internships, and quantitative skills. However, a PhD in Econ is not typically necessary for PE or high-level corporate finance roles unless you're targeting highly specialized areas like economic research or policy-driven roles. For PE and corporate finance, the focus is more on practical experience, financial modeling, and strategic thinking rather than academic research. If you're not interested in academia, a PhD might not be the best use of your time.
Usefulness of a Data Science Minor: A data science minor can be highly valuable for consulting, PE, and IB. It equips you with skills in programming, data analysis, and quantitative problem-solving, which are increasingly sought after in these fields. For consulting, it enhances your ability to analyze and interpret data for strategic recommendations. In PE and IB, it can give you an edge in evaluating investment opportunities, building financial models, and understanding market trends. Combining this with your Econ major and business minor creates a well-rounded profile that aligns with the analytical and strategic demands of these industries.
If you're concerned about the accelerated calculus courses, consider the standard track and focus on excelling in other quantitative and analytical coursework to strengthen your profile.
Sources: Economic Consulting Q&A - Past experience at major firms, Economic Consulting Q&A - Past experience at major firms, Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst, To all Consultants considering PE, European Private Equity Associates backgrounds
Brother, this is the real estate forum. You don’t need a PhD in Econ. You need to be a B student (C student honestly works, depending on your speciality) who can hang out with guys and pull women.
This is 25% satire and 75% reality.
This is real estate - it isn't rocket science. Yes, some firms get stuck on your pedigree - university, degree, credentials, etc.
But in reality, to have success you just need to:
Show Up.
I'm still amazed (and fascinated) by how many people don't show up for work everyday. I've had to deal with Analysts that consistently come in hung over from excessive drinking the night before to Managing Directors that are on cruise control in their careers and aren't willing to learn or change in the smallest ways. Just showing up for work day in and day out and putting in the effort goes a long ways.
Think Independently.
Like I said, real estate isn't rocket science. But you do need to be able to think for yourself. Basic algebra and some common sense go a long ways. Never assume what someone tells you is always the right answer - think for yourself and come to your own conclusions with support.
Get Along with People.
This should probably be #1, but be friendly and curb your asshole nature, as best as you can manage. Be able to generally get along with people. Learn how to talk to people. Learn how to listen to people. Learn how to build relationships. Give more than you take. Don't start drama. So on and so forth.
HOD. I did econ and the hod kids had the exact same career outcomes but didnt have to sweat through my BS econ theory and econometrics/math classes
Disclaimer: didn’t go to Vandy.
I see a ton more HOD majors in finance. Take that for what you will.
I went to Vandy. Do economic history. You won’t need to worry about higher level calc. It’s more writing focused than math - but still sense economics and people reading your resume for jobs won’t know and really won’t care. I chose an economic history major because I’m pretty bad at math but wanted to do something that ‘seemed mathematical’ because the economy was sh*t when I was in school and employers always pay for math students.
You don’t need a PHD for a business career.
Est amet delectus eveniet quo molestias. Adipisci blanditiis voluptatibus et omnis. Ab perspiciatis at aut nihil ad est mollitia. Et voluptatibus repellendus corporis ut. Occaecati aut aut incidunt necessitatibus voluptas. Odit vel quaerat maiores fugit quisquam.
Aliquam ab qui accusantium cum mollitia in. Fuga repellat architecto magni voluptas. Porro quaerat maiores at maxime libero qui. Praesentium fuga est minima reiciendis quas est. Id consequatur reiciendis commodi aliquid natus cumque. Architecto facilis repudiandae dolorum nihil natus qui tempora.
Quod quibusdam sed ut rerum. Sed illo et tempora consequatur. Repellendus voluptas qui ab.
Dolores qui id molestiae incidunt animi saepe. Hic explicabo amet dolores quidem delectus consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...