What to major in now that the economy is bad
Hi everyone, I'll be applying to college this fall, and I really want to do investment banking. However, now that the economy is in the shitter, banking jobs will dry up right? Add to that the advancement of machine learning, is it still smart to major in econ/business/finance for IB? or should i major in stats/cs so I have a backup plan in case there aren't any jobs in IB in 5 years. My parents REALLY want me to do CS, because my dad is in it and he's pretty high up and well connected in silicon valley. Thx.
You're a junior in HS? Way too early to worry about graduating into a recession. No one knows exactly what the economy or M&A will look like in five years, but it will presumably be just fine. Most likely will be in an economic recovery, but again, no one knows -- I'm speaking out of my ass. Regardless, there will still be IB jobs lol.
You should do CS if you have any interest in it, because it will give you greater flexibility should your interests change later on. You can easily go into IB being a CS major, but it’d be almost impossible to get into SWE right out of college being a Finance major.
The short-term trade-off is that CS classes are harder, so you’ll have less free time than if you’re a Finance major. But the long-term trade-off is that IB works much longer hours than most SWE jobs, so you’ll have less free time as an adult.
As a Finance major who just got a job in technology, I strongly recommend you study CS. I find it more interesting in my short experience, although of course I’m biased.
LOL is this a joke???? If you like CS/Stats and your dad is well connected in the valley then why would you want to get raped at 9 pm on a friday by a 50 year old MD who doesn't give a fuck if you die in the next 5 minutes, work 75-85 hours a week in an office surrounded by outdated technology and work alongside people who only care about you for your ability to work like a glorified slave.
You could work 50-65 hours a week, wear sweatpants to work and be surrounded by the most innovative people in the world , the beaches and good looking women on the west coast. Also guess what since you're smart, that degree in CS/Stats is only going to prove to be more useful as automation and AI continue to grow , the need for quantitive skills become increasingly more important and you can leverage your dad's network to get into a lucrative position to potentially join a late stage pre ipo startup or become the founder of your own VC fund.
I love finance and I don't regret majoring in it but even in this virus, tech companies like zoom are making a killing right now. The finance industry isn't dying and I doubt it will in the next 10-15 years but the tech industry will virtually never die. Innovation continues to exceed previous expectations, automation and AI are not going anywhere , traders are getting replaced by computers, bankers are still necessary for ipos and m&a but you could make so much more if you play your cards right.
I would kill to be in your position , don't squander it because of some " desire " aka you are only doing IB to make money and so is everyone else instead of utilizing what you have.
If his dad is well-connected then his dad may as well just send him to a decent VC or corporate roles within a decent tech firm. Less pay but more useful skill set and interest work.
To op: do engineering if you are good at math and you dont hate it. If possible, minor in CS (or major if you really enjoy) and spend some free time learning codes (perhaps do it summer before you go college and summer in your freshman year).
I hate CS, but my parents really want me to do it. I have no doubt if I do go into CS, i can become a director/VP by 35, but i really do not want to do this in life. I love business, and i really want to either join a startup or do PE
Can your dad pull string and let you join a corporate role in tech companies? Just do some strategy/sales bd/finance stuff. Skill is also transferable if one day you want to join a startup
Pick the major you’re most interested in. Life is short, but it’s not that short. You’re going to have a very long career. Any decisions based on the immediate outlook are bad decisions.
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