Econ major with IB internship?

Dear,

Background of me: International student studying abroad at a non-target in Midwest
I am transferring soon, and I'm getting nervous already because of the fact I'll be majoring in Econ. (School will be either UMich or NYU, not yet decided) Both have great target b-school, and Econ is looked down on due to their existence. Btw, NYU Econ offers STEM and UMich doesn't!!!

Questions below:

  1. If I have an IB internship (in addition to search fund and ER) before transferring, would that completely offset the "Ross/Stern-loser" label that will hinder my chance for BB IBD NYC?
  2. I'm not a math guy. So no Math/Econ double. Maybe double with one of Stat/Philo cuz I am interested and eager to learn them. Would you recommend this choice to me in terms of recruiting?
  3. Do NYU and UMich Econ people have a decent shot for MBB? I am also highly interested in MC and might turn to it. So the MBB chance is definitely something to consider.

Really do appreciate your time. This is sooo important and I want to hear how others think.

Comments (14)

  • Analyst 1 in IB-M&A
Oct 24, 2019

Didn't know that NYU econ is STEM and UMich isn't, but if true then definitely take NYU. Your status as an international student will hinder your chances 100x more than any other thing on your resume. I don't know why you think Ross/Stern has a loser label, but either way just focus on what you can control - IB internship > no IB internship. Does that guarantee you anything? No. It's a numbers game, but if you're dead set on something it's irrelevant how the odds are stacked.

You seem like a practical guy - if you want to do stats/phil then go ahead, but if that's costing your gpa or networking time then probably not.

Oct 24, 2019

Hi, thanks for your response! One thing to clarify is that I didn't mean that Stern/Ross people don't have a loser label, but their econ students do. (according to what I hear) And I will be majoring in Econ as a transfer. And I'm debating if I should double with stat major if I decide to go to UMich. (cuz I like UMich better than NYU)

  • Analyst 1 in IB-M&A
Oct 24, 2019

I don't know enough about the Ross/Stern situation, but in general what you major in is relatively trivial. The stigma you hear is usually very old or spread baselessly by a few arrogant dickheads online. In reality, my experience is no one really cares what you major in, including recruiters, classmates, and friends.

If doubling in stats gives you STEM at UMich then sure, but I don't know how mathy you are when you say you're not a math guy. I feel you might be underestimating upper-level stats, it's not that different from a math major. And again, if it ends up costing your gpa then that's not good.

Oct 24, 2019

Very helpful response. And yes, I am leaning toward Stat with a very constrained range of information that I have. I'll research more about it and make a well-informed decision. Thank you very much for your time.

  • Analyst 2 in IB-M&A
Oct 24, 2019

I might be the dickhead you mentioned but we do care if you're in the business school or not
Also I handle recruiting at my team

Oct 24, 2019

This. What would you say the advantages for b-schools students and reasons why you favor them over others including econ majors?

Most Helpful
  • Analyst 2 in IB-M&A
Oct 25, 2019

I won't comment on the difference in skill set/preparedness/aptitude of the candidates; with effort and time I'm sure non business school students can get to where business school students are and also that is highly subjective to some
The reality is that networking is a key aspect for banking
If you're in the business school you would have made connections throughout your college years, be it through finance clubs, friend circles or whatnots
And it's extremely helpful that when recruiting comes you already know the interviewer in some capacity and he/she knows from the personal interactions with you at school/finance clubs that you're a candidate they can vouch for

    • 2
  • Analyst 1 in IB-M&A
Oct 25, 2019

Lmao my bad, I stand corrected

Oct 24, 2019

My points:

  • NYU because location and better opportunities for networking (large alum classes too right?)
  • Ross is great but again, I think being so close to the financial hubs helps a ton
  • Econ is not great major if you don't plan on joining investment clubs or networking a ton, especially when finance is offered as a major at Stern. You could do Econ, but have to work harder since finance majors are picking it up in the coursework (somewhat) and have a more direct access to recruitment (if you don't happen to be in Stern)
  • Always study what you'll enjoy and do well GPA wise. If you're not good with Math, don't kill your GPA given you're a potential Econ major. Double majors are great but not worth killing your GPA for, major minor. People come in thinking they can double major, but not necessary to secure an internship.

Array

    • 1
Oct 24, 2019

Thanks for your response! Considering you're from PE, I'd like to know if quantitative skills gained from Statistics are useful in PE. Plus, what would you recommend out of the following options based on your experience/knowledge/value points? NYU Econ vs Michigan Econ/Stat

Oct 24, 2019
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