Economics or Finance Major for Consulting Careers

Yes, I know this topic has been beaten to death already. My situation is slightly different than other schools. Finance and economics are both in the business school.

I got to a top 50 non target (One or two kids make BB each year, and some make local IBD). A lot of kids go into top corp fin. These kids are typically finance majors, but not all.

There are three possible degrees which would work - accounting, finance, or economics.

Accounting is arguably the best, but the classes are significantly harder. Most accounting students have GPA's below 3.5. I eliminated this degree after learning of this.

Economics and finance are both business degrees. The difference is 5 or 6 classes taken at the end of college.

Basically, I find economics more interesting, and the degree proves critical thinking skills, but I would not have the detailed financial classes of a finance major. Since I go to a non-target, I am not sure how much recruiters would care.

Honestly I am not necessarily going to do IBD. I am looking to either do consulting, entry level corporate strategy., or an FLDP. The skillsets are slightly different, but typically people are knowledgeable of both.

Finance or Economics for Consulting Career Path?

For a student that is interested in consulting, our users shared that an Economics degree will make a great deal of sense as that will allow you to pursue regular consulting as well as economics focused consulting.

johndoe89 - Hedge Fund Vice President:
You gotta figure out what your end goal is here - if you're interested in IB, then by all means do finance as a major with an accounting minor. Think about it from a recruiter's perspective - assuming you do economics and then apply to the same IB job as another kid with exactly the same credentials but who is a finance major, who'll be more attractive to them? On the other hand, if you want to do economics related consulting (think NERA), obviously you'll stand out as an Econ major.

One small piece of advice - don't be obsessed with going into IBD if you genuinely are not that keen on finance, its too painful for someone who's only getting into it owing to a herd mentality. If you like econ more, just do it and life will figure itself out.

Investment Banking Careers: Picking Between Finance and Economics Majors

If you are interested in pursuing a career in investment banking, finance is the more straight forward path as it will help you develop some of the technical skills that you will use on the job.

econpty:
The difference between Finance and Economics is that the former is much more practical, while the latter can be very interesting yet abstract. I have a B.S. and M.S. in Economics and I can tell you with certainty that much of the modelling you will learn in economics will not be performed in most jobs, especially in the Financial Services industry-aka Wallstreet. I can give you a preview of what's to come in your Econ courses: you will start off by building simple S&D graphs, in Micro Theory you will learn about Utility Functions subject to Budget Constraints (basic calculus), in Macro Theory you will construct multi-variable models that represent "hypothetical" Economies (basic caluclus, basic algebra). Economics is more about building critical thinking skills and understanding economic variables.

On the other hand, the skills learned in Finance, particularly Financial Engineering or Quantitative Finance are highly practical. A lot of the modeling done from DCF's to Stochastic Calculus is exactly the type of work performed by professional in the field. Most of the financial modelling is done in Excel, you'll probably even learn Excel VBA which is one of the most valuable technical skills in Finance.

Learn more about finance vs. economics in the video below.

Read More about Majors on WSO

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Comments (293)

 
Nov 15, 2011 - 11:26am

I think you are dealing with a very comon dilemma which is deciding between degrees that offer the highest return on your educational investment (employment offers upon graduation and starting salaries) and those that you find most interesting and appealing.
The difference between Finance and Economics is that the former is much more practical, while the latter can be very interesting yet abstract. I have a B.S. and M.S. in Economics and I can tell you with certainty that much of the modelling you will learn in economics will not be performed in most jobs, especially in the Financial Services industyr-aka Wallstreet. I can give you a preview of whats to come in your Econ courses: you will start off by building simple S&D graphs, in Micro Theory you will learn about Utility Functions subject to Budget Constraints (basic calculus), in Macro Theory you will construct multi-variable models that represent "hypothetical" Economies (basic caluclus, basic algebra). The most useful technical skill you'll pick up in Economics is Econometrics, which unfortunately is not covered in depth at the u-grad level. Economics is more about building critical thinking skills and understanding economic variables.
On the other hand, the skills learned in Finance, particularly Financial Engineering or Quatititative Finance are highly practical. A lot of the modelling done from DCF's to Stochastic Calculus is exactly the type of work performed by professional in the field. Most of the financial modelling is done in Excel, you'll probably even learn Excel VBA which is one of the most valuable technical skills in Finance.
Anways...you're right in pointing out that this discussion can go on forever but I think the best thing you can do is talk to people in the fields you are interested in and ask them what they believe, in retrospect, were the most helpful courses they took.

 
Nov 15, 2011 - 12:04pm

Okay, unusual edit: We do have an accounting minor, which is pretty hefty in accounting but with no audit or tax stuff.

Would an econ major with accounting minor work out?

 
Nov 15, 2011 - 1:28pm

You gotta figure out what your end goal is here - if you're interested in IB, then by all means do finance as a major with an accounting minor. Think about it from a recruiter's perspective - assuming you do economics and then apply to the same IB job as another kid with exactly the same credentials but who is a finance major, who'll be more attractive to them? On the other hand, if you want to do economics related consulting (think NERA), obviously you'll stand out as an Econ major.

One small piece of advice - don't be obsessed with going into IBD if you genuinely are not that keen on finance, its too painful for someone who's only getting into it owing to a herd mentality. If you like econ more, just do it and life will figure itself out.

 
Nov 15, 2011 - 1:37pm

Honestly I am not necessarily going to do IBD. To be honest, I posted the question here because of high traffic. I am looking to either do consulting, entry level corporate strategy., or an FLDP. The skillsets are slightly different, but typically people are knowledgeable of both.

 
Nov 15, 2011 - 4:07pm

Chef:
Yes, I know this topic has been beaten to death already. My situation is slightly different than other schools. Finance and economics are both in the business school.

I got to a top 50 non target (One or two kids make BB each year, and some make local IBD). A lot of kids go into top corp fin. These kids are typically finance majors, but not all.

There are three possible degrees which would work - accounting, finance, or economics.

Accounting is arguably the best, but the classes are significantly harder. Most accounting students have GPA's below 3.5. I eliminated this degree after learning of this.

Economics and finance are both business degrees. The difference is 5 or 6 classes taken at the end of college.

As a business economics major, I would still take a corporate finance class, just not classes focused specially on debt and equity. My major classes include intermediate micro/macro and some electives of my choice, such as game theory.

As a finance major, I would take debt, equity, and portfolio classes. The rest are limited electives.

Basically, I find economics more interesting, and the degree proves critical thinking skills, but I would not have the detailed financial classes of a finance major. Since I go to a non-target, I am not sure how much recruiters would care.

Thoughts?

Thank you.

P.S. No double major is possible, or even a minor, in one or the other.

I thought you were a kid at my school...then I realized your profile says University of Florida.

 
Nov 16, 2011 - 12:54am

If you are gonna go econ...take a SHIT LOAD of math. Integral Calculus, Linear Algebra, Matrix Algebra etc. graduate and immediately get into a top tier PhD program with full funding- defend your dissertation and then become a quant. If you hate it you can go to academia and teach undergrads how to plot indifference curves and explain the concept of marginal using Big Macs.

I was in an econ program. I freakin' LOVED it.

 
Nov 16, 2011 - 1:34pm

Chef,

I am a senior finance major at your school, and I obtained my full time IB offer earlier this semester. From undergrad, there were only four guys to break into banking. Three of them are finance majors and one is an economics major. The economics major is a very suave and intelligent guy who has competed on multiple international case competitions and did EXTENSIVE networking with some banks. He actually orchestrated a meeting with his student group and a tailgate with the bank he accepted his offer from.

The rest of the students that broke into banking from our school came from the MSF program (roughly 8-10 of them). Basically, the Finance major will give you more tailored classes towards IB versus economics. Coming from a non Ivy, I would say the best majors are Finance and Accounting, but like you said, it is rather difficult to make the GPA cutoff for accounting. Majoring in Econ isn't inherently bad, however you do not get the more practical theory exposure as you would as a Finance major. The Econ major who broke in is pretty much a boss, so I think he would have broken in regardless of major.

If you TRULY want to do IB, then I would highly advise the MSF program at our school. The course load is rather rigorous, but it will give you the most practical application to IB that you will find at our school. The overseer of the MSF program is also very good at her job and really helps the MSF students network with banks through info session, luncheons, and connections.

As an undergrad Finance major you will still need to stand out from the other plethora of finance majors. So if you don't want to do MSF due to cost or personal preference then start building that resume NOW. Join Student Finance Group, become a Finance TA, and do some case competitions. Also focus on landing that summer internship. You will also have to network unbelievably hard if you want to break in as an undergrad from our school (trust me, I know from experience).

Best of luck!

 
Nov 19, 2011 - 12:20am

Did you guys notice how I said on a post above that I am not necessarily interested in IB? Just a corp fin, consulting, strategy, or biz dev job focused on finance.

Nonetheless, I really appreciate the advice. Right now I am leaning towards the business economics degree. Based on responses, if I am not doing ibanking, I can leverage myself through leadership and GPA.

 
Nov 19, 2011 - 12:24am

Economics Major - Undergrad business majors acceptable? (Originally Posted: 02/15/2007)

I new to this website and I Banking...So I was just wondering if you had any chance of getting into a BB with an economics major? Are undergraduate business majors only acceptable or are economics majors also desired?

 
Nov 19, 2011 - 12:46am

Economics vs. Finance Degree (Originally Posted: 01/13/2010)

I'm about to graduate in a year from a crap school, The University of Houston. I'm in their "Honor's Program" and I can't wait until graduation.

I have not seen anyone from this school post on this board and I have definitely not seen anyone mention it, but regardless, I'm graduating from there and I'm not sure which degree I should focus on.

Right now, I have the option of majoring in Finance or Economics. You can't double major w/o seeking a dual degree (BBA/BS) which means an additional year of coursework that I don't see benefiting me much in the long run.

So, my question is which would be a better route to pursue? Economics or Finance or Finance/Accouting...

I'm not sure how I'll land an I-Banking job from this school, but I'mhoping my networking skills will help. I'm so discouraged by my hopes of getting into I-Banking that I'm considering law school. However, I don't want to tack on that level of debt. So, which would benefit me more a BS in ECON or a BBA in Finance or BBA in Finance/Accounting?

Just curious as to what your opinions are..

Thanks..

 
Nov 19, 2011 - 12:47am

Relax. Take a deep breath. You are where you are.

Econ vs. Finance is more or less a wash. Honestly, you probably wont learn enough for it to make a difference in either classes. Also, it probably wont make a difference to any bank from a resume perspective.

If you were going to do finance/ acct however, thats pretty cool.

I'm a finance turned econ major ps.

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Nov 19, 2011 - 12:57am

1stYearBanker,

Not that I'd look your way, but perhaps you should spend less time looking for datable women on WSO and join Match.com - with a FACE pic.

 
Nov 19, 2011 - 12:51am

dude get some more pride in your school. Just by your attitude I can tell your not going to make it.

KICKIN ASS AND TAKING NAMES
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Nov 19, 2011 - 12:52am

How does having pride in my school determine whether I'll make it into I'Banking? The school sucks. Period. Admiting that won't change a thing. I'm a realist and I know I'll have to work harder to get into I-Banking. That's real talk, not a poor attitude.

You don't know my personality.

 
Nov 19, 2011 - 1:07am

I know a couple of UH grads that made it in the BB and smaller shops. It's poor attitude and lack of knowledge on your part. I'm sure they were not on WSO saying UH is a crap school.

UofHGirl:
How does having pride in my school determine whether I'll make it into I'Banking? The school sucks. Period. Admiting that won't change a thing. I'm a realist and I know I'll have to work harder to get into I-Banking. That's real talk, not a poor attitude.

You don't know my personality.

 
Nov 19, 2011 - 1:09am

jddl:
I know a couple of UH grads that made it in the BB and smaller shops. It's poor attitude and lack of knowledge on your part. I'm sure they were not on WSO saying UH is a crap school.

UofHGirl:
How does having pride in my school determine whether I'll make it into I'Banking? The school sucks. Period. Admiting that won't change a thing. I'm a realist and I know I'll have to work harder to get into I-Banking. That's real talk, not a poor attitude.

You don't know my personality.

Excuse me, I've worked at a BB before. I know it's possible - at a very small BB. I also know a girl that received a FT Analyst job w/ JP Morgan, NYC - she was a UH Alumni. I never said it was impossible. But yes, UH does not have a very reputable business program when compared to others across the US. On top of that, BB's don't recruit there. 99% of the time, your resume will get dropped in the trash bin. You have to earn it. I know that.

I'm sure they've never even heard of WSO, anways.

 
Nov 19, 2011 - 1:10am

OK, back to your questions--- do not do finance unless you do the GEM-professional track (the one with physics and cal 3)

I think you should do econ and join a business student organizations, it will make you stand out

It seems you know enough people in the industry so try to network your butt off. And for Houston BB banks, they usually take 2 interns and give those students FT position afterwards. Very rarely, they will go back to recruit FT since they do not need many analyst. So, it's important that you try to get an internship.

Lazard and the likes usually take 1 intern.

Good Luck. I hope you get it.

UofHGirl:
jddl:
I know a couple of UH grads that made it in the BB and smaller shops. It's poor attitude and lack of knowledge on your part. I'm sure they were not on WSO saying UH is a crap school.

UofHGirl:
How does having pride in my school determine whether I'll make it into I'Banking? The school sucks. Period. Admiting that won't change a thing. I'm a realist and I know I'll have to work harder to get into I-Banking. That's real talk, not a poor attitude.

You don't know my personality.

Excuse me, I've worked at a BB before. I know it's possible - at a very small BB. I also know a girl that received a FT Analyst job w/ JP Morgan, NYC - she was a UH Alumni. I never said it was impossible. But yes, UH does not have a very reputable business program when compared to others across the US. On top of that, BB's don't recruit there. 99% of the time, your resume will get dropped in the trash bin. You have to earn it. I know that.

I'm sure they've never even heard of WSO, anways.

 
Nov 19, 2011 - 1:14am

Thanks JDDL, unfortunately, the GEM Professional Track starts your freshman year. However, they do have the GEM track for finance and it seems ok, at least better than just a BBA in Finance.

The courses seem interesting. But I am interested in ECON. They also have econ courses in trading and development, which look interesting. And yeah, an econ major would stand out in a sea of Business majors.

The BB I worked for was in New Orleans, not Houston, but it's better than nothing..

http://www.bauer.uh.edu/undergraduate/finance/global-energy/track2.asp - Not all the Energy courses available, but some of them..

 
Nov 19, 2011 - 12:53am

First, cut the shit, Houston with the oil and gas there is massive amounts of I Banking. Don't have that attitude, I would take finance, second do a quick look for alums in the Houston IB scene, there has to be at least one. With great grades and any school (relatively) can break in with solid networking.

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Nov 19, 2011 - 12:54am

I didn't say I couldn't do it, but it's a lot harder. IBanks here in Houston still like to hire Ivy grads. They would pick an English major from Penn over a Finance major at U of H.

But, I know great grades and good networking will help. I'm working on looking into the Alumni network and I've also joined a few professional organizations in Finance and International Business.

I know I have some options...

 
Nov 19, 2011 - 1:00am

UofHGirl:
I didn't say I couldn't do it, but it's a lot harder. IBanks here in Houston still like to hire Ivy grads. They would pick an English major from Penn over a Finance major at U of H.

But, I know great grades and good networking will help. I'm working on looking into the Alumni network and I've also joined a few professional organizations in Finance and International Business.

I know I have some options...

Dear god, you sound exactly like my ex gf, having to quantify every fucking thing. Listen, I broke in from a absolute non target state school, you don't need to do this and that masters. Network, leverage what you have so far, & I'm sure you could at least get a job at a boutique. If not there's a couple other wanna be ball busting skank's posting on her that are headed towards Boston, maybe it'd be worth checking out...http://www.wallstreetoasis.com/forums/boston-for-banking

Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions
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Nov 19, 2011 - 1:01am

westfald][quote=UofHGirl:
I didn't say I couldn't do it, but it's a lot harder. IBanks here in Houston still like to hire Ivy grads. They would pick an English major from Penn over a Finance major at U of H.

But, I know great grades and good networking will help. I'm working on looking into the Alumni network and I've also joined a few professional organizations in Finance and International Business.

I know I have some options...

Dear god, you sound exactly like my ex gf, having to quantify every fucking thing. Listen, I broke in from a absolute non target state school, you don't need to do this and that masters. Network, leverage what you have so far, & I'm sure you could at least get a job at a boutique. If not there's a couple other wanna be ball busting skank's posting on her that are headed towards Boston, maybe it'd be worth checking out...//www.wallstreetoasis.com/forums/boston-for-banking[/quote]

Leave the "skank" comments for your ex, not me.

As I said before, I know networking is a must for me. It's obvious since not 1 IB/BB comes to my school. It's really not a target for much of anything, but if all else fails, it can't hurt to get an advanced degree from a target.

Or in my case, go to law school.

 
Nov 19, 2011 - 1:08am

Stop assuming that Ibanks in Houston has lots of Ivy grads. It's not true at all. 90% are from UT. The rest are Ivy grads, TCU, SMU , etc.

Bear Energy now JP Morgan Ventures Energy Corporation does have a high population of Ivy but that's not investment banking. And that's about it. Banks in the North got the Ivy concentration.

UofHGirl:
I didn't say I couldn't do it, but it's a lot harder. IBanks here in Houston still like to hire Ivy grads. They would pick an English major from Penn over a Finance major at U of H.

But, I know great grades and good networking will help. I'm working on looking into the Alumni network and I've also joined a few professional organizations in Finance and International Business.

I know I have some options...

 
Nov 19, 2011 - 1:11am

jddl]Stop assuming that Ibanks in Houston has lots of Ivy grads. It's not true at all. 90% are from UT. The rest are Ivy grads, TCU, SMU , etc.</p> <p>Bear Energy now <abbr title=JP Morgan>JP</abbr> Morgan Ventures Energy Corporation does have a high population of Ivy but that's not investment banking. And that's about it. Banks in the North got the Ivy concentration.</p> <p>[quote=UofHGirl:
I didn't say I couldn't do it, but it's a lot harder. IBanks here in Houston still like to hire Ivy grads. They would pick an English major from Penn over a Finance major at U of H.

But, I know great grades and good networking will help. I'm working on looking into the Alumni network and I've also joined a few professional organizations in Finance and International Business.

I know I have some options...

[/quote

UT, yes. Perhaps, a very small amount from SMU and even fewer some TCU, but I never said most banks in Houston have Ivies, but that they prefer - and often get - them for Analyst/Associate positions.

 
Nov 19, 2011 - 1:27am

jddl:
Stop assuming that Ibanks in Houston has lots of Ivy grads. It's not true at all. 90% are from UT. The rest are Ivy grads, TCU, SMU , etc.

Bear Energy now JP Morgan Ventures Energy Corporation does have a high population of Ivy but that's not investment banking. And that's about it. Banks in the North got the Ivy concentration.

UofHGirl:
I didn't say I couldn't do it, but it's a lot harder. IBanks here in Houston still like to hire Ivy grads. They would pick an English major from Penn over a Finance major at U of H.

But, I know great grades and good networking will help. I'm working on looking into the Alumni network and I've also joined a few professional organizations in Finance and International Business.

I know I have some options...

not they dont. I would say less then 5%

 
Nov 19, 2011 - 12:55am

u of houston person: look into getting a masters in accounting from UT-Austin after you graduate. it is only a one year long program and not terribly expensive.

also, it is the top ranked masters of accounting program in the country, and from what I hear, all the top houston energy IB groups (virtually all BB's and elite boutiques) recruit students from there. even McKinsey, bain and Boston Consulting group recruit from the program, if you are interested in pursuing consulting.

so, what i would do: prepare for the GMAT and try to score a 700+ (the mean score for the class is about a 670, but if you can get above a 700 you will position yourself nicely for some sort of scholarship)

good luck

 
Nov 19, 2011 - 12:58am

Here's my opinion on Econ vs Finance

If you go to a strong school, pick econ. Top targets don't even have a finance major (not sure about Wharton).
If you go to UofH, I'd recommend Finance because it gives the impression that you have more concrete and applicable skills.

 
Nov 19, 2011 - 12:59am

TheRapist:
Here's my opinion on Econ vs Finance

If you go to a strong school, pick econ. Top targets don't even have a finance major (not sure about Wharton).
If you go to UofH, I'd recommend Finance because it gives the impression that you have more concrete and applicable skills.

Good points. I have some friends from Wharton. You can major in just about anything. A good friend of mine majored in Finance, Real Estate and Economics..

And yes, he had a hefty social life and graduated in 4 years.

 
Nov 19, 2011 - 1:02am

hmmm... u got to UofH u must be hot? I'm guessing UofH is a close relation to Arizona State, but in Texas? Interesting, please tell me you are blonde.

Also I'd say go Finance b/c it's what you're looking to do. While there is financial economics and whatnot you wont learn as much related to your job at hand.

========================================= We are excited to formally extend to you an offer to join Bank of Ameria
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Nov 19, 2011 - 1:03am

UH has a great business school in my opinion I would do Finance. I attend UHV, finance major
and work for JPM on the retail side. At the end of the day its about grades and how you decide to apply yourself.
I see a lot of analyst/IB positions open up in Houston. I've been looking into Dallas and their market seems pretty good as well if you want to stay in state.

JPM has internship try to appy: www.jpmorganchase/careers

Good Luck

 
Nov 19, 2011 - 1:05am

investin925:
UH has a great business school in my opinion I would do Finance. I attend UHV, finance major
and work for JPM on the retail side. At the end of the day its about grades and how you decide to apply yourself.
I see a lot of analyst/IB positions open up in Houston. I've been looking into Dallas and their market seems pretty good as well if you want to stay in state.

JPM has internship try to appy: www.jpmorganchase/careers

Good Luck

Thanks Investing. :) Yes, Dallas is a good city.. I think what makes Bauer interesting is the GEM Program, esp. in Finance. Although, I don't want to be limited to the Texas/Gulf Coast region or energy, I don't mind gaining the experience I need in order to branch out.

And I agree, it is how I choose to apply myself. There are some good professional org. here that help you get in touch w/ the right people. I worked for a bit at Merrill Lynch's Private Wealth Managment group and made some decent contacts. However, I've noticed that the IB's in Houston (and Dallas) still like Ivies, but there's always a way to connect.

 
Best Response
Nov 19, 2011 - 1:04am

Finance/Accounting or even just straight up accounting is most useful for i banking. You could probably just buy a used copy of Principles of corporate finance off Amazon and skim through it - that'd do you fine for the finance stuff. Accounting stuff is a lot harder to learn and a lot more important not to screw up.

Regarding your school. Yeah U of H isn't exactly a target, but beyond realizing that you'll probably have to seek THEM out rather than the other way round, there's no point in telling yourself over and over that "I'm going to have to work SO SO hard to make this happen." Shit, EVERYONE works hard to make shit happen - as a general rule that's the kind of people that i banking attracts. But the "boy oh boy do I go to a shitty school" stuff just knocks you off your game. And ironically, coming from U of H, that is just what you can least afford to have happen.

Don't be thinking about all the reasons that some imagined recruiter might have against you and go into interviews pre-apologizing for them. Don't say shit like "coming from a school like UofH" just talk about what you can add to the bank. As to the bullcrap spouted by the idiots on this forum like 1st Year Banker - don't apologize for being a woman trying to break into a male dominated industry. Don't even go there, just talk about how there's no one that will work harder than you. Just go about your biz and kick ass.

 
Nov 19, 2011 - 1:06am

jhoratio:
Finance/Accounting or even just straight up accounting is most useful for i banking. You could probably just buy a used copy of Principles of corporate finance off Amazon and skim through it - that'd do you fine for the finance stuff. Accounting stuff is a lot harder to learn and a lot more important not to screw up.

Regarding your school. Yeah U of H isn't exactly a target, but beyond realizing that you'll probably have to seek THEM out rather than the other way round, there's no point in telling yourself over and over that "I'm going to have to work SO SO hard to make this happen." Shit, EVERYONE works hard to make shit happen - as a general rule that's the kind of people that i banking attracts. But the "boy oh boy do I go to a shitty school" stuff just knocks you off your game. And ironically, coming from U of H, that is just what you can least afford to have happen.

Don't be thinking about all the reasons that some imagined recruiter might have against you and go into interviews pre-apologizing for them. Don't say shit like "coming from a school like UofH" just talk about what you can add to the bank. As to the bullcrap spouted by the idiots on this forum like 1st Year Banker - don't apologize for being a woman trying to break into a male dominated industry. Don't even go there, just talk about how there's no one that will work harder than you. Just go about your biz and kick ass.

Many thanks, Jhoratio. Yes, it's hard work for everyone. Although, I'd never say "coming from a school like UofH" hahaha... I really appreciate your advice.

 
Nov 19, 2011 - 1:12am

Ever consider working for an OG or Energy company in a finance role, then either lateraling, or going to bschool, then banking? if you have a 3.8ish gpa, you got a shot whereever you went; just network your butt off...every bank has a group in houston now, so would guess they have non-targets, you can be one of them

 
Nov 19, 2011 - 1:17am

eiffeltowered:
Ever consider working for an OG or Energy company in a finance role, then either lateraling, or going to bschool, then banking? if you have a 3.8ish gpa, you got a shot whereever you went; just network your butt off...every bank has a group in houston now, so would guess they have non-targets, you can be one of them

I could easily get a Finance job at an energy company, but I'm not really interested in it...

Thanks for the advice, though..

 
Nov 19, 2011 - 1:15am

1styearBanker:
You girls are too easy. Keep it up :)

PS: How's the trader assistant job search going?

aw sorry dude. I would let you know how it was going if I were looking for one. Will definitely keep you posted though since you seem to have a special interest in what my career aspirations are.

 
Nov 19, 2011 - 1:16am

1 week 16 minutes ago

"hey everyone,
got an interview call for a trader's assistant position and wanted to know if anyone has had any experience or heard about this company. it is a small proprietary trading company but rapidly growing. comp is pretty standard (65k) with opportunity to eventually start trading on one's own
would appreciate any input from any of you! thanks"

//www.wallstreetoasis.com/forums/nico-holdings-llc

 
Nov 19, 2011 - 1:18am

[quote=1styearBanker]1 week 16 minutes ago

"hey everyone,
got an interview call for a trader's assistant position and wanted to know if anyone has had any experience or heard about this company. it is a small proprietary trading company but rapidly growing. comp is pretty standard (65k) with opportunity to eventually start trading on one's own
would appreciate any input from any of you! thanks"

//www.wallstreetoasis.com/forums/nico-holdings-llc[/quote]

"Got a call" as opposed to "I'm really interested in a TA position and actively searching for one"
Jerk. It would help to know some English.

 
Nov 19, 2011 - 1:19am

"Hi everyone,

Can anyone provide me with some insight as to what type of questions should be expected for a risk interview in a prime services team? What type of risk do they manage and how? What specific skills (apart from the generic) do they look for in an analyst? Should brainteasers be expected? Again, this is for a prime services group whose clients are mostly hedge funds

THANKS!!!
"

//www.wallstreetoasis.com/forums/risk-interview-questions-help

 
Nov 19, 2011 - 1:20am

[quote=1styearBanker]"Hi everyone,

Can anyone provide me with some insight as to what type of questions should be expected for a risk interview in a prime services team? What type of risk do they manage and how? What specific skills (apart from the generic) do they look for in an analyst? Should brainteasers be expected? Again, this is for a prime services group whose clients are mostly hedge funds

THANKS!!!
"

//www.wallstreetoasis.com/forums/risk-interview-questions-help[/quote]

okay, and??! you obviously have no point to prove. I think it's established you're pretty much a retard and from this point onwards I'm done wasting my time on your absolutely pointless, sexist posts. Wow, you have been so frickin annoying it's ridiculous haha

 
Nov 19, 2011 - 1:22am

Wait, I saved the best for last.

" buttercup (Monkey, 50 Points) on 1/7/10 at 9:56pm
Hey everyone,

I've got an interview at AXA advisors for a "Finance Professional" position.. any input on the company/pay/culture/position? Thanks!!"
http://www.wallstreetoasis.com/forums/axa-advisors-worth-it

I mean come on are you serious? Is this a game of how many shitty jobs you can come up with in your stupid formatting? Here let me try:

"Hey everyone,
I recently got an interview at Abercrombie and Fitch folding clothes. Its a good growing firm with a good chance of me moving to sales register after 1 year. What type of clothes do they fold and how?! What kind of cloth folding employees are they looking for? Any input on company/pay/culture/position? Again, this is for a position where I fold clothes. THANKS!!!"

  • Future buttercup thread
 
Nov 19, 2011 - 1:25am

buttercup must be hot and blonde - my type o girl

========================================= We are excited to formally extend to you an offer to join Bank of Ameria
  • 2
  • 1
 
Nov 19, 2011 - 1:29am

Not to get too into this shit throwing contest (which is absolutely hilarious btw), but I'm confused about UofH's situation.

You worked at a "very small" BB in New Orleans? What's a small BB? Comps?

What did you do at said "very small" BB? Did you get a return offer?

If your experience at this BB was even semi-legit and you have a good GPA you should be able to get interviews in IBD even through online applications (I landed several BB ibd interviews this way).

It's good that you realize you have to chase what you want and grab it but judging by what you've said thus far, it really doesn't sound like you've fully exhausted your resources. Email EVERY alum in IBD whether it be though an official university alum list or LinkedIn.

Deciding between finance and econ is the least of your worries.

 
Nov 19, 2011 - 1:30am

I think the OP doesn't have a problem in getting interviews at IBD because she mentioned that she got friends from targeted schools and she knows someone that got a job at JPM.

I think she feels that she's at a disadvantage because she attends a non-target school-- and is asking what would give her a legs up: fin or econ.

 
Nov 19, 2011 - 1:32am

Deciding on a major is not the least of my worries, since I plan to use it as leverage while networking.

However, I worked at an investment boutique (right, BB4life) that focused primarily on M&A. I was just a part-time research analyst for the summer and the rest of the summer was spent working on a summer fellowship. I don't plan on returning, as I plan to take tons of classes this summer so that I can graduate sooner.

And you're right, I haven't exhausted my resources. However, I do much better meeting people in person. I'm not sure I sound like a strong enough candidate on paper, but I'm not ruling out cold emails. However, I've joined more organizations where I can meet potential contacts and make connections. I'll also give LinkedIn a try..

 
Nov 19, 2011 - 1:33am

Wow... never seen a banana count in the negatives before. Hey Patrick, we should have a category below chimp. Maybe ticks or parasites that live on chimps.

This is obviously a troll... I hope so anyway, you're making the other girls on this forum look bad

 
Nov 19, 2011 - 1:34am

Vz:
Wow... never seen a banana count in the negatives before. Hey Patrick, we should have a category below chimp. Maybe ticks or parasites that live on chimps.

This is obviously a troll... I hope so anyway, you're making the other girls on this forum look bad

^^^^^

Completely pointless.

 
Nov 19, 2011 - 1:35am

UofHGirl, does that mean you have investment banking experience? This is a great boon to your application if you can show that, even if it is a research position. Have you considered applying to other boutique investment banks? Coming from a non-target, a good option for many is to go to a so called no name boutique and lateral to larger banks later. The most important part is getting that experience.

Oh and by BB most people mean: http://en.wikipedia.org/wiki/Bulge_bracket

 
Nov 19, 2011 - 1:36am

Thanks, BB4life, I did work at a small investment boutique and although, the environment was ideal, the pay was very low.. I also worked in PWM at Merrill Lynch, but most of what I did there was cold calling.

I have looked at a few other boutiques (and hedge funds) here in Houston, but not that many. Thanks for the heads-up, it's appreciated.

 
Nov 19, 2011 - 1:38am

monty09:
I think finance would be a better option and heading up all the alum you can. If you choose to go the law school route they both are considered equal in my eyes

I'm not as familiar with the high finance/law industry as some people here (so don't neg me lol), but I've heard that law schools typically don't like "vocational" majors like nursing, business and its concentrations, accounting, etc. They prefer academic majors like econ/math, so I'd say that if you really do want law, then go with econ while taking some math classes to impress i-banks.

 
Nov 19, 2011 - 1:39am

Clearly none of you idiots works in Houston if you think 90% of bankers here are from UT. Rice University grads run Houston, period. UT is second. SMU is third. There are a few Aggies here and there. There aren't that many Ivy Leaguers, although they are definitely around.

Don't pull random facts out of your ass unless you can back them up.

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
 
Nov 19, 2011 - 1:40am

Master's in Economics vs Finance for Investment Banking Recruitment (Originally Posted: 08/23/2010)

Assume the general Master's program in finance a la Vanderbilt, Villanova, Purdue, etc. (eg not MFE or quantitative finance) as opposed to an Economics degree.

Do (or can) top econ programs place into IBD? If so at what point do you think it becomes more advantageous to go with the finance option (if it does)? After the top 10? 25?

If not investment banking, where do econ masters (akin to their jedi brethren) get jobs in finance? Besides Phd programs I suppose.

"The only point in making money is so you can tell some big shot where to go.” -Bogie
 
Nov 19, 2011 - 1:46am

My major, and i dont know what to do///// accounting vs finance vs economics (Originally Posted: 01/10/2011)

i am currently in my second semester of my sophomore year at clemson and i just dont know what to major in, i have focused my course load towards 3 degrees, finance, accounting, and economics and am leaning more toward econ but i dont know which is best, which degree do i am more option in... i am currently an analyst for a company that does under writing and Asset Management for mult family housing and i enjoy it but the pay scale isnt the best, which degree would help me earn the biggest salary?

 
Nov 19, 2011 - 1:49am

Finance & Economics (Originally Posted: 04/19/2011)

When picking a major and attempting to break into i-banking or Asset Management, which one is more useful. I keep thinking they're synonymous but i'm not sure. Can somebody give descriptions of each and the answer to the former?

 
Nov 19, 2011 - 1:52am

Economics vs. Finance for Undergrad (Originally Posted: 07/31/2011)

Long time lurker and I just decided to make an account but anyways,

I got accepted to University of Florida for the undergraduate business program and declared Economics as my major and I've been having thoughts lately about going with Finance. I'm not gunning for IB or anything I just want a modest salary-job and career growth. Not really interested in retail banking, I'd prefer working in an office for JP Morgan or something similar.

I'm going to go ahead and list out the classes available for both and I think you will see my concerns with the Economics degree or perhaps I'm just wrong but everything I've read online says that you should have a lot of math when it comes to Economics or it's worthless.

ECONOMICS

ECO 2013 Principles of Macroeconomics
ECO 2023 Principles of Microeconomics
ECO 3101 Intermediate Microeconomics
ECO 3203 Intermediate Macroeconomics
ECO 3532 Public Choice
ECO 3704 International Trade
ECO 3713 International Macroeconomics
ECO 4400 Game Theory and Applications
ECO 4504 Public Economics
ECO 4730 The Firm in the Global Economy
ECO 4934 Special Topics
ECO 4935 Empirical Research in Economics Seminar
ECO 4941 Internship in Economics
ECP 3006 Economics of Sports
ECP 3113 Population Economics
ECP 3203 Labor Economics
ECP 3302 Environmental Economics and Resource Policy
ECP 3703 Managerial Economics
and a couple more special topic classes like healthcare/education.

FINANCE
FIN 3403 Business Finance
FIN 4243 Debt and Money Markets
FIN 4403 Honors Finance
FIN 4414 Financial Management
FIN 4433 Venture Finance and Private Equity
FIN 4504 Equity and Capital Markets
FIN 4905 Independent Research
FIN 4934 Special Topics
FIN 4941 Internship in Finance
FIN 4956 International Studies in Finance
FIN 4970 Honors Thesis
GEB 4110 New Venture Creation
REE 2951 Special Projects
REE 3043 Real Estate Analysis
REE 4103 Real Estate Valuation
REE 4303 Real Estate Investment Decision Making
REE 4905 Independent Research
REE 4956 International Studies in Real Estate
REE 4970 Honors Thesis

Long story short, I'm stuck in the middle of picking a major over the other. I like finance because the job search may be easier and it's more of a technical skill but on the other hand I enjoy economics slightly more. I also was contemplating starting to study for the LSAT and economics would help in that aspect. Also as a side note they both are ranked in the top15 for public universities and there is rather lengthy list of class you're required to take. Business stats and Business calc are the highest math classes you have to take to my knowledge.

 
Nov 19, 2011 - 2:08am

Economics or Accounting and Finance (Originally Posted: 08/03/2011)

I will be joining one of the TOP-10-15 Universities in UK. But I cannot decide between Economics or Accounting and Finance for an undergraduate degree.

I have read economics and find it very very interesting. I have never studied Accounting or Finance. But it looks like that A&F degree is more relevant to IB than Economics.

What do you guys suggest?

 
Nov 19, 2011 - 2:12am

Major? Finance VS Economics (Originally Posted: 03/05/2012)

I am an undergraduate student aspiring to do IBD. But I am really confused about which major should choose. A lot of people tell me finance or accounting more fit in I-banking. But some people tell me finance and economics are the same. I am really in a dilemma. Help me!

Hush Jacob
 
Nov 19, 2011 - 2:23am

The Relativity of an Undergraduate Economics Degree (Originally Posted: 05/15/2012)

I go to a target Canadian University ( Queen's) and I am just pondering the relativity of my Applied Economics degree in the current/future job market. I have read mixed results on other forums, so I thought why not bring this to WSO where I actually value the opinions and advice I am given! Although I do not go to the BSchool (Queen's School of Business) at my university, I will get an immense amount of exposure to BB's and the top 5 Canadian banks through recruitment fairs and information sessions so I am not worried about internships (going into 2nd year) I just want to know how the degree is regarded by professionals in the areas of profession that I am interested in.

Keep it together and you will go far..
 
Nov 19, 2011 - 2:29am

Economics is it still helpful? (Originally Posted: 07/06/2012)

Hi,

I am currently doing a bachelors in Economics and Finance. I am wondering how much an Economics degree is worth to Investment or hedge firms, in terms of recruiting. I am always scared that it will not be quant enough for their liking and becuase of that I am taking most of my electives in math based courses, such as game theory(dont know if its used in finance or IB), mathematical economics, differential calculus, multivariate calculus, an introductory programming course(Python and Eclispe) and on top of that by graduation I would have taken atleast 2 courses in econometrics, and 1 in stats. And some finance related courses like investment management, option futures, financial management, and few accounting courses.

Each day when I look up related jobs in hedge funds or investment banks, most of them require a quant major, and it sometimes scares me that my major wont be enough, Should I try transferring to some other major such as math/stats?(as much as I love studying econ)

(Of course internships, and other worked placements also help, but my question is more related to the educational skillset required)

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