Finance jobs for liberal arts majors?
Recently graduated with a social science major from a non-target. For the majority of my life, I thought I wanted to be a Medical Doctor, hence graduating with an Hon. B.A. in Psychology while taking the prerequisites. While working in the health field while in school, I realized I absolutely did not want to be a doctor. After joining finance clubs, career prep programs, taking classes, and speaking to several mentors, I decided I wanted to work in finance. I want to learn how the markets work. I have more interest in finance than any other field so far. I got a Financial Advisor (Sales) job for a Fortune 100 finance/insurance company right out of school. Looking to get my series licenses and transition into finance. What are my options? What are finance jobs open to liberal arts majors?
Thanks!
If you're working full time, you could go ahead and apply to some top MBA programs after 2-3 years to rebrand yourself.
in my opinion... i'd say corp banking / commercial banking are liberal arts major friendly. pwm arguably.
This is wrong. All jobs are open to liberal arts majors - you just need to know your stuff. What's more limiting to you is just missing the recruiting timeline. As earlier posted mentioned, Bschool will open paths or networking a lot.
I have a liberal arts degree but now want to change my career, how fucked am I? (Originally Posted: 03/06/2017)
For the majority of my life I thought I wanted to be a lawyer, hence graduating from a Top 20 university (albeit not a US school) with an Hon. B.A. in History and Philosophy. When I started studying for my LSATs I realized I absolutely did not want to be a lawyer. I've been trying to figure out what I want to do with my life and, while I'm still unsure, I have more interest in finance than any other field so far (I'd also be lying if I didn't say money and lifestyle wasn't a big factor in my decision at this point in my life, though I'd probably not say that in an interview). Unfortunately, my school won't allow me to do a B.Com with them. How fucked am I, finance-career wise? What are my options? Am I basically stuck getting a job as a teller and hoping I can work my way into IB/PE/something like that?
Thanks!
Bump! (Sorry if this isn't allowed)
Go to business school in the US. I graduated without a bit of finance knowledge, went to Wharton, and am in ibanking now. The MBA is a huge reset button and people won't blink twice about a 180 switch in careers.
Teller to MD would be ultimate banking story. If you want a movie made about you, do that.
I mean, movie star sounds like an acceptable fall back career
Breaking into finance with a liberal arts background? (Originally Posted: 10/29/2017)
Recently graduated this past spring with a social science major. Out of these four positions, Private Wealth Management, Financial Analyst, Compliance/Operations, Financial Advisor, which job will help me the most when it comes to breaking into IB?
FA. PWM is horrible according to friends, especially at UBS's GTP.
Career Advice - Liberal Arts Major (Originally Posted: 06/27/2016)
I'll start by giving some background. I graduated from a non target school (top 20 public university) May of 2015, with a degree in Liberal Arts. I'm going into the final year of my MBA program, concentrating in Fiance, in the Fall. Currently I have a Financial Analyst internship in Corporate Fiance, but lack any other business experience.
I'm interested in getting into IB or Equity Research. The issue I'm coming across is pretty much all positions I look at (even entry level) require some kind of prior banking experience.
What are some good options to get my foot in the door, that will allow me to get solid industry experience and offer promising exit opportunities?
Thanks.
Honestly, your only option is probably boutiques. I would send out cold emails right away. You can always lateral to a larger bank down the road, but without prior experience, FT recruiting will be very tough, if not impossible.
Also, what can I do outside of school and internship to make myself a more attractive hire?
Advice for a liberal arts major (Originally Posted: 03/17/2014)
Hi guys,
I'm one of those just-stumbled-onto-consulting types, only seriously thought about it in my final year. Also, English major. I had about 3 days to prepare for a first round with a non-MBB firm (ATK/LEK/OW) and am pretty sure I bombed spectacularly. Especially on the maths. It was just embarrassing......
I'm still waiting to hear back from other firms that are still reviewing applications. I have Case in Point and have read through it and I've taken a look through Victor Cheng's free stuff (all in the space of 1-2 days). So would be really grateful and interested if anyone knows:
Thanks!
P.S. I'm in the Asia Pacific region.
Hi sorensen, What offices are you applying to? Have you looked at Vault's case guide or Wharton's case book? I'm sort of in your shoes as well, going through Case in Point and Victor Cheng's. Do you want to practice cases?
http://www.mconsultingprep.com/consulting-math/
For math tricks: http://caseprep.wordpress.com/category/quantitative/ For case partners: www.caseinterviewpartner.com and http://www.consultingcase101.com/case-partner-2013-2014/
I'd like to bump this. For those of you in pure strategy/ops roles: just what type of math are you doing day to day? Anything in particular for those of us trying to break in to focus on?
Also, in job postings for consulting roles, I see a lot of reqs wanting financial modeling experience. Can anyone shed any light on exactly what type (DCF, WACC, etc) of models strategy/ops consultants use?
Thanks!
Like most things in consulting, it depends highly from case to case. In some, you'll build fairly sophisticated financial models; in others, there will be near zero quantitative modeling component.
With that said, all you need to know for undergrad case interviews are arithmetic and basic accounting knowledge (and I mean really basic). If you have finance background, the interviewer may ask more of you.
First-Year at UVa: Will Majoring in Liberal Arts Hurt Me? (Originally Posted: 11/07/2016)
From what I understand, UVa is only a decent target if I'm in McIntire. Currently, I am a first-year on the pre-McIntire track, but I was wondering if I would still have the same opportunities to get into investment banking from a liberal arts major (maybe a double of math+history). I know UVa isn't HYP in that I can major in whatever I want, but I'm curious if this could be a viable option.
I am currently in one of the school's investment clubs where we manage a sizable portfolio of long/short stocks, so I do hear quite a bit about recruiting events and such.
Want some insight.
Wahoowa. You definitely can't break in through some bullshit history or politics major, but top scores is a quantitative field like CS/engineering/physics can definitely be an in as long as you keep a reasonable GPA.
McIntire is a great option, but imo it limits your career paths too much. I see myself competing for the same internships/jobs as people outside of McIntire who are studying quantitative subjects. If you choose the CS/engineering route, you also have the added benefit of having tons more career options as opposed to McIntire students who are limited to very specific fields.
As a recent UVA (McIntire) grad at a top BB, I would highly recommend pursuing McIntire if you are interested in banking. The network and career services that the comm school gives you are above and beyond what liberal arts majors get (from comparing my experience to friends outside of McIntire). I've seen a few non-comm students break in, but it takes considerably more networking - perhaps something that the investment club's older members could assist with if you go that route. I think for many banks, the commerce application process almost serves as a "pre-screening" that UVA has already done for them.
That said, I think it's very important to pursue your passions while at school. If you do decide on McIntire, you can always double major or minor in history (most of these credits will need to be taken 2nd or 4th year). It'll keep you sane and make you a more interesting person while you're at it. Leverage the UVA network no matter what you end up majoring in - lots of great people who are very willing to help.
The answer to your question is yes, it will hurt you. You will not have the same opportunities in IB as kids who are going to a top undergrad business school if you choose not to do that in order to pursue liberal arts at that same university. With that said, it won't be impossible to get into IB by any stretch, but if you're serious about finance I'd strongly recommend doing McIntire.
I definitely appreciate all the feedback. I've always liked history, so I think I will continue to pursue McIntire and maybe add a minor/double major in history.
Just hoping thatI will be able to complete all the necessary courses in my 2nd and 4th years
I have a liberal arts degree but now want to change my career, am I fucked? (Originally Posted: 03/07/2017)
So, I posted this in another forum but hadn't seen this forum, though it appears this section may be more appropriate. Here it is:
For the majority of my life I thought I wanted to be a lawyer, hence graduating from a Top 20 university (albeit not a US school) with an Hon. B.A. in History and Philosophy. When I started studying for my LSATs I realized I absolutely did not want to be a lawyer. I've been trying to figure out what I want to do with my life and, while I'm still unsure, I have more interest in finance than any other field so far (I'd also be lying if I didn't say money and lifestyle wasn't a big factor in my decision at this point in my life, though I'd probably not say that in an interview). Unfortunately, my school won't allow me to do a B.Com with them. How fucked am I, finance-career wise? What are my options? Am I basically stuck getting a job as a teller and hoping I can work my way into IB/PE/something like that?
Thanks!
For what it's worth, the CEO of the first investment bank I worked for was a history major.
Some of the best analysts at my banks were people who didn't have a traditional business degree - a lot of the Ivy League schools do not offer a business degree. I would argue banks place a greater emphasis on intelligence (although it doesn't take a rocket scientist to do IB). Long story short, I would not sweat it - just make sure you know the technicals for interviews and you can pick up the rest through training and experience.
Senior Liberal Arts major wanting to get into IB (Originally Posted: 11/26/2010)
I am working on my resume but need some advice, posted this in the resume section but realized this is a better forum, sorry if you have read it already:
BAckground
I am a senior at a small liberal arts college ranked in the top 20 by US NEWs. My major is american studies and history. I originally was pre law, but over the past 2 years I have gravitated away from that and towards a career in the financial industry.
I play football in the fall, and my gpa in the fall is 0.5 less than the 2nd term. (I play hockey in the winter, and MMA in the spring, but I am not nearly as brutalized each day from this than football so I guess my workload doesn't suffer as much).
My total gpa is 3.3, but steadily rising. I got a D+ freshman 1st semester taking a science class I didn't belong in, which is a killer. However in my junior year I was a 3.3 and 3.8, and expecting the same as a senior.
I am extremely personable , good on the phone and in person, and very good in sales. I worked for a political candidate this past summer and was very good at cold calling. Also I worked as an inside sales/customer service rep.
My other summer jobs were BS jobs in the view for finance, I was a lifeguard, cut lawns, worked in an office filing. Things that gave me money and let me have time to train.
I am one of the most competitive persons I know, and one of the hardest working people (I am not the guy who gets a A- by reading the book the night before the exam or paper is due, I am the guy who is up till 2am every night)
I know the standard path to IB and finance is to get a intern job the summer of junior year, but I wanted to play football my senior year, and really have to train over the summer. Also, I know the firms are looking for the highest gpa, and I think my junior senior year gpa will be > 3.5 so waiting will raise my overall GPA. I am offering the above not as excuses, but so you have the info.
My 3 questions are:
Is it only after the junior year that you can get summer position? My understanding is that summer position is critical to get full time position (saw some study that said 75% of full times taken from junior internship).
Since I am liberal arts major, would it make sense next year to just get any job and take 2 classes each semester at local CC, say micro/macro econ, finance/accounting. This would give me sort of a minor in econ and some business background. And then next fall apply for front office positions. Also, if things happen correctly, my GPA for my last junior/senior years will be 3.5+.
If I want IB, and don't get a front office job to start, I have sort of heard that you are branded, and it is not possible to ever get fo job later on?
Or finally, what would your general recommendation be for me to get into FO? Thanks.
Banks will specify on the application, but generally this is restricted to juniors. Yes, depending on the year tons of guys come from summer programs into FT slots.
I'd push for a touch business, audit/AM/corp fin for a few years and then go to b-school to transition into banking, if you can't get IBD out of the gates.
It's certainly possible, just very tough.
mma in spring? can see pics of your ears please
Im a libArts as well...better get on the networking brochacho, especially since you are not an econ major and your gpa is a little low. if your strength is networking take advantage of it...but don't be a tool either
btw: which LA school are you from?
Small school in Maine. Ears aren't bad, MMA has lots of wrestling and grapling, not just toe to toe;-)
Since I don't have any bus/econ background, what about if I took a crap job as an assitant football coach at one of the ivys next year, but was able to audit or take classes non matriculated, and possibly use their career center? Don't know if that would be allowed or if it was, if recruiters would talk to me as I am not a 'real' student from their school and I heard they send alum back to recruit?
Took one science class and got a D+? If I were hiring that would be a red flag to me (not that the people screening resumes would know that, but anyway)... you're not doing quantum physics in IB, but they still look for people with strong analytical skills who are pretty good with numbers. At a minimum I think you should take micro/macro and sign up for the CFA in June 2011 and know the materials by the time interviews roll by, that way if you do get an interview you won't sound like a pylon. How else would you demonstrate on paper (resume) that you actually have any interest in finance?
took a class first semester freshman year called evolutionary biology, thought it would be about darwin etc., turns out to be real heavy statistics and distribution theory, and you should have a stat class first. Took the stat class in junior year and got a B+. Am no rocket scientist, but think I had something like a 680 math SAT, so I think I am OK with numbers.
Anyway, as a senior, not possible for me to take micro macro before I graduate.
So the question I have is, do I take any other job just for a job, do I take micro macro at a community college and inteview again for IB positions in fall of '11? Would it be better for me to try to get a bs job at a top school and audit micro/macro and try to apply from there?
You might think about putting off graduating for another year, Im not expert but taking another year of school filled up with finance/econ-related classes would probably put you in a far better position. It'd also be a way to boost your GPA (just don't play football again). Other options: maybe a business-related Masters degree in econ or accounting (not an MBA) or get a non-IBD job (CorpFin, AM), get into a decent MBA prog, and then go IBD
youre in a really tough spot. networking is your best option, especially if youre as personable as you think you are. im guessing you go to bates/colby and delaying graduation at $50k doesn't make much sense.
being in maine makes networking a little challenging, but you should start sending out emails now to alumni for networking over your winter break. your best bet is probably finding hockey/football alumni from your school. they'll be more sympathetic to your gpa. you could also try cold-emailing other nescac alums as well, especially athletes. they can relate to the challenge of trying to get their foot in the door with a non-target liberal arts degree.
if networking doesn't pan out, non-ib work experience followed by a top b-school is your next best option for getting into banking
Recent liberal arts grad working in BizDev in consumer tech ... how the hell to get into finance/consulting? (Originally Posted: 04/13/2011)
Hi there,
I've been doing a little bit of soul searching the past few months about how I'd like my long-term career to play out and I could really use some advice on how to shift paths and get onto a more traditional finance / consulting path. It's going to be an uphill battle and I think it will require me to go back to school before I'd even have the requisite work experience for an MBA. I'll try to keep things brief here and follow-up with additional info as required.
2009 grad with a BA in a liberal arts major from a Top 25 school according to the USNWR 2011 rankings (just using this as a factual point of reference)
3.7X cumulative GPA, 3.99 GPA in major
8-ish years of part-time / quasi-full time work at a family business throughout HS and college. Had a lot of responsibility at a very early age (but to some extent one of those "had to help out at the family biz to help parents pay the mortgage" kind of scenarios)
undergrad soph year internship in a BD role at a now defunct startup (nothing really substantive in this internship)
undergrad junior+senior year internship (one year's worth) in BD at a "hot" pre-IPO consumer internet startup
current position is in same role, total time at company just under two years. I've been doing well, performing beyond expectations, big unscheduled raise, etc. I have options in the company but nothing groundbreaking or life-changing. Also a 4 year vesting period.
Without going into too much detail, while I've been doing well, the role is turning very much into a sales-y role and less so strategic analysis or guidance for the company. I love the job, have awesome executive exposure and project ownership at a fairly early stage in my career and have started to build a formidable professional network of people many years my senior. That said, I feel like I could be learning a lot more about "business" (finance, strategy, accounting, hard skills) much like a 1st year analyst in a consulting firm or bank would be learning. Given my lack of formal/academic training in skills which I feel will serve me well in the longer-term trajectory of my career, I've been evaluating some of the ways I can get onto a different track.
I've been considering:
1) applying to a management consulting firm.
Note: I've had concrete long-term project ownership which has entailed defining/executing/revising distribution strategy of one of our core products.
2) going back to school for an MBA
Note: I don't think I qualify for an legit MBA program due to lack of work experience
3) Given the constraint in #2, going back to school for a Master's in Finance, Management or Accounting to build up some hard skills and "start from scratch" after graduation to position myself to recruit for consulting/finance/banking gigs
Note: I've been looking at the Duke/UVA programs. These two are not ideal because I'll be too far out of school. Also been looking at the various Master's programs at LSE (these are very attractive to me ... combo of getting skills, strong brand on resume, international/life experience, etc). Also took a look at the Master's in Accounting program at U of Texas. Don't necessarily want to be an accountant but I understand this program can open doors to even consulting/banking and non-accounting jobs.
I can understand that I'm not exactly clear in the type of position I'd actually like to land. I've thrown out consulting and even banking. At a high level, I think something in the consulting/strategy advisory realm would be very interesting for me and I know my current skillset is just not going to cut it. That said, I'll be completely honest in saying that the current company I work for carries a very strong brand name and I think will open many doors for me in the future if coupled with some relevant educational experience.
Appreciate the feedback in advance and if there's anything I can clarify, please let me know.
Clarification on my option #1 (Apply to a management consulting firm) ... the goal would be to lateral into an entry level position at a well known/prestigious firm for 1-2 years and then get the traditional MBA
Clarification: that is a long ass post
MBA
Hello--Liberal Arts moving into Finance (Originally Posted: 07/10/2013)
Hello everyone, I've enjoyed reading WSO for about a month so I finally joined.
I graduated with a liberal arts degree (focused on politics, philosophy, and economics) in May from a small non-target school. I finished my degree in three years with a 3.8 and work experience in nonprofit grant-writing and program management. I got bored of the nonprofit world and at the end of my senior year I started to become interested in finance, but didn't have a good understanding of the possible career paths or any relevant experience. Unfortunately, our college also has a tiny alumni pool and virtually no on-campus recruitment.
I ended up joining an expert network to leverage my research skills, which has helped expose me to analysts and the due diligence process. It's not glamorous, but I'm working to add as much value as I can and build relationships with some of our clients.
Judging from feedback to others on WSO in similar positions, I have a long road to a finance position. In the mean time, I'm teaching myself accounting and basic valuation from textbooks (and reading the WSJ every day). I'm also continuing to evaluate which areas of finance I'm most interested in, which seem to be PE, Equity Research, and credit for distressed companies (GSO Partners).
I'm curious to hear if anyone uses EN's, how valuable they are, and what people dislike/like about the one you use.
Welcome to WSO fellow LAC student!
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