Interested in Data+finance -> IB? Mgmt Consultant?

Water HippoeWWW's picture
Rank: Monkey | 30

I'm interested in Big data+finance and considering making a job of mgmt consultant.
I like analyzing data, using my knowledge in finance, and doing presentation in front of others with my analysis+own solutions.
I've also considered Trader, but i'm kind of talkative so i think it won't fit in me. M&A field is...i don't know they use big data/AI programs.

1.
Is it correct that mgmt consultants do those things?

2.
Is there any case mgmt consultant -> Hedge Fund?(I'm interested in this field, too.)

3.
Entry level - Undergrduated degree in business statistics + some credits with R, other basic programming -> enough?
Is there other major/course that you recommend?

Comments (19)

Jul 11, 2019

First of all, great to hear you're ambitious and interested in lots of different areas of financial services...just so I can better cater my advice to you, can I have a little background such as if you're currently enrolled in college, recently graduated, etc. Don't need to provide too much specifics, just need to know your stage in career path so I can better recommend what you should be doing rn to prepare

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Jul 11, 2019

Thanks for replying:)
Actually, i'm an international student and freshman in my country's university.(Non-Business major)
and i'm planning to enter university in America as freshman again, with another major.
There are a few months before deadline, so i'm gathering info as much as i can for choosing where i go and what major i'll take.(Because i'm not certain about major, i didn't apply yet.)

Water

Jul 11, 2019

Great to hear, wonderful that you're already thinking about your career path as a freshman (I really didn't start until halfway through sophomore year so recruiting was much more challenging). Personally, I'd recommend finance as your primary major just because its super helpful having a finance background if you're interested in financial services industry. That being said, you can having any background going into consulting, you just need to be a great critical thinker and do well at the case interviews. If you do choose finance, take as many programming/data related electives as that always helps regardless of career choice, you could even pick up a data analytics minor or double major if that's an option. But anyways, as a freshman you still have time, so keep researching what you're interested in as you clearly have been doing, and most importantly get involved in any business related clubs on your campus. I did a case competition for Deloitte when I was an undergraduate, and that was a great experience that got me interested in consulting. At your stage there's no need to set a definite career choice, so just get involved in everything business related to start building your resume. If possible, snag an internship or some summer program related to these fields, it's challenging as a freshman but just reach out to people via email and sometimes they'll be willing to help

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Jul 11, 2019

In regards to consulting, consulting does have a big data/computer science side as well as the traditional strategy and operations...unsure about exits to HF, to do that you could probably pick up an MSF after consulting and make the exit over. Great exits to PE if you're at all interested in that, hope this helps, let me know if you have any other questions or if I missed something

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Jul 11, 2019

Does mgmt consultant do - data, finance, presentation+talk with others?
I'm curious if there is wonderful job that suits me a lot.(above those characteristics)
And as job related to finance, i know it's hard, but i want to know if those jobs are involved in STEM. There needs some change in my plan if they don't, because of OPT term.

Water

Jul 13, 2019

I have similar interests in terms of data analytics/stats and finance. I am currently interning at a commodity shop and have found that it's a good blend of analytics and talking to people. In general it isnt super analytics/modeling heavy but theres a lot of data out there to use.

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Jul 13, 2019

Did you take a course in statistics/data analysis?

Water

Jul 14, 2019

I have taken a few courses in stats and am self studying R

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Most Helpful
Jul 14, 2019

I'm going to answer the heart of the set of questions about what an ideal background looks like if you want a range of opportunities in your early career.

Do a data science oriented major and become a consultant and the world will open to you. It's kind of repetitive but true that the world is becoming more data oriented. If you can uncover insights, present your findings, drive results, and understand and model the financial impact of your findings at a corporate, product, sales, and operational level you will be unstoppable.

I have not come across anyone with a complete skillset that encompasses all of these skills but a data analysis and consulting background with a wide range of experiences that also includes financial oriented projects would come closest to this ideal background.

A person that has this background would be great for any role, and I'd hire them immediately given that they have social skills and are intelligent.

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Jul 14, 2019

Thank you for replying.

Water

Jul 14, 2019

Also be very mindful of the differentiation between data analyst and data scientist. Completely different jobs

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Jul 15, 2019

depends.

there's been a large shift by tech companies to rename analytics into "data science" and data science into "research".

i.e. one does exploratory analysis, dashboarding, uses models to explore data etc the other builds inference models, ML models, algorithms and various other predictive techniques.

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Jul 14, 2019
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