Is it worth switching from finance with bad grades to history if I can improve my GPA?
All through high school I took math courses and did them in advance in the summer before the school year. Managed to get 95% and AEO status for IVEY for BMOS(Finance: for non uwo audience). My GPA tanked first and 2nd year by a lot due to the way university was structured. To be able to finish courses all at once would require time and space, which uni does not offer due to deadlines in between. Regardless, I tried this strategy for 2 years trying to practice as much course work. I neglected my own health, friends and did not land an internship at any small P/E firm or startup. I then realized that though school degree is important, giving you a job is a risk for an employer, as they will have to train you. IVEY is an honors program which recruits heavily from IB and PE in the US(Evercore,HL,etc), however due to my GPA in first two years making me a C student, I will most likely not be getting in as IVEY needs an 80 minimum with AEO instead of an 83( yeah, AEO is a scam).
However I took some history courses where I started achieving high grades due to heavy reading I picked up in spare time. This summer I will be learning financial modelling( Trading comps, Trans Comps, DCF, M&A Consequence, Restructuring ,etc). However knowing the competitive landscape, is it worth switching into History for better grades from finance? I will really amplify my networking to land a job in boutique firms to use as stepping stones, but it would be great if I can get some practical advice on this switch, as it is a major turn in my career.
Dumb question - why do you want to do IB/PE when you are struggling so much in finance courses? Intro finance is pretty basic and this will probably not be a career you enjoy if you're a C student to start off. Don't chase this type of career just for prestige because it sounds like you will just hate it
Many analysts and seniors that I have networked with in the past in IB positions have mentioned that the work of an analyst has been financial modelling at its foundation. Valuing companies, looking at transactions, and answering the simple yet complex question of "How much is this business worth?". None of these skills are taught in intricate details across finance courses. Exams are rinse and repeat in a nutshell- Memorization. They also mentioned that a high GPA shows you have work ethic, thats it. Given you prove that, firms will give you an opportunity, a job. How much of economic jargon that you learn in university courses actually help you in performing a good job?
It's different than memorization tests, but you use financial concepts, formulas, and economic jargon all the time in the job.
It just sounds like you are romanticizing this concept of valuing a company and financial modeling. At its core it is 1) Not fun or big-picture like you think it is and 2) Very similar to finance curriculum. The basic DCF, WACC, and valuation concepts you learn in those classes are 80% of an analyst's role, just on Excel instead of paper.
Not trying to discourage you here, just most analysts enjoy and excel at finance classes and not doing so is an indicator you might not like this type of role.
Thanks for your candidness. I was just curious if I can get certifications like the CFA ,CFM or CIM and do a history major to increase my GPA. In other words, learn what is taught in these finance courses in practical sense without getting a finance degree. What is your opinion on this?
The CFA won’t be any easier than any of the classes you’re struggling in. Just essentially a condensed version of the same information you’re already struggling with thrown into one exam. If you know you want to do finance just go the finance route and learn what you need to. To echo what the previous poster said, I don’t really see how you plan on succeeding if you are struggling to get by in intro finance courses to the point where you need to switch your major. I majored in CS but did finance and knew people that did other things as well but it’s not like I switched out because I was failing finance courses or didn’t think I could handle them. I would take a long hard look and assess what you really would like to do in the future. Majoring in History with a transcript showing you couldn’t hack it in finance courses is not a recipe for success imo. Not to mention all the extra work you’ll have to do to catch up on finance topics missed. I had to do the same in my spare time to prep for interviews and it sucked
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