It seems to me that quantitative degrees in subjects like math or stats is preferred by both MBB and IB. It also opens doors in the realm of quantitative finance. As a firstyear business student with a newfound interest in STEM subjects is there any downside to switching to studying for example math? Given that i can still get good grades.
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A STEM degree is much more valuable, versatile, and will help you stand out more IMO -- I had an no problems recruiting with a math degree and I'm fairly confident it was a net positive (caveat being I'm in S&T, which is fundamentally more quantitative). In practical terms, a math major can catch up to a business major in 3-4 weeks of actual on-the-job learning. The converse is not at all true. If you do go that route, just take Micro/Macro, an accounting class, maybe one class in intro to finance, and you'll be fine.
Hey thanks for the helpful response! Is your impression that IBD values STEM degrees highly aswell? Do you work as a quant in S&T or did you consider going into the quant field?
I think as long as you can simultaneously demonstrate interest in the markets, and some amount of technical knowledge (through clubs, internship experience, coursework, self-study), the math degree is at best an advantage and at worst neutral.
I'm not in a quant role - typically, the true pure quant roles prefer a master's or PhD, but the line between quant and non-quant is getting a bit more blurred. Math and programming are pretty important skills for any role in S&T if you want to stay flexible as the industry changes.
I’ll jump in, I’m doing a BS in Mathematics and just landed gig at an EB from non-target/non-diversity.
I would second everything said above and add on that in my experience it provides a certain confidence to interviewers that you are smart/can grind enough to do banking. ESPECIALLY from a non-target. Can’t express enough the difference it made and the credibility it helped establish when competing against Target Business kids.
Again, as above, just take some ACCT, ECON, and FINA as electives and you’ll be solid. Those classes + the BIWS 500 Q&A was enough for me.
Thanks for the response! would you say that school prestige matters less when studying STEM compared to business/finance?
100% yes. The majority of value from a BBA is the network you develop/get from from your alma mater. At a non-target that benefit is diminished. The majority of value from a BS is the tangible skillset you get. Don't get me wrong, you need accounting & finance fundamentals in your toolkit, but if you can do multivariate statistics, then bond math etc. should be a breeze.
I'm definitely biased, but if you're at a non-target/semi-target and non-diversity, I think STEM helps significantly.
As an engineering major and PE investor now I can tell you that either path is fine. Math majors or engineering majors aren't better just for the sake of the degree. In fact a finance major is arguably a safer bet if I'm hiring. However, I do think that STEM majors statistically indicate higher intellectual caliber. But if someone isn't inclined toward that naturally and just forces themselves into it... They'll just end up with a shitty GPA. So do what you're most interest in! As long as it's not some bullshit degree I mean.
Great advice! But i am curious as to why you consider finance a safer bet when you have a STEM background yourself?
I think of it as a risk reward tradeoff. They'll have a finance degree and know the basics of accounting and whatnot and probably be a little more polished in communication. Engineer might have more upside just from intellectual horsepower after he gets the hang of accounting and learns to dress and speak properly.
As long as you can keep your GPA up. Going to be a lot harder to have fun and maintain a 3.5+ in some STEM majors. I double majored in Chem Eng and Applied Math and had fun, ended up with a 3.2.
Yes. STEM provides so much optionality
STEM is a fucking grind tho buddy make sure you gots the chops or you're in for a world of hurt
Neutral to slight positive I'd say. If someone can do STEM and still pass on tough finance and accounting questions to me that's a huge positive as it demonstrates their ability and willingness to learn outside of school curriculum. I know others who view that in a more neutral light and then there are the STEM kids who bomb on technicals, which is a big negative to me.
I see, do you think its an advantage for getting to the interview stage?
For me, no, because I have no idea which kind of candidate you are. A STEM graduate who thinks I will be easy on them for finance/accounting technicals is worthless and I'm going to kill the interview after 5 minutes, one that does just as well as a finance major is almost a guaranteed offer. Totally binary outcome and I know that going in.
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