What majors/minors could I combine with finance to increase my chances at getting a job in finance
I'm going to be a freshman at a non target school (university of Maryland college park) and I wanted to major in finance. after browsing reddit( financial career subreddit) and WSO I saw discussions stating that getting a degree in finance from a non major is useless and is only valued at Targets/semi targets. Is this true? If so, what majors/minors should I combine with finance to increase my chances at getting a good/decent job in corporate finance (corporate career)? I don't really want to work on Wall Street but would still would love to possibly have a job that can provide a upper middle class life
Double majoring in a STEM field would help you stand out. Additionally, if you decide against pursuing a career in finance you'll have something else to fall back to. It's definitely not necessary, and I would suggest that your focus should be GPA-oriented.
Is Econ a good major to do or should I minor in it?
I'm an econ major and I enjoy it. I think it's pretty useful and the classes are pretty easy. A lot of schools don't have business undergraduate programs which limits your options.
CS
Will it take longer to graduate if I did this?
just major in finance and focus on networking and getting a super high gpa
edit: that's the best hope to get into IB. if you really don't want to do IB, then agreed major in CS
I agree. This is probably your best path for IB.
Would Econ be a good major/minor to add? I was wondering because I heard they have similar classes
it really doesn't matter much, having a GPA near 4.0 is what does for you
Consider trying to transfer into a semi-target/target. A lot of em are transfer friendly (Cornell notably), I'd say at the very least look into it if you'd be willing to transfer.
Agree with the overall idea, but Cornell's transfer stats are misleading.
A lot of the transfers are New York students studying at SUNY schools who have special pipelines to get into Cornell after two years.
Gotcha, thanks for pointing that out.
I don't think I can afford such a school honestly tuition is too much
I would say Cornell is not internal transfer friendly but I would say it is external transfer friendly.
MIS
Would information system work also?
Whichever major you can get the highest GPA in. That is what gets you knocked out of a resume drop. You can study anything, just show an intense interest in it, crush the GPA and tell the employer that during your junior year you realized you wanted to take you career more toward the business side though you were very interested in psychology coming into college and by the time you realized you wanted to study finance it was too late to switch. Then just take a couple really hard accounting or finance classes your junior or senior year and get As in them and take some classes on BIWS and you'll have a competitive shot assuming a decent network.
Spot on, GPA is such an big & easy boost to your resume
yeah except then you'd have to explain you were a psychology major your whole life...
I'm actually trying to major in finance or Econ from the get go, I'm just wondering if a Econ (BS) major from a non target would be able to land a finance job the same as a finance major? What I'm basically saying is Econ (BS or BA) good in job prospects straight out of undergrad? I don't want to get a masters or Phd just to get my first Job
Finance and CS or MIS.
Would it on average take longer to graduate?
Yes, you are doing a second degree. The quickest options in terms of graduating with a second degree would be accounting or economics. If not doing a tech based second degree I would then do accounting as well. As others have posted one degree with a high GPA is about ideal. If you have two with a high GPA it does open more opportunities assuming they have some separate skills (is Finance and CS).
Agree. Having a great GPA combined with a relevant degree (STEM/finance/econ/business) makes it much easier to get into any firm than without one. It does not guarantee a job, but makes the job search that much easier on you.
Best option: major in finance, minor in CS.
Would majoring in economics(BS) be bad in terms of trying to get a job in finance right after undergrad? If I were to major in Econ would it be wise to double major in statistics or minor in it?
A double major sounds good, but usually doesn't work out that well for your GPA. If you're going for IBD, I would recommend against it, since the value-add for the effort isn't going to be that great. S&T? Works well.
I mean its not a complete non-target its still a decent school. End of the day if you want to get into corp finance major in finance and get a high gpa
Or accounting too. Big 4 recruits at UM College Park
Pros of Finance Major: Easy to get over 3.8+ GPA
Cons of Finance Major: You will NOT stimulate your mind You will NOT learn anything truly useful (USEFUL ALTERNATIVES: Humanities like english or philosophy will foster logical thinking, understanding of the human condition, reading, and writing; Quantitative majors like CompSci, Math, Statistics, Engineering will foster logical thinking and are more transferable to performing in operational roles in business; Accounting(The one useful business major) will teach you how to read financial statements, understand businesses from a "numbers" perspective, and in general spot the bullshit in financial models or investment theses produced by Finance majors
Side Note: Regardless of your major in college, you should always seek other ways to "expand your horizons" and "learn practical skills". If you need your hand held through an organized curriculum in order to accomplish those 2 things, then you probably suck in general. But the aforementioned fields of study undoubtedly facilitate those 2 goals more so than does Finance. Whether or not it will be easier to get a high GPA is a different story.
Neutral: Employers will see Bachelor's in Finance on your resume and be like "meh"
I never understand why people try to game the system with their major. Interested in working in finance? Major in finance. Econ works too, and has a slightly more esoteric curriculum (more big picture / theoretical than vocational).
Employers who are seeking a finance candidate will see a finance major on your resume and be like, "ok cool seems qualified". Also, after you get your first job no one will ask you about what you majored in every again (unless you apply to b-school). You should minor in something you're interested in, and potentially lines up with the corp fin job you're targetting. Example, want to work in pharma? Minor in chemistry, so that way when your interviewer says "Why don't you want to do financial planning at BigPharma, Inc." You can say, "well, I've always been interested in it, hence my chem minor". Hint: This only works if you're actually interested in the thing.
UMD-College Park is fine for corporate finance rotational programs. No need to transfer if you don't have a lofty goal (IB, MBB, etc.). You'll probably do the best regionally (mid-alantic and new england), so think of a few big companies in the area you want to live in and search for alumni on linkedin.
I truly want to do either finance or Econ at the moment but I'm not sure how the job market is for Econ majors straight out of undergrad in the finance world
Well, I was an econ major and went into IBD following undergrad. It's perceived extremely similarly, especially since a lot of top universities (LACs, a handful of ivies) don't have finance majors, they have econ majors. I paired it with math, which hurt my GPA a lot (hurt me in recruiting) but was intellectually very fulfilling and definitely shows that I'm smart. I second my recommendation of letting the minor choose you - i.e. something you're really interested in, so that can guide you in recruiting, especially in corporate finance. You could minor in CS and tell a good story about why you want to work in tech, or chem for pharma, etc. A lot of the advice on this thread is very specific to IB, which I don't think is what you're looking for. Having an EXACT pedigree matters a lot less in corporate finance.
I graduated from UMD.
I'd advise AGAINST taking a second major if it's going to be outside of the Smith School. (Unless you are genuinely interested and/or talented)
UMD sends a handful of kids to Front Office roles at BBs every year. They get the jobs because they are very bright kids who are good at networking, not because they triple majored in Finance/Engineering/Physics.
NOBODY does a CS + Business Major at UMD. Single Major CS students at UMD typically don't graduate in 4 years. The coursework is not similar at all. If you're going to try to do that AND Finance, you're more than likely going to fuck your GPA and not have a shot at a good career in either field.
Economics at UMD is really weak. It's not a Limited Enrollment Program like Smith, and the caliber of your professors and classmates really shows. You also will not have access to Smith Career Resources, which can easily get you hired at some kind of role at a major company. Compare it to an even more drastic version of NYU Stern vs NYU CAS.
Your best bet is to take two majors inside the Smith School. There's so much overlap in the prerequisites that unless you're planning to graduate in 3 years, it'd almost be a bad idea not to double major.
I particularly recommend:
Finance/Accounting Finance/Supply Chain Marketing/Supply Chain
If you've got a decent GPA, hiresmith pretty much guarantees you a job.
Thank you for this. I thought Econ would be a good p major to pair with finance since everyone says their similar
Late response, but it probably is a good idea at other schools. Not at UMD, as it's basically the business major for people who didn't make it into the business school.
That being said, there are some people who pair it, but it's really not necessary.
Choosing a minor with a Finance major (Originally Posted: 01/05/2017)
Hi Everyone!
I am currently an undergrad with a Finance major. Last semester I declared Economics as my minor. However, I have been having doubts about it.
In the process of declaring my major as Finance, I have had to take several basic Economics courses. I believe taking Economics will be an easy route and will subsequently help me maintain a healthy GPA. However, it will also overlap with various courses I have already taken.
The other option for minor is Mathematics. Having talked to professionals, I have understood the immense value of the subject especially with respect to quantitative Finance. However, it will be a hard route to take and might hamper my GPA.
Is it worth having Mathematics as my minor over Economics even if there is a trade-off involved with respect to higher GPA?
Thank you.
I'd personally pair a finance major with accounting. I think that having a strong grasp of accounting is often overlooked - it's super useful for M&A / PE based roles as well as corpfin gigs - basically, anything that requires you to model or understand what a financial statement is saying. The finance major will help for public markets-stuff. I would also maximise the GPA, and consequently pick subjects that would enable you to do that - I think both finance and accounting are doable but that's pretty subjective. I think finance wth econ also works, the econ bit will give you a macro understanding of how everything works. Whilst CS is a useful area to study given how hot fintech etc is, I'd only take it if you are confident that it won't hinder your GPA (it's possible to study things like programming outside of university as a side interest after all).
Whatever you think you will learn the most from
Just take something you're going to enjoy and that you're genuinely interested in, no employer is going to give you a job solely based off of your minor.
I took international relations as a minor and I found it to be amazingly interesting. My most favorite professor was in the poli-sci school and I took three of his classes because every day I came away with a new perspective and I apply what I learned in his classes to almost every news story I read. IR was great as a minor to teach critical thinking, something that I don't know if finance necessarily stresses.
Find something that your passionate about and do good in the classes, you've got nothing to worry about.
Your best bet for a minor is something like music or theatre, especially if you can come out with a solid GPA and all other credentials are a good fit.
Engineering. Mechanical, computer, electrical, industrial... it's going to get you respect.
Minor - Junior majoring in finance (Originally Posted: 09/06/2012)
I am a junior majoring in finance. I am pursuing a career in investment banking, will a minor in accounting provide me with some leverage to getting into banking?
No. Minor in networking.
If you're considering minor in accounting, might as well double major.
If you're against double major, minor in math of CS to stand out. A minor in accounting will go you no good. It won't help get in in a bank and it won't help you get an accounting job.
in my opinion I would say dont assume you need something like econ. I did something totally out of left field, people found it interesting. I know people with non-finance majors that perform just as well as the rest of us if not better. be aware of generalizations and weigh your options carefully.
I also say, in my opinion, that I personally dont necessarily agree that a 4.0/4.0 means jobs will be handed to you on a silver platter. that isnt the case from what I know from friends / classmates. I can also tell you first-hand that some interviewees look beyond GPA and look at your character - volunteering, your background, etc. not everything is binary, people aren't binary. GPA is very, very important but it is a single factor among a lot. those are my two cents, dont have to agree with me.
College Minors for student looking to pursue finance (Originally Posted: 10/23/2014)
Hi All,
Sophomore at a target school here wondering if minors really matter to employers. None of my school's minors really interest me and I was thinking about not minoring in anything at all. Could that possibly hurt me, or do employers not really care for the most part?
You don't need a minor to fill up your credits - you can just take random classes usually.
To OP, minors don't really matter unless they're interesting. If you're a finance major, minoring in economics isn't very interesting - no one cares. However, if you're a finance major and your minor is something off the beaten path like ecology, then that's interesting and might set you apart a bit. If nothing interests you, then I wouldn't go out of my way to do it though.
College Minor for student looking to pursue finance (Originally Posted: 10/23/2014)
Hi All,
Sophomore at a target school here wondering if minors really matter to employers. None of my school's minors really interest me and I was thinking about not minoring in anything at all. Could that possibly hurt me, or do employers not really care for the most part?
They won't care about your minor unless it something like Finance, or Math.
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