What should I major in to get into investment banking from a non-target school?
Hi everyone.
I'm going to be attending a non-target school next fall (I don't know which school yet but I'm not applying to any top/target schools as my high school performance is not that great at all.) I know it's going to be super hard to get into IB from a non-target, but if I were to put in some effort into networking and internships and such, I was wondering what I should major in to get me the best work experience?
I'm leaning towards economics (as most schools don't offer finance), but I read that finance internship employers look for grades more than anything and I don't know if economics is going to be a hard major? I got a low B- in AP Microeconomics in high school, so I want some advice from any economics majors out here on how hard the classes may be and whether it's possible for me to achieve a good GPA?
If not economics, is majoring in business administration any useful for banking? I want to work towards an MBA from a target school, but I don't know if bus-adm is a good undergrad major.
I also want to make sure I have other (finance related) employment opportunities outside of IB incase I cannot get a good IB job, and I'm not sure if being an economics major opens doors to a lot of jobs in the market. Is this true? Is it hard to stand out as an econ major with average grades?
Should I consider minoring in something to help? Such as computer science or a tech minor?
Any more advice on how to get your foot out into the finance world/ high paying job from a non-target is appreciated. Thanks!
At most schools, a degree in finance isn't worth the paper it's printed on. Economics is better on the scale of perceived difficulty and general usefulness, but if you really want to signal intelligence (and challenge yourself, if you're most people), then you should shoot for a degree in applied math, statistics, and/or computer science. The bonus is that if the whole finance thing doesn't work out, you still have 6-figure job security. Of course, your success in these majors depends on (1) how intelligent you are and (2) how hard you're willing to work.
Thank you for the response. Do you think majoring in econ and minoring in applied math would be beneficial? (for both the finance world and possibly to get job security outside of finance as well) or majoring in applied math and minoring in econ? are either of those combinations any good?
Those combinations are good as long as you're willing to put in the work to get a good GPA. I would also recommend taking at least a couple CS courses. Good luck.
I would tend to agree with dontbugme, with one caveat. I go to a non-target that has a specialized investment banking track. Thanks to that program I was able to land an IB offer. If your preferred school has a specialized banking track within the finance major I would pursue that, but in any other instance, I believe that CS, Math, or Stat are all better majors.
i majored in finance and minored in econ -- econ is hard af and required me to try
if u didnt get an A on a HIGH SCHOOL level class in econ then how can u expect to get decent grades in econ???
If ur anywhere near competent u should be able to get into the business school at ur non target or even better, transferring. Mfers love to say its always possible but let me put it to u straight, chief, because nobody else is gonna tell u this. Ur a schmuck. The belief that somehow u are gonna make it in this world without some extreme luck? That's schmuck talk. Now, get ur hands dirty and fill out the common app again in 2 years because thats what ur gonna have to do.
As a wise man once said - If this is what u want, this is what u gonna get
I'll have to disagree here. Most college classes are easier than AP high school classes because unlike high school teachers, the professors are actually competent, lol.
.
A combination of, 1. the easiest major for you to maintain a 3.7+ and 2. a major that you're actually interested in.
This
For sure grades and major are important, but you have to understand work experience trumps all. If you have someone with a 3.0 but 1 solid IB internship vs a kid with 4.0 and extra curriculars and 0 internships, the employer will go with the kid with the internship. You should aim to have one internship a summer finishing with a junior internship to land a full time offer after your senior year. It's good you are thinking about your future so early on.
Just major in an easy subject like finance or business administration and get the highest GPA you possibly can while networking and attending all the firm events. After interviews and on the job nobody really cares about your major. True learning happens outside of the classroom... if you want to learn comp-sci, put in 5-10 hours per week into learning to code during your 4 years in undergrad... same can be applied to any subject. You won't have to deal with bs tests, obnoxious professors. A couple B- and Cs on grades because you decided to pursue an intellectually stimulating subject at a non-target and you can kiss IB goodbye.
This^ is honestly the advice that never gets told enough
thank you man i think you are correct and this is really helpful. based on all the responses and advice i got i think im going to rule out getting a degree in comp sci all-together and just self study it. i just don't know how helpful/useful a major in bus-adm or finance would be for job security outside of IB as ive read that those majors in most schools dont teach you shit. and as countless days of lurking on this site and others has proved to me, i probably need to make sure i have a plan B just in case IB doesn't work out since im non-target.
It really depends. At some schools, like my school, for example, the finance program has far more opportunities and is better than the Economics program. Many of the top econ majors switch out of economics and major in finance. If you want to do Investment Banking .i.e. Mergers & Acquisition stuff then a degree in finance would be more useful than economics. But both will work. Just don't major in anything stupid.
Many mention Computer Science classes but you are not going to be coding for M&A lol probably sales and trading but not for the boring powerpoint excel stuff in IB.
Just Major in Finance, Econ, a science, engineering or Computer Science. Network. Send Emails.
Goodluck man!
.
Major in something that you're genuinely interested in (apart from completely useless majors like gender studies). In my experience, those who tend to do well academically are those who actually enjoy what they are studying. If you love physics, chances are you're willing to put a lot of time into the coursework and get more involved outside of the classroom (e.g., research, academic clubs, etc.).
Based on your high school econ GPA, it sounds like economics isn't something you're that interested in. While the curriculum for a BA in economics is fairly easy (I'm an econ major myself), it's going to be hell if you can't stand what you're learning.
I'm still in university so take this with a grain of salt. But I'm an economics major that goes to a semi-target state school. I chose economics because I didn't really know what I wanted to do and now I regret it. It really doesn't matter what you major in as long as it's quantitative. I'll tell you right now stay away from computer science or engineering. Your grades will suffer because of the tough coursework. Looking back I would of just chosen finance, since my school has the option to concentrate in corporate finance and investment analysis. Econ is generally harder because it's mainly theoretical and unpractical. At the college level you're doing lots of algebra and calculus to account for different variables in the economy. Depending on the school, and the type of degree (B.S) you have to take at least 3 calculus classes. Finance is more practical and straightforward. If you don't know exactly what you want to do after graduation, major in economics because it's not very specialized and you can end up anywhere. If you know exactly what you want to do, go to a school that has a good business school/finance major and minor in economics. Also, just accept that your school WILL teach you unpractical garbage and not prepare you with everything you need to know to get a job. It's up to you to study on the side to develop your modeling skills and knowledge to break into banking.
isn't the thing about majoring in finance make or break since it's so competitive? like if you cant land good internships and network and get offers (and attend a prestigious school), your degree is essentially useless?
there are crappy entry level finance jobs that people can get into and work their way up in. just as how not everyone interested in CS is getting into GOOG or FB - a lot end up doing crappy enterprise dev work in an IT department somewhere.
There are a few threads posted by people who became success stories from non-targets over the years.
Here's the general following -
In this case, it's a pretty simple rule really. Score the best GPA you can, network/cold call, and study well (case studies(?) and/or subjects in finance/CFA), and the behavior of persistence in not giving up will land you well in a few interviews. The rest are in your hands.
Good luck!
Et illo eveniet quis ipsa qui corporis. Omnis nisi deleniti labore aut vitae quod. Et quas ipsum doloremque aut ea ut et. Eaque eaque pariatur ullam eligendi. Est cum voluptate consequatur recusandae deleniti consequuntur eveniet.
Eaque similique sapiente tempore omnis ab quo ab. Nam quos est vitae rerum quae ea sit minus. Est quod repellat commodi quidem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quia enim consequatur ducimus. Doloribus nobis laudantium est libero officia aut repellendus tenetur. Eum asperiores sit eligendi eos. Animi maxime qui accusamus error alias. Est nesciunt nesciunt quae. Iusto incidunt architecto optio voluptas vero quia.
Id ipsum eos aliquam praesentium cum velit blanditiis et. Voluptas nostrum dolorum eos minima.
Mollitia aut unde qui doloremque. Labore ut est voluptatibus adipisci. Esse eos impedit doloribus autem eligendi. Exercitationem eos qui dicta autem debitis quae dolorum. Illo temporibus dolor quam vitae sunt asperiores.
Deleniti quo exercitationem aut esse eaque eaque est. Enim quo ipsam sit eum quis rerum. Nostrum omnis sunt provident ea sint. Voluptatem sint corporis laborum aspernatur quos.