NTers majoring in Economics or Finance....

curiousgeorg3

curiousgeorg3

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Feb 6, 2009
So I was thinking about majoring in economics and finance awhile back before the world turned upside down, but now Im thinking of making switch to Engineering.I had a genuine interest in Economics too, just dont want to be competing against people with MBAs and 10+ years experience for the same job after I graduate.

How are other Nt financiers and economists coping?

Are you sticking with your major?

Expectations after graduation?
 
I actually double-degreed in both, Economics and Finance, looking to join both NT teams so just let me know what the sig looks like.
 
From a career standpoint, engineering may be the best major if you graduate in 2009 or 2010. If you graduate after that, then things should be much better fornew econ and finance grads. It is true that things are tough, it is tough enough transitioning from an undergrad to a white collar professional but this jobmarket is absolutely abysmal and it is the worst job market, for new college grads, in history.

I double majored in Econ and History and gradated in 2008. I have been able to get a job but it is in support role at my cousin's wealth management firm. Iwas hoping to get a job as a financial analyst, which is sort of the first rung on the ladder that eventually can lead to being an executive.

Majoring in engineering is great because engineering grads are having the best time in this job market and when things get back to normal, you could get intofinance. Because of the math and logical thinking involved, many quantitative analysts are people who majored in engineering. If you ultimate goal is a careerin finance, stick with engineering and minor in econ and/or just read some of the works from the greats in economics, like Hayek and Mises. Math is veryimportant in finance but it helps to know some fundamentals of economics so as to avoid having your otherwise great investment model blindsided, as has beenthe case this last year or so.


BTW, randomhero, if you want to join the team, there is no set form for the sig, so make one that you like.
 
Not to thread Jack but is anyone else out there either Philosophy or Political Science majors I feel like I'm the only one on this board.
 
I'm getting an econ degree. Graduating in 2010. I'm not worried, but that's prob because I know a few people who can hook me up with jobs or giveme good recommendations. Worst comes to worst I'll get a temp job and take the extra 6 accountign specific classes over 2 extra semesters and get anaccounting degree from my school too.
 
Originally Posted by BCF06

So in all honesty should I be worried being a finance major.
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I don't think so. But don't be expecting those same type of fat bonus checks people were getting before. Like ever, unless you can become a boardmember or have out of this world performance.
 
Good to hear. I'm a sophmore going to be Junior next year and I was just wondering what you all thought. If it doesnt look to well I dont mindstarting at the bottom but I'm trying to get my foot in the door somewhere right now even if it is just a clerical position.
 
Go for it, you should be fine. Any job is hard to find right now, but when you graduate in a few years things should be on the uprise. I am considering goingthe accounting route and getting my CPA.
 
Graduated Penn State this past December with a degree in Economics... have not even had an interview or call back yet on any applications I've sent out.This was after being told economics undergrads have one of the highest placements out of college of any major, and were the highest paid 4 year degree out ofcollege as well.

Now - most of this, I'm hoping... is due to the economy. You have a bad job market to begin with, but I'm also competing for jobs that people who werelaid off are now applying to (and probably getting way before me due to their experience vs mine) also - so it's probably 3 or 4 times worse forinexperienced job seekers right now than even the numbers are saying.

It's frustrating and I regret how much money I spent on my education - but I'm proud of myself for getting through what I think was a challengingdegree in one piece, and I just hope that someday it reaps some sort of benefit for me. I came to the decision about 3/4 of the way through school that thetype of work I want to do probably doesn't require a degree of any sort, but was so far invested that i just finished up. Now I'm to the point where Iwant to use my degree to get a job in the financial sector somewhere to pay off my tremendous debts and eventually begin saving some money so I can eventuallyopen my own business of some sort someday... years and years and years from now.

Until then.. it sucks.

My advice to you? Figure out what you want to do in life before getting tens of thousands of dollars in debt just wandering through life.
 
I know what I want to do, but my undergraduate degree means nothing, I just want to go to grad school.
 
Originally Posted by Craftsy21

Graduated Penn State this past December with a degree in Economics... have not even had an interview or call back yet on any applications I've sent out. This was after being told economics undergrads have one of the highest placements out of college of any major, and were the highest paid 4 year degree out of college as well.

Now - most of this, I'm hoping... is due to the economy. You have a bad job market to begin with, but I'm also competing for jobs that people who were laid off are now applying to (and probably getting way before me due to their experience vs mine) also - so it's probably 3 or 4 times worse for inexperienced job seekers right now than even the numbers are saying.

It's frustrating and I regret how much money I spent on my education - but I'm proud of myself for getting through what I think was a challenging degree in one piece, and I just hope that someday it reaps some sort of benefit for me. I came to the decision about 3/4 of the way through school that the type of work I want to do probably doesn't require a degree of any sort, but was so far invested that i just finished up. Now I'm to the point where I want to use my degree to get a job in the financial sector somewhere to pay off my tremendous debts and eventually begin saving some money so I can eventually open my own business of some sort someday... years and years and years from now.

Until then.. it sucks.

My advice to you? Figure out what you want to do in life before getting tens of thousands of dollars in debt just wandering through life.
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This all depends on where you live. I'm from NYC. Jobs are still attainable here with the right connections and luck. Hell if I were you,since you are doing nothing is get your MBA. This way when the economy will be on the rebonde you'll have a leg up on everyone else. One thing professorsand advisers at my univ are stressing is to stay in school for as long as you can at this point. Get as much of an education you can and try to get a graduatedegree. This way you are set and have a step above everyone else when everything will be rising.
 
Originally Posted by Rexanglorum


Majoring in engineering is great because engineering grads are having the best time in this job market and when things get back to normal, you could get into finance. Because of the math and logical thinking involved, many quantitative analysts are people who majored in engineering. If you ultimate goal is a career in finance, stick with engineering and minor in econ and/or just read some of the works from the greats in economics, like Hayek and Mises. Math is very important in finance but it helps to know some fundamentals of economics so as to avoid having your otherwise great investment model blindsided, as has been the case this last year or so.
Click to expand...


Thats actually what had thinking if I do go into engineering, a minor or double major in economics to go along with it.
 
Majored in Finance, graduated in May. It took me 5 months to find a job but I turned down a couple lesser opportunities. I'm a financial analyst at a bigpharma co. Job market is buns right now, the whole industry is changing. If you are passionate about anything, you will do well. Only do it if you actually arereally interested in it. Keep up with the news and know what you are talking about. Internships are key. I didn't get the job I wanted where I interned at,but the internship led to my current job as it looked great on the resume.

If you are not genuinely interested in finance then I think engineering is less sensitive to swings in the economy...
 
There's always grad school.

I'm actually pursuing a B.S in Management Science/Econ and will apply for Law school after I graduate.
 
CuriousGeorg3 wrote:
Originally Posted by Rexanglorum


Majoring in engineering is great because engineering grads are having the best time in this job market and when things get back to normal, you could get into finance. Because of the math and logical thinking involved, many quantitative analysts are people who majored in engineering. If you ultimate goal is a career in finance, stick with engineering and minor in econ and/or just read some of the works from the greats in economics, like Hayek and Mises. Math is very important in finance but it helps to know some fundamentals of economics so as to avoid having your otherwise great investment model blindsided, as has been the case this last year or so.
Click to expand...


Thats actually what had thinking if I do go into engineering, a minor or double major in economics to go along with it.


God help you if you double major. Engineering is hard, looked at some of the most detailed syllabi for engineering classes and they were tough. The practiceproblems for the exams were no joke. I believe that I could have majored in engineering. It would have been even harder to double major in Econ. Econ is a bitless intense if you had to double in both, you would maybe be overwhelmed.

Minoring in econ is good because again, you get a degree that is good in the labor market today but it also gives you the foundation to not make boneheadedmistakes about basic economics and let that kill your well constructed hedging model.
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Started with econ...got tired of the Keynesian trash finished up in finance. I want to be an analyst and have actively been applying got some good looks but nobites....yet.

I wouldnt recommend going into this industry unless you are good at it/love it. There is no industry with more overcapacity then the FIRE industry.

With that said....economics has some real practical value if you are able to abstract and apply the concepts you learn.
 
ill say finance degree will take you farther these days than just a eco degree...financial analysts will always be needed...i took the accounting route..aboutto be done then ill get to work on getting my cpa...cpa's can always find work
 
Originally Posted by Crumbs

ill say finance degree will take you farther these days than just a eco degree...financial analysts will always be needed...i took the accounting route..about to be done then ill get to work on getting my cpa...cpa's can always find work
Click to expand...

They will always be needed but at what prices? I am willing to bet their wages are about to experience some serious deflation because there is going to be aincrease in supply and probably a decrease or flat demand. If you are investing x amount of thousand dollars in your education you want to get a positivereturn not a negative one. People with finance degrees are going to have 0 leverage because its going to be a race to the bottom as the industry contracts.

Accounting is much much more attractive from a financial standpoint IMO. There is going to be a surge in their demand after the financial industry getsoverhauled. I wish I liked accounting.
 
Originally Posted by theone2401

Originally Posted by Crumbs

ill say finance degree will take you farther these days than just a eco degree...financial analysts will always be needed...i took the accounting route..about to be done then ill get to work on getting my cpa...cpa's can always find work
Click to expand...

They will always be needed but at what prices? I am willing to bet their wages are about to experience some serious deflation because there is going to be a increase in supply and probably a decrease or flat demand. If you are investing x amount of thousand dollars in your education you want to get a positive return not a negative one. People with finance degrees are going to have 0 leverage because its going to be a race to the bottom as the industry contracts.

Accounting is much much more attractive from a financial standpoint IMO. There is going to be a surge in their demand after the financial industry gets overhauled. I wish I liked accounting.
Click to expand...


The market is saturated with people from the finance industry that lost their jobs. You have to compete with all the people from these major banks that lostjobs.
 
im a finance major, i thought about switching but i really want to do finance so im just gunna stick with it
 
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