Majored in Finance and Economics. Graduated back in 2020 and went into investment banking and now currently work in private equity. The money is amazing.
@@rayfym best of luck. My suggestion is pick up a 2nd major. Will help you stand out. Also, don’t underestimate how important accounting is. If you have strong accounting skills you can graduate making 6-figures easily.
“It’s how you go to college, not where you go to college” - by far my line this! So many get it twisted and seek the brand but once they achieve that they don’t maximize the opportunity.
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
Tbf it is 100 percent the brand name. How you going matters. But like target school… finance oddly really cares about prestige. I would shell extra money to go to a good school to break into IB or another lucrative finance career. Cause think about it. Anyone can do excel stuff. They hire like this to justify their fees really
@@wallstreetzoomerthat’s true but if u go to a Semi u could break into MM IB or Inbetween ish Banks. MM PE if ur really good. Theres also other finance roles or just in general going to a good school is just always better honestly.
I got my degree in finance and worked in fintech operations in institutional banking and it was a great experience. The bank paid $5k a year for tuition and I thought about pursuing my MBA, but my boss had asked me why would I want to do that. He told me the president of institutional banking made $12 MM a year and only had a bachelors in finance and all you needed was the right network, your foot in the door, and work hard. I already had the right network, my foot in the door, and I work hard. I realized MBA is really more for the folks who had a hard time with those two steps in the financial world. Maybe one day, I’ll pursue it if the future company I work for pays for all of it, but I refuse to go in any debt for it. Interesting take.
20 30 years ago you can get away with a bachelor's. Nowadays, you need experience and higher ED. In my state Masters sre needed to even be considered unless you have ALOT of experience. So I'd say it's important for new people trying to get into the industry.
@@denko44 Makes me question about how people get experiences without getting into the industry. Do you realize that even entry level of the lowest-tier in finance and accounting is requiring years of working experiences? Makes people wonder if networking is more important than education when comes to getting your foot in the door.
I am a finance major and if you want to major in finance just know that the field is extremely competitive. from the get go if you want to be successful and this is even a maybe you need a good internship at a well known company and if they offer you a job after your internship take it. to be in finance you need to be well connected and willing to network I advise people who really want to go into finance to study accounting because companies go after people who study accounting and a lot of accounting majors tend to work in finance. also in the finance field its becoming more technological so I would advise people to study tech related fields.
everyone i see taking finance in college only wants to work at investment banking. else they go asset management or quant if they are such a math nerd. no one wants to work in financial advising aka insurance sales. venture capital/private equity is a no go because they only take 1 out of 1000 undergrad and usually hire after someone has 2 years of investment banking under their belt.
As a Finance major, I wouldnt recommend majoring in Accounting in order to get a Finance job. Just take internships and minor in tech or get a tech related certificate.
First of all, I thoroughly enjoyed this conversation! I graduated in BSc Human Physiology in 2017 and in 2019 found myself navigating and exploring parts of the financial sector (haha universe). Through gaining knowledge and experience in the process, after 5 years I feel I am ready to lay the proper foundation towards furthering my career in this field by getting a finance degree and fully immersing myself to the endless possibilities highlighted in the discussion. I have been researching jobs within the space and doors that a higher education can open, but I must say after this video I feel even more confident about the decision I'm about to make and I am looking forward to setting myself up for this next chapter of my career growth journey. Thank you gentlemen!
Accounting is better for finding jobs and you can easily pivot into a finance job later. Working for a cpa tax firm can give you an excellent background for financial advising.
Nah, finance is way better for careers that are more competitive and pay more such as IB, Research, trading, etc. Accounting prepares you for the backoffice.
Best selling point was the first. Though barriers to knowledge are disappearing everyday, a finance degree does highlight someone's ability to analyze qualitatively and quantitatively. I majored in Finance, graduated a decade ago. Working in Construction Management. Random ride. But I do well, and my finance background fast tracked me into other construction avenues; like contract negotiations and proposals. At first, working around a lot of Engineers made me second my degree choice lol. But there's always an opportunities, in any industry or field, for someone with financial literacy. Keep your options open, and do not be afraid of work somewhere that may not think apply directly to finance. If you have great reading comprehension skills, and can communicate effectively, you're going to find your way with a finance degree.
Working as a business banker on Park Avenue in New York put everything into perspective. My book of business was full of your favorite investment bankers, analysts, hedge fund and private equity employees. They all told me the same thing. I hope to leave one day. Yes, the career path is very lucrative but the undeniable terrible work life balance isn’t worth it. Most of the guys in these fields are check box like people. Yes I got the house with a mortgage that’ll leave me in debt for the next 30 years. Yes I got the nice car, but at the end of the day they hate the job. My biggest clients that trusted me with their finances were sales guys and entrepreneurs. It’s what pushed me to start my two business. Pushed me to quit climbing the corporate ladder all at the age of 21. (Been in banking since I was 18 through an internship).
I'm an aspiring student who is looking into studying financial economics and finance as I am very interested in macro/micro economics and its impact within the stock market. May i ask for your perspective on studying these majors? Would you change to something else if you went back in time? and if so what would you change to?
@@bao8268 I believe it really depends on how much time you’re willing to sacrifice to achieve the goals you want. Finance is a great major because it leads to a diverse set of career paths. Yes, starting out you’ll be working insane 80+ hours for maybe 2-3 years if you go the investment banking route. However, from there you get the chance to go into the private equity, hedge fund careers and it’s very lucrative. One thing I would do differently is truly vision the life I want to live at a much younger age. 3 years in banking taught me the people with the most ideal lives have time and location freedom. Getting really good at sales and being able to communicate to all walks of life will take you very far in life. Disclaimer, it takes time to develop those skills so actively try to get better at it every day.
This is great! I started watching some economics lectures from MIT, and fell in love because it’s the perfect blend of science and art that I have been looking for for so long! I love that psychology, sociology, planning and math coexist in perfect harmony! I will be continuing from an associates in business management to a bachelor’s of finance this year, and I am walking the tightrope between thrill and terror.
Got a bachelors in finance over a year ago and haven’t gotten a single job other than financial planning which is very dog eat dog, unstable, and hierarchical… switching career paths is probably the best option now
What a wholesome personality for a Finance professor lol. Great video and very insightful! Also love the Lex Fridman type of vibe to this podcast (great choice of inspiration)
I have a degree in finance. Remember this, trying to major in finance without also studying accounting is the wrong decision. One must understand accounting principles to be able to model using that data.
@@RexiRexx87 yes. I would highly recommend that. Usually employers will want to see a concentration in accounting. And also, choose corporate finance when picking a specific area of practice
as a finance major we only have to take financial and managerial accounting (first two accounting classes u can even take) don’t even have to take intermediate 1.
I graduated last year in finance and it’s been very hard to get a full time and high paying job without experience. Planning to get my CFA this year and series 7 hopefully land in a better job position next year.
This interview is amazing. Only one recommendation: you spend so much time in sharing one idea or question, a lot of words are needed to talk about one precise comment
In regards to the “checking boxes” aspect of the conversation. I think timeframe was missing from that context. It’s not about checking boxes it’s people are ready to go to work and they don’t want to be in school for additional periods of time. Most jobs in finance and tech places more value on the bachelors and certificates. The bachelors the gold standard because it demonstrates your competence level. The certificate tells them you know something about what they’re doing. MBA’s are acceptable but primarily required if you’re Executive positions. But even then much more emphasis is placed on experience levels and certifications..
An undergrad in Finance, Accounting or Economics would be good and save the Business Administration for the MBA......I took Business Administration as an undergrad and wound up repeating the same type of courses when I started working towards an MBA = I was bored to death and bailed! I took an accounting class in high school and got an A+ on the project that we were assigned to work on throughout the class! If I had to do it all over again: I'd do Finance with a minor in Economics and go work for Vanguard and get my CFP on the company dime!
I would have like to have seen the discussion head towards how MBA’s or business related degrees like data analysis could be applied now (what positions are in demand and will continue to be in demand and not automated) and a prediction of how the job force will change in the next few decades.
Man quit the meat ride. Know how you want to use the finance degree and why. If you are not into financial securities in any role man figure it out quick. My finance degree brought me nothing. I work entering invoices and data entry as a staff accountant. The title cool ig but I work with people who did not go to college or do not have a finance or business degree. Personally students who want to go for a finance degree should seriously talk to others outside of finance. You can learn finance outside of finance. Sorry if I sound negative but there is a disservice about business degree as a whole. I feel like finance has a flashy stigma and boy I got caught up looking at that and not looking at cons. Good interview tho.
The problem with top paying Finance jobs today is that many of them look for people with an engineering and mathematical background. Honestly looking back I wish majored in engineering and mathematics. But I'm taking the approach to learning it on my own.
@@McFlashh hahha don't speak sh*t without knowing. Elon studied Economics too Gates has no STEM degree :) Zuckerberg has no degree, and even when he was in Harvard he was majoring in Psychology :)
Finance = Common sense + high school math. If you understand the concept of time value of money, why there are little no risk-free excess returns available in capital markets (rarely is risk mispriced) and what a call or put option is, and can read a balance sheet, that's it. My feeling is some try to make things complicatd that are quite easy.
I'm hugely enthusiastic about finance and majoring in it, but I think finance itself is not enough for the recent job market, at least it should combined with CS & Math to break into more wider range of roles
I do not have a degree on finace and work for a one of the big three brokerages...it's all about getting your foot in the door and leanring the skills from there
@@sarahfranco6802 He knows someone that work for the big three brokerages, that's it. Going to school is optional now as long as you are learning somewhere.
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
@sarahfranco6802 get a job in banking and get different financial certs and just learn while on the job. If you show the aptitude for the role you will get it
I agree the in person class is better compared to the online class unless unit related to my major or I have no interest in it then I will do online 😂.
Great Video. I understand the primary scope of this video was about a Finance degree, but I wanted to ask more about the MBA. Do you think it makes more sense to have a concentration in say something like Finance? Or rather dive into different topics, even when looking to have a career in Finance? Thanks
Business accountant, tax accountant, CPA are all valuable contributions to society. If you have a finance degree and are in the investment industry, you're essentially a useless leech. I think people are realizing this and I think there might be a cultural shift in the future. When the biggest hurdle you face is marketing your fund to bring in capital to charge a fee for sub-par results, you shouldn't have a fund at all. People looking to get into finance should stay away from the investment industry in my opinion. The average person knows very little about finances in general, and I doubt an AI will completely replace CPAs because people want to interact with a human, go over things and have things planned and explained to them. I think there will always be a demand for CPAs. Just don't push investment products that have a conflict of interest onto your clients.
In a Brazilian perspective, you wil get nothing without a Finance BA. However, moving on, if you are being promoted and getting more responsibilities in your company, getting a MBA is a BIG mistake. It won't be recognized for it and in fact you will waste time. The exception is if your company is paying you to do it (very rare), if you come from a different area or if you want to get a job in the US (very risk bet). All those "short term" super expensive certifications paid by companies are there for their top executives who didn't get a MBA get something in their resumé in a couple of months.
Im going to apply at some trading firms before i graduate with my degree in finance. I think that's where the money is. They also use python heavily as well. Currently i'm in school for computer programming.
I majored in finance and economics and ended up starting a business and focus on sales and marketing. Not much value for the skills unless you have a boss
Huge survivorship bias here. College isn’t necessarily bad but the ROI has drastically reduced. Pick a good degree and network. That being said you can make comparable money never going and earn 4-6-8 years sooner
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
I'm getting my MBA in Finance and Investment Management and graduating in December 2023. I am having a hard time finding a job in this economy. Would love to connect and get some advice on how to get a good job! thanks!
Ok, but there is bias on the hiring side. For example, for big companies, it's easier to get in if you go to a big name, state school , and know the product they produce vs. a smaller school they dont know about. After that first job, I think it matters a whole lot.
I have a computer science and finance degree. Haven’t gotten any value of my finance degree yet as I work as a software engineer but maybe in the future?
@@judgementcl i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
27:09 but that logic also applies to tests. a poor kid may not have as much time to study for sat/act/gmat/gre or whatever else or spend $1000s on a prep course if they have to work a bunch of jobs and can barely afford college tuition. just as much as poverty may hurt their gpa it will hurt their exam scores. though on the whole i still agree that removing standardized testing is a bad idea.
@@michaelmackelvie exactly. but my point with the comment was that there are better arguments to justify using standardized tests in admission than "poor kids have a better chance at doing well on them than getting a good gpa"
The problem isn't that poor kids don't have the time or resources to score well on a standardized test or even that the tests are not "inclusive" w/e that means. The problem is that if the student isn't motivated to learn, they will not do well. That motivation should initially come from the parents and then from fellow students in the form of wanting to keep up or compete. If your parents don't put much expectation on you, and then your peer group doesn't put much importance on excellence, then you will more than likely not excel yourself.
I think what I am struggling with is the benefit of the MBA vs the cost of obtaining it. I’m currently in no debt and three years out of undergrad, and I’m not sure that taking that on is worth the experience. Even though if money wasn’t an option I would go for it, currently studying for the GRE
Master's degree with no experience is a terrible combination. Work until you hit a ceiling, which won't be for a long time, then go for the MBA if your company wants it. Heck, they might even pay for it.
I graduated with a bachelor’s in Finance and went on to work with a large investment firm and got licensed with FINRA. After 2 years, I quit to work in corporate finance as an analyst. Now, I am pursuing a Master’s in Business Analytics with a focus in Finance. Any chance this path would help me go into Algo trading or Quant?
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
@@starburst1020 i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
Hi Michael! I am 16 years old and barely started my junior year of high school. I want major in finance, and I really want to learn more about it before making my decision final. I want to move states from Arizona to somewhere brand new that I’ve never been. Where should I start?
Honestly, your first two years in college will tell you most of what you want to know because you're taking mostly prerequisites and have a lot of time for growth. You're not really locked into anything until your junior year. If you like finance then just go for it. As far as different states, that will really depend on your internships. Apply to every internship you can, out of and in state, and worry more about the opportunities they can give, than their location.
@@auburnboi09 i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
You dont have to switch. Lock in on data analytics, learn power bi, tableau, excel, sql, r, python. Be a god on those things. Make projects on github, not small ones either. Learn how to sell yourself. Apply for every internship possible during summers, the way the world is going... "enjoying your time" will be done after getting a job.
I know nothing about finance and accounting and am graduating with both soon...what would you advice me,should i be worried?or i would learn in the job ?i feel it would be very embarrassing for me 😢
It's problematic when "educators" try to incorporate their biases. I would be skeptical of their intention to "educate" or just simply want to indoctrinate people. True education tell about facts. And facts do not discriminate
I think it depends where your college is. The only finance jobs around my area were insurance salesmen, advisors, and some positions in analysis. I think you need to be in a financial district otherwise people will offer you jobs that don't require barely any brains.
I wish someone would do some similar for engineering. No one ever mentioned the different outcomes of engineering. Ie: sales, marketing, product management.
@@McFlashh Lol 65% CEOs studied business, and basically no one can become a CEO without studying business. Versatile? Business is the most versatile degree which gives real world problem solving skills and knowledge of how the whole world works.
@@nycto16 First off, I believe anything can be learned without university however it's much harder to learn engineering without university compared to business. There's plenty of business books out there, you don't need to go university to study business.
@@McFlashh haha this shows how illiterate you are... studying business is extremely hard and university is necessary.. but yeah you don't need to go to university for engineering. Mechanics, electricians in-short trade school is better.
So im currently a construction worker looking to go into school for a double major in economics and finance, is this a bad idea since i won’t be able to do any internships since i will still be working full time in the demo world
You don't need to spend $100k, to engage with people on business strategy.. in any large corporation, there is a bevy of MBAs who are more than willing to engage with you about business strategy gratis ! Free!! The argument made by the guest is not compelling, nay, I find it rather fatuous.
Majored in Finance and Economics. Graduated back in 2020 and went into investment banking and now currently work in private equity. The money is amazing.
currently about to go for a finance major starting next week. Little nervous but I hope everything turns out alright
@@rayfym best of luck. My suggestion is pick up a 2nd major. Will help you stand out. Also, don’t underestimate how important accounting is. If you have strong accounting skills you can graduate making 6-figures easily.
Did you intern during your time in college?
@@justintran3012 yes. Junior and senior year. Internships are a must to break into the field.
Can I ask you a few questions?
“It’s how you go to college, not where you go to college” - by far my line this! So many get it twisted and seek the brand but once they achieve that they don’t maximize the opportunity.
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
I mean the bulge brackets still reserve majority of the most lucrative roles for the ivy leaguers
Where you go to college for a bachelor of finance is the most important factor
Tbf it is 100 percent the brand name. How you going matters. But like target school… finance oddly really cares about prestige. I would shell extra money to go to a good school to break into IB or another lucrative finance career. Cause think about it. Anyone can do excel stuff. They hire like this to justify their fees really
@@wallstreetzoomerthat’s true but if u go to a Semi u could break into MM IB or Inbetween ish Banks. MM PE if ur really good. Theres also other finance roles or just in general going to a good school is just always better honestly.
I got my degree in finance and worked in fintech operations in institutional banking and it was a great experience. The bank paid $5k a year for tuition and I thought about pursuing my MBA, but my boss had asked me why would I want to do that. He told me the president of institutional banking made $12 MM a year and only had a bachelors in finance and all you needed was the right network, your foot in the door, and work hard. I already had the right network, my foot in the door, and I work hard. I realized MBA is really more for the folks who had a hard time with those two steps in the financial world. Maybe one day, I’ll pursue it if the future company I work for pays for all of it, but I refuse to go in any debt for it. Interesting take.
Did you do any certifications or courses that you think helped you landing an internship or work experience? Which ones
Hi,would like to know What did u mean by right network
20 30 years ago you can get away with a bachelor's. Nowadays, you need experience and higher ED. In my state Masters sre needed to even be considered unless you have ALOT of experience. So I'd say it's important for new people trying to get into the industry.
@@denko44 Makes me question about how people get experiences without getting into the industry. Do you realize that even entry level of the lowest-tier in finance and accounting is requiring years of working experiences? Makes people wonder if networking is more important than education when comes to getting your foot in the door.
@@xianxiong3440definitely is, do your best to get both
Really interesting insights about why a student would or would not pursue a higher ed degree. Bet this guy’s classroom is worth every penny.
I am a finance major and if you want to major in finance just know that the field is extremely competitive. from the get go if you want to be successful and this is even a maybe you need a good internship at a well known company and if they offer you a job after your internship take it. to be in finance you need to be well connected and willing to network I advise people who really want to go into finance to study accounting because companies go after people who study accounting and a lot of accounting majors tend to work in finance. also in the finance field its becoming more technological so I would advise people to study tech related fields.
Thank you. Good show.
everyone i see taking finance in college only wants to work at investment banking. else they go asset management or quant if they are such a math nerd. no one wants to work in financial advising aka insurance sales. venture capital/private equity is a no go because they only take 1 out of 1000 undergrad and usually hire after someone has 2 years of investment banking under their belt.
As a Finance major, I wouldnt recommend majoring in Accounting in order to get a Finance job. Just take internships and minor in tech or get a tech related certificate.
Just got my accounting degree May 2nd
Have you ever considered working at a trading firm? That's what i wanna do once I've graduated.
First of all, I thoroughly enjoyed this conversation! I graduated in BSc Human Physiology in 2017 and in 2019 found myself navigating and exploring parts of the financial sector (haha universe). Through gaining knowledge and experience in the process, after 5 years I feel I am ready to lay the proper foundation towards furthering my career in this field by getting a finance degree and fully immersing myself to the endless possibilities highlighted in the discussion.
I have been researching jobs within the space and doors that a higher education can open, but I must say after this video I feel even more confident about the decision I'm about to make and I am looking forward to setting myself up for this next chapter of my career growth journey. Thank you gentlemen!
Accounting is better for finding jobs and you can easily pivot into a finance job later. Working for a cpa tax firm can give you an excellent background for financial advising.
Yeah. Finance degrees are not advised. Finance minor is better. And major in IT or accounting. Will need a masters tho to be a CPA.
@@newagain9964 You don’t necessarily need a masters. You need 150 college credits including accounting and business courses.
Nah, finance is way better for careers that are more competitive and pay more such as IB, Research, trading, etc. Accounting prepares you for the backoffice.
@@ThePipojp Without getting your foot in the door first, there is no career.
@newagain9964 you dont need a masters
Best selling point was the first. Though barriers to knowledge are disappearing everyday, a finance degree does highlight someone's ability to analyze qualitatively and quantitatively.
I majored in Finance, graduated a decade ago. Working in Construction Management. Random ride. But I do well, and my finance background fast tracked me into other construction avenues; like contract negotiations and proposals.
At first, working around a lot of Engineers made me second my degree choice lol. But there's always an opportunities, in any industry or field, for someone with financial literacy. Keep your options open, and do not be afraid of work somewhere that may not think apply directly to finance.
If you have great reading comprehension skills, and can communicate effectively, you're going to find your way with a finance degree.
Working as a business banker on Park Avenue in New York put everything into perspective. My book of business was full of your favorite investment bankers, analysts, hedge fund and private equity employees. They all told me the same thing. I hope to leave one day. Yes, the career path is very lucrative but the undeniable terrible work life balance isn’t worth it. Most of the guys in these fields are check box like people. Yes I got the house with a mortgage that’ll leave me in debt for the next 30 years. Yes I got the nice car, but at the end of the day they hate the job. My biggest clients that trusted me with their finances were sales guys and entrepreneurs. It’s what pushed me to start my two business. Pushed me to quit climbing the corporate ladder all at the age of 21. (Been in banking since I was 18 through an internship).
I'm an aspiring student who is looking into studying financial economics and finance as I am very interested in macro/micro economics and its impact within the stock market. May i ask for your perspective on studying these majors? Would you change to something else if you went back in time? and if so what would you change to?
@@bao8268 I believe it really depends on how much time you’re willing to sacrifice to achieve the goals you want. Finance is a great major because it leads to a diverse set of career paths. Yes, starting out you’ll be working insane 80+ hours for maybe 2-3 years if you go the investment banking route. However, from there you get the chance to go into the private equity, hedge fund careers and it’s very lucrative. One thing I would do differently is truly vision the life I want to live at a much younger age. 3 years in banking taught me the people with the most ideal lives have time and location freedom. Getting really good at sales and being able to communicate to all walks of life will take you very far in life. Disclaimer, it takes time to develop those skills so actively try to get better at it every day.
@@bao8268 if you have a love for it stay in it.
This is great! I started watching some economics lectures from MIT, and fell in love because it’s the perfect blend of science and art that I have been looking for for so long! I love that psychology, sociology, planning and math coexist in perfect harmony! I will be continuing from an associates in business management to a bachelor’s of finance this year, and I am walking the tightrope between thrill and terror.
Got a bachelors in finance over a year ago and haven’t gotten a single job other than financial planning which is very dog eat dog, unstable, and hierarchical… switching career paths is probably the best option now
where are you going to then?
@@kibbylol going back to school for IT at WGU, major in cloud computing
@@Nimbushaze good luck mate, hope it goes well for you
@@kibbylol thanks man same to you
@@kibbylol if you get a bachelor in finance in a really prestigious school is it still hard to find a job? Is it worth it?
What a wholesome personality for a Finance professor lol. Great video and very insightful! Also love the Lex Fridman type of vibe to this podcast (great choice of inspiration)
Love his style...someone finally noticed! Appreciate it
I like what he said about being able to communicate. As a person with a weakness on communication, I was not a good fit for finance.
It's quite interesting how this conversation clearly outlines the key points which make Finance a human science
More Art than science
Finance play important role in every people’s lives!
As someone who is going to purse finance in college starting August 23, it was very helpful. Thanks and best of luck!
You meant pursue finance. I caught your typo error.
@@harpGClol
What's it like?
I have a degree in finance. Remember this, trying to major in finance without also studying accounting is the wrong decision. One must understand accounting principles to be able to model using that data.
I also take part in a few accounting course in my finance degree.
@@gchen7172did you not take any accounting classes? All finance degrees have accounting in first yesr atleast
I’m in community college right now, do you think I should concentrate in accounting for my associates then concentrate in finance for the bachelors??
@@RexiRexx87 yes. I would highly recommend that. Usually employers will want to see a concentration in accounting. And also, choose corporate finance when picking a specific area of practice
as a finance major we only have to take financial and managerial accounting (first two accounting classes u can even take) don’t even have to take intermediate 1.
I graduated last year in finance and it’s been very hard to get a full time and high paying job without experience. Planning to get my CFA this year and series 7 hopefully land in a better job position next year.
Would you say the CFA is needed to land a job as a Financial Analyst?
@@user-cx1ty3hf3jit gives you an advantage and increases your chances of landing a job
@@user-cx1ty3hf3j No
Yeah I agree, it took me 2 weeks to find a job after graduation. It took a long time!
Was it hard because of a lack of internships or opportunities? Or was it also GPA and minors that has to do with it?
As a professional there is a vast scope of this field in my opinion.Vry.effective conversation.
Excellent interview, very interesting points regarding MBA online vs classroom lectures of which I’d agree 100%
Getting my masters in finance this year! Glad I ran into this video, subbed.
Love to hear that - thank you!
do you mind if i ask how its been so far, is it much harder than expected? are you working in the field while taking masters
This interview is amazing. Only one recommendation: you spend so much time in sharing one idea or question, a lot of words are needed to talk about one precise comment
Great video definitely reaffirms my stance on pursuing accounting then finance. Thanks a bunch!
Glad to hear you enjoyed it...
This was extremely helpful. This video is one of a kind on this topic. I appreciate you posting this.
In regards to the “checking boxes” aspect of the conversation. I think timeframe was missing from that context. It’s not about checking boxes it’s people are ready to go to work and they don’t want to be in school for additional periods of time. Most jobs in finance and tech places more value on the bachelors and certificates. The bachelors the gold standard because it demonstrates your competence level. The certificate tells them you know something about what they’re doing. MBA’s are acceptable but primarily required if you’re Executive positions. But even then much more emphasis is placed on experience levels and certifications..
Gonna studty finance this sep and this video is perfect timing to watch!
Play at 1.75x speed.
An undergrad in Finance, Accounting or Economics would be good and save the Business Administration for the MBA......I took Business Administration as an undergrad and wound up repeating the same type of courses when I started working towards an MBA = I was bored to death and bailed! I took an accounting class in high school and got an A+ on the project that we were assigned to work on throughout the class!
If I had to do it all over again: I'd do Finance with a minor in Economics and go work for Vanguard and get my CFP on the company dime!
Great conversation. I loved it ❤ made me feel Inspired to learn finance. I wish Dr. Adam could be my educator!
Thank you! Love that!
Road to 3rd year of my Economics degree, each year enjoying it more. With a lot of energy to start working in finance
Iam thinking the same thing
I would have like to have seen the discussion head towards how MBA’s or business related degrees like data analysis could be applied now (what positions are in demand and will continue to be in demand and not automated) and a prediction of how the job force will change in the next few decades.
if you go to a bad school major in accounting or double major
if you go to a decent school do finance or econ
Got a MS in Finance in 2019… Still can’t get a finance job😢
Great video man! Considering going to school for finance this helped me get more insight ¡
Thank you! Really appreciate that...
Same@@michaelmackelvie
Man quit the meat ride. Know how you want to use the finance degree and why. If you are not into financial securities in any role man figure it out quick. My finance degree brought me nothing. I work entering invoices and data entry as a staff accountant. The title cool ig but I work with people who did not go to college or do not have a finance or business degree. Personally students who want to go for a finance degree should seriously talk to others outside of finance. You can learn finance outside of finance. Sorry if I sound negative but there is a disservice about business degree as a whole. I feel like finance has a flashy stigma and boy I got caught up looking at that and not looking at cons. Good interview tho.
The problem with top paying Finance jobs today is that many of them look for people with an engineering and mathematical background. Honestly looking back I wish majored in engineering and mathematics. But I'm taking the approach to learning it on my own.
Only quant roles really. No one cares about STEM background for IB or tradicional Research
STEM is useless lol science kiddos are dumb they don't even know the M of Money.
@@nycto16 Elon, Gates, Bezos, Zuckerberg? All studied STEM.
@@McFlashh hahha don't speak sh*t without knowing.
Elon studied Economics too
Gates has no STEM degree :)
Zuckerberg has no degree, and even when he was in Harvard he was majoring in Psychology :)
@@McFlashh how funny is, that you don't know facts and confidently saying "All studied STEM".
Finance = Common sense + high school math. If you understand the concept of time value of money, why there are little no risk-free excess returns available in capital markets (rarely is risk mispriced) and what a call or put option is, and can read a balance sheet, that's it.
My feeling is some try to make things complicatd that are quite easy.
I'm hugely enthusiastic about finance and majoring in it, but I think finance itself is not enough for the recent job market, at least it should combined with CS & Math to break into more wider range of roles
The check boxes stuff was deep and nice, cool interview
thank you!
I do not have a degree on finace and work for a one of the big three brokerages...it's all about getting your foot in the door and leanring the skills from there
How did you exactly do it?
@@sarahfranco6802 He knows someone that work for the big three brokerages, that's it. Going to school is optional now as long as you are learning somewhere.
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
@sarahfranco6802 get a job in banking and get different financial certs and just learn while on the job. If you show the aptitude for the role you will get it
I agree the in person class is better compared to the online class unless unit related to my major or I have no interest in it then I will do online 😂.
Great Video. I understand the primary scope of this video was about a Finance degree, but I wanted to ask more about the MBA. Do you think it makes more sense to have a concentration in say something like Finance? Or rather dive into different topics, even when looking to have a career in Finance?
Thanks
Great video. Glad you interviewed him. I enjoyed it
Business accountant, tax accountant, CPA are all valuable contributions to society. If you have a finance degree and are in the investment industry, you're essentially a useless leech. I think people are realizing this and I think there might be a cultural shift in the future. When the biggest hurdle you face is marketing your fund to bring in capital to charge a fee for sub-par results, you shouldn't have a fund at all. People looking to get into finance should stay away from the investment industry in my opinion. The average person knows very little about finances in general, and I doubt an AI will completely replace CPAs because people want to interact with a human, go over things and have things planned and explained to them. I think there will always be a demand for CPAs. Just don't push investment products that have a conflict of interest onto your clients.
It's a degree for sale jobs. You want finance jobs study accounting.
Very good questions! Great video👍🏻
Greatings from Luxembourg 🇱🇺
Thank you! Really appreciate it.
Michael MacKelvie has been watching some Sundae Conversations🤝
The most wonderful video on the topic loved it thanks!!!!
In a Brazilian perspective, you wil get nothing without a Finance BA. However, moving on, if you are being promoted and getting more responsibilities in your company, getting a MBA is a BIG mistake. It won't be recognized for it and in fact you will waste time.
The exception is if your company is paying you to do it (very rare), if you come from a different area or if you want to get a job in the US (very risk bet).
All those "short term" super expensive certifications paid by companies are there for their top executives who didn't get a MBA get something in their resumé in a couple of months.
The way I see an MBA now as I get older is it can make you a jack of all trades and yet master of none.
@23:40 "we don't need this, this is discriminatory." Yes, it discriminates against people who are not college material.
My first year in college and am going to study finance 🤍, wish me luck 🙏🏻 thank you Dr. Brian and Michael 🙏🏻
A lot of the smartest people in finance say a finance degree is a waste of money
I did finance, Much rather have done tech. Finance is useless for starters.
Im going to apply at some trading firms before i graduate with my degree in finance. I think that's where the money is. They also use python heavily as well. Currently i'm in school for computer programming.
No It's not if you want to get into high finance
How about FinTech? ;)
Great video. Thank you. ACCA COMES WITH FINANCIAL MANAGEMENT..
I majored in finance and economics and ended up starting a business and focus on sales and marketing. Not much value for the skills unless you have a boss
Huge survivorship bias here.
College isn’t necessarily bad but the ROI has drastically reduced. Pick a good degree and network. That being said you can make comparable money never going and earn 4-6-8 years sooner
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
Great talk provided lots of value
I'm really at the point where I tune out when I start hearing we need to get more women in X. I'm all for women's rights but man it gets out.
I'm getting my MBA in Finance and Investment Management and graduating in December 2023. I am having a hard time finding a job in this economy. Would love to connect and get some advice on how to get a good job! thanks!
What college did you graduate from?
Ok, but there is bias on the hiring side. For example, for big companies, it's easier to get in if you go to a big name, state school , and know the product they produce vs. a smaller school they dont know about. After that first job, I think it matters a whole lot.
Thank you for this! Really great questions and discussion
Appreciate it! Hope you found it interesting/helpful
Damn sell it like your 2nd mortgage depends on it Professor
I have a computer science and finance degree. Haven’t gotten any value of my finance degree yet as I work as a software engineer but maybe in the future?
Don’t let the knowledge go to waste
@@curiousgeorgia11.11how can i combine both degrees tho
@@tolgahdur Fintech
@tolgahdur fintech is an emerging market, and with that skillset, im sure you could find something in that realm.
@@judgementcl i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
27:09 but that logic also applies to tests. a poor kid may not have as much time to study for sat/act/gmat/gre or whatever else or spend $1000s on a prep course if they have to work a bunch of jobs and can barely afford college tuition. just as much as poverty may hurt their gpa it will hurt their exam scores. though on the whole i still agree that removing standardized testing is a bad idea.
Yes…the issue, as noted in your final line…what’s the alternative? Folks are quick to critique complex systems, but provide no legitimate alternative.
@@michaelmackelvie exactly. but my point with the comment was that there are better arguments to justify using standardized tests in admission than "poor kids have a better chance at doing well on them than getting a good gpa"
The problem isn't that poor kids don't have the time or resources to score well on a standardized test or even that the tests are not "inclusive" w/e that means. The problem is that if the student isn't motivated to learn, they will not do well.
That motivation should initially come from the parents and then from fellow students in the form of wanting to keep up or compete. If your parents don't put much expectation on you, and then your peer group doesn't put much importance on excellence, then you will more than likely not excel yourself.
I'm a junior getting my finance degree. Almost done ✔️ 🙌 😊
Love that! Keep rollin...
Loads of opportunity on the other side...
@@michaelmackelvie he is dead, probably cause starved to die can't even find a job in finance
Thank you so much this !
Of course!
Mind blowing conversations
Great discussion!
Thank you! Appreciate the comment!
Great video. Thank you
Thank you! Appreciate it...have another convo with another prof coming out in a week or so...
I think what I am struggling with is the benefit of the MBA vs the cost of obtaining it. I’m currently in no debt and three years out of undergrad, and I’m not sure that taking that on is worth the experience. Even though if money wasn’t an option I would go for it, currently studying for the GRE
Master's degree with no experience is a terrible combination. Work until you hit a ceiling, which won't be for a long time, then go for the MBA if your company wants it. Heck, they might even pay for it.
LSU Online/ Eastern / wgu are all very affordable options.
Great content.
You seem to have been inspired by lex fridman.
Love his format more than anything…
ACCA COMES WITH FINANCIAL MANAGEMENT.
Finance is not rigorous enough for the quant jobs requiring math/stats knowledge
That Lex Friedman intro
I think finance degree is more suteble to work at an investment bank than a maths degree am I correct?
What in the Lex Fridman was that intro😂?
What would ypu recommend as a first degree between International Finance and Banking and Accounting and Finance degree?
I graduated with a bachelor’s in Finance and went on to work with a large investment firm and got licensed with FINRA. After 2 years, I quit to work in corporate finance as an analyst. Now, I am pursuing a Master’s in Business Analytics with a focus in Finance. Any chance this path would help me go into Algo trading or Quant?
quant firms want people with math/cs/physics degrees, not finance. not saying its impossible, but they recruit undergrads w these degrees primarily
@@starburst1020v true...the info he’s looking for is out there and they all say the same thing...might have missed his boat 😢
i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
@@starburst1020 i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
What license do I need to
roll over a 401(k) into a Roth IRA for other people?
i just learned how to code and have a six figure job, that is all
When did you learn how to code?
I really do not understand the word inclusive.
Inclusive is aginst merit ,r8?
Does anyone else feel any influence from the Lex Fridman podcast? Between the way he talks in the intro, the "Advice for Young People" at the end, idk
Yes please Lex Fridman ❤
Haha...love his format, as you can tell!
Can I still be a financial advisor/ client rep without a degree?
however what if you passed your series 7 and 66?
Hi Michael! I am 16 years old and barely started my junior year of high school. I want major in finance, and I really want to learn more about it before making my decision final. I want to move states from Arizona to somewhere brand new that I’ve never been. Where should I start?
Honestly, your first two years in college will tell you most of what you want to know because you're taking mostly prerequisites and have a lot of time for growth. You're not really locked into anything until your junior year. If you like finance then just go for it. As far as different states, that will really depend on your internships. Apply to every internship you can, out of and in state, and worry more about the opportunities they can give, than their location.
@@auburnboi09 i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh
You dont have to switch. Lock in on data analytics, learn power bi, tableau, excel, sql, r, python. Be a god on those things. Make projects on github, not small ones either. Learn how to sell yourself. Apply for every internship possible during summers, the way the world is going... "enjoying your time" will be done after getting a job.
I know nothing about finance and accounting and am graduating with both soon...what would you advice me,should i be worried?or i would learn in the job ?i feel it would be very embarrassing for me 😢
Sounds like 1990s corporate speak. He’s trying to sell something even he doesn’t believe in anymore
It's problematic when "educators" try to incorporate their biases. I would be skeptical of their intention to "educate" or just simply want to indoctrinate people. True education tell about facts. And facts do not discriminate
great podcast. Nevertheless, please dont copy lex at the beginning
Succes always project
what about Accounting?
I think it depends where your college is. The only finance jobs around my area were insurance salesmen, advisors, and some positions in analysis. I think you need to be in a financial district otherwise people will offer you jobs that don't require barely any brains.
I wish someone would do some similar for engineering. No one ever mentioned the different outcomes of engineering. Ie: sales, marketing, product management.
lol they are not engineering outcomes... sales, marketing, product management are for business grads.
@@nycto16 Engineering is a versatile degree as it gives good problem solving and mathematical ability. That's why many CEOs studied engineering.
@@McFlashh Lol 65% CEOs studied business, and basically no one can become a CEO without studying business. Versatile? Business is the most versatile degree which gives real world problem solving skills and knowledge of how the whole world works.
@@nycto16 First off, I believe anything can be learned without university however it's much harder to learn engineering without university compared to business. There's plenty of business books out there, you don't need to go university to study business.
@@McFlashh haha this shows how illiterate you are... studying business is extremely hard and university is necessary.. but yeah you don't need to go to university for engineering. Mechanics, electricians in-short trade school is better.
check boxes everyone is just looking for a high paying job.
Off shoring to India* is replacing American analysts
I strongly disagree on the standard testing discussion.
Why and how?
@@katydid5088standardized tests are not culturally biased. Non-language based tests (pattern based or numerical) have the exact same disparities.
Bingo @@willwill4769
I had 0 higher education but make 150k+ in my finance job
How did you do it?
So im currently a construction worker looking to go into school for a double major in economics and finance, is this a bad idea since i won’t be able to do any internships since i will still be working full time in the demo world
Hey mate, try exploring the CFA.
You don't need to spend $100k, to engage with people on business strategy.. in any large corporation, there is a bevy of MBAs who are more than willing to engage with you about business strategy gratis ! Free!! The argument made by the guest is not compelling, nay, I find it rather fatuous.