Finance Majors

MaxPower57 · 05-19-2008, 02:02 PM

Since this is a Cyclone site, I think it is safe to say that a lot of us actually went to ISU or at least another college. I was wondering if there are any other finance majors out there.

I am entering my senior year in finance and am carrying a 3.5 GPA yet am starting to doubt the field I am entering. I am asking for some advice from people who have been in my shoes previously.

For those who majored in finance or are working in the financial field, do you enjoy your job? Would you stay with that major if you had to do it all over again? Any other pertinent advice?

My attempts at getting internships have kind of fizzled due to my lack of business relationships so I am a little confused. Also, any advice on grad school MBA, should I work for a couple of years before going to it? or would it benefit me to get my MBA straight out of my undergrad?

Thanks!

drmwevr08 · 05-19-2008, 02:06 PM

I worked in cubicles for two years and then went to grad school in a different field.

Cy Hard · 05-19-2008, 02:10 PM

Job market is terrible right now...

bpmdu · 05-19-2008, 02:19 PM

Currently, a CFA designation is more attractive to financial companies then an MBA. Especially in the technical analysis, and investment fields.

josier · 05-19-2008, 02:29 PM

Originally Posted by bpmdu

Currently, a CFA designation is more attractive to financial companies then an MBA. Especially in the technical analysis, and investment fields.

I absolutely agree. I passed on business school and got my CFA right after college on the advice of several family friends working in the business. I'd plan on working a couple of years, getting my CFA, and then go to business school. A lot of company's will pay for grad school as well.

cyeah · 05-19-2008, 02:39 PM

I work in corporate finance on the M&A side of the fence. We are extremely busy most of the time. A lot of our work never shows up because deals fall through mroe than not.

I enjoy what I do, but if I had to do it all over again I would do construction engineering or pertroleum engineering.

I would work for a few years and even have a company pay for the MBA if you go that route. MBA striaght out of college is not very valuable unless you are headed to a top 10 or top 20 program.

cloneu · 05-19-2008, 02:43 PM

Originally Posted by drmwevr08

I worked in cubicles for two years and then went to grad school in a different field.

I currently work in a cubicle type of thing and that can get to be a little boring at times. But I do enjoy my job, I think the company has a lot to do with that. I have activities I can do to get me out of the office (ping pong, fooseball, darts) that provide a nice break from sitting at a desk for long periods of time.

I do not do any work with investments or things of that matter, but from what I have heard, having a CFA would be good if you wanted to do something related to that.

puckwarrior · 05-19-2008, 03:02 PM

If you look at the help wanted ads, accounting majors are always highly sought after in the market place. Many of the businesses are looking for controllers with the accounting degree. Many of the businesses I have worked with over the years are ran by people with accounting background.

becrisgreg · 05-19-2008, 03:35 PM

93 graduate in Finance and have worked in operations and sales management for the first 14 years, and have recently been promoted to CFO for my company.

Over the years I have hired a lot of college graduates for training programs. In my opinion unless you want a specialized field, specific major is of little importance. It depends on what you want to do.

What I look for in a college grad (in order of importance) is:

Work experience - the more applicable the better.
Social skills (being able to relate to people)
Maturity - ability to survive away from family and friends and on their own.
Realistic expectation of work vs. salary vs. advancement opportunity
Communication ability
Grades are one of the least

As far as an MBA is concerned, unless your GMATs are good enough for you to get into a Chicago, Wharton, Kellogg, etc. your best bet is to work for a few years, and then get your employer to pay for it. Unless you attend an elite program the incremental earning potential doesn't offset the opportunity cost of lost salary. And in my opinion, you will get a lot more out of the experience if you can add a "real world" prism to the MBA lessons, rather than an academic prism.

Wesley · 05-19-2008, 03:40 PM

Originally Posted by Cy Hard

Job market is terrible right now...

Articles indicate up to 20% of Wall Streeters will be laid off as banks are exiting the mortgage businesses for greener pastures. Take a safe job and wait for better times.

state09 · 05-19-2008, 03:47 PM

I am currently a finance major (graduating in the fall) and noticed the same thing with the job market. I decided to go on and get my MBA and JD at the same time straight out of undergrad. This was the best option for me.

With what I have heard applying to the MBA programs, it is best to work for a few years first (unless you have an outstanding GMAT score). With the schools I am applying to, their statistics say that 90% of the MBA students are at least 24 and have had a few years of full-time experience. I am just adding the MBA because it is an option with the JD.

cyclonemaniac7 · 05-19-2008, 03:58 PM

I majored in Finance and minored in Statistics, and I'm now doing technical support at a health care software company. It seems like people say the market should be good for finance majors, but we'll see. If I had to go back and do it again, I probably would have majored in Statistics and gotten a minor in business.

brianhos · 05-19-2008, 04:02 PM

Originally Posted by Cy Hard

Job market is terrible right now...

Not for finance people, we are still hiring lots of them, and they are hard to find.

sunset · 05-19-2008, 04:09 PM

Finance is pretty broad, what area do you want to work in? (i.e. corporate finance, investments, M&A, managerial consulting, etc.) Advice may differ depending on your answer.

I have a non-business undergrad and went back to get my MBA after three years in the workforce. It was more of a career change than career advancement decision for me. As others have indicated, if you go the MBA path work experience will be very beneficial. It will help not only with gaining entrance to the better schools, but enhance your grad school experience as well.

clones26 · 05-19-2008, 04:42 PM

I graduated in 2006 with a finance major and work for a company in mortgage sales. I love my job and I havent noticed a decrease in my lead volume at all...in fact last month my month best month in the last 2 years. If I had to do it over I would probably went the accounting route and became a CPA. To each their own, but sales seems to be a good route if you can find a good mix of salry & commission.