<p>Hello everyone, Yesterday I had a thorough conversation with my uncle who owns his own financial firm. I told him about my confusion about what to do after I complete school, he told me to join him and eventually take over! He said he created the firm for me and his son (who is 4 now) and he wants to retire at 60 (16 years from now) and wants to have me take over. My uncle got very rich from this firm and he actually wants to create his own insurance company as well later on. He said he will give me his positions after he retires and will train me after I'm done with my education. However, he told me I need a very good education! Stressing the areas of marketing, finance, and leadership. I have 4 years of college than 2 years fir my MBA and I plan to work with my uncle between those. Question 1: What major/minor should I be to get the skills nessacery to be CEO (Marketing,Finance,Leadership)?
2: If I get a 3.8 GPA, 700 GMAT, and work with my uncle (he has 5 offices so far in long island (NY), NJ, Chicago, Houston (TX), and San Fransisco (CL), he is planning to open a manhatten one in the someing years. So the firm is growing but it's not that big yet)
Would I be set for NYU or the top 10 if I did this?
3: For my MBA, should I specialize in something?</p>
<p>Thanks, I am very excited and happy, if you noticed I was stressing out in the investment banker forum because I had no idea what to do in life lol. Anyway I'm a senior in HS and got accepted to Baruch college and plan to go there Fall 2009 :) thanks</p>
<p>Well my uncle has no clue about education… He didn’t go to college in the US. Intact he dropped out of college in Pakistan and moved here when he was 22, then worked at a gas station pumping gas… Then went into selling insurance, became VP of intern. Marketing at nationwide, quit and made his own firm 2 years ago and now drives a s550 and Porsche carrera s =0</p>
<ol>
<li> Get an engineering degree, don’t worry about a minor just keep your grades up. If you don’t want to do engineering than I would suggest (only because you are looking at going into insurance) Accounting, Actuarial Science, Organizational Behavior with a minor in psychology, sociology, or some other liberal arts that addresses the human nature.</li>
<li> You probably won’t get a 3.8 if you follow my advice above. Get above a 3.4 and you should be fine. Work for your uncle in the summers and for a couple years after grad and get a 700+ on your GMAT and you should be qualified for the Top 10.</li>
<li> Of those CEOs that get MBAs it seems to me that they either have a concentration in Finance or Marketing. That’s just from my observation.</li>
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<p>engineering… Isn’t that science?the other majors don’t make much sense either… I was told to do marketing AND finance. And is it possible to major in say marketing and MBA in finance? That way I learn both thoroughly?</p>
<p>Yes, you can major and one and concentrate in the other for your MBA. </p>
<p>Engineering teachs analytical and quantitative skills in a manner that demonstrates an aptitude for learning advance topics in a timely manner. More and more engineers are entering the business market right after graduation.</p>
<p>Accounting makes sense because it teaches you how a business is able to run and gives insights on how to improve business systems. I know several accounts who run very successful business.</p>
<p>Actuarial Sciences makes sense it because it teaches risk management, which is the heart of the insurance industry.</p>
<p>Organizational Behavior makes sense because it teaches you how to run a group of people and predict how they will be have to certain stimuli… in an organization.</p>
<p>Psychology is always a great pairing, one I wish I had, beause it will help you understand your opponent in any game. From internal to external negotiations.</p>
<p>You’ll get enough of the marketing and finance to not have the wool pooled over your eyes from your MBA and life experience.</p>
<p>so marketing and finance won’t help me run a business?
If I were to do like marketing major and psychology minor then work at my jncles firm and them do a MBA in Finance, would that be good ?</p>
<p>That would make you pretty well rounded, if that’s what you want to be. It might be better to be the best at one thing, like corporate strategy, and then hire marketing and finance guys to do the rest. It really depends on your strengths and weaknesses and how you want to strengthen your strengths and compensate for your weaknesses.</p>
<p>ok well first insurance is not the only company I will take over, there’s plenty more. He has created 3 so far (Financial services and investments, Insurance, and a not for profit foundation which builds schools in 3rd world countries (so far there’s 2 in Pakistan). He then plans to build a mortgage and real estate company, accounting firm, and eventually his own banks if he gets that far and if god is willing). He has a partner in all 3 companies and plans to have a partner in the other 2 as well. So he served more as a manager/supervisor and looks over the the companies. He wants me to take his place in ALL those companies in 11-16 years. So what will prepare me for that resposibilty. I really want to expand the company when I get control of it. </p>
<p>*if I was to focus on say marketing (major in it, minor in psychology, and MBA in marketing) will I get enough Finance experience through the core classes you take in MBA and stuff? Or vice versa (Major in Finance/investments, minor in psychology, and MBA in finance) will I have enough marketing experience. Those are my main concerns not gaining enough experience. My uncle told me to take MArketing/Finance/leadership courses in my studies. He says those are vital in any business. And can you explainwhat corporate strategy is? I’m going to Baruch college this fall and can’t seem to find that in their undergrad programs…</p>
<p>I looked at your school’s programs and it seems to be almost all or nothing, and that is sad.</p>
<p>I am having the same dilemma with MBA concentration; Finance or Marketing. I’m more of a quantitative person so I am going to stick with Finance I think. Interesting response I received about this is that less than 5% of CEOs are marketing people. Marketing people tend to be more creative and controlling of their freedoms; a finance person will be more level-header… Both are needed for a company to be successful.</p>
<p>An MBA will give you a general overview of the functions, enough to hold your own and learn the functions better in the real world. A concentration will just focus on the topics a little more.</p>
<p>Corporate Strategy is similar to what your school BS/BA in Management is.</p>
<p>I really appreciate your help, so what would you recommend me doing now that you fully understand my situation. I’m leanding towards doing Finance and Marketing (one in UG as a major, and the other as a MBA specializtion) because of what my uncle said (do marketing/finance/leadership). I think the leadership will come in through Extra curriculars. As you said I will be well rounded. Now do you recommend this? And another thing I want to ask is say I don’t get the company and it fails or something, will these courses help me get a good job or start my own from cratch? As a backup? Thanks I appreciate the help</p>
<p>I would forget about marketing as far as my degree is concerned. You’ll get enough of it so that you know what is going on. Market research is generally performed by a market research firm, your in house guys probably will be more for decisions based on the purchased research. I think this is a better strategy than spreading myself too thin. You’ll understand marketing well enough to know a good Marketing Director from a phoney. So, get a good one and let him handle those duties, and listen to him/her and challenge him/her. I think it is more difficult for a lot of people to understand when a finance or quant type person is feeding them a load of garbage, so I best understand them (hence psychology) and the subject as best I can.</p>
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<p>The skills you will obtain on this path will be highly marketable.</p>